The last transaction shows an offer of 200 shares at Rs.13.55 with no bid on Feb 23. The share had touched a high of Rs. 974 on 20 November, 2007. It had started an upward journey in November 2003 when the price was hovering around Rs.10. It has been going downhill for the last 4 years despite the occasional propping up by the interested quarters on a few occasions.
There was no response from Ranjit Chougule, Managing Director of the beleaguered company to a query from delWine regarding the circumstance that led to the suspension of the company or for how long it has been suspended from trading in the stock exchange. There could also not be a confirmation whether the stock exchange had officially suspended the trading and for what reason.
According to the report filed with the Bombay Stock Exchange on February 15, Indage had informed BSE that the meeting of Board of Directors of the Company has been duly convened the previous day and had considered and approved the Notice Convening Annual General Meeting for the year ended March 31, 2010 to be held on March 28, 2011.
The Unaudited Financial Results for the quarters ended on June 30, September 30 and December 31, 2010 had also been reportedly presented before the meeting of the members of the Audit Committee held on February 14, 2011.
The company also informed the BSE authorities that since the High Court had barred the company from transacting any business, none was being carried out by the Company as on date. Further, certain queries were raised and concerns were shown by the members of the Audit committee with the result that these unaudited results were not approved by the committee and the same could not be tabled before the Board for approval.
No unaudited Results for the past three quarters namely June 30, 2010, September 30, 2010 and December 31, 2010 were thus taken on record.
The company had been ordered to wind up its business last year but had gotten a temporary reprieve with the infusion of funds by the company as directed by the High Court. Details have been published in delWine from time to time.
Following links of ealier articles.
Indage Vintners is NOT Bankrupt
Indage Declares De Disappointing Results
Indage Struggling for Survival
Indage Vintners is NOT Bankrupt
Despite Respite Indage Faces Rough Weather
Indage Appeals against Winding Up Order
Indage in Troubled Waters?
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