Tips Music Share price

The Company was incorporated on 7th May 1999 in Mauritius as anOCB to carry out international trading and engage into anyoffshore business. The Company was originally promoted by Mr.Michael V. K. Lo Tiap Kwong and Ms. Tania Seksum. Ms. VarshaTaurani one of the promoters of Tips acquired 99.90% stake inDashmesh International Limited (Dashmesh) from these promoters.Tips has entered into Memorandum of Understanding dated 1stJuly 2000 with the shareholders of Dashmesh InternationalLimited for acquiring 100% stake in Dashmesh at par to makeDashmesh 100% subsidiary of Tips. Necessary formalities in thisregards are being carried out.The Board of Directors of Dashmesh are as under :1. Ms. Varsha Taurani2. Mr. Himmatsingh3. Mr. Michael V. K. Lo Tiap Kwong4. Tanya SeksumThe company is mainly engaged into marketing and distribution ofmusic and films of Tips as well as other companies in theinternational market.Tips has sold overseas distribution rights of music of 84 HindiFilms to Dashmesh International Limited on non-perpetual royaltybasis at a consideration of Rs. 130.50 lacs.Tips has purchased distribution rights for Indian of the twoalbums of Nusrat Fateh Ali Khan and one of Gulam Ali fromDashmesh International Limited on 20% royalty basis for threeyears. Out of these three the album "Aaja Mere Yaar" of NusratFateh Ali Khan has already been released and other two albumswill be released shortly.The financial year of the Company is for the period startingfrom 7th May 2000 to 30th June 2000. The audited results forthe same are not available.