If reports emerging in some newspapers are true (in such cases they usually are), the well known Sanghi industries seems to be a another pack of cards built on a staggering debt to capital ratio of 1:5. For a capital of Rs. 220 crores the Conglomerate is supposedly sitting on over Rs. 1000 crores of debt. What is true is the fact that despite declaring profits, the Company has neither cleared debts nor declared any dividends for the last 12 years! The hapless shareholders are even prevented from, attending AGM meetings by hired goondas. That such acts can prevail in today’s world are shocking to say the least. It is evident that the group was flourishing under a top political party’s blessings. It now remains to be seen if it will come clean of its wrong doings and clarify with full and fair facts for the benefit of all its shareholders.
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