PANABYTE TECHNOLOGIES LIMITED

Panache Technologies Limited was formerly incorporated with the name as 'Ruby Traders & Exporters Limited' on June 16, 1981. The Company name then was changed from 'Ruby Traders & Exporters Limited' to 'Panache Innovations Limited' through Fresh Certificate of Incorporation dated March 23, 2017 and thereafter the name changed from Panache Innovations Limited to Panache Technologies Limited effective from 25th October, 2022. Company is primarily engaged in trading of Consumer Electronic & Electrical Goods and IT Hardware & its peripherals and Installation as well as Maintenance of Surveillance and Biometric systems. During the year 2015-16, Mr. Sonal Gupta was the promoter of the Company. However, pursuant to open offer under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, Act 2011, the shares of promoter were acquired by the acquirer and hence post completion of open offer, which was after the reporting period 2015-16, the new promoters of the Company as on 31 March 2016 are Amit Rambhia, Nikit Rambhia and Devchand Rambhia. During the year 2017, Company changed the main objects of the Company from trading in textiles to manufacture, trade, distribution of Information Technology Products vide resolution passed by the members of the Company on 1st April, 2016 and the same was approved by the Registrar of Companies, West Bengal through Certificate of Registration of the Special Resolution Confirming Alteration of Object Clause on 10th June, 2016 and the Company has done well in this area of business. Further the Company in order to expand the business plans proposed to enter in to the market of dealing in water bottles containing ionized water. The Company incorporated a wholly owned subsidiary under the name 'Eddy and Andy International Limited' on 18th July, 2016. During the year under review 2018, Panache Innovations DMCC became wholly owned subsidiary of the Company. During the year 2019, the company altered its Main Object Clause of Memorandum of Association to increase, expand and diversify the business of Company backed with the objective of carrying on business more efficiently and effectively. In 2019-20, the Company Hyundai Mobile Power Bank in strategic alliances with ecommerce platforms; launched Hyundai Inverter Led Batten 20W in India and also launched Hyundai Led Bulb 7W,9W & 12W Led Bulb. It then launched MOTOROLA FIXED WIRELESS PHONE as 'MAKE IN INDIA'. It developed wide network of 500+ Channel Distributors across India who operate as Secondary er and responsible to promote and distribute products to third er (dealer's/ End customers/ SME's). In 2022-23, the Company launched 'Panache' Brand in Telephone Category i.e., Corded Landline Phone, Fixed Wireless Phone; launched new product like Rechargeable Led Lantern, 9W Speaker Bulb in FMCG goods product category to acquire additional set of customers through existing distribution network. The new Vertical opening focusing on Project based Services, AMC of Large Corporates, CCTV Surveillance etc. The Company further launched HYUNDAI NOVA, LED Rechargeable Lantern to supply emergency lighting in Developing country like India.