July 29, 2017
No Annual Reports For 3 Years- Directors Stand Removed
"Further, the exercise of identification of the directors of the companies defaulting in filing of financial statements or annual returns for continuous period of three financial years has been undertaken as part of the ongoing process for disqualification for reappointment as director in that company or in other company for a period of five years, he said "
Source / for more, please click
There are many companies which have not sent Annual Reports to Shareholders or held AGM s.
Shareholders should write to Ministry of Corporate Affairs, seeking dismissal of their Board of Directors.
Ministry of Corporate Affairs,
'A' Wing, Shastri Bhawan,
Rajendra Prasad Road,
New Delhi, Delhi 110001
One example of a company which has not sent Annual Report or held AGM for more than 3 years is Amritsar based Nijjer Agro Foods
Another such company may be Amritsar based Nijjer Agro Foods ( Delisted for non compliance from BSE).
Nijjer Agro Foods is asset laden
It has a huge land holding on GT Road ( Near Amritsar Toll Plaza ) and an excellent production facility.
Nijjer Agro Foods used to make Maggie sauces / ketchups for Nestle and supplied Amla juice to Patanjali.
It , also, had a milk plant/ ice cream factory.
Earlier there were unconfirmed reports of Nestle, Reliance Fresh etc were interested in taking over.
May be time has , now finally come for New Investors /Promoters to move in .