AMS Polymers Ltd

AMS Polymers Ltd (Sai Moh Auto links Ltd) is a limited company incorporated in March 22, 1985. The company is engaged in the business of trading of chemical.During the year 2016, the company has forfeited 9,47,900 equity shares of Rs. 10/ each on account of nonpayment of call money of Rs. 7.50/ per equity share.To provide an opportunity to trade and provide liquidity in its shares to equity shareholders, during the year 2016, the company had applied to Bombay Stock Exchange Limited for getting its shares listed at the aforesaid Exchange under the Direct Listing Scheme formulated by BSE.The Board of Directors of the company in its meeting held on 23rd March, 2017 had approved the proposal for Scheme of Arrangement for Amalgamation of Annu Industries Private Limited (the Transferor Company) with the Company i.e., Sai Moh Auto Links Limited (the Transferee Company) as per the provisions of Section 230232 and any other applicable provisions of the Companies Act, 2013. The Board is in the process of finalization of scheme of merger and appointment of agencies including valuer, merchant bankers, and lawyers etc for taking up the process of merger.During the year under review, Mr. Anand Kumar and Mr. Arpit Goel, have acquired control over the affairs of the company on 15th February, 2017 and have been inducted as the new Promoters of the Company by acquiring upto 858,650 fully paid up Equity Shares of face value of Rs. 10 each constituting 26.00 % of the present paidup share capital of the Company pursuant to open offer made by them to acquire 858,650 equity shares and control of the company. Further, subsequent to the completion of open offer, Mr. Anand Kumar and Mr. Arpit Goel have also been appointed as the Managing Director and Director of the Company respectively. The Acquirers have intention to infuse the business of manufacturing and trading of specialty chemical, chemical adhesive etc. and carry research and development with this Company.During the year under review 2017, the Company got Listed with Bombay Stock Exchange Limited on 15 September 2016 to provide an opportunity to trade and liquidity in its shares to equity shareholders, under the Direct Listing Scheme formulated by BSE. The Company is also listed with Ahmedabad Stock Exchange, Ludhiana Stock Exchange Ltd., Delhi Stock Exchange Ltd. During the year under review 2018, the Company had changed the nature of its business activity and has started the chemical business. Necessary approval in this regard for change of main object clause of Memorandum of Association of the Company has already been obtained by the Company by way of Postal ballot and evoting from shareholders, the results of which were declared on 30th January, 2018.