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Swarnasarita Gems Ltd. Company History and Annual Growth Details

Shyam Star Gems Limited (hereinafter SSGL) was incorporated as a Private Limited Company on 25.08.1992 with the Registrar of Companies (Maharashtra) for taking over ther running business of M/s. Shyam Exports, an existing profit making partnership firm. It was subsequently converted into a Public Limited on 25.02.1993.

SSGL took over the assets of the firm at Book Value without any revluation for a total considertaion of Rs.6376883.00 on 30.09.1992. The assets taken over did not include any fixed assets. The consideration of Rs.6376883.00 was arrived at after deducting the total liabilities of Rs.15169598.00 from the total assets of Rs.21546481.00 as on the date of takeover.

M/s. Shyam Exports a firm belonging to Indian promoters of SSGL commenced its activities in 02.05.1989 and was engaged in the Business of importing Australian Rough Diamonds, getting the same polished/processed at units belonging to the Partners and exporting the same.

-Shyam Star Gems Ltd has informed that there has been a change in directorship of the Company with effect from December 20, 2007, by way of appointment of Mr. Devang Jayantilal Bhansali & Mr. Sanjay Jayantilal Bhanasali, whose name will be included in the promoter group of the Company with that effect.