MY MONEY SECURITIES Share price

MY MONEY SECURITIES LIMITED was incorporated as PrivateLimited Company on 05.03.92 in the name of FelicitateInvestment Private Limited under the Companies Act 1956and changed its name to My MONEY SECURITIES PRIVATE LIMITEDon 16.06.94. The Company has been converted into a publiclimited company on 28.09.95.The company was originally promoted by Mrs. Rita Arora andMs. Mamta Miglani as the subscribers to the Memorandum inthe year 1992. The management and control of the Companywas taken over by Sh. Sanjai Seth Sh. Vikas Seth and Smt Rajni Seth on 11th January 1993 who are the presentpromoters of the Company. The paid up capital of theCompany at that time was only Rs. 200/-. There was nodispute between the original and the present promoters.At present the company is involved in investments insecurities and syndication and placement of funds.The company has obtained the dealership of OTC Exchange ofIndia vide their letter no. CIR/DEAL-OFFER/CP3/1606 dated24.8.95 and have been allotted dealership no. 4454. Thecompany has given necessary undertakings dated 28.9.95 toOTCEI for compliance of various terms and conditionsstipulated by OTCEI. As on 5.1.96 the company hasdeposited Rs. 6.25 lacs with OTCEI as admission fees andfirst year annual fees. The company has also obtainedregistration with SEBI as a Stock Broker vide registrationno. INB200864032 dated 19.1.96.The company has obtained membership of National StockExchange of India in the Capital Market Segment vide theirletter no. NSE/ MEM/CM/5224 dated 7.8.95 and have beenallotted NSE code no. B-267. As on 5.1.96 the company haspaid Rs. 57 lace to NSE as detailed in the table ofDeployment of Funds'' above.The company has already paid the necessary fees to OTCEIand NSE. The company has also given necessary undertakingsto OTCEI and NSE for compliance with various terms andconditions stipulated by them respectively.The main terms and conditions stipulated by NSE and OTCEIand their status are as follows: NATIONAL STOCK EXCHANGE STATUS1. Interest free security deposit of Paid Rs. 600000/- (Rupees Six lacs only) to cover the estimated cost of VSAT equipment UPS and installation thereof.2. A No objection certificate from the Received owner of the building on which the company intends to install the Dish-Antenna.3. Registration with SEBI alongwith Applied for a registration fee of Rs. 5000/-.4. A Membership undertaking and a VSAT Undertaking undertaking to be signed by the company. given5. To join the centralised insurance policy Complied arranged by NSE for all Trading Members in the Capital Market segment. 6. To contribute to the Investor Protection Complied Fund for the Capital Market Segment set up by NSE.7. In the Memorandum of Association of the Complied company Stock-broking should be one of the main objects of the company.8. The company to completely discontinue Complied all fund based activities and to furnish a certificate from the auditors that the company does not carry any assets related to such activities in its books. Besides the company should give an undertaking that it will neither undertake any fund based activities nor engage in any business other than that of securities in future.9. The minimum prescribed net worth as Complied defined in by NSE to be satisfied. Networth certificate to be based on audited books of account in the prescribed format and certified by a Chartered Accountant to be furnished. In case the company is a member of any other Stock Exchange(s) it should satisfy the Combined minimum net worth requirements of all these Stock Exchanges including NSE.10.Shareholdings:A. The dominant promoter group should Complied consist only of individuals not more than four in number who should directly hold atleast 40% of the paid-up capital in case of listed companies and atleast 51% in case of other companies and not through any corporate entity firm or HUF. For this purpose dominant group would mean the group which holds by itself the maximum number of shares in the Trading Member company at the time of admission. The shareholding of close relatives namely parents spouse children and their descendants brothers and sisters may also be counted for arriving at the dominant holding provided such relatives give unqualified and irrevocable support in writing to the individual concerned in respect of such shareholding.B. The shareholding of the directors and list Submitted of top ten shareholders and their percentage of holdings to be submitted.C. Companies planning to come out N.A. yet with public issue should submit a copy of the offer document/prospectus to NSE for prior perusal. These documents should be submitted at least 21 days before opening of subscription list.11.Organisation Structure Directors and Staff:A. Details of Board of Directors/Core Submitted Dealers of the Company have to be submitted.B. The company should have least two Complied directors each being atleast a graduate or equivalent and having a minimum of two years of direct experience in handling securities as broker subbroker authorised assistant badge holder remisier jobber or market maker etc.C. Each of the two directors mentioned in (B) Complied above should hold minimum 5% of the paid-up share capital of the company.D. At least one of directors mentioned in (B) Complied and (C) should be Whole-time director. The said whole-time director shall be resident at the centre for which Trading Membership is allotted to be the incharge of day-to-day operations.E. At least two dealers i.e. core Undertaking employees having minimum of two given years of experience in handling securities with a stock broking firm shall be appointed.F. Organisation chart of the Trading Submitted Member should be submitted.12.The company should have an office Complied space of at least of 750 sq. ft. exclusively for NSE operations at the centre the applicant has sought admission.OTCEI STATUS1. Payment of Admission fees of Rs. 5 lacs Paid and Annual fees of Rs. 25000/-.2. Registration with SEBI as a Stock broker Registered with payment of registration fees of Rs. 5000/-3. Possession of necessary infrastructure and N.A. yet completed training before activation of dealership.4. Activating the OTC counter and commence N.A. yet operations as per the schedule set by OTCEI. SUBSIDIARIES OF THE COMPANYAt present the Company does not have any subsidiary.