Find enclosed my concern about Hygiene and corporate governance from Annual report FY18:
On second point about maangment related to Supreme group, I feel there is no business connection as per my limited understanding. There are no companies which have common directors/ or cross holdings between Promoter of Supreme and Permanent Magnet in my limited understanding. I would suggest you to do more work unless you have understanding about family relations of the promoters.
AR FY2008 Extract: Nearly ~ 31,00,000 shares issued are by Merger of three companies and conversion of prefrence share. I do not have not details, but assumed that these companies are related companies to promoter which assisted them to increase stake in the company at par.
Company had its old plant in Borivali (East) (Just opposite Tata Steel land which now acquired by Oberoi). That plant is closed
AR FY2005 extract of resolution
FY18 annual report mentioned about 15% of development area being owned by the company for development in Borivali Land, there are no benefit to the minority shareholder of the company despite land being developed. It is possible the project is not complete and flats are not ready However, there is absolutely no details / information being shared in annual report which raise concern in my mind.
