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Kanco Overseas
  • SEBI vide its Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2023/193 dated December 27, 2023 has extended the last date for for providing ‘choice of nomination’ in eligible demat accounts and mutual fund folios to June 30, 2024.
  • The Board of Directors of the Company at their meeting held on. 27th May, 2022, inter-alia, considered and:
      1. Convened 31st Annual General Meeting (AGM) of the Company on Thursday, 1st September, 2022 at 2:00 p.m. IST through Video Conferencing (“VC”)/Other Audio Visual Means (“OAVM”). The remote e-voting period shall commence from Monday, 29th August,2022 (9:00 A.M) and end on Wednesday, 31st August, 2022(5:00 P.M).The Company has fixed Thursday, 25th August, 2022 as the “Cut-off Date” for the purpose of determining the members eligible to vote on the resolutions set out in the Notice of the AGM or to attend the AGM.
      2. Register of Members and Share Transfer Books shall remain closed from Friday, 26th August, 2022 to Thursday, 1st September, 2022 (both days inclusive) for the purpose of 31st Annual General Meeting.
      3. Approved reappointment of Mr. Umang Kanoria (DIN: 00081108), as Managing Director of the Company on the recommendation of the Nomination & Remuneration Committee for a period of three years with effect from 1st January, 2023, subject to approval of the shareholders at the ensuing Annual General Meeting. Relevant details pursuant to Regulation 30 of the Listing Regulations in relation to the change in directors is enclosed as Annexure 1.
      4. Approved appointment of Mr. Asit Kumar Labh (holding Membership No. ACS 32891 and C.P No. 14664) Practicing Company Secretary, 40, Weston Street, 3rd Floor, Kolkata - 700013 as Secretarial Auditor of the Company for the Financial Year 2022-2023, to conduct Secretarial Audit pursuant to Section 204 of the Companies Act, 2013, read with rules thereunder and Regulation 24A of SEBI (LODR) Regulations, 2015, as amended and issue report thereon, on the remuneration as may be decided by the Board of Directors and the Auditor.
      5. Approved appointment of Ms. Amber Ahmad (holding Membership No. FCS 9312 and C.P No.8581) Practicing Company Secretary, Amber Ahmad & Associates, Bagati House, Room No. 12, 34, Ganesh Chandra Avenue, Kolkata-700013 as Auditor for the Financial Year 2022-2023, to conduct Reconciliation of Share Capital Audit pursuant to Regulation 76 of SEBI (DP) Regulations, 2018 and issue report thereon, on the remuneration as may be decided by the Board of Directors and the Auditor.
  • The Board of Directors have accepted the offer for sale of company’s land with constructed property situated at Valthera, Ahmedabad to Narayan Muni Spintex Private Limited and has executed an agreement on 11.10.2021 and received Rs.13,49,00,000/- (Rupees Thirteen Crores Forty-Nine Lakhs only) as consideration towards full and final settlement.
  • The Board of Directors in their meeting held on 1st October, 2021 have accepted the offer for sale of company’s land with constructed property situated at Valthera, Ahmedabad for the consideration of Rs.13,49,00,000/- (Rupees Thirteen Crores Forty-Nine Lakhs only) to Narayan Muni Spintex Private Limited. The Buyer has already paid the sum of Total Rs.5,00,00,000/- (Rupees Five Crores) and balance Rs,8,49,00,000/- (Rupees Eight Crores Forty Nine Lakhs Only) will be paid by demand Draft at the time of execution of sale deed. The Company shall register the final sale deed in favour of buyer on the date i.e. any day falling within 7 (seven) working days from removal of recording of mortgage.
  • The Board of Directors of the Company at the meeting held on 30th June, 2021 have reappointed
      1. Mr. Asit Kumar Labh (holding Membership No. ACS 32891 and C.P No. 14664) Practicing Company Secretary, 40, Weston Street, 3rd Floor, Kolkata - 700013 as Secretarial Auditor of the Company for the Financial Year 2021-2022, to conduct Secretarial Audit pursuant to Section 204 of the Companies Act, 2013, read with rules thereunder and Regulation 24A of SEBI (LODR) Regulations, 2015, as amended and issue report thereon, on the remuneration as may be decided by the Board of Directors and the Auditor.

        Brief Profile of Mr. Asit Kumar Labh

        Mr. Asit Kumar Labh is a Commerce Graduate and a Qualified Practising Company Secretary having Membership No. ACS 32891 and Certificate of Practice No. 14664 issued by the Institute of Company Secretaries of India (ICSI). He is also Peer Review Certified by ICSI. He has a post qualification experience of more than 8 years in rendering qualitative professional services in the field of Company Law, Banking, SEBI, Capital Market and the entire gamut of various aspects of Corporate Affairs. He has been serving diversified clientele in both public and private sector across several parts of the country. He is associated with A. K. Labh & Co., a renowned firm of Practising Company Secretaries in Kolkata.

      2. Ms. Amber Ahmad (holding Membership No. FCS 9312 and C.P No.8581) Practicing Company Secretary, Amber Ahmad & Associates, Bagati House, Room No. 12, 34, Ganesh Chandra Avenue, Kolkata-700013 as Auditor for the Financial Year 2021-2022, to conduct Reconciliation of Share Capital Audit pursuant to Regulation 76 of SEBI (DP) Regulations, 2018 and issue report thereon, on the remuneration as may be decided by the Board of Directors and the Auditor.

        Brief Profile of Ms. Amber Ahmad

        Amber Ahmad is a qualified Fellow Member of the Institute of Company Secretaries of India (ICSI), with a professional experience of more than 10 years, academically-astute with Bachelor of Commerce (Honors) and Masters of Commerce from Calcutta University along with well-honed expertise in Secretarial, Legal, Accounting and Finance. Started working with medium sized manufacturing and trading concerns, followed by internship at a renowned firm of Company Secretaries in Kolkata as Management Trainee from September 2007 till December 2008. Joined an NBFC Company listed with the Calcutta Stock Exchange as Company Secretary for a brief period thereafter entered into Whole-time Practice in the year 2009. She has also been a member of the committee of Practicing Company Secretaries of India, Eastern Region (EIRC).
  • The Board of Directors of the Company, at its meeting held on 9th February, 2021, has appointed Ms. Varsha Gupta (DIN: 09047421) as an Additional Director (Independent & Non-Executive) with effect from 9th February, 2021. The appointment is being made to fill up the vacancy of an Independent and Woman Director. Ms. Varsha Gupta is not related to any of the Director of the Company.

    Brief Profile of Ms. Varsha Gupta

    Ms. Varsha Gupta, born on 30th November, 1993 holds Bachelor of Commerce with Accountancy Honours degree from Calcutta University and has experience in the field of accounts, finance and other applicable laws. She is an associate member of the Institute of Company Secretaries of India (ACS 54566). Ms. Varsha Gupta holds nil shares in the Company.

    Appointment Letter of Ms. Varsha Gupta
  • Ms. Zohra Tabassum (DIN: 08103558) has tendered her resignation from the position of “Non-Executive Independent Director” of the Company. The Board of Directors of the Company in their meeting held on 9th February, 2021 has accepted her resignation from the close of business hours on 9th February, 2021 and has appreciated her valuable contribution and support during her term as the Director of the Company.

    Resignation letter of Ms. Zohra Tabassum
  • The work has resumed at the registered office of the Company situated at w.e.f. 9th December, 2020.
  • The Board of Directors in their meeting held on 10th November, 2020 have accepted the offer for sale of company’s land with constructed property situated at Walthera, Ahmedabad for the consideration of Rs.12,91,00,000/- (Rupees Twelve Crores Ninety One Lakhs only) to Narayan Muni Spintex Private Limited and has also entered into an agreement to sell the said property.
  • The Board of Directors in their meeting on 30th July, 2020 have appointed Mr. Madanlal Sharma as the Chief Financial Officer of the Company.

    Brief Profile of Mr. Madanlal Sharma

    Mr. Madanlal Sharma, born on 10th December, 1956, aged about 64 years holds Bachelor of Arts degree. Mr. Sharma has more than 40 years of experience in the field of Accounts, Material procurement and General Administration. Mr. Sharma holds nil shares in the Company.
  • The shareholders in the 28th Annual General Meeting of the Company have approved the appointment of M/s Jain & Co, Chartered Accountants (Firm Registration No. 302023E) P 21/22 Radha Bazar Street, Kolkata-700001 as Statutory Auditors of the Company for a period of 5 years commencing from the conclusion of the 28th Annual General Meeting till the conclusion of the 33rd Annual General Meeting of the Company.
  • Due to preoccupation, Mr. Murarilal Bishwanath Choudhury, CFO would not be able to devote time for discharge of responsibilities and has therefore tendered his resignation. He would be relieved from his official duties at the closing of business hours on 10th February, 2020.
  • Mr. Susanta Banerjee, Non Executive Director (DIN: 01173116) of the Company left for heavenly abode on 5th April, 2019. All the directors and employees of the Company conveyed their deep sorrow and condolences to his family.
  • The Board of Directors in their meeting held on 15th May, 2019 have appointed Mrs. Manisha Gupta (ACS:A47310) as the Company Secretary & Compliance Officer of the Company.

    Brief Profile of CS Manisha Gupta

    Ms. Manisha Gupta (ACS: A47310), is a young qualified Company Secretary and a Member of the Institute of Company Secretaries of India (ICSI). She is also a Graduate in Commerce from the University of Calcutta. CS Manish Gupta is appointed by the Company as a Company Secretary & Compliance Officer w.e.f. 15th May, 2019 and she will be responsible for all the compliances of the Companies Act, Secretarial Standards, SEBI Regulations and Listing Regulations as may be applicable to the Company from time to time.

    The Board of Directors of the Company, at its meeting held on 15th May, 2019 have appointed Mr. Sanjay Kumar Chaurasia as an Additional Director (Non-Executive) .The appointment is being made to comply with the provisions of Companies Act, 2013. Mr. Chaurasia is not related to any of the Director of the Company.

    Brief Profile of Mr. Sanjay Kumar Chaurasia

    Mr. Sanjay Kumar Chaurasia (DIN:08453443), born on 17th January, 1983 aged about 36 years holds Master in Business Administration and Bachelor of Commerce degree. Mr. Chaurasia has17 years experience in the field of Accounts, Indirect Tax and Marketing. He holds Directorship in Nil Companies Mr. Sanjay Kumar Chaurasia holds nil shares in the Company.

    Mrs. Manisha Gupta, Company Secretary and Compliance Officer has been authorised to disclose the information as may be required under Regulation 30(5) of SEBI (LODR) Regulations, 2015 to Stock Exchanges by the Board of Directors in the Meeting held on 15th May, 2019.
  • Mr. Umang Kanoria, Managing Director(DIN;00081108) shall act as the Compliance Officer of the Company in terms of Regulation 6 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 with effect from 7th January, 2019 till such time the Company appoints a Company Secretary.
  • Due to unavoidable circumstances, Ms. Sohini Shukla submitted her resignation from the post of Company Secretary and Compliance Officer with effect from 16/11/2018 and she is relieved from the services of the Company on the closing hours of 16/11/2018.
  • Transfer of Shares in Physical mode to be discontinued
    SEBI vide Notification No. SEBI/LAD-NRO/GN/2018/24 dated 8th June, 2018 and BSE vide Circular no. LIST/COMP/15/2018-19 dated 5th July, 2018 has mandated that except in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in dematerialized form with a depository after 5th December, 2018. Shareholders are requested to convert their shares from physical to demat mode at the earliest, to comply with the legal provisions for transfer of shares prescribed by the Securities and Exchange Board of India. Please contact your nearest Depository Participant (DP), who will guide you in opening the same. The process on how to dematerialise shares is also available here.
  • Due to preoccupation, Mr. Sushil V Tewary, COO and CFO would not be able to devote time for discharge of responsibilities and has therefore tendered his resignation. He would be relieved from his official duties at the closing of business hours on 31st May, 2018.
  • The 27th Annual General Meeting of the Company is scheduled to be held on Wednesday, 19th September, 2018 at 4:00 P.M at Bharatiya Bhasha Parishad, Fourth Floor, 36A Shakespeare Sarani, Kolkata-700017. Pursuant to Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is providing remote e-voting facility to its members. The cut-off date for the purpose of determining members for remote e-voting facility is Wednesday, 12th September, 2018.The remote e-voting period shall commence from Sunday, 16th September, 2018 (9:00 A.M) and ends on Tuesday, 18th September, 2018 (5:00 P.M). The Register of Members and Share transfer Books shall remain closed from Thursday, 13th September, 2018 to Wednesday, 19th September, 2018 (both days inclusive) for the purpose of 27th Annual General Meeting.
  • Ms. Zohra Tabassum has been appointed as an Additional Director (Independent & Non-Executive) with effect from 7.04.2018.The appointment is being made to fill up the vacancy of an Independent and Woman Director. Ms.Tabassum is not related to any of the Director of the Company.

    Brief Profile of Ms. Zohra Tabassum
    Ms. Zohra Tabassum, born on 25th August, 1985 holds Bachelor of Commerce with Accountancy Honours degree from Calcutta University and has experience in the field of accounts, finance and other applicable laws. Ms. Zohra Tabassum holds nil shares in the Company.
  • The Extraordinary General Meeting of the Company is scheduled to be held on Wednesday, 16th May, 2018 at 2:00 P.M at Bharatiya Bhasha Parishad, Fourth Floor, 36A Shakespeare Sarani, Kolkata-700017 to seek the approval from the Shareholders of the Company as required under Section 180(1)(a) of the Companies Act, 2013. Pursuant to Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is providing remote e-voting facility to its members. The cut-off date/ record date for the purpose of determining members for remote e-voting facility is Wednesday, 9th May, 2018.The remote e-voting period shall commence from Sunday, 13th May, 2018 (9:00 A.M) and ends on Tuesday, 15th May, 2018 (5:00 P.M).
  • The Board of Directors has considered to sell/transfer/dispose of its Textile unit either in whole or in part, comprising of all tangible assets, accessories or any item or parts directly or indirectly related with it in whole or in part pertaining to the said unit, situated at Kanco Overseas, Ahmedabad (Gujarat) , subject to the approval of the Shareholders as required under Section 180(1)(a) of the Companies Act, 2013.
  • The accounts had been declared NPA by both SBI, IDBI and Litigations filed by the Lenders and the Company is going on. It is been around two years that the factory has stopped operations. The market conditions continue to be bleak for spinning industry with a number of older spinning units shutting down production. The existing plant and machinery are obsolete and are not likely to fetch much value, further as the plant is closed there is further deterioration both in the condition of machinery and the likely price that it will fetch. The principal reasons for low valuation of the Unit are technological obsolescence and slew of incentives offered to new spinning units by various State Governments. The Company taking into account the above factors has submitted an OTS proposal to both SBI and IDBI for their consideration and approval.

    The One Time Settlement (OTS) proposal submitted to the IDBI Bank has been accepted by the Bank and the and brief summary of the OTS are as follows

    Brief summary of the OTS
    1 Crystallised Amount Rs. 750 lakh
    2 Payment Schedule

    Up-front Payment

    (i) Rs.75 lakh (10%) on the date of submission of the proposal. (amt. received)

    (ii) Rs.75 lakh ( 10%) on the date of acceptance of NS offer/ issuance of NS letter by IDBI

    Balance payment

    (i) Rs.300 lakh (40%) to be paid within 90 days of acceptance of this NS offer/ issuance of NS letter by IDBI

    (ii) Balance Rs.300 lakh (40%) to be paid within 180 days of acceptance of NS offer/issuance of NS letter by IDBI.
    3 Payment of interest Interest on the balance outstanding NS amount after 90 days shall be charged @ 1 year MCLR+2% starting 15th day from the date of acceptance of NS offer till 180th day from the date of acceptance of NS offer or till payment of full compromise amount.
    4 NOC for partial release of security NOC for sale of Plant & Machinery shall be issued on receipt of total amount of Rs 300 lakh (including upfront amount)

    The One Time Settlement (OTS) proposal submitted to the State Bank of India has been accepted by the Bank and the and brief summary of the OTS are as follows

    Brief summary of the OTS

    1 Crystallised Amount Rs. 16.25 Crores
    2 Payment Schedule

    Up-front Payment

    (i) Rs. 0.76 Crores paid by the Company has been appropriated towards the settlement amount and a further amount of Rs. 1.68 Crores is payable by 09/03/2018.

    (ii) Balance payment

    (i) Rs. 4.50 Crores to be paid within 22/05/2018

    (ii) Rs. 4.50 Crores to be paid within 22/08/2018

    (iii) Rs. 4.81 Crores to be paid within 22/11/2018
    3 Payment of interest No interest will be paid on the compromise amount if paid within three months of the receipt of this approval. Interest will be charged at Base Rate plus 2% (10.65%) on the residual amount is to be charged from 15th day of conveyance on the balance amount.
 
  • Due to preoccupation, Ms. Puja Borar, Independent Director, has resigned from the Board of Directors of the Company with effect from 6th February, 2018
  • The Equity Shares of the Company permitted to be traded on Bombay Stock Exchange Limited will be discontinued with effect from close of business hours of 14th November, 2017
  • The Register of Members and Share transfer Books shall remain closed from Friday, 28th July, 2017 to Thursday, 3rd August, 2017 (both days inclusive) for the purpose of 26th Annual General Meeting.

    The venue for the 26th Annual General Meeting of the Company scheduled to be held at "Bharatiya Bhasha Parishad", 36A, Shakespeare Sarani, Kolkata - 700017 has been shifted to "Shripati Singhania Hall", ROTARY SADAN, 94/2, Chowringhee Road, Kolkata-700020 on 3rd August, 2017 at 4:00 p.m.
  • Pursuant to Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is providing remote e-voting facility to its members. The cut-off date for the purpose of determining members for remote e-voting facility is Thursday, 27th July, 2017. The remote e-voting period shall commence from Monday, 31st July, 2017 (9:00 A.M) and ends on Wednesday, 2nd August, 2017 (5:00 P.M).
  • The 26th Annual General Meeting of the Company is scheduled to be held on Thursday, 3rd August, 2017 at 4:00 P.M at Bharatiya Bhasha Parishad, 36A Shakespeare Sarani, Kolkata-700017
 
  • Meeting of the Board of Directors of the Company will be held on Monday, 29th May, 2017 to consider inter alia and approve the Audited Financial Results of the Company for the quarter/ year ended 31st March, 2017. As per the Company’s Internal Code for Prevention of Insider Trading framed pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the securities of the Company is closed from 22nd May 2017 till 31st May, 2017(both days inclusive).
 
  • The Board of Directors in their meeting held on 15th May, 2017 have appointed Ms. Sohini Shukla,(ACS:A48409) as the Company Secretary & Compliance Officer of the Company with effect immediate effect.Ms. Sohini Shukla, Company Secretary and Compliance Officer has been authorised to disclose the information as may be required under Regulation 30(5) of SEBI (LODR) Regulations, 2015 to Stock Exchanges. She may be contacted at email id: compliance@kanco.in and telephone no. (033) 22815217.
 
  • Brief Profile of CS Sohini Shukla(Company Secretary and Compliance Officer)

    Ms. Sohini Shukla (ACS: A48409), is a young qualified Company Secretary and a Member of the Institute of Company Secretaries of India (ICSI). She is also a Graduate in Commerce from the University of Calcutta. CS Sohini Shukla is appointed by the Company as a Company Secretary & Compliance Officer w.e.f. 15th May, 2017 and she is responsible for all the compliances of the Companies Act, Secretarial Standards, SEBI Regulations and Listing Regulations as may be applicable to the Company from time to time.
 
  • The trading of Equity Shares of the Company permitted to be traded on Bombay Stock Exchange Limited platform suspended due to procedural reasons with effect from 8th March, 2017 has resumed under Group XD. The details are as follows:-
    Security ID KANCOENT
    Group XD
    Security Code 590084
    ISIN INE248D01011
 
  • Subsequent to the resignation of Ms. Anupama Goel, Company Secretary and Compliance Officer, Mr. Sushil V Tewary, the Chief Operating Officer and Chief Financial Officer of the Company is appointed as the Compliance Officer with effect from 20th December, 2016 till such time the Company appoints a Company Secretary and that the Board of Directors have authorised Mr. Sushil V Tewary, Compliance Officer to disclose the information as may be required under Regulation 30(5) of SEBI (LODR) Regulations, 2015 to Stock Exchanges and he may be contacted at email id: compliance@kanco.in or clk.kanco@gmail.com and telephone no. (033) 22815217.
 
  • Ms. Anupama Goel, Company Secretary & Compliance Officer of the Company has resigned and has been relieved from her official duties at the closing of business hours on December 19, 2016.
 
  • The trading window for dealing in securities of the Company will be closed from 8th May, 2017 till 17th May, 2017 on account of changes in Key Managerial Personnel – Appointment of Company Secretary by the Boards of Directors in their meeting to be held on 15th May, 2017.
 
  • The Equity Shares of the Company permitted to be traded on Bombay Stock Exchange Limited platform is suspended due to procedural reasons with effect from 8th March, 2017. The Company on further enquiry found that a notice to this effect has been published on BSE’s website on 28.02.2017.Please note that no such copy of notice was served on the Company either over email or by post. The Company is contemplating to take suitable course of action in this matter in due course of time.
 
  • The trading of Equity Shares of the Company permitted to be traded on Bombay Stock Exchange Limited platform suspended due to procedural reasons with effect from 8th March, 2017 has resumed under Group XD.
 
  • Meeting of the Board of Directors of the Company will be held on Friday, 11th November, 2016, to consider inter alia and approve the Unaudited Financial Results for the quarter and half year ended 30th September, 2016. As per the Company's Internal Code for Prevention of Insider Trading, the trading window for dealing in the securities of the Company is closed from 4th November, 2016 to 13th November, 2016.
 
  • The trading window for dealing in securities of the Company will be closed from 7th May, 2016 till 16th May, 2016 on account of Changes in Key Managerial Personnel   – Appointment of Company Secretary by the Board of Directors in their Meeting to be held on 14th May, 2016.
    1. The Board of Directors in their meeting held on 14th May, 2016, have appointed Ms. Anupama Goel, as the Company Secretary & Compliance Officer of the Company with immediate effect.
    2. Ms. Anupama Goel, Company Secretary and Compliance Officer has been authorised to disclose the information as may be required under Regulation 30(5) of SEBI (LODR) Regulations, 2015 to  Stock Exchanges by the Board of Directors in the meeting held today i.e 14th May, 2016. She may be contacted at at email id: compliance@kanco.in and telephone no. (033) 22815217.
  • Profile of Company Secretary
 
  • Ms. Charulata Kabra, Company Secretary & Compliance Officer of the Company has resigned and would be relieved from her official duties at the closing of business hours on November 16, 2015
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