The other factors that started worrying me are:
- Mounting debt
- Most of the promoter holding is pledged
- Most of the disclosures to exchanges is done by the chairman & MD (Mr. Faruk G Patel) him self. I am wondering why are these not coming through a company secretary/compliance officer? Do they have in place ? Now a days even smallest SME companies have this position in the company.
- Also, I have a feeling that they are paying dividend for the sake of paying. I would rather expect the company to come forward with a plan to reduce the debt and release the pledged shares.
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