BNR UDYOG Share price

Rathi Share & Stock Brokers Limited was incorporated as aPubic Limited Company on 29th November1994 and obtainedcertificate of commencement of business on 2ndDecember1994 with an object to take over the runningbusiness of M/s Rathi Bros - a partnership concern.The Company was incorporated with a view to reflect thebroad based activities in the field of securities andfinancial services related activities. To expedite theStock Broking Buisiness and proposed activities theCompany took over the running buisiness of M/s Rathi Bros -a partnership concern with complete infrastructure andexiting business as on 22.02.1995 (Closing hours). Between2.12.94 and 22.02.95 and prior to the acquisition of thefirm the Company earned a net profit of Rs. 0.22 lacs onpurchase and sale of securities.M/s Rathi Bros the partnership firm was promoted byShri.Hari Narayan Rathi and Shri Kamal Narayan Rathi. Thefirm was engaged in the business of providing Underwritingassistance lnvestment advice Share broking consultancy inthe Primary & Secondary markets. The Company has beenadmitted as Corporate Member of The Hyderabad StockExchange Ltd. Hyderabad and the same has been communicatedby the Stock Exchange vide their letter HSE:ADMN:95:705dated 31.01.1995 and also registered by SEBI vide theircertificate no.INB- 060695539 dated 23rd February 1995. Shri.Hari Narayan Rathi and Shri.Kamal Narayan Rathi arethe partners of the M/s Rathi Bros - a partnership concern.At the time of take over of the partnership firm theCompany has acquired the Membership Card of Shri.KarmalNarayan Rathi for a consideration of Rs.65.00 lacs and hasentered in to agreement of sale dated 31.01.1995.Some of the SaiIent Features of the agreement of Sale ofHSE Membership Card are as folIows1. The amount to be paid in Cash within one month from thedate of agreement.2. The seller assigns in favour of the Purchaser all therightstitles and benefits of the Membership of TheHyderabad Stock Exchange Ltd. The Company has recentlyapplied for OTCEl dealership vide loner dated 30.01.1995 todeal in OTC Exchange of India.B.MAIN OBJECT OF THE COMPANYThe Main objects of the company as stated in the Memorandumand Articles of Association are as follows:1. To carry on the business or profession of stock brokerdealer jobber market maker portfolio mangerunderwriter dealers or broker or agent in securitiesfinancial instruments capital market/ money marketinstruments of all kinds company deposits national savingcertificates and other government securities issued orguaranteed by a body corporate company public sectorcompany Government muncipality or any body in India orabroad whether they are listed or not for the time beingand to acquire or take over the running business ofpartnership fIrm M/s Rathi Bros Hyderabad as going concernpresently carrying on business/profession as brokers subbrokers underwriters jobbers members agents tradersfor all types of shares stocks etc. from immediate effectand to continue and run the business.2. To acquire hold sell buy or otherwise deal in anyshares units stocks debentures debenture-stock bondsmortgages obligations and other securities by originalsubscription tender purchase change gift or otherwiseand to subscribe for the same either conditionally orotherwise and to underwrite sub- underwrite or guaranteethe subscription thereof to purchase and sell abovementioned securities. 3. To establish and carry on the business of Merchantbanking and to provide custodian and depository servicesto act as clearing house portfolio manager registarsshare transfer agents leed managers co-manager managersof Investments pools advisors and consultants to raisecapital eaither through public issue or otherwise and toprovide the services or acquire securities in connectionwith the amalgamations takeovers and reconstructions ofcompanies and to arrange or participate in bought-out-dealsand placements of shares and other securities and to act assponsors and to promote or co-promote any other bodycorporate to manage the growth funds mutual funds venturewcapital funds risk capital funds.