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SPRINGFIELDS SECURITIES LIMITED: was originally incorporated on 20th December 1993 as a Private Limited Company and was subsequently converted into a Public Limited Company on 10th March 1995 vide special resolution dated 2nd November 1994 in terms of Section 31(1)144 of the Companies Act 1956.Springfields Securities Limited project is promoted by Shri. P. Ramakrishna and their associates which includes Shri P.V.V. Raghu and Co-promoted by APIDC with the main object of providing brooking services to investors. The company has already acquired membership of Cochin Stock Exchange on 22-05-95 and has obtained provisional membership of National Stock Exchange (NSE) vide their letter dated May 29 1995. To expedite the Stock Broking business and proposed activities the Company took over all the assets of Shri P.Ramakrishna member Hyderabad Stock Exchange with complete infrastructure on an agreed value of Rs. 80.86 lacs the details of which are given under the head ''Purchase of Property''. Springfields Securities Limited proposes to enter the areas of stock broking arbitrage underwriting and marketing and procuring subscriptions for issues in the primary market.Springfield Financial Services Ltd. has funded the acquisition of Cochin Stock Exchange Membership through its nominee Shri P.V.V. Raghu. Sri. P.V.V.Raghu has acquired the Cochin Stock Exchange Card as a nominee of Springfield Financial Services Ltd. and the SEBI registration number is INB 090702910. Springfield Financial Services Ltd.has never been a member of Cochin Stock Exchange however Mr. P.V.V. Raghu as a member of Cochin Stock Exchange has never been suspended by SEBI/other appropriate authorities. The company has acquired the membership of cochin stock exchange for a consideration of Rs. 13.77 lacs plus interest & incidental charges of Rs.1.06 lacs and the last auction held on 28th November 1994 by the Cochin Stock Exchange was for Rs. 37.25 lacs.The Reserve Bank of India (RBI) has recently amended for NBFC further prudential norms for income recognistion capital adequacy asset categorisation provisioning for bad and doubtful debts and accounting standards etc.In this connection the company has as on 31.3.95 already filed return in prescribed format of first schedule and the norms of liquidity in the prescribed of appendix for the half year ending 31st March 1995. These developments augur well for the financial services Industry whose future would be largely by players with high capital adequacy who can offer high quality cost effective service aimed towards maximisation of customer satisfaction.SUBSIDIARY(IES) IF ANYThe company has no subsidiaries.