Sanghi Corporate Services Limited was incorporated on 27th October, 1989 and obtained Certificate of Commencement of Business on 27th November, 1989 from the Registrar of Companies Maharashtra, at Bombay. The Company commenced its business of dealing in odd lot shares from March, 1990. The Company is at present engaged in the business of securities and stock. The Company has applied to SEBI on 16th May 1992 for registration of intermediaries associated with the Securities dealers in securities outside stock exchange. The application is pending as on date with SEBI. The Company has also applied to SEBI for registration as Merchant Banker - Category III in January, 1994. The Company is a non-banking finance company (NBFC) having net owned funds more than Rs 50 lacs, and has obtained registration from the RBI with Registration No:600.0100 dated 20th July, 1994 Ref No.R.59/BM(MH)IC(S) 1320/94-95. In terms of this registration, the company would classify as a 'Loans and Investment Company' since the main business of the company comprises dealing in odd lot/marketable lot of shares and debentures of listed companies. The company will be required to comply with the provisions of the various Directions issued by the Bank as amended from time to time, applicable to companies registered with the Reserve Bank. Failure to comply with the Directions would render the company and the directors and the officers vested with management liable to the penalties under Section 58B of the Reserve Bank of India, 1934 read with Section 58C ibid, besides suspension/cancellation of the registration.The Bank may also suspend/cancel the registration if at any time the net owned funds of the company, computed on the lines indicated by RBI falls below Rs. 50 lacs. MAIN OBJECTS OF THE COMPANY The main objects of the Company is set out in the Memorandum of Association of the Company are as under: 1. To carry on the business as consultants in financial, investment, saving, stocks and shares, debentures and bonds, real estate, leasing hire purchase, taxation, accounting, legal fields and other fields, allied to the foregoing and carry on the business of underwriting, finance broking, managing the raising of capital or loans by government, bodies corporate or other juridical and natural persons, management of funds, finance resources of persons, management of portfolios, growth funds and other funds, dealing, buying and selling or speculation in shares, securities, debentures, bonds quoted on stock exchange or otherwise within the provisions of law prevailing for the time being and to carry on the business of underwriters, managers, registrars, advisors, consultants to shares, stocks, debentures, bonds and public securities. 2. To carry on in India or elsewhere business of consultants and Advisors to and for the benefits of any persons, association, firm, company, corporation, organisation or institution in respect of factories, industries, works, plants, mines, industrial trading and commercial establishments and other units, concerns and undertakings or any nature or kind for matters relating to technical, operations industrial know-how, project and/or design, engineering, scientific and other research, feasibility studies, financial, budgetary control, taxation, legal, industries and other labour relations, company promotion and formation, Company Law, excise customs, import and export and all other matters in any way connected or concerned with relating thereto. PRESENT BUSINESS OF THE COMPANY The company's present business comprises of dealing in odd lot/marketable lot shares and debentures of listed companies. The Company purchased odd lot shares directly from customers or through agents at 10 % discount on lowest market price of previous day. The shares are immediately sent for transfer within two three days of purchase. The company issues post dated cheques payable after 45 days. If there is any objection in the shares sent for transfer, the company receives the objection memo within 45 days and accordingly the bank is instructed not to honour the cheque. Usually the shares arereceived duly transferred within 60 days from the date of lodgement for transfer. Once these shares are received duly transferred the same are sold to the customers/agents the best market rate of the previous day against spot payment to regular agents/customers. The Shares are also sold through recognised brokers of stock exchanges, in which case the payment is received as per market rules. Sometimes it does happen that by the dime duly transferred shares are not sold but held till the purchase price is achieved. However if the share prices are falling continuously then in order to reduce the losses the shares may also be sold below the purchase rate. The Company has over 300 satisfied regular clients.The Company has also appointed over 50 agents on all India basis who regularly deal on behalf of their investors/clients and are fully responsible for all financial commitments made by them on behalf of their clients/investors. 2008 -E-mail ID for Investors Complaints :sanghi_mumbai@yahoo.com.