UVS Hospitality and Services Share price

The Company was incorporated as a private limited companyon 16th May 1989 in the name of "Thirdwave ConsultantsPrivate Limited". The name of the Company was changed to"Thirdwave Financial Intermediaries Private Limited" and afresh certificate of incorporation was obtained on 21stApril 1995. Subsequently vide a special resolution passedin the Extra Ordinary General Meeting of the Company heldon 9th January 1995 the Company was converted intopublic limited company and a fresh certificate ofincorporation was obtained on 25th May 1995 from theRegistrar of Companies West Bengal.The Company started its activities in June 1989. TillMarch 1994 the Company was mainly engaged in handlingassignments as Registrar to an Issue and other relatedconsultancy services in the areas of management marketingand structuring of Public Issues. From the financial year1994-95 the Company entered into the financial services likeleasing inter-corporate financing etc. and dealing inshares and securities.Present Activities of the CompanyThe Company is presently engaged in Financial ServicesFinancial Advisory Services and Share Registrar business.Financial Services DivisionThis division is mainly engaged in the Business of AssetsFinancing Inter Corporate Deposits and other Short TermFinancing Investment and Dealing in Shares and Securitiesand Consultancy Services besides other incidental businesslike loan and lease syndication mergers and acquisitionsetc. Funds deployed and income earned from this divisionfrom 1st April ''95 to 31st August ''95 are as hereunder: (Rs. in Lakhs) Funds Deployed Income Earned -------------- -------------Asset Financing 12.00 2.95Short Term Financing 63.50 2.31Consultancy Services - 3.83Investment & Dealing in Shares etc. 5.89 1.08 ----- -----Total 81.39 10.17 ----- -----The average period of utilisation of funds in Short TermFinancing is two months.Share Registrar DivisionThe Company is having a Category I registration from theSecurities and Exchange Board of India (SEBI) to act asRegistrars to the Public Issues and act as SecuritiesTransfer Agent.The company so far has completed 10 public/rights issues ofwhich 2 public issues have been handled by it aftersecuring registration from SEBI upto 31.8.95. As on datethe company has 6 mandates in hand to act as Registrars tothe Issue. It has earned Rs.5.43 lacs from this divisionfrom 1st April''95 to 31st August''95.OthersThe company has applied for Registration with SEBI forCatego III Merchant Banker.SubsidiariesThe Company has a 100% Subsidiary viz. Thirdwave SecuritiesPvt.Ltd.(TSPL). However the company has been incorporatedon 11/9/95 and has not yet commenced operations and thusthe relevant financial data on the workings of theSubsidiary could not be given. The Authorized Capital ofthe company is Rs.25 Lakhs and the Issued and Paid UpCapital is Rs.2000. The company proposes to start thebusiness of OTCEI Dealership in TSPL once the OTCEI givesthe final approval. Thirdwave Financial Intermediaries Ltd.has been offered dealership of the OTCEI for Calcutta whichit intends to take in the name of its wholly ownedsubsidiary i.e.TSPL. However final approval for sucharrangement is still pending with the concerned authorities. The company does not have any other subsidarywithin the meaning of Section 4 of the Companies Act 1956.Till date Rs.1 lac has been paid by the holding company i.eThirdwave Financial Intermediaries Limited on behalf of thesubsidiary company i.e. TSPL a initial payment for securingthe Dealership Registration.