Blue Chip India Share price

Incorporated as a Public Limited Company on June 27 1985in the erstwhile National Capital Territory of Delhi andreceived the Certificate of Commencement of Business onAugust 5 1985. The Registered office of the Company wasShifted from the national Capital territory of Delhi to theState of West Bengal at Calcutta on 15.10.93 andconsequently it received a certificate of Registrationconfirming transfer of registered office from the Registrarof Companies West Bengal on 27.10.93.AMALGAMATION:Bhawna Finvest Private Limited and Kumar Vardhanam CreditPrivate Limited two companies that were engaged in thebusiness of investment in shares and securities and shortterm financing were amalgamated with the Company pursuantto the order dated 11.04.94 of the Hon''ble High CourtCalcutta. Accordingly the shareholders of Bhawna finvestPrivate Limited and Kumar Vardhanam Credit Private Limitedwere allotted 1 (one) equity share of Rs. 10/- each in thecompany in exchange of every 1 (one) share of Rs. 10/-each held. The paid up Capital increased by Rs. 318.41lacs on issue of 3184100 of Rs. 10/- each on 1.6.94 tothe shareholders of the amalgamated companies consequent toits amalgamation with the Company.The consideration of 169.19 lacs and 149.22 lacs for BhawnaFinvest Private Limited and Kumar Vardhanam Credit PrivateLimited respectively has been arrived at after taking intoaccount the Book Value profitability and growth potentialof all the Companies and the same has been approved by theHon''ble High Court Calcutta.Rationale behind amalgamationThe two Companies Shawna Finvest Pvt. Limited and KumarVardhanaam Credit Pvt. Limited were engaged in the sameline of business as Blue Chip India Ltd. (BCIL) Byamalgamating the two Companies BCIL was in a betterposition to consolidate the group structure and provideoverall business efficiency and to combine the managerialand marketing strength. Moreover the amalgamation alsohelped in building a wider Capital and financial base andreduction of overheads.