Silicon Valley Infotech Ltd

Silicon Valley Infotech Ltd

Incorporated in 1983 as Public Limited Company Prashant Products & Holdings Limited was subsequently changed to Prashant Global Finance Limited in 1985 and finally to Silicon Valley Infotech Ltd. The company was originally promoted by Ram Babu Kabra. The company is engaged in the business of Financial Services. As a part of the diversification programme the company had set up 2.46 MW wind farm project at Kayathar in Tamilnadu. Elmostate Electron Limited and Arihant Investment Trust Limited two companies that were engaged in the business of investment in share and securities and advancing of short term financing were amalgamated with the company. To part finance the diversification programme the company made a public issue in Feb.'96.During 1996-97 the company had rolled over the existing stocks at a favourable price and booked substantial profits as the market throughout the year showed no signs of improvement and recovery from the depression it had got into. As a result the booking of marginal profits in some scrips that were traded had resulted in a much lower level of income than anticipated.