UPSURGE INVESTMENT & FINA Share price

UPSURGE INVESTMENT AND FINANCE LTD. was incorporated as aPrivate Limited Company on 28th June 1994 VideCertificate of Incorporation No 11 - 79254 issuer by theRegistrar of Companies Maharashtra. It was later convertedinto a Public Limited Company after passing the requiredSpecial Resolution on 5th September 1994 and a freshCertificate of Incorporation was obtained on 22ndSeptember 1994.The original subscribers to Memorandum and Articles wereMr. Sanjeev Garg and Mr. Ratnesh Chand Jain. They were alsothe first Directors of the Company as named in theCompany''s Articles. However they have transferred theirshares and have resigned from the Directorship. They arealso not involved in the activities of the Company sinceJuly 1994 when Mr. Balkrishna Goyal and Mrs. Navrati Guptathe present Promoters took over controlling interest.PRESENT BUSINESSThe Company has commenced operations with InvestmentsFinancial Consultancy & Syndication of Bills DiscountingInter-Corporate Deposits and Debentures. Under financialconsultancy it undertakes activities like preparation ofProject Reports offering advice on financial structuringetc.The investments are made both on short term and long termbasis. The short term investments are mainly trading insecurities. For the period ended 31/03/1995 the incomefrom these activities aggregated to Rs 0.35 Lacs.Financial consultancy and syndication services includepreparation of project reports advice on financialstructuring syndication of inter corporate deposits/billdiscounting and placement of debentures etc. The Incomefrom these activities for the period ended 31\03\1995 is Rs16.01 Lacs.The Company is yet to commence the other activities.The Company is planning to expand and diversify into fundand non- fund based activities like Lease financing BillsDiscounting Investment Banking and Project consultancy inaddition to its existing activities. The main thrust ofthe business will be towards providing Equity Researchservices and Consultancy services to NRIs.The Company will register with the Reserve Bank of India asa Non- Banking Financial Company as soon as its net worthcrosses Rs.50 lakhs.INVESTMENT DECISION MAKINGAll investment decisions will be made by the Board ofDirectors. The Company may delegate the powers to acommittee of Directors at a later stage. The broadinvestment policy is given below:1) Investments will be made in shares units debenturesand bonds.2) In the usual course of business Investments in shareswill not exceed 70% of the funds earmarked for investmentswhile the remainder will be in securities carryingfixed-returns.3) Long term Investments will be valued at cost whereasshort term investments will be valued at cost or marketvalue whichever is lower.4) All investments will be made based on in-house research.5) All investments will be reviewed every month.6) Buying/selling operations will be conducted through apanel of reliable brokers only.