Was going through the AR 16-17. Haven’t completed reading it as yet, however I stumbled upon something while digging information (while googling and other links which I am going to provide below) of Mr Sanjiv Saraf (the Chairman) and the management team.
This link mentions that “The
company is promoted by Mr Rohit Saraf (brother of Mr Sanjiv Saraf, the promoter of the Polyplex Group)”
Now if one googles Mr Rohit Saraf’s name one of the link that turns up is-
Also, Dr Suresh Inderchand Surana (who is an independent Director at POLYPLEX) “served as a Director of Facor Alloys Ltd. until October 30, 2006”
http://www.bloomberg.com/research/stocks/people/person.asp?personId=24455430&privcapId=9623184
Now assuming that Mr Narayandas Durgaprasdji Saraf is his father, and if we google his name then-
http://www.facorsteel.com/bod.html
And Facor steel has been recently listed/declared a shell company-
Now, it is no way to say that Mr Sanjiv Saraf just because his brother Rohit Saraf and Late father Narayandas Saraf were involved in wrong economic activities, is also of similar nature but this maybe something to ponder upon.
Also
Any particular reason for you to find the management manipulative??
P.S- please forgive me for-
-overthinking in this aspect.
-if the post has been presented in a confusing way
Disclosure- currently invested and was thinking to add further. However, waiting for further views