tuesday, dt. 20.02.1973 seth laldas jamnadas seth j. r. motisha · 2018-08-16 · vidyutkumar...
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Tuesday, Dt. 20.02.1973
A meeting of the Governing board of the Stock Exchange was held today at S.T. 3.00
P.M. under the Chairmanship of Seth Laldas Jamnadas, wherein the under mentioned
members of the Board were present:
Seth Laldas Jamnadas Seth J. R. Motishaw
Seth Phiroze Jeejeebhoy Seth Vasantlal Kantilal Shah
Seth Jayant Amerchand Seth Babubhai Maganlal Gandhi
Seth Rasiklal Kantilal Seth Mathradas Samaldas
Seth Jasvantlal Chhotalal Seth Navinchandra C. Kampani
Seth Hiralal Girdharlal Seth Vasantlal Champaklal
Seth Gordhandas bhagwandas Seth Bissesarlal Khandelwal
Seth Vasantlal Jivatlal Seth Ashok Girdharilal Fozdar
The following business was transacted in the meeting
1. Resolved that the notices regarding Cum-right and Ex-right transactions in the
shares of the under mentioned companies mentioned against there names are
confirmed:
1 Greaves Cotton and Co. Ltd. Notice No. 2247/72 dated 20.12.72
2 Tube Suppliers Ltd. Notice No. 24/73 dated 3.1.73
3 Dharngadhra Chemicals Works Ltd. Notice No. 121/73 dated 23.1.73
4 Zandu Pharmaceutical Works Ltd. Notice No. 160/73 dated 31.1.73
5 Caira Can Co. Ltd. Notice No. 169/73 dated 5.2.73
2. Resolved that the notices giving permissions for dealing in Letters of Renunciation
of the new shares mentioned against the name of the under mentioned
Companies are conformed:
1 Kamani Engineering Corporation Ltd. Notice No. 2245/73 dated 20.12.73
2 Graphite India Ltd. Notice No. 2284/72 dated 28.1.72
3 Supreme Industries Ltd. Notice No. 14/73 dated 2.1.73
4 Andra Pradesh Papers Mills Ltd. Notice No. 5/73 dated 2.1.73
5 Tube Suppliers Ltd. Notice No. 197/73 dated 10.2.73
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3. Resolved that the under mentioned Notices are confirmed
(1.) Regarding settlement of shares which are settled by red-black focus 6A and
7A Notice no. 2249/72 dated 20.12.72, No. 200/73 dated 3.1.73 No. 93/73
dated 17.1.73 No. 153/73 dated 30.1.73 and No. 222/73 dated 13.2.73
(2.) Notice No. 69/73 dated 11.1.73 regarding transactions in the shares of
Vardhaman Spg. and General Mills Ltd.
(3.) Notice No. 92/73 dated 12.1.73 regarding stopping of business in the
shares of Shree Bhavani Cotton Mills Ltd.
(4.) Regarding special settlement of hand delivery transaction Notice no.
132/73 dated 24.1.73 No. 149/73 dated 29.1.73, No. 176/73 dated 5.2.73,
No. 225/73 dated dated 15.2.73 and No. 248/73 dated 19.2.73
(5.) Notice no. 210/73 dated 10.2.73 regarding change in the buyers Tickets
programme.
4. The application of the under mentioned institutions for giving them help were
considered and it was resolved to give help to each of them from Associations
funds as mentioned below against their respective names:
The Bombay Dumb and Deaf Institution Rs.101/-
The Poona School and Home for the blind Rs.101/-
Society for rehabilitation of the Crippled Children Rs.251/-
Shri Punsari Kelavani Mandal Rs.1001/-
Falode Dharmada Seva Samiti Goshala Rs.501/-
5. The application of the undermentioned institutions were considered and it was
resolved that no assistance can be given to them;
(1.) Mayor’s Fund Committee
(2.) Sabarkantha Education Society
(3.) Shree Kuchchhi oswal Jath
Sujapur Mahajan, Mumbai
6. The application for loans of our sepoys Shantaram Narayan and Tukaram Bhikaji
were considered and it was resolved to give each of them a loan of Rs.1,000/-
7. The application dated 25.1.73 of Shri S. M. Davda of our office of giving him an
assistance of the B.com examination fee of Rs.63/- was considered and it was
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resolved to give him assistance of Rs.63/- from Seth KRP Shroff Stock Exchange
Sarvajanik Fund.
8. The application dated 2.1.73 of Bai Kamalabai, wife of our late watchman Bhatt
Chhogalal Pareshwar was considered and it was resolved to pay her Rs.5733/25
being the same of the late Shri Chhogalal Pareshwar’s Provident Fund amount
and Gratuity.
9. The applications of Shri V. K. Maloo, mother of the late Shri V. S. Sakaram of our
office to pay her the money due by us to the late Shri V. S. Sakaram and also to
give her help were considered and it was resolved to pay her Rs. 2360/- being
the same of the Provident Fund amount due to the late Shri V. S. Sakaram and
the Gratuity to be paid to him by us and also to give her help of Rs.1000/- from
Seth KRP Shroff Stock Exchange Sarvajanik Fund.
10. Resolved that as Wednesday, 28.2.73 is the day for presenting the Budget of the
Central Government,on that day our market will remain open as usual from 12.00
to 2.00 and in the evening for one hour after the Budget proposals have been
presented.
11. Resolved that Thursday, 22.3.73 should be fixed as the day for election of the
Governing Board for the year 1973-74.
12. The letter dated 18.1.73 of Shri Sohanlal Badriprasad, about authorizing his wife
Smt. Rupandevi Sohanlal Mishra to dispose of his member rights after his demise
instead of his son Shri Umashankar Sohanlal was considered and it was resolved
to tell him to make a will to that effect.
13. The letter dated 14.12.72 of the Bombay Shareholders Association for directing
the Companies to issued refund orders of share application moneys of less then
Rs.1000/-, by “crossed order” cheques instead of “payers A/c” cheques were
considered and it was resolved that it does not appear to be advisable to interfere
in the matter.
14. The application of the near relatives of the late Shri Homi Cursetji Palia
nominating Shri Nitinkumar Manilal Shah as a member of the Exchange in the
place of the late Shri Homi Cursetji Palia was considered and after interviewing
Shri Nitinkumar Manilal Shah and his recommenders S/Shir Champaklal
Jamnadas and V. D. Vakil it was resolved by 14 votes in favour and none against
to elect Shri Nitinkumar Manilal Shah as a member of the Exchange in the place
of the late Shri Homi Cursetji Palia, subject to the Rules and Bye-laws of the
Exchange.
15. The application dated 1.1.73 of the near relatives of the late Shri Hemchand
Amerchand nominating Shri Nemchand Hemchand as a member of the Exchange
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in the place of the late Shri Hemchand Amerchand was considered and after
interviewing Shri Nemchand Hemchand and his recommender Shri Mohanlal
Sakarchand and it was resolved by 14 votes in favour and none against to elect
Shri Nemchand Hemchand as a member of the Exchange in the place of the late
Shri Hemchand Amerchand, subject to the Rules and Regulations of the
Exchange.
Shri Jasvantlal Chhotalal came and joined the meeting at this point of time.
16. The application dated 28.12.72 of the near relatives of the late Shri Laxmidas
Liladhar Shah nominating Shri Harkishan Laxmidas Shah as a member of the
Exchange in the place of the late Shri Laxmidas Liladhar Shah was considered and
after interviewing Shri Harkishan Liladhar and his recommenders S/Shri Harjivan
Desabhai and R. R. Shah it was resolved by 15 votes in favour and non against to
elect Shri Harkishan Laxmidas Shah as a member of the Exchange, subject to the
Rules and Regulations of the Exchange.
17. The application dated 7.12.72 of Shri Kasturchand Sarupchand nominating Shri
Vidyutkumar Devendrakumar as a member of the Exchange was considered and
after interviewing S/Shi Vidyut Devendrakumar and his recommenders S/Shri
Champak Jamnadas and Kantilal Chhaganlal it was resolved by 14 votes in favour
and one against to elect Shri Vidyut Devendrakumar as a member of the
Exchange, subject to the Rules and Regulations of the Exchange on condition that
he should give an additional membership security deposit of Rs.1,00,000/- for a
period of two years.
18. The additional Report dated 8.1.73 and the Report dated 2.2.73 of Sir Shapurji
Broacha Brokers helping Fund were read and it was resolved to approve the
same.
19. The letter dated 15.2.73 of Padamji Pulp and Paper Mills Ltd. was read and it was
resolved that as the equity shares of the company have been sub-divided into
shares of Rs.10/- each dealing in those shares should now be done in lots of 50
shares each.
20. The letter dated 17.12.72 of Prestolite of India Ltd. for re-admissions of its shares
to our list of securities traded on the Exchange was considered and it was
resolved that, if the company pays the Initial Listing Fee of Rs.1000/- and the
Annual Listing fee of Rs.600/- for the per year 1973, the shares of the company
should be re-admitted to our list of securities traded on the Exchange.
21. The listing applications of the under mentioned companies were considered and it
was unanimously resolved to confirm the approval given for inclusion of their
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securities mentioned against their respective names in the list of securities traded
on the Exchange.
The Motor and General Finance Ltd. Bonus Equity
The Motor and General Finance Ltd. 10% second preference shares
The New India Industries Ltd. Bonus Equity
Allbright Morarji and Pandit Ltd. Bonus Equity
Silvania and Laxman Ltd. New Equity
Voltas Ltd. New Equity
Unichem Laboratories Ltd. Bonus Equity
Indian Aluminum Co. Ltd. Bonus Equity
The Century Spg. and Mfg. Co. Ltd. Bonus Equity
22. The listing application of the under mentioned companies were considered and it
was unanimously resolved that, subject to the Listing Rules and Regulations as
well as compliance with the usual requirements and other special requirements
stipulated by us, their securities mentioned against their names should be placed
in our list of non-cleared securities traded on the Exchange and their trading
should be done in the trading lots specified against them.
Rainbow Steels Ltd. Equity – 50 shares
Rainbow Steel Ltd. Preference – 5 Shares
Hindusthan Breweies and Bottling Ltd. Equity – 50 Shares
Globe Steering Ltd. Equity – 50 Shares
Lakhanpal National Ltd. Equity – 50 Shares
S. I. F. Steels Ltd. Equity – 50 Shares
Excel Glasses Ltd. Equity – 50 Shares
Rathi Alloys Ltd. Equity – 50 Shares
G. K. Hotels Ltd. Equity – 50 Shares
G. K. Hotels Ltd. Preference – 5 Shares
Shivmani Steel Tubes Ltd. Equity – 50 Shares
Shivmani Steel Tubes Ltd. Preference -50 Shares
Bhelai Wires Ltd. Equity – 50 Shares
Western Mine Steel Ltd. Equity – 50 Shares
Regal papers Ltd. Equity – 50 Shares
Regal Papers Ltd. Preference – 5 Shares
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Haryana Coated Papers Ltd. Equity – 50 Shares
Haryana Coated Papers Ltd. Preference – 5 Shares
East – West Hotels Ltd. Equity – 50 Shares
East – West Hotels Ltd. Preference – 5 Shares
The Oudh Sugar Mills Ltd. 9.5 % Redeemable preference Shares – 5 Shares
23. The letter dated 30.1.73 of Industrial Finance Corporation of India was considered
and it was resolved that from the year 1973, Government Companies established
by special statute should be charge only half of the Annual scheduled fees.
24. Resolved that in supersession of the amendments to the Rules 98 and 154(b)
submitted to the Central Government for approval the following amendment be
and are hereby made subject to the approval of the Central Government in the
Rules contained in the Stock Exchange Rule, Bye-laws and Regulations 1957,
At the end of the Rule 98, the following proviso is added, namely:
“Provided that when the Central Government so desires the Governing Board
shall appoint a whole-time Executive Director and the appointment of such
Executive Director, the terms of his appointment and his removal or dismissal
from office shall be subject to the previous approval of the central Government.
The persons appointed as Executive Director shall not engage himself in any
business directly or indirectly during his tenure of office and if he is a member of
the Exchange at the time of appointment he shall rising his membership
forthwith. The Executive Director shall be an ex-office member of the Governing
Board and of any committee appointed by the Governing Board of the Exchange.
Subject to the over-all management of the affairs of the Stock Exchange being
vested in the Governing board as provided in these Rules, Bye-laws and
Regulations the Executive Director shall be vested with the executive power of
the Exchange to run the day-to-day administration and to enforce the Rules, Bye-
laws and Regulations of the Exchange and to represent the Exchange in any
public matter and to exercise all other power, rights, duties and functions as are
vested in the Chairman under the Rules, Bye-laws and Regulations of the
Exchange and as may be entrusted or delegates to him by the Governing Board
from time to time.”
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For the Rule 154(b) the following shall substituted, namely
“Absence or Inability to Act
(b) In the absence of the Chairman/Executive Director or in the event of his
inability to act his functions and power shall be exercised by the senior
available officer of the Exchange under the directions of the Governing
Board.”
Sd/- Sd/-
A. J. Shah Laldas Jamnadas
Secretary President
13.03.73
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Tuesday, 13-3-1973
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00
p.m. under the Chairmanship of Seth Laldas Jamnadas, wherein the under
mentioned members of the Board were present:
Seth Laldas Jamnadas Seth J.R. Motishaw
Seth Phiroze Jeejeebhoy Seth Vasantlal K. Shah
Seth Rasiklal Maneklal Seth B.M. Gandhi
Seth Jayant Amerchand Seth Mathradas Samaldas
Seth Hiralal Girdharlal Seth Navinchandra Chhaganlal Kampani
Seth Gordhandas Bhagwandas Seth Vasantlal Champaklal
Seth Vasantlal Jivatlal Seth Biseswarlal N. Khandelwal
Seth Ashok Girdharlal Fozdar
Government Nominee
Shri S. Rajagopalan
The following business was transacted in the meeting: 1 At the start of the meeting, the President mentioned that as Seth Gordhandas
Bhagwandas did not stand for election to the Board this time because of
reasons of age and health, it will be a great loss to the Board. He thanked
Seth Gordhandas Bhagwandas for the valuable services rendered to the
Exchange and for the support and co-operation given by him to the Board
continuously for a period of 27 years as a member of the Governing Board.
He also expressed hope that he will continue to give in future the benefit of
his long experience and valuable advice and guidance.
2 Resolved that the notices mentioned against the names of the
undermentioned companies regarding cum right and ex-right transactions of
their shares should be confirmed:
1. Bajaj Auto Ltd. Notice No:311/73 dated 27-2-73
2. Bajaj Tempo Ltd. Notice No:335/73 dated 27-2-73
3. The Bombay Burmah
Trading Corporation Ltd. Notice No:355/73 dated 2-3-73.
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3 Resolved that the undermentioned notices should be confirmed:
1. The Notice No:294/73 dated 24-2-73 for not doing business in the shares
of Bharat Live Ltd.
2. The Notice No: 305/73 for resuming business in the shares of Shri Bhavani
Cotton Mills Ltd.
3. The Notice No: 385/73 dated 8-3-73 giving permission for doing business
in Letters of Renunciation of the new equity shares of the Zandu
Pharmaceuticals Works Ltd.
4 The application dated 12-3-73 of S/Shri Rasiklal Sarabhai Jhaveri, Arunbhai
Sarabhai, Sarabhai Jhaveri and Pradip Rasiklal Jhaveri was considered and it
was resolved to approve their partnership under the firm name of M/s S.D.
Jhaveri with effect from 1-4-73.
5. The applications for loans of the undermentioned persons of our office shatff
were considered and it was resolved to give them loans of the amounts
mentioned against their respective names:
Shanker Ratnogi Rs.2000/-
Jayram Bhikaji Rs.700/-
Sahadev Ganpat Rs.1000/-
6 The application dated 9-2-73 of Shri Phiroz Dorab Bilimoria nominating Shri
Bhupendra Champaklal Dalal as a member of the Exchange in his own place
was considered and after interviewing Shri Bhupendra Champaklal Dalal and
his recommenders S/Shri S.B. Sirali and Navalchand T. Shah it was resolved
by 14 votes in favour and none against to elect Shri Bhupendra Champaklal
Dalal as a member of the Exchange in the place of Shri Phiroz Dorab
Bilimoria, subject to the Rules and Regulations of the Exchange.
7 The letters dated 16-10-72 and 5-3-73 of Shri Bhagwat Gupta regarding
withdrawal of his application for membership of the Exchange was considered
and it was resolved to give him permission to withdraw his aforesaid
application.
8 The listing applications of the undermentioned companies were considered
and it was unanimously resolved to approve admission of their securities
traded on the Exchange.
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The Motor and General Finance Ltd. Redeemable Second Pref.
shares
Mukand Iron and Steel Works Ltd. Bonus Equity
Bayer India Ltd. Bonus Equity
The New Sharrock Spg. & Mfg. Co.Ltd. .. 4020 new equity shares
allotted to the shareholders
of M.G. Investment and
Industrial Co. Ltd.
9 The letter dated 14-2-73 of M.G. Investment and Industrial Co. Ltd., was read
and it was unanimously resolved that as it has been merged with the New
Sharock Spinning and Weaving Co. Ltd., its shares should be removed from
our list of securities traded on the Exchange.
10 The letter dated 6-1-73 of Indo American Electricals Limited was read and it
was resolved that as its 9.3% Redeemable Cumulative Preference shares are
to be redeemed on 31-3-73 those shares should be removed from out list of
securities traded on the Exchange with effect from that date.
11 Resolved that a sum of Rs.25000/- should be given to the Stock Exchange
Foundation from the Stock Exchange Education and Research Services Fund.
12 Resolved that contributions of Rs. 3000/- from the Relief Fund and Rs. 2000/-
from Dharmada Fund should be made to the Chief Ministers Fund.
sd/- sd/- A.J Shah Laldas Jamnadas Secretary President
Date: 5-5-73
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Saturday, 5-5-73
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 2.30 p.m.
in the beginning under the Chairmanship of Seth Laldas Jamnadas and thereafter under the
Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the
Board were present:
Seth Laldas Jamnadas Seth Vasantlal K. Shah
Seth Phiroze Jeejeebhoy Seth Babubhai Maganlal Gandhi
Seth Jayant Amerchand Seth Mathradas Samaldas
Seth Rasiklal Maneklal Seth Navinchandra Chhaganlal Kampani
Seth Jaswantlal Chhotalal Seth Vasantlal Champaklal
Seth Hiralal Girdharlal Seth Biseswarlal N. Khandelwal
Seth Gordhandas Bhagwandas Seth Ashokkumar G. Fozdar
Seth Vasantlal Jivatlal Seth Chhotalal Devchand
Seth J.R. Motishaw
Government Nominee
Shri S. Rajagopalan
Shri M.R. Mayya, Dy.Director Stock Exchange Division was present by invitation.
The following business was transacted in the meeting:
1 Proposed by Seth Rasiklal Maneklal and seconded by Seth Vasantlal Champaklal,
Seth Laldas Jamnadas was elected as a President of to-day’s meeting.
Seth Laldas Jamadas mentioned that in the place of Shri M.N. Deshmukh, Dy.
Director, Stock Exchange Division at Bombay, Shri M.R. Mayya has been appointed.
He welcomed Shri M.R. Mayya and expressed hope that full support and co-operation
will continue to be available from Shri M.R. Mayya too as from his preceding Deputy
Director. He congratulated and welcomed Shri Chhotalal Devchand on behalf of all
the members of the Board for being elected as a member of the Board.
2 Proposed by Seth Laldas Jamnadas and supported by Seth J.R. Motishaw
unanimously resolved to elect Shri Jayant Amerchand as the President.
Seth Laldas Jamnadas while handling over the Chairmanship to Seth Jayant
Amerchand congratulated Shri Jayant Amerchand and wished him success on behalf
of all the members of the Board.
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Seth Jayant Amerchand thanked all the members of the Board for the trust reposed
in him and took over as Chairman of the meeting. He made mention of the valuable
services rendered by Seth Laldas Jamnadas during his Presidentship and lately for
the efforts made by him inspite of his weak health. He expressed that he will
continue to receive the necessary support and co-operation from everybody
discharging his duties to the Association.
3 Proposed by Shri Rasiklal Maneklal and supported by Shri J.R. Motishaw it was
unanimously resolved to elect Shri Mathradas Samaldas as the Vice-President.
4 Proposed by Seth Jayant Amerchand and supported by Seth Rasiklal Maneklal
unanimously resolved to elect Seth Vasantlal Champaklal as the Hon. Treasurer.
5 Resolved to appoint the “Sir Shapurji Broacha Brokers’ Helping Fund Committee”
consisting of S/Shri J.R. Motishaw, Mathradas Samaldas, Vasantlal Champaklal and
Dhirajlal Maganlal.
6 Resolved that the undermentioned members be appointed as members of the
Arbitration Committee for the year 1973-74:
1 Seth Kekin N. Chenoy 9 Seth Jayendra D. Mehta
2 Seth Jayantilal M. Dalal 10 Seth H.N. Sonawala
3 Seth Champaklal Babubhai Marfatia 11 Seth D.V. Shual
4 Seth M.L. Kaji 12 Seth Hariram Dwarkadas
5 Seth L.N. Kapadia 13 Seth Bhagubhai Amthalal Gandhi
6 Seth S.M. Shah 14 Seth Rasiklal S. Jhaveri
7 Seth Nagindas Trambaklal Parekh 15 Seth Govindbhai G. Desai
8 Seth V.K. Nanavati 16 Seth Jitendra Champaklal Mashruwala
7 Resolved to appoint the Defaulters’ Committee for the year 1973-74 consisting of the
undermentioned members:
1 Seth J.R. Motishaw 4 Seth Kekin N. Chinoy
2 Seth Vasantlal Champaklal 5 Seth Jayayantilal Mansukhlal Dalal
3 Seth Vasantlal Kantilal Shah 6 Seth Rasiklal S. Jhaveri
8 Resolved to appoint a Building Committee consisting of Seth Mathradas Samaldas,
Seth J.R. Motishaw, Seth Rasiklal Maneklal, Seth Laldas Jamnadas, Seth Vasantlal
Kantilal Shah, Seth Jasvantlal Chhotalal and Seth Gordhandas Bhagwandas.
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9 Resolved that cheques be signed by the President,Shri Jayant Amerchand, or the
Chairman, Shri. P. J. Jeejeebhoy, or the Vice President, Shri Mathradas Samaldas, or
the Hon. Treasurer, Shri Vasantlal Champaklal and by any one of the following seven
members of the Governing Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra
C. Kampani, Shri Shri Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasantlal Kantilal
Shah, Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned by the
Shri A. J. Shah.
10 Resolved that the various Current Accounts and Safe Custody Accounts of the
Exchange with Bank of India be operated on jointly by the President, Shri Jayant
Amerchand or the Chairmen Shri P. J. Jeejeebhoy, or the Vice President, Shri
Mathradas Samaldas, or the Hon. Treasurer, Shri Vasantlal Chhotalal and by any one
of the following seven members of the Governing Board, namely, Shri Rasiklal
Maneklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri B. M. Gandhi,
Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be
countersigned by the Secretary, Shri A. J. Shah.
11 Resolved that the Current Accounts and Safe Custody Accounts with Bank of India in
the name of the Stock Exchange Staff Provident Fund and the Stock Exchange Staff
Gratuity Fund be operated on either by any two of the Trustees of the Exchange for
the time being or the survivors or survivor of them or jointly by the Hon. Treasurer,
Shri Vasantlal Chanpaklal and by any one of the following seven members of the
Governing Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani, Shri
Hiralal Girdharlal, Shri B. M. Gandhi, Shri Vasant Kantilal Shah, Shri Jasvant Chhotalal
and Shri A. R. Mahadevia and be countersigned by the Secretary, Shri A. J. Shah.
12 Resolved that the Chairmen Shri P. J. Jeejeebhoy, the Secretary Shri A. J. Shah and
the follwing Officers of the Exchange namely, Shri S. N. Karaka, Shri M. D. Vyas and
Shri Nariman N. Dubash be and they are hereby authorized jointly and/ or severally to
institute and prosecute any legal proceeding in any Court of Law having Jurisdiction
relating and/ or pertaining to any of the properties belonging to The Stock Exchange,
Bombay ( hereinafter refered to as ‘ the Exchange’) and/ or any activities of the
Exchange in any manner whatsoever against any person or persons of group of
persons and / or and Union and/ or Association and /or its office-bearers and/ or
representative and / or employee and / or servant and/ or agents (hereinafter referred
to as “the said third party”) inter alia to prevent.
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(a.) Any trespass in or upon any of the properties belonging to the Exchange
by the said third party for nay purpose whatsoever;
(b.) Any crowding collecting and / or assembling in any meeting at or within or
around any of the properties belonging to the Exchange;
(c.) Any demonstration, picketing, nuisance, harassment, threats,
intimidation, violence and/or injury by the said third party at or within or
around any of the properties belonging to the Exchange;
(d.) Any shouting of slogans and/or abuses adversely affecting the business
and reputation of the Exchange and / or of any office bearers, officers,
employees, or members of the Exchange;
(e.) Any display or putting up of nay boards, notices, placards, pamphlets,
photographs, banners, writing and or any articles at or within or around
any of the properties of the Exchange; and /or
(f.) Any obstruction, interference and / or hindrance to the working of the
Exchange and the business of its members in any manner whatsoever;
and for the said purposes to engage Solicitors, Lawyers, Counsel and / or legal
practitioners and to sign warrants of authority and / or Vakalatnama in favour of any
such Solicitors, Lawyers, Counsel or legal practitioners and also to sign, affirm and / or
declare any plaint, affidavit, application, writing, statement, complaint and / or appeal
for and on behalf of the Exchange and to compromise, settle and / or refer to
arbitration and such dispute and / or legal proceedings in the manner deemed fit and
proper jointly and / or severally by the said Shri. P. J. Jeejeebhoy, Shri A. J. Shah, Shri
S. N. Karaka, Shri M. D. Vyas and Shri Nariman N. Dubash.
13 Resolved to confirm the notices regarding cum right and ex-right transactions of the
shares of the undermentioned companies:
i. The East India Hotels Ltd. … Notice No:415/73 dated 14-3-73.
ii. Associated Stone Industries (Kota) Ltd. … Notice No:499/73 dated 17-3-73
iii. The West Coast Paper Mills Ltd. … Notice No:688/73 dated 23-4-73
iv. Motor Industries Co.Ltd. … Notice No: 773/73 dated 4-5-73.
14 Resolved that the undermentioned Notices be confirmed:
1 Notice No:436/73 dated 20-3-73 relating to grant of permission to do
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business in the coupons of bonus shares of Bajaj Auto Ltd.
2 Notice No:675/73 dated 23-4-73 regarding transactions in Re. 1/- paid
up shares of Bharat Live Ltd.
3 Notice No:753/73 dated 2-5-73 relating to grant of permission for doing
business in the Letters of Renunciation of the new equity shares of the
East India Hotels Ltd.
4 Notice No:758/73 dated 2-5-73 regarding continuation of cum dividend
transactions in the shares of Premier Construction Co. Ltd.
5 Notice No:490/73 dated 26-3-73 regarding eligibility of new equity
shares of the Bombay Electric Supply Co.Ltd., against its old equity
shares.
6 Notice No:552/73 dated 2-4-73 regarding eligibility of new equity shares
of Swadeshi Polytex Ltd., against its old equity shares.
15 Governments letter dated 25-4-73 about withdrawal of the nomination of Shri M.N.
Deshmukh, former Dy.Director of the Stock Exchange Division on the Governind
Board of the Exchange as he has been transferred was read and noted.
16 Resolved that recommendation should be made to the General Body to appoint Shri
Jayant Amerchand as a Trustee of the Exchange in the vacancy caused by the
demise of Seth K.R.P. Shroff.
17 The letter dated 11-4-73 of S/Shri Nandkishore Ramchandra Agarwal and Brijmohan
Agarwal were read and it was resolved to confirm the permission given to Shri
Brijmohan Sagarmal to do business as a Representative Member of Shri Nandkishore
Ramchandra Agarwal.
18 The letter dated 5-4-1973 of S/Shri Kaikhushru Merwanji Kheshwala, Manek
Hormasji Byramji ad Vinayak Bhikaji Desai was read and it was noted that Shri
Vinayak Bhikaji had separated from the partnership firm of M/s Lewis & Jones with
effect from 1-4-73.
19 The applications for the undermentioned partnerships were considered and
approved:
6
Name of the Partnership firm Name of Partners
Date of Partnership
M/s Kothari & Co. Shri Laxmidas Thakersey Kothari
Shri Kaushik Laxmidas Kothari
13-4-73
M/s Champaklal Jamnadas &
Co.
Shri Champaklal Jamnadas Shah
Shri Subodh Champaklal Shah
Shri Ashok Champaklal Shahh
5-5-73
20 The Board approved the arrangements made by Gerzi Eastern Ltd., with M/s Hadkar,
Prabhu and Associates for the structural work of our new building and also in
connection with the acceptance of the tender of Shapurji Palonji & Co., for
construction of the basement out of the tender received from Engineering
Construction Corporation Ltd., New Consolidated Construction Co. Ltd., and Shapurji
Palonji and Co. Pvt. Ltd., which were compared and evaluated by Gerzi Eastern Ltd.,
respectively at approximately Rs. 33,37,844/-, Rs. 28,21,159/- and Rs.32,48,592/-.
21 In the matter of appeal of M/s R.R. Nabar & Co., against the decision of the Full
Bench of the Arbitration Committee in the dispute between M/s Jadowji Virji Desai
and M/s R.R. Nabar & Co., regarding the 5 United Carbon shares, the letter dated
22-2-73 of M/s Jadowji Virji Desai about the dispute having been settled and the
letter dated 26-2-73 of M/s R.R. Nabar & Co., withdrawing their appeal were read
and noted.
22 The applications for loans of the undermentioned members of our office staff were
considered and it was resolved to give them loans as under:
Shri G.N. Kamdar Rs.1700/-
Sepoy Pandurang Gopal Rs.1000/-
Sepoy Madhukar Bhiwa Rs. 300/-
Liftman Tukaram Laxman Rs. 500/-
Waterman Mithalal Bhuralal Rs.1500/-
Sweeper Bhagwan Tilu Rs. 500/-
Sweeper Hariharan Nibaram Rs. 200/-
23 The listing applications of the undermentioned companies were considered and it was
unanimously resolved to confirm their belowmentioned securities having been placed
in our list of securities traded on the Exchange:
7
Maharashtra Sugar Mills Ltd. Bonus Equity
Caira Can Co. Ltd. Bonus Equity
Shri Bhawani Cotton Mills Ltd Bonus Equity
24 The listing applications of the undermentioned companies were considered and it was
unanimously resolved that subject to the Listing Rules and Regulations and
compliance with the usual requirements as well as other special requirements
stipulated by us, their below mentioned securities should be placed in our list of
securities traded on the Exchange and their trading lots should be fixed as shown
against them:
Ashok Paper Mills Ltd. Equity 200 shares
Ashok Paper Mills Ltd. Preference 5 shares
Usha Alloys and Steel Ltd. Equity 50 shares
Usha Alloys and Steel Ltd. Preference 5 shares
Saurashtra Steel and Alloys Ltd. Equity 50 shares
Mohta Alloys and Steel Ltd. Equity 50 shares
Mohta Alloys and Steel Ltd. Preference 5 shares
Piramal Steel Ltd. Equity 50 shares
Piramal Steel Ltd. Preference 5 shares
Haryana Electro Steel Ltd. Equity 50 shares
Indolowen Breweries Ltd Equity 50 shares
Industrial Credit and Investment
Corporation of India Ltd.
6% Debentures 1985 Rs.
5000/-.
Silvania and Laxman Ltd. New Equity 50 shares
Silvania and Laxman Ltd. 9.5% Redeemable Preference
Shares.
Preference 5 shares
The Phalton Sugar Works Ltd. 6 ½ % Redeemable preference
shares.-5 shares.
sd/- sd/-
A.J Shah Jayant Amerchand
Secretary President
Date: 24-7-73
1
Tuesday, 24-7-1973
A meeting of the Governing Board of the Stock Exchange was held today at ST.
3.00 pm. Under the Chairmanship of the Seth Jayant Amerchand, wherein
undermentioned members of the Board ware present:
Seth Jayant Amerchand Seth Seth Vasantlal Jivatlal
Seth Phiroze J. Jeejeebhoy Seth J. R. Motishaw
Seth Mathradas Samaldas Seth A. R. Mahadevia
Seth Laldas Jamnadas Seth B. M. Gandhi
Seth Rasiklal Menklal Seth Vasantlal Champaklal
Seth Jasvantlal Chhotalal Seth B. N. Khandelawal
Seth Hiralal Girdharlal Seth Ashokkumar G. Fozdar
Seth Chhotalal Devchand
Government nominees
Shri S. Rajgopalan
Shri M. R. Mayya, Dy Director, Stock Exchange Division was present by
invitation.
The following business was transacted in the meeting:
1. Resolved that the notices mentioned below against the names of the related
companies regarding cum-right and ex-right transactions in their shares are
confirmed:
1 The Indian Cement Co. (1937) Ltd.
Notice No. 820/73 Dt. 10-5-73
2 Larsen & Toubro Ltd. Notice No. 845/73 dt. 14-5-73
3 Polysteel (India) Ltd. Notice No. 846/73 Dt. 14-5-73
4 Tensile Steel Ltd. Notice no. 860/73 Dt. 15-5-73
5 United Carbon Ltd. Notice No. 950/73 Dt. 25-5-73
6 The Morarji Gokuldas Spg.and Wvg. Co. Ltd.
Notice no. 1000/73 Dt. 5-6-73
7 The Khatau Makanji Spg. And Wng. Co. Ltd.
Notice No. 1053/73 Dt. 5-6-73
8 Shakti Sugars Ltd. Notice No. 1081/73 Dt. 9-6-73
2
9 The Hindushtan Sugars Mill Ltd. Notice No. 1081/73 Dt. 9-6-73
10 Special Steel Ltd. Notice No. 1093/73 Dt. 13-6-73
11 Polychem Ltd. Notice No. 1108/73 Dt. 15-6-73
12 The Scindia Steam Navigation Co. Ltd.
Notice No. 1121/73 Dt. 19-6-73
13 Ceat Tyres India Ltd. Notice No. 1173/73 Dt. 26-6-73
14 Modi Industries Ltd. Notice no. 1186/73 Dt. 28-6-73
15 West Coust Paper Mills Ltd. Notice No. 1200/73 Dt. 29-6-73
16 Andhra Steel Corporation Ltd. Notice no. 1350/73 Dt. 18-7-73
17 Motor Industries Co. Ltd. Notice no. 1351/73 Dt. 20-7-73
2. Resolved that the notices mentioned below against the names of the
respective companies regarding eligibility of their new shares for delivery
against their old shares are conformed
1 Behar Alloy Steel Ltd. Notice no. 989/73 Dt. 25-5-73
2 The Travancore Electric Chemical Industries ltd.
Notice no. 1029/73 Dt. 1-6-73
3 The Gaikwar Mills Ltd. Notice No. 1030/73 Dt. 1-6-73
4 The Dinesh Mills Ltd Notice No. 1031/73 Dt. 1-6-73
5 The Anti Friction Bearings Corporation Ltd.
Notice No. 1050/73 Dt. 5-6-73
6 Graphik Industries Ltd. Notice No. 1183/73 Dt. 28-6-73
7 Andhra Steel Corporation Ltd. Notice No. 1214/73 Dt. 2-7-73
8 Motors Industries Co. Ltd. Notice No. 1342/73 Dt. 18-7-73
3. Resolved to confirm the under mentioned Notices
(1.) Notice No. 882/73 dated 18-5-73 regarding transactions in the shares
of Indian Copper Corporation Ltd.
(2.) Notice No. 997/73 regarding permission to do business in the Letters
of Renunciation of new equity shares of Tata Chemicals Ltd.
(3.) Notice No. 1118/73 dated 16-7-73 about disallowing transactions in
the shares of Modi Industries Ltd. and Notice No. 1313/73 dated 16-7-
73 allowing resumption of dealings in those Shares
(4.) Notice No. 1122/73 allowing the dealings in the Letters of
Renunciation of the new equity shares of Indian Cement Co. (1937)
Ltd.
3
(5.) Notice No. 1138/73 permitting dealings in the company of bonus
Equity Shares of Tensile Steel Ltd.
(6.) Notice No. 1178/73 allowing resumption of dealing in the shares of
Asiatic Oxygen Ltd.
(7.) Notice no. 1248/73 dated 5-7-73 allowing permission to dealing in the
bonus Equity Shares of Morarji Gokuldas Spg. Wvg. Co. Ltd.
4. The application for help of the under mentioned organizations were
considered and it was resolved to give donation to them as under
mentioned against their names from the Association Fund;
Mumbai Upnagar Gramodyay Sangh Rs.100/-
Indian Red-Cross Society Rs.101/-
The Mancherji Navroji Banaji Industrial Home for the Blind Rs.100/-
5. The Application dated 17-7-73 Of Shri M. D. Vyas of our officer giving him
assistance of Rs.224/- for the College fees of the 3rd year of LLB and Rs,.
78/- for the examination fee as well as the application dated 17-7-73 of Shri
S. M. Davde for the college fee of the first term of first LLB were considered
and it was resolved to give them assistance accordingly from Shri M. C.
Mehta Smarak Fund.
6. The applications for loan of the undermentioned members of our office staff
were considered and it was resolved to give each of them a loan as
mentioned against their respective names
Shri M. D. Vyas Rs. 2500/-
Shri Nariman N. Dubash Rs. 700/-
Shri V. K. Suvarna Rs. 2000/-
Shri Laxman Tukaram Rs. 1000/-
Shri Dattaram Govind Rs. 1000/-
Shri Narendra Bhikaji Rs. 300/-
Shri Balkishan Shinde Rs.500/-
Hamal Dhondu Shripat Rs.500/-
Sweeper Khachera Devran Rs.1000/-
4
7. The application dated 25-6-73 of our former employee Shri V. Mohan was
read and it was resolved to pay up to him the amount accumulated in his
Provident Fund Account
8. The application dated 17-7-73 of Shri M. D. Vyas son of our late pensioner
Shri Devdas K. Vyas for getting assistance for the expenses incurred for the
medical treatment of the deceased during his sickness was considered and it
was resolved to give him assistance of Rs.500/- in that respect from Seth
KRP Shroff Stock Exchange Sarvajanik Fund.
9. The letter received from the undermentioned members were read and it was
resolved to confirmed the permissions given to them to do business as
Representative Members as shown below:
Nominating Members Representative Members
Shri Hasmikh Nanlal Jhaveri Shri Dhirajlal Kalyanji Vora
M/s. Sumatilal Jamnalal Shri Virendra Prabhudas
10. The letter dated 4-5-73 of S/Shri J. P. Gandhi and Bupendra Champaklal
Dalal were read and it was resolved and confirmed the permission given to
Shri J. P. Gandhi to do business in the market in the name of the firm of
M/s. Champaklal Devidas
11. The letter dated 2-6-73 S/Shri Jayendra Dhansukhlal Mehta and Harendra
Dhansukhlal Mehta was read and it was noted that partnership between the
two had been dissolved from 30-4-73 and from that date Shri Jayendra
Dhansukhlal Mehta had been doing business as the sole proprietor of the
firm of M/s. Mehta Vakil & Co.
12. The letter dated 25-6-73 of S/Shri Dhirajlal Kalyanji Vora, Dhansukhlal
Kantilal, Manoharlal Bhikhubhai Kothari, Harkishandas Kalyanji Vora and
Gunvantlal Bhikhabhai Kothari was read and it was noted that S/Shri
Dhirajlal Kalyanji Vora and Harkisandas Kalyanji Vora had separated from
the partnership firm of M/s. Manmohandas Nemidas with effect from 26-6-
73.
13. The application for partnership of S/shri Vallabhdas Chimanlal Mehta and
Chandrakant Vallabhdas Mehta dated dated 1-4-73 was considered and it
was resolved to approve their partnership under the name of M/s. V. C.
Mehta with effect from 1-4-73
5
14. The letter dated 20-6-73 of Bai Naramadabai and S/shi P. M. Rungta and K.
M. Rungta was read and it was resolved to give permission to Shri
Purshottamlal M. Rungta to continues the business of the late Shri Mahavir
Prasad for a period of three months.
15. The letter dated 29-6-73 of Shri Kishandas Trikamdas Shroff nominating
Shri Radheshyam Chiranjilal Goenka as the member of the Exchange in his
own place was considered and after interviewing Shri Radheshyam
Chiranjilal Goenka and his recommenders S/Shri Dhirajlal Girdharilal and N.
C. Lodhiwala it was resolved by 14 votes in favour and none against to elect
Shri Radheshyam Chiranjilal Goenka as a member of the Exchange in the
place of Shri Kishandas Trikamdas Shroff, subject to the Rules and
Regulations of the Exchange, on condition that he should not do business in
the market in his own name until 7-9-73
16. The application dated 28-6-73 of Shri Jivandas Virji nominating Shri
Nalinkant Vrajlal Shah as a member of the Exchange in his own place was
considered and after interviewing Shri Nalinkant Vrajlal Shah and his
recommenders S/Shri Vrajlal Virji and Prabhudas Lialdhar it was resolved by
14 vote in favour and none againstto elect Shri Nalinkant Vrajlal Shah as a
member of the Exchange in the place of Shri Jivandas Virji, subject ot the
Rules and Regulations of the Exchange.
17. The letter dated 15-6-73 of the New Bank of India for becoming a member
of our Clearing House was considered and it was resolved that it should be
admitted as a member of New Clearing House, Subject to our Rules and
Regulations.
18. The Listing application of the undermentioned companies were considered
and it was unanimously resolved to confirm the approval given for placing
their respective Securities shown against their names in our list of securities
traded on the Exchange.:
Bajaj Auto Ltd. Bonus Equity
Greaves Cotton & Co. Ltd. Bonus Equity
Graphite India Ltd. New Equity
The Bombay Burma Trading Corporation Ltd. Bonus Equity
Supreme Industries Ltd. New Equity
Rajsthan Spg. & Wing. Mills Ltd. Bonus Equity
6
Associated Stine Industries Ltd. Bonus Equity
Tube Suppliers Ltd. New Equity
The Andhra Pradesh Paper Mills Ltd. New Equity
Tensile Steel Ltd. Bonus Equity
19. The listing application of the under mentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and the
other special requirements stipulated by us, their below mentioned
securities should be place in our list of Non-cleared Securities traded on the
Exchange and their trading lots should be fixed as shown below against
their respective names:
Omega locks and Typewriters Ltd. Equity – 50 Shares
Western India Glass Ltd. Equity – 50Shares
Suraj Alloys Steels Ltd. Equity – 50 Shares
Blow Plast Ltd. Equity – 50 Shares
Blow Plast Ltd. Preference – 5 Shares
Punjab Breweries Ltd. Equity – 50 Shares
Punjab Breweries Ltd. Preference – 5 Shares
Galada Continuons Casting Ltd. Equity – 50 Shares
Galada Continuons Casting Ltd. Preference – 5 Shares (of 1923)
Maharashtra Steel Ltd. Equity – 50 Shares
Maharashtra Steel Ltd Preference – 5 Shares
Triveni Steel & Works Ltd. Equity – 50 Shares
Superior Air Product Ltd. Equity – 50 Shares
Shree Ram Fiber Ltd. Equity – 50 Shares
Shree Ram Fiber Ltd. Pref. – 50 Shares
Vijay Wada Bottling Co Ltd. Equity – 50 Shares
Northern India Gas Co. Ltd. Equity – 50 Shares
Trimurti Agrechemicals Ltd. Equity – 50 Shares
Rathi Udyog Ltd. Equity – 50 Shares
Merch Mirek Ltd. Equity – 50 Shares
Merch Mirek Ltd. Preference – 5 Shares
7
Mina Steel Ltd. Equity – 50 Shares
Universal Wires Ltd. Equity – 50 Shares
Universal Wires Ltd. Preference – 5 Shares
C. Prabhudas & Co. Ltd. Equity – 50 Shares
Wilcart Steel Equity – Shares
Mohan Steel Ltd. Equity – 50 Shares
Vidarbha Iron and Steel Corporation Ltd.
Equity – 50 Shares
Industrial Finance Corporation of India 5¾ % Bonds 1985
Madhya Pradesh Electricity Board 6 % Bonds 1984 second series
The Triveni Engineering Works Ltd. 9.5% Preference 50 Shares
The Sirpur Paper Mills Ltd. 7¾ % Rs.1000/- first mortgage debentures
Straw Products Ltd. 9.5 % Pref. Shares – 5 Shares
Ashok Paper Mills Ltd. New Equity – 200 Shares
The Tata Mills Ltd 8 % Debentures Rs.1000/-
20. As regards the listing application of Harida Rotary Machines Ltd. it was
resolved that the time for approval of its application for placing is shares in
the list of securities traded on the Exchange should be extended up to seven
weeks from the date of closing of its subscription list and subject to the
conditions as may be decided by the Chairmen and decision in the matter
should be taken after the company gives its clarification required in our
letter of the 23-7-73
21. As Indian Copper Corporation Ltd. has gone into voluntary liquation, it was
resolved to review its units from our list of securities traded on the
Exchange.
22. As Gujarat Polyamides has merged with the Baroda Rayon Corporation Ltd.
it was unanimously resolved to remove the shares of Gujarat Polyamides
from our list of securities traded on the Exchange.
23. Unanimously Resolved that as the under mentioned securities have been
redeemed, they should be removed from our list of securities traded in the
Exchange.
Bombay Suburban Electric Supply Ltd. ‘B’ Class Convertible Debenture
The Amalgamated Electric City Co. Ltd. 10 % Preference Shares
8
Jayshree T. and Industries Ltd. ‘B’ Preference Shares
24. The letter dated 2-7-73 of the Indore Malwa United Mills Ltd. was
considered and it was unanimously resolved to write to it again in the
matter and if even then the company does not pay the Annual Listing fee for
the current year, the shares of the company should be removed from out
list of securities traded on the Exchange from such date as may be decided
by the Chairman.
25. The letter dated 1-2-73 and 15-6-73 of Orissa Cement Ltd. for, transferring
their shares from the Cleared Securities List to the Non–Cleared Securities
List were considered and it was unanimously resolved that we should write
to the company in the matter and if it is felt necessary the shares of the
company should be placed in the Non-Cleared Securities List from such date
as may be fixed and decided by the Chairman.
26. The letter dated 3-5-73 of Reveen & Co. was considered and it was resolved
to approve and pay them bills for 18,000 binders of the Stock Exchange
Directory at Rs.7/25 per binder and at Rs.2/75 for the 18,000 plastic
covers.
Further, it was resolved that their offer to supply binders with plastic covers
at Rs.11/50 per pieces hereafter should be accepted.
27. Unanimously resolved that as the undermentioned Companies have not yet
paid the Annual Listing Fee for year 1973 though repeatedly demanded,
their securities should be removed from our list of securities traded on the
Exchange if they do not pay the said fee before 25-8-73:
Ajanta Textiles Ltd.
Afsons Industrial Corporation Ltd.
Anil Hard boards Ltd.
Balkrishna Paper Mills Ltd.
Electrical Instruments Mfg. Co. Ltd.
Gujarat Investment Trust Ltd.
Hindustan Firodo Ltd.
Hindustan Wired Glass Mfg. Co. Ltd.
Indo-Swedish Pipe Manufacturers Ltd.
Jyoti Ltd.
Laxmiratan Engineering Works Ltd.
9
Laxmiratan Bhagaji Ltd.
Mohta and Heckel Ltd.
Raman and Denon Ltd.
Shanea Euguire Valves Ltd.
S. B. Joshi & Co. Ltd.
Thakar Shipping Co. Ltd.
Uttar Pradesh Steels Ltd.
Sd/- Sd/- A.J. Shah Jayent Amerchand Secretary President
Date: 4-9-73
1
Tuesday, 4-9-73
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00
p.m. under the Chairmanship of Seth Jayant Amerchand, wherein the
undermentioned members of the Board were present:
Seth Jayant Amerchand Seth J.R. Motishaw
Seth Phiroze Jeejeebhoy Seth A.R. Mahadevia
Seth Mathradas Samaldas Seth Vasantlal Kantilal
Seth Laldas Jamnadas Seth Babubhai Maganlal Gandhi
Seth Jaswantlal Chhotalal Seth Ashokkumar G. Fozdar
Seth Hiralal Girdharlal Seth Vasantlal Champaklal
Seth Vasantlal Jivatlal Seth B. N. Khandelwal
Seth Chhotalal Devchand
Government Nominee
Shri S. Rajagopalan
Shri M.R. Mayya
The following business was transacted in the meeting:
1 The letter dated 8-8-73 of Government regarding appointment of Shri M.R.
Mayya, present Dy. Director, Stock Exchange Division as a Government
Nominee on our Board in the place of Shri M.N. Deshmukh was read and
taken note of.
The President welcomed Shri M.R.Mayya and expressed hope that the Board
will continue to receive full support and co-operation from him as from his
predecessors.
In reply, Shri M.R. Mayya thanked and assured of his full support and co-
operation.
2 After considering the listing application of Hand Rotary Machines Ltd., and the
correspondence in that connection, it was resolved that, as the Company had
not yet furnished full information sought from it, it should be asked to send
additional information as decided during the discussion, latest by February, 7-
2
9-73 and considering the abovementioned listing application should be made
in the Board meeting to be held on Saturday, 8-9-73.
3 The application dated 26-7-73 of Shri Ratilal Balubhai nominating Shri
Vinitkumar P. Parekh as a member of the Exchange in his own place was
considered and after interviewing Shri Vinitkumar P. Parekh and his
recommenders S/Shri Jesinglal Savjibhai and Shantichand N. Jhaveri it was
resolved by 13 votes in favour and one against to elect Shri Vinitkumar
P.Parekh as a member of the Exchange in the place of Shri Ratilal Balabhai of
the Exchange subject to the Rules and Regulations of the Exchange on
condition that he will not do business in the market in his own name upto 13-
1-75.
4 Resolved that the notices mentioned against the names of the
undermentioned companies regarding cum right and ex-right transactions in
their shares should be confirmed:
1. Paper and Pulp Conversions Ltd. … Notice No:1373 dated 23-7-73.
2. Modi Industries Ltd. … Notice No: 1382/73 dated 23-7-
73.
3. National Machinery Manufactures Ltd. .. Notice No:1410 dated 27-7-73.
4. Ugar Sugar Works Ltd. … Notice No:1411/73 dated 27-3-73
5. Hindustan Wires Ltd. … Notice No:1429/73 dated 31-8-73
6. Bharat Steel Tubes Ltd. … Notice No:1484/73 dated 6-8-73
7. Indian Vegetable Products Ltd. … Notice No:1502/73 dated 8-8-73
8. The Industrial Credit & Investment
Corporation of India Ltd. … Notice No: 1679/73 dated 1-9-73.
5 Resolved that the Notices mentioned against the names of the respective
undermentioned companies regarding grant of permission for dealing in
letters of renunciation of their new shares be confirmed:
1. West Coast Paper Mills Ltd. … Notice No:1476/73 dated 6-8-73
2. Motor Industries Co.Ltd. … Notice No: 1571/73 dated 20-8-73
3. Andhra Steel Corporation Ltd. … Notice No:1586/73 dated 21-8-73
4. Modi Industries Ltd. … Notice No:1677/73 dated 30-8-73
6 Resolved that the undermentioned Notices be confirmed:
1. Notice No:1504/73 dated 8-8-73 regarding the Association Holiday of
the Coconut day.
3
2. Notice No: 1543/73 dated 1-9-73 regarding the Association Holidays of
the Samvatsari.
3. Notice No: 1548/73 regarding the Association Holiday of Gokulshtami.
7 The application for help of the Rashtriya Neta Smarak Committee was read
and it was resolved that their request cannot be accepted.
8 The application for loans of the undermentioned persons of our office staff
were considered and it was resolved to give them loans as under:
Shri H.A. Patni Rs.2300/-
Shri Vilas Gyandev Rs. 1000/-
9 Resolved that a donation of Rs. 5000/- be given to the Shri K.R.P. Shroff
Stock Exchange Sarvajanik Fund from the Stock Exchange Education and
Research Services Fund.
10 The Report dated 10-8-73 of Shri Shapurji Broacha Brokers’ Helping
Committee regarding giving of assistance from the Seth K.R.P. Shroff Stock
Exchange Sarvajanik Fund was read and it was resolved to approve that
Report.
11 The letter dated 1-9-73 of Smt. Gulaben Devidas Vyas w/o our late pensioner
Shri Devidas Madhavji Vyas was considered and it was resolved to give her
assistance of Rs. 75/- p.m. for two years from the Association Fund.
12 Resolved that from 1-1-1973 our Secretary Shri A.J. Shah should be paid a
remuneration of Rs.2875/- p.m. in the grade of Rs. 2500-125-3000/-. Shri
Nair should be paid Rs.2300/- p.m. in the grade of Rs.2000-100-2500/- and
in the officers grade of Rs.750-50-1250. Shri J.M. Lalka paid Rs. 1100/- p.m.
Shri S.N.Karaka should be paid Rs.1000/- p.m. Shri K.V.B. Shankar Rao
should be paid Rs.950/- p.m. Shri Nariman Dubash should be paid Rs.850/-
p.m. and Shri M.D.Vyas should be paid Rs.850/- p.m.
13 Resolved that pursuant to the arrangements arrived at salaries, grades,
dearness allowance etc., of clerks, sepoys and other officers of our office staff
etc., should be revised and made effective from 1-1-1973 as under:
Accountant and ‘A’ grade clerk Rs.200-15-260-20-400-25-600
‘B’ grade clerk Rs.90-8-130-10-180-12-240-15-300
‘C’ grade clerk } Rs. 70-6-100-8-140-10-200
Dispatch / MultilatchXerox etc. }
Sepoy/watchman/liftman Rs.40-4-80-5-120-6-150
Bhatt/Hamal /Sweeper Rs.36-3-60-4-100-5-125
4
Those whose present salary does not exactly fit in their grade should be
placed in the immediate upper step of their grades to make their salary fit
exactly on 1-1-73.
Dearness Allowance
Accountant ‘A’ grade clerk and
‘B’ grade clerk Rs. 360/- p.m.
‘C’ grade clerk Rs. 315/- p.m.
All other subordinate staff Rs. 220/- p.m.
From 1-7-74 for every 6 months for rise or fall of every 10 points in the
Bombay Working Class Index during the previous six months the dearness
allowance shall be increased or decreased by Rs.2.50p.
The retirement age will be 60 years. Gratuity will be paid at the rate of 1
months salary including Dearness Allowance for every years service subject to
a maximum of 25 months and the Rules of the Gratuity Act.
14 The letter dated 4-8-73 of Shri Krishnavadan Chhotalal Dalal and others was
considered and it was resolved to give permission to S/Shri Krishnavadan
Chhotalal Dalal and Ranjitlal Chhotalal Dalal to continue the business of M/s
C.V.Dalal & Co., for a period of three months.
15 The letter dated 17-8-73 of Bai Narbadevi and S/Shri P.M. Rungta and K.M.
Rungta was considered and it was resolved to give permission to Shri
Purshottam M. Rungta to continue the business of Shri Mahavir Badridas
Rungta for a further period of two months.
16 The letters of Anil Hard Boards Ltd., and S.B. Joshi & Co., were read and it
was unanimously resolved to re-admit their shares to our list of securities
traded on the Exchange as they have paid the Annual Listing Fee for the year
1973.
17 The listing applications of the undermentioned companies were considered
and it was unanimously resolved to confirm admission of their
undermentioned securities to our list of securities traded on the Exchange:
Zandu Pharmaceuticals Works Ltd. …New Equity
Universal Dyestuff Industries Ltd. …New Equity
The Parshuram Pottery Works Ltd. …Bonus Equity
Vickers Sperry of India Ltd. …New Equity
Bajaj Tempo Ltd. …Bonus Equity
Larsen & Toubro Ltd. …Bonus Equity
5
Kamani Engineering Corporation Ltd. …Bonus Equity
18 The listing applications of the undermentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations and compliance with the usual requirements and other special
requirements stipulated by us, their securities mentioned against their
respective names should be admitted to our list of securities traded on the
Exchange and dealings therein should be made in the lots so specified:
Northern India Hotels Ltd. Equity 50 shares
Northern India Hotels Ltd. Preference 5 shares
Madhya Pradesh Electricals Ltd. Equity 50 shares
Madhya Pradesh Electricals Ltd. Preference 5 shares
Sicals Ltd. Equity 50 shares
Orient Abrasives Ltd. Equity 50 shares
Orient Abrasives Ltd. Preference 5 shares
Haryana Breweries Ltd. Equity 50 shares
Haryana Breweries Ltd. Preference 5 shares
Eddy Current Controls Ltd. Equity 50 shares
Shree Chamundeshwari Sugar Ltd. Equity 50 shares
Shree Chamundeshwari Sugar Ltd. Preference 5 shares
Mahavir Ispat Ltd. Equity 50 shares
Mahavir Ispat Ltd. Preference 5 shares
Bengal Ferro Alloys Ltd. Equity 50 shares
German Remedies Ltd. Equity 50 shares
National Machinery Manufacturers Ltd. 8% Convertible Bonds – 1 Bond
sd/- sd/- A.J Shah Mathradas Samaldas Secretary President
Date: 8-9-73
1
Saturday, 8-9-73
A meeting of the Governing Board of the Stock Exchange was held today at ST.12.00
noon under the Chairmanship of Seth Mathradas Samaldas wherein the
undermentioned members of the Board were present:
Seth Mathradas Samaldas Seth B. M. Gandhi
Seth Pheroze Jeejeebhoy Seth Navinchandra Chhaganlal Kampani
Seth Rasiklal Maneklal Seth Vasantlal Champaklal
Seth Jasvantlal Chhotalal Seth B. N. Khandelwal
Seth Vasantlal Jivatlal Seth Ashokkumar G. Fozdar
Seth J. R. Motishaw Seth Chhotalal Devchand
Government Nominee
Shri M. R. Mayya
The following business was transacted in the meeting:
1. In the matter of the listing application of Havda Rotary Machines Ltd. its letter
dated 7-9-73 and 8-9-73 were read and the valuation reports and Balance Sheets
received therewith were looked into. It was resolved that the company should be
asked to submit urgently latest by Monday, 10-9-73 additional information and
whatever other clarification it wants to make as well as the details called for from it
which it has still not furnished, and that consideration of its listing application
should be made in the Board’s meeting on Tuesday, 11-9-73
Sd/- Sd/- A. J. Shah Jayant Amerchand Secretary President
Date: 11-9-73
Tuesday, 11-9-73
A meeting of the Governing Board of the Stock Exchange was held today at ST. 3.00
pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned
members of the Board were present:
Seth Jayant Amerchand Seth J. R. Motishaw
Seth Pheroze J. Jeejeebhoy Seth Vasantlal Kantilal
Seth Laldas Jamnadas Seth B.M. Gandhi
Seth Rasiklal Maneklal Seth Mathradas Samaldas
Seth Jasvantlal Chhotalal Seth N.C. Kampani
Seth Hiralal Girdharlal Seth Vasantlal Champaklal
Seth Chhotalal Devchand
Government Nominee
Shri M. R. Mayya
The following business was transacted in the meeting:
1. The listing application of Havda Rotary Machines Ltd., dated 28-6-73 and all the
correspondence with the company in that connection till today, including companies
letter dated 10-9-73 and our reply thereto given today were considered and it was
noted as under. Having considered all that, it was unanimously resolved that the
companies listing application is rejected and we cannot give permission for doing
business in its shares in our market:
i. That there were serious irregularities in regard to underwriting from the
very inception that the provision in this behalf in the draft prospectus
circulated amongst prospective underwrites and brokers was misleading
as it included the names of well-known financial institutions such as LIC,
UTI and others who subsequently did not appear as underwriters in the
final prospectus, that copies of the relevant correspondence with these
financial institutions had not been forwarded to the Exchange inspite of
reminders, that material information (such as the Balance Sheet of the
listed company and the constitution of the others) repeatedly called for
about the three principal underwriters has not been furnished though
these principal underwriters, namely, Nav Bharat Investments Ltd.,
Bombay (which does not seem to have filed its Balance Sheet with the
Registrar of Joint Stock Companies), Industrial Finance and Investment
Corporation of India, Calcutta and Market Research and Development
Council, Bombay, were responsible for underwriting equity shares of the
value of Rs.19 lakhs, Rs.8 lakhs and Rs.5 lakhs respectively representing
more than 50 per cent of the public offer and that there was failure to
make a public disclosure of the withdrawal of one of the important
underwriters, namely Messrs. Place, Siddons & Gough Pvt.Ltd., of
Calcutta.
ii. That the prospectus failed to comply with the mandatory provisions of
law contained in the Companies Act, 1956 in the matter of minimum
subscription.
iii. That the promoters as vendors had transferred their assets to the
company at the purported book value of Rs. 42,20,400/- that the copies
of Vendors’ Balance Sheets furnished by the Company showed that when
the assets were transferred by the Graphic Rotary Manufacturing
Corporation the capital provided by its sole proprietor Shri G.D. Handa
was only Rs.27,251.17 and his drawings amounted to Rs.1,22,190.67
leaving a debit balance of Rs.94,939.50 against which the unsecured
short term and long term borrowings of the concern were shown as
Rs.24,77,899.49 and similarly in the case of Vijay Engineering Works the
capital provided by the three partners Shri G.D. Handa, shri D.P. Handa
and Shri D.R. Handa amounted in all to Rs.52,897.75 against which the
unsecured short term and long term borrowings of the concern were
shown as Rs.21,64,509.54 that these disproportionately large unsecured
borrowings purported to have been made by the vendors were
represented by assets whose valuation had been done not by any
independent valuers but by the vendors themselves, that the
consideration for transferring the assets so valued was in the form of
fully paid up shares which the vendors had allotted to themselves before
their private limited company was converted into a public limited
company and the outside Directors had joined the Board and that as
such the position in respect of assets transferred by the promoters book
value of Rs.42,20,400/- appeared to be unsatisfactory.
iv. That there was objectionable publicity to attract subscriptions from the
public and that in spite of being called upon to do so more that once the
Company had failed to supply copies of advertisements, leaflets, etc.
published directly or indirectly in connection with the public issue and
offer for sale of shares.
v. That though required to do so the Company had failed to furnish
complete and properly certified copies of the documents supporting the
listing application and had also failed to rectify material omissions such
as in regard to copies of schedules annexed to and forming an important
part of the Vendors’ Agreements.
vi. That the Company had failed and neglected to furnish routine information
and comply with the usual formalities required of companies applying for
listing of new issues.
Sd/- Sd/- A. J. Shah Jayant Amerchand Secretary President
Date: 9-10-73
Tuesday, 9-10-1973
A meeting of the Governing Board of the Stock Exchange was held today at ST.
3.30 pm under the Chairmanship of Seth Jayant Amerchand wherein the
undermentioned members of the Board were present:
Seth Jayant Amerchand Seth Vasantlal Kantilal
Seth Pheroze J. Jeejeebhoy Seth B.M. Gandhi
Seth Mathradas Samaldas Seth N.C. Kampani
Seth Laldas Jamnadas Seth Vasantlal Champaklal
Seth Jasvantlal Chhotalal Seth B.N. Khandelwal
Seth Hiralal Girdharlal Seth Ashokkumar G. Fozdar
Seth Vasantlal Jivatlal Seth Chhotalal Devchand
Seth J.R. Motishaw
Government Nominees
Shri M. R. Mayya
Shri S. Rajgopalan
The following business was transacted in the meeting:
1. Resolved that the relevant notices regarding cum-right and ex-right
transactions in the shares of the undermentioned companies are
confirmed:
1 Shree Digvijay Cement Co.Ltd. Notice No:1720/73 dt. 5-9-73
2 Mahendra Electricals Ltd. Notice No:1773/73 dt. 14-9-73
3 Mahindra and Mahindra Ltd. Notice No:1774/73 dt. 14-9-73
4 Jayshree Tea and Industries Ltd. Notice No:1816/73 dt. 21-9-73
5 Graphite India Ltd. Notice No:1835/73 dt. 24-9-73
6 Camphor and Allied Products Ltd. Notice No:1844/73 dt. 26-9-73
7 The Ahmedabad Advance Mills Ltd. Notice No:1877/73 dt. 2-10-73
2. Resolved that the undermentioned Notices are confirmed:
1 Notice No:1740/73 dated 7-9-73 regarding grant of permission for
dealings in the Letters of Renunciation of the new Equity shares of Paper
and Pulp Conversions Ltd.
2 Notice No:1783/73 dated 10-9-73 regarding validity of delivery of new
equity shares of Supreme Industries Ltd., against its old equity shares.
3. The application for help of the National Association for the Blind dated 20-
9-73 was read and it was resolved to give it a donation of Rs.101/- from
the Association Fund.
4. The applications of the undermentioned employees for giving them help
for medical treatment during their sickness were considered an it was
resolved to give them assistance from Seth K.R.P. Shroff Sarvajanik Fund
as shown against their names:
Shri T.G. Rs.143.45p
Shri Santaram Narayan Rs.550/-
5. The application dated 1-10-73 for loan of sepoy Pandurang Gopal of our
office was considered and it was resolved to give him a loan of Rs.500/-.
6. The resignation dated 11-8-73 of Shri V.J.Patni, an officer of our office
staff was considered and it was resolved to accept his resignation and pay
him gratuity of Rs.11,576/50 from the Gratuity Fund and the amount
accumulated in his Provident Fund Account.
7. The resignation dated 13-9-73 of our sweeper Mohan Deva was
considered and it was resolved to accept it and pay him Rs.2568.80 from
the Gratuity Fund and the amount accumulated in his Provident Fund.
8. The application dated 31-1-73 of our pensioned Shri K.B. Daruwala for
enhancing his pension in view of the present cost of living was read and it
was resolved that those pensioners who have formally retired from the
service of our Association and are at present being given pension should
be given increased pension as follows:
Shri N.N. Dubash Rs.750/-; Shri Maganlal Jivatbhai Desai Rs.240/-; Shri
Madhav Atmaram Thone Rs.55/-; Shri Bhiva Babu Rs. 50/-, Shri Bhiva
Arjun Dhag Rs.50/- and Shri K.B. Daruwala Rs.250/- each per month.
9. Resolved that our market should be kept open on Thursday 25-10-73
from 6.30 pm to 7.30 pm for Muhurat Trading for the Kartik Vikram
Samvat 2030.
10. The application dated 17-9-73 of Shri R.K. Bhatt nominating Shri
Pravinchandra Durgashankar as a member of the Exchange in his own
place was considered and after interviewing Shri Pravinchandra
Durgashankar Shukla and his recommenders S/Shri V.K. Nanavati and
Hiralal Chunilal it was resolved by 15 votes in favour and none against to
elect Shri Pravinchandra Durgashankar as a member of the Exchange in
the place of Shri R.K. Bhatt subject to the Rules and Regulations of the
Exchange.
11. The application dated 24-7-73 of the near relatives of the late Shri
Mahavir Badridas Rungta nominating Shri Purshottamlal Mahavirprased
Rungta as a member of the Exchange in the place of the late Shri
Mahavirprasad Badridas Rungta was considered and after interviewing
Shri Purshottamlal Mahavirprased Rungta and his recommenders S/Shri
Chinubhai Dalal and Gaurishankar Puranmal it was resolved by 11 votes in
favour and none against to elect Shri Purshottamlal Mahavirprased Rungta
as a member of the Exchange subject to the Rules and Regulations of the
Exchange.
12. The application dated 12-9-73 of Shri Mohammed Hussain Ali Mohammed
Gulamhussain Mohinbhai nominating Shri Ashok Jayantilal Khandwala as a
member of the Exchange in his own place was considered and after
interviewing Shri Ashok Jayantilal Khandwala and his recommenders
S/Shri Mansukhlal Lallubhai Dalal and Sanat M. Dalal it was resolved by
15 votes in favour to elect Shri Ashok Jayantilal Khandwala as a member
of the Exchange in place of Shri Mohammed Hussain Ali Mohammed
Gulamhussain Mohinbhai subject to the Rules and Regulations of the
Exchange.
13. The matter regarding transactions in new issues was discussed and it was
postponed for further discussion in the next meeting.
14. Resolved that in respect of our old buildings constructed part of which has
been demolished from the book value of such buildings recorded in our
Accounts books Rs.1,16,499.67 should be written off by showing the
amount as expenses in the Income Expenditure Account for the year 1972
as being the cost of the demolished construction work and the balance
amount of Rs.9,80,000/- should be shown as value of the land of such
buildings.
15. The report of our Association for the year 1973 Income Expenditure
Account and Balance Sheet were passed.
16. Resolved that a Current Account and a Safe Custody Account be opened
with Bank of India in the name of Seth “K.R.P. Shroff Stock Exchange
Sarvajanik Fund” and be operated on by any two of the Trustees for the
time being namely, Shri J. R. Motishaw, Shri Rasiklal Maneklal and Shri
Dhirajlal Maganlal of any two of the surviors of them or the survivor of
them, or jointly by the President Shri Jayant Amerchand or the Chairman
Shri P. J. Jeejeebhoy, or the Vice President , Shri Mathradas Samaldas or
the Hon. Treasurer Shri Vasantlal Champaklal, and any one of the
following seven members of the Governing Board , namely, Shri Rasiklal
Maneklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharilal, Shri B.
M. Gandhi, Shri. Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal
and Shri A. R. Mahadevia and be countersign of by the Secretary Shri A. J.
Shah.
17. Resolved that a Current Account and a Safe Custody Account be opened
with Bank of India in the name of “Shri M. C. Mehta Smarak Fund” and be
operated on by any two of the Trustees for the time being, Shri J. R.
Motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any two of
the surviours of them or the survivor of them, or jointly by the President
Shri Jayant Amerchand or the Chairman Shri P. J. Jeejeebhoy or the Vice
President Shri Mathradas Samaladas or the Hon. Treasurer Shri Vasnatlal
Champaklal, and any sum of the following members of the Governing
Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani,
Shri Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah,
Shri Jasvantlal Chhotalal, and Shri A. R. Mahadevia and be countersigned
by the Secretary Shri A. J. Shah.
18. Resolved that a Current Account and Safe Custody Account be opened
with bank of India in the name of “Manilal C. Baxi Prize Fund” and be
operated on by any two of the Trustees for the time being, namely, Shri J.
R. Motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any two
of the surviors of them or the survivor of them, or jointly by the President
Shri Jayant Amerchand or the Chairman Shri P. J. Jeejeebhoy or the Vice-
President Shri Mathradas Samaldas or the Hon Treasurer Shri Vasantlal
Champaklal, and any of the following seven members of the Governing
Board, namely Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani, Shri
Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasnatlal Kantilal Shah, Shri
Jasvantlal Chhotalal and Shri A. R. Motishaw and be countersigned by the
Secretary Shri A. J. Shah.
19. Resolved that a Current Account and Safe Custody Account be opened
with Bank of India in the name of “Famine Relief Fund” and be operated
on by any two of the Trustees for the time being, namely, Shri J. R.
Motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any two of
the survivors of them of survivor of them, or jointly by the President Shri
Jayant Amerchand or the Chairman Shri P. J. Jeejeebhoy or the Vice-
President Shri Mathradas Samaldas or the Hon. Treasurer Shri Vasantlal
Champaklal, and any one of the following members of the Governing
Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani,
Shri Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah,
Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned
by the Secretary Shri A. J. Shah.
20. Resolved that a Current Account and Safe Custody Account be opened
with Bank of India in the name of “Sankat Nivaran Fund” and the operated
on by any two of the Trustees for the time being, namely, Shri J. R.
motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any two of
the survivors of them or the survivor of them, or jointly by the President
Shri Jayant Amerchand or the Chairman Shri P. J. Jeejeebhoy or the Vice-
President Shri Mathradas Samaldas or the Hon Treasure Shri Vasantlal
Chhotalal and any one of the following seven members of the Governing
Board, namely Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani Shri
Hiralal Girdharilal, Shri B. M. Gandhi, Vasantlal Kantilal Shah, Shri
Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned by
the Secretary Shri A. J. Shah.
21. Resolved that a Current Account and Safe Custody Account opened with
Bank of India in the name of “Sheth Shantilal Jamnadas Smark Fund and
be operated on by any two of the Trustees for the time being, namely Shri
J. R. motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any
two of the survivors of them or the survivor of them or jointly by the
President Shri Jayant Amerchandor or the Chairman Shri P. J. Jeejeebhoy
or Wice-President Shri Mathradas Samaldas or the Hon. Treasurer Shri
Vasantlal Champaklal, and any one of the following seven members of the
Governing Board, namely, Shri Rasiklal maneklal, Shri Navinchandra C.
Kampani, Shri Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasantlal Kantilal
Shah, Shri Jasvantlal Chhotalal and Shri A. R. mahadevia and be
countersigned by the Secretary Shri A. J. Shah.
22. Resolved that a Current Account and Safe Custody Account be opened
with Bank of India in the name of “Dharmada Fund” and be operated on
by any two of the Trustees for the time being, namely, Shri J. R.
motishaw, Shri Rsiklal Maneklal and Shri Dhirajlal Maganlal or any two of
the survivors of them or the survivor of them, jointly, by the President
Shri Jayant Amerchand or the Chairman Shri P. J. Jeejeebhy or the Wice-
President Shri Mathrudas Samaldas or the Hon. Treasurer Shri Vasantlal
Champaklal, and any one of the following seven member of the Governing
Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani,
Shri Hiralal Girdharialal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah,
Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned
by the Secretary Shri. A. J. Shah.
23. The Chairman made mention about the prevailing market situation and
because of that having taken from time to time additional security deposit
in different ways, having understood that, it was resolved to confirm the
notices put up in that connection, especially Notice No:1240/73 dated 9-
8-73 and to authorized the Chairman to make changes and / modifications
therein from time to time as deemed proper and to take additional
security deposit in any other manner and take other safety measures.
24. The application dated 27-9-73 of M/s Porecha Brothers to give them
extension of time for filing an appeal against the award of the lower bench
of the Arbitration Committee in the dispute between them and M/s
S.L.Despande and Co., regarding the shares of Sutdoj Cotton Mills Ltd.,
was considered and it was resolved that M/s Porecha Brothers be given
time upto 17-10-73 for filing an appeal in that matter.
25. The letters dated 1-9-73 and 28-9-73 of Industrial Cables (India) Ltd.,
were considered and it was unanimously resolved that as the equity
shares of the company have been sub-divided into shares of Rs.10/- each
the trading lot of those shares should be changed and kept of 50 shares of
Rs.10/- each.
26. The letter of Indo Swedish Pipe Manufacturers Ltd., dated 14-9-73 and the
letter dated 27-9-73 of Uttar Pradesh Steels Ltd., were read and it was
resolved to re-admit their shares to the list of securities traded on the
Exchange, as they have paid the Annual Listing Fee for the year 1973.
27. The listing applications of the undermentioned companies were considered
and it was unanimously resolved to confirm admission of their securities
shown against their respective names to our list of securities traded on
the Exchange:
Khatau Makauji Spg.& Wvg. Co. Ltd. Bonus Equity
Special Steels Ltd. Bonus Equity
The West Coast Paper Mills Ltd. Bonus Equity
Sakthi Sugars Ltd. Bonus Equity
Ceat Tyres of India Ltd. Bonus Equity
28. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations and compliance with the usual requirements and other special
requirements stipulated b us their securities mentioned against their
respective names should be admitted to our list of Non-Cleared Securities
and dealings in those securities should be made in the trading lots
specified against their respective names:
Bilarpur Spg. Mills and Industries Ltd. Equity 50 shares
Bilarpur Spg. Mills and Industries Ltd. 9.3% Preference shares – 5 shares
Bilarpur Spg. Mills and Industries Ltd. 9.5% Preference shares – 5 shares
Bilarpur Spg. Mills and Industries Ltd.
Bhagwati Oxygen Ltd. Equity 50 shares
Julon Fabrics Ltd. Equity 50 shares
Uni Abex Alloys Products Ltd. Equity 50 shares
Uni Abex Alloys Products Ltd. Preference 5 shares
Deccan Steel & Alloys Corporation Ltd. Equity 50 shares
Deccan Steel & Alloys Corporation Ltd. Preference 5 shares
Hind Wire Industries Ltd. Equity 50 shares
Unicorn Tyres Ltd. Equity 50 shares
Machine Fabric Polygraph (India) Ltd. Equity 50 shares
Searsal Chemicals Ltd. Equity 50 shares
Ajay Electricals Ltd. Equity 50 shares
Ajay Electricals Ltd. Preference 5 shares
Marathwada Alloy Steels Co.Ltd. Equity 50 shares
Grayham First Steel Products (India) Ltd
Equity 50 shares
Karnatak Steel & Wire Product Ltd. Equity 50 shares
Karnatak Steel & Wire Product Ltd. Preference 5 shares
Sd/- Sd/- A. J. Shah Jayant Amerchand Secretary President
Date: 20-11-73
1
Tuesday, 20-11-73
A meeting of the Governing Board of the Stock Exchange was held today at ST. 3.00
pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned
members of the Board were present:
Seth Jayant Amerchand Seth Vasantlal Kantilal
Seth Pheroze J. Jeejeebhoy Seth B.M. Gandhi
Seth Mathradas Samaldas Seth N.C. Kampani
Seth Rasikal Maneklal Seth Vasantlal Champaklal
Seth Jasvantlal Chhotalal Seth B.N. Khandelwal
Seth Hiralal Girdharlal Seth Ashokkumar G. Fozdar
Seth Vasantlal Champaklal Seth Chhotalal Devchand
Seth J.R. Motishaw
Government Nominees
Shri M. R. Mayya
The following business was transacted in the meeting:
1. Resolved that the notices regarding ex-right and cum-right transactions
mentioned against the names of the respective undermentioned companies
should be confirmed:
1 Indian Aluminum Co. Ltd. Notice No:1995/73 dt. 17-10-73
2 Jayant Paper Mills Ltd. Notice No:2028/73 dt. 20-10-73
3 Modela Woollen Mills Ltd. Notice No:2048/73 dt. 24-10-73
4 The Raymond Woollen Mills Ltd. Notice No:2094/73 dt. 2-11-73
5 The Dharamsi Morarji Chemicals Ltd. Notice No:2095/73 dt. 2-11-73
6 Sandwik Asia Ltd. Notice No:2210/73 dt. 19-11-73
2. Resolved that the Notices mentioned against their names of the undermentioned
companies giving permission to deal in the Letter of Renunciation of their new
shares should be confirmed :
1 The Industrial Credit and Investment
Corporation of India Ltd.
Notice No:2090/73 dt. 2-11-73
2 The Ahmedabad Advance Mills Ltd. Notice No:2150/73 dt. 9-11-73
2
3 Graphite India Ltd. Notice No:2177/73 dt. 14-11-73
3. Resolved that the undermentioned notices should be confirmed:
1 Notice No:1968/73 dated 12-10-73 instructing to write in the shares of the
Baroda Rayon Corporation Ltd., instead of the shares of Gujarat Polyamides Ltd.
2 Notice No: 2046/73 dated 24-10-73 regarding giving of permission for dealing in
coupons of the bonus equity shares of Indian Vegetable Products Ltd.
3 Notice No: 2049/73 dated 25-10-73 regarding making adjustment of the
dividend on the shares of Belapur Sugar Industries Ltd.
4 Notice No: 2074/73 dated 31-10-73 regarding permissibility of delivery of new
equity shares of Verdhman Spg. & General Mills Ltd., against its old shares.
4. The application for help dated 28-9-73 of the Poona School and Home for the
Blind was considered and it was resolved to give it a donation of Rs. 101/- from
the Association Fund.
5. The applications for loans of the undermentioned persons of our office staff were
considered and it was resolved to give them loans of the amounts mentioned
against their respective names:
Shri C.V. Valsan Rs. 1800/-
Shri N.M. Ale Rs. 1200/-
Watchman S.K. Lal Rs. 500/-
Liftman S.V. Jadav Rs. 300/-
6. The application dated 14-11-73 of our office staff member Shri S.M.Dauda for
giving him assistance of the college fee of Rs. 112/- of the second term of 1st LLB
was considered and it was resolved to give him that much assistance from Shri
M.C.Mehta Smarak Fund.
7. The application for undermentioned partnership were considered and approved:
Name of Partnership Firm
Name of Partners Date of partnership
M/s A.B. Pandit & Co Shri Dattaram Narkari Patkar Shri Narhar Dattaram Patkar
1-10-73
M/s Mahavir Badridas Shri Satyanarayan Bhuramal 2-11-73 Shri P.M. Rungta
8. The letter dated 2-11-73 of S/Shri Jayantilal N. Patel and Sakarchand Hathising
were considered and it was resolved to confirm the permission given to Srhi
Sakarchand Hathising to do business as a Representative Member of Shri
Jayantilal N. Patel.
9. The letter dated 21-7-73 of Shri Sunderdas Kalyanji Kankal and the letter dated
24-8-73 pf Shri Shivdas Thakarsi were read and it was resolved to annul the
3
claim of Rs.15000/- of Shri Sunderdas Kalyanji Kankal recorded against Shri
Shivdas Thakarsi.
10. The application dated 3-9-73 of S/Shri Shivdas Thakarsi and Prakash Shivdas
Thakarsi for partnership and their letters dated 3-9-73 as well as of Shri Jayantilal
Jeshinglal to give permission to the said partnership to do business as a
Representative Member of Shri Jayantilal Jeshinglal were considered and it was
resolved that their request cannot be complied with.
11. The letter dated 1-11-73 of Bai Sharda Gulabchand and Shri Sumantrai
Gulabchand Shah was considered and it was resolved to give permission to Shri
Sumantrai Gulabchand to continue the business of the late Shri Gulabchand
Mulchand Shah for three months.
12. The letter dated 1-11-73 of Shri Krishnavadan Chhotalal Dalal and others was
considered and it was rsolved to give permission to S/Shri Krishnavadan
Chhotalal Dalal and Ranjitlal Chhotalal Dalal to continue the business of M/s C.V.
Dalal & Co., for a further period of 2 months.
13. The Board noted that the Chairman had declared Shri Jayantkumar Khatau as a
defaulter as he had failed to meet his liabilities in the market and Shri V.V.Ruia
has become a defaulter according to our Rules and Regulations as he has been
declared as an insolvent on 17-7-73.
14. The Association Holidays for the year 1974 were fixed.
15. Resolved that the President and the Chairman both together should purchase
processor, card reader, line printer, magnetic tape unit etc., electronic
equipments from the Hyderabad Electronic Corporation of India as they deem fit.
16. The application dated 3-10-73 of the near relatives of the late Shri Sitaldas
Tirathdas nominating Shri Kantilal Tirathdas as a member of the Exchange in the
place of the late Shri sitaldas Tirathdas was considered and after interviewing Shri
Kantilal Tirathdas and his recommenders S/Shri Jitendra Champaklal ans S.B.
Sirale it was resolved by 13 votes in favour and none against to elect Shri
Kantilal Tirathdas as a member of the Exchange in the place of the late Shri
Sitaldas Tirathdas, subject to the Rules and Regulations of the Exchange.
17. The application dated 20-10-73 of the near relatives of the late Shri Mahadeo
Vishnu Gokhle nominating Shri Satyanarayan Mangilal Khetan as a member of the
Exchange in the place of the late Shri Mahadeo Vishnu Gokhle was considered
and after interviewing Shri Satyanarayan Mangilal Khetan and his recommenders
S/Shri D.G. Goenka and Manubhai Maneklal it was resolved by 13 votes in favour
and none against to elect Shri Satyanarayan Mangilal Khetan as a member in the
place of late Shri Mahadeo Vishnu Gokhle subject to the Rules and Regulations of
the Exchange.
4
18. Resolved that “ending of the arrangements” with Gerze Eastern Ltd., in
connection with construction of our new building as stated in their letter dated
10-8-73 should be approved and the arrangements made as under instead of that
should be confirmed:
Appointment
Remuneration
Project Architect – Shri Chandrakant Patel of Architectural Research Unit
Subject to the ceiling of 71/2 lakhs Rupees, 31/2 % of the cost of the construction of the building-excluding the expenditure for lifts and air-conditioning plant.
Stock Exchange Architect- Shri Jamshed B. Aga of M/s Shapoorji Chandabhai
Rs. 2500 p.m.- subject to the ceiling of Rs. 50,000/- total.
Structural Consultants- M/s Hadkar Prabhu and Associates
Subject to the ceiling of Rs.31/2 lakhs, 21/2% of the value of the structural work excluding therefrom the amount paid to M/s Rodio Hazard billed before now.
Air-conditioning Consultants – M/s Manek N. Dastoor
Subject to a ceiling of Rs. 11/2 lakhs, 11/2% of the expenses of the work for air-conditioning and ventilation.
M/s Hydro –Mechanical Services
Subject to the ceiling of Rs.10,000/-, 1% of the expenses of the plumbing and sanitation work for supervision during alterations and modifications and the construction work.
Consultants for Electric Installations – shri D.N. Purandar and Associates
Rs. 25,000/-
Praoject Manager- Lt. col. P.D. Jain
Salary, allowances etc., Total Rs.3500/- p.m.
Note: If any additional construction work if done in lieu of the existing space
excepting the Cama building and 4th and 5th floors of the existing building
on the Apollo Street, then each of the above mentioned consultants for
whose fees ceilings have been fixed shall be paid additional remuneration
at the percentage rate mentioned above.
19. The listing applications of the undermentioned companies were considered and it
was unanimously resolved to confirm admission of their below mentioned
securities to the list of securities traded on our Exchange:
Tata Chemicals Ltd. New Equity
5
The Morarji Gokuldas Spg. & Wvg., Co.Ltd. Bonus Equity
Indian vegetable Products Ltd. Bonus Equity
The Scindia Steam Navigation Co.Ltd. Bonus Equity
20. The listing applications of the undermentioned companies were considered an it
was unanimously resolved that subject to the Listing Rules and Regulations as
well as compliance with the usual requirements and other special requirements
stipulated by us, their securities mentioned against their names should be
admitted to our list of Non-Cleared Securities and dealings in those securities
should be done in the specified lots:
The Andhra Bank Ltd. Equity 5 shares
Punjab Anand Batteries Ltd. Equity 50 shares
Punjab Anand Batteries Ltd. Preference 5 shares
Yeast Alco Enzymes Ltd. Equity 50 shares
Madras Cements Ltd. Equity 5 shares
Madras Cements Ltd. Preference 5 shares
Sunita Vitamins & Chemicals Ltd. Equity 50 shares
Sunita Vitamins & Chemicals Ltd. Preference 5 shares
Ranbaxy Laboratories Ltd. Equity 50 shares
Saraiya Steel Ltd. Equity 50 shares
Goa Carbon Ltd. Equity 50 shares
Goa Carbon Ltd. Equity 50 shares
Crest Dyes & Chemicals Ltd. Equity 50 shares
Moon-Star Investments Ltd. Equity 50 shares
Andhra Steel Corporation Ltd. New 9.5% preference – 5 shares.
21. In the matter relating to the listing application of Multe Steels (India) Ltd., the
telegram of the Economic Affairs Department and a copy of the letter written by
the Deputy Controller of Capital Issues to the company on 9-11-73 were read
and it was resolved to postpone the matter at present.
22. The letter dated 22-10-73 of the Century Spg., and Mfg., Co.Ltd., was read and
it was unanimously resolved to remove its 8.50% Preference shares from our
list of securities traded on the Exchange as they are to be redeemed.
23. RESOLVED THAT with effect from the 1st of January, 1974, the following
amendment be made in the Regulations and Government be informed
accordingly
For Regulation 1.15, the following shall be substituted namely:
“Variation in Bids and offers
6
1.15 Unless otherwise directed by the Governing Board or otherwise
stipulated when entering into the bargain bids or offers shall be made at
the following minimum variations or multiples thereof:
I Shares of Joint Stock Companies when
market price
Dose not exceed Rs.5
Exceed Rs.5 but dose not exceed Rs.75
Exceed Rs.75
Minimum Variation
Re.0.02,
Re.0.05
Re.0.25
II Government Securities (including Loans and
Debenture of Port Trust, Municipal
Corporation, etc.
Re.0.05
III Debentures of Joint Stock Companies Re.0.05
Sd/- Sd/- A. J. Shah Jayant Amerchand Secretary President
Date: 24-12-73
Monday, 24-12-1973
A meeting of the Governing Board of the Stock Exchange was held today at ST. 3.00
pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned
members of the Board were present:
Seth Jayant Amerchand Seth J.R. Motishaw
Seth Pheroze J. Jeejeebhoy Seth Vasantlal Kantilal
Seth Rasikal Maneklal Seth B.M. Gandhi
Seth Jasvantlal Chhotalal Seth Vasantlal Champaklal
Seth Hiralal Girdharlal Seth B.N. Khandelwal
Seth Chhotalal Devchand
Government Nominees
Shri M. R. Mayya
The following business was transacted in the meeting:
1. Resolved that the notices mentioned against the names of the undermentioned
companies regarding ex-right and cum-right transactions in their shares are
confirmed:
1 Jayant Paper Mills Ltd. Notice No:2244/73 dt. 23-11-73
2 Southern Steel Ltd. Notice No:2333/73 dt. 3-12-73
3 The Ravalgaon Sugar Farm Ltd. Notice No:2368/73 dt. 5-12-73
4 Asian Electronics Ltd. Notice No:2468/73 dt. 21-12-73
2. Resolved that the undermentioned notices are confirmed :
1 Notice No:2219/73 dated 21-11-73 regarding keeping the market closed on 21-
11-73 for business.
2 Notice No: 2288/73 dated 28-11-73 for keeping the market open from S.T. 12
to 1 pm., on every Thursday for doing business.
3 Notice No: 2300/73 dated 29-11-73 regarding permissibility of delivery of bonus
equity shares of Special Steels Ltd., against its old shares.
3. The applications of the undermentioned persons who have left their jobs from our
staff for paying them their Provident Fund amounts were read and it was resolved
to pay each of them the amount of the Provident Fund noted against their names,
according to the rules and regulations of our Provident Fund.
Shri J.A. Baraco Rs.1827/72
Shri C.K.M. Pilai Rs. 368/98
4. The applications of the undermentioned persons of our office staff for giving them
loans were read and it was resolved to give each of them a loan of the amount
stated against their respective names:
Shri R.R. Shivalkar Rs.1500/-
Sepoy Raghunath Krishnaji Rs. 1000/-
Sepoy Govind Mahadev Khotala Rs. 700/-
5. Resolved that a donatin of Rs. 4400/- should be given to Share Bazar Hetwarthak
Mandal from Shri M.C. Mehta Smarak Fund.
6. The application dated 15-12-73 of Shri T.G. Babu of our office staff for giving him
assistance for the expenses incurred by him for medical treatment during his
sickness was read and it was resolved to give him assistance of Rs.100/-
therefore from Seth K.R.P.Shroff Stock Exchange Sarvajanik Fund.
7. The letter dated 19-11-73 of S/Shri Minoo Ardesar Karanjia, Soli Ardesar Karanji,
Minoo Navroji Gandhi and Hoshang Framroze Munshi was read and it was noted
that Shri Hoshang Framroze Munshi was to retire from M/s Batliwala & karani
from 17-12-83.
8. The applications relating to the undermentioned partnerships were considered
and approved:
Name of Partnership Firm
Name of Partners Date of partnership
M/s Dhirajlal Kalyanji Shri Dhirajlal Kalyanji Shri Harikishandas Kalyanji
10-12-73
M/s Vithaldas Ramji Marthak
Shri Vithaldas Ramji Marthak Shri Jitendra Vithaldas Shri Kishor Vithaldas Marthak
27-10-73
9. The letter dated 29-11-73 of Maharashtra Development Counsel was read and it
was resolved that as it our policy not to become a member of any association or
institution, the matte should be postponed at present.
10. The application dated 20-11-73 of Shri Nemchand Vithalji nominating Shri
Kirtikumar Narbheram Parekh as a member of the Exchange in his own place was
considered and after interviewing Shri Kirtikumar Narbheram Parekh and his
recommenders S/Shri Navalchand Tarachand Shah and Jayantilal C. Shah it was
resolved by 10 votes in favour and none against to elect Shri Kirtikumar
Narbheram Parekh as a member of the Exchange in the place of Shri Nemchand
Vithalji Shah subject to the Rules and Regulations of the Exchange.
11. The letter dated 19-12-73 of Shri Chunilal Shivnarayan Mamandas withdrawing
his application for membership of the Exchange was noted.
12. The letters dated 16-11-73 of S/Shri Ambalal Velji Shah and Vijay Ambalal Shah
withdrawing their application regarding nomination of Shri Vijay Ambalal Shah in
the place of Shri Ambalal Velji Shah as a member of the Exchange was read and
taken note of.
13. Resolved that Notice No:2422/73 dated 13-12-73 regarding extension of
“Statement Day” to 9-1-84 because of Christmas Holidays and hence treating the
transactions to be settled accordingly as special delivery transactions should be
confirmed.
14. Resolved that the Notice No:2427/73 dated 13-12-73 regarding settlement of
shares by “Sellers” Tickets should be confirmed. Further resolved that the
Chairman be given powers to make alterations and additions in that system from
time to time as he deems fit and also powers to introduce any similar or other
system of settlement.
15. Resolved to confirm the order given to Godrej Boyce & Mfg. Co.Ltd., for the
tangbars required for construction of the safe deposit vault to be built in the
basement of our new building and also for its main door.
16. The listing applications of the undermentioned companies were considered and it
was unanimously resolved to approve admission of their securities mentioned
against their respective names to the list of securities traded on our Exchange.
The New Shorok Spg.& Mfg. Co.Ltd. New Equity shares allotted to
the shareholders of Magatlal
Gagalbhai & Co. Pvt.Ltd.
The Polychem Ltd. Bonus Equity
Motor Industries Ltd. New Equity
United Carbon India Ltd. Bonus Equity
Bharat Steel Tubes Ltd. Bonus Equity
The Baroda Rayon Corporation Ltd. New Equity shares issued in lieu
of the shares of Gujarat
Polymedes Ltd.
17. The listing applications of the undermentioned companies were considered and it
was unanimously resolved that subject to the Listing Rules and Regulations as
well as compliance with the usual requirements and other special requirements
stipulated by us their securities as mentioned below should be admitted to our list
of Non-Cleared Securities and dealings in those securities should be made in the
Specified lots:
Muzaffairnagar Steels Ltd Equity 50 shares
Muller and Phillips India Ltd. Equity 50 shares
Jupiter Breweries Ltd. Equity 50 shares
Stobee Screens India Ltd. Equity 50 shares
Canara Steel Ltd. Equity 50 shares
Agarwal Steel Complex Ltd. Equity 50 shares
Agarwal Steel Complex Ltd. Preference 5 shares
Universal Glass Ltd. Equity 50 shares
B.D. Steel Castings Ltd. Equity 50 shares
B.D. Steel Castings Ltd. Preference 5 shares
Bharat Commerce & Industries Ltd. Equity 50 shares
Bharat Commerce & Industries Ltd. Second Preference 5 shares
Bharat Commerce & Industries Ltd. Third Preference 5 shares
Thirumalai Chemicals Ltd. Equity 50 shares
Mysore Petro Chemicals Ltd. Equity 50 shares
Mysore Petro Chemicals Ltd. Preference 5 shares
Bengal Arc Steel Ltd. Equity 50 shares
Madhya Pradesh Industries Ltd. New Equity 50 shares
Star Textile Engineering works Ltd. New Equity t50 shares
Star Textile Engineering Works Ltd. 9.5% new preference share
– 5 shares
Modi Industries Ltd. New equity – 100 shares.
18. In the matter relating to Multi Steel (India) Ltd., the telegram of the Economic
Affairs Department was read. As the company has given satisfactory clarification
to the Government ans the Government has accepted it, the listing application of
the company was considered and it was resolved that subject to the Listing Rules
and Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us, its equity shares should be admitted to our
Non-Cleared Securities list and trading in those shares should be done in lots of
50 shares.
19. It was noted that the Handa Rotary Machines Ltd., has appealed to Government
against our decision to reject its listing applications and it was resolved that we
should engage a Counsel to represent on our behalf in that appeal matter and the
Chairman should do the needful in that connection.
20. Unanimously resolved that as the 61/2% Preference shares of Mahindra & Mahindra
have been redeemed those shares should be removed from our list of securities
traded on the Exchange.
21. Unanimously resolved that as the Deferred shares of the Ravalgaon Sugar Farm
Ltd., have been converted into equity shares, the said deferred shares should be
removed from our list of securities traded on the Exchange.
22. Resolved that a donation of Rs. 1,00,000 should be given from the Association
Fund to the Stock Exchange Foundation which has been approved under Section
35(1)(2).
23. Resolved that an assistance of Rs. 65,000/- should be given to the Stock
Exchange Foundation from “The Stock Exchange Education and Research Services
Fund” and also of Rs.500/- to Shri M.C. Mehta Smarak Fund.
Sd/- Sd/- A. J. Shah Jayant Amerchand Secretary President
Date: 22-1-74
Tuesday, 22-1-74
A meeting of the Governing Board of the Stock Exchange was held today at ST. 3.00
pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned
members of the Board were present:
Seth Jayant Amerchand Seth J.R. Motishaw
Seth Pheroze J. Jeejeebhoy Seth A.R. Mahadevia
Seth Mathradas Samaldas Seth Vasantlal Kantilal
Seth Rasikal Maneklal Seth B.M. Gandhi
Seth Hiralal Girdharlal Seth Navinchandra C. Kampani
Seth Ashokkumar G. Fozdar
Government Nominees
Shri M. R. Mayya
Shri S. Rajgopalan
The following business was transacted in the meeting:
1. Resolved that the notices mentioned against the names of the undermentioned
companies regarding ex-right and cum-right transactions in their shares are
confirmed:
1 J.K. Synthetics Ltd. Notice No:2497/73 dt. 24-12-73
2 Kirloskar Ghatge Patil Auto Ltd. Notice No:16/74 dt. 1-1-74
3 Swan Mills Ltd. Notice No:65/74 dt. 9-1-74
4 Aditya Mills Ltd. Notice No:97/74 dt. 15-1-74
5 Bombay Dyeing & Mfg. Co.Ltd. Notice No:103/74 dt. 16-1-74
6 Amar Dye Chem. Ltd. Notice No:127/74 dt. 18-1-74
2. Resolved that the undermentioned notices are confirmed :
1 Notice No:2513/73 dated 29-12-73 regarding settlement of hand delivery
transactions and of the foreign securities after the Christmas.
2 Notice No: 2510/73 dated 29-12-73 regarding allowing transactions in Letter of
Renunciation of the new Equity shares of Indian Aluminum Co.Ltd.
3 Notice No: 18/74 dated 1-1-74 regarding market of ex-dividend transactions in
shares other than those which are settled by red black forms instead of from the
date of closure of the transfer books from the first Monday following the date of
closure of the transfer books.
4 The Notice No:22/74 dated 3-1-74 regarding permission given for dealings in
coupons of the bonds equity shares of Sandwik Asia Ltd.
3. The applications for help of the undermentioned institutions were considered and
it was resolved to give each of them a donation of Rs.101/- from the Association
Fund:
The Krishnakumarsinghi School and Home for the Blind.
The Maharashtra State Anti Tuberculosis Association
The Bombay Dumb and Deaf Institution.
4. The applications dated 4-1-74 of Shri P.P. Dave of our staff for giving him
assistance towards the expenses for medical treatment of his wife during her
sickness and also to give him a loan of Rs.1300/- were considered and it was
resolved that as his wife expired after long sickenss, as a special exceptional
case, he should be given assistance of Rs. 1712/50 from “Seth K.R.P. Shroff
Stock Exchange Sarvajanik Fund”.
5. The application of our office sepoy Balkrishna Yeshwant dated 18-1-74 for giving
him a loan of Rs.1500/- was considered and it was resolved to give him a loan of
Rs.1,100/-.
6. The letter dated 4-1-74 of S/Shri Minoo Ardeshir karanjia, soli Ardeshir Karanjia
and Minoo Navroji Gandhi was read and it was noted that Shri Minoo Navroji
Gandhi had separated from the partnership firm of M/s Batliwala & Karani with
effect from 31-12-73.
7. The application dated 19-1-74 of m/s Devidas Jamnadas to give them extension
of time for filing an appeal against the decision of the Lower bench of the
Arbitration Committee in the dispute between Shri Yashwant N. Shah and M/s
Devidas Jamnadas was considered and it was resolved to give them an extension
of time for filing the appeal upto 31-1-74.
8. The application dated 28-12-73 of M/s Jamnadas Virji & sons to give them an
extension for filing an appeal against the decision of the Lower Bench of the
Arbitration Committee in the dispute between Shri Yashwant N. Shah and M/s
Jamnadas Virji & Sons was considered and it was resolved to give extension of
time for fiing the appeal upto 31-3-74.
9. The listing applications of the undermentioned companies were considered and it
was unanimously resolved to confirm admission of their respective securities to
our list of securities traded on the Exchange.
Paper & Pulp Conversions Ltd. New Equity.
Hindustan Wires Ltd. Bonus Equity
Camphor & Allied Products Ltd. Bonus Equity
The Ugar Sugar Works Ltd. Bonus Equity
10. The listing applications of the undermentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations as
well as compliance with the usual requirements and special requirements
stipulated by us their securities mentioned below against their names should be
admitted to our list of Non-Cleared Securities trading in those securities should
be done in the lots specified against them:
Venus Paper Mills Ltd. Equity 50 shares
Apollo Tubes Ltd. Equity 50 shares
Apollo Tubes Ltd. Preference 5 shares
Kirloskar Tractors Ltd. Equity 50 shares
Bright Wires Ltd. Equity 50 shares
Perfect Pack Ltd. Equity 50 shares
Raipur Wire & Steel Ltd. Equity 50 shares
Shree Proteins & foods Ltd. Equity 50 shares
Indian Aluminum Co.Ltd. New Ordinary 100 shares
11. In the matter of the appeal made by Handa Rotary Machines Ltd., to
Government in connection with listing of its shares, after discussion about the
letter written by Government on 8-1-74 a copy of which has been sent to us as
well as the letter of 15-1-74 written to us by government and having taken note
of the advise of our Counsel, it was resolved to write to government as under:
“A coy of the letter dated the 8th January addressed to the Appellate Authority
on behalf of Handa Rotary Machines Ltd., has been enforced to the Exchange
together with copies of the submissions referred to therein. The company has
also addressed to the Exchange a letter dated the 15th January forwarding
copies of the communication received by it from the Manager to the Issue viz.
Market Research & Development Council and from three of its underwriters viz.
Nav Bharat Investment, Ltd. Industrial Finance & Investment Corporation of
India and Market Research & Development Council.
The aforesaid letters and submissions were considered by the Governing board
at its meeting held today. The Governing Board has been advised that it is for
the Appellate Authority to decide the matter but the proposals and submissions
made in behalf of the Company appear to be such that for from inspiring any
confidence they produce the country affect.”
Sd/- Sd/- A. J. Shah Jayant Amerchand Secretary President
Date: 22-1-74
Tuesday, 29-1-74 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth A.R. Mahadevia Seth Phiroze J. Jeejeebhoy Seth Vasantlal Kantilal Seth Laldas Jamnadas Seth B.M. Gandhi Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Hiralal Girdharlal Seth N.C. Kampani Seth Vasantlal Jivatlal Seth Vasantlal Champaklal Seth J.R. Motishaw Seth B.N. Khandelwal Seth Ashokkumar G. Fozdar
Government Nominees Shri M.R. Mayya
Shri S. Rajagopalan The following business was transacted in the meeting: 1. Resolved that the undermentioned notices regarding ex-right and cum-right
transactions in the shares of the companies mentioned therein should be
confirmed:
1. The Standard Batteries Ltd. .. Notice No:141/74 dt. 22-1-74
2. The Great Eastern Shopping Co.Ltd. ..Notice No:160/74 dt.25-1-74.
2. Resolved that the Notice No:126/74 dt. 18-1-74 regarding continuation of
cum-right transactions in the shares of the Ahmedabad Electricity Co. Ltd.,
should be confirmed.
3. The application dated 15-1-74 of the near relatives of the late Shri Chhotalal
Vrajdas Dalal nominating Shri Krishnavadan Chhotalal Dalal as a member of
the Exchange in the place of the late Shri Chhotalal Vrajdas Dalal was
considered and after interviewing Shri Krishnavadan Chhotalal Dalal and his
recommenders Shri Vinaychandra Narbheram Parekh it was resolved by 13
votes in favour and none against to elect Shri Krishnavadan Chhotalal Dalal as
a member of the Exchange in the palce of the late Shri Chhotalal Vrajdas
Dalal, subject ot the Rules and Regulations of the Exchange.
4. The listing application of the Dharamsi Morarji Co.Ltd., was considered and it
was unanimously resolved to confirm listing of bonus equity shares of the
company on the Exchange.
5. The listing application of the Southern Nitro Chemicals Ltd., was considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations and compliance with the other requirements stipulated by us their
equity shares should be admitted to our list of Non-Cleared Securities and
dealings in those shares should be done in lots of 50 shares each.
6. The tenders for building the core of our new building received from M/s
Shapurji Palonji & Co., (Pvt) Ltd., and Engineering Construction Corporation
Ltd., were compared and evalutated for about Rs. 83 lakhs and 73 lakhs
respectively by our Architects M/s Architectural Research Unit and Structural
Consultants M/s Hadkar Prabhu and Associates. Approval was given for
accepting the tender of Engineering Construction Corporation Ltd.
Seth A. R. Mahadevia came and joined the meeting at this point of time.
7. The telegram received from Shri M.R. Mayya, Dy.Director, Stock Exchange
Division suggesting that the Stock Exchange should express their views about
the proposals made by Handa Rotary Machines Ltd., in its appeal to the
Government and the details of the decision made by the Calcutta Stock
Exchange in that matter listened. It was the common view of the Board that
for the present we do not have to do anything in that matter.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 2-2-74.
Saturday, 2-2-74 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 1.30pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Seth Phiroze J. Jeejeebhoy Seth B.M. Gandhi Seth Rasiklal Maneklal Seth B.N. Khandelwal Seth J.R. Motishaw Seth Ashokkumar G. Fozdar
Government Nominee Shri M.R. Mayya
The following business was transacted in the meeting: 1. The Government’s telegram dated 31-1-74 requiring to send our detailed
views in writing about the proposal made by Handa Rotary Mchines Ltd., in its
appeal to the Government was considered and it was unanimously resolved
that we should write to the Government accordingly to the draft prepared as
per the advice of our counsel in the matter.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 19-2-74
Tuesday,19-2-74
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Seth Phiroze J. Jeejeebhoy Seth B.M. Gandhi Seth Mathradas Samaldas Seth N.C. Kampani Seth Rasiklal Maneklal Seth B.N. Khandelwal Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Hiralal Girdharlal Seth Vasantlal Jivatlal
Government Nominees Shri M.R. Mayya
Shri S. Rajagopalan The following business was transacted in the meeting: 1. Resolved that the undermentioned notices regarding cum-right and ex-right
transactions in the shares of the companies mentioned therein should be
confirmed:
1. Colour Chem Ltd. Notice No: 200/74 dt. 31-1-74
2. Zandu Pharmaceuticals Ltd. Notice No: 201/74 dt. 31-1-74
3. Vidia India Ltd. Notice No: 224/74 dt. 5-274
4. Associated Bearings Co.Ltd. Notice No: 225/74 dt. 6-2-74
5. W.S. Insulators of India Ltd. Notice No: 243/74 dt.8-2-74
6. The Poddar Mills Ltd. Notice No: 250/74 dt.9-2-74
7. Hicks Thermometers (India)Ltd. Notice No:208/74 dt. 13-2-74
8. Bharat Bijali Ltd. Notice No: 301/74 dt.15-2-74
2. Resolved that the notices mentioned against the name of the
undermentioned companies regarding permission given to do business in
the Letters of Renunciation of their new shares are confirmed:
1. Kirloskar,Ghatge,Patel Auto Ltd. Notice No: 257/74 dt.11-2-74
2. Aditya Mills Ltd. Notice No: 261/74 dt.12-2-74
3. Southern Steel Ltd. Notice No: 318/74 dt.18-2-74
4. Jayant Paper Mills Ltd. Notice No: 319/74 dt.18-2-74
3. Resolved that the undermentioned notices are confirmed:
1. Notice No: 206/74 dt.1-2-74 to keep the market closed on Monday
4-2-74 as it is the Association Holiday of Moharam.
2. Notice No: 248/74 dt. 8-2-74 regarding keeping the market open
from 12 to 2 pm on Thursday as usual from now.
3. Notice No: 277/74 dt. 13-2-74 regarding keeping the market open
on Saturday 2-3-74 for doing business.
4. Notice No: 295/74 dt. 15-2-74 for not doing business in the shares of
Adarsh Chemicals and Fertilisers and Notice No:326/74 dt. 19-2-74
for resuming the business thereof.
4. Government’s letter dated 23-1-74 regarding appointment of Shri M.C.
Bhatt, Director, Ministry of Finance Department of Economic Affairs as a
Government Nominee on our Board in the place of Shri N.C. Maitra was read
and taken note of.
5. The application dated 29-1-74 of Shri S.M. Davda of our office for giving
assistance to him of the examination fee of Rs. 72/- of the first year of LLB
was considered and it was resolved to give him that assistance from Shri
M.C. Mohta Smarak Fund.
6. The application of our sweeper Bhagwandas Tiloo for giving him a loan of
Rs.2000/- for obtaining residential accommodation was considered and it
was resolved to give him a loan of Rs. 1000/-.
7. The application dated 9-2-74 of S/Shri Valji Bhimji Jesrani and Dinesh Valji
Jesrani for partnership between them was considered and it was considered
and it was resolved to approve the partnership under the name of M/s Valji
Bhimji & Co., with effect from 1-2-74.
8. The letters dated 30-1-74 of M/s Jadovji Virji Desai and Shri Gordhandas
Bhagwandas were considered and it was resolved to confirm the permission
given to Shri Gordhandas Bhagwandas as a Representative Member of M/s
Jadovji Virji.
9. The letters dated 25-1-74 of S/Shri Shivdas Thakersi and Jayantilal
Jeshinglal for registering the claim of Rs.25000/- Shri Jayantilal Jesinglal
against the membership right of Shri Shivdas Thakarsi were considered and
the matter was postponed.
10. Resolved that Thursday, 21-3-74 should be fixed as the day for election of
the Governing Board for the year 1974-75.
11. The application dated 24-11-73 of the near relatives of the late Shri
Gulabchand M.Shah nominating Shri Sumantrai Gulabchand Shah as a
member of the Exchange in the place of the late Shri Gulabchand Shah was
considered and after interviewing Shri Sumantrai Gulabchand Shah and his
recommenders S/Shri V.K. Nanavati and Dipchand L.Taswala it was resolved
by 11 votes in favour and none against to elect Shri Sumantrai Gulabchand
Shah as a member of the Exchange in the place of the late Shri Gulabchand
M. Shah subject to the Rules and Regulations of the Exchange.
12. The application dated 6-2-74 of Shri Jagmohan Jhunjhunwala nominating
Shri Sham Chunilal Navander as a member of the Exchange in his own place
was considered and after interviewing Shri Shyam Chunilal Navander and
his recommenders S/Shri Chandratandas Bagri and D.K. Chowdhary it was
resolved by 10 votes in favour and 1 against to elect Shri Shyam Chunilal
Navander as a member of the Exchange in the place of Shri Jagmohandas
Jhunjhunwala on the condition that within one month he should end his
partnership in M/s Tak Construction and M/s Steel Products and should not
do business in the market in his own name until 15-11-75.
13. The application dated 8-1-74 of Shri Madhukar Atmaram Pandit nominating
Shri Basudev Hanumantprasad Pasari as a member of the Exchange in his
own place was considered and after interviewing Shri Basudev
Hanumantprasad Pasari and his recommenders S/Shri M.M. Loyalka and
Arvind Chimanlal Dalal it was resolved by 11 votes in favour and none
against to elect Shri Basudev Hanumantprasad Pasari as a member of the
Exchange in the place of Shri Madhukar Atmaram Pandit subject to the
Rules and Regulations of the Exchange.
14. It was noted that the Engineering Construction Corporation Ltd., has taken
over the work of the new building in its own hands by mutual arrangement
with M/s Shapoorji Palonji and Co. (Pvt)Ltd. It was resolved that the offer of
Engineering Construction Corporation Ltd., to the abovementioned work
after making suitable changes in the rates for construction of the remaining
super structure mentioned in the work order dated 11-2-74 in respect of
their tender for the core of the new building should be accepted and the
work should be given to them. Further, it was noted that tenders for
plumbing work, electricity work and lifts have been issued.
15. Government’s letter dated 28-1-74 regarding underwriting was read and
noted.
16. The letter dated 12-1-74 of Shri Jivanlal Motilal requesting to sell the
membership right of the late Shri Bhaidas Gulabchand and to give its sale
proceeds to Shri Jivanlal Motilal and his brothers Shri Ranjitlal Motilal was
considered and it was resolved that subject to the approval of the General
Body, the membership right of the late Shri Bhaichand Gulabchand should
be sold and the sale proceeds should be distributed in equal shares between
S/Shri Jivanlal Motilal and Ranjitlal Motilal.
17. The listing application of Hindustan Sugar Mills Ltd., was considered and it
was unanimously resolved to confirm the admission of its bonus shares to
our list of securities traded on the Exchange.
18. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations and compliance with the other special requirements stipulated
by us the undermentioned securities should be included in our list of Non-
Cleared Securities and dealings therein should be made in the lots noted
against them:
Whitco Ltd. Equity 50 shares
Whitco Ltd. Preference 5 shares
Bhoruka Finance Co. Equity 50 shares
Tirpene Industries Ltd. Equity 50 shares
Ipco Packaging Ltd. Equity 50 shares
Gaugavate Sugars Ltd. Equity 50 shares
Gaugavate Sugars Ltd. Preference 5 shares
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 15-3-74.
Friday,15-3-74
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Seth Phiroze J. Jeejeebhoy Seth B.M. Gandhi Seth Mathradas Samaldas Seth B.N. Khandelwal Seth Rasiklal Maneklal Seth Navinchandra C. Kampani Seth Jasvantlal Chhotalal Seth Vasantlal Champaklal Seth J.R. Motishaw Seth Ashokkumar G. Fozdar
Government Nominees Shri M.C. Bhatt Shri M.R. Mayya
The following business was transacted in the meeting: 1. At the start of the meeting, the President welcomed Shri M.C. Bhatt and
introduced him to the members of the Board.
2. Resolved that the notices mentioned against the names of the
undermentioned companies regarding cum-right and ex-right transactions in
their shares should be confirmed:
1. Everest Refrigerants Ltd. Notice No: 336/74 dt. 20-2-74
2. Premier Tyres Ltd. Notice No: 358/74 dt. 22-2-74
3. Modi Spg. & Wvg., Mills Co.Ltd Notice No: 407/74 dt. 2-3-74
4. The Travancore Electro Chemical Industries Ltd. Notice No:412/74
dt. 4-3-74
5. Adarsha Chemicals & Fertilisers Ltd. Notice No: 468/74 dt. 13-3-74
3. Resolved that the notices mentioned against the names of the
undermentioned companies regarding permission given for dealing in Letters
of Renunciation of their new shares are confirmed:
1. The Standard Batteries Ltd. Notice No: 375/74 dt.26-2-74
2. Zandu pharmaceutical Works Ltd. Notice No: 382/74 dt.27-2-74
3. Vidia India Ltd. Notice No: 397/74 dt.1-3-74
4. Resolved that the undermentioned notices are confirmed:
1. Notice No: 385/74 dt.27-2-74 regarding continuation of cum-
dividend transaction in the shares of the Phalton Sugar Works Ltd.,
and Notice No: 438/74 dated 9-3-74 regarding making the
transactions ex-dividend in those shares.
2. Notice No: 396/74 dated 1-3-74 regarding permissibility of delivery
of bonus equity shares of the Maharashtra Sugar Mills Ltd., against
its old equity shares.
3. Notice No: 413/74 dt. 13-2-74 regarding permission given for
dealing in coupons of the bonus equity shares of Jayant Paper Mills
Ltd.
5. The applications fro help of the undermentioned institutions were considered
and it was resolved to give each of them a donation of Rs.1010/- from the
Association Fund.
6. The letter dated 4-3-74 of S/Shri Jehangir Dorabji Kurana and Bomi Erach
Chesson regarding separation of Bomi Chesson from the partnership firm of
M/s Dorabji Framji was read and taken note of.
7. The application dated 13-3-74 of S/Shri Durgashankar Udayram Shukla,
Pravinchandra Durgashankar Shukla and Maheshkumar Durgashankar
Shukla for partnership amongst them was read and it was resolved to
approve their partnership under the firm name of M/s D.V. Shukla.
8. The application dated 13-3-74 of Bai Manorama Pandurang, widow of our
late sepoy pandurang G. Kurup for giving here help for the expensies for
medical treatment of the late Pandurang G. Kurup during his sickness and
the expenses for post death ceremonies was considered and it was resolved
that over and above the help of Rs.300/- given earlier in that respect an
additional help of Rs.100/- should be given from Seth K.R.P.Shroff Stock
Exchange Sarvajanik Fund.
9. The applications for loans of the undermentioned persons of our office staff
was considered and it was resolved to give each of them a loan of the
amount mentioned against his name below:
Shri A.B. Desai Rs.1000/-
Watchman Jitsingh Padamsingh Rs. 1500/-
Sepoy Balkrishna Shinde Rs. 700/-
10. The letter dated 14-3-74 of S/Shri Ram U. Advani, Sunder U. Advani and
Inder U. Advani were considered and it was resolved to give permission to
Shri Ram U. Advani to continue the business of late Shri B.U. Advani for a
period of three months.
11. The letter dated 9-3-74 of Shri Shirish Dave was read and it was resolved to
give him permission to continue the business of late Shri Chimanlal Maneklal
Dave for a period of 3 months.
12. The application of Shri Chimanlal Maneklal Dave dated 10-11-73 nominating
Shri Shirish Chimanlal Dave as a member of the Exchange in his own place
was considered and after interviewing Shri Shirish Chimanlal Dave and his
recommenders S/Shri Prabhudas Liladher and Nagindas Pranjivandas it was
resolved by 12 votes in favour and none against to elect Shri Shirish
Chimanlal Dave as a member of the Exchange in the place of Shri Chimalal
Maneklal Dave, subject to the Rules and bye-laws of the Exchange.
13. RESOLVED THAT subject to the approval of the Central Government the
following amendments be and are hereby made in the Rules contained in
the Stock Exchange Rules, Bye-laws and Regulations, 1957.
In Rule 93(a), after the words “investment of Trust funds”, the words “or
with the permission of the Central Government in Equity or Preference
shares of any joint stock company” shall be added. In clause (v) of Rule 121
after the words “investment of trust funds” the words “or with the
permission of the Central Government in Equity or preference shares of any
joint stock company” shall be added.
14. Government letter dated 28-1-74 relating to the matter of appointment of
Issue Managers and underwriters and the letter dated 11-3-74 of Enamelled
Wires Ltd., regarding appointment of DEL Finance Corporation which is
prepared to give a bank guarantee were considered and it was decided that
apart from the public financial institutions, banks, and members of
recognised Stock Exchanges, only such investment companies and trusts
which are listed as also Investment Corporation of India, Industrial
Investment Trust and others like them which may be approved by the
Chairman, experienced and financially sound should be given permission for
appointment as underwriters.
15. Government’s letter dated 19-1-74 regarding listing of equity shares allotted
to Public Financial Institutions in lieu of loan/bonds/ debentures was
considered. It is desirable to offer 60% of such convertible bonds and
debentures to public. But, as such shares are being issued according to the
Government guidelines it was resolved to write to the Government that if
they desire, there will be no objection in considering such shares eligible for
listing by waiving listing requirements on condition that 25-30% of such
shares are offered to the public by public offer at the same price at which
they have been issued.
16. The listing applications of the undermentioned were considered and it was
unanimously resolved to confirm admission of their respective securities
mentioned against their names to the list of securities traded on the
Exchange:
Sandwic Asia Ltd. Bonus Equity
Gokak Patel Walcart Ltd. 36545 new equity shares allotted to shareholders
of Gokak Patel Walcart Ltd.
Modella Woollens Ltd. Bonus Equity
J.K.Synthetics Ltd. Bonus Equity
Jayshree Tea & Industries Ltd. Bonus equity
Andhra Steel Corporation Ltd. New equity.
17. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations and compliance with the usual requirements and other special
requirements stipulated by us their securities mentioned against their
respective names should be admitted to our list of Non-cleared securities list
traded on the Exchange and their transactions should be made in the lots
specified against them:
Bata India Ltd. Equity 50 shares
Haryana Steel & Alloys Ltd. Equity 50 shares
Haryana Steel & Alloys Ltd. Preference 5 shares
Sadhana Nitro Chemicals Ltd. Equity 50 shares
Sadhana Nitro Chemicals Ltd. Preference 5 shares
The State Industrial and Investment Corporation of Maharashtra Ltd. – 6%
bonds 1986 (a series) Rs.1000/-.
18. The letter dated 19-2-74 of the Suplex Mills Co.Ltd., was read and it was
unanimously resolved that the 61/2% of 1969-74 debentures should be
removed from our list of securities traded on the Exchange as they are
being redeemed.
19. Resolved that S/Shri jayantilal Mansukhlal, Champaklal Balubhai Mafrfatia
and Nagindas Trambaklal Parekh should be appointed as scrutineers for
scrutinise of the ballot papers and declaring the result of the election of the
Governing Board for the year 1974-75.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 25-4-74.
Thursday, 25-04-1974
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Mathuradas Samaldas in the beginning and thereafter under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Seth Phiroze J. Jeejeebhoy Seth B.M. Gandhi Seth Mathradas Samaldas Seth B.N. Khandelwal Seth Rasiklal Maneklal Seth Navinchandra C. Kampani Seth Jasvantlal Chhotalal Seth Vasantlal Champaklal Seth J.R. Motishaw Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Chotalal Devchand Seth Purshottam Gopiram Ruiya
Government Nominees Shri. M.C. Bhatt Shri. M.R. Mayya
Shri. S. Rajgopalan
The following business was transacted in the meeting:
1. Proposed by Seth Jayant Amerchand and seconded by Seth Rasiklal
Maneklal, Seth Mathradas Samaldas was unanimously elected as the
Chairman of today’s meeting
2. Proposed by Seth Mathradas Samaldas and supported by Seth Rasiklal
Maneklal, Seth Jayant Amerchand was unanimously elected as the
President. Seth Jayant Amerchand thanked all the members of the Board
for having reposed their faith in him. He congratulated Seth Purshottam
Gopiram Ruiya for being elected to the Board and welcomed him
expressing a sense of gratitude for the support and co-operation extended
by all the members of the Board and Government nominees last year, He
expressed the hope that during the current year also they will continue to
give support and co-operation in the same way.
3. Proposed by Seth Rasiklal Maneklal and supported by Seth Purshottam
Gopiram Ruiya, it was unanimously resolved to elect Shri Mathradas
Samaldas as the Vice President
4. Proposed by Seth Rasiklal Maneklal and supported by Seth J.R. Motishaw, it
was unanimously resolved to elect Seth Vasantlal Champaklal as the Hon.
Treasurer
5. Resolved that Sir Shapurji Broadia, Brokers Helping Fund Committee be
appointed consisting of Seth J.R. Motishaw, Seth Mathradas Samaldas,
Seth Vasantlal Champaklal and Dhirajlal Manganlal
6. Resolved that the undermentioned persons be appointed as members of
the Arbitration Committee for the year 1974-75
Shri. Keki N. Chinoy Shri. S. M. Shah
Shri Jayantilal M. Dalal Shri. Nagindas Trambuklal
Shri. Champaklal Babubhai Marfatia Shri. V. K. Nanavate
Shri. M. L. Kaji Shri. Jayendra D. Mehta
Shri. L.N. Kapadia Shri. H. N. Sonawala
Shri. D.U. Shukla Shri. Rasiklal S. Jhaveri
Shri. Hariram Dwarkadas Shri. Govindbhai B. Amin
Shri. Bhgubhai Amithalal Gandhi Shri. Jitendra Champklal
Mashruwala
At this point of time Shri. B.M. Gandhi arrived and joined the meeting
7. Resolved that the Defaulter Committee for the year 1974-75 should be
appointed consisting of the undermentioned members
Shri. J. R. Motishaw Shri. Keti N. Chinoy
Shri. Vasantilal Champaklal Shri. Jayantilal Mansuklal Dalal
Shri. Vasantlal Kantilal Shah Shri. Rasiklal S. Jhaveri
8. Resolved to appoint the Building Committee consisting of the
undermentioned members
Shri. Mathurdas Samaldas Shri. Jaswantilal Chhotalal
Shri. J. R. Motishaw Shri. Govardhandas Bhagwandas
Shri. Laldas Yamunadas Shri. Dhirajlal Maganlal
Shri. Rasiklal Maniklal Shri. Vasantlal Kantilal Shah
9. Resolved that cheque be signed by the President Shri Jayant Amerchand of
the Chirman Shri P. J. Jeejeebhoy, or the Vice President Shri Mathradas
Samaldas, or thr Hon. Treasurer Shri Vasantlal Champaklal and any one of
the following seven members of the Governing Board namely Shri Rasiklal
Maneklal, Shri Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri
B. M. Gandhi, Shri Vasantlal Kantilal Shah , Shri Jasvantlal Chhoatalal and
Shri A. R. Mahadevia and be countersigned by the Secretary Shri A. J.
Shah.
10. Resolved that the various Current Accounts and Safe Custody Accounts of
the Exchange with Bank of India be operated on jointly by the President,
Shri Jayant Amerchand, of the Chairman Shri P. J. Jeejeebhoy, or the Vice
President Shri Mathradas Samaldas, or of the Hon. Treasurer Vasantlal
Champaklal and by any one of the following seven members of the
Governing Board, namely Shri Rasiklal Maniklal, Shri Navinchandra C.
Kampani, Shri Hiralal Girdharial, Shri B. M. Gandhi, Shri Vasantlal Kantilal
Shah, Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be
countersigned by the Secretary Shri A. J. Shah
11. Resolved that the Current Accounts and Safe Custody Accounts with Bank
of India in the name of the Stock Exchange Sroff Provident Fund and The
Stock Exchange Shroff Gratuity Fund be operated on either by any two of
the Trustees of the Exchange for the time being or the survivors or survivor
of them or jointly by the Hon Treasurer, Vasantlal Champaklal and any one
of the following seven members of the Governing Board, namely, Shri
Rasiklal Maniklal, Shri Navinchandra C. Kampani, Shri. Hiralal Girdharlal,
Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah, Shri Jasvant Chhotalal, and
Shri A. R. Mahadevia and be countersigned by the Secretary Shri A. J.
Shah.
12. It was noted that the Electronic Equipment purchased from Electronic
Corporation of India Ltd. at a price of approximately Rs. 15 Lakhs has
arrived and resolved that a loan should be taken from Bank of India in that
connection and needful should be done
13. Resolved that the notices regarding cum-right and Ex-right transactions in
the shares of the Companies mentioned below against their names should
be confirmed:
1. Hindustan Wires Ltd.- Notice No. 530/74 dated 19-3-1974
2. T. Maneklal Manufacturing Co. Ltd. – Notice No. 606/74 dated 28-3-
1974
3. Chougule Steamship Ltd. – Notice No. 700/74 dated 11-04-1974
4. Sardedai Brothers Ltd. – Notice No. 738/74 dated 18-04-1974
5. First (India) Steel Co. Ltd. Notice No. 761/74 dated 22-04-1974
14. Resolved that the Notices regarding deliverability of the new shares of the
Companies against their old shares mentioned against their names below
should be confirmed:
1. Silvania & Laxman Ltd. – Notice No. 568/74 dated 25-03-1974
2. Bilaspur Spg. Mills and Industries Ltd. – Notice No. 607/74 dated
28-03-1974
3. Somani Steels Ltd. – Notice No. 623/74 dated 30-03-1974
4. Mirch Merey Ltd. – Notice No. 731/74 dated 17-04-1974
5. Swan Mills Ltd. – Notice No. 766/74 dated 23-04-1974
15. Resolved that the notices giving permission to deal in letters of
renunciation of their new shares of the Companies mentioned against their
names below should be confirmed:
1. Everest Refrigerator Ltd. – Notice No. 488/74 dated 16-03-1974
2. Asian Electronics Ltd. – Notice No. 494/74 dated 16-03-1974
3. W. S. Insulators of India Ltd. – Notice No. 528/74 dated 19-03- 1974
4. The Travancore Electro-Chemicals Industries Ltd. – Notice No. 637/74
dated 01-04-1974
5. Heiks Thermometers India Ltd. – Notice No. 664/74 dated 05-04- 1974
6. Adarsh Chemicals Fertilisers Ltd. – Notice No. 736/74 dated 18-04-
1974
16. Resolved to confirm the undermentioned notices:
1. The Notice No. 715/74 dated 15-04-1974 regarding making of the
transaction in the shares of the Ahmedabad Electricity Co. Ltd. Ex-dividend
from 26-04-1974
2. The Notice No. 726/74 dated 26-04-1974 for not doing transaction in
the shares of Haryana Coated Papers Ltd.
17. Resolved that the arrangements regarding, the conditions relating to the
BEST Electric Sub- station for our new building and giving on lease the
required space should be approved and whatever else needful is required
to be done should be done.
18. It was resolved as under regarding the tender for the working of our new
building:
A) Plumbing: From the tenders of Bombay & Co. for approximately
Rs. 17,07,000/- and from M/s. Nipa Sanitation of approximately Rs.
16,62,000/-, the tenders of M/s. Bombay & Co. has been accepted
which should be approved
B) Electric Installation: From the tenders of M/s. Shah Electric Co. of
approx Rs. 22, 76, 000/- and of Engineering Construction Co. of
approx Rs. 24,57,000/-, the tender of M/s. Shah Electric Company
has been accepted which should be approved.
C) Lifts: The tender of M/s. Otis Elevators Co. (India) Ltd. Of approx
Rs. 45,31,000/- for eight lifts should be accepted.
19. The application for help of Shipoxi Sikshan Prasarak Mandal was considered
and it was resolved to give it a donation of Rs. 251/- from the Stock
Exchange Education and Research Services
20. The application dated 27-03-1974 of Shri. T.G. Babu of our office for giving
him assistance towards the medical expenses incurred by him during his
sickness was considered and it was resolved to give him help of Rs. 400/-
from the “ Seth KRP Shroff Stock Exchange Sarvajanik Fund”
21. The application for loans of the undermentioned persons of our office staff
were considered and it was resolved to give each of them a loan of the
amount mentioned against his names:
Shri. S.M. Davda Rs. 2,000/-
Shri V. T. Manjrekar Rs. 2,000/-
Shri. M. K. Shivraman Rs. 1,000/-
Sepoy Vijay Narayan Rs. 500/-
Sepoy Madhukar Bhiwa Rs. 1,500/-
Bhat Chhogaram Gangaram Rs. 200/-
22. The application dated 19-04-1974 of Shri. K. Ambujakshana for giving him
assistance of the fees of Rs. 300/- for the Punch Operating Course of
Davar’s College of Commerce was considered and it was resolved to give
him that much amount from Shri. M.C. Mehta Smarak Fund
23. The application of M/s. Narendradas and Sons for giving them extension of
time for filing an appeal against the decision of the lower bench of the
Arbitration Committee in the dispute between M/s. Chimanlal Mohanlal and
M/s. Narandas & Sons was considered and it was resolved to give them an
extension of time upto 04-05-1974 for filing the appeal.
24. The letter dated 01-04-1974 of Shri. Purshottam Mahavir Prasad Rungta
and Satyanarayan Bhuramal was read and it was noted that Shri.
Satyanarayan Bhuramal had separated form the firm of M/s. Mahavir
Prasad Badridas with effect form 30-03-1974
25. The undermentioned partnership were approved:
Name of the Partnership Firm
Name of Partners Date of Partnership
M/s. D. A. Shah & Sons
1. Shri. Dolatrai Amratlal Shah 2. Shri. Pankaj Dolatrai Shah
01-04- 1974
M/s. Natwarlal & Sons 1. Shri. Prabvinchandra Natwarlal 2. Shri. Navinchandra Natwarlal
01-04- 1974
26.
The letter dated 26-03-1974 of Shri. Dipchand L. Tasvala and M/s. G.M.
Shah were read and it was resolved to confirm the permission given to M/s.
G.M. Shah to do business as a representative member of Shri. Dipchand L.
Tasvala
27. Bai Taramati Bhaichand and Shri. Chandravadan Bhaichand Muchhala and
Ajit Bhaichand Muchhala’s letter dated 22-04-1974 was considered and it
was resolved to give permission to Shri. Chandravadan Bhaichand and Ajit
Bhaichand to continue the business of the late Shri. Bhaichand Juiraj
Muchhala for a period of three months.
28. The letter dated 19-03-1974 of Shri. Dinesh Valji was read and it was
resolved to give him permission to continue the business of M/s. Valji
Bhimji for a period of three months
29. The application dated 14-03-1974 of Shri. Lalitkumar Ramanbhai Sheth
nominating Shri. Manharlal Ramanlal Balubhai Parekh as a member of the
Exchange in his own place was considered and after interviewing Shri.
Manharlal Balubhai Parekh and his recomders Shri Angiras Bhogilal Mehta
and Govindbhai B. Desai it was resolved by 13 votes in favour and none
against to elect elect Shri. Manharlal Balubhai Parekh as a member of the
Exchange, subject to the Rules, Bye Laws and Regulation of the Exchange.
30. The application dated 28-03-1974 of the near relative of late Shri. Valji
Bhimji nominating Shri. Dinesh Valji as a member of the Exchange in the
place of the Late. Shri Valji Bhimji was considered and after interviewing
Shri. Dinesh Valji and his recommenders Shri. K. Kheswala and Manek H.P.
Byramji it was resolved by 9 votes in favour and 4 against to elect Shri.
Dinesh Valji Jeshram as a member of the Exchange in the place of the Late
Shri. Valji Bhimji Jeshram, subject to the Rules and Regulations of the
Exchange on the condition that he should not do business in the market in
his own name and even thereafter he should not do business in the market
in his own name without obtaining prior permission of the board.
31 The application dated 06-03-1974 of the near relatives of the Late Shri.
Vithaldas Pitambar nominating Shri. Pravinchadra Vithaldas as a member
of the Exchange in the place of the Late Shri. Vithaldas Pitambar was
considered and after interviewing Shri. Pavinchandra Vithaldas and his
recommenders Shri. N.C. Lodhiwala and Vinay Chandra Narbheram Parekh
it was resolved by 12 votes in favour and 1 against to elect Shri.
Pravinchadra Vittaldas as a members of the Exchange in the place of the
Late Shri. Vithalda Pitamber, subject to the Rules and Regulations of the
Exchange on the condition that he will not do business in the market in his
own name without obtaining the permission of the Board.
At this point of time Shri. Mathurdas Samaldas left the meeting.
32. The application of the near relative of the Late Shri. Sagarmal R. Loyalka
nominating Shri. Purshottam S. Loyalka as a member of the Exchange in
the place of the Late Shri. Sagarmal R. Loyalka was considered and after
interviewing Shri. Purshottam S. Loyalka and his recommenders Shri. B.P.
Rungta and Shri. G.D. Bagre it was resolved by 11 votes in favour and 1
against to elect Shri. Purshottam S. Loyalka as a member of the Exchange
in the place of the Late Shri. Sargarmal R. Loyaka subject to the Rules and
Regulations of the Exchange.
33. The letter dated 25-01-1974 of Shri. Jayantilal Jeshinglal and the letters
dated 25-01-1974 and 11-01-1974 of Shri. Shivdas Thakarsi were
considered and it was resolved to note the claim of Rs. 15,000/- of Shri.
Jaynatilal Jeshihglal against the membership right of Shri. Shivdas Thakarsi
34. The Letters dated 14-03-1974 and 10-04-1974 of the United Commercial
Bank Ltd. And the National Newsprint and Paper Mills Ltd. Respectively
were considered and it was unanimously resolved to remove their shares
from our list of securities traded on the Exchange as they do not wish to
continue their shares in our list of securities traded on the Exchange.
35. The listing applications of the undermentioned Companies were considered
and it was unanimously resolved to confirm listing of their below mentioned
securities for trading on our Stock Exchange:
The Ahmedabad Advance Mills Ltd. New Equity
Jayant Paper Mills Ltd. Bonus Equity
Raymond Woollen Mills Ltd. Bonus Equity
Rallis India Ltd. 93,000 New Equity shares allotted to the shareholders of Tata Fison Industries Ltd.
36. The listing application of the undermentioned Companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirement stipulated by us, their below mentioned securities
should be admitted to our list of Non Cleared Securities and transactions in
these securities should be done in the lots mentioned against them.
Oriental Hotels Ltd. Equity 50 Shares
Oriental Hotels Ltd. Preference 5 Shares
Enamelled Wires Ltd. Equity 50 Shares
Gujarat Mines Steel Ltd. Equity 50 Shares
Ram Keshav ispat Ltd. Equity 50 Shares
Trade Wings Ltd. Equity 50 Shares
Deccan Farms and Distillers
Ltd.
Equity 50 Shares
Milk Food Ltd. Equity 50 Shares
Hess Ltd. Equity 50 Shares
Dynamatic Hydrolics Ltd. Equity 50 Shares
City 2 Industrial Development 7.25 % Debentures Rs. 1000/-
Corporation of Maharashtra Ltd.
1989
Maharashtra Holeship Board 6% Debentures 1984
and 1985
Rs. 1000/-
Andhra Valley Power Supply Co. Ltd.
8 ½ % 5th Debentures Rs. 1000/-
The Tata Hydro Electric Power Supply Co. Ltd.
8 ½ % 4th Debentures Rs. 1000/-
Tata Powers Company Ltd. 8 ½ % 6th Debentures Rs. 1000/-
37.
“Resolved that the following amendments be made in Appendix B to
Regulation 2 of the Stock Exchange Rules, Bye-laws and Regulations,
1957:
In sub-clause ( c) of clause 3 for the words “renewal or exchange”, the
words “renewal, exchange or endorsement of calls” shall be substituted;
and after the words “Pucca Transfer Receipts”, the words “in denominations
corresponding to the market units of trading” shall be added.
In clause 4 in sub-clause (c ), for the words “Consolidation, Renewal and
Pucca Transfer Receipts”, the words “Consolidation and Renewal Receipts”
shall be substituted; and for sub-clause (e), the following shall be
substituted, namely:
“(e) to issue call notices and splits and duplicates thereof in a standard
form acceptable to the Exchange, to forward a supply of the same promptly
to the Exchange for meeting requests for blank split and duplicate call
notices, to make arrangements for accepting call moneys at all centres
where there are recognised stock exchanges and not to requires any
discharge on call receipts”
In sub-clause (d) of clause 31, for the full stop at the end, a semi-colon
shall be substituted; and after the said sub-clause (d), the following new
sub-clause (e) shall be inserted, namely:
“(e) three copies of all notices, circulars, etc. issued or advertised in the
press either by the Company, or by any company which the Company
proposes to absorb or with which the Company proposes to merge or
amalgamate, or under orders of the Court or any other statutory authority
in connection with any merger, amalgamation, re-construction, scheme or
arrangement, including notices, circulars, etc. issued or advertised in the
press in regard to meetings of shareholders or debenture holders or
creditors or any class of them and copies of the proceedings at all such
meetings.”
For Schedule II, the following shall be substituted, namely:
“Schedule of Listing Fees”
1.INITIAL LISTING FEE … Rs.1,000
2. ANNUAL LISTING FEE :
Companies on the Cleared Securities List … Rs. 3,000
Other Companies with paid-up shares and/or debenture capital
Under Rs. 10 lakhs … Rs. 300
From Rs.10 lakhs but under Rs. 25 lakhs … Rs. 500
From Rs. 25 lakhs but under Rs. 50 lakhs … Rs.1000
From Rs. 50 lakhs but under Rs. 1 crore … Rs. 1500
From Rs. 1 crore but under Rs. 5 crores … Rs.2500
Rs. 5 crores and over …. Rs.3000”
38. Resolved that a Notice should be issued as under:
1) “ As directed by the Governing Board all the members of the
Exchange are hereby informed that if any company has declared in
the Prospectus that it will make an application to our Exchange for
listing, then so long as the shares of such company are not listed on
our Exchange members cannot do business in the shares of that
Company in the market among themselves, even though permission
might have been given to do business in those shares on any other
stock exchange.
2) If any Company has made a declaration on its Prospectus about
making a listing application on any other Stock Exchange and not
ours, then members will be free to do business in such shares only
after they are listed on that Exchange and no transactions in such
shares should be made prior to that.
3) Members are specially warned that if any member is hereafter found
to have done business in new shares otherwise than as above he
will be liable to severe punishment”
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President
Dt: 2-7-74
Tuesday, 2-7-1974
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Jivanlal Seth B.M. Gandhi Seth Vasantlal Kantilal Shah Seth Chotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Purshottam Gopiram Ruiya
Government Nominees Shri. M.C. Bhatt Shri. M.R. Mayya
Shri. S. Rajgopalan
The following business was transacted in the meeting: 1. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding cum-right and Ex-right transactions
in their shares are confirmed:
1. Unicorn Tyres Ltd. Notice No. 841/74 dated 30-04-74
2. Warver Hindustan Ltd. Notice No. 849/74 dated 02-05-74
3. Indo-Burma Petroleum Co. Ltd. Notice No. 851/74 dated 04-05-74
4. J.L. Morison Son and Jones (India) Ltd. Notice No. 864/74 dated 04-05-74
5. Century India Ltd. Notice No. 910/74 dated 11-05-74
6. Modi Rubber Ltd. Notice No. 980/74 dated 20-05-74
7. Dalmia Cement (Bharat) Ltd. Notice No. 988/74 dated 21-05-74
8. Automobile Products of India Ltd. Notice No. 1020/74 dated 24-05-74
9. Crompton Greaves Ltd. Notice No. 1038/74 dated 27-05-74
10. The Tata Mills Ltd. Notice No. 1188/74 dated 19.08.74
11. Navsari Cotton and Silk Mills Ltd. Notice No. 1204/74 dated 21-06-74
12. I.T.C. Ltd. Notice No. 1225/74 dated 25-06-74
2. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding deliverability of their new shares
against old shares are confirmed:
1. The Jaybharat Credit and Investment
Co. Ltd.
Notice No. 852/74 dated 4-
05-74
2. Kamani Engineering Corporation Ltd. Notice No. 923/74 dated 13-
05-74
3. Andhra Steel Corporation Ltd. Notice No. 961/74 dated 17-
08-74
4. The Bharat Rayon Corporation Ltd. Notice No. 1010/74 dated
23-05-74
5. Ahmedabad Advance Mills Ltd. Notice No. 1112/74 dated
07-06-74
3. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding the permission given for dealing in
letters of Renunciation and confirms of the new shares are confirmed.
1. Unicorn Tyres Ltd. Notice No. 1135/74 dated 11-06-74
2. J. L. Morison, sons and
Jhones (India) Ltd.
Notice No. 1148/74 dated 14-06-74
4. Resolved that the notices mentioned against the names of the
undermentioned companies regarding permission given for dealing in
coupons of their bonus shares are confirmed:
1. Bharat Bijlee Ltd. Notice No. 814/74 dated 27-04-74
2. T. Maneklal Manufacturing
Co. Ltd.
Notice No. 974/74 dated 18-05-74
5. The application for help of India Red Cross Society dated 03-06-74 was
considered and it was resolved to give it an assistance of Rs. 101 from the
Association Fund.
6. The application dated 19-04-74 of Sarvodaya Arogya Nidhi for giving help to
“Shri. Maneklal Nathalal Vakharia Sarvodaya Arya Hospital” was considered
and it was resolved to give help of Rs. 5,000/- for that from Sheth K.R. P.
Shroff Stock Exchange Sarvajanik Fund.
7. The application dated 07-06-74 of our Chief Statistical Officer to give him a
loan of Rs. 18,000/- for purchasing a Motor Car was considered and it was
resolved to give him the said loan.
8. The appliacation dated 6-6-74 of our sweeper Kharecha Dhureram was
considered and it was resolved to give him a loan of Rs. 1,400/-
9. The application dated 30-04-1974 of Shri N.M. Ali for giving him an
assistance of Rs. 300/- for doing a fund operating course was considered
and it was resolved to give him an assistance of that amount from M.C.
Mehta Smarak Fund.
10. The application dated 19-06-74 of Bai Manorama Pandurang Kurup, widow
of our late sepoy Shri Pandurang Gopal Kurup was considered and it was
resolved to pay her the amount of Rs. 6,804/56 accumulated in the
Provident Fund of Sepoy Pandurang Gopal Kurup and the amount of the
gratuity of Rs. 6,850/-
11. The letter dated 24-05-74 of S/Shri Laxmidas Thakar Kothari and Kaushik
Laxmidas Kothari was considered and it was noted that Shri kaushik
Laxmidas Kotahri had separated from the partnership firm of M/s. Kothari &
Co.
12. The application dated 24-06-74 for a partnership between S/Shri
Tribhuvandas Mulchand Gandhi and Dhanesh Tribhuvandas Gandhi was
considered and it was resolved to approve their partnership under the firm
name of M/s. Tribhovandas M. Gandhi with effect from 01-06-74
13. The letter of the undermentioned members were read and it was resolved to
confirm the permission given to them to do business as Representative
Members:
Nominating Members Representative Members
M/s. Narbheram Harakchand Shri Pravinchnadra Vithaldas
M/s. Lewis & Jones M/s. Valji Bhimji & Co.
14. The application dated 18-05-74 of M/s. Mohanlal Nagardas & Co. for giving
them extension of time for filing an appeal against the decision of the lower
bench of Arbitration Committee in the dispute between M/s. Chimanlal
Maneklal Dave and M/s. Mohanlal Nagardas & Co. was considered and it was
resolved to give M/s. Mohanlal Nagrdas & Co. time upto 10-07-74 for filing
an appeal in that matter
15. The letter dated 27-5-74 of S/shri Ram V Advani was considered and it was
resolved to give Shri Ram V. Advani two months more time for continuing
the business of Late Shri B. V. Advani
16. The letter dated 26-3-74 of Shri Vinitkumar P. Parikh asking for permission
to do business in the market in his own name was considered and it was
unanimously resolved to give him such permission.
17. The application dated 18-4-74 of Shri Kantilal Hiralal Choksi nominating Shri
Hasmukhlal Maneklal Shah as a member of the Exchange in his own place
was considered and after interviewing Shri Hasmukhlal Maneklal Shah and
his recommenders S/Shri. Navalchand Tarachand Shah and Arvind C Dalal it
was resolved by 14 votes in favour and none against to elect Shri
Hasmukhlal Maneklal Shah as a member of the Exchange in the place of
Shri Kantilal Hiralal Choksey subject to the Rules and Regukations of the
Exchange.
18. The application dated 7-6-74 of Shri Tribhuvandas Mulchand Gandhi
nominating Shri Dhanesh Tribhovandas as a member of the Exchange in his
own place was considered and after interviewing Shri Dhanesh Tribhovandas
Gandhi and his recommenders S/Shri B.T. Parekh and Vrijlal Lallubhai it was
resolved by 14 votes in favour and none against to elect Shri Dhanesh
Tribhovandas Gandhi as a member of the Exchange in the place of Shri
Tribhovandas Mulji Gandhi, subject to the Rules and Regulations of the
Exchange.
19. The application dated 12-06-74 of Shri Nanalal Vadilal nominating Shri
Mithalal Somchand Shah as a member of the Exchange in his own place was
considered and after interviewing Shri Mithalal Somchand Shah and his
recommenders S/Shri Vrijalal Lallubhai and N. P. Shah it was resolved by 14
votes in favour and none against to elect Shri Mithalal Somchand Shah as a
member of the Exchange in the place of Shri Nanalal Vadilal subject to the
Rules and regulations of the Exchange.
20. The applications dated 4-6-74 of the near relatives of the late Shri
Mansukhlal Lallubhai as a member of the Exchange in the place of the Late
Shri Mansukhlal Lallubhai was considered and after interviewing Shri
Lallubhai Nagardas and his recommenders S/Shri Chhaganlal Nagardas and
Jayantilal R. Khandwala it was resolved by 14 votes in favour and none
against to elect Shri Ramdas Lallubhai as a member of the Exchange in the
place of the Late Shri Mansukhlal Lallubhai, subject to the Rules and
Regulations of the Exchange.
21. The application dated 10-06-74 of the near relatives of Late Shri Girdharlal
Gulabchand nominating Shri Maganlal Ladhabhai Parekh as a member of the
Exchange in the place of the Late Shri Girdharlal Gulabchand was considered
and after interviewing Shri Maganlal Ladhabhai Parekh and his
recommenders S/Shri Jitendra Champaklal Mashruwala and G. R. Pandya, it
was resolved by 14 votes in favour and none against to elect Shri Maganlal
Ladhabhai Parekh as a member of the Exchange in the place of Late Shri
Girdharlal Gulabchand subject to the Rules and Regulations of the Exchange
on the condition that as told by him he produced before the Chairman a
satisfactory certificate regarding payment of tax.
22. As regards the application dated 29-11-73 pf the near relatives of the Late
Shri Harisdas Jadavji nominating Shri Kalyanji Haridas in the place of the
Late Shri Harisdas Jadavji the letter dated 1-7-74 of Shri Kalyanji Haridas
Sheth withdrawing his membership application was read and noted.
23. Governments letter dated 10-05-74 regarding appointment of underwriters
was considered and the matter was postponed for further consideration.
24. Resolved that we should promote a Company named “ The Stock Exchange
Services (Pvt.) Ltd.” With a capital of Rs. 10 Lakhs and should obtain
Governments permission for taking up shares of that company upto that
much amount.
25. The letter dated 24-5-74 of the Gwalior Rayon Silk Mfg (Wvg.) Co. Ltd. Was
read and it was unanimously resolved to remove their Debentures from our
list of Securities traded on the Exchange as they are being redeemed
26. The listing applications of the under mentioned Companies were considered
and it was unanimously resolved to confirm admission of their below
mentioned securities to our list of securities traded on the Exchange:
1. The Westcoast Paper Mills Ltd. New Equity 2. The Poddar Mills Ltd. Bonus Equity 3. Jayshree Chemicals Ltd. 78,750 New Equity
shares allotted to International Finance Corporation
4. Great Eastern Shipping Co. Ltd. Bonus Equity 5. T. Maneklal Mfh. Co. Ltd. Bonus Equity 6. Colour Chem Ltd. Bonus Equity 7. Associated Bearing Co. Ltd. Bonus Equity 8. Chougule Steamship Ltd. Bonus Equity
27. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to listing Rules and
Regulations, as well as compliance with the usual requirements and other
special requirements stipulated by us, their below mentioned securities
should be admitted to our list of Non-Cleared Securities and trading in those
securities should be done in the lots specified against them.
1. The Vazir Sultan Tobacco Co. Ltd. Equity 100 Shares 2. Searl (India) Ltd. Equity 50 Shares 3. Nalanda Ceramics & Industries Ltd. Equity
Preference 50 Shares 5 Shares
4. Rathi Chemicals Equity 50 Shares 5. Allied Steels Ltd. Equity 50 Shares 6. Stretch Fibres (India) Ltd. Equity 50 Shares 7. Khandwala Herman Electronics Ltd. Equity 50 Shares 8. Universal Cans and Containers Ltd. Equity 50 Shares 9. The Sandur Manganese and Iron Ltd. New Equity 50 Shares 10. The Sandur Manganese and Iron Ltd. 9.8 %
Preference Shares
5 Shares
11. Elecon Engineering Co. Ltd. New Preference
5 Shares
12. Bombay Suburban Electric Supply Ltd. New Preference
5 Shares
13. Bombay Suburban Electric Supply Ltd. ‘F’ Class Redeemable Convertible Debentures
5 Debentures
14. The Industrial Credit and Investments Corporations of India
8 ¼ % Debentures 1986
Rs. 5000
15. Firth (India) Steel Co. Ltd. 9.8 % Preference Shares
5 Shares
16. Mahindra & Mahindra Ltd. 9.8 % Preference Shares
5 Shares
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President
Dt: 12-7-74
12-7-1974
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Girdharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Rasiklal Maneklal Seth Vasantlal Champaklal Seth Navinchandra C. Kampani Seth Vasantlal Jivatlal Seth B.M. Gandhi Seth Vasantlal Kantilal Shah Seth Chotalal Devchand Seth Laldas Jamnadas Seth Ashokkumar G. Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya
Government Nominees Shri. M.R. Mayya
The following business was transacted in the meeting: 1. The prevailing market situation was considered and it was unanimously
resolved to issue a notice as under:
“All the members as hereby informed tat the Governing Board has resolved
that with effect from Saturday 13-7-74 dealings in the market should be
done subject to the restrictions mentioned hereunder:
1. In the none of the Equity shares purchase or sale transactions can be
effected at a price lower than 7% of the official closing price of that
share as on Thursday 4-7-74. These prices will be effective till the first
Monday dt. 15-7-74 and thereafter will be reviewed.
2. Until further notified, transactions in active shares which are included in
Form No:6-7-A, shall be subject to the additional restrictions mentioned
below:
a. Jobbing type business cannot be done in the said shares.
b. In those shares sale can be effected only for squaring up the
members outstanding net purchase position after adjusting according
to the market practice. No sale can be effected beyond.
c. In those shares, purchase can be effected only upto the limit of and
for squaring up of the net outstanding sale position of the member
after adjustment according to the market practice. New purchases
can also be done in those shares over and above the purchase made
as above. However, such newly purchased shares cannot be sold
again but it will be obligatory to take delivery of such shares.
d. Spot delivery transactions of such shares can be effective.
Changes will be made in the abovementioned restrictions from time to time
as may be necessary according to the prevailing circumstances. Those
violating the restrictions will be suspended”.
2. Unanimously resolved as under:
“ Resolved that the Chairman be and is hereby authorised to exercise any of
the powers (except the power to make to, add to, vary and rescind the
Rules and Bye-laws of the Exchange and authorities of the Governing
Board”.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 22-7-74
22-7-1974
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Jivatlal Seth B.M. Gandhi Seth Vasantlal Kantilal Shah Seth Chotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya
Shri S. Rajgopalan
The following business was transacted in the meeting: 1. Resolved that the notices regarding cum-right and ex-right transactions in
the shares of the undermentioned companies mentioned against their
respective names and confirmed:
1) National Standard Duncan Ltd. Notice No:1264/74 dt. 1-7-74
2) Wool Combers of India Ltd. Notice No:1297/74 dt. 4-7-74
3) Digvijay Woollen Mills Ltd. Notice No:1346/74 dt.11-7-74
4) Khandelwal Ferro Alloys Ltd. Notice No:1361/74 dt.15-7-74
5) Vickers Sperry of India Ltd. Notice No:1364/74 dt.15-7-74
6) South India Shipping Co.Ltd. Notice No:1403/74 dt.19-7-74
2. Resolved that the Notices regarding permission given for dealing in Letters
of Renunciation of the new shares of the undermentioned companies below
should be confirmed:
1) Automobile Products of India Ltd. Notice No:1284/74 dt. 3-7-74
2) Haryana Coated Papers Ltd. Notice No:1365/74 dt.15-7-74
3. Resolved that the undermentioned notices should be confirmed:
1) The Notice No:1267/74 dated 1-7-74 regarding dividend on the shares of
Chemo Pharma Laobratories Ltd.
2) Notice No:1292/74 dated 4-7-74, 1303/ dated 7-7-74, Notices
No:1304/74, 1305/74 and 1310/74 dated 7-7-74 and No:1368/74 dated 16-
7-74 regarding changes made in the settlement programmes because of
heavy rains and disorganisation of Railway services.
3) Notice No: 1293/74 dated 4-7-74 regarding continuation of cum-dividend
transactions of the shares of “S.L.M. Maneklal Industries” and “Tata Oil Mills
Co. Ltd.”.
4) Notice No: 1287/74 dated 4-7-74 regarding keeping the market closed
on Friday 5-7-74 and keeping it open on Saturday 6-7-74 because of heavy
rains and also Notice No:1302/74 dated 6-7-74 regarding keeping the
market closed on Saturday 6-7-74 and keeping it open on Monday 8-7-74.
5) Notice No:1314/74 dated 8-7-74 directing not to do transactions in the
shares of Uttar Pradesh Hotels and Restaurants Ltd.
6) Notice No: 1360/74 dated 13-7-74 regarding keeping the market closed
on 16-7-74.
7) Notice No: 1399/74 dated 19-7-74 giving permission to deal in coupons
of the bonus shares of Amar Dyechem Ltd.
4. The application dated 7-5-74 of M/s Jasvantlal Chhotalal & Co., to give them
extension of time for filing an appeal against the decision of the Lower
Bench of the Arbitration Committee in the dispute between Shri M.M.
Upadhyay and M/s Jaswantlal Chhotalal & Co., regarding 50 shares of Philips
India was considered and it was resolved to give them extension of time for
filing an appeal upto 29-7-74.
5. The application dated 22-6-74 of M/s Chimanlal Maneklal to give them
extension of time for filing an appeal against the decision of the Lower
Bench of the Arbitration Committee in the dispute between Shri S.M. Shah
and M/s Chimanlal Maneklal regarding 100 shares of Philips India was
considered and it was resolved to give them extension of time upto 29-7-74
for filing an appeal.
6. The application dated 13-7-74 of Shri Nariman N. Dubash of our office for
giving him a loan was considered and it was resolved to confirm the loan of
Rs.3000/- given to him.
7. The application dated 2-7-74 of Shri K.B.S. Rao for giving him a loan was
considered and it was resolved to give him a loan of Rs. 2500/-.
8. The application dated 2-7-74 of Shri A.B.Desai of one officer was considered
and it was resolved to give him assistance of Rs.178.50p from Shri S.M.
Mehta Smarak Fund for the college fee for the first term of B.Com –Part 1.
9. The letter dated 11-7-74 of Bai Taramati Bhaichand Muchala and S/Shri
Chandravadan Bhaichand Muchala and Ajit Bhaichand Muchala was
considered and it was resolved to give permission to S/Shri Chandravadan
Bhaichand and Ajit Bhaichand to continue the business of the late Shri
Bhaichand Jivraj Muchala for a further period of two more months.
10. The President referred to the Resolution passed in the General Body Meeting
of the Stock Exchange held on the 31st August, 1971 and reported that the
stock exchange has approached Bank of India for a loan of Rs. 15,00,000/-
to finance purchase of a TDC-16 Central Processor Unit with peripheral
equipment. The President requested the Governing Board to pass requisite
resolutions to avail of the loan facility from Bank of India.
IT WAS RESOLVED AS FOLLOWS:
1. THAT the Stock Exchange do borrow a sum upto Rs. 15,00,000/- by
way of Demand loan from the Bank of India on the terms, conditions
and security mentioned below:
Limit: Rs. 15,00,000/-
Term: Demand- Without prejudice to the demand nature, the loan is to
be repaid within a period of 5 years by annual instalments of Rs 3 lakhs.
Rate of Interest: 5% over Bank rate, minimum 12% p.a. with quarterly
rests, or any other rate/s notified by the Bank from time to time.
Security : 1) Demand Promissory Note for Rs.15,00,000/- and interest at
the rate aforesaid to be executed by the Stock Exchange in
favour of the Bank.
2) Continuing Security Agreement.
3) Hypothecation fo the TDC-16 Central Processor Unit and
other accessories thereof.
4) Letter of Lien and Set-off.
Margin: 15%
2. THAT as security for due repayment of the said loan and interest at
the rate aforesaid or any other rate/s notified by the Bank from time
to time, the Stock Exchange do execute in favour of the Bank the
documents referred to below, viz:
a) Demand Promissory Note for Rs. 15,00,000/- and interest at
the rate aforesaid in favour of the Bank.
b) Letter of continuing security.
c) Letter of Hypothecation of the TDC-16 Central Processing Unit
and accessories thereof,
d) Letter of lien and set-off,
in terms of the forms of these documents which are produced to the
Governing Board.
3. THAT the said documents, viz.:
i) Demand Promissory Note for Rs. 15,00,000/-
ii) Letter of continuing security.
iii) Agreement of Hypothecation
iv) Letter of Lien and set-off.
be signed on behalf of the Stock Exchange by Shri Jayant Amerchand the
President and Shri Vasantlal Champaklal Member of the Governing Board
and countersigned by the Secretary Shri A.J.Shah and the seal of the
Exchange be affixed thereto and that such documents be thereafter
delivered to the Bank.
4. THAT the Stock Exchange hereby declares and assures the Bank that
its total borrowings including the loan facility mentioned above are
within the borrowing limit sanctioned by the resolution passed at the
General Body Meeting of the Members of the Stock Exchange held on
the 31st day of August, 1971 viz., Rs.2,50,000/-.
5. THAT the said loan account be operated upon and instructions
concerning the same way be given by and any acknowledgements or
confirmation of debt and/or security which may be required by the
Bank from time to time may be executed on behalf of the Stock
Exchange by the President and a Member of the Governing Board
and countersigned by the Secretary of the Stock Exchange.
6. AND THAT a copy of the foregoing resolutions certified to be a true
copy by the President be furnished to the Bank.
11. The prevailing market situation was considered and it was resolved to issue
a notice as under:
“ All the members are hereby informed that the Governing Board has
resolved that effective from Tuesday 23-7-74 transactions in whichever
equity shares are done, cannot be done at a price lower than 10% of the
official closure price of that share on Thursday 4-7-74. These prices will be
effective until Thursday 25-7-74 and thereafter will be again reviewed.
The members should especially note that the other restrictions mentioned in
the Notice No:1352-74 dated 12-7-74 continue without any other change”.
12. The listing applications of the undermentioned companies were considered
and it was unanimously resolved to confirm admission of their securities
mentioned against their names to our list of securities traded on the
Exchange:
Premier Tyres of India Ltd. …. Bonus Equity
Polsteels India Ltd …. New Equity
Jayant Paper Mills Ltd. …. New Equity
Amar Dye-Chem Ltd. …. Bonus Equity
13. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations and compliance with the usual requirements and other special
requirements stipulated by us their securities mentioned against their
respective names should be admitted to our list of Non-cleared securities list
traded on the Exchange and their transactions should be made in the lots
specified against them:
W.G. Forge and Allied Industries Ltd. Equity …. 50 shares
Sika Breweries Ltd. Equity …. 50 shares
Traco Carbide Ltd. Equity …. 50 shares
Bhagyodaya Investment Co. Ltd. Equity … 50 shares
14. Shri J.T. Halai had informed by his letter dated 18-1-74 that he had stopped
all his business and that members should be informed about it. Notice about
it had been placed on the same date and thereafter he had been warned
again and again that he should not do business in his own name without the
permission of the Board because of the reasons mentioned in our letter to
him dated 3-4-74. As he has been doing business in the market inspite of
that, after taking into consideration the clarification given by him in person
and the letter dated 22-7-74 handed over by him, it was unanimously
resolved that Shri J.T. Halai should be suspended for one year for the
conduct unbecoming of a member of the Exchange.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 26-7-74
26-7-1974
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Kantilal Shah Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Chhotalal Devchand Seth Hiralal Gidharlal Seth Ashokkumar G. Fozdar Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya
Shri S. Rajgopalan
The following business was transacted in the meeting: 1. The application dated 12-7-74 of S/Shri Ramdas Lallubhai and Manilal
Lallubhai for partnership was considered and it was resolved to approve
their partnership under the firm name of M/s Lallubhai Nagardas & Sons
with effect from 12-7-74.
2. The Chairman informed the Board that Handa Rotary Machines Ltd., has
filed an appeal in the Bombay High Court against the decision of the
Government in its appeal to Government in connection with its listing
application.
3. The prevailing market situation was discussed and it was resolved to put up
a notice as under:
“ In continuation of Notice No: 1352/74 dated 12-2-74 all the members are
hereby informed that the Governing Board has resolved that effective from
Saturday 27-7-74 transactions in whichever active shares, that is the shares
settled by Form Nos: 6-A and 7-A are done, cannot be done at a price of
such shares on Thursday 4-7-74. These prices will be effective until 29-7-74
and thereafter will be again reviewed”.
The members should specially note that the other restrictions mentioned in
Notice No:1352/74 dated 12-7-74 continue without any other change.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 7-8-74
Wednesday 7-8-74
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 1.00pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Laldas Jamnadas Seth Babubhai Maganlal Gandhi Seth Vasantlal Jivatlal Seth Chhotalal Devchand Seth Vasantlal Kantilal Shah Seth Ashokkumar G. Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya
The following business was transacted in the meeting: 1. The Chairman acquainted the Board that an arrest warrant and a search
warrant of the Ahmednagar Court has been served on him for offences
under section 420, 489-c and 489-D and 114 of the Indian Penal Code for
cheating, possessing forged or counterfeit currency notes and the tools for
printing such currency notes. There was no mention at all of the mane of
the complainant nor any information relating to what the complaint was
about given in the warrants. The Chairman further told that he has never
visited Ahmednagar and had handed over the whole matter to the legal
counsel who has represented to the Chief Metropolitan magistrate that in
this manner the legal system was being grossly abused.
The Chairman added that in the above mentioned circumstances, it was not
proper for him to continue to function as the Chairman.
Thereafter, after hearing our Solicitors M/s Kanga & Co’s partner Shri
Bhakta, it was unanimously resolved that the Board and the members have
full trust in the Chairman and urge him specially to continue discharging his
duties as the Chairman. Further Resolved that in the above mentioned
matter whatever is required to be done by the Association according to the
advise of our Solicitors should be done.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 13-8-74
Tuesday, 13-8-1974
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Rasiklal Maneklal Seth Phiroze J. Jeejeebhoy Seth Navinchandra C. Kampani Seth Mathradas Samaldas Seth B.M. Gandhi Seth Vasantlal Jivanlal Seth Chotalal Devchand Seth Vasantlal Kantilal Shah Seth Ashokkumar G. Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya Seth Hiralal Gidharlal
Government Nominees Shri M.R. Mayya
Shri S. Rajgopalan
The following business was transacted in the meeting: 1. Resolved that the notices mentioned below regarding cum-right and Ex-
right transactions in the shares of the concerned companies should be
confirmed:
1. Modi Pon Ltd Notice No:1427/74 dt. 26-7-74
2. Uttar Pradesh Hotels & Restaurants Ltd. Notice No: 1492/74 dt.30-7-74
3. Mafatlal Finance Spg. and Mfg. Co.Ltd. Notice No: 1529/74 dt. 2-8-74
4. The Gwalior Rayon Silk Mfg. Co.Ltd. Notice No: 1531/74 dt.2-8-74
5. Madhavnagar Cotton Mills Ltd. Notice No:1551/74 dt. 5-8-74
6. Kirloskar Cumins Ltd. Notice No: 1584/74 dt.8-8-74
2. Resolved that the Notices regarding permission given for doing business
in Letters of Renunciation and coupons of the new shares of the
companies mentioned below should be confirmed:
1. Sirdesai Brothers Ltd. Notice No: 1414/74 dt. 27-7-74
2. National Standard Deccan Ltd, Notice No: 1541/74 dt. 7-8-74
3. Resolved that the undermentioned Notices should be confirmed:
1. The Notice No:1464/74 dt. 26-7-74 regarding desisting from doing
transactions in the shares of Bilaspur Spg. Mills & Industries Ltd.
2. The Notices No:1435/74 dt. 23-7-74, No:1534/74 dt. 2-8-74 and
No:1620/74 dt. 12-8-74 regarding settlement of transactions in
the shares settled by sellers tickets, foreign securities and odd
lots.
3. The Notices No: 1476/74 dt. 27-7-74 and 1503/74 dated 30-7-74
regarding circulation of dummy kaplis relating to transactions
which are settled by red-black forms 6-A and 7-A.
4. Notice No:1537/74 dated 3-8-74 regarding permission given for
doing business in coupons of bonus shares of Century Enka Ltd.
4. The letter dated 2-7-74 of Shri Ramniklal Nanalal was read and it was
resolved that Wednesday 21-8-74 should be fixed as the Association
Holiday as it was a Jain holiday of Samvatsari.
5. The listing applications of the undermentioned companies were
considered and it was unanimously resolved to confirm admission of their
below mentioned securities to our list of securities traded on the
Exchange:
Bharat Bijlee Ltd. Bonus Equity
W.S. Insulator of India Ltd. New Equity
Warner Hindustan Ltd. Bonus Equity
6. The listing application of Adarsha Chemicals and Fertilisers was
considered and it was unanimously resolved that subject to the Listing
Rules and Regulations as well as compliance with the usual requirements
and other special requirements stipulated by us their 9.8% new
preference shares should be placed on our list of securities traded on the
Exchange and dealings in those shares should be done in lots of 5 shares.
7. The prevailing market situation was discussed.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President Dt: 17-8-74
Saturday, 17-8-74
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Navinchandra C. Kampani Seth Mathradas Samaldas Seth B.M. Gandhi Seth Vasantlal Champaklal Seth Chotalal Devchand Seth Vasantlal Jivanlal Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Purshottam Gopiram Ruiya
Government Nominees
Shri M.R. Mayya The following business was transacted in the meeting: 1. The prevailing market situation was considered and it was resolved to put up
a notice as under:
“ All the members are hereby informed that the Governing Board has
resolved that from now members can do business in every kind of shares as
usual without any restrictions mentioned in the Notice No:1372/74 dated 16-
7-74.
Further, to be informed that in view of the prevailing circumstances, nobody
should do very large business or transactions in any shares on behalf of the
clients or himself. If any member is found doing excessive business or
transactions, he shall have to pay very heavy additional margin and more
over he will be suspended immediately. Members are therefore specially
cautioned to do business cautiously in the “general interest”.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President
Dt: 1-10-74
Thursday, 1-10-74
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Rasiklal Maneklal Seth Vasantlal Champaklal Seth Navinchandra C. Kampani Seth Vasantlal Katilal Shah Seth B.M. Gandhi Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar
Government Nominees
Shri M.R. Mayya Shri S. Rajagopalan
The following business was transacted in the meeting: 1. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding cum-right and Ex-right transactions
in their shares are confirmed:
1. Eurocote (India) Ltd. Notice No:1814/74 dt.3-9-74 2. Richardson Hindustan Ltd. Notice No: 1859/74 dt.9-8-74 3. Sussen Textile Bearings Ltd. Notice No: 1897/74 dt.14-9-74 4. Shah Malleable Castings Ltd. Notice No: 1921/74 dt.20-9-74 5. Kesar Sugar Works Ltd. Notice No: 1950/74 dt.25-9-74
2. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding the permission given for dealing in
Letters of Renunciation and confirms of the new shares are confirmed:
1. Tata Mills Ltd. Notice No: 1626/74 dt.13-8-74 2. Shree Digvijay Woollen Mills Ltd. Notice No: 1649/74 dt. 16-8-74 3. Vickers Spearsy of India Ltd. Notice No: 1667/74 dt. 29-8-74 4. Modi Rubbers Ltd. Notice No: 1781/74 dt. 30-8-74 5. The Madhavnagar Cotton Mills Ltd. Notice No: 1868/74 dt. 10-9-74 6. Indo Lowenbrew Breweries Ltd. Notice No: 1952/74 dt.15-9-74
3. Resolved that the undermentioned notices should be confirmed:
1. Notice No: 1639/74 dated 14-8-74, 1655/74 dated 16-8-74 and
1659/74 dated 17-8-74 regarding issue of Buyers Tickets pertaining
to the shares which are settled by red-black forms 6-A and 7-A.
2. Notice No: 1657/74 dated 17-8-74 regarding resumption of dealings
in the shares of Bilaspur Spg. Mills and Industries Ltd.
3. Notice No:1669/74 dated 19-8-74 for making ex-dividend
transactions in some shares which are settled by red-black forms 6-
A and 7-A.
4. Notice No:1690-74 dated 21-8-74 stopping transactions in the
shares of IndoLowenbrew Breweries and Notice No: 1872/74 dated
10-9-74 for doing ex-right transactions in the shares of that
company.
5. Notice No: 1822/74 dated 4-9-74 regarding permission given for
dealing in coupons of bonus shares of Navsari Cotton and Silk Mills
Ltd.
6. Notice No: 1827/74 dated 4-9-74 and Notice No:1860/74 dated 9-
9-74 regarding payment of difference in dividend between the
parties in several kinds of shares which are settled by red-black
forms 6-A and 7-A.
7. Notice No: 1873/74 dated 11-9-74 regarding getting call
endorsements made on share certificate.
8. The Notice No: 1874/74 dated 11-9-74, No:1885/74 dated 12-9-74
and No:1887/74 dated 13-9-74 regarding paying- receiving the
amount of difference in dividend of National Rayon shares and
Notice No:1937/74 dated 23-9-74 regarding difference of dividend
on National Rayon and Kohinoor Mills Shares.
9. Notice No:1881/74 dated 12-9-74 regarding making ex-dividend
transactions in the shares of Ahmedabad Electricity shares and
Bombay Suburban Electricity Co.Ltd. shares.
10. The Notice No: 1898 dated 14-9-74 for not doing transactions in the
shares of Regal Papers Ltd., and notice No:1914 dated 18-9-74
regarding resumption of business in those shares.
11. Notice No: 1903/74 dated 16-9-74 regarding closure of market for
all kinds of business on 16-9-74 because of Samvatsari holiday of
Jains.
12. Notice No: 1987/74 dated 30-9-74 regarding transactions in the
shares of India United Mills Ltd.
4. The application of the National Association For The Blind dated 22-7-74 and
the application dated 13-9-74 of the Tata Agricultural and Rural Centre for
the blind were considered and it was resolved to give each of them
assistance of Rs.101/- from the Association Fund.
5. The application dated 10-9-74 of our Accountant Shri A.B. Desai to give
him assistance of Rs.175/- of the tuition fee for the intermediate
examination of Institute of Cost and Works Accountant was considered and
it was resolved to give him assistance of that much amount from Shri M.C.
Mehta Smarak Fund.
6. The applications of the undermentioned persons of our office staff for
giving them assistance for the expenses incurred by them for medical
treatment during their sickness were considered and it was resolved to give
them assistance as under from “Sheth K.R.P. Shroff Stock Exchange
Sarvajanik Fund”:
Shri B.M. Mehta … Rs. 1600/-
Sweeper Kachru Dhureram … Rs.125/-
7. The applications of our office sepoy Balkrishna Shinde and liftman Tukaram
Laxman for giving them an assistance for the medical expenses incurred by
them during the sickness of their lives were considered and it was resolved
that we cannot give any assistance to them for that.
8. The application dated 24-9-74 of Shri A.B.S. Nair of our office was
considered and it was resolved to give him a loan of Rs. 3000/-.
9. The report of Sir Shapurji Broacha Brokers Helping Fund Committee dated
26-8-74 was read and it was resolved to approve it.
10. The letters of the undermentioned members were read and it was resolved
to that the permission given by the Chairman for doing business as
Representative Members should be approved:
Nominating Members Representative Members
M/s M.K. Choksey & Co. M/s Chimanlal Maneklal
Shri Nagindas Chhaganlal Shri Rajnikant Chinubhai Sheth
11. The application dated 23-8-74 of S/Shri Chandratandas Bagri,
Shravankumar Ramkrishna Bagri, Dilipkumar Chandratandas Bagri and
Bharatkumar Chandratan Bagri for their partnership was considered and it
was resolved to approve their partnership under the firm name of C.R.D.
Bagri and Sons w.e.f. 1-4-74.
12. The letter dated 2-9-74 of Bai Taramati Bhaskar and S/Shri Chandravadan
Bhaichand Muchhala and Ajit Bhaichand Muchhala was considered and it
was resolved to give permission to S/Shri Chandravadan Bhaichand
Muchhala and Ajit Bhaichand Muchhala to continue the business of late Shri
Bhaichand Jivraj Muchhala for a further period of one month.
13. The application of Shri Kailashnarayan Parasrampuria dated 17-8-74 to
give him an extension of time for filing an appeal against the decision of
the Lower Bench of the Arbitration Committee in the dispute for Rs.560/-
between Shri Girdharlal Amulakh Shah and Shri Kailashnarayan
Parasrampuria and the letter dated 21-8-74 of Shri Girdharlal Amulakh
Shah in that connection were considered and it was resolved to give time
to Shri Kailashnarayan Parasrampuria upto 8-10-74 for filing an appeal.
14. The application dated 29-8-74 of the near relatives of late Shri Bhaichand
Jivraj Muchhala nominating Shri Chandravadan Bhaichand Muchhala in the
place of the late Shri Bhaichand Jivraj Muchhala was considered and after
interviewing Shri Chandrakant Bhaichand Muchhala and his recommenders
S/Shri G.R. Pandya and Jitendra Champaklal Mashruwala it was resolved by
11 votes in favour and none against to elelct Shri Chandravadan Bhaichand
Muchhala in the place of the late Shri Bhaichand Jivraj Muchhala subject to
the Rules and Bye-laws of the Exchange on the condition that he should
separate himself from the partnership firms of M/s Delux Silk Traders and
M/s Mukundlal & Co., within one month.
15. The listing applications of the under mentioned Companies were considered
and it was unanimously resolved to confirm admission of their securities
mentioned below against their names to our list of securities traded on the
Exchange:
Indo Burma Petroleum Co. Ltd. Bonus Equity Aditya Mills Ltd. New Equity Uttar Pradesh Hotels & Restaurant Ltd. New Equity and New Preference
Shares. Crompton Greaves Ltd. Bonus Equity Modi Industries Ltd. New Equity Navsari Cotton & Silk Mills Ltd. Bonus Equity L. Morrision & Son and Jones Ltd. New Equity
16. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to Listing Rules and
Regulations, as well as compliance with the usual requirements and other
special requirements as may be stipulated by us, their below mentioned
securities should be admitted to our list of Non-Cleared Securities and
trading in those securities should be done in the lots mentioned against
these securties:
Ramacast Ltd. Equity 50 shares Universal Plast Ltd. Equity 50 shares Adarsh Chemicals & Fertilisers Ltd. 9.8% Preference shares & 5 shares
17. Unanimously resolved that the undermentioned securities should be
removed from our list of securities traded on the Exchange as they have
been redeemed:
Stat Paper Mills Ltd. Convertible Third Preference shares Jay Shree Tea & Industries Ltd. ‘C’ Redeemable Preference shares The Ravalgam Sugar Farm Ltd. 7% Debentures.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 22-10-74
Tuesday, 22-10-74
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Rasiklal Maneklal Seth Laldas Jamnadas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Jivatlal Seth B.M. Gandhi Seth Vasantlal Katilal Shah Seth Chhotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Purshottam Gopiram Ruiya
Government Nominees
Shri M.R. Mayya
The following business was transacted in the meeting: 1. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding cum-right and Ex-right transactions
in their shares are confirmed:
1. Ramon and Derun Notice No:2002/74 dt.2-10=74
2. The Empire Dyeing and Manufacturing Co. Ltd. Notice No: 2106/74
dt.21-10-74
2. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding deliverability of their new shares
against old shares are confirmed:
1. Century Enka Ltd. Notice No: 1999/74 dt.2-10-74
2. New Chem Plastics Ltd. Notice No: 2018/74 dt. 3-10-74
3. Resolved that the undermentioned notices should be confirmed:
1. Notice No: 2000/74 dated 2-10-74 regarding making ex-dividend
transactions in the shares of J.K. Synthetics Ltd.
2. Notice No:2013/74 3-10-74 regarding stoppage of transactions in
the shares of Ranbaxy Laboratories Ltd.
3. Notice No: 2027/74 dated 8-10-74 regarding permission given for
doing transactions in the coupons of the bonus shares of Khandelwal
Ferro Alloys Ltd.
4. Notice No: 2057/74 dated 10-10-74 regarding settlement of the
Hand Delivery transactions.
5. Notice No:2103/74 dt: 21-10-74 regarding stoppage of transactions
in the shares of Beharday Ramcharan Cotton Mills Ltd.
4. Resolved that our market should be kept open on Wednesday 13-11-74
from S.T. 5.30 pm. to 6.30 pm. for doing business for Kartik Vikram
Samvat 2031.
5. The Report, Income and Expenditure Account and Balance Sheet of our
Association for the year 1973 were passed.
6. The letters dated 19-10-74 of Shri B.R. Raheja was considered and it was
resolved that his offer to purchase one membership right of our Association
at a price of Rs. 30,000/- cannot be accepted.
7. The application dated 24-9-74 of Shri Nagindas Nanji Bakhat nominating
Shri Narendra Motilal Dalal as a member of the Exchange in his own place
was considered and after interviewing Shri Narendra Motilal Dalal and his
recommenders S/Shri Nagindas Pranjivandas and N.C. Lodhiwala it was
resolved by 16 votes in favour and note against to elect Shri Narendra
Motilal Dalal as a member of the Exchange in place of Shri Nagindas Nanji
Bakhat subject to the Rules and Regulations of the Exchange.
8. The application dated 25-7-74 of the near relatives of the late Shri Kantilal
Kakalbhai Dasadia nominating Shri Madan Mohan Murarka as a member of
the Exchange in the place of late Shri Kantilal Kakalbhai Dadadia was
considered and after interviewing Shri Madan Mohan Murarka and his
recommenders Shri Bhupendra Champaklal Dalal it was resolved by 3 votes
in favour and 13 against that he cannot be admitted as a member of the
Exchange.
9. The application dated 26-9-74 of the near relatives of the late Shri Haridas
Jadowji nominating Shri Girdharilal Dhanraj Khaitan as a member of the
Exchange in the place of the late Shri Haridas Jadowji was considered and
after interviewing Shri Girdharilal Dhanraj Khaitan and his recommenders
S/Shri Manubhai Maneklal and Brijmohan Sagarmal it was resolved by 10
votes in favour and 6 against to elect Shri Girdharilal Dhanraj Khaitan as a
member of the Exchange in the place of late Shri Haridas Jadowji subject
to the Rules and Bye-laws of the Exchange.
10. The listing applications of the under mentioned Companies were considered
and it was resolved to confirm admission of their securities mentioned
against their names to our list of securities traded on the Exchange:
Century Enka Ltd. Bonus Equity
New- Chem Plastics Ltd. Bonus Equity
11. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to Listing Rules and
Regulations, as well as compliance with the usual requirements and other
special requirements stipulated by us, their securities mentioned below
against their names should be admitted to our list of Non-Cleared
Securities and trading in those securities should be done in the lots
specified against them:
Indian Resort Hotel Co. Ltd. Equity 50 shares
Nilkanth Shipping Co.Ltd. Equity 50 shares
Gogte Steels Ltd. Equity 50 shares
Gogte Steels Ltd. Preference 5 shares.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 21-12-74
Saturday, 21-12-74
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Jivatlal Seth Babubhai Maganlal Gandhi Seth Vasantlal Katilal Shah Seth Chhotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya
Shri S. Rajagopalan The following business was transacted in the meeting: 1. The President mentioned that as Shri S. Rajagopalan has been shifted to
New Delhi we shall not have the benefit of his guidance now. He thanked
Shri S. Rajagopalan for the valuable support, co-operation and guidance
given by him to the Board and wished him success in his new
assignments. Shri Rajagopalan thanked the Board in return for its good
wishes.
2. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding cum-right and ex-right transactions
in their shares are confirmed:
1. Empire Dyeing and Mfg. Co. Ltd. Notice No:2106/74 dt. 21-10-74 2. The Victoria Mills Ltd. Notice No:2158/74 dt. 28-10-74 3. The Mysore Kirloskar Ltd. Notice No:2163/74 dt.29-10-74 4. Escorts Ltd. Notice No:2179/74 dt.31-10-74 5. The National Radio and
Electronics Ltd. Notice No:2181/74 dt.31-10-74
6. The Gujarat Steel Tubes Ltd. Notice No:2245/74 dt.8-11-74 7. Hindustan Lever Ltd. Notice No:2247/74 dt.9-11-74 8. Mafatlal Industries Ltd. Notice No:2250/74 dt.9-11-74 9. Indian Cement (1937) Ltd. Notice No:2253/74 dt.9-11-74 10. Dalmia Cement (Bharat)Ltd. Notice No:2310/74 dt.20-11-74 11. The Swastic Safe Deposit &
Investments Ltd. Notice No:2320/74 dt.21-11-74
12. Polyo Lefines Industries Ltd. Notice No:2345/74 dt.23-11-74 13. Nerolac Paints Ltd. Notice No:2394/74 dt.28-11-74 14. Ramon & Denim Ltd. Notice No:2400/74 dt.30-11-74 15. New Swadeshi Mills of
Ahmedabad Ltd. Notice No:2453/74 dt.9-12-74
16. The Finlay Mills Ltd. Notice No:2468/74 dt.11-12-74 17. The Gold Mohar Mills Ltd. Notice No:2469/74 dt.11-12-74
3. Resolved that the notices mentioned against the names of the
undermentioned Companies regarding the deliverability of their new shares
against old shares should be confirmed:
1. T. Maneklal Mfg.Co.Ltd. Notice No: 2235/74 dt.8-11-74
2. Tata Chemicals Ltd. Notice No: 2492/74 dt. 12-12-74
3. The West Coast Paper Mills Ltd. Notice No: 2493/74 dt. 14-12-74
4. The Notice No:2350/74, 2351/74 and 2352/74 dated 25-11-74 regarding
declaration of Shri Sobhagyachand Mohanlal Shah as a defaulter as he has
failed to pay the money due by him to his creditors were confirmed.
5. The Notice No: 2174/74 dated 31-10-74 regarding annulment of the rate of
Rs.200/- of the ordinary shares of Kohinoor Mills Ltd., recorded on 29-3-74
was confirmed.
6. Our Association Holidays for the year 1975 were fixed.
7. The application dated 13-12-74 of Shri S. Loknath who has left his
employment from our staff, for payment to him his Provident Fund amount
was considered and it was resolved to pay him Rs.172.90p according to our
Provident Fund Rules.
8. The application dated 6-12-74 of our Accountant Shri A.B. Desai to give
him assistance of Rs.175/- for his college fees o the second term of junior
B.Com. was considered and it was resolved to give him that much
assistance from Shri M.C.Mehta Smarak Fund.
9. The applications of the undermentioned persons of our office staff for
giving them loans were considered and it was resolved to give them loans
of the amounts mentioned against their respective names:
Sepoy Namdev Bhikaji Rs.500/-
Hamal Sahdev Ganpat Kadam Rs. 2000/-
Sweeper Harcharan Juiram Rs. 1000/-
10. The application dated 20-1-74 of S/Shri Shanker Amit Deshpande and
Hasmukhlal Manekalal Shah for partnership between them was considered
and it was resolved to approve their partnership under the firm name of
M/s S.A. Deshpande & Co., w.e.f. 5-11-74.
11. The letter dated 17-12-74 of S/Shri Durgashankar Udayram Shukla,
Prabhuchandra Durgashankar Shukla and Maheshkumar Durgashankar
Shukla was read and it was noted that S/Shri Prabhuchandra Durgashankar
Shukla and Maheshkumar Durgashankar Shukla were to retire from the
partnership firm of M/s D.V. Shukla with effect from 31-12-74 and
thereafter Shri Durgashankar Udayram Shukla would continue to do
business as a sole proprietor of that firm.
12. The letter dated 24-10-74 of S/Shri Gunvantlal Karsandas Dalal, Sanat
Motilal Dalal, Upendra Motilal Dalal and Narendra Motilal Dalal was read
and it was noted that S/Shri Narendra Motilal Dalal and Upendra Motilal
Dalal had separated from the firm of M/s Dalal & Sons.
13. The letters of the undermentioned members were read and it was resolved
to that the permission given by the Chairman for doing business as
Representative Members should be approved:
Nominating Members Representative Members Shri Chandravadan Bhaichand Muchhala Shri Maganlal Ladhabhai Shri Dipchand S. Taswala Shri Sumantrai G. Shah Shri Vrajlal Lallubhai Shri Mithalal Somchand Shah
14. The application dated of M/s Devidas Jamnadas dated 10-12-74 and 20-12-
74 for giving them extension of time for filing appeals against the decisions
of the Lower Bench of the Arbitration Committee in their dispute with Shri
P.L.Shah and Shri Yashwant N. Shah respectively were considered and it
was resolved that their request cannot be granted.
15. The letter dated 5-12-74 of Bai Shanta Bapulal and S/Shri V.B. Maniar and
P. B. Maniar was considered and it was resolved that Shri Vasantlal Bapulal
be given permission to continue the business of the late Shri Bapulal Jivraj
Maniar for a period of three months.
16. The letter dated 15-10-74 of M/s Batliwala & Karani was considered and it
was resolved that they should be informed by a letter that as the name of
their firm is included in the name of M/s Batliwala & Karani (Merchant
BankingLtd.) their request cannot be granted.
17. The President referred to the resolution passed in the General Body
Meeting of the Stock Exchange held on the 20th day of December, 1974,
and reported that Bank of India (hereinafter referred to as “the Bank”)
approached the Stock Exchange to take on lease the portions of the first
and second basements, the ground floor and the mezzanine floor of the
Stock Exchange Building which is under construction, for the purpose of
their Share Bazar Branch Premises. The President requested the Governing
Board to pass requisite Resolution for the purpose of executing the
Agreement to Lease with the draft Deed of Lease and the Draft of the
Agreement for Over-all Services and Facilities annexed thereto.
The President also reported that the Bank has agreed to subscribe to the 8
% Stock Exchange Debentures Stock, 1981-86, of Rs. 47.50 Lakhs issued
by the Stock Exchange on condition that the Stock Exchange will
repurchase the Debenture Stock from the Bank at par in 22 half-yearly
instalments. The President requested the Governing Board to pass requisite
Resolutions for the purpose of executing an Undertaking in favour of the
Bank to repurchase the said Debentures Stock of the face value of Rs.
47.50 Lakhs to be purchased by the Bank.
IT WAS RESOLVED AS FOLLOWS
That the Stock Exchange do give on lease the portions of the
basement, the ground floor and the mezzanine floor to the Bank for the
period, at the rent and over-all service and facility charges and on the term
and conditions set out in the Bank’s letter No. BMR:LS:NGK:11647 dated
7.11.1974 and incorporated in the draft Agreement to Lease with the draft
of the Deed of Lease and the Draft of the Agreement for Over-all Services
and Facilities annexed thereto.
That the Stock Exchange do execute an undertaking in favour of the
Bank for the purchase of the Debenture Stock of the face value of Rs. 47 ½
Lakhs purchased / agreed to be purchased by the Bank in terms of the
draft of the Undertaking approved by both the parties.
That the said documents viz. (1) Agreement to Lease with the Draft
of the Deed of Lease and the draft of the Agreement for over-all Services
and Facilities annexed thereto and (2) Undertaking to be given by the
Stock Exchange to the Bank for the purchase of the Debenture Stock the
drafts of which are placed before the Governing Board and initialled by the
President for identification be signed on behalf of the Stock Exchange by
Shri Jayant Amerchand, the President, and Shri Jivacahnd Ratanchand
Motishaw, Member of the Governing Board, and counter-signed by the
Secretary Shri Amritlal Jashraj Shah and the seal of the Stock Exchange be
affixed thereto.
That a copy of the foregoing Resolution certified to be a true copy by
the President be furnished to the Bank.
18. The application dated 11-11-74 of the near relatives of the late Shri
Dhansukhbhai Amritlal Maniar nominating Shri Bharatkumar Dhansukhbhai
Maniar as a member of the Exchange in the place of the late Shri
Dhansukhbhai Amritlal Maniar was considered and after interviewing Shri
Bharatkumar Dhansukhbhai Mania and his recommenders S/Shri Kantilal
Mohanlal and Ramanlal D. Shah it was resolved by 11 votes in favour and 2
against to elelct Shri Bharatkumar Dhansukhbhai Maniar as a member of
the Exchange in the place of the late Shri Dhansukhbhai Amritlal Maniar,
subject to the Rules and Regulations of the Exchange on condition that
within one month he should sever his connection with the Bombay
Diamonds Association and he should not start doing business in the market
in his own name without taking prior permission of the Board.
19. Resolved that a sum of Rs. 12,50,000/- should be given to the Stock
Exchange Foundation from the Stock Exchange Education and Research
Services on condition that Rs.10,50,000/- out of that sum will be
considered as a corpus.
20. Resolved that the amounts shown below against the names of the
undermentioned funds should be given to those funds from the Stock
Exchange Education and Research Services Fund:
Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund … Rs. 15,000/-
Shri M.C. Mehta Smarak Fund … Rs. 5,000/-.
21. Resolved that an amount of Rs.1001/- should be given from the
Association Fund to the Stock Exchange Foundation which has been
approved under Section 35(1)(2) of the Income Tax Act.
22. The letter dated 7-12-74 of S.B. Joshi & Co. and the letter dated 12-12-74
of the Vigyan Industries Ltd., were read and it was resolved that their
shares should be re-admitted to our list of securities traded on the
Exchange as they have paid the Annual Listing Free for the year 1974.
23. The listing applications of the under mentioned Companies were considered and it was unanimously resolved to confirm re-admission of their securities mentioned below against their names to our list of securities traded on the Exchange: 1. Mahendra Electricals Ltd. Bonus Equity 2. Wadia India Ltd. New ‘C’ Series Equity 3. Travancore Electro Chemical Industries
Ltd. New Equity
4. Wool Combers of India Ltd. Bonus Equity 5. South India Shipping Corporation Ltd. Bonus Equity 6. Firth (India) Steel Co. Ltd. New Equity 7. National Standard Duncan Ltd. New Equity 8. Modi Pan Ltd. Bonus Equity 9. The Mafatlal Fine Spg.& Mfg. Co.Ltd. Bonus Equity 10. Automobile Products of India Ltd. New Equity 11. Digvijay Woollen Mills Ltd. New Equity 12. Richardson Hindustan Ltd. Bonus Equity 13. The East India Hotels Ltd. New Equity & New
Preference shares 14. Hicks Thermometers India Ltd. New Equity 15. Adarsh Chemicals and Fertilisers Ltd. New Equity 16. Star Paper Mills Ltd. New Equity – issued in
liew of 7% 3rd convertible Preference Shares.
17. Guj-Chem Distilleries India Ltd. New Equity 18. Shah Malleable Castings Ltd. New Equity
19. Unicorn Tyres Ltd. New Equity
24. The listing applications of the undermentioned companies were considered and it was resolved that, subject to the Listing Rules and Regulations as well as compliance with the usual requirements and other special requirements stipulated by us, their securities mentioned against their names should be included in our list of Non-Cleared securities and dealings in those securities should be done in the lots specified against their names: Rolatainers Ltd. Equity … 50 shares Chanakya Investment Ltd. Equity … 50 shares Mangal Investments Ltd. Equity … 50 shares Navyug Investments Ltd. Equity … 50 shares Haryana Polysteels Ltd. Equity … 50 shares Haryana Polysteels Ltd. Preference … 50 shares Ramon Engineering Ltd. Equity … 50 shares Century Iron and Steels Ltd. Equity … 50 shares Century Iron and Steels Ltd. Preference 5 shares Grijchem Distillers India Ltd. 11% Preference Shares 5 shares
25. The letter dated 30-11-74 of the Nagpur Electric Light and Power Co. Ltd., was read and it was unanimously resolved that as that company has gone into voluntary liquidation its shares should be removed from our list of securities traded on the Exchange.
26. The letter dated 28-10-74 of Andhra Foundry and Machine Co. Ltd., and the letter dated 16-12-74 of Azan Zahi Mills Ltd., were read and it was unanimously resolved to remove their shares from our list of securities traded on the Exchange.
27. The letter dated 11-10-74 of the National Radio and Electronics Ltd., were read an it was unanimously resolved to remover their 7% 1974 Debentures from our list of securities traded on the Exchange as they have been redeemed.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 18-2-75
Tuesday, 18-2-75
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Rasiklal Maneklal Seth Laldas Jamnadas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Katilal Shah Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Chhotalal Devchand Seth Ashokkumar G. Fozdar Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya
The following business was transacted in the meeting: 1. The applications for help of the undermentioned institutions were
considered and it was resolved to give each of them help of Rs. 101/- from
the Association Fund:
1. The Bombay Dumb and Deaf Institution
2. Society for the Vocational Rehabilitation of the Retarded.
3. All India Federation of the Deaf.
2. The letter dated 24-12-74 of S/Shri Bachubhai Fulchand Jhaveri and
Bharatkumar Bachubhai Jhaveri was read and it was noted that Shri
Bharatkumar Bachubhai Jhaveri had separated from the firm of M/s
Bachubhai Fulchand Jhaveri with effect from 14-11-74.
3. The letters of the undermentioned members were read and it was resolved
to confirm the permission given by the Chairman to them to do business as
Representative Members as recorded below:
Nominating Members Representative Members M/s Kantilal Mohanlal Shri Bharat Dalsukhbhai Maniar
M/s Maganlal Chimanlal Shri Kardam R. Dalal
4. The letter dated 15-2-75 of S/Shri Pravin Kantilal Dalal and Mahesh Kantilal
Dalal was considered and it was resolved to give permission to Shri Pravin
Kantilal Vakil to continue the business of the late Shri K. Motiram Vakik for
a period of three months.
5. The letter dated 15-2-75 of Shri V.B. Maniar was read and it was resolved
to give permission to him to continue the business of the late Shri Bapulal
Jivraj Maniar for a further period of two months.
6. The letter dated 23-12-74 of Bai Jayanti Narandas and S/Shri Vijaychandra
Narandas Cantol and Dilipkumar Narandas Cantol was read and it was
resolved to give permission to Shri Vijaychandra Narandas Cantol to
continue the business of M/s Narandas and Sons for a period of three
months.
7. The application dated 15-1-75 of Shri Sureshchandra Nandlal for appointing
Shri Kaniyalal Shanalal Shah as his remisier was considered and it was
resolved that his request cannot be granted.
8. The application of Shri M.K. Shivraman and Shri Balkrishna Shinde for
giving them assistance for the expenses incurred by them for medical
treatment of their wives during their illness was considered and it was
resolved that their request cannot be granted.
9. The application dated 17-1-75 of Shri B.M. Mohta of our staff requested for
assistance of the fee of Rs.300/- for doing a Punch Operating Course was
considered and it was resolved to give him that much assistance from Shri
M.C. Mehta Smarak Fund.
10. The application of the undermentioned persons of our office staff for giving
them loans were considered and it was resolved to give them loans of the
amounts mentioned against their names:
Shri M.D. Vyas ….Rs.1000/-
Shri H.A. Patni ….Rs.1500/-
Shri T.G. Babu ….Rs.2500/-
Sepoy Pandurang Ghadi …. Rs.1700/-
Sweeper Kharecha Dhuriram ….Rs.1000/-
11. The Report dated 30-1-75 of Sir Shapurji Broacha Brokers’ helping funce
was read and it was resolved to approve it.
12. The application dated 7-10-74 of the officers of our office viz., J.M.Lalkaka,
Shri K.V.B.S.Rao, Shri S.N.Karaka, Shri M.D.Vyas, and Shri Nariman
N.Dubash for giving them pay rise in view of the present very high price
rise was considered and it was resolved to give each of them two
increments of pay from 1-1-1975.
13. The application dated 5-8-74 of our pensioners Shri K.B. Daruwala
requesting for increasing his pension was considered and it was resolved to
give him help of Rs. 750/- from Seth K.R.P. Shroff Stock Exchange
Sarvajanik Fund.
14. Unanimously resolved that as the undermentioned companies have been
nationalised their shares should be struck off our list of securities traded
on the Exchange:
The India United Mills Ltd.
The Model Mills Nagpur Ltd.
The Hingir Rampur Coal Co. Ltd.
15. Unanimously resolved that the 61/2% Preference shares of Premier Tyres
should be struck off our list of securities traded on the Exchange as they
have been redeemed.
16. The listing applications of the undermentioned companies were considered and it was resolved that, subject to the Listing Rules and Regulations as well as compliance with the usual requirements and other special requirements stipulated by us, their securities mentioned against their respective names should be admitted to our list of securities traded on the Exchange and dealings in those securities should be done in the trading lots specified below: Dabriwala Steel & Engineering Co.Ltd. Equity 50 shares Dabriwala Steel & Engineering Co.Ltd. Preference 50 shares Dabangere Sugar Co. Ltd. Equity 50 shares Siddharth Ferro Alloys Ltd. Equity 50 shares Falcon Tyres Ltd. Equity 50 shares Tamilnadu Chemical Products Ltd. Equity 50 shares Tamilnadu Chemical Products Ltd. Preference 5 shares Anglo-American Marine Co.Ltd. Equity 50 shares Anglo-American Marine Co.Ltd. Preference 5 shares Amines & Plasticisers Ltd. Equity 50 shares Amines & Plasticisers Ltd. Preference 5 shares Bharat Bijlee Ltd. 10% convertible bonds -1 bond Camphor & Allied Products Ltd. 10% convertible bonds -1 bond
17. Resolved that subject to the limit of Rs. 250/- p.m. and Rs.200/- p.m.
respectively our Secretary Shri A.J.Shah and our Chief Statistical Officer
Shri R.R. Nair should be paid towards the expenses for the use of their own
cars for office work.
18. Resolved that Thursday 20-3-75 should be fixed as the day for election of
the Governing Board for the year 1975-76.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 16-4-75
Wednesday, 16-4-75
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.30 pm under the Chairmanship of Seth Mahradas Samaldas in the beginning and thereafter under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Katilal Shah Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya Seth Hiralal Gidharlal Seth Ashokkumar G. Fozdar Seth Jayantilal Rangildas Khandwala
Government Nominees Shri M.R. Mayya Shri S.C. Bafna
The following business was transacted in the meeting: 1. Proposed by Seth Jayant Amerchand and supported by Seth Rasiklal
Maneklal, Seth Mathradas Samaldas was unanimously elected as Chairman
of to-day’s meeting at the start.
2. Proposed by Seth Rasiklal Maneklal and supported by Seth J.R. Motishaw,
Shri Jayant Amerchand was unanimously elected as President.
Seth Jayant Amerchand thanked for the trust reposed in him by all the
members of the Board. He congratulated Shri Jayantilal Rangildas
Khandwala for being elected to the Board and welcomed Shri F.C. Bafna
expressing his gratitude for the support and co-operation given by the
members of the Board and Government Nominees last year. He expressed
hope that they will continue to give their support and co-operation during
the current year also.
3. Proposed by Seth Rasiklal Maneklal and supported by Seth Ashokkumar
G.Fozdar it was unanimously resolved to elect Seth Mathradas Samaldas as
the Vice-President.
4. Proposed by Seth Hiralal Girdharlal and supported by Seth Purshottam
Gopiram Ruiya it was unanimously resolved to elect Shri Vasantlal
Champaklal as the Hon. Treasurer.
5. Resolved to support Sir Shapoorji Broacha Brokers’ Fund Committee
consisting of S/Shri J.R. Motishaw, Mathradas Samaldas, Vasantlal
Champaklal and Dhirajlal Maganlal.
6. Resolved that the undermentioned persons should be appointed as
members of the Arbitration Committee for the year 1975-76:
Shri Keki N. Chinoy Shri S.M. Shah Shri Jayantilal M. Dalal Shri Nagindas Trambaklal Shri Champaklal Babubhai Marfatia Shri V.K. Nanavati Shri M.L. Kaji Shri Jayendra D. Mehta Shri L.N. Kapadia Shri Rasiklal S. Jhaveri Shri D.V. Shukla Shri Govindbhai G. Amin Shri Hariram Dwarkadas Shri Jitendra Champaklal
Mashruwala Shri Bhagubhai Amthalal Gandhi Shri Ramdas Lallubhai
7. Resolved that the Defaulters Committee for the year 1975-76 consisting of
the undermentioned members be appointed:
Seth J.R. Motishaw Seth Keki N. Chinoy
Seth Vasantlal Champaklal Seth Jayantilal Mansukhlal Dalal
Seth Vasantlal Kantilal Shah Seth Rasikal S. Jhaveri
8. Resolved to appoint a Building Committee consisting of S/Shri Mathradas
Samaldas, Laldas Jamnadas, J.R. Motishaw, Rasiklal Maneklal, Vasantlal
Kantilal Shah, Jasvantlal Chhotalal and Gordhandas Bhagwandas.
9. Resolved that cheques be signed by the President, Shri Jayant Amerchand
or the Chairman Shri P.J. Jeejeebhoy, or the Vice-President Shri Mathradas
Samaldas, or the Hon-Treasurer Shri Vasantlal Champaklal and any one of
the following seven members of the Governing Board namely Shri Rasiklal
Maneklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri B.M.
Gandhi, Shri Vasantlal Kantlal Shah, Shri Jasvantlal Chhotalal and Shri A.R.
Mahadevia and be countersigned by the Secretary, Shri A.J. Shah.
10. Resolved that the various accounts and safe custody accounts of the
Exchange with Bank of India be operated on jointly by the President, Shri
Jayant Amerchand, or the Chairman Shri P.J. Jeejeebhoy or the Vice-
President Shri Mathradas Samaldas or the Hon-Treasurer Shri Vasantlal
Champaklal and by any one of the following seven members of the
Governing Board namely Shri Rasiklal Maneklal, Shri Navinchandra C.
Kampani, Shri Hiralal Girdharlal, Shri B.M. Gandhi, Shri Vasantlal Kantilal
Shah, Shri Jasvantlal Chhotalal and Shri A.R. Mahadevia and be
countersigned by the Secretary Shri A.J. Shah.
11. Resolved that the Current Accounts and safe custody accounts with Bank of
India in the name of the Stock Exchange Staff Provident Fund and the
Stock Exchange Staff Gratuity Fund be operated on either by any two of
the Trustees of the Exchange for the time being or the survivors or survivor
of them or jointly by the Hon-Treasurer Shri Vasantlal Champaklal and by
any one of the following seven members of the Governing Board namely
Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani, Shri Hiralal
Girdharlal, Shri B.M. Gandhi, Shri Vasantlal Kantilal Shah, Shri Jasvantlal
Chhotalal and Shri A.R. Mahadevia and be countersigned by the Secretary
Shri A.J. Shah.
12. The application dated 23-2-75 of The Poona School and Home For the Blind
was considered and it was resolved to give help of Rs. 105/-from the
Association Fund.
13. The application of the undermentioned persons of our office staff to give
them assistance towards the expenses incurred by them for medical
treatment during their sickness were considered and it was resolved to give
them assistance as shown against their names from “Seth K.R.P. Shroff
Stock Exchange Sarvajanik Fund”:
Shri T.G. Prabhu Rs.100/-
Sepoy Pandurang Ilu Rs. 70/-
14. The application of the undermentioned persons of our office staff for giving
them loans were considered and it was resolved to give each of them a
loan of the amount shown against their respective names:
Shri G.S. Tope Rs. 1000/-
Shri Vijay Narayan Rs. 1500/-
Shri Gopinath Govind Rs. 50/-
Shri Shantaram Narayan Rs. 1500/-
Shri Govind Mahadev Khatale Rs. 1000/-
Shri Tukaram Laxman Rs. 2000/-
15. The letters of the undermentioned members were read and it was resolved
to give them permission to do business as Representative Member as
shown below:
Nominating Member Representative Member
Shri Shivkishan M.Damani M/s Maniklal Mohta
Shri Ramanlal D. Shah Shri Jayantilal D. Sanghvi
16. The letter dated 18-3-75 of Smt. P.P. Shah and others was considered and
it was resolved to give permission to Shri Vijaykumar P. Shah to continue
the business of the late Shri P.L. Shah for two months more.
17. The letter dated 14-3-74 of Smt. Jayvanti Narandas and S/Shri
Vijaychandra N. Cantol and Dilipkumar N. Cantol was considered and it was
resolved to give permission to Shri Vijaychandra Narandas Cantol to
continue the business of M/s Narandas & Sons for two months more.
18. The letter dated 18-4-75 of S/Shri P.M. Choksey, R.D. Choksey and K.R.
Choksey and Smt. Pushpavati Choksey was considered and it was resolved
to give them permission to continue the business of M/s Choksey & Co., for
a period of three months.
19. The President referred to the Resolution passed in the meeting of the
Governing Board of the Stock Exchange held on 22nd of July, 1974 which
resolved that the Stock Exchange should borrow and avail of a sum of
Rs.15,00,000/- by way of Demand Loan from Bank of India and reported
that the Stock Exchange has approached Bank of India fro an additional
Loan of Rs.2,50,000/- which is unutilised portion of the original limit of Rs.
17.50 lacs sanctioned by the Bank to finance purchase of Magnetic Taper
Transports. The President requested the Governing Board to pass requisite
resolutions to avail of the loan facility from Bank of India.
IT WAS RESOLVED AS FOLLOWS:
1. THAT the Stock Exchange do borrow a further sum upto Rs.2,50,000/-
by way of Demand loan from the Bank of India on the terms, conditions
and security mentioned below.
Limit: Rs.2,50,000/- (unutilised portion of original limit of Rs.17.50 lacs
sanctioned by the Bank)
Term: DEMAND – Without prejudice to the demand nature of the loan, it is
to be repaid within a period of 5 years by annual instalments of Rs.
3.50 lacs each commencing one year after the date of first
disbursement of the loan i.e. from 26-7-1975.
Rate of Interest : 61/4% over Bank Rate minimum 151/4% per annum with
quarterly rests, or any other rate/s notified by the
Bank from time to time.
Security : 1. Demand Promissory Note for Rs. 2,50,000/- and interest at
the rate aforesaid to be executed by the Stock Exchange in
favour of the Bank.
2. Continuing Security Agreement;
3. Supplemental Deed of Hypothecation of Electronic
equipment.
Margin : 15%
2. THAT as security for due repayment of the said loan and interest at the
rate aforesaid or any other rate/s notified by the Bank from time to time,
the Stock Exchange do execute in favour of the Bank the documents
referred to below, viz.
a) Demand Promissory Note for Rs.2,50,000/- and interest at the rate
aforesaid in favour of the Bank;
b) Letter of continuing security;
c) Supplemental Deed of Hypothecation of electronic equipment
in terms of the forms of these documents which are produced to the
Governing Board.
3. THAT the said documents, viz.,
i) Demand Promissory Note for Rs. 2,50,000/-
ii) Letter of Continuing Security;
iii) Supplemental Deed of Hypothecation
be signed on behalf of the Stock Exchange by Shri Jayant Amerchand the
President and Shri Vasantlal Champaklal Member of the Governing Board
and countersigned by the Secretary A.J.Shah and the seal of the Exchange
be affixed thereto and that such documents be thereafter delivered to the
Bank.
4. THAT the Stock Exchange hereby declares and assures the Bank that its
total borrowings including the loan facility mentioned above are within
the borrowing limit sanctioned by the resolution passed at the General
Body meeting of the Members of the Stock Exchange held on the 31st
day of August, 1971 viz: Rs.2,50,000/-
5. THAT the said loan account be operated upon and instructions
concerning the same may be given by and any acknowledgements or
confirmations of debt and/or security which may be required by the
Bank from time to time may be executed on behalf of the Stock
Exchange by the President and a Member of the Governing Board and
countersigned by the Secretary of the Stock Exchange.
6. AND THAT a copy of the foregoing resolutions certified to be a true copy
by the President be furnished to the Bank.
20. Resolved that if necessary, arrangements should be made for obtaining a
loan of Rs. 20 to 25 lakhs from the Central Bank of India against the
Vanadium Steel, Tore Steel etc.
Further resolved that in this connection the resolutions as under should be
passed:
1) RESOLVED that arrangement be made with the Central Bank of
India for a cash credit of Rs.2.5 lakhs against hypothecation of iron
and steel materials with margin and interest as may be fixed by the
Bank from time to time.
2) Also resolved that all necessary documents as may be required by
the Bank be executed on behalf of the Exchange by the President , a
member of the Governing Board and the Secretary and the seal of
the Exchange be affixed thereon.
3) Also resolved that it may be confirmed to the Bank that these
borrowings are within the borrowing powers of the Governing Board
under the Rules, Bye-laws and Regulations of the Exchange.
21. Resolved that a new Current Account be opened with the Central Bank of
India in the name of “The Stock Exchange” and be operated on jointly by
the President, Shri Jayant Amerchand, or the Chairman Shri P.J.
Jeejeebhoy or the Vice-Presidnet Shri Mathradas Samaldas or the Hon-
Treasurer Shri Vasantlal Champaklal and by any one of the following six
members of the Governing Board namely Shri Jivanchand Ratanchand
Motishaw, Shri Rasiklal Maneklal, Shri Hiralal Girdharlal, Shri B.M. Gandhi
Shri Vasantlal Kantilal and Shri Jasvantlal Chhotalal and be countersigned
by the Secretary, Shri A.J. Shah.
22. The application dated 14-3-75 of the near relatives of the late Shri Jal J.
Guzder nominating Shri Baldevdas Ramchand Raheja as a member of the
Exchange in the place of the late Shri Jal J. Guzder was considered and
after interviewing Shri Baldevdas Ramchand Raheja and his recommenders
S/Shri C.S. Goenka and N.C. Lodhiwala it was resolved by 13 votes in
favour and one against to elect Shri Baldevdas Ramchand Raheja as a
member of the Exchange in the place of the late Shri Jal J. Guzder, subject
to the Rules and Regulations of the Exchange.
23. The application dated 31-3-75 of the near relatives of the late Shri
Pravinchandra Laxmidas Shah nominating Shri Vijaykumar Pravinchandra
Shah as a member of the Exchange in the place of the late Shri
Pravinchandra Laxmidas Shah was considered and after interviewing Shri
Vijaykumar Pravinchandra Shah and his recommenders S/Shri Kantilal
Chhaganlal and Priyakant M. Dalal it was resolved by 14 votes in favour
and none against to elect Shri Vijaykumar Pravinchandra Shah as a
member of the Exchange in the place of the late Shri Pravinchandra
Laxmidas Shah, subject to the Rules and Regulations of the Exchange.
24. The letter dated 8-4-75 of The Vazir Sultan Tobacco Co.Ltd., for the trading
lot of their equity shares from 100 shares to 50 shares was considered and
it was resolved to change the trading lot of the equity shares of that
Company and make it of 50 shares.
25. The letter dated 20-3-75 of Allied Steels Ltd., was considered and it was
unanimously resolved that in view of the facts that the Auditors have
certified receipt of the minimum subscription mentioned in the Prospectus,
after allotment of the shares no application has been withdrawn and refund
demanded and the company’s shares have been admitted in the list of the
Calcutta Stock Exchange since long, the Equity and Preference Shares of
the Company should be included in our list of securities traded on the
Exchange and dealings in those shares should be made in lots of 50 shares
and 5 shares respectively.
26. The letter dated 14-3-75 of Mohta and Heckel was considered and it was
unanimously resolved that if the Company pays the arrears of the Annual
Listing Fee for the year 1974 and the initital Listing fee for re-admission of
its shares to the official list as well as the Annual Listing Fee for the year
1975, then its shares should be re-admitted to our list of securities traded
on the Exchange.
27. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us, their securities mentioned against
their respective names should be admitted to our list of Non-Cleared
securities traded on the Exchange and dealings in those securities should
be done in the trading lots against their names:
Urvi Investments Ltd. Equity 50 shares Willard India Ltd. Equity 50 shares Willard India Ltd. Preference 5 shares Gangappa Cables Ltd. Equity 50 shares Gangappa Cables Ltd. Preference 5 shares Trisur India Ltd. Equity 50 shares Eastern International Hotels Ltd. Equity 50 shares Behar Hotels Ltd. Equity 50 shares Behar Hotels Ltd. Preference 5 shares Behar Foundary & Castings Ltd. Equity 50 shares Globe Auto (Gujarat) Ltd. Equity 50 shares Otis Elevators Co. (India) Ltd. Equity 50 shares Sika Breweries Ltd. Equity 50 shares Scooter India Ltd. Equity 50 shares Vazir Sultan Tobacco Co. Ltd. New Equity 50 shares Industrial Credit and Investment Corporation of India Ltd.
61/4% Debentures (1985).
Maharashtra Electricity Board 43/4% Debentures (1975) 5% Debentures 1976 53/4% Debentures 1977 53/4% Debentures 1976 53/4% Bonds 1978 Second
series 6% Bonds 1979 6% Bonds 1980 6% Bonds 1980 second
series
6% Bonds 1981 6% Bonds 1981 second
series 6% Bonds 1981 third series 6% Bonds 1982 6% Bonds 1983 6% Bonds 1983 second
series 6% Bonds 1984 6% Bonds 1985 6% Bonds 1985 second
series 61/4% Bonds 1986
28. Unanimously resolved that as the undermentioned securities have been
redeemed, they should be removed from our list of securities traded on the
Exchange:
New Standard Engineering Co. Ltd. 9% Cumulative Redeemable Preference Shares
Hindustan Everest Tools Ltd. 9.5% Cumulative Preference Shares
Indian Aluminium Co. Ltd. 61/4% Debentures 1970-75 The Bombay Dyeing and Manufacturing Co. Ltd.
7% Debentures 1973-75
29. As India Firebricks and Insulation Co. Ltd., has not yet paid the Annual
Listing fee for the year 1974, the question of removing its shares from our
list of securities traded on the Exchange was discussed and it was
unanimously resolved that the company should be given time upto 21-5-75
for paying the Annual Listing Fee for the years 1974 and 1975 and it does
not pay that Annual Listing Fee till then, the shares should be removed
from our list of securities traded on the Exchange.
30. As Haryana Breweries does not give any reply to our letters, the question
of removing its shares from our list of securities traded on the Exchange
was discussed and it was resolved to warn the Company again and if no
satisfactory explanation is received from the Company within one month,
the matter should again be brought before the Board.
31. Unanimously resolved that as Deccan Farm and Distilleries has not still
completed the listing requirements and has shown carelessness in
furnishing the clarifications called for by us and has also failed to settle the
complaints about which we have written to it, approval given to its listing
application should be withdrawn.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 17-6-75
Tuesday, 17-6-75 Meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 P.M. under the Chairmanship of Seth Jayant Amerchand wherein the under mentioned members of the Board were present: Seth Jayant Amerchand Seth J. R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra Chhaganlal Kampani Seth Vasantlal Champaklal Seth A. R. Mahadevia Seth Vasantlal Kantilal Shah Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Ashok Girdharilal Fozdar Seth Hiralal Girdharlal Seth Purshottam Gopiram Ruiya Seth Jayantilal Rangildas Khandwala
Government Nominees Shri. M. C. Bhatia Shri M. R. Mayya Shri S. C. Bafna
The following business was transacted in the meeting: 1. The application for help dated 1-6-75 of the The Edulji Framji Allbless Leprosy
Home, Trombay for help was considered and it was resolved to give it a
donation of Rs. 101/- from the Association Funds.
2. Applications of the undermentioned persons of our office staff for giving them
loan was considered and it was resolved to give them loan of the amounts
mentioned against their respective names below:
Shri J.L. Quodros Rs. 1500/-
Sepoy Balkrishna Shinde Rs. 500/-
Sepoy Balkrishna Yeshwant Rs. 1400/-
Watchman S.K.Tal Rs. 1000/-
Hamal Dhonda Shripat Rs. 1000/-
Sewwper Bhagwandas Tiloo Rs. 1200/-
3. The letter dated 27-4-75 of S/Shri Chandratandas Ramratandas Bagri,
Dilipkumar Chandratandas Bagri, Shravankumar Ramkrishna Bagri and
Bharatkumar Chandratandas Bagri, was read and it was noted that Shri
Shravankumar Ramkrishna Bagri had separated from the firm of M/s C.R.D.
Bagri and sons.
4. The application dated 12-5-75 of S/Shri Ratilal Kasturchand and Deepak Ratilal
for partnership between them was considered and it was resolved that the
partnership between them under the firm name of M/s Ratilal Kasturchand
should be approved with effect from 12-5-75.
5. The letters dated 27-5-75 of S/Shri Ramanlal D. Shah and Nagindas Keshavlal
Sanghvi were read and it was resolved to confirm the permission given to Shri
Nagindas Keshavlal Sanghvi to do business as a Representative Member of Shri
Ramanlal D. Shah.
6. The letter dated 19-4-75 of Smt. Sushilal Virendra Dalal was considered and it
was resolved to give permission to Shri Bhogindra Gokaldas Dalal to conditnue
the business of the late Shri Virendra Gokaldas Dalal for 3 months.
7. The letter dated 22-4-75 of Smt. Sushila Brijmohan Nemani and Kum. Nandinin
Brijmohan was considered and ite was resolved to give permission to Shri
Kantilal Hirachand Doshi and Shri Satyanarayan Laxminarayan Sharma to
continue the business of M/s Shivnarayan Nemani for 3 months.
8. The letter dated 5-5-75 of S/Shri V.B. Maniar and P.B.Maniar was read and it
was resolved to give them permission to continue the business of the late Shri
Bapulal Jivraj Maniar for one more month.
9. The letter dated 17-5-75 of S/Shri Jitendra Ratilal and Deepak Ratilal , Smt.
Indumati Ratilal and Kum. Nita Ratilal was considered and it was resolved to
give permission to Shri Deepak Ratilal to continue the business of the late Shri
Ratilal Kasturchand for 3 months.
10. The letter dated 19-5-75 of Smt. Jayanti Narandas and S/Shri Vijaychandra
Narandas Cantol and Dilip Narandas Cantol was considered and it was resolved
to give permission to Shri Vijaychandra Narandas Cantol to continue the
business of M/s Narandas & Sons for one more month.
11. The letter dated 20-5-75 of Smt. Laxmibai Dattaram Patkar and S/Shri Narhar
Dattaram Patkar, Suresh Dattaram Patkar and Anandkumar Dattaram Patkar
and Kum. Alka Dattaram Patkar was considered and it was resolved to give
permission to Shri Narhar Dattaram Patkar to continue the business of M/s A.B.
Patkar & Co., for a period of 3 months.
12. The application dated 19-5-75 of the near relatives of the late Shri Narandas R.
Cantol nominating Shri Vijaychandra Narandas Cantol as a member of the
Exchange in the place of the late Shri Narandas R. Cantol was considered and
after interviewing Shri Vijaychandra Narandas Cantol and his recommenders
S/Shri Virendra K. Patel and Hiralal Chunilal it was resolved by 15 votes in
favour and none against to elect Shri Vijaychandra Narandas Cantol as a
member of the Exchange in the place of the late Shri Narandas R. Cantol,
subject to the Rules and Bye-laws of the Exchange.
13. The application dated 14-5-75 of Shri Soli Rustomji Mahimwala nominating Shri
Upendra Motilal Dalal as a member of the Exchange in his own place was
considered and after interviewing Shri Upendra Motilal Dalal and his
recommenders S/Shri Nagindas Pranjivandas and Sevantilal Kantilal it was
resolved by 15 votes in favour and none against to elect Shri Upendra Motilal
Dalal as a member of the Exchange in the place of Shri Rustomji Mahimwala,
subject to the Rules and Bye-laws of the Exchange.
14. The application dated 22-5-75 of the near relatives of the late Shri Dhirajlal
Kalidas Choksey nominating Shri Ramesh Dhirajlal Choksey as a member of the
Exchange in the place of the late Shri Dhirajlal Kalidas Choksey was considered
and after interviewing Shri Ramesh Dhirajlal Choksey and his recommenders
S/Shri Pankaj Ishwarlal Kapadia and Champaklal Babubhai Marfatia it was
resolved by 15 votes in favour and none against to elect Shri Ramesh Dhirajlal
Choksey as a member of the Exchange in the place of the late Shri Dhirajlal
Kalidas Choksey, subject to the Rules and Bye-laws of the Exchange.
15. The application dated 22-5-75 of the near relatives of the late Shri Virendra
Gokaldas Dalal nominating Shri Kishan Ratilal Choksey as a member of the
Exchange in the place of the late Shri Virendra Gokaldas Dalal was considered
and after interviewing Shri Kishan Ratilal Choksey and his recommenders
S/Shri Shirish Chimanlal Dave and Champaklal Babubhai Marfatia it was
resolved by 15 votes in favour and none against to elect Shri Kishan Ratilal
Choksey as a member of the Exchange in the place of the late Shri Virendra
Gokaldas Dalal, subject to the Rules and Bye-laws of the Exchange.
16. The application dated 29-5-75 of Shri Jayantilal Jadowji nominating Shri
Vishwanath Mangilal Jhunjhunwala as a member of the Exchange in his own
place was considered and after interviewing Shri Vishwanath Mangilal
Jhunjhunwala and his recommenders S/Shri Bhupendra Chamaklal Dalal and
Debidutt K. Modi it was resolved by 14 votes in favour and none against to
elect Shri Vishwanath Mangilal Jhunjhunwala as a member of the Exchange in
the place of Shri Jayantilal Jadowji, subject to the Rules and Bye-laws of the
Exchange.
17. Resolved that we should take a loan giving our 8% debentures stock 1981-86 as
co-lateral security.
18. Unanimously resolved that the undermentioned securities should be struck off
our list of securities traded on the Exchange as they have been redeemed:
Jugilal Kamlapeth Cotton Spg. & Wvg., Mills Co.Ltd.
81/2% cumulative redeemable preference shares.
The Amalgamated Electricity Co.Ltd. 51/2% and 5% Preference shares. 19. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us, their securities mentioned against
their respective names should be admitted to our list of Non-Cleared
securities traded on the Exchange and dealings in those securities should
be done in the trading lots against their names:
The Southern Borax Ltd. Equity 50 shares Steel and Fasteners Ltd. Equity 50 shares Steel and Fasteners Ltd. Preference 5 shares Guarat Alkalines and Chemicals Ltd. Equity 50 shares J.K. Industries Ltd. Equity 50 shares J.K. Industries Ltd. Preference 5 shares Bohringer Knoll Ltd. Equity 50 shares Diamond Dies & Mfg. Corporation Ltd. Equity 50 shares Rathi Mini Steel Ltd. Equity 50 shares Special Steels Ltd. 11% Reedemable
Convertible Preference Shares – 5 shares
20. Resolved that a notice should be placed as under:
“All the members of the Exchange are hereby informed that the Governing
Board has resolved that if no special condition is made when entering into ex-
dividend transactions in any shares now and hereafter, then such transactions
will be regarded as having been done subject to the following conditions:
Except the transactions entered into on cum-dividend basis in any shares before
transactions in those shares become ex-dividend, which are recorded and
continued at ex-dividend price after making adjustment of dividend, whichever
other ex-dividend transactions are entered into should be settled considering
the price at which they are entered into as the final ex-dividend price. Even if
any change takes place or is made afterwards in the dividend on those shares,
the buyer or the seller will not have any liability for the difference in dividend
caused thereby.
Further, in respect of the cum-dividend transactions which are settled after
closures of the company’s register of members payment/ receipt of the net
dividend should be made on the basis of the dividend originally declared by the
Company. However, if the declared dividends is changed before it is paid then
payment / receipt of net dividend should be made on the basis of the revised
dividend. Similarly, in respect of the cum-dividend transactions conditnued on
ex-dividend basis as mentioned above in the beginning, the buyers and the
seller will be mutually liable to each other and will have to pay such difference in
dividend. The adjustment of dividend accordingly will be considered as final and
if any change is made after its payment, the buyer and the seller will not be
liable for it in any manner”.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President Dt: 19-8-75
Tuesday, 19-8-1975
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.30 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Rasiklal Maneklal Seth Phiroze J. Jeejeebhoy Seth Navinchandra C. Kampani Seth Mathradas Samaldas Seth A.R. Mahadevia Seth Vasantlal Champaklal Seth Babubhai Maganlal Gandhi Seth Vasantlal Katilal Shah Seth Chhotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Purshottam Gopiram Ruiya Seth J.R. Motishaw Seth Jayantilal Rangildas Khandwala
Government Nominees Shri M.R. Mayya Shri M.C. Bafna
The following business was transacted in the meeting: 1. The application dated 18-6-75 of the Indian Red Cross Society for help was
considered and it was resolved to give it help of Rs.101/- from “Seth K.R.P.
Shroff Stock Exchange Sarvajanik Fund”.
2. The application dated 9-6-75 of Masina Hospital for help was considered
and it was resolved to give it help of Rs.501/- from Seth K.R.P. Shroff
Stock Exchange Sarvajanik Fund.
3. The representation dated 12-8-75 and signed by 108 Members for keeping
the market closed on Saturday 6-9-75 as it is the Jain Holiday of Mahavir
Swami’s Birthday celebrations on Tuesday 9-9-75 as it is Association
Holiday of Samvatsari was considered and it was resolved to keep the
market closed on those days entirely for all kinds of business.
4. The application of the undermentioned persons of our office staff for giving
them loans were considered and it was resolved to give each of them a
loan of the amount shown against their respective names:
Sepoy Vilas Gyandev Rs. 1250/-
Sepoy Madhukar Bhiwa Rs. 3500/-
Sepoy D.S. Sarmalkar Rs. 1600/-
Liftman Sitaram Vithal Rs. 1000/-
Hamal Sambhaji Ganpat Rs. 2000/-
5. The letter dated 22-7-75 of S/Shri Kanchanlal Hiralal Nanavati, Niranjan
Kanchanlal Nanavati and Pravinchandra Hirlal Nanavati was read and it was
noted that Shri Pravinchandra Hiralal Nanavati has separated from the firm
of M/s Hiralal Nanavati from 1-7-75.
6. The applications for the undermentioned partnerships were considered and
approved:
Partnership firm’s name Name of Partners Date of Partnership
M/s M.K. Choksey & Co. Shri Ramesh Dhirajlal Choksey 3-7-75
Shri Kisan Ratilal Choksey
Shri Pravin Mangaldas Choksey
Shri Ashok Ratilal Choksey
M/s Narandas & Sons Shri Vijaychandra Narandas Cantol 14-7-75
Shri Dilipkumar Narandas Cantol
7. The letter dated 1-7-75 of Smt. Sushila B. Nemani and Kumari Nandini
Brijmohan Nemani was considered and it was resolved to give permission
to Shri Kantilal Hiralal Doshi and Shri Satyanarayan Laxminarayan Sharma
to continue the business of Ms/ Shivnarayan Nemani for two months more.
8. The letter dated 4-8-75 of S/Shri Jitendra Ratilal and Deepak Ratilal, Smt.
Indumati Ratilal and Kumari Nita Ratilal was considered and it was resolved
to give permission to Shri Deepak Ratilal to continue the business of M/s
Ratilal Kasturchand for two months more.
9. The President referred to the Resolution passed in the meeting of the
Governing Board of the Stock Exchange held on 22nd of July, 1974 and 16th
April, 1975 and reported that Bank of India (hereinafter referred to as “the
Bank”) had at the request of the Stock Exchange agreed to continue to
grant to the Stock Exchange demand loan facilities upto a limit of
Rs.17,50,000/- on terms, conditions, and security mentioned below:
Limit: Rs.17,50,000/-
Term: DEMAND – Without prejudice to the demand nature of the loan, it is
to be repaid within a period of 5 years by annual instalments of Rs.
3.50 lacs each commencing from 26-7-1976.
Rate of Interest : 81/4% over Bank Rate minimum
151/4% per annum with quarterly rests.
Security : 1. Demand Promissory Note by the Stock Exchange in favour of
the Bank.
2. Continuing Security Agreement;
3. Letter of Lien & Set-off;
4. Agreement of Hypothecation as modified and enlarged by the
Supplemental Deed of Hypothecation in respect of Electronic
computer and other accessories thereof.
The President requested the Governing Board to pass the necessary
resolutions for continuance of the loan facility to confirm the debit balance
in the account, the documents executed and the security created in favour
of the Bank, in terms of the Form L 444 D sent by the Bank.
IT WAS RESOLVED AS FOLLOWS:
1. THAT the Stock Exchange do continue to borrow from the Bank from
time to time by way of loan facility on terms as aforesaid and repayable on
demand upto a limit of Rs.17,50,000 with interest at 61/4% over bank rate,
minimum 15% per annum with quarterly rests or such other terms and at
such other rate/s of interest, as may be notified by the Bank to the Stock
Exchange from time to time.
2. THAT the Stock Exchange do confirm and acknowledge the debit balance
in the account, the documents executed and the security created in favour
of the Bank in terms of Form L 444D sent by the Bank and that in token of
such confirmation and acknowledgement the Common seal of the Stock
Exchange be affixed to the said Form L 444D in presence of and the same
may be signed on behalf of the Stock Exchange by Mr. Jayant Amerchand
President and Mr. Jivanchand Ratanchand Motishaw Member of the
Governing Board and countersigned by Mr. Amritlal Jashraj Shah Secretary
of the Stock Exchange.
3. THAT the said loan account be operated upon and instructions
concerning the same may be given by any acknowledgement or
confirmations debt and/ or security which may be required by the Bank
may be given on behalf of the Stock Exchange as heretofore.
4. AND THAT a copy of the foregoing resolution certified to be a true copy
by the President be furnished to the Bank.
10. “(1) Resolved that arrangement be made with the Bank of Karad
Ltd., for a cash credit limit of Rs.8.50 lakhs against deposit of the 8%
Debenture Stock 1981-86 of the Stock Exchange as collateral security.
(2) Also resolved that all necessary documents as may be
required by the Bank be executed on behalf of the Exchange by the
President, a Member of the Governing Board and the Secretary and the
Seal of the Exchange be affixed thereon.
(3) Also resolved that a cast credit account be opened with The
Bank of Karad Ltd., and be operated on jointly by the President, Shri
Jayant Amerchand or the Chairman Shri P.J. Jeejeebhoy or the Vice-
President Shri Matharadas Samaldas or the Hon. Treasurer Shri Vasantlal
Champaklal and by any one of the following six Members of the Governing
Board namely Shri Jivanchand Ratanchand Motishaw, Shri Rasiklal
Maneklal, Shri Hiralal Girdharlal, Shri B.M. Gandhi, Shri Vasantlal Kantilal
and Shri Jasvantlal Chhotalal and be countersigned by the Secretary, Shri
A.J. Shah.”
11. The application dated 5-7-75 of Shri Mahendra Chimanlal Jhaveri
nominating Shri Babubhai Maganlal Jhaveri as a member of the Exchange
in his own place was considered and after interviewing Shri Babubhai
Maganlal Jhaveri and his recommenders S/Shri Dhirajlal Maganlal and
Jitendra Champaklal Mashruwala it was resolved by 15 votes in favour and
none against to elect Shri Babubhai Maganlal Jhaveri as a member of the
Exchange in the place of Shri Mahendra Chunilal Jhaveri subject to the
Rules and Bye-laws of the Exchange.
12. The application dated 17-6-75 of Shri Harjivan Dosabhai nominating Shri
Jitendra Harjivandas as a member of the Exchange in his own place was
considered and after interviewing Shri Jitendra Harjivandas and his
recommenders S/Shri V.N. Parekh and Keshavlal Laxmidas it was resolved
by 15 votes in favour and none against to elect Shri Jitendra Harjivandas
as a member of the Exchange in the place of Shri Harjivan Dosabhai,
subject to the Rules and Bye-laws of the Exchange.
13. The application dated 5-7-75 of the near relatives of late Shri Kantilal
Motiram Vakil nominating Shri Pravin Kantilal Vakil as a member of the
Exchange in the place of the late Shri Kantilal Motiram Vakil was
considered and after interviewing Shri Pravin Kantilal Vakil and his
recommenders S/Shri Bhupendra Champaklal and Jayendra Mehta it was
resolved by 15 votes in favour and none against to elect Shri Pravin
Kantilal Vakil as a member of the Exchange in the place of late Shri Kantilal
Motiram Vakil, subject to the Rules and Bye-laws of the Exchange.
14. The application dated 12-7-75 of the near relatives of late Shri Dattaram
Narhar Patkar nominating Shri Narhar Dattaram Patkar as a member of
the Exchange in the place of the late Shri Dattaram Narhar Patkar was
considered and after interviewing Shri Narhar Dattaram Patkar and his
recommenders S/Shri Pratapsinh Purshottam and V.D. Vyas it was
resolved by 15 votes in favour and none against to elect Shri Narhar
Dattaram Patkar as a member of the Exchange in the place of late Shri
Dattaram Narhar Patkar, subject to the Rules and Bye-laws of the
Exchange.
15. Unanimously resolved that as the undermentioned companies have not still
paid the Annual Listing Fee for the year 1975 though repeatedly
demanded, their shares should be removed from our list of securities
traded on the Exchange with effect from 30-9-75 if they fail to pay that fee
before that date:
Asian Hydrates Ltd. Prestolite of India Ltd. Bhilai Wires Ltd. Surindra Stone Malt Ltd. Bombay Malleable Iron Castings & Allied Industries Ltd.
S.B.Joshi and Co.Ltd.
Bruton and Co. Engineers Ltd. Toshiba Anand Lamps Ltd. Bhopal Toughened Glass Works Ltd.
Vigyan Industries Ltd.
Century Metals Ltd. Vidharba Glass Works Ltd. Dharwar Electrical Industries Ltd. Western India Glass Works Ltd. Jaipur Metals and Electricals Ltd. Mysore Breweries Ltd. Northern India Glass Co.Ltd. Omega Locks & Typewriters Ltd.
16. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us, their securities mentioned against
their respective names should be admitted to our list of Non-Cleared
securities traded on the Exchange and dealings in those securities should
be done in the trading lots against their names:
Kirti Investments Ltd. Equity 50 shares Peninsular Investments Ltd. Equity 50 shares Vikrant Tyres Ltd. Preference 5 shares Vikrant Tyres Ltd. Equity 50 shares Upper India Bearings and Bushings Ltd. Equity 50 shares Uniloids Ltd. Equity 50 shares Maharashtra Electrosmelt Ltd. Equity 50 shares Tinplate Company of India Ltd. Equity 50 shares Indian Dairy Entrepreneurs Agricultural Co.Ltd.
Equity 50 shares
Kumar Bronze Powders Ltd. Equity 50 shares The Pradesiya Industrial and Investment Corporation of Uttar Pradesh Ltd.
10.25% -Rs.1000/- Debentures
National Co-operative Development Co-operation
6% Bonds – 5 Bonds
American Universal Electric (India) Ltd. Equity 50 shares American Universal Electric (India) Ltd. Preference 5 shares Miles India Ltd. Equity 50 shares Assam Petrochemicals Ltd. Equity 50 shares Assam Petrochemicals Ltd. Preference 5 shares Mindea Chemicals Ltd. Equity 50 shares Triveni Sheet Glass Works Ltd. 11% Preference – 5 shares Godfrey Philips India Ltd. Bonus Equity and New
Equity – 50 shares The Industrial Credit and Investment Corporation of India Ltd.
63/4% 1990- Rs. 5000 debentures
17. The Board considered the matter regarding the correspondence done with
the Premier Tyres Ltd., in consultation with the proposed amendments
made in its Articles of Association recently and deferred the matter for
further consideration.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 8-10-75
Wednesday, 8-10-75
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J. R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra Chhaganlal Kampani Seth Laldas Jamnadas Seth A.R. Mahadevia Seth Vasantlal Champaklal Seth Babubhai Maganlal Gandhi Seth Vasantlal Kantilal Shah Seth Chhotalal Devchand Parekh Seth Jasvantlal Chhotalal Seth Ashok Girdharlal Fozdar Seth Hiralal Girdharlal Seth Purshottam Gopiram Ruiya Seth Jayantilal Rangildas Khandwala
Government Nominees Shri M.C. Bhatt Shri M.R. Mayya Shri S.C. Bafna
The following business was transacted in the meeting: 1. The applications of the undermentioned persons of our office staff for giving
them loans were considered and it was resolved to give them loans as shown
below against their names:
Shri Ambujakshan Rs. 1500/-
Shri Ragunath Keshavji Rs. 3000/-
Sepoy Laxman Tukaram Rs. 2000/-
2. The application dated 6-10-75 of Smt. Gulaben Devidas wife of our late
pensioner Devidas Madhavji was considered and it was resolved to gime her
help of Rs.75/- per month for one more year from the Association Fund and to
write to her that such help will not be continued thereafter.
3. The letter dated 2-9-75 of Smt. Basantidevi Ramanlal Mohta and S/Shri
Ramgopal Mohta, Brijmohan Ramanlal Mohta, Nandkishore Ramanlal Mohta
and Rajratan Ramanlal Mohta was considered and it was resolved to give
permission to Shri Rajratan Ramanlal Mohta to continue the business of M/s
R.G. Mohta for 3 months.
4. The letters dated 29-8-75 of M/s D.A. Shah and Sons and Shri T.H. Eidnani
were considered and it was resolved to give permission to Shri T.H. Eidnani to
do business as a Representative Member of M/s D.A. Shah and Sons.
5. The undermentioned partnerships were approved:
Name of Partnership Name of Partners Date of Partnership firm
Firm M/s Narottam B. Jhaveri
Shri Narottam Bhikhubhai Jhaveri Shri Kamal Narottam Jhaveri
1-7-75
M/s K. Motiram Vakil Shri Pravin Kantilal Vakil Shri Mahesh Kantilal Vakil
18-9-75
M/s Nagarmal Saraf Shri Nagarmal Shrinivas Saraf Shri Murarilal Nagarmal Saraf
20-4-75
6. The letter dated 6-10-75 of Shri Sam Chunilal Navandev was considered and it
was resolved to give him permission to do business in the market in his own
name with effect from 3-11-75.
7. The application dated 13-8-75 the near relatives of the late Shri Brijmohan
Surajmal Nemani nominating Shri Anupam Brijmohan Nemani as a member of
the Exchange in the place of late Shri Brijmohan Surajmal Nemani was
considered and after interviewing Shri Anupam Brijmohan Nemani and his
recommenders S/Shri K.M. Nemani and Ramniklal Nanalal it was resolved by
15 votes in favour and none against to elect Shri Anupam Brijmohan Nemani
as a member of the Exchange in the place of late Shri Brijmohan Surajmal
Nemani, subject to the Rules and Bye-laws of the Exchange.
8. As the undermentioned companies have paid-up the Annual Listing Fee for the
year 1974 it was unanimously resolved to re-admit their securities to our list
of securities traded on the Exchange:
Surindra Stain Malt Ltd.
The Dharwar Electrical Industries Ltd.
Jaipur Metals and Electricals Ltd.
At this point of time Shri Jasvantlal Chhotalal came and joined the meeting.
9. The listing applications of the undermentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and the special
requirements stipulated by us their undermentioned securities should be
admitted to our list of securities traded on the Exchange and dealings in those
securities should be done in the trading lots shown against their respective
names:
Textile Processing Corporation of India Ltd. Equity 50 shares Textile Processing Corporation of India Ltd. Preference 5 shares Hyderabad Vanaspati Ltd. Equity 50 shares Hyderabad Vanaspati Ltd. 9.5% Preference 5
shares Hyderabad Vanaspati Ltd. 11% Preference 5 shares
Hyderabad Carbons and Chemicals Ltd. Equity 50 shares Hyderabad Carbons and Chemicals Ltd. Preference 5 shares A.E.W. Jenson Ltd. Equity 50 shares Purulia Steels Ltd. Equity 50 shares Rishabh Ispat Ltd. Equity 50 shares Hotel Banjara Ltd. Equity 50 shares Orissa Industries Ltd. Equity 50 shares Apollo Tyres Ltd. Equity 50 shares Apollo Tyres Ltd. Preference 5 shares The State Industrial and Investment Corporation of Maharashtra Ltd.
61/4% Bonds 1985.
Colour Chem Ltd. 11% Preference 5 shares 10. The letter dated 11-8-75 of the Bank of Baroda was considered and it was
unanimously resolved as that company has been amalgamated with Mahindra
Ugine Steel Ltd., its shares should be removed from our list of securities
traded on the Exchange.
11. The letter dated 18-9-75 of the Defaulters’ Committee regarding defaulter Shri
Sobhagyachand Mohanlal Shah was read and noted.
12. The correspondence with the Premier Tyres Ltd., in connection with the
proposed amendments made by the Company recently in its Articles of
Association was considered and that matter was postponed for further
consideration.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 21-10-75
Tuesday, 21-10-75
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Mahradas Samaldas wherein the undermentioned members of the Board were present: Seth Mathradas Samaldas Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Laldas Jamnadas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth Babubhai Maganlal Gandhi Seth Vasantlal Katilal Shah Seth Ashokkumar G. Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya Seth Hiralal Gidharlal Seth Jayantilal Rangildas Khandwala
Government Nominees Shri M.R. Mayya Shri S.C. Bafna
The following business was transacted in the meeting: 1. Seth L.A. Munjal, Jt. Director, Stock Exchange Division, Department of
Economic Affairs, Ministry of Finance was invited and welcomed. The
President thanked him for accepting the invitation and for his august
presence in the meeting. He introduced him to the meeting of the Board.
2. Resolved that our market should be kept open on Monday, 3-11-75 from
S.T. 6.00pm to 7 pm for doing Muhurat transactions for the Kartik Vikram
Samvat 2032.
3. The undermentioned partnership was approved:
Name of the Partnership Firm
Name of Partners Date of Partners
M/s Shivnarayan Nemani
Shri Anupam Brijmohan Nemani Shri Vijaychandra Shrigopal Ganeriwala
23-10-75
M/s Harjivandas Nemidas & Co.
Shri Pranjivandas Harjivandas Shri Prasann Pranjivandas Shri Bharat Pranjivandas Shri Jayant Pranjivandas
23-10-75
M/s Natverlal Champaklal & Co.
Shri Natverlal Balubhai Choksey Shri Kishore Natverlal Choksey Shri Champaklal Balubhai Marfatia Shri Ram Champaklal Marfatia
4-11-75
4. The Report, Income and Expenditure Account and Balance Sheet of our
Association for the year 1974 were passed.
5. The letter dated 9-10-75 of our Auditors, M/s S.B. Bilimoria & Co., asking
for an increase in their remuneration for auditing our Accounts was
considered and it was unanimously resolved to increase their remuneration
and pay them Rs.5000/- per annum from the year 1975 and to make
recommendation to the Governing Board accordingly. Furhter resolved that
for auditing the accounts of the Trust Funds their remuneration should be
increased and fixed as under from the year 1975:
The Stock Exchange Education and Research Services
Rs. 500/-
The Stock Exchange Foundation Rs. 500/- Seth K.R.P.Shroff Stock Exchange Sarvajanik Fund Rs. 250/- Shri M.C. Mehta Smarak Fund Rs. 250/- Distress Relief Fund Rs. 50/- Famine Relief Fund Rs. 50/- Charity Fund Rs. 50/- Seth Shantilal Jamnadas Smarak Fund Rs. 50/- Seth M.C. Baxi Prize Fund Rs. 50/-
6. Unanimously resolved that as the undermentioned securities have been
redeemed, they should be removed from the list of securities traded on the
Stock Exchange:
Hindustan Petroleum Corporation Ltd.
6% preference shares
The Industrial Credit and Investment Corporation of India Ltd.
6% debentures (1975-77)
7. As the undermentioned companies have paid the Annual Listing fee for the
year 1974 it was unanimously resolved to re-enter their securities for
trading on the Exchange:
Bhopal Toughened Glass Works Ltd.
Brunton & Co. Engineers Ltd.
Asian Dehydrates Ltd.
8. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us, their securities mentioned against
their respective names should be admitted to our list of Non-Cleared
securities traded on the Exchange and dealings in those securities should
be done in the trading lots against their names:
Sugar Investments Ltd. Equity 50 shares
Uttar Pradesh Straw and Agro Products Ltd.
Equity 50 shares
Madhya Pradesh Audyogic Vikas Nigam Ltd.
61/4% Bonds (1985).
Dabriwala Steel and Engineering Co.Ltd. 10.25% Debetures 9. The matter regarding the amendments secretly made in the Articles of
Association of Premier Tyres Ltd., as proposed was discussed and Shri
Chandrakant S. Desai, the Chairman of the Company was also heard. It
was resolved that the Board recognised existence of the problem. However,
as the proposed alterations and additions do not appear to be fit for a
public limited listed company and are also likely to have more
repercussions than the object in view, the Company should find out some
other solution and we cannot give approval for the proposed amendments
and alterations.
10. Resolved that an amount of Rs. 6,50,000/- should be given from the Stock
Exchange Education and Research Services Fund to the Stock Exchange
Foundation on condition that half of it namely Rs. 3,25,000/- will be
regarded as corpus.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 3-2-76
Tuesday, 3-2-76
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 P.M. under the Chairmanship of Seth Jayant Amerchand wherein the under mentioned members of the Board were present: Seth Jayant Amerchand Seth Navinchandra Chhaganlal Kampani
Seth Phiroze J. Jeejeebhoy Seth A. R. Mahadevia
Seth Mathradas Samaldas Seth Babubhai Maganlal Gandhi
Seth Vasantlal Champaklal Seth Chhotalal Devchand
Seth J. R. Motishaw Seth Ashok Girdharilal Fozdar
Seth Rasiklal Maneklal Seth Jayantilal Rangildas Khandwala
Government Nominees
Shri M. R. Mayya The following business was transacted in the meeting: 1. Expressing a deep sense of sorrow of the sad demise of the wife of Seth
Babubhai M Gandhi two minutes silence was observed standing up in her
honour.
2. The application for help of the Maharashtra State Amateur Athletic Association
was read and it was resolved to confirm the help of Rs.500/- given to it from
the Association Fund.
3. The applications of the undermentioned organizations were considered and it
was resolved to give each of them Rs.101/- as help from the Association Fund:
1. The Tata Agricultural and Rural Training Centre for the Blind.
2. The Bombay Dumb and Deaf Institution.
3. The Maharashtra Tuberculosis Association.
4. The application dated 30-11-75 of Sarvodaya Arogya Nidhi was considered and
it was resolved that we cannot give any help to it.
5. The application dated 12-12-75 of Shri G.N. Kunder for giving him help of
Rs.160/- for medical treatment expenses incurred by him was considered and it
was resolved to give him help of Rs.80/- from the Seth K.R.P. Shroff Stock
Exchange Sarvajanik Fund.
6. Resolved to give approval to the loan of Rs.3500/- given to our accountant Shri
A.B.Desai and the loan of Rs.2000/- given to our liftman Maruti Govind Gujmal.
7. The application of the undermentioned persons of our office staff to give thme
loans were considered and it was resolved to give loans to them of the amounts
mentioned against their names:
Hamal Ravji Babu Rs.2000/-
Hamal Mahadev Lakhu Rs. 2000/-
Sweeper Khachera Dhureram Rs. 1000/-
8. The letter dated 24-12-75 of S/Shri Noshir Nanabhoy Saher and Babubhai
Maganlal Gandhi was read and it was noted that Shri Babubhai Maganlal Gandhi
had separated from the firm of M/s Merwanjee Bomanji Dalal with effect from
31-12-75.
9. The letter dated 23-11-75 of S/Shri Kantilal Maganlal Purshottamdas and
Ishwarlal Maganlal Purshottamdas was read and it was noted that Shri Kantilal
Maganlal Purshottamdas had separated from the firm of M/s Ishwarlal Kantilal &
Co.
10. The letter dated 11-2-75 of S/Shri Jamnadas Sankalchand and Harivallabhdas
Chunilal was read and it was noted that Shri Harivallabhdas Chunilal had
separated from the partnership firm of M/s Sankalchand Damodardas with effect
from 3-1-76.
11. The letter dated 8-11-75 of S/Shri A.R. Mahadevia, M.S. mahadevia,
V.A.Mahadevia, G.B. Desai, B.J. Mahadevia, A.A. Mahadevia, J.A. Mahadevia
and M.A. Mahadevia was read and it was noted that Shri Hariprasad
Sambhuprasad Mahadevia had separated from the partnership firm of
Mahadevia Brothers with effect from 4-11-75.
12. The application for partnership of S/Shri Jamnalal Maruplal, Sumatilal Jamnalal,
Niranjan Jamnalal, Yogesh Sumatilal and Paresh Sumatilal was considered and it
was resolved to approve their partnership under the firm name of M/s Sumatilal
Jamnalal with effect from 4-11-75.
13. The letter dated 28-10-75 of Shri Jitendra Ratilal, Shri Deepak Ratilal, Smt.
Indumati Ratilal and Kumari Nita Ratilal was read and it was resolved to give
permission to Shri Deepak Ratilal to continue the business of the late Shri Ratilal
Kasturchand for one more month.
14. The letter dated 28-11-75 of Smt. Basantidevi Mohta and S/Shri Ramgopal
Ramanlal Mohta, nandkishore Ramanlal Mohta, Brijmohan Ramanlal Mohta and
Rajratan Ramanlal Mohta was read and it was resolved to confirm the
permission given to Shri Ramgopal Ramanlal Mohta to continue the business of
M/s R.G. Mohta for two more months.
15. The letter dated 2-2-76 of Smt. Hiramati Pranjivandas and S/Shri Prasanna
Pranjivandas Broker,Bharat Pranjivandas Broker, Jayant Pranjivandas Broker
and Hemant Pranjivandas Broker was read and it was resolved to give
permission to Shri Prasann Pranjivandas Broker to continuer the business of M/s
Harjivandas Nemidas & Sons for 3 months.
16. The application of Shri Surendra Motilal Purohit dated 13-11-75 nominating Shri
Vinodkumar Bhagwati Prasad Rungta was a member of the Exchange in his own
place was considered and after interviewing Shri Vinodkumar Bhagwati Prasad
Rungta and his recommenders Shri Brijmohan Sagarmal it was resolved by 10
votes in favour and none against to elect Shri Vinodkumar Bhagwatiprasad
Rungta as a member of the Exchange in the place of Shri Surendra Motilal
Purohit, subject to the Rules and Bye-laws of the Exchange.
Shri A.R. Mahadevia came and joined the meeting at this time.
17. The application dated 28-10-75 of the near relatives of the late Shri Ratilal
Kasturchand nominating Shri Deepak Ratilal as a member of the Exchange in
the place of the late Shri Ratilal Kasturchand was considered and after
interviewing Shri Deepak Ratilal and his recommenders S/Shri Govindbhai B.
Amin and Rasiklal Manilal Shah it was resolved by 11 votes in favour and none
against to elect Shri Deepak Ratilal as a member of the Exchange in the place
of late Shri Ratilal Kasturchand, subject to the Rules and Bye-laws of the
Exchange.
18. The application dated 24-11-75 of the near relatives of the late Shri R.G. Mohta
nominating Shri Ramgopal Ramanlal Mohta as a member of the Exchange in
the place of the late Shri R.G. Mohta was considered and after interviewing Shri
Ramgopal Ramanlal Mohta and his recommender Shri Gaurishankar B.
Churiwala it was resolved by 11 votes in favour and none against to elect Shri
Ramgopal Ramanlal Mohta as a member of the Exchange in the place of late
Shri R.G. Mohta, subject to the Rules and Bye-laws of the Exchange.
19. The letters dated 3-1-76 of M/s Khimji Poonja & Sons and Shri Ramniklal
Mangaldas was read and it was resolved to confirm the permission given to Shri
Ramniklal Mangaldas to do business as a Representative Member of M/s Khimji
Poonja & Sons.
20. The letter dated 21-1-76 of S/Shri Ramniklal Mohanlal and Jeramdas Dulomal
Jasnani were read and it was resolved to give permission to Jeramdas Dulomal
Jasnani to do business as a Representative Member of Shri Ramniklal Mohanlal.
21. The letter dated 2-2-76 of Shri Bipin Ratilal Kapadia wanting to buy one
membership right of the Exchange at a price of Rs. 27500/- was read and it was
resolved to sell one membership right to him at that price and to consider that
membership right as of late Shri Bhaidas Gulabchand.
22. Resolved that the following amendments be made in Appendix B to Regulation 2
of the Stock Exchange Rules, Bye-laws and Regulations, 1957.
In sub-clause ( c) of clause 3 for the words “endorsement of calls”,
“endorsement of calls/ allotment monies” shall be substituted.
In sub-clause (e) of clause 4, for the words “recognized stock exchanges”, the
words “recognized stock exchanges in India” shall be substituted.
In clause 6, after the words “the Company will” and before the words “make on
transfers”, the word “promptly” shall be inserted.
In clause 10, after the words, “Company will” and before the words “verify the
signature”, the word “promptly” shall be inserted.
Clause 16 shall be substituted by the following, namely:
“16. The Company agrees to close its Transfer Books for purposes of
declaration of dividend or issue of right or bonus shares or for such other
purposes as the Exchange may agree to or requires and further agrees to close
its Transfer Books at least once a year at the time of the Annual General
Meeting if they have not been otherwise closed at any time during the year and
to give to the Exchange notice in advance of at least twenty-one days, or of as
many days as the Exchange may form time to time reasonably prescribe,
stating the dates of closure of its Transfer Books (or, when the Transfer Books
are not to be closed, the date fixed for taking a record of its shareholders or
debenture holders) and specifying the purpose or purposes for which the
Transfer Books are to be closed (or the record dated is to be taken) and to send
copies of such notices to other recognized Stock Exchanges in India.”
In clause 19, after the words “bonus issue” and before the words “is due to be
considered”, the words “or the passing over of dividend” shall be inserted.
In sub-clause b) of clause 20, after the word “the” and before the words
“net profits”, the words “total turnover, gross profit/loss, provision for
depreciation, tax provisions and” shall be inserted and the words “with
particulars of the estimated tax liabilities” shall be deleted.
In clause 21, for the words “the dividend warrants” the words
“simultaneously the dividend warrants which shall be encashable at par at all
the branches of its bankers” shall be substituted.
In sub-clause 9a) of clause 31, after the words “are issued”, the words
“and one copy each to all the recognized stock exchanges in India” shall be
inserted.
In sub-clause (e) of clause 31, for the word “reconstruction”, the words
“reconstruction”, reduction of capital” shall be substituted.
After clause 39, at the end, the following proviso shall be inserted, namely:
“PROVIDED ALWAYS AND THE COMPANY HEREBY IRREVOCABLY AGREES
AND DECLARES THAT unless the Exchange agrees otherwise the Company will
not without the previous permission in writing of the Central Government
withdraw its adherence to this agreement for listing its securities”.
23. It was noted that the Chairman had declared M/s Devkaran Nanjee & Co., as a
defaulter as it had failed to meet its liabilities according to the decisions of the
Arbitration Committee against it.
24. The report dated 28-1-76 of Shri Shapurji Broacha Brokers Helping fund
Committee was read and it was approved.
25. Unanimously resolved that as the 7% Debentures Stock 1971/76 of Indian
Aluminum Co. Ltd., has been redeemed it should be removed from our list of
securities traded on the Exchange.
26. As Omega Locks and Typewriters Ltd., had failed to pay the Annual Listing Fee
for the year 1974 it was unanimously resolved to remove its shares from our list
of securities traded on the Exchange.
27. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us, their securities mentioned against
their respective names should be admitted to our list of Non-Cleared
securities traded on the Exchange and dealings in those securities should
be done in the trading lots against their names:
1.Usha Martin Black (Wire Ropes) Ltd. Equity 50 shares
Usha Martin Black (Wire Ropes) Ltd. ‘A’ Preference 5 shares
Usha Martin Black (Wire Ropes) Ltd. ‘B’ Preference 5 shares
2. Jay Electric Wire Corporation Ltd. Equity 50 shares
Jay Electric Wire Corporation Ltd. Preference 5 shares
3. Mahavir Spinning Mills Ltd. Equity 50 shares
Mahavir Spinning Mills Ltd. Preference 5 shares
4. Transport Corporation of India Ltd. Equity 50 shares
5. Sundaram Elex Ltd. Equity 50 shares
6. Denison Hydorlics India Ltd. Equity 50 shares
Denison Hydorlics India Ltd. Preference 5 shares
7. Brindavan Alloys Ltd. Equity 50 shares
Brindavan Alloys Ltd. Preference 5 shares
8. Punjab Con-cast Steels Ltd. Equity 50 shares
9. Derco Cooling Coils Ltd. Equity 50 shares
Derco Cooling Coils Ltd. Preference 5 shares
10. Modern Proteins Ltd Equity 50 shares
11. Investment and Precision Castings Ltd. Equity 50 shares
12. Deccan Wires Ltd. Equity 50 shares
13. Andhra Pradesh Scooters Ltd. Equity 50 shares
14. Marthi Crysttal Salt Co.Ltd. Equity 50 shares
15. Neomar Ltd. Equity 50 shares
16. Hindustan Electro Graphites Ltd. Equity 50 shares
Hindustan Electro Graphites Ltd. Preference 5 shares
17. Shree Minakshi Sundaram Textiles Ltd. Equity 50 shares
18. T.K. Chemicals Ltd. Equity 50 shares
19. Aravalli Swachit Vahan Ltd. Equity 50 shares
20. Katihar Jute Mills Ltd. Equity 50 shares
21. Kamalakshi Finance Corporation Ltd. Equity 50 shares
22. Ashok Leyland Ltd. Equity 50 shares
23. Industrial Finance Corporation of India 73/4% Debentures –
Rs.1000/-.
Industrial Finance Corporation of India 6% Bonds (second series)
28. Holidays of our Association for the year 1976 was decided.
Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President Dt: 18-5-1975
Tuesday, 18-5-76
A meeting of the Governing Board of the Stock Exchange was held at S.T. 3.30 P.M.
under the Chairmanship of Seth Mathradas Samaldas in the beginning and thereafter
under the Chairmanship of Seth Jayant Amerchand wherein undermentioned members of
the Board were present:
Seth Jayant Amerchand Seht Navinchandra Chhaganlal Kampani
Seth Phiroze J. Jeejeebhoy Seth A. R. Mahadevia
Seth Mathradas Samaldas Seth Hiralal Girdharlal
Seth Rasiklal Maneklal Seth Babubhai Maganlal Gandhi
Seth Laldas Jamnadas Seth Jayantilal Rangildas khandwala
Seth J. R. Motishaw Seth Chhotalal Devchand Parekh
Seth Vasantlal Champaklal Seth Vasantlal Jivatlal
Seth Purshottam Gopiram Ruiya
Government Nominees
Shri M. R. Mayya Shri S. C. Bafna
Dr. S. L. Shety ( Alternate)
The following Business was transacted in the meeting
1. Proposed by Seth J. R. Matishaw and supported by Seth Purshottam Gopiram Ruiya,
Seth Mathradas Samaldas was unanimously elected as Chairman of the meeting.
2. Proposed by Seth Mathuradas Samaldas and supported by Seth Rasiklal Maneklal
Seth Jayant Amerchand was unanimously elected as the President.
Seth Mathradas Samaldas handed over the Chairmanship to Seth Jayant Amerchand
and also congratulate the members of the Board.
Seth Jayant Amerchand thanked for the trust reposed in him by all the members of
the Board. He made mention of the appointment of Dr. S. L. Shety as on alternate
Government nominee on the Board and welcomed him.
Expressing a source of gratitude for the support and co-operation by all the members
of the Board and Government nominees last year he expressed hope that during the
current year also they would continue to give support and co-operation on the same
way.
3. Proposed by the Seth Rasiklal Maneklal and supported by Seth J. R. Motishaw Shri
Mathradas Samaldas was unanimously elected as the Vice-President.
4. Proposed by Seth Hiralal Girdharlal and supported by Seth Laldas Jamnadas, Seth
Vasantlal Champaklal was unanimously elected as the Hon. Treasurer.
5. Resolved that the under mentioned members are appointed as members of the
Arbitration Committee for the year 1976-77:
Shri Keki N. Chinoy Shri S. M. Shah
Shri Jayantilal M. Dalal Shri Ngindas Trambakal Parekh
Shri M. L. Kazi Shri V. K. Nanavati
Shri L. N. Kapadia Shri Jayendra D. Mehta
Shri D. U. Shukla Shri Rasiklal S. Jhaveri
Shri Hariram Dwarkadas Shri Govindbhai B. Desai
Shri Bhagubhai Amritlal Gandhi Shri Jitendra Champaklal Mashruwala
Shri Champaklal Babubhai Marfatia Shri Ramdas Lallubhai
6. Resolved to appoint Defaulter’s Committee for the year 1976-77 considering of the
Undermentioned members:
Seth Vasantlal Champaklal Seth Jayantilal Mansukhlal Dalal
Seth Vasantlal Kantilal Shah Seth Rasiklal S. Jhaveri
Seth Jasvantlal Chhotalal Seth Nagindas Trambaklal Parekh
7. Resolved to appoint Sir Shaporji Brocha Brokers Helping Fund committee considering
of the under mentioned members
Seth J. R. Motishaw Seth Vasantlal Champaklal
Seth Mathradas Samaldas Seth Dhirajlal Maganlal
8. Resolved to appoint Building Committee consisting of S/Shri Mathradas Samaldas,
Vasantlal Kantilal Shah and Jasvantlal Chhotalal
9. Resolved that cheques be signed by the President Shri Jayant Amerchand or the
Chairman Shri P. J. Jeejeebhoy or the Vice President Shri Mathradas Samaldas, or
the Hon. Treasurer Shri Vasantlal Champaklal and any one of the following seven
members of the Governing Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra
C. Kampani, Shri Hiralal Girdharlal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah,
Shri Jasvantlal Chhotalal, and Shri A. R. Mahadevia and be countersigned by the
Secretary Shri A. J,. Shah and in his absence by Shri S. N. Karaka or Shri M. D. Vyas.
10. Resolved that the various Accounts and safe Custody Accounts of the Exchange with
Bank of India be operated on jointly by the President, Shri Jayant Amerchand, or the
Chairman Shri P. J. Jeejeebhoy, or the Vice President Shri Mathradas Samaldas, or
the Hon. Treasurer Shri Vasantlal Champaklal and by any one of the following seven
members of the Governing Board namely, Shri Rasiklal Maneklal, Shri Navinchandra
C. Kampani, Shri Hiralal Girdhrlal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah and
Shri A. R. Mahadevia and be countersigned by the Secretary Shri A. J. Shah and in
his absence by Shri S. N. Karaka or Shri M. D. Vyas.
11. Resolved that the Current Accounts and Safe Custody Accounts with the Bank of
India in the name of The Stock Exchange Staff Provident and the Stock Exchange
Staff gratuity Fund be operated on either by any two of the Trustees of the Exchange
for the time being or the survivors of survivor of them or jointly by the Hon.
Treasurer , Shri Vasantlal Champaklal and any one of the following seven members
of the Governing Board namely, Shri Rasiklal Maneklal, Shri Navinchandra C.
Kampani, Shri Hiralal Girdharlal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah, Shri
Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned by the
Secretary, Shri A. J. Shah, and in his absence by Shri S. N. Karaka or Shri M. D.
Vyas.
12. The application dated 31.01.76 for help of the All India Federation of the Deaf was
considering and it was resolved to give at the help of Rs. 101/- from the Association
Fund.
13. The applications dated 6-4-76 and 6-5-76 of our havaldar Shankar Ratonji and Sepoy
Ramchandra Mahadev respectively for giving them help for the expenses incurred by
them for medical treatment during their sickness were considered and it was resolved
to give help of Rs. 120/- and Rs. 245/- respectively from the Seth K.R.P. Shroff Stock
Exchange Sarvajanik Fund.
14. Resolved to confirm the loan of Rs.2,000/- given to our officer Shri M. D. Vyas.
15. The applications of there undermentioned employees was considered and it was
resolved to give them loans of the amounts mentioned against their respective
names:
Shri KVB Shankar Rao Rs.2,500/-
Shri H. A. Patni Rs.3,000/-
Shri V. K. Sharma Rs.2,700/-
Shri M. K. Shivraman Rs.2,000/-
Shri G. S. Tompe Rs.1,400/-
Liftman Tukaram Laxman Rs.1,100/-
Sepoy Pandurang Ziloo Rs.1,200/-
Sepoy Balkrishna Shinde Rs.750/-
Sepoy Balkrishna Yashvant Rs. 900/-
Sweeper Chhangaram Gangaram Rs.500/-
Sweeper Bhagwandas Tillu Rs.800/-
16. The letter dated 2-7-76 of S/Shri Anupam Brijmohan Nemani and Vijay Kumar Shri
Gopal Ganeriwala was considered and it was resolved to note that Shri Vijay Kumar
Shri Gopal Ganeriwala had separated from the firm M/s. Shivnarayan Nemani and
Shri Brijmohan Nemani had from that date continued to do business as the sole
proprietor of that firm.
17. The application dated 15-4-76 S/Shri Jayantilal Rangiladas Khandwala, Ashok
Jayantilal Khandwala and Paresh Jayantilal Khandwala for their partnership was
considered and it was resolved to approve their partnership under the firm name of
M/s. Jayantilal Khandwala & Sons with effect from 3-5-76
18. The letter dated 15-2-75 of M/s. Mangaldas Keshavlal and Shri Ajitkumar C. Kamdar
were considered and it was resolved to give permission to Shri Ajitkumar C. Kamdar
to do business as a representative member of M/s. Mangaldas Keshavlal on condition
that he should not issue contracts to his clients in his own name.
19. The letter dated 18-5-76 of M/s. D. A. Shah & Sons and Shri Amarchand Lallubhai
Sukhadia were considered and it was resolved to give permission to Shri Amarchand
lallubhai Sukhadia to do business as Representative member of M/s. D. A. Shah &
Sons on considered that Shri Amarchand lallubhai Sukhadia should not issue
contracts to clients to his own name.
20. The letter dated 8-4-76 of Shri J.T. Halai asking for permission to do business in the
market in his own name was considered and it was resolved that his request cannot
be granted and in that connection his attention should be drawn to our letter dated
3-4-74.
21. The application dated 22-4-76 of the near relatives of the late Shri Narottamdas
Bhikhubhai Jhaveri nominating Shri Kamal Marottam Jhaveri as a member of the
Exchange in the place of late Shri Narottamdas Bhikhubhai Jhaveri was considered
and after interviewing Shri Kamal Narottam Jhaveri and his recommenders Shri
Suresh K. Vakil it was resolved by 14votes in favour and none against to elect Shri
Kamal Narottam Jhaveri as a member of the Exchange in the place of late Shri
Narottamdas Bhikhubhai Jhaveri, subject to the Rules Bye-laws of the Exchange.
22. The application dated 4-2-76 of Shri Bipin Kantilal Kapadia for membership of the
Exchange was considered and after interviewing Shri Bipin Kantilal Kapadia and his
recommenders Shri Ishwaelal T. Nanavati, it was resolved by 14 votes in favour and
none against to elect Shri Bipin Kantilal Kapadia as a member of the Exchange,
subject to the Rules and Bye-laws of the Exchange, and membership Right sold to
him should be considered as that of the late Shr Bhaidas Gulabchand
23. The Application dated 26-3-76 of the near relatives of the late Shri Keshav Vasantrao
Raut nominating Shri Bharat Sumant Raut as a member of the Exchange in the place
of late Shri Keshav Vasantrao Raut was considered and after interviewing Shri Bharat
Sumant Raut and his recommender Shri Hiralal Chunilal it was resolved by 14 votes
in favour and none against to elect Shri Bharat Sumant Raut as a member of the
Exchange in the place of late Shri Keshav Vasantrao Raut, subject to the Rules and
Regulations of the Exchange on the condition that he should not do business in the
market in his own name for two years.
24. The application dated 4-2-76 of the near relatives of the late Shri Pranjivandas
Harjivandas nominating Shri Prasanna Pranjivandas Broker as a member of the
Exchange in the place of late Shri Pranjivandas Harjiandas was considered and after
interviewing Shri Prasanna Pranjivandas Broker and his recommenders S/Shri
Dhansukhlal Keshavlal and Manmohandas Keshavlal it was resolved by 14 votes in
favour and none against to elect Shri Prasanna Pranjivandas as a member of the
Exchange in the place of late Shri Pranjivandas Harjivandas, subject to the Rules and
Bye-laws of the Exchange.
25. The letter dated 24-1-76 of the Bhopal Sugar Industries Ltd. requesting for
transferring its shares form the list of cleared securities to the list of non-cleared
securities was considered and it was resolved to place its shares on the list of non-
cleared Securities from 12-6-76
26. Unanimously resolved that as 8.325% Preference shares of Poly Chem Ltd. have
been redeemed they should be struck off our list of securities traded on the
Exchange.
27. The letter of the recommendation companies were considered and it was
unanimously resolved that as they do not want to continue listing of their securities
on the Exchange, their securities should be struck off the list of securities traded on
the Exchange.
28. As Bhilai Wires Limited has paid up the Annual Listing fee for the year 1975 and 1976
it was unanimously resolved to readmit their securities to our list of securities traded
on the Exchange.
29. The listing application of the under mentioned companies were considered and it was
unanimously resolved that, subject to the Listing Rules and Regulations and
compliance with the usual requirements and other special requirements stipulated by
us as may be the deemed proper by the Chairman, their below mentioned securities
admitted to the list of non-cleared securities traded on the Exchange and dealing
therein should be done in trading lots showing against them:
1. Modern Coats Ltd. Equity – 50 Shares
Modern Coats Ltd. Preference – 5 Shares
Modern Coats Ltd. 7 ¾ % Debentures Rs.1,000/-
2 Simon Carves Ltd. Equity – 50 Shares
3 International Combustion India Ltd. Equity – 50 Shares
4 Modella Steel & Alloys Ltd. Equity – 50 Shares
5 Perfect Circle Victor Ltd. Equity – 50 Shares
6 Drilco Metal carbide Ltd. Equity – 50 Shares
7 Sinner Bidi Udyog Ltd. Equity – 50 Shares
8 Coastal Papers Ltd. Equity – 50 Shares
Coastal Papers Ltd. Preference – 5 Shares
9 Veneers & Laminations India Ltd. Equity – 50 Shares
10 Lakshmi Automatic Loom Works Ltd. Equity – 50 Shares
11 Rexroth Maneklal Industries Ltd. Equity – 50 Shares
12 Meckanon Meckenzy & Co. Ltd. Equity – 50 Shares
13 Sunrise Investment Trading Ltd. Equity – 50 Shares
14 Digital Electronics Ltd. Equity – 50 Shares
15 DSP Financial Consultants Ltd. Equity – 50 Shares
16 Polymer Papers Ltd. Equity - 50 Shares
17 Keltron Components Complex Ltd. Equity – 50 Shares
Keltron Components Complex Ltd. Preference – 5 Shares
18 Meena Air Products Ltd. Equity – 50 Shares
Meena Air Products Ltd. Preference – 5 Shares
19 Nirlon Synthetic Fibers and Chemical Ltd. Equity – 50 Shares
20 Kasturi Papers, Foods and Chemical Ltd. Equity – 50 Shares
21 Andhra Pradesh Steel Ltd. Equity – 50 Shares
Andhra Pradesh Steel Ltd. Preference – 5 Shares
22 Maharashtra Electricity Board 6 ¼ % 1985 – Bonds
Maharashtra Electricity Board 6 ¼ % 1985 Bonds (II)
23 The Industrial Credit and Investment
Corporation of India Ltd.
6 ¼ % 1991 Debenture
24 Kirloskar Cummins Ltd. 11 % preference 50 Shares
25 Alfred Herberts India Ltd. New Equity – 50 Shares
Sd/- Sd/- A. J. Shah Jayant Amerchand Secretary President
Date: 20-7-76
Tuesday, 20-7-76
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Champaklal Seth Phiroze J. Jeejeebhoy Seth Navinchandra Chhaganlal Kampani Seth Mathradas Samaldas Seth A. R. Mahadevia Seth Rasiklal Maneklal Seth Hiralal Girdharlal Seth Laladas Jamnadas Seth Babubhai Maganlal Gandhi Seth Vasantlal Kantilal Shah Seth Jayantilal Rangildas Khandwala Seth J. R. Motishaw Seth Chhotalal Devchand Parekh Seth Vasantlal Jivatlal Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya Shri S.C. Bafna Shri S.L. Shetty
The following business was transacted in the meeting: 1. The application for help dated 25-6-76 of Indian Red Cross Society was
considered and it was resolved to give it help of Rs. 101/- from the Association
Fund.
2. The applications of the undermentioned persons of our office staff for giving
them assistance for the expensed incurred by them for medical treatment
during their sickness were considered and it was resolved to give them
assistance from Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund of the
amounts shown against their respective names:
Shri K.J. Joshi Rs. 600/-
Sepoy Gopinath Govind Rs.300/-
3. The application dated 1-7-76 of our Accountant Shri A.B. Desai was read and
as he has left his job with us the sum of Rs. 12,002.53p accumulated in his
Provident Fund account and the gratuity of Rs.7235/- have been paid to him.
This was noted and approved.
4. The application dated 28-6-76 of our former Sepoy Namdev Bhikaji was
considered and it was resolved that as he has left our services, the amount
accumulated in his Provident Fund as welll as his Gratuity of Rs.5846.25 p
should be paid over to him.
5. The application dated 26-5-76 of our pensioner Shri K.B. Daruwala requesting
for increasing his pension was considered and it was resolved to give him help
of Rs.750/- from the Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund.
6. Resolved that Rs.4,00,000/- be paid to the Stock Exchange Foundation from
the Stock Exchange Education and Research Services on condition that half of
it i.e. Rs. 2,00,000/- will be considered as corpus.
7. The letter dated 6-7-76 of Bai Sushila Ashwarlal Nanavati and S/Shri Vinod
Ishwarlal Nanavati, Girish Nanavati and B.K. Kapadia was considered and it
was resolved that Shri Bipin K. Kapadia should be given permission to continue
the business of M/s Ishwarlal T. Nanavati for three months.
8. The letter dated 3-7-76 of S/Shri Indravadan Ranchhoddas Shah and Niranjan
Ranchhoddas Shah was considered and it was resolved to give permission to
Shri Indravadan Ranchhoddas Shah to continue the business of M/s
Ranchhoddas Sheshkaran for 3 months.
9. The applications for the undermentioned partnerships were considered and
approved:
Name of the Partnership firm
Name of Partners Date of Partnership
M/s Hiralal Thakordas Nanavati
Shri Kanchanlal Hiralal Nanavati Shri Pravinchandra Hiralal Nanavati Shri Niranjan Kanchanlal Nanavati
1-4-76
M/s Prabhudas Lilladher
Shri Prabhudas Lilladher Shri Arun Prabhudas Shri Dhiren Prabhudas
8-6-76
M/s Harjivandas Nemidas & Sons
Shri Prasann Pranjivandas Broker Shri Bharat Pranjivandas Broker Shri Jayant Pranjivandas Broker
20-5-76
M/s Bhagwatiprasad Rungta
Shri Bhagwatiprasad Rungta Shri Harikishandas Rungta
19-5-76
M/s Ishwarlal T. Nanavati
Shri Ishwarlal T. Nanavati Shri Vinod Ishwarlal Nanavati Shri Bipin Kantilal Kapadia
20-5-76
10. The letter dated 1-6-76 of M/s Sankalchand Damodardas and Shri Jamnadas
Tulsidas were read and it was resolved to confirm the permission given to Shri
Jamnadas Tulsidas to do business as a Representative Member of M/s
Sankalchand Damodardas.
11. The application dated 7-5-76 of Shri Sabavala Haji Mohamed Merchant
nominating Shri Mahendra Navinchandra Kampani as a member of the
Exchange in his own place was considered and after interviewing Shri
Mahendra Navinchandra Kampani and his recommenders S/Shri Prabhudas
Lilladher and Nagindas Chhaganlal it was resolved by 16 votes in favour and
none against to elect Shri Mahendra Navinchandra Kampani as a member of
the Exchange in the place of Shri Sabavala Haji Mohamed Merchant subject to
the Rules and Bye-laws of the Exchange.
12. The application dated 25-6-76 of Shri Shriram Vasumal Bhavmani nominating
Shri Naresh Jetsi as a member of the Exchange in his own place was
considered and after interviewing Shri Naresh Jetsi and his recommenders
S/Shri Ramanlal D. Shah and Shantilal Kantilal it was resolved by 15 votes in
favour and 1 against to elect Shri Naresh Jetsi as a member of the Exchange
in the place of Shri Shriram Vasumal Bhavmani subject to the Rules and Bye-
laws of the Exchange on the condition that within one month he should
separate from the partnership of Jenico Grinning and Pressing Factory and
should not do business in the market in hiw own name for two years and even
thereafter without obtaining the permission of the Governing Board.
13. The additional reports of Sir Shapurji Broacha Brokers Helping Fund dated 7-5-
76 and 8-7-76 were read and it was resolved to approve these reports.
14. The letter dated 5-7-76 of Shri M.R. Bilimoria was considered and it was
resolved that as Friday 27-8-76 was the Parsi New Year Holiday, our market
should be kept entirely closed for all work on that day.
15. The letter dated 27-5-76 of the Bangalore Stock Exchange was read and it was
resolved that the views expressed by us in the last meeting of the Stock
Exchange Presidents’ Committee about the relaxation in the implementation of
Rule 19(2) (b) of the Securities Contracts (Regulation) Rules, 1957 continue
unchanged.
16. The listing applications of the undermentioned companies were considered and
it was unanimously resolved that, subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and other special
requirements stipulated by us, as may be deemed proper by the Chairman
their below mentioned securities should be admitted to our list of Non-Cleared
securities traded on the Exchange and dealings in those securities should be
done in the trading lots mentioned against them:
EID Perry (India) Ltd. Equity 50 shares EID Perry (India) Ltd. Preference 50 shares Nagarjuna Steels Ltd. Equity 50 shares Nagarjuna Steels Ltd. Preference 5 shares Mohan Ortman & Herbst Equity 50 shares C.K. Automatic Products Ltd. Equity 50 shares National Machinery Manufacturers Ltd. Preference 5 shares Madhya Pradesh Audyogik Vikas Nigam Ltd.
61/4% Bonds 1980 Rs.1000/-
City and Industrial Development Corporation of Maharashtra Ltd.
10.25% Debentures 1988
17. The listing application of Nagpal Stainless Steel was considered when it was
brought to the notice of the Board that the Offer for Sale had failed to disclose
the arrangement made by the Company with its Debenture holders and
approved by the High Court, regarding its liabilities of Rs. 33,20,220/-. As this
important matter had not been included in the Offer for Sale besides becoming
misguiding it signified the dire financial condition of the Company. Because of
this, the shares of the Company become ineligible for listing, it was
unanimously resolved to disapprove the listing application of the Company.
18. As the Preference shares of Khandelwal Udyog Ltd., had been redeemed it was
unanimously resolved to strike off those shares from our list of securities
traded on the Exchange.
19. As EID Perry Ltd., has been merged with EID Perry (India) Ltd., it was
unanimously resolved to remove the shares of EID Perry Ltd., from our list of
securities traded on the Exchange.
20. The letter dated 29-7-76 of the Aluminium Corporation of India Ltd., was read
and it was unanimously resolved that as the Company does not want to
continue listing of its shares, its shares should be removed from our list of
shares traded on the Exchange.
21. The letters dated 15-1-76 and 5-6-76 of Meena Steels Ltd., were read out and
it was resolved to postpone the matter.
22. Unanimously resolved that as the undermentioned companies have not yet
paid the Annual Listing Fee for the year 1976 though repeatedly demanded,
their securities should be removed from our list of securities traded on the
Exchange if they do not pay-up the fee before 31-8-76:
1. Afson Industrial Corporation Ltd. 2. Brunton & Co., Engineers Ltd. 3. Bhopal Toughened Glass Works Ltd. 4. Bright Wires Ltd. 5. C. Prabhudas & Co. Ltd. 6. Depro Foods Ltd. 7. Dharwar Electrical Industries Ltd. 8. Euro-coat (India) Ltd 9. Julou Fabrics Ltd. 10. Keshav Vanaspati Ltd. 11. Karnatak Steel & Wire Products Ltd. 12. New Board Manufacturing Co.Ltd. 13. Northern India Gas Co.Ltd. 14. Ogle Glass Works Ltd. 15. Polysteels (India) Ltd. 16. Pradeshiya Industrial Investment Corporation of U.P. Ltd. 17. Rathi Ispat Ltd. 18. Rathi Udyog Ltd.
19. Rathi Chemicals Ltd. 20. Son Valley Portland Cement Co. Ltd. 21. S.I.F. Steels Ltd. 22. Sakthi Pipes Ltd. 23. Shama Engine Valves Ltd. 24. Shah Construction Co.Ltd. 25. Saraiya Steels Ltd. 26. Tenfort Tyres Ltd. 27. Western India Spg. & Mfg. Co. Ltd. 28. Indequip Engineering Co. Ltd.
23 Resolved to issue a notice as under:
“ In continuation of Notices Nos: 1880/71 and 699/72 dated 6-11-71 and 26-
4-72 respectively all the members are hereby informed that the Governing
Board has resolved that the hand delivery transactions, except those entered
into with a special condition, which will be required to be settled on the 14th
day of Friday or Saturday, will be regarded as Special Delivery transactions or
as transactions whose date of settlement has been extended. Such
transactions will have to be settled alongwith other outstanding hand delivery
transactions on such a day as may be notified. Moreover, the hand delivery
transactions entered into on the abovementioned Friday and Saturday and
thereafter on any working day upto the following Thursday which fall due for
settlement on the 14th day, except those entered into with a special condition
will if necessary for any reason including the facility of Clearing House
Settlement work will be regarded as special delivery transactions or as
transactions whose date of settlement has been extended. Such transactions
will have to be settled alongwith other outstanding hand delivery transactions
and in the manner as explained above.
The delivery and payment of the shares will have to be done on the
Settlement day as stated in the abovementioned notices. If any party fails to
do so, that party will be liable for the buying in or selling out auctions of such
shares and the loss arising because of that”
24. Resolved that a notice be issued as under:
“All the members are hereby informed that in respect of hand delivery system
of settlement the procedure of sellers ticket has been in existence for a long
time and that of Buyers ticket for many years. In that connection, notices have
been issued from time to time. As informed by those notices, transactions
entered into during a fortnight but remaining unsettled during the next 14
days, the parties have to take out auction notices at the end of the following
fortnightly settlement and the intermediate parties have to close the
transactions by making / receiving paying of difference at the delivery Rates .
For Systematic implementation for the above mentioned practice of Seller
Ticket and Buyers Ticket, the procedure of a joint Seller Ticket - Cum- Buyers
Ticket in accordance with our Rules and Regulations and the above mentioned
notices, has been introduced on a trial basis from the beginning of the current
year, for settlement of Hand Delivery transaction which are not being settled
through the Clearing House.
The features of these procedure are as follows:
The Governing Board has resolved that until advised by a further notice the
procedure will continue to the followed, subject to alterations.
(2) In respect of the shares settled outside the Clearing House the members
will have to prepare a share wise list of the transactions entered into by
them up to a date when will be notified from time to time, after removing
objections such list (in Frm No. 1-2 B) should contain full details of the
transactions like party’s name, number of shares, price, etc. but the
information regarding such outstanding transactions which have already
been included in the previous statement shall be given only about the
total purchase or sale.
(3) A member who has a purchase position in any kind of shares according to
the above mentioned Form No. 1-2 B. can issue Buyers Tickets for all
such shares or of as many shares out of that as he wants to take delivery
Similarly a member can issue Sellers Tickets for the Shares he wants to
delivery. Instead of circulating such Buyers / Sellers Tickets party to
party, members will fill up in the Debenture form 6-7-B the number of
shares he wants to take /give delivery. Such forms shall have to be
submitted by the members on the date notified to them.
(4) On consolidation of the aforesaid Forms No. 6-7 B if any kind of shares
delivery of shares being is given and delivery of shares is also being
taken, than the two sides of the transactions will be matched against
each other and the parties will be given the delivery orders. In the first
place, the parties who have to give and take delivery of the same kind of
shares, will be given delivery orders against themselves after adjusting
their sales and purchasers of the those shares if, on consideration of
Forms No. 6-7 b, the number of shares being delivered (taken)is lager
then the shares being taken (Delivered), the excess number of shares
after adjustment of both sides , will be adjusted against the old
outstanding sale (purchase) of the members who want to give (take)
delivery of such shares against their own old outstanding sales
(Purchase). Delivery orders for the balance of shares will thereafter be
given to others who have outstanding old sales (Purchase) and they will
have compulsorily to take (give) delivery of such shares, If delivery is not
taken (Given) accordingly, they will be auctioned after taking out the
necessary auction applications. Further of information regarding giving /
taking delivery of the shares is not given in time, such shares will become
liable to be compulsorily auctioned as started in para above.
(5) Delivery of shares according to the above mentioned delivery orders will
have to be made by the parties on a date notified in that respect and
payment will have to be made at the price mentioned in the Delivery
orders. All the transactions shown in form 1-2 B which is submitted
before the Delivery orders are prepared as above should be adjusted at
the price mentioned in the Delivery Orders and payment will have to be
made accordingly. A settlement of the payment to be made or gives for
the shares at the delivery price and of the differences to be paid between
the parties shall have to be prepared and for the money to be part or
received accordingly, pay slip or Receive Slip will be prepared. The
aforesaid Pay Slip or Receive Slip will have to be submitted to the
Clearing House together with the cheque or demand draft on the date
that may be notified.
(6) The programme outlined above will continue regularly and transactions
will continue to be settled by giving / taking delivery and auction so long
as any transaction is not settled as above, the original parties between
whom any such transaction has taken place will be responsible to each
other. If any such party becomes a defaulter the other original parties
who have done such transition with the defaulter will be responsible for
such transactions and the loss arising in respect thereof proportionately.
(7) The above mentioned procedure will continue to remain in force until
another notice is put up informing otherwise. In the meantime if
necessary required changes will made therein.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 18-10-76
Monday, 18-10-76
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Navinchandra Chhaganlal Kampani Seth Phiroze J. Jeejeebhoy Seth Hiralal Girdharlal Seth Jasvantlal Chhotalal Seth Jayantilal Rangildas Khandwala Seth Vasantlal Kantilal Shah Seth Chhotalal Devchand Parekh Seth J. R. Motishaw Seth Vasantlal Jivatlal Seth Vasantlal Champaklal Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya Shri S.C. Bafna
The following business was transacted in the meeting: 1. Resolved that the Board is grieved to take note of the sad demise of a Trading
Member of our Association and a Member of the Governing Board Shri
Babubhai Maganlal Gandhi and expresses its sense of sorrow in that behalf.
This Board also expressed deep sense of sympathy and grief to the family
members of the deceased and request the President to send a copy of this
Resolution to them by way of consolation.
2. The application for help dated 8-9-76 of the Edulji Framji Allbless Leprosy
Home, Trombay was considered and it was resolved to give it help of Rs. 101/-
from the Association Fund.
3. The application dated 11-10-76 of Shri Bedipara Hariyan Yuval Mandal was
read and it was resolved that we cannot give any help to it.
4. The application for help dated 22-9-76 of Shri Achratlal Harjivandas Shah was
considered and it was resolved to give him help of Rs.500/- from the Seth
K.R.P. Shroff Stock Exchange Sarvajanik Fund.
5. The applications of the undermentioned members of our office staff for giving
them help for the expenses incurred by them for medical treatment of their
wife during their sickness were considered and it was resolved to give them
assistance for that of the amounts shown against their names from Seth
K.R.P. Shroff Stock Exchange Sarvajanik Fund:
Shri H.A. Patni Rs.600/-
Shri Vijay Narayan Hera Rs.600/-
6. The application dated 14-8-76 of our Sepoy Vilas Gyandev to give him help for
the College fee etc of Rs.207/- for the First year Arts paid by him as he has
joined a college was considered and it was resolved to give him help of
Rs.207/- from Shri M.C.Mehta Smarak Fund.
7. The application dated 23-8-76 of Shri S.M. Davda of our office for loan was
considered and it was resolved to give him a loan of Rs. 2000/-.
8. The letter dated 5-8-76 of Smt. Bhanuben natverlal Desai and Kumari
Sandhya Natverlal Desai was considered and it was resolved to give
permission to Shri Govindbhai Jivanlal Desai to continue the business of the
late Shri Natverlal J. Desai for three months.
9. The letter dated 11-8-76 of S/Shri Bharat Babubhai Gandhi, Deepak Babubhai
Gandhi and Narendra Babubhai Gandhi and Ms. Maya Babubhai Gandhi was
considered and it was resolved to give permission to Shri Bharat Babubhai
Gandhi to continue the business of the late Shri Babubhai Maganlal Gandhi for
three months
10. The letter dated 12-10-76 of S/Shri Indravadan Ranchhoddas Shah and
Niranjan Ranchhoddas Shah was considered and it was resolved to give
permission to Shri Indravadan Ranchhoddas Shah to continue the business of
M/s Ranchhoddas Sheshkaran for two more months.
11. The letters of the undermentioned members were considered and it was
resolved to give permission for doing business as Representative Member as
mentioned below:
Nominating Member Representative Member
Shri A.C. Sheth Shri Mangaldas Lalji Kampani
Shri Sunderdas Kalyanij Kankal Shri Naresh Jetsi
Shri Brijmohan Sagarmal Shri Nandkishore Ramchandra Agarwal
12. The application dated 7-9-76 of Shri Mohanlal Sakerchand nominating Shri
Shantichand Balubhai Jhaveri as a member of the Exchange in his own place
was considered and after interviewing Shri Shantichand Balubhai Jhaveri and
his recommenders S/Shri S.J. Palejwala and Sumatilal Jamnalal it was
resolved by 10 votes in favour and none against to elect Shri Shantichand
Balubhai Jhaveri as a member of the Exchange in the place of Shri Mohanlal
Sakerchand, subject to the Rules and Bye-laws of the Exchange.
At this point of time Shri Vasantlal Jivatlal came and joined the meeting.
13 The application dated 29-7-76 the near relatives of the late Shri Ranchhoddas
Sheshkaran nominating Shri Indravadan Ranchhoddas as a member of the
Exchange in the place of late Shri Ranchhoddas Sheshkaran was considered
and after interviewing Shri Indravadan Ranchhoddas and his recommenders
S/Shri Ramanlal D. Shah and Jayantilal Dungarshi Shah it was resolved by 11
votes in favour and none against to elect Shri Indravadan Ranchhoddas Shah
as a member of the Exchange in the place of late Shri Ranchhoddas
Sheshkaran , subject to the Rules and Bye-laws of the Exchange.
14 The application of Shri Motilal Govinddas Mohta nominating Shri Mathuradas
Govinddas Mohta as a member of the Exchange in his own place was
considered and after interviewing Shri Mathuradas Govindas Mohta and his
recommenders S/Shri R. R. Mohta and Shivkishan Damani it was resolved by
eleven votes in favour and none against to elect Shri Mathuradas Govinddas
Mohta as member of the Exchange in the place of Shri Motilal Govinddas
Mohta, subject to the Rules and Bye-laws of the Exchange.
15 As Shri Himatlal V. Gandhi has been declared to be insolvent, he has been
declared as a defaulter by the Chairman, this was notified by the Board.
16 The under mentioned securities have been redeemed it was unanimously
resolved to strike them off our list of securities traded on the Exchange.
Rolta Industries ltd. 6% Bearer Debentures Shri Digvijay Cement Co. Ltd. 7.75 % Debentures Jay Shree Chemicals Ltd. 7.5% Convertible Debentures
(1972/76) The Tata Hydro Electric Power Co. Ltd.
7 % A (1975) Second Debentures
The Tata Power Co. Ltd. 7 % (A) 1975) Fifth Debentures Modi Industries Ltd. First Services Debentures Sundatta Foods & Fibres Ltd. 8% cumulative Participating Pref.
Shares
17 As the Indian Iron & Steel Co. Ltd., has been nationalised the matter regarding
removal of its shares from our list of securities traded in the Exchange was
considered and it was resolved to continue the shares in our list of securities
traded on the Exchange for the time being.
18 As Meena Steel Limited has not paid the Annual Listing fee for the year 1976
it was unanimously resolved to strike off it shares from our list of securities
traded on the Exchange.
19 As Jubilee Mills Ltd. has been amalgamated with Swan Mills Ltd., it was
unanimously resolved to strike the shares of Jubilee Mills Ltd., off our list if
securities traded on the Exchange.
20 As Dena Bank Ltd., has been amalgamated with Siram Products Ltd., it was
unanimously resolved to strike off its shares from our list of securities traded
on the Exchange.
21 As regards the correspondence until 4-10-76, received from Nagpal Stainless
Steels Ltd., it was resolved to postpone the matter to the next meeting.
22 As under mentioned companies have paid up the Annual Listing Fee for the
year 1975, it was unanimously resolved to re-admit their shares to our list of
securities traded on the Exchange.
1. Eurocote (India) Ltd.
2. Shah Construction Co. Ltd.
3. New Board Manufacturing Co Ltd.
4. Depro Foods Ltd.
23. The listing applications of the undermentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and the special
requirements stipulated by us their securities mentioned below should be
included in our list of Non-Cleared Securities and dealings in those securities
should be made in the trading lots shown against them:
Greaves Lombardini Ltd. Equity 50 shares Greaves Lombardini Ltd. Preference 5 shares Basant Paper Mills Ltd. Equity 50 shares Basant Paper Mills Ltd. Preference 5 shares Vanjinad Leathers Ltd. Equity 50 shares Damodar Bulk Carriers Ltd. Equity 50 shares Transformers & Electricals Kerala Ltd. Equity 50 shares Coromandal Agro Products and Oils Ltd. Equity 50 shares Preference 5 shares Indian Fibre Blank Ltd. Equity 50 shares Indian Fibre Blank Ltd. Preference 5 shares Stormal India Ltd. Equity 50 shares Union Paper Mills Ltd. Equity 50 shares Union Paper Mills Ltd. Preference 5 shares Universal Paper Mills Ltd. Equity 50 shares Universal Paper Mills Ltd. Preference 5 shares The State Industrial and Investment Corporation of Maharashtra Ltd.
61/4% -Rs.1000/- Bond 1986.
The Industrial and Investment Corporation of India Ltd.
61/4% (1992) – Rs.5000/- debentures
Mafatlal Industries Ltd. New Equity – 1 share The Surat Electricity Co.Ltd. 10.5% convertible
debentures. – 5 debentures.
24. Resolved that needful should be done for making the necessary arrangements
for giving security to Banks as may be approved by them for loan/ cash credit
given by them and in respect of the loans / cash credit taken from them
before now or to be taken hereafter.
25. Resolved that as Thursday 21-10-76 is the Dhan Teras Holiday our market
should be kept entirely closed for all business on that day.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 9-11-76
Tuesday, 7-12-76
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present:
Seth Jayant Amerchand Seth J. R. Motishaw
Seth Phiroze J. Jeejeebhoy Seth Navinchandra chhaganlal Kampani
Seth Mathradas Samaldas Seth A. R. Mahadevia
Seth Jaswantlal Chhotalal Seth Jayantilal Rangiladas Khandwala
Seth Rasiklal Maneklal Seth Chhotalal Devchand Parekh
Seth Vasantlal Kantilal Shah Seth Vasantlal Jivatlal
Government Nominees
Shri M.R. Mayya
Shri S.C. Bafna
The following business was transacted in the meeting:
1 The President informed the Board that Shri Bafna was soon to go to New Delhi
to occupy the high post of Director of Inspection in the Company Law Board. He
congratulated Shri S. C. Bafna on behalf of the Board and himself and wished
him success. He also thanked Shri Bafna for the support and co-operation given
by him to the Board and expressed hope that in future he will continue to
give his co-operation to the Board. Shri Bafna thanked the Board for its kind
sentiments.
2 The application dated 02-10-76 of the Maharashtra State Anti tuberculoses
Association for help was considered and it was resolved to give it help of
Rs.101/-
3 The application dated 7-8-76 of Masina Hospital for group it help was
considered and it was resolved that it cannot be given any help.
4 The applications for the under mentioned persons of our office staff asking for
loans were considered and it was resolved to give each of them loan of the
amount shown against his name below:
Shri G. N. Kunder Rs.3,000/-
Bhatt Mothalal Bhuralal Rs.2,500/-
Sweeper Bhagwandas Tillu Rs.700/-
5 The letter dated 26-10-76 of S/Shri Gunwantlal Karsandas Dalal and Sanat
Motilal Dalal was read and noted that Shri Sanat Motilal Dalal had separated
from the firm of M/s. Dalal Sons with effect from 2-10-76
6 The application relating ot the under mentioned partnerships were considered
and approved
Name of the Partnership Name of the Partners Date of
partnership
M/s. Balubhai
Tribhuvandas Prekh
Shri Balubhai Tribhuvandas Parekh
Shri Manharlal Tribhuvandas Parekh
Shri Dilip Manharlal Parekh
24-10-76
M/s. Shantichand
Balubhai Javeri
Shri Shantichand Balubhai Jhaveri
Shri Haresh Shantichand Jhaveri
22-10-76
M/s Ranchoddas
Seshkaran
Shri Indravadan Ranchoddas Shah
Shri Niranjan Ranchoddas Shah
23-10-76
7 The letter dated 7-12-76 of Shri Sevantilal Chimanlal and M/s. Trikamlal
Maganlal was read and it was resolved to give permission to M/s. Trikamlal
Maganlal to do business as a representative member of Shri Sevantilal
Chimanlal.
8 The application dated 11-11-76 of the near relatives of the late Shri Homi M. P.
Bharucha nominating Shri Jayant Thakorbhai Shroff as a member of the
Exchange in the place of the late Shri Homi M. P. Bhrucha was considered and
after interviewing Shri Jayant Thakorbhai Shroff and his recommenders S/Shri
Bhagubhai A. Gandhi and Prasanna Pranjivandas Broker it was resolved by 11
votes in favour and none against to elect Shri Jayant Thakorbhai Shoff as a
member of the Exchange in the place of late Shri Homi M. P. Bharucha,
subject to the Rules Bye-laws of the Exchange.
9 The application dated 16-11-76 of the legal representations of the late Shri
Rameshwar Balchand Khaitan, nominating Shri Puthukae Sethu Narayan Swami
as a member of the Exchange in the place of late Shri Rameshwar Balchand
Khaitan was considered and after interviewing Shri Puthukae Sethu Narayan
Swami and his recommenders S/Shri P. R. Subramanyam and Noshir N. Saher
it was resolved by 11 votes in favour and none against to elect Shri PethuKade
Sethu Narayan Swami as a member of the Exchange in the place of late Shri
Rameshwar Balchand Khaitan, subject to the Rules Bye-laws of the Exchange.
10 Resolved that in addition to sum of Rs.4,00,000/- paid from the Stock
Exchange Education and Research Services Fund to the Stock Exchange
Educations, which has been required under section 35 (1) (2) of the Income
Tax Act, according to the resolution dated 20-7-76, further sum of Rs.3,50,00/-
be paid to the Stock Exchange Foundations from the Stock Exchange Education
and Research Services Fund it was to be treated as a corpus.
11 Resolved to give approval to the Chairman’s letter of hypothecation dated 2-1-
75 creating hypothecation of the computer equipment with ancillaries and a
flouting charges on the moveable assets of the Exchange by way of securities
given by the Chairman, as per the powers delegated by the Board to the
Chairman, with 7 days notice short deposit placed by the Stock Exchange
Foundation with the Association from time to time, subject to the condition of
the first charge of the Stock Exchange 8 % Debenture holders and the Bank of
India.
12 The Annual Report, Income and Expenditure Accounts and the Balance Sheet of
our Association for the year 1975 were approved.
13 The Association holidays for the year 1977 were decided.
14 Resolved that a notice as under should be issued “All the members of the
Exchange are hereby informed that the Governing Board has resolved that the
members of the Exchange or their employees should not do any business by
meeting together in a crowd at any place when the market is closed. Also they
should not gather together in a crowd even if no transactions are done. if
anybody is found gathering in crowd at any place outside the business hours,
he will be penalised with a fine in spite of that anybody is found doing it again
in violation of this notice, he will be suspended or his badge will be cancelled.”
15 Resolved that as the Indian Iron & Steel Co. Ltd. has been nationalise, its
shares should be stick off our list of securities traded on the Exchange, with
effect from 1-1-77.
16 As the under mentioned securities have been or are being redeemed
unanimously resolved that those securities should be removed from our list of
securities traded on the Exchange.
Larson & Toubro Ltd. 7 % Debentures 1974-76
The Thana Electric Supply Co. Ltd. 6 ½ % Debenture Shares
The Anand Electric Supply Co. Ltd. 6 % Debenture Shares
The Nadiad Electric Supply Co. Ltd. 6 % Debenture Shares
17 The papers relating to the listing application of Nagpal sterilise Steel Ltd were
read and it was resolved to postpone the matter for further consideration in the
next meeting.
18 The listing application of the under mentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and such other special
requirements as may be the stipulated by us, as may be deemed prefer by the
Chairman their below mentioned securities should be included in our list of non-
cleared securities, traded on the Exchange and dealing therein should be made
in the trading lots mentioned against them:
Karnatak Oxygen Ltd. Equity – 50 Shares
Karnatak Scooters Ltd. Equity – 50 Shares
Karnatak Scooters Ltd. Preference – 50 Shares
Govind Poy Oxygen Ltd. Equity – 50 Shares
Sudarshan Chemical Industries Ltd. Equity – 50 Shares
Mehnalaya Phyto Chemicals Ltd. Equity – 50 Shares
Megnalaya Phyto Chemicals Ltd. Preference – 5 Shares
Springs India Ltd. Equity – 50 Shares
Springs India Ltd. Preference – 5 shares
Carbon Corporation Ltd. Equity – 50 Shares
Sahney Pares Phone Ltd. Equity – 50 Shares
Sahney Pares Phone Ltd. Preference – 5 Shares
Melcast India Ltd. Equity – 50 Shares
19 Resolved that hereafter cum-dividend transactions in the Shares of the
companies whose transfer books are closed on 1-1-77 or subsequently or if the
transfer books are not closed the Record date is fixed as of 1-1-77 or
thereafter, for the purpose of payment of dividend, and such cum-dividend
transactions are solved after such closure of the transfer Books or the Record
date, payment of dividend between the parties should be made on the basis of
gross dividend instead of net dividend.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 25-1-77
Tuesday, 25-01-77
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Shah Seth Phiroze J. Jeejeebhoy Seth J. R. Motishaw Seth Mathradas Samaldas Seth Vasantlal Champaklal Seth Jaswantlal Chhotalal Seth Navinchandra chhaganlal Kampani Seth Rasiklal Maneklal Seth Jayantilal Rangiladas Khandwala Seth Laldas Jamnadas Seth Chhotalal Devchand Parekh Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya Shri M.C. Bhatt
The following business was transacted in the meeting: 1 The President mentioned that Shri M.C. Bhatt was to retire from his present
post soon and thanked him on behalf of the Board and himself for the valuable
guidance, suggestions, support and co-operation given during his tenure on the
Board. He also wished him long healthy life and prosperity. Shri M.C.Bhatt
thanked the Board for its good wishes and kind sentiments and also wished well
for the Stock Exchange.
2 The applications for help of the undermentioned institutions were considered
and it was resolved to give help of Rs.101/- to each of them:
The Bombay Dumb and Deaf Institution
All India Deaf and Dumb Society.
3 The application dated 21-1-77 of our sepoy Vilas Gyandev to give him help of
the College fee for the second term of First year Arts was considered and it was
resolved to give him assistance of Rs.213/- from Shri M.C.Mehta Smarak Fund.
4 The applications of the undermentioned persons of our office staff to give them
loans were considered and it was resolved to give them loans of the amounts
shown against their respective names:
Shri H.A. Patni Rs.1000/-
Liftman Sitaram Vithal Rs.1100/-
Sweeper Hariram Jivram Rs.1000/-
5 The application dated 25-11-76 of our retired Havaldas Shankar Rastogi was
considered and it was resolved to give him a pension of Rs. 25/- per month and
to pay the gratuity of Rs.10,465.50p.
6 The applications for the under mentioned partnerships were considered and it
was resolved to approve them:
Name of the Partnership
Name of the Partners Date of partnership
M/s S. Ramdas Shri Suresh Bhavanrao Sherali Shri Sanjay Suresh Sirali
10-12-76
M/s Jamnadas Morarjee & Co.
Shri Navinchandra Chhaganlal Kampani Shri Mahendra Kampani Shri Navinchandra Kampani Shri Hemantkumar Navinchandra Kampani
24-10-76
M/s S. Parbhoodas & Co.
Shri Mathradas Samaldas Shri Hemendra M. Kothari Shri Yogesh M. Kothari
24-10-76
7 The letter dated 3-12-76 of S/Shri Bharat Babubhai Gandhi, Deepak Babubhai
Gandhi and Narendra Babubhai Gandhi and Miss Maya babubhai Gandhi was
read and it was resolved to give permission to Shri Bharat Babubhai Gandhi to
continue the business of the late Shri Babubhai Maganlal Gandhi for two more
months.
8 The application dated 12-3-76 of the near relatives of the late Shri Narverlal
Motilal Vyas nominating Shri Pravin Natvarlal Vyas as a member of the
Exchange in the place of late Shri Narverlal Motilal Vyas was considered and
after interviewing Shri Pravin Natverlal Vyas and his recommenders S/Shri
Govindbhai B. Desai and Rasikalal Manilal Shah it was resolved by 12 votes in
favour and none against to elect Shri Pravin Natvarlal Vyas as a member of the
Exchange in the place of late Shri Narverlal Motilal Vyas, subject to the Rules
Bye-laws of the Exchange.
9 The letter dated 27-12-76 of Shri Sureshchandra Nandlal to refund to him the
additional membership security deposit given by him was considered and it was
resolved to consider the matter after the forthcoming Budget of the Bharat
Government is presented.
10 The letters of the undermentioned companies were considered and it was
unanimously resolved that as they do not want their securities to continue in
the list of securities traded on our Exchange, they should be removed from our
list of securities traded on the Exchange:
1. Universal Steel & Alloys Ltd.
2. Kaveri Sugars and Chemicals Ltd.
11 The letter dated 9-12-76 of Multi Steels (India) Ltd., was considered and it was
unanimously resolved that as that company has been amalgamated with
Poddar Projects Ltd., its shares should be removed from our list of securities
traded on the Exchange.
12 The letter dated 12-1-77 of Maharashtra State Textile Corporation was
considered and it was unanimously resolved that it has taken over
administration of Pulgan Cotton Mills Ltd., in its hands and does not wish to
continuer its shares to be traded on the Exchange. Its shares should be
removed from our list of securities traded on the Exchange.
13 The listing applications of the undermentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and other special
requirements stipulated by us as may be deemed proper by the Chairman, their
securities mentioned against their names should be included in our list of Non-
Cleared Securities and traded in the lots noted against them:
Bell Graphic Recording Charts Ltd. Equity 50 shares Kabini Papers Ltd. Equity 50 shares Punjab Scooters Ltd. Equity 50 shares Punjab United Pesticides and Chemicals Ltd. Equity 50 shares Citurgia Bio Chemicals Ltd. Equity 50 shares The Britania Biscuit Co.Ltd. Equity 100 shares The Britania Biscuit Co.Ltd. 8% Preference -100
shares The Britania Biscuit Co.Ltd. 73/4% Debentures –
Rs.1000/-
14 The letter of Nagpal Stainless Steels Ltd., relating to its listing applications
were considered and the matter was postponed for further consideration.
Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 24-3-77
Monday, 14-3-77
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Shah Seth Phiroze J. Jeejeebhoy Seth Navinchandra Chhaganlal Kampani Seth Mathradas Samaldas Seth A.R. Mahadevia Seth Jaswantlal Chhotalal Seth Jayantilal Rangiladas Khandwala Seth Rasiklal Maneklal Seth Vasantlal Champaklal Seth Laldas Jamnadas Seth Purshottam Gopiram Ruiya
Government Nominees Shri M.R. Mayya Shri R.N. Bansal Shri S.L. Shetty
The following business was transacted in the meeting: 1 Shri L.R. Munjal was present in today’s meeting by special invitation. The
President welcomed him and also Shri R.N. Bansal who has been appointed as
a Government Nominee in the place of Shri S.C. Bafna and introduced them to
the members of the Board.
2 Resolved to appoint S/Shri Jayantilal Mansukhlal Champaklal Babubhai
Marfatia and Nagindas Trambaklal as Scrutineers for scrutinising the ballot
papers relating to the election of the Governing Board for the year 1977-78
and declare its result.
3 The application dated 15-1-76 of our liftsman Padmasinh to give him help in
respect of the expenses of Rs.405.52p incurred by him for medical treatment
during his sickness was considered and it was resolved to give him assistance
of Rs.250/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund.
4 The applications for loans of the undermentioned persons of our office staff
were considered and it was resolved to give them loans as shown below:
Shri Nariman Dubash Rs. 3000/- Sepoy Shantaram Narayan Rs.2000/-
Shri ABS Nair Rs. 1100/- Liftman Jitsing Padmasinh Rs.2000/-
Sepoy Balkrishna S. Shinde Rs.800/- Watchman S.K. Lal Rs.1000/-
5 Resolved to give permission for doing business as Representative Member as
under:
Nominating Member Representative Member
M/s Sankalchand Damodardas M/s Ranchhoddas Motiram Choksey & Co. M/s R.G. Mohta Shri Mathuradas Mohta
6 The application dated 25-11-76 of the near relatives of the late Shri Babubhai
Maganglal Gandhi nominating Shri Bharatkumar Babubhai Gandhi as a
member of the Exchange in the place of late Shri Babubhai Maganglal Gandhi
was considered and after interviewing Shri Bharatkumar Babubhai Gandhi and
his recommenders S/Shri Sevantilal Chimanlal and Jayant Mangaldas it was
resolved by 11 votes in favour and none against to elect Shri Bharatkumar
Babubhai Gandhi as a member of the Exchange in the place of late Shri
Babubhai Maganglal Gandhi, subject to the Rules Bye-laws of the Exchange.
7 As the 25000 9.5% Preference Share of J.K. Synthetics are to be redeemed on
and from 31-3-77 unanimously resolved to remove these shares from our list
of securities quoted on the Exchange.
8 As Bhartiya Electric Steel Co. Ltd., does not want its shares to continue to be
listed on the Exchange it was unanimously resolved to remove its shares from
the list of securities quoted on our Exchange.
9 The listing applications of the undermentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and other special
requirements stipulated by us as may be deemed proper by the Chairman,
their below mentioned securities should be included in our list of Non-Cleared
Securities and trading in those securities should be done in the trading lots
mentioned against them:
Reckit and Colman of India Ltd. Equity 50 shares Oriental Carbon Ltd. Equity 50 shares Facit Asia Ltd. Equity 5 shares Ion Exchange (India) Ltd. Equity 50 shares Century Tubes Ltd. Equity 50 shares Century Tubes Ltd. Preference 5 shares Monotype India Ltd. Equity 50 shares Detergents India Ltd. Equity 50 shares Godavri Plywoods Ltd. Equity 50 shares Godavri Plywoods Ltd. Preference 5 shares Track Parts of India Ltd. Equity 50 shares Himachal Wool Processors Ltd. Equity 50 shares Mercantile Credit Corporation Ltd. Equity 50 shares Mercantile Credit Corporation Ltd. Preference 50 shares S&S Bushings Ltd. Equity 50 shares
10 The letters dated 21-1-77 and 7-2-77 of Champaklal Investments and
Financial Consultancy Ltd., regarding grant of recognition to Industrial Credit
and Development Syndicate as an approved underwrites as well as the
information sent by them about that organisation were considered and it was
resolved to approve Industrial Credit and Development Syndicate as
Underwriters.
11. The letters dated 28-1-77 and 31-1-77 of Champaklal Investments and
Financial Consultants Ltd., and its Annual Report for the year 1974-75 were
read and it was resolved to approve it as underwriters on the condition at no
time their underwriting liability should exceed Rs. 5 lakhs.
12. The President thanked the members of the Governing Board and the
Government Nominees for the support and co-operation given by them during
the year.
Sd/- Sd/- A.J. Shah J.R. Motishaw Secretary President 18-4-77
Thursday, 28-4-77
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm. under the Chairmanship of Seth J. R. Motishaw and thereafter under the Chairmanship of Seth Mathradas Samaldas, wherein the undermentioned members of the Board were present:
Seth Mathradas Samaldas Seth Vasantlal Champaklal
Seth Phiroze J. Jeejeebhoy Seth Jayantilal Rangiladas Khandwala
Seth Vasantlal Champaklal Seth Vasantlal Jivatlal
Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani
Seth Laldas Jamnadas Seth Chhotalal Devchand
Seth Jayant Amerchand Seth Ashokkumar Girdharlal Fozdar
Seth Rasiklal Maneklal Seth Purshottam Gopiram Ruiya
Seth J. R. Motishaw Seth Haryantlal Norandas Sonawala
Government Nominees
Shri J. P. Mukharji
Shri M.R. Mayya
Shri R.N. Bansal
Shri H.L. Shetty (Alternate)
The following business was transacted in the meeting: 1 Proposed by Seth Laldas Jamnadas and supported by Seth Purshottam Gopiram
Ruiya, Seth J. R. Motishaw was unanimously elected as Chairman of today’s
meeting.
2 Proposed by Seth J. R. Motishaw and supported by Shri Jayant Amerchand,
Seth Mathradas Samaldas was unanimously elected as the President.
Seth J. R. Motishaw handed over the Chairmanship of the meeting to Seth
Mathradas Samaldas and Shri Laldas Jamnadas congratulated Shri Mathradas
Samaldas on behalf of all the Board members and himself.
Seth Mathrads took over the Chiarmanship of the meeting. He thanked Seth
Jayant Amerchand for having served as President nearly for three years in
difficult time. Paying tribute to the invaluable services rendered by late Shri
K.R.P. Shroff for a long period as President, he said that he will follow the fine
traditions established by him and will go on drawing guidance and inspiration
there form. The president also made mentioned of the appointment of Shri J. P.
Mukharji Director (Investment), Finance Ministry, as Government Nominee on
our Board in the place of Shri M. C. Bhatia and welcomed him, He introduced
Shri J. P. Mukharji to the various members of the Board and expressed hope
that the Board will get full support and co-operation from him as well as
valuable guidance. The President also congratulated S/shri Ashokkumar
Girdharlal Fozdar and Haryantlal Norandas Sonawala for being elected to the
Board and welcomed.
3 Proposed by Seth Jayant Amerchand and supported by Shri Ashokkumar
Girdharlal Fozdar it was unanimously resolved to elect Shri Vasantlal
Champaklal Mashruwala as Vice President.
4 Proposed by Shri Rasiklal Maneklal and supported by Shri Chhotalal Devchand,
Shri Navinchandra Chhaganlal Kampani was elected as the Hon. Treasurer.
5 Resolved that the undermentioned members are appointed as members of the
Arbtration Committee for the year 1977-78
Shri. Keki N. Chinoy Shri Nagindas Trambaklal Parekh
Shri Jayantilal K. Dalal Shri V. K. Nanavati
Shri Champaklal Babulal Marfatia Shri Jayendra D. Mehta
Shri L. N. Kapadia Shri Rasiklal S. jhaveri
Shri D. U. Shukla Shri Govindbhai G. Desai
Shri Hariram Dwarkadas Shri Jitendra Champaklal Mashruwala
Shri Bhagubhai Amritlal Gandhi Shri Ramdas Lallubhai
Shri S. M. Shah Shri Shirish Chimanlal Dave
6 Reolved that the under mentioned members are appointed as members of the
Defaulters Committee for the Year 1977-78
Shri Jayant Amerchand Shri Jayantilal Harjivanlal Dalal
Shri Vasantlal Kantilal Shah Shri Rasiklal S. Jhaveeri
Shri Jasvantlal Chhotalal Shri Nagindas Trambaklal Parekh
7 Resolved to appoint Sir Shaporjee Brocha Brokers Helping Fund Committee
consisting of S/Shri J. R. Motishaw, Mathradas Samaldas, Vasantlal Champaklal
and Dhirajlal Maganlal
8 “Resolved that cheques be signed by the President, Shri Mathradas Samaldas,
or the Chairman, Shri P. J. Jeejeebhoy, or the Vice President, Shri Vasantlal
Champaklal, or the Hon. Treasurer, Shri Navinchandra Chhaganlal Kampani and
any one of the following six Members of the Governing Board, namely, Shri J.
R. Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand, Shri Vasant
Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be
countersigned by the Secretary, Shri A. J. Shah and in his absence by Shri S.
N. Karaka or Shri M. D. vyas.”
9 Resolved that the various Accounts and Safe Custady Accounts of the Exchange
with Bank of India be operated on jointly by the President, Shri Mathradas
Samaldas, or the Chairman, Shri P. J. jeejeebhoy, or Vice President, Shri
Vasantlal Champaklal, or Hon. Treasurer, Shri Navinchandra Chhaganlal
Kampani, and by any one of the following six Members of the Governing Board,
namely, Shri Shri J. R. Motishaw, Shri. Rasiklal Maneklal, Shri, Jayant
Amerchand, Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal ant Shri A.
R. Mahadevia and be countersigned by the Secretary, Shri A. J. Shah and in his
absence by Shri S. N. Karaka or Shri M. D. Vyas
10 “Resolved that the Current Accounts and Safe Custody Accounts with Bank of
India in the name of the Stock Exchange staff Provident Fund and the Stock
Exchange Staff Gratuity Fund be operated on either by two of the Trustees of
the Exchange for the time being or the survivor or surviors of them or jointly by
the Hon. Treasurer, Shri Navinchandra Chhagnlal Kampani and any one of the
following six Members of the Governing Board, namely Shri J. R. motishaw, Shri
Rasiklal maneklal, Shri Jayant Amerchand, Shari Vasant Kantilal Shah, Shri
Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned by the
Secretary, Shri A. J. Shah and in his absence by Shri S. N. Karaka or Shri M. D.
Vyas
11 The Application dated 31-1-77 of the All India Federation of the Deaf for help
was considered and it was resolved to give a donation of Rs.10/- to it.
12 The letter dated 11-4-77 of our pensioner Shri Maganlal Jivabhai Desai was
considered and it was resolved that he should be give the help by Rs.50/- p.m.
for one year from 1-5-77 from Seth KRP Shroff Stock Exchange Sarvajanik
Fund.
13 The applications for loans of the under mentioned members of our office Staff
were considered and it was resolved to give them loans of the amount shown
against name for each of them.
Shri C. N. Sanghavi Rs.1,000/-
Shri H. A.Sahukar Rs.1,000/-
Sepoy Dattaram Govind Rs.2,000/-
14 The letter dated 15-4-77 of S/Shri Devidas Jamnadas and Padmakant Devidas
was read and it was noted that Shri Padmakant Devidas had separated from
the firm of M/s. Devidas Jamnadas and Shri Devidas Jamnadas had continued
to do business as the proprietor of the firm of M/s. Devidas Jamnadas with
effect from 14-04-77
15 The letter dated 30-7-77 and 28-3-77 of Shri B. D. Shroff and Shri Jawahir
Jagirdar respectively were read and it was resolved to give permission to Shri
Jawahir Jagirdar to do business as Representative Member of Shri B.D. Shroff.
16 The application dated 12-4-77 of the near relative of late Shri Babulal Jivraj
Maniar nominating Shri Pravinchandra Babulal Maniar as a member of the
Exchange in the place of late Shri Babulal Jivraj maniar was considered and
after interviewing Shri Pravinchandra Babulal Maniar and his recommenders
S/Shri Hasmukha Lalunhai and Sumatilal Jamnalal it was resolved by 15 votes
in favour and none against to elect Shri Pravinchandra Babulal Maniar as a
member of the Exchange in the place of late Shri Babulal Jivraj Maniar, subject
to the Rules and Regulations of the Exchange.
17 The Chairman expressed the present position regarding construction of our new
building. As there was likelihood of getting permission for resumption of its
constructions in short time, he spoke about making arrangement for raising the
necessary funds and collecting the materials. In that connection Board took
note of the recommendations made the Allotment Committee on 22-2-77. The
consent given by the Trustees earlier by their letter dated 7-12-76 the
permission given by the Maharashtra State Government by their letter dated
29-3-77 for resumption of the construction work of our new building and the
No-objection Certificate dated 28-4-77 given by the Controller of
accommodation.
18 Resolved that as our 8% Debentures have almost been fully subscribed, the
condition for trading the Fixed Deposits placed with us as subscription for the
Debentures should be deleted. That besides whatever Fixed Deposits, loans
and funds have been collected previously at higher or lower interest for longer
or shorter periods or on any other terms without the above mentioned
conditions should be approved and we should continue to do so.
19 Resolved that we should negotiate and do the needful for obtaining more funds
from the Bank of India and Central Bank of India in respect of the loans taken
from them.
20 The listing application of the under mentioned companies were considered and
it was unanimously resolved that, subject to the Listing rules and Regulations
as well as compliance with the usual requirements and other special
requirements stipulated by us, as considered proper by the Chairman, their
below mentioned Securities should be included in our list of non-cleared
securities traded on the Exchange and dealing in their securities should be
made in the trading lots shown against them:
Andra Pradesh Tanneries Ltd. Equity - 50 Shares
K. G. Khoshla Compressors Ltd. Equity – 50 Shares
Reed Relays and Electronic India Ltd. Equity – 50 Shares
Reed Relays and Electronic India Ltd Preference – 50 Shares
Triton Valves Ltd. Equity – 50 Shares
Triton Valves Ltd Preference – 5 Shares
International conveyors Ltd. Equity – 50 Shares
Wimco Ltd. New Equity – 50 Shares
The Industrial Credit and
Investments Corporation of India Ltd.
6 ¼ % Debentures 1993 –
Rs.5,000/-
21 As Khandelwal Udyog had been amalgamated with Aenie Manufacturing Co.
Ltd., it was unanimously resolved to de-list the shares of Khandelwal Udyog.
Sd/- Sd/- A.J. Shah Vasantlal Champaklal Secretary President 8-7-77
Friday, 8-7-77
A meeting of the Governing Board of the Stock Exchange was held today at S.T.
3.00 pm under the Chairmanship of Seth Vasantlal Champaklal wherein the
undermentioned members of the Board were present:
Seth Vasantlal Champaklal Mashruwala Seth Jaswantlal Chhotalal
Seth Phiroze J. Jeejeebhoy Seth Navinchandra Chhaganlal Kampani
Seth Vasantlal Kantilal Shah Seth Chhotalal Devchand Parekh
Seth Laldas Jamnadas Seth Ashokkumar G. Fozdar
Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya
Seth J.R. Motishaw Seth Haryantlal Narandas Sonawala
Government Nominees
Shri J.P. Mukherjee
Shri R.N. Bansal
Shri S.L. Shetty
The following business was transacted in the meeting:
1 Shri A.V. Ganeshan – Joint Secretary, Government of India, Finance Ministry
was present by invitation. The President welcomed him and introduced him to
the members of the Board.
2 The application dated 30-5-77 of the Poona School and Home for the Blind was
considered and it was resolved to give it a donation of Rs.101/-.
3 The applications for loans of the undermentioned persons of our office staff
were considered and it was resolved to give them loans of the amounts
mentioned against their names below:
Shri P.P. Dube Rs. 9000/- Sepoy Vilas Gyandev Rs.1500/-
Shri K. Shivraman Rs. 1500/- Sepoy Balkrishna Yashwant Rs.1000/-
Shri K. Ambyakshan Rs.1000/- Hamal Dhonde Sampat Rs.1000/-
4 The letters dated 31-5-77 and 29-6-77 of Shri S.H. Davda were read and it
was resolved to accept his resignation from 1-7-77 and to pay him the
amount of Rs.8275.16 accumulated in his Provident Fund and Rs. 4672.50 as
Gratuity.
5 The letter dated 2-7-77 of Shri Sureshchandra Nandlal shah was considered
and it was resolved to refund to him the additional membership security of
Rs.30,000/- given by him.
6 The application for partnership dated 28-4-77 of S/Shri Himatlal Fulchand and
Prakash Himatlal Shah was considered and it was resolved to approve their
partnership in the firm name of M/s Himatlal Fulchand with effect from 1-5-77.
7 The letters of the undermentioned were considered and it was resolved to give
them permission to do business as a Representative Member as shown below:
Nominating Member Representative Member
M/s N.M. Parekh Shri Jayantilal Nanalal Jariwala
Shri Hasmukh Lalbhai Shri Pravinchandra Babubhai Maniar
M/s Kantilal Chhaganlal M/s Ranchhodas Motiram Choksey & Co.
8 The application dated 1-3-77 of our retired Havaldar Shankar Rutnoji was
considered and it was resolved to give him pension.
9 Resolved to give sanction to the sale of securities from the investments of Sir
Shapoorji Broacha Brokers Helping Fund as shown below:
1 350 9% Preference shares of Tata Locomotive and Engineering Co.Ltd.
17-3-76
2 300 91/4% ‘A’ Preference shares of Andhra Valley Power Supply Co. Ltd.
24-3-76
3 460 9.3% ‘B’ Preference shares of Hindustan Aluminium Co.Ltd.
24-3-76
4 Rs. 2,64,000/- 73/4% Debentures 1978-80 of Tata Power Co.Ltd.
24-3-76
5 Rs. 25,000/- 73/4% Debentures 1977-78 of Hindustan Lever Ltd.
24-3-76
6 Rs. 22,000/- 71/2% Debentures 1977of the Tata Engineering Locomotive Co. Ltd.
31-5-76
7 125 shares of Standard Mills Co.Ltd. 26-11-76
It was further resolved to approve placing of the F.D. of Rs.4,00,000/- at 8%
per annum with the Stock Exchange.
10 It was resolved to confirm the sale of 31/4% 1947/77 loan of Rs. 77,500/- of
Bombay Municipal Corporation on 15-3-76.
11 Resolved that the amount of Rs. 46,011.37 to be received by us and the
amount of Rs. 36,444.90 to be paid by us to various parties should be written
off in our Income & Expenditure Account for the year 1976 as the claims in
respect thereof have become time barred. The details of the undermentioned
two amounts are as under:
The Amounts due to us:
1. Relating to advertisements.
1 Assam Silimanite Ltd. Rs. 3,300/-
2 M.T.A. Liniate Rs. 600/-
3 Allcoal Ashdown & Co. Ltd. Rs. 2,500/-
4 Structural Engineering Works Ltd. Rs. 7,500/-
5 Richardson & Crudas Ltd. Rs.12,000/-
6 Dindayal Tube Industries Ltd. Rs.15,000/-
Rs.40,900/-
2. Stamp charges to be recovered from members Rs.2325/-
3. Old books of Rules & Bye-laws Rs.2,786.37
Rs. 46,011.37
The amounts to be paid by us:
1 Shri A.J. Javeri Rs. 100/-
2 The Eastern Engineering Rs. 200/-
3 Gomo Kali Ltd. Rs. 13,258/-
4 Various small items Rs.2344.28p
5 Investment Publications Rs. 542.71
6 JBM World Trade Corporation Rs. 20,000/-
Total Rs.36,444.99
12. The Report, Income and Expenditure Account and the Balance Sheet of our
Association for the year 1976 were passed.
13 The Application dated 8-6-77 of Shri Vinodrai Ranchhodas Fozdar nominating
Shri Mahesh Jayantilal Patel as a member of the Exchange in his own place
was considered and after interviewing Shri Mahesh Jayantilal Patel and his
recommenders S/Shri Sumatilal Jamnalal and Ramesh Jayantilal Patel it was
resolved by 11 votes in favour and none against to elect Shri Mahesh
Jayantilal Patel as as a member of the Exchange in the place of Shri Vinodrai
Ranchoddas Fozdar, subject to the Rules and Bye-laws of the Exchange.
14 The application dated 28-5-77 of the near relatives of the late Shri Kantilal
Maganlal Dalal nominating Shri Rajendra Kantilal Dalal as a member of the
Exchange in the place of late Shri Kantilal Maganlal Dalal was considered and
after interviewing Shri Rajendra Kantilal Dalal and his recommenders S/Shri
Dhirajlal Maganlal Dalal and Ishvarlal Maganlal Dalal it was resolved by 11
votes in favour and none against to elect Shri Rajendra Kantilal Dalal as a
member of the Exchange in the place of late Shri Kantilal Maganlal Dalal ,
subject to the Rules and Bye-laws of the Exchange on condition that he will
get separated from Dalal Enterprises or and any other business he might be
engaged in at the time, he wants to start doing business in the market in his
own name.
15 The application dated 29-4-77 of Shri Hariprasad Shambhuprasad Mahadevia
nominating his own place Shri krishnachandra Laxmichand Shah as a member
of the Exchange was considered and after interviewing Shri Krishnachandra
Laxmichand Shah and his recommenders S/Shri Vrijalal Lallubhai and B. F.
Jhaveri it was resolved by 11 votes in favour and none against to elect Shri
Krishnachandra Laxmichand Shah as a member of the Exchange in the place of
Shri Hariprasad Shambhuprasad Mahadevia, subject to the Rules and Bye-laws
of the Exchange.
16 Resolved that as the Equity Shares of Rs. 100 each of Chowgule Steamships
Ltd. have been sub-divided into shares of Rs.10/- each, the trading lots of the
equity shares of Chowgule Steamships Ltd. should be changed to 50 equity
shares of Rs.10/- each.
17 The listing applications of the under mentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations and compliance with usual requirements and such other special
requirements stipulated by us as may be deemed proper by Chairman, the
securities of the companies mentioned below should be included in our list of
Non- cleared Securities and dealings therein should be done in the trading lots
specified against them.
The Titaghar Paper Mills Co. Ltd. ‘A’ Ordinary – 100 Shares The Titaghar Paper Mills Co. Ltd. ‘B’ Ordinary – 100 Shares The Titaghar Paper Mills Co. Ltd. Preferred Ordinary -100 Shares The Titaghar Paper Mills Co. Ltd. 8% Preference – 5 Shares The Titaghar Paper Mills Co. Ltd. 4 ½ Preference – 5 Shares Rane (Madras) Ltd. Equity – 100 Shares Rane (Madras) Ltd. A Class 7 % Preference – 100 Shares Rane (Madras) Ltd. 6% Preference – 100 Shares Coats of India Equity – 50 Shares Tata Finlay Ltd. Equity – 50 Shares Carbonates (India) Ltd. Equity – 50 Shares Carbonates (India) Ltd. Preference – 5 Shares Panchkula Mart Ltd. Equity – 50 Shares Sivalic Cellulose Ltd. Equity – 50 Shares Dolfin Hotels Ltd. Equity – 50 Shares Dolfin Hotels Ltd. Preference – 5 Shares Madhya Pradesh Vidyut Yatra Ltd. Equity – 50 Shares Gujarat Reclaim and Rubber Products Ltd.
Equity – 50 Shares
Banswara Syntex Ltd. Equity – 50 Shares Peoples Investments Ltd. Equity – 50 Shares Cadbury India Ltd. Equity – 50 Shares
ABS Plastics Ltd. Equity – 50 Shares Dufar Inerfran Ltd. Equity – 50 Shares Jokai India Ltd. Equity – 50 Shares Best & Crompton Engineering Ltd. Equity – 50 Shares Mulle & Phipps India Ltd. Non-Equity – 50 Shares Industrial Finance Corporation of India Ltd.
6 % Bonds 1987
18 As the Preference Shares of the Indian Link Chain Manufactures Ltd. have
been redeemed it was unanimously resolved to remove those shares from our
list of securities traded on the Exchange.
19 The letter dated 12-5-77 and 13-5-77 of Northern India Hotels were read and
it was unanimously resolved to remove its shares from our list of Securities
traded on the Exchange.
Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President
20-9-77
Tuesday 20-9-77
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Mathradas Samaldas wherein the undermentioned members of the Board were present: Seth Mathradas Samaldas Seth Jasvantlal Chhotalal Seth Phiroze J. Jeejeebhoy Seth Jayantilal R. Khandwala Seth Vasantlal Champaklal Mashruwala Seth Navinchandra Chhaganlal Kampani Seth Jayant Amerchand Seth A.R. Mahadevia Seth Rasiklal Maneklal Seth Chhotalal Devchand Seth J.R. Motishaw Seth Purshottam Gopiram Ruiya Seth Hariyantlal Narandas Sonawala
Government Nominees Shri M.R. Mayya Shri R.N. Bansal
The following business was transacted in the meeting: 1 The application dated 8-7-77 of Indian Red Cross Society for help was
considered and it was resolved to give it a donation of Rs.101/-.
2 The application dated 17-9-77 of our typist Shri B.L. Desai for giving them
assistance towards the expenses incurred by him for medical treatment during
his illness was considered and it was resolved to give him assistance of
Rs.698.45 from Seth KRP Shroff Stock Exchange Sarvajanik Fund.
3 The application dated 1-9-77 of our pensioner Shri K.B. Daruwala requesting
for an increase in his pension was considered and it was resolved to give him
help of Rs.750/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund.
4 The application dated 24-8-77 of our sepoy Vilas Gyandev for giving him
assistance of the College fee for the First Term of Inter Arts was considered
and it was resolved to give him assistance of Rs.177/- from Shri M.C. Mehta
Smarak Fund.
5 The application of our office staff dated 6-7-77 stating that the Provident Fund
organisation has decided to pay interest @ 8% per annum on the accumulated
amount of Provident Fund and therefore taking that into account the interest
on Provident Fund should be paid at 8% p.a. instead of 6% which is being paid
by us was considered and it was resolved that from the year 1977 we should
pay interest @ 8% per annum of the accumulated amount of the Staff
Provident Fund.
6 The letter dated 31-8-77 of Shri Ramesh Jayantilal Patel and Mahesh Jayantilal
Patel was considered and it was noted that Shri Mahesh Jayantilal Patel had
ceased to be a partner in the firm of M/s Jayantilal N. Patel with effect from
26-8-77 and from that date Shri Ramesh Jayantilal Patel had continued to do
business as the sole proprietor of the firm of M/s Jayantilal N. Patel.
7 The application dated 9-9-77 of S/Shri Sumatilal Jamnalal, Niranjan Jamnalal,
Yogesh Sumatilal and Paresh Sumatilal was read and it was noted that Shri
Niranjan Jamnalal had separated from the firm of M/s Sumatilal Jamnalal with
effect from 13-8-77.
8 The letter dated 5-9-77 of Smt. Ratti Merwanji Mehta was read and it was
resolved to give permission to Shri Jamnadas Kanji Venza to continue the
business of the late Shri Merwanji N. Mehta for one month.
9 Resolved that Shri Kirtilal K. Shah should be appointed as a member of the
Arbitration Committee in the vacancy caused by the demise of Shri L.N.
Kapadia.
10
The President informed the board about the cash credit Hypothecation Facility
being enjoyed by the Exchange with Central Bank of India, Bombay Main
Office, against hypothecation of the stocks of Iron &Steel Materials of the
Exchange lying with Engineering Construction Corp. Ltd. and / or with Gandhi
& Co. and / or lying at the construction site of our New Building and / or or
lying anywhere also subject to such margin and rate of interest as may be fix
by the Bank from time to time.
The President further informed the Board that under the Cash Credit amount
with Central Bank of India, Bombay Main Office, there was due and owing to
the Bank as on 17.9.7977 the debit balance of Rs.26,69,929.33 in the Stock
Exchange A/c No. J. 133 which was inclusive of interest at the rate of 16%
upto 31.08.1977.
The President further informed the Board that Central Bank of India had been
kind enough to increase Cash Credit hypothecation limit from Rs.25 Lacs to
Rs.55 Lacs against hypothecation of stocks as mentioned above.
The Board thereafter discussed this request and the following resolutions ware
thereafter adopted and passed;
1. Resolved that the Exchange do hereby confirm that the debit balance as on
17.9.1977 inclusive of interest upto 31.08.1977 in the Stock Exchange
Cash Credit hypothecation Account No. J. 133 with Central Bank of India,
Bombay Main Office is Rs.26,69,929.33
2. Resolved that the hypothecation of the stock of Iron & Steel Materials of
the Exchange lying with Engineering Construction Corp. Ltd. and / or with
Gandhi & Co. and / or lying at the construction site of our New Building and
/ or lying anywhere also shall continue to secure the aforesaid outstanding
and any other outstanding in future in the Stock Exchange C/C accounts
with Central Bank of India, Bombay Main Office or any other offices of the
Bank.
3. Resolved that Mr. Mathradas Samaldas, the President of the Exchange, Mr.
J. R. Motishaw, Member, Gov, Board and Mr. A. J. Shah, Secretary of the
Exchange be and are hereby authorised to execute Demand Promissory
Note for Rs. 35 Lacs and all the necessary documents that may be required
by Central Bank of India for securing the aforesaid outstandings as also for
further outstandings from time to time in C/C Account with Central Bank of
India, Bombay Main Office or any other offices of Bank, and the seal of the
Exchange be affixed on the said documents in accordance with the Rules,
bye-laws % Regulation of the Exchange
4. Further resolved that the Exchange do hereby confirm to Central Bank of
India that the Stock Exchange has no borrowings against above stocks by
any of hypothecation from any other Bank or from any other Financial
Institution or from any other person or persons or from any other firm or
Company.
5. Further resolved that the Exchange do hereby declare and ensure the said
Bank that these borrowing including the above mentioned Cash Credit
facility are within the borrowing powers of the Governing Board under the
Rules, Bye-laws & Regulations of the Exchange.
6. Resolved that the certified copy of the aforesaid resolution be furnished to
Central Bank of India, Bombay main office, under the signature of Mr.
Mathradas Samaldas, Chairmen of the meeting.
11 In connection with negotiations going on with the Central Bank of India for
obtaining the facility of further Funds, it was resolved as under
1. Resolved that in respect of the cash credit arrangement with Central Bank
of India for Rs.35 Lakhs against hypothecation of Iron and Steel Material it
be arranged with the Bank to release the said hypothecated material and to
grant to the Exchange additional cash credit facilities to the extent of Rs.20
Lakhs, i.e., to the extent of Rs.55 Lakhs in the aggregate and the Exchange
do agree to create in respect thereof a mortgage of the immovable
property of the Exchange situated at the junction of Dalal Street, Apollo
Stree and Hamam Street, Bombay, in favour of the Bank ranking pari
passu with any other charge thereon to the extent of a further sum of
Rs.20 lakhs, i.e., to the extent of Rs.75 lakhs in the aggregate, subject
however to the prior charge of the holders of the 8% Debenture stock,
1981 – 86 and further subject to the right of the Exchange to demolish the
temporary structures and the 4th and 5th floor of the Apollo Street Building
and the right to lease premises in the new building under construction for a
period upto 20 years and do execute all agreements, deeds, documents
and writing as may be required by the Bank for the purposes aforesaid.
2. Further resolved that all necessary documents as may be required by the
Bank including an irrevocable Power of attorney authorising the Bank to
execute behalf of the Exchange a mortgage as aforesaid be executed on
behalf of the Exchange by the President or Vice-President, a Member of the
Governing Board and the Secretary and seal of the Exchange be affixed
thereon.
12 The application dated 23-7-77 of Shri Ramshankar Popatlal Pandya nominating
Shri Edul Dhanjisha Sodawaterwala as a member of the Exchange in his own
place was considered and after interviewing Shri Edul Dhanjisha
Sodawaterwala and his recommenders S/Shri Bhupendra Champaklal and
Keki D. Mehta it was resolved by 13 votes in favour and none against to elect
Shri Edul Dhanjisha Sodawaterwala as a member of the Exchange in the
place of Shri Ramshankar Popatlal Pandya subject to the Rules and
Regulations of the Exchange.
13 The application dated 8-8-77 of the near relatives of the late Shri Jayantilal
Jamnalal Shah nominating Shri Pradip Jayantilal Shah as a member of the
Exchange in the place of late Shri Jayantilal Jamnalal Shah was considered and
after interviewing Shri Pradip Jayantilal Shah and his recommenders S/Shri
Jayant C. Shah and Rameshchandra Trikamlal it was resolved by 13 votes in
favour and none against to elect Shri Pradip Jayantilal Shah as a member of
the Exchange in the place of late Shri Jayantilal Jamnalal Shah subject to the
Rules and Bye-laws of the Exchange on the condition that he should not do
business in his own name for two years and that when he wasn’t to stat doing
business in his own name, he should separate himself from the firm of M/s
Indus Corporation and also from any other business he may be doing at that
time.
14 The application dated 25-8-77 of Shri Vallabhdas Dayal nominating Shri
Shantilal Dulabhdas Patel as a member of the Exchange in his own place was
considered and after interviewing Shri Shantilal Dulabhdas Patel and his
recommenders S/Shri Rasiklal Manilal Shah and G.R. Pandya it was resolved
by 13 votes in favour and none against to elect Shri Shantilal Dulabhdas Patel
as a member of the Exchange in the place of Shri Vallabhdas Dayal, subject to
the Rules and Regulations of the Exchange.
15 The application dated 12-8-77 of Shri Kapurchand Harjivandas Vora
nominating nominating Shri Devakikrishna Rajaram Keni as a member of the
Exchange in his own place was considered and after interviewing Shri
Devakikrishna Rajaram Keni and his recommenders S/Shri Manharlal
Shantilal and Jitendra Champaklal it was resolved by 13 votes in favour and
none against to elect Shri Devakikrishna Rajaram Keni as a member of the
Exchange in the place of Shri Kapurchand Harjivandas Vora, subject to the
Rules and Regulations of the Exchange and on the condition that he should not
do business in the market in his own name for two years.
16 The application dated 19-8-77 of the near relatives of the late Shri Ishwarlal
Thakordas Nanavati nominating Shri Vinod Ishwarlal Nanavati as a member
of the Exchange in the place of late Shri Ishwarlal Thakordas Nanavati was
considered and after interviewing Shri Vinod Ishwarlal Nanavati and his
recommenders S/Shri Bipin K. Kapadia and Jitendra Harjivandas it was
resolved by 13 votes in favour and none against to elect Shri Vinod Ishwarlal
Nanavati as a member of the Exchange in the place of late Shri Ishwarlal
Thakordas Nanavati subject to the Rules and Regulations of the Exchange.
17 As regards the matter relating to the application dated 1-9-77 of the near
relatives of the late Shri Amritlal Vasanji Shah nominating Shri Ramji
Bechardas Thakkar as a member of the Exchange in the palce of the late Shri
Amritlal Vasnji Shah the letter dated 20-9-77 of Shri Ramji Bechardas Thakkar
withdrawing this application for membership of the Exchange was read and
noted.
18 The additional reports dated 24-8-77 and 19-9-77 of Sir Shaporji Broacha
Brokers Helping Fund Committee were read and approved.
19 The listing applications of the undermentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and other special
requirements stipulated by us as may be deemed proper by the Chairman,
their below mentioned securities should be included in our list of Non-Cleared
Securities and trading in those securities should be done in the trading lots
mentioned against them:
Mahindra Spider Ltd. Equity 50 shares Dairy Ashmore India Ltd. Equity 50 shares Dairy Ashmore India Ltd. Preference 5 shares Enar Foundaries Ltd. Equity 50 shares Modern Syntex (India) Ltd. Equity 50 shares Ingersoll Rand (India) Ltd. Equity 50 shares Aurangabad Paper Mills Ltd. Equity 50 shares Shree Vindhya Paper Mills Ltd. Equity 50 shares M.P. Agro Morarjee Fertilisers Ltd. Equity 50 shares Bhadrachandra Paper Boards Ltd. Equity 50 shares
Bhadrachandra Paper Boards Ltd. Preference 5 shares K.S.B. Pumps Ltd. Equity 50 shares Delta Paper Mills Ltd. Equity 50 shares Himachal Worsested Mills Ltd. Equity 50 shares Indian Duplicator Co. Ltd. Equity 50 shares Hindustan Machine Tools Ltd. 10.5% Debentures 1
debenture Madhya Pradesh Audyogik Vikas Nigam Ltd. 10.5% Bonds 1987.
20 As the undermentioned companies have been taken into liquidation it was
unanimously resolved to remove their securities from our list of securities
traded on the Exchange:
Telly Sound (India) Ltd.
Chamunda Chemicals & Fertilisers Ltd.
21 As the undermentioned securities have been redeemed it was unanimously
resolved to remove them from our list of securities traded on the Exchange:
Tata Locomotives & Engineering Co.Ltd. old 9% ‘A’ Preference Cumulative
Shares.
The Indian Hume Pipes Co. Ltd. 7% (1977) Debentures.
22 Unanimously resolved that as the undermentioned securities have not yet paid
the Annual Listing Fees for the year 1977 though repeatedly demanded their
securities should be removed from the list of securities traded on the
Exchange if they don’t pay up the aforesaid fee before 1-11-77:
1. Andhra Steel Corporation Ltd.
2. Ajay Electrical Industries Ltd.
3. Bengal Ferro-Alloys Ltd.
4. Bright Wire Ltd.
5. Depeco Foods Ltd.
6. Enamelled Wires Ltd.
7. Gujarat Investments Trust Ltd.
8. Gangappa Cables Ltd.
9. Haryana Electrosteel Ltd.
10. Hicks Theremometers Ltd.
11. Hyderabad Vanaspati Ltd.
12. Indiaequip Engineering Ltd.
13. Jesons Electronics Ltd.
14. Kulkarni Foundaries Ltd.
15. The Kerala Rubber and Reelams Ltd.
16. Mohan Steels Ltd.
17. Malanda Ceramics & Industries Ltd.
18. Rainbow Steels Ltd.
19. Shree Mohan Ispat Ltd.
20. Southern Steel Ltd.
21. Surindra Stain Malt Ltd.
22. Spun Pipe and Construction Co. of India Ltd.
23. Superior Air Products Ltd.
24. Saraya Steel Ltd.
25. Telly Sound (India) Ltd.
26. Universal Wires Ltd.
27. Yeast Alco Enzymes Ltd.
Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President 1-11-77
1-11-77
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Mathradas Samaldas wherein the undermentioned members of the Board were present: Seth Mathradas Samaldas Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Jasvantlal Chhotalal Seth Vasantlal Champaklal Seth Navinchandra Chhaganlal Kampani Seth Laldas Jamnadas Seth Chhotalal Devchand Seth Jayant Amerchand Seth Ashokkumar Girdharlal Fozdar Seth Rasiklal Maneklal Seth A.R. Mahadevia Seth Purshottam Gopiram Ruiya
Government Nominees Seth J.P. Mukherjee
Shri M.R. Mayya Shri R.N. Bansal
The following business was transacted in the meeting: 1 Resolved that on Thursday 10-11-77 our market will remain open for doing
Muhurat business of Vikram Samvat 2034 from 6.30pm to 7.30 pm instead of
the usual ST. 12.00 to 2 pm.
2 The application dated 20-9-77 of The Allbless Edulji Framji Leprosy Home,
Trombay for help was considered and it was resolved to give it a donation of
Rs.101/-.
3 The application dated 20-10-77 of our office sepoy Govind Mahadev Khatale
for loan was considered and it was resolved to give him a loan of Rs.2000/-.
4 The application dated 20-10-77 of our office sepoy Raghunath Keshavji to give
him assistance towards the expenses incurred by him of Rs.272.65 for the
medical treatment of his wife during her illness was considered and it was
resolved to give him assistance of Rs.125/- from KRP Shroff Stock Exchange
Sarvajanik Fund.
5 The letter dated 13-10-77 of Shri Nareshkumar Jetsi asking for permission to
do business in the market in his own name was considered and it was resolved
that the request cannot be acceded to.
6 The letters dated 30-9-77 of S/Shri Manharlal Shantilal and Devakikrishna
Rajaram Keni was read and it was resolved to confirm the permission given to
Shri Devakikrishna Rajaram Keni to do business in the market as a
Representative Member of Shri Manharlal Shantilal.
7 The President referred to the Board Resolution dated 19.8.1975 and reported
that Bank of India (hereinafter referred to as “the Bank”) had at the request of
the Stock Exchange agreed to continue to grant to the Stock Exchange
demand loan facilities upto a limit of Rs.17,50,000/- on terms, conditions and
security mentioned below:
Limit : Rs.17,50,000/- Term : Demand – Without prejudice to the demand nature of the
loan, it is to be repaid by annual instalments of Rs.3.50 lakhs each commencing from 26-7-77.
Rate of Interest: 61/4% over bank rate minimum 151/4% per annum with quarterly interest.
Security: 1. Demand Promissory Note by the Stock Exchange, Bombay in favour of the Bank and endorsed by them jointly and each severally in favour of the Bank;
2. Continuing security agreement; 3. Letter of Lien & Set-off; 4. Hypothecation of electronic computer and other
accessories thereof, alongwith a supplemental deed of hypothecation.
The President requested the Governing Board to pass the necessary
resolutions for continuance of the loan facility to confirm the debit balance in
the account, the documents executed and the security created in favour of the
Bank, in terms of the Form L.444C sent by the Bank.
IT WAS RESOLVED AS FOLLOWS:
1. THAT the Stock Exchange do continue to borrow from the Bank from
time to time by way of loan facility on terms as aforesaid and repayable
on demand upto a limit of Rs.17,50,000/- with interest 61/4% over Bank
Rate minimum 151/4% per annum with quarterly rests or such other
terms and at such other rate/s of interest, as may be notified by the
Bank to the Stock Exchange from time to time.
2. THAT the Stock Exchange do confirm and acknowledge the debit
balance in the account, the documents executed and the security
created in favour of the Bank, in terms of Form L.444C sent by the
Bank and that in token of such confirmation and acknowledgement the
common seal of the Stock Exchange be affixed to the said Form L.444C
in presence of and the same may be signed on behalf of the Stock
Exchange by Mr. Mathradas Samaldas, President, Mr. Jivanchand R.
Motishaw, Member, Governing Board and countersigned by Mr. Amritlal
J.Shah, Secretary of The Stock Exchange.
3. THAT the said loan account be operated upon and instructions
concerning the same may be given by and any acknowledgements or
confirmations of debit and/or security which may be required by the
Bank may be given on behalf of the Stock Exchange as heretofore.
4. AND THAT a copy of the foregoing resolutions certified to be a true copy
by the Chairman be furnished to the Bank.
8 The application dated 14-10-77 of the near relatives of the late Shri
Chhaganlal Nagardas nominating Shri Ramanlal Chhaganlal Dalal as a
member of the Exchange in the place of late Shri Chhaganlal Nagardas was
considered and after interviewing Shri Ramanlal Chhaganlal Dalal and his
recommenders S/Shri Ramdas Lallubhai and Jitendra Champaklal Dalal it was
resolved by 14 votes in favour and none against to elect Shri Ramanlal
Chhaganlal Dalal as a member of the Exchange in the place of late Shri
Chhaganlal Nagardas subject to the Rules Bye-laws of the Exchange.
9 The application dated 14-10-77 of the near relatives of the late Shri Jamnalal
Manruplal Koradia nominating Shri Niranjan Jamnalal Koradia as a member
of the Exchange in the place of late Shri Jamnalal Manruplal Koradia was
considered and after interviewing Shri Niranjan Jamnalal Koradia and his
recommenders S/Shri P.R. Shah and Manubhai Maneklal it was resolved by
14 votes in favour and none against to elect Shri Niranjam Jamnalal Koradia
as a member of the Exchange in the place of late Shri Jamnalal Manruplal
Koradia subject to the Rules Bye-laws of the Exchange.
10 The application dated 26-9-77 of the near relatives of the late Shri
Champaklal Chimanlal Sadagar nominating Shri Ajaykumar Ramanlal Vakharia
as a member of the Exchange in the place of late Shri Champaklal Chimanlal
Sadagar was considered and after interviewing Shri Ajaykumar Ramanlal
Vakharia and his recommenders S/Shri Shantilal Vakharia and Rasiklal S.
Jhaveri it was resolved by 13 votes in favour and one against to elect Shri
Ajaykumar Ramanlal Vakharia as a member of the Exchange in the place of
late Shri Champaklal Chimanlal Sadagar subject to the Rules Bye-laws of the
Exchange on the condition that he should not do business in the market in his
own name for one year.
11 The listing applications of the undermentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and other special
requirements stipulated by us as may be deemed proper by the Chairman,
their below mentioned securities should be included in our list of Non-Cleared
Securities and trading in those securities should be done in the trading lots
mentioned against them:
Hindustan Dorr-Oliver Ltd. Equity 50 shares
Polymers Corporation of Gujarat Ltd. Equity 50 shares Polymers Corporation of Gujarat Ltd. Preference 5 shares Haryana Detergents Ltd. Equity 50 shares Sterling Steel and Wires Ltd. Equity 50 shares Orient Plywood and Engineering Industries Ltd. Equity 50 shares Gujarat Carbon Ltd. Preference 5 shares Maharashtra Scooters Ltd. Equity 50 shares Modi Carpets Ltd. Equity 50 shares Economic Development Corporation of Goa, Daman and Diu Ltd.
61/4% Boonds of 1987 Rs.1000/-
Hindustan Lever Ltd. New Equity 25 shares Chowgule Steamships Ltd. New Equity 50 shares Aruna Sugars Ltd. 11% Preference 5 shares
12 Unanimously resolved that as Madhya Pradesh Industries Ltd., has been
amalgamated with Straw Products Ltd., the securities of Madhya Pradesh
Industries Ltd., should be removed from our list of securities officially quoted
on the Exchange.
13. Unanimously resolved that as Gujarat Investment Trust Ltd., has gone into
liquidation the securities of that company should be removed from the list of
securities quoted on the Exchange.
14. Unanimously resolved that as the undermentioned securities are being
redeemed they should be removed from the list of securities quoted on the
Exchange:
Oil India Ltd. Debentures
Sumco Meters Ltd. Redeemable Preference Shares.
Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President 19-12-77
Tuesday, 19-12-77 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Mathradas Samaldas wherein the undermentioned members of the Board were present: Seth Mathradas Samaldas Seth Jayantilal Rangiladas Khandwala Seth Phiroze J. Jeejeebhoy Seth Vasantlal Jivatlal Seth Laldas Jamnadas Seth Navinchandra Chhaganlal Kampani Seth Jayant Amerchand Seth A.R. Mahadevia Seth Rasiklal Maneklal Seth Chhotalal Devchand Seth J.R. Motishaw Seth Ashokkumar Girdharlal Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya Seth Haryantlal Narandas Sonavala
Government Nominees Shri M.R. Mayya
The following business was transacted in the meeting: 1 The applications for help of the undermentioned organisations were read and it
was resolved to give a Donation of Rs.101/- to each of them:
1) All India Federation of the Deaf.
2) Maharashtra State Anti-Tuberculosis Association
2 The application dated 19-10-77 of Shree Badipara Harijan Yuvak Mandal was
read and it was resolved that no help can be given to it.
3 The application for loan of our Hamal Shankar Sakharam was read and it was
resolved to give him a loan of Rs.2000/-.
4 The letters of the undermentioned members were read and it was resolved to
give permission to do business as Representative Member as shown below:
Nominating Member Representative Member
M/s Sumatilal Jamnalal Shri Niranjan Jamnalal Koradia
Shri Manubhai Maneklal Shri Shrikishan M. Damani
Shri Babubhai Maganlal Gandhi Shri Ramanlal Chhaganlal Dalal
Shri Kantilal Jivanlal Vakharia Shri Ajaykumar Ramanlal Vakharia
Shri Bhagwandas Gordhandas Shri Kardam Rajendra Dalal
5 The Holidays of our Association for the year 1978 were fixed.
6 The application dated 1-11-77 of Shri Jayantilal Thakarlal Gambhirwala
nominating Shri Shriram Shrinivas as a member of the Exchange in his own
place was considered and after interviewing Shri Shriram Shrinivas Narsaria
and his recommenders S/Shri Bhogilal Trikamlal Shah and Champaklal
Jamnadas it was resolved by 13 votes in favour and none against to elect Shri
Shriram Shrinivas as a member of the Exchange in the place of Shri Jayantilal
Thakarlal Gambhirwala subject to the Rules Bye-laws of the Exchange on the
condition that he should not do business in the market in his own name for
nine months.
7 As the construction work of our new building has been restarted it was
resolved that in order to maintain contacts and represent on our behalf with
the contractors in that connection, Lt. Gen. P.D.Jain should be appointed as
out representative (Owners representative) with full powers and befitting
honorarium should be paid to him for that.
Further resolved that the appointment of Shri Maheshbhai H. Patel on a
monthly pay of Rs.1950/- and subject to the conditions mentioned in our letter
of 31-10-77 as Project Engineer should be approved.
8 The letter dated 28-11-77 of Shri Mahavir Ispat Ltd., was read and it was
unanimously resolved that as the company has paid up the annual listing fee
for the year 1977, its securities should be re-listed for trading on the
Exchange.
Shri A.R. Mahadevia came and joined the meeting at this point of time.
9 The listing applications of the undermentioned companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations
as well as compliance with the usual requirements and other special
requirements stipulated by us as may be deemed proper by the Chairman,
their below mentioned securities should be included in our list of Non-Cleared
Securities and trading in those securities should be done in the trading lots
mentioned against them:
Reliance Textile Industries Ltd. Equity 50 shares Atul Chemical Industries Ltd. Equity 50 shares Sarvodaya Paper Mills Ltd. Equity 50 shares The Pondicherry Paper Mills Ltd. Equity 50 shares Magnesite and Minerals Ltd. Equity 50 shares Magnesite and Minerals Ltd. Preference 5 shares Bihar Air Products Ltd. Equity 50 shares Vidyut Steel Ltd. Equity 50 shares Dempo Dairy Industries Ltd. Equity 50 shares Stepen Chemicals Ltd. Equity 50 shares Stepen Chemicals Ltd. Preference 5 shares
10 As the undermentioned securities have been redeemed it was unanimously
resolved to remove them from our list of securities tracked on the Exchange:
Texamco 9.3% Preference Shares
India Forge & Drop Stampings Ltd. –Preference Shares
Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President 14-2-78
Page 1 of 4
Tuesday, 14-2-78.
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00
p.m. under the Chairmanship of Seth Mathradas Samaldas, wherein the
undermentioned Members of the Board were present:
Seth Mathradas Samaldas Seth Jasvantlal Chhotalal
Seth Phiroze Jeejeebhoy Seth Jayantilal Rangildas Khandwala
Seth Vasantlal Champaklal Seth Navinchandra Chhaganlal Kampani
Seth Vasantlal Kantilal Shah Seth A. R. Mahadevia
Seth Jayant Amerchand Seth Chhotalal Devchand
Seth Rasiklal Maneklal Seth Ashokkumar Girdharilal Fozdar
Seth J. R. Motishaw Seth Hariyantlal Narandas Sonawala
Government Nominee
Seth M. R. Mayya
Shri R. N. Bansal
Shri J. G Gogte
1.
The following business was transacted in the meeting
Government letter dated 30.12.77 regarding Shri J. G. Gogte’s
appointment’s on our Board as an Alternate Government Director for Shri S.
L. Shetty, Director of the Economics Department of the Reserve Bank of
India, was read out and taken note of.
The President while welcoming Shri J. G. Gogte expressed the hope that his
valuable advise and guidance will prove useful to us.
2. The application dated 01.12.78 of the Dump and Deaf Institution for help was
considered and it was resolved to donate a sum of Rs. 101/- to it.
3. The application dated 25.01.78 of our pensioner Shri. Maganbhai Jinabhai
Desai was considered and it was resolved to give him help of Rs. 100/- pm.
from Seth KRP Shroff Stock Exchange Sarvajanik fund.
Page 2 of 4
4. The application of the under mentioned persons of our office staff were
considered and it was resolved to approve the loans given to them as shown
below
Shri. G. S. Tompe Rs. 1,000/-
Sepoy Dinanath Sarmalkar Rs. 2,000/-
Hamal Shankar Sakharam Rs. 2,000/-
5. The application for loans of the undermentioned persons of our office staff
were considered and it was resolved to give them loans as shown below:
Shri M. V. Bhandare Rs. 5,000/-
Sweeper Khachera Dhureram Rs. 1,000/-
6. The letter dated 18.01.78 of Shri Vasantlal Jivatlal and Chandrkant Jivatlal
was considered and it was resolved to approve the partnership between them
from 31.12.97 under the firm name of M/s. Kantilal Purtapsi.
7. The application dated 10. 01. 78 of the near relatives of the late Shri Jivatlal
Purtapsi nominating Shri Chandrakant Jivatlal Dalal as a Member of the
Exchange in the place of the late Shri Jivatlal Purtapsi was considered and
after interviewing Shri Kantilal Purtapsi and his recommenders S/Shri
Champaklal Jamnadas and V. D. Vakil it was resolved by 13 votes in favour
and none against to elect Shri Chandrakant Jivatlal as a Member of the
Exchange in the place of the Late Shri Jivatlal Purtapsi, subject to the Rules
and Regulation of the Exchange.
8.
The application dated 28-01-78 of the near relatives of the late Shri Amrutlal
Vasanji Shah nominating Shri Harkishan Mulchand Shah as a member of the
Exchange in the place of the late Shri Amratlal Vasanji Shah was considered
and after interviewing Shri Harkishan Mulchand Shah and his recommender
Shri B. D. Shroff it was resolved by 13 votes in favour and none against to
elect Shri Harkishan Mulchand Shah as a member of the Exchange in the
place of late Shri Amratlal Vasanji Shah subject to the Rules and Regulations
of the Exchange.
9. The application dated 30-01-78 of the near relatives of the late Shri Merwanji
Navroji Mehta nominating Shri Jamnadas Kanji Vanza as a member of the
Exchange in the place of the late Shri Merwanji Navroji Mehta as a member of
the Exchange in the place of the late Shri Merwanji Navroji Mehta was
considered and after interviewing Shri Jamnadas Kanji Vanji and his
recommenders S/Shri Ishwarlal Maganlal Dalal and Suryakant Harilal Maniar,
Page 3 of 4
it was resolved by 13 votes in favour and none against to elect Shri
Jamnadas Kanji Vanza as a member of the Exchange in the place of the late
Shri Merwanji Navroji Mehta, subject to the Rules and Regulations of the
Exchange.
10. RESOLVED THAT the interest accrued uptil now on the loan given to the late
Shri Champaklal Chimanlal should be written off:
FURTHER RESOLVED THAT after deducting the amount of the loan given to
him by us towards its repayment from the sale proceeds of his membership
right, the balance amount of Rs. 14,000/- should be kept as deposit with the
Association and the interest thereon should be paid for maintenance of his
minor children- Master Shrenik Chimanlal Saudagar and Kumari Bhavna
Chimanlal Saudagar in monthly instalments and the aforementioned amount
of Rs. 14,000/- should be handed over to them when they attain adulthood.
11. Resolved that Tueday 28-03-78 should be fixed as the day for election of the
Governing Board for the year 1978-79.
12. The application of the National News Print and Paper Mills Ltd dated 24-01-78
for re – enlistment of their securities for trading or the Exchange was
considered and it was resolved to re-enlist their securities in the Non-Cleared
Securities List.
13. The Listing applications of the undermentioned companies were considered
and it was unanimously resolved that , subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us according to the conditions as may be
deemed proper by the Chairman, their securities should be included in our list
of Non Cleared Securities and their trading lots should be fixed as shown
below :
Kulkarni Black and Deeker Son Equity 50 shares
India Foils Ltd Equity 50 shares
Ajanta Tubes Ltd Equity 50 shares
Ajanta Tubes Ltd Preference 5 shares
Mandolee Pallets Ltd Equity 50 shares
Mandolee Pallets Ltd Preference 5 shares
Gujarat Aromatics Ltd Equity 50 shares
Gujarat Aromatics Ltd Preference 5 shares
Bi- Metal Bearings Ltd Equity 50 shares
Page 4 of 4
Asea Ltd Equity 50 shares
Raj Hans Steel Ltd Equity 50 shares
Raj Hans Steel Ltd Preference 5 shares
Chougule Matrex Hotels Ltd Equity 50 shares
Chougule Matrex Hotels Ltd Preference 5 shares
Novopan India Ltd Equity 50 shares
Shree Rayalaseema Paper Mills
Ltd
Equity 50 shares
Shree Rayalaseema Paper Mills
Ltd
Preference 5 shares
Hyderabad Connectronics Ltd Equity 50 shares
South East Footware Ltd Equity 50 shares
Nath Pulp Paper Mills Ltd Equity 50 shares
Nath Pulp Paper Mills Ltd Preference 5 shares
Oceanic Investments Ltd Equity 50 shares
Jasmine Investments Ltd Equity 50 shares
Dalal Street Investments Ltd Equity 50 shares
Rose Investments Ltd Equity 50 shares
Bhavi Investments Ltd Equity 50 shares
The Britania Biscuit Co. Ltd New Equity 100 shares
The Central Pulp and Paper Mills
Ltd
New Equity 5 shares
The Industrial Credit and
Investment Corporation of India
Ltd
6 ½ % Debentures
(1998)
Uttar Pradesh Electricity Board 6 ¼ % Bonds (1987)
Uttar Pradesh Electricity Board 6 ¼ % Bonds (1987)
(Second Series)
9. As the undermentioned securities have been redeemed, it was unanimously
resolved to remove them from the list of securities traded on the Exchange.
Bharat Commerce and Industries Ltd 9.3% Second Preference Shares
Susser Textile Bearings Ltd Preference Shares
10. The Report dated 10-02-78 of Sir Shapaorji Broadia Brokers Helping Fund was
considered and it was resolved to approve it.
Sd/- Sd/-
A J Shah Mathradas Samaldas
Secretary President
Dt : 10-03-1978
Page 1 of 3
Tuesday, 10-3-78
A meeting of the Governing Board of the Stock Exchange was held today at 3.00
p.m. under the Chairmanship of Seth Mathradas Samaldas, wherein the under
mentioned members of the Board were present:
Seth Mathradas Samaldas Seth Jasvantlal Chhotalal
Seth Phiroze Jeejeebhoy Seth Jayantilal RangildasKhandwala
Seth Vasantlal Champaklal Seth Navinchandra Chhaganlal Kampani
Seth Vasantlal Kantilal Shah Seth A. R. Mahadevia
Seth Jayant Amerchand Seth Chhotalal Devchand
Seth Rasiklal Maneklal Seth Ashokkumar G Fozdar
Seth J. R. Motishaw Seth Hariyantlal Narandas Sonawala
Government Nominee
Shri M. R. Mayya
Shri R. N. Bansal
Shri J. G Gogte
The following business was transacted in the meeting:
1 The application dated 23-3-78 of our Sepoy Vilas Gyand to give him
assistance for payment of second-term College fee of Inter Arts was
considered and it was resolved to give him that much amount of the fee from
Shri M. C. Mehta Smarak Fund, i.e. Rs. 225/-
2 The application dated 28-2-78 of the sweeper-bai Tara Mohan for giving her
help for medical treatment expenses during her sickness was considered and
it was resolved to give her that much help from Seth KRP Shroff Stock
Exchange Sarvajanik fund.
3 The application dated 22-3-78 of our watchman Shri S. K. Tal for giving him a
loan was considered and it was resolved to give him a loan of Rs. 1,500/- .
4 Resolved that donation of Rs. 5,001/- given to Seth KRP Shroff Stock
Exchange Sarvajaink Fund on 24-12-77 is approved.
Page 2 of 3
5 The application dated 10-03-78 of S/Shri Vasantlal Jivatlal Dalal and
Chandrakant Jivatlal Dalal for partnership between them was considered and
it was resolved to approve their partnership with effect from 10-4-1978 under
the firm name of M/s. Kantilal Partapsi.
6 The application dated 14-02-78 of Shri Soli Barjorji Bilimoria nominating Shri
Homi Kekhsaru Unwala as a member of the Stock Exchange in his own place
was considered after interviewing Shri Homi Kekhsaru Unwala and his
recommender Shri Keki J. Khambhata it was resolved by 13 votes in favour
and none against to elect Shri Homi Kekhsaru Unwala as a member of the
Exchange in the place of Shri Soli Barjorji Bilimoria subject to the Rules and
Regulation of the Exchange.
7 The tenders for the aluminum windows of the podium of our new building
from (1) M/s Godrej & Boyce (2) M/s. Alumonde and (3) Beklabet
respectively for Rs. 5,11,665/-, Rs. 3,38,732/- and Rs. 4,07,748/- were
considered and it was resolved to accept the letter of M/s. Godrej and Boyce
for Rs. 5,00,000/- with glasses for the windows after confirming with them.
8 At the time of appointment of M/s. Manek & Dastoor as air-conditioning
consultants for our new building, terms of their remuneration were decided.
However, in the course of the correspondence with them, remuneration
except on the new terms mentioned in their letter dated 6-1-78 is not
acceptable to them. It is therefore resolved that instead of M/s. Manek &
Dastoor, M/s Raman & Associates should be appointed as air-condition
consultant through our architects-M/s. Architectural Research Unit with the
terms of arrangement made with M/s. Manek & Dastoor suitably modified
according to the present circumstances.
9 The application of Shri Vasantrai Damodar Mehta dated 17-2-78 nominating
Shri Bhupatrai Lalchand Shah as a member of the Exchange in his own place
was considered and after interviewing Shri Bhupatrai Lalchand Shah and his
recomender Shri Navalchand Tarachand Shah it was resolved by 13 votes in
favour and none against to elect Shri Bhupatrai Lalchand Shah as a member
Page 3 of 3
of the Exchange in the place of Shri Vasantrai Damodar Mehta subject to the
Rules and Bye-Laws of the Exchange.
10 The application date 15-2-78 of Mohan Steels for re-enlistment of their
securities for trading on the Exchange was considered and it was resolved to
re-admit their securities in our list of Non Cleared Securities.
11 The listing application of the under mentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements on such conditions as it may deemed proper by the
Chairman, their securities should be included in our list of Non- cleared
Securities and their trading lots should be fixed as shown below:
Mukarian Papers Ltd. Equity 50 Shares
Sarvodaya Investment Equity 50 Shares
and Trading Co. Ltd
12 The letter dated 6-3-78 of Shri Mahesh J Patel informing that the
undermentioned companies had dropped their public issues were considered
and it was resolved to give their listing applications.
1) Acme Investments Ltd.
2) Gold Rock Investments Ltd.
3) Silver Line Investments Ltd.
sd/- sd/-
A.J Shah J. R. Motishaw
Secretary President
Date: 2-5-78
Page 1 of 6
Tuesday 2-5-78
A meeting of the Governing Board of the Stock Exchange was held today at S.T.
4.00 p.m.in the beginning under the Chairmanship of Seth J. R. Motishaw and later
under the chairmanship of Shri Mathradas Samaldas wherein the under mentioned
Members of the Board were present:
Seth Mathradas Samaldas Seth Bhupendra Champaklal Devidas
Seth Phiroze Jeejeebhoy Seth J. R. Motishaw
Seth Vasantlal Champaklal Seth A. R. Mahadevia
Seth Jaswantlal Chhotalal Seth Ashok Kumar G. Fozdar
Seth Vasantlal Kantilal Shah Seth Jayantilal Rangildas Khandwala
Seth Jayant Amerchand Seth Purshottam G. Ruiya
Seth Rasiklal Maneklal Seth Chhotalal Devchand
Seth Vasantlal Jivatlal
Government Nominee
Shri M. R. Mayya
Shri J. G Gogte
The following business was transacted in the meeting
1 Proposal by Seth Jayant Amerchand and seconded by Seth Purshottam
Gopiram Ruiya, Seth J. R. Motishow was unanimously elected as Chairmen
of today’s meeting in the beginning.
2 Proposed by Seth J. R. Motishaw and supported by Jayant Amerchand it was
unanimously reelected that Shri Mathradas Samaldas Kothari should be
elected as President.
Seth J. R. Motishow handed over the Chairmanship of the meeting to
Seth Mathradas Samaldas
Seth Mathradas Samaldas thanked all the Members of the Board for the
trust / reposed in him by them. Expressing his sense of gratitude for the
support and cooperation given to him last year by all the members of the
Board and Government Nominees, be expressed hope that during the
current year also they would continue giving support and cooperation in the
same manner.He congratulated Seth Bhupendra Champaklal for being
elected to the Board and welcomed him.
Page 2 of 6
3 Proposed by Seth Jayant Amerchand and supported by Seth Ashokkumar G.
Fozdar it was unanimously resolved to elect Seth Vasantlal Champaklal
Mashruwala as the Vice-President.
4 Proposed by Seth Mathradas Samaldas and supported by Seth Jayant
Amerchand it was unanimously resoled to elect Shri Navinchandra
Chhaganlal Kampani as the Hon. Treasurer
5 Resolved that the undermentioned persons should be nominated as
members of the Arbitration Committee for the year 1978-79
Shri Keki N. Chinoy Shri V. K. Nanvati
Shri Jayantlal M. Dalal Shri Jayarndra D. Mehta
Shri Champaklal Balubhai Marfatia Shri Rasiklal S. Jhaveri
Shri D. V. Shukla Shri Govindbhai B. Desai
Shri Hariram Dwarkadas Shri Jitendra Champaklal Mashruwala
Shri Bhagubhai Amthalal Gandhi Shri Ramdas Lallubhai
Shri S. M. Shah Shri Shirish Chimanlal Dave
Shri Nagindas Trambaklal Parekh Shri Kirtilal K. Shah
6 Resolved to appoint the Arbitration Committee for the year 78-79 consisting
of the under mentioned Members
Seth Jayant Amerchand Seth Jayantilal Mansukhlal Dalal
Seth Vasantlal Kantilal Shah Seth Rasiklal S. Jhaveri
Seth Jasvantlal Chhotalal Seth Nagindas Trambaklal Parekh
7 Resolved to appoint Sir Shopoorji Broacha Brokers Helping Fund Committee
consisting of the undermentioned Members :
Seth Mathradas Samaldas Seth Vasantlal Champaklal Mashruwala
Seth J. R. Motishaw Seth Dhirajlal Maganlal
8 Resolved to appoint the Building Committee consisting of S/Shri Mathuradas
Samaldas, Vasantlal Champaklal Mashruwala, J. R. Motishaw, Jayant
Amerchand, Rasiklal Maneklal, Vasantlal Kantilal Shah, and Jaswantlal
Chhotalal
9 “Resolved that cheques be signed by the President Shri Mathradas
Samaldas, or the Chairman Shri P. J. Jeejeebhoy, or the Vice-President Shri
Vasantlal Champaklal, or the Hon. Treasurer Shri Navinchandra Chhaganlal
Kampani and any one of the following six members of the Governing Board
Page 3 of 6
namely, Shri J. R. Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand,
Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A. R.
Mahadevia and be countersigned by the Secretary Shri A. J. Shah and in his
absence by Shri S. N. Karaka or Shri M. D. Vyas,”
10 “Resolved that the various Accounts and Safe Custody Account of the
Exchange with the Bank of India be operated on jointly by the President
Shri Mathradas Samldas, or the Chairman Shri P. J. Jeejeebhoy, or the Vice-
President Shri Vasantlal Champaklal, or The Hon. Treasurer Shri
Navinchandra Chhaganlal Kampani and by any one of the following six
members of the Governing Board, namely, Shri J. R. Motishaw, Shri Rasiklal
Maneklal, Shri Jayant Amerchand, Shri Vasantlal Kantilal Shah, Shri
Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned by the
Secretary, Shri A. J Shah and in his absence by Shri S. N. Karaka or Shri M.
D. Vyas,”
11 “Resolved that the Current Accounts and Safe Custody Accounts with Bank
of India in the name of The Stock Exchange Staff Provident Fund and The
Stock Exchange Staff Gratuity Fund be operated on either by any two of the
Trustees of the Exchange for the time being of the survivors or survivor of
them or jointly by the Hon. Treasurer Shri Navinchandra Chhaganlal
Kampani, and any one of the following Six Members of the Governing Board
namely, Shri J. R. Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand,
Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A. R.
Mahadevia and be countersigned by the Secretary Shri A. J. Shah and in his
absence by Shri S. N. Karaka or Shri M. D. Vays.”
12 The application of “Hind Kusta Nivaran Sangh”: Maharashtra Branch was
considered and it was resolved to give it a donation of Rs. 101/-.
13 The letter dated 03-04-1978 of Seth G. N. Kamdar of our office staff was
read and it was resolved to accept his resignation with effect from 01-05-
1978 and pay him his accumulated Provident Fund amount of Rs.
11,434.90 and Rs. 6,782.10 as Gratuity
14 The application dated 21-03-1978 of our Sepoy Tukaram Bhikaji, for loan
was considered and it was resolved to approve the loan of Rs. 3,000/- given
to him.
15 The application for loan of the under mentioned persons of our office Staff
were considered and it was resolved to give them loans as mentioned below
against their name;
Sepoy Madhukar Bhima Rs. 500/-
Sepoy Pandurang Zilu Rs. 2,000/-
Page 4 of 6
16 The application dated 01-04-1978 of our liftman Tukaram Laxman for giving
him help for the expenses for medicine incurred by him in connection with
the operation of cataract in his eye was considered and it was resolved to
give him help of Rs. 113/- from Seth KRP Shroff Stock Exchange Sarrajanik
fund.
17 The application for the undermentioned partnership were considered and
approved
Name of the Partnership Firm Name of Partner Date of
Partnership
M/s. S. A. Deshpande & Co. Shri Shankar Amrut Deshpande
Shri Hasmukhlal Maneklal Shah
Shri Bhupendra Lalchand Seth
1-4-78
M/s. Girdharlal Dhanraj
Khaitan
Girdharilal Dhanraj Lhaitan
Jairaj Dhanraj Khaitan
17-4-78
18 The letters of the undermentioned members were considered and it was
resolved to give permission for doing business as Representative Members
as shown below.:
Nominating Member Representative Member
M/s. CRD Bagri & Sons Shri Jayantilal N. Jariwala
Shri Harkishan M. Shah Shri Jamnadas Kanji Varza
19 The application dated 10-3-78 of the near relations of the Late Shri
Shantilal Liladhar Thar, nominating Shri Jitendra Ratilal Shroff as a Member
of the Exchange in the place of the Late Shri Shantilal Liadhar Thar was
considered and after interviewing Shri Jitendra Ratilal Shroff and his
recommenders S/Shri Kekhsaru M. Kheshawala and Rasiklal S. Jhaveri it
was resolved by 13 votes in favour and none against to elect Shri Jitendra
Ratilal Shroff as a Member of the Exchange in the place of the Late Shri
Shantilal Liladhar Thar, subject to the Rules and Regulation of the
Exchange.
Shri Rasiklal Maneklal joined the meeting at this moment.
20 Tha application dated 15-3-78 of Shri Kalyanbhai Maganlal nominating Shri
Hiralal Keshavdev Podar as a member of the Exchange in his own place was
considered and after interviewing Shri Hiralal Keshavdev Podar and his
recommenders S/Shri Bhagwandas K. Suchde and Damodarprasad R.
Saboo, it was resolved by 14 votes in favour and none against to elect Shri
Page 5 of 6
Hiralal Keshavdev Podar as a Member of the Exchange in the place of Shri
Kalyanbhai Maganlal, subject to the Rules and Regulation of the Exchange.
21 The application dated 13-4-78 of Shri Gordhandas Bhagwandas nomination
Shri Kanchanlal Kantilal Vakharia as a member of the Exchange in his own
place was considered and after interviewing Shri Kanchanlal Kantilal
Vakharia and his recommenders S/Shri Ramdas Lallubhai and Jitendra
Champaklal Mashruwala it was resolved by 14 votes in favour and none
against to elect Shri Kanchanlal Kantilal Vakharia as a Member of the
Exchange in the place of Shri Gordhandas Bhagwandas subject to the Rules
and Regulation of the Exchange.
22 The correspondence with Bright Wires Limited regarding re- enlistment of
its securities for trading in the Exchange was considered and it was resolved
to re-admit it securities in the list of securities traded on the Exchange.
23 The Listing application of the under mentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us on such conditions as may be deemed
proper by the Chairman, their securities should be included in our list of
Non-Cleared Securities and their trading lots should be fixed as shown
below:
Press Metal Corporation Ltd. Equity 50 shares
Garare Wall Ropes Ltd. Equity 50 Shares
Thefted carpets and Woolens Industries Ltd. Equity 50 Shares
Kerala Chemicals and Proteins Ltd. Equity 50 Shares
Housing and Development Finance Corporation Ltd. Equity 5 Shares
24 The letter of the undermentioned companies were read and it was
unanimously resolved that some of these companies do not want their
securities to continue in our list of securities traded on the Exchange, their
securities should be removed from the list of securities traded on the
Exchange.
Jugilal Kamalapet Cotton Spg & Wvg. Mills Co. Ltd.
National Rubber Manufacturers Ltd.
25 As the Preference Shares of L. G. Rubber Works Ltd. have been redeemed,
it was unanimously resolved to remove those shares from our list of
Securities traded on the Exchange.
26 The Chairman explained the present position regarding our new building
under construction and informed that the tenders received for its civil work
Page 6 of 6
were being scrutinized. He added that due to escalation of cost during the
time the construction work had stopped, the Otis Elevator Company had
increased the prices of lift and now we shall have to pay the price of about
Rs. 7,00,000/- per lift.
27 As our Plumbing consultant M/s. Hydro Mechanical Services have asked for
an increase in their fee for the work relation to preparation of new drawing
Report and Tender for fire fighting facilities etc. the matter was considered
and it was resolved to increase the amount of their fees by approximately
Rs. 15,000/-.
28 After having considered the tenders of M/s. Hercules Rolling Shutters, M/s.
Swastik Rolling shutters, M/s. A. P. Ornamental Shutters and M/s
Shubhdwar Rolling Shutters for Rs. 74,601/50 , Rs. 57,111/82, Rs,
53,576/25 and Rs. 68,10327 respectively for shutters of the Podium of our
new it was resolved to accept the tender of M/s. A. P. Ornamental
29 The Chairman informed the Board that as against our members requirement
of 5,000/- Transfer forms per day, we receive from the Registrar of
Companies about 5,000 forms, members have lot of difficulty in getting
delivery of Shares. In view of this, we have been making efforts to obtain
an electronic machine which could make endorsement on the transfer forms
with greater speed and if we succeed in that we should give one such
machine to the Registrar of Companies for use so that it becomes easy to
supply transfer forms to our members according to their requirements.
Sd/- Sd/-
A. J. Shah Mathradas Samaldas
Secretary President
Date: 26-5-78
Page 1 of 3
Friday, 26-5-78.
A meeting of the Governing Board of the Stock Exchange was held today,at S.T. 3.00 pm
was held under the Chairmanship of Seth Mathradas Samaldas wherein the
undermentioned members of the Board were present:
Seth Mathradas Samaldas Seth Vasantlal Jivatlal
Seth Phiroze Jeejeebhoy Seth Bhupendra Champaklal Devidas
Seth Vasantlal Champaklal Seth J. R. Motishaw
Seth Vasantlal Kantilal Shah Seth A.R. Mahadevia
Seth Navinchandra Chhaganlal Seth Jayantilal Rangildas Khandwala
Kampani
Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya
Seth Rasiklal Maneklal Seth Chotalal Devchand
Government Nominees
Shri J.P. Mukherjee
Shri M.R. Mayya
The following business was transacted in the meeting:
1. The application dated 23-3-78 of the Poona School and Home for the Blind was
considered and it was resolved that a donation of Rs. 101/- should be given to it.
2. The applications for loan of the undermentioned persons of our office staff were
considered and it was resolved to grant them loan as mentioned below
a. Shri N.M A/c ---------------------- Rs. 5000/-
b. Liftman Tukaram Laxman ------- Rs. 2000/-
3. The application of Shri Harivallabhdas Chunilal Shroff dated 26-4-78 nominating
Shri Keshavji Dhanji as a member of the Exchange in his own place was considered
and after interviewing Shri Keshavlal Dhanji, and his recommenders S/Shri
Jayantilal G Shah and Manek H.P Byramji, it was resolved by 10 votes in favour and
3 against to elect Shri Keshavlal Dhanji as a member of the Exchange in the place
of Shri Harivallabhdas Chunilal Shroff, subject to the Rules and Regulations of the
Exchange on the condition that he should not do business in the market in his own
name until 9-4-80.
Page 2 of 3
4. Resolved that Seth J.R. Motishaw, and Seth Rasiklal Maneklal, and S/Shri A.J. Shah
and S.N. Karaka should be appointed as Trustees of the Stock Exchange Staff
Provident Fund.
5. Resolved give approval to the donation of Rs. 3,50,000/- given from Stock
Exchange Education and Research Services Fund by its Trustees to the Stock
Exchange Foundation (which has been approved under Section 35(1) of the Income
Tax Act) for Social Services Research on the condition that Rs. 3,00,000/- out of
that donation will be regarded as corpus.
6. Having considered the tender for the Civil work of our new building submitted by
M/s B.E. Billimoria & Co. and Mona Construction of Rs. 55,77,251/13 and Rs.
81,17,891/37 respectively, it was resolved to accept the tender of M/s B.E.
Billimoria & Co.
7. Resolved to approve the lumpsum payment of Rs. 7,00,000/- made to our
contractors Engineering Construction Corporation for all the expenses relating to
labour, material, form work, ware-house rent, insurance, investment of money,
dispersal and re-establishment of the work facilities during the period of more than
2½ years of stoppage of construction work of our new building from the month of
March 1975, and also to approve the decision of giving an increase of 10% of in the
original tender rates for the remaining work in the view of the escalation of prices
during the above mentioned period of 2½ years.
8. The listing applications of the undermentioned Companies were considered and it
was unanimously resolved that, subject to the Listing Rules and Regulations as well
as Compliance with the usual requirement and other special requirements
stipulated by us according to the conditions as may be deemed proper by the
Chairman, their below mentioned securities should be included in our list of Non-
Cleared Securities and their trading lots should be fixed as shown below:
a. Rasoi Vanaspati and Industries Ltd. ---Equity---50 Shares
b. Vishal Malleables Ltd. --------------------Equity—50 Shares
9. The correspondence with Gujarat Machinery Manufacturers was gone through and it
was unanimously resolved to remove its securities from our list of securities traded
Page 3 of 3
on the Exchange as the company has failed to comply with our listing requirements
inspite of repeated warnings and to give an assurance or clarification sought by us.
10. As Shri J.P. Mukherjee was getting promoted from his present rank in the Finance
Ministry and joining the Company Law Ministry as Joint Secretary, the President
congratulated him on his own behalf and on behalf of the Board and wished him
success in the new post and also expressed the hope that Shri Mukherjee will
continue to give us the benefit of his valuable advice, guidance, support and co-
operation as before.
Sd/ Sd/
A.J. Shah Mathradas Samaldas
Secretary President
Dt: 27-06-08
Page 1 of 4
Tuesday, 27-6-78
A Meeting of the Governing Board of the Exchange was held today at 3.00 P.M.
under the Chairmanship of Seth Mathradas Samaldas wherein the undermentioned
members of the Board were present:
Seth Mathradas Samaldas Seth Rasiklal Maneklal
Seth Phiroze Jeejeebhoy Seth Vasantlal Juratlal
Seth Vasantlal Champaklal Seth Bhupendra Champaklal Devidas
Seth Jasvantlal Chhotalal Seth J. R. Motishaw
Seth Vasantlal Kantilal Shah Seth A. R. Mahadewa
Seth Navinchandra Chhaganlal Kampani Seth Jayantilal Rangildas Khandwala
Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya
Seth Chhotalal Devchand
Government Nominees
Shri M. R. Mayya
Shri M. L. Chavla
Shri R. N. Bansal
Shri J. G. Gogte
The following business was transacted in the meeting:
1. Shri L. R. Munjal, Jt. Director, Finance Ministry Government of India, was present
by invitation. The President mentioned that Shri L. R. Munjal was to be
transferred from his present post and thanked him for the support and co-
operation given by him to the Board and also wished him success in his new post.
The President also mentioned that Shri M. R. Mayya was to be promoted and was
to go to Delhi in place of Shri Z. R. Munjal and in his place here Shri M. Z.
Chavla has been appointed as Dy. Director and Government Nominee on our
Board. He welcomed Shri Chavla and congratulated both of them success in their
new posts and also expressed hope that the Board will continue to get their
valuable support and co-operation as before.
Page 2 of 4
2. The application dated 26-6-78 of our office staff Shri V. K. Suvarna was
considered and it was resolved to give him a loan of Rs. 3,000/-.
3. The letter dated 30-5-78 of Shri Naresh Jetsi was considered and it was resolved
to give him permission to do business in the market in his own name.
4. The letter dated 9-6-78 of Shri P. D. Shukla and Shri Kishorji Dhanji were
considered and it was resolved to give permission to Shri Kishorji Dhanji to do
business as a Representative Member of Shri P. D. Shukla.
5. The application dated 1-6-78 of S/Shri Vinayak Bhikaji Desai and Jitendra Ratilal
Shroff was considered and it was resolved to approve their partnership under the
name of M/s. V. B. Desai from 6-6-78.
6. The letter dated 20-6-78 of Shri M. J. Halai was considered and it was resolved
that as he has been forbidden from doing business there is no question of issuing
a badge to him or any other person for entering the trading hall .
7. The Report, Income and Expenditure account and Balance sheet of our
Association for the year 1977 were passed.
8. According to the existing Rules and Regulations adjustment of interest in the case
of transactions in the Government Securities is made on net basis. The
Government’s letter dated 11-5-78 suggested that the adjustment should be
made on the gross interest basis was considered and the matter was postponed
for further consideration.
9. The application dated 27-5-78 of the near relatives of the Late Shri Hiralal
Liladhar Sheth nominating Shri Bharat Hiralal Sheth as a member of the
Exchange in the place of the Late Shri Hiralal Liladhar Sheth was considered. In
that connection, the letters of S/Shri Dwarkadas J. Madnani, Bhajandas
Jethanand Madnani, Jaysukh A. Sampat and Shyam G. Prajapati dated 5-6-78, 9-
6-78, 12-6-78 and 17-6-78 respectively were considered and after interviewing
the above mentioned Shri Bharat Liladhar Sheth and his recommenders S/Shri
Prabhudas Liladhar and K. C. Vakharia it was resolved by 12 votes in favour and
Page 3 of 4
2 against the application of Shri Bharat Liladhar Shah to elect him as a member
of the Exchange in the place of the Late Shri Hiralal Liladhar Sheth to the Rules
and Regulations of the Exchange and on the condition that he should not do
business in the market in his own name for two years and even after that he
should not do business in his own name without obtaining the permission of the
Governing Board.
10. The application of Ogle Glass Works Ltd. dated 13-6-78 for re-enlistment of its
securities for trading on the Exchange and it was unanimously resolved to re-
admit its securities in our list of Non-Cleared Securities.
11. The listing applications of the undermentioned companies for en-listment of their
Securities on the Exchange were considered and it was unanimously resolved
that, subject to the Listing Rules and Regulations as well as Compliance with the
usual requirements and such other special requirements stipulated by us,
according to the conditions as may be deemed proper by the Chairman, their
Securities should be included in the list of non-cleared securities and their trading
lots should be fixed as shown below:
Kinetic Engineering Ltd….. Equity…..50 Shares
Goetz India Ltd…………… Equity…..50 Shares
Refractory Specialities (India) Ltd… Equity…..50 Shares
Pressure Cookers & Appliances Ltd. Equity…..50 Shares
Tata Robins Frazers Ltd….. Equity…..50 Shares
Core Products Co (India) Ltd…. Equity…..50 Shares
India Carb Ltd……. Equity…..50 Shares
Gajara Bevel Gears Ltd…… Equity…..50 Shares
Kartak Investments Ltd….. Equity…..50 Shares
Oscar Investments Ltd…. Equity…..50 Shares
The Industrial Credit and
Investment Corporation of India… 6½ % Debentures (1998)
12. Unanimously resolved to remove the Securities of Sundalta Foods and Fibres
Ltd. from our list of securities traded on the Exchange, as it has been merged
with Modern Mills Ltd.
Page 4 of 4
13. Unanimously resolved to remove the under mentioned securities from our list
of Securities traded on the Exchange as they have been redeemed:
Indian Aluminum Co. Ltd. ……….. 6½ % Debentures 1998
Mysore Cements Ltd. ……… 9.5% Preference Shares
Sd/- Sd/-
A. J. Shah Mathradas Samaldas
Secretary President
Dt. 10-8-1978
Page 1 of 8
Thursday, 10-8-78
A meeting of the Governing Board of Exchange was held today at S. T. 3.00 pm
under the Chairmanship of Seth Mathradas Samaldas, wherein the undermentioned
members of the Governing Board were present.
Seth Mathradas Samaldas Seth Rasiklal Maganlal
Seth Phiroze J. Jeejeebhoy Seth Vasantlal Jivatlal
Seth Vasantlal Champaklal Seth Bhupendra Champaklal Devidas
Seth Jasvantlal Chhotalal Seth J. R. Motishaw
Seth Vasantlal Kantilal Shah Seth A. R. Mahadevia
Seth Laldas Jamnadas Seth Ashok Kumar Girdharlal Fozdar
Seth Navinchandra Chhaganlal Kampani Seth Purshottam G. Ruiya
Seth Chhotalal Devchand
Government Nominees
Shri M. L. Chavla
Shri R. K. Bansal
Shri J. G. Gogte
Shri L. R. Munjal and Shri M. R. Mayya were present by invitation.
The following business was transacted in the meeting.
1 The application dated 5-8-78 of our sepoy Vilas Gajendra for granting his
college fees for the first term of BA. ( Part First) was consider and it was
resolved to grant him fees from Shri M. C. Mehta Smarak Fund.
2 The application of the undermentioned staff of our office for Home loans
were considered and it was resolved to give them loans of the amounts
showing against their names below:
Shri K. V. Shankar Rao Rs. 20,000/-
Shri T. G. Babu Rs. 5,000/-
Shri ABS Nayar Rs. 5,000/-
3 The letters of the undermentioned members were considered and it was
resolved to give them permission for doing business in the market as
Representative Members as shown below:
Nominating member Representative member
Shri J. D. Sanghavi Shri N. K. Sanghavi
M/s. Prabhudas Liladhar M/s. Hiralal Liladhar
M/s. kantilal Ishwarlal Shri Dhirajlal Kalyanji Vora
Page 2 of 8
4 In connection with the complaint of Shri D.K. Bharucha against Shri. J. T.
Halai and the correspondence with them after hearing them it was
unanimously resolved that taking into consideration the complaints against
Shri J. T. Halai and also that he had been doing business in his own name
inspite of having been banned, he should be expelled from the membership
of the Exchange, for his conduct not fulfilling a member of the Exchange.
5 The application dated 22-6-78 of the near relatives of the late Shri
Bhanuprasad Jethalal Mahadevia nominating Shri Jagmohandas Varajdas
Dalal as a member of the Exchange in the place of the late Shri
Bhanuprasad Jethalal Mahadevia was considered and after interviewing Shri
Jagmohandas Varjdas Dalal and his recommenders S/Shri R. V. Varde and
Madhusudan D. Ghia it was resolved by 14 votes in favour and none against
to elect Shri Jagmohandas Varajdas Dalal as a member of the Exchange in
the place of the late Shri Bhanuprasad Jethalal Mahadevia, subject to the
Rules and Regulation of the Exchange.
6 RESOLVED THAT pursuant to the resolution of the member of the Exchange
dated 20th December, 1974, the Stock Exchange do agree with General
Insurance Corporation of India to borrow sum not exceeding in the
aggregate the amount of Rs. 1,825,46,000/- with interest @ 8% p.a. on
condition that as from a suitable date to be mutually agreed upon the same
be repaid by the Exchange over a period of 15years by fixed equal monthly
installments of principal and interest @ 8% p. a. on the average of the
reducing balance of the principal amount. The fixed equal monthly
installment for an advance of Rs. 1 Lakh being Rs. 890.750 (i.e. Rs.
555,555 towards principal and Rs. 335.195 towards interest), and to secure
the said advance and interest and all other money payable in respect
thereof the Exchange do agree to a enter into an Agreement with the
Corporation agreeing to create in favour of the corporation a mortgage on
the immoveable properties of the Exchange ranking pari pasu with the
mortgage created or to be created in favour of other lenders and the
Exchange to further agree with the Corporation to execute in its favour an
irrevocable Power of Attorney authorizing the Corporation to create such
mortgage on behalf of the Exchange SUBJECT HOWEVER TO – (i) the prior
charge in respect of the Rs. 2 crores 8% Debenture Stock, 1981-86 issued
by the Exchange together with interest and all other money payable as well
as any renewal with or without modification in respect thereof and
subsequent charge in favour of Central Bank of India an / or other parties
securing a sum not exceeding Rs. 75 lakhs in the aggregate advanced by
them to the Exchange together with interest and all other moneys payable
Page 3 of 8
in respect thereof; (ii) the proviso that the amount advanced by Central
Bank of India / or other parties as aforesaid and outstanding at any given
time together with the amount secured under mortgage as aforesaid for the
benefit of the Corporation and the said lenders at any given time shall not
exceed Rs. 5 crores in the aggregate; (iii) the right of the Exchange to
demolish the temporary structures and the Apollo Street building and the
right to lease premises in the new building under construction for a period
upto 20 years.
FURTHER RESOLVED THAT Shri Mathradas Samaldas, the President,Shri J.
R. Motishaw, Member of the Governing Board, and Shri A. J. Shah, the
Secretary of the Exchange, be and are hereby authorized to do the needful
in the aforesaid matter and in particular to approve and sign for and on
behalf of the Exchange any Agreement or Agreements and to do and
execute such other deeds, documents, writing and things ( including an
Irrevocable Power of Attorney) that may be deemed necessary.
(B) RESOLVED THAT: pursuant to the resolution of the members of the
Exchange dated 20th December, 1974 The Stock Exchange do agree with
General Insurance Corporation of India to give on lease four tower floors in
the new building under construction for term of three years with options on
the part of the Corporation to renew the leas for further terms of three
years each at the rent of Rs. 2.20 per sq. ft. and on other suitable terms
and conditions.
FURTHER RESOLVED THAT: Shri Mathradas Samaldas the President, Shri J.
R. Motishaw Member of the Governing Board and Shri A. J. Shah the
Secretary of the Exchange, be and are hereby authorized to do the needful,
in the matter aforesaid and particulars to approve and sign for and on
behalf of the Exchange any Agreement of Agreements and to do and
execute such other deeds, documents, writing and things that may be
deemed necessary.
(c.) RESOLVED THAT pursuant to the Resolution of the members of the
Exchange dated 20th December, 1974 The Stock Exchange do agree with
General Insurance Corporation of India to provide and / or cause to be
provide Air-conditioning services and other special amenities; services and
facilities at the monthly charge of Rs. 1.75 and Rs. 2.20 per sq. ft.
respectively on four tower floors in the new Building under construction
agreed to be leased to the Corporation for the period co-extensive and co-
terminus with the period of the lease or any renewals thereof.
FURTHER RESOLVED THAT Shri Mathradas Samaldas the President, Shri J.
R. Motishaw Member of the Governing Board and Shri A.J. Shah, the
Page 4 of 8
Secretary of the Exchange, be and are hereby authorized to do the needful
in the matter aforesaid and in particular to approve and sign for and on
behalf of the Exchange any Agreement of Agreements and to do execute
such other deeds, documents, writing and things that may be deemed
necessary.
7 The Board noted the letter dated 10-8-78 of our Trustees giving their
consent to the arrangement made in connection with four tower floors in
our new building under construction to be given on lease to the General
Insurance Corporation of India and the loan of Rs. 1,20,46,000/- to be
given by to the Stock Exchange as mentioned above. The space in the
western part of the ground floor of the above mentioned building to be
given on lease for a period of upto 15 years to the Bank of India and buy-
back of the 8% Stock Exchange debenture of Rs. 47,50,000/- in fixed
suitable installments from the lease rent and / or Air-condition or other
service charges payable by the Bank.
8 Resolved that the salaries and grades of our Secretary and the officers
should be fixed as shown below against their names with effect:
Name Grade Salary Date
Shri A. J. Shah Rs. 3125-125-4000 3125 1-1-75
Shri R. R. Nair Rs. 2600-100-3000 2600 1-1-76
Shri J. M. Lalco Rs. 1500-50-1750 1700 1-1-78
Shri S. N. Karaka Rs. 1500-50-1750
-75-2050
1600 1-1-78
Shri K.V.B.S. Rao Rs. 1250-50-1750 1450 1-1-78
Shri M. D. Vyas Rs. 1250-50-1750 1400 1-1-78
Shri Nariman N. Dubash Rs. 1250-50-1750 1400 1-1-78
Shri G. N. Purohit Rs. 750-50-1250 850 1-1-78
More over our secretary Shri A.J.Shah and the statistical officer Shri
R.R.Nair should be given an increase of Rs.100/- with the effect from 1-1-
78 in the monthly allowance given to all the persons pursuant to the Board’s
Resolution dated 18-2-75
9 Resolved that pursuant to the arrangements that has been decided, grades,
salaries, dearness allowance etc. of our office Clerks, Sepoy and others
should be raised and kept as under with effect from 1-9-77
‘A’ Grade Clerk: Rs. 200-15-260-20-400-25-600
‘B’ Grade Clerk Rs. 90-9-135-11-190-13-255-16-335
‘C’ Grade Clerk Rs.70-7-105-9-150-11-205-12-265
Dispatch, Xerox etc. Rs. 50-6-86-7-156-8-212
Page 5 of 8
Sepoy / Watchman / Liftman Rs. 40-5-90-6-138-7-180
Bhatt / Hamal / Sweeper Rs. 36-4-68-5-118-6-148
Those whose salary dose not fit appropriately in their grade on 1-9-77
should be placed in the next higher stage in the grade and adjusted
accordingly and the annual increment from 1-1-78 should be given in the
grade from the step so raised:
Dearness allowance:
‘A’ and ‘B’ Grade Clerk Rs. 400/- p.m.
‘C’ Grade Clark Rs. 350/- p.m.
The remaining Subordinate Staff Rs. 250/- p.m.
The dearness allowance will be increased or decreased by Rs. 2.75 for every
raise or fall of 10 points respectively etc., in the Consumer Price Index No.
1021 according to the fix monthly average of the old Index of Bombay
Consumer Price Index (1937 Base)
Medical Benefit : from 1-1-78 to the permanent Staff members, 75% of the
medical bill subject to the maximum limit of Rs. 200/- per annum.
Leave travel Assistance : from 1-1-78 to the permanent staff member
where they go on at least 20 days privilege Rs. 150/- only once in the year
or rs. 300/- only once in two year.
Sick Leave: To the permanent staff members 14 days for every one year’s
service on ½ of the salary and ½ of the allowance. Sick Leave can be
accumulated upto a maximum of 60 days and it would not be obligatory to
utilize all the accumulated privilege live before taking benefit by the sick
leave.
10 The application dated 22-6-78 of Andhra Steel Corporation Ltd., for re-
enlistment of its securities for trading on the Exchange was considered and
it was unanimously resolved to re-admit its securities in our Non-Cleared
Securities list
11 The listing applications of under mentioned companies were considered and
it was unanimously resolved that, subject to listing Rules and Regulations as
well as compliance with the usual requirements and others special
stipulated by us on such considerations as may be deemed proper by the
Chairman, their Securities should be included in our list of Non-Cleared
Securities List and their trading lots should be fixed as shown below:
Konark Jute Ltd. Equity 50 Shares
Ponds (India) Ltd. Equity 50 Shares
Acemeasures Punjab Ltd. Equity 50 Shares
Page 6 of 8
Warren Tea Ltd. Equity 50 Shares
Macleod Russel (India) Ltd Equity 50 Shares
Kalinde Woollon Mills Ltd. Equity 50 Shares
Gold Rock Investments Ltd. Equity 50 Shares
M. M. Rubber Co. Ltd. Equity 50 Shares
North Beher Sugar Mills Ltd. Equity 50 Shares
Hariyana Sheet Glass Ltd. Equity 50 Shares
Mahavali Investment Co. Ltd. Equity 50 Shares
Cresent Dyes and Chemicals Equity 50 Shares
12 Unanimously resolved to remove the 8% First and Second series
Debentures of Modi Industries Ltd., from our list of the Securities traded on
the Exchange as may have been redeemed.
13 The letter of the Surat Electricity Co. Ltd. dated 17-4-78 was considered
and it was unanimously resolved to remove its 7¾ % Debentures from the
list of Securities traded on our Exchange.
Sd/- Sd/-
A. J. Shah Mathradas Samaldas
Secretary President
Date: 24-10-78
Page 7 of 8
The Governing Board had passed undermentioned resolution by the circular dated
29-8-78:
“The representation dated 26-8-78 of Shri Vinaychandra Narbheram Parekh
and other members was considered and it was resolved that as Thursday,
7-9-78 Samvat holiday of Shankerseth Jains our market should kept closed
for business on that day.”
Sd/- Sd/-
A. J. Shah Mathradas Samaldas
Secretary President
Date 24-10-78
The Governing Board had passed the following resolution by Circular dated 21-9-78
“RESOLVED THAT it be arranged with the Andhra Bank Ltd. to grant to the
Exchange cash credit facilities to the extent of Rs. 20 lakhs and the
Exchange do agree to create in respect thereof a mortgage of the
immovable property to the Exchange situate at the junction of Dalal Street,
Apollo Street and Hamam Street, Bombay,in favour of the Bank ranking pari
passu with existing charge thereon of Central Bank of India to the extent of
Rs. 55 lakhs, i.e., to extent of Rs. 75 lakhs in the aggregate, subject to the
prior charge of the holders of the 8% Debenture Stock, 1981-86 and further
subject to the right of the Exchange to demolish the temporary structure
and the 4th and 5th floor of the Apollo Street Building and the right to lease
premises in the new building under the construction for a period upto 20
years and do execute all agreements, deeds, documents and writing as may
be required by the Andhra Bank Ltd. for the purposes aforesaid
FURTHER RESOLVED THAT all necessary documents as may be required by
the Andhra bank Ltd. including an irrevocable Powers of Attorney
authorizing the Bank to execute on behalf of the Exchange a mortgage as
aforesaid be executed on behalf of the Exchange by the President of Vice-
President, a Member of the Governing Board and the Secretary and the Seal
of the Exchange be affixed thereon.
FURTHER RESOLVED THAT: a Currant Account be opened with The Andhra
Bank Ltd., Fort, Bombay, in favour of The Stock Exchange, Bombay and
that the said Account be operated by the President, Shri Mathradas
Samaldas, or the Chairman of Shri P. J. Jeejeebhoy, or the Vice-President,
Page 8 of 8
Shri Vasantlal Champaklal or the Hon. Treasurer, Shri Navinchandra
Chhaganlal Kampani and any one of the following six Members of the
Governing Bard, namely, Shri. J. R. Motishaw, Shri Rasiklal Maneklal, Shri
Jayant Amerchand, Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal
and Shri A. R. Mahdevia and be countersigned by the Secretary, Shri A. J.
Shah and in his absence by Shri. S. N. Karaka or Shri. M. D. Vyas.”
Sd/- Sd/-
A. J. Shah Mathradas Samaldas
Secretary President
Date 24-10-78
Page 1 of 7
Tuesday, 24-10-1978
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00
p.m. under the Chairmanship of Seth Mathradas Samaldas, wherein the
undermentioned members of the Board were present:
Seth Mathradas Samaldas Seth Vasantlal Jivatlal
Seth Phiroze J. Jeejeebhoy Seth Bhupendra Champaklal Devidas
Seth Vasantlal Kantilal Shah Seth J.R. Motishaw
Seth Navinchandra Chhaganlal Kampani Seth Ashokkumar Girdharlal Fozdar
Seth Jayant Amerchand Seth Jayantilal Rangildas Khandwala
Seth Rasiklal Maneklal Seth Purushottam Gopiram Ruiya
Seth Chhotalal Devchand Parikh
Government Nominees
Shri M.R. Mayya
Shri M.L. Chawla
Shri R.N. Bansal
Shri J.G. Gogte (Alternate)
The following business was transacted in the meeting:
1. Resolved that the time for doing muhurat business transactions for the
Vikram samvat 2035 should be kept from 6.15 to 7.15 pm on Tuesday, 31-
10-78.
2. The President informed the Board that Shri M.R. Mayya has been appointed
on our Board as the Government Nominee in the place of Shri J.P.
Mukherjee. He welcomed Shri Mayya and expressed hope that the Board
will continue to receive his valuable support and co-operation as before.
3. The applications of the undermentioned institutions for help were
considered and it was resolved to give a donation of Rs. 101/- to each of
them.
1) All India Deaf & Dumb Society.
2) Society for the vocational rehabilitation of the retarded.
3) Eduljee Framjee Allbless Leprosy Home.
4. The application of our officer Shri F.A. Sahukar for giving him assistance
towards the expenses for operation of prostate gland was considered and it
was resolved to give him assistance of Rs. 680.50 from Seth K.R.P. Shroff
Stock Exchange Sarvajanik Fund.
Page 2 of 7
5. The letter dated 4-10-78 of Shri Amratlal Parmandas was read and it was
resolved to accept his donation of Rs. 1,501/- to Sir Shapoorji Broacha
Brokers Helping Fund, with thanks.
6. The application dated 7-9-78 of our office clerk Shri M.K. Shivaraman to
give him assistance towards the medical expenses during his sickness of
jaundice was considered and it was resolved to give him assistance of
Rs.330/- from Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund.
7. The application for loan of our office clerk Shri G.S. Tonpe for loan dated 7-
9-78 was considered and it was resolved to give him a loan of Rs. 1,000/-.
8. The application dated 9-8-78 of our pensioner Shri K.B. Daruwala was
considered and it was resolved that the pension that is being given to our
undermentioned persons should be increased and from 1-10-78 they
should be given pension monthly pension as shown against their names:
1. Shri Maganlal Jivabhai Desai Rs.300/-
2. Shri K.B. Daruwala Rs. 300/-
3. Shri Mahadev Atmaram Mane Rs. 70/-
4. Shri Bhiwa Babi Rs. 65/-
5. Shri Bhi Arjun Dhag Rs. 65/-
6. Shri Shankar Ratnoji Mane Rs. 75/-
9. The letter dated 29-8-78 of Shri Ashok Sunderlal was read and it was noted
that from 25-8-78 he has continued to do business as the sole proprietor of
the firm of M/s Khimchand Amerchand.
10. The applications for the undermentioned partnership were considered and
they were approved:
Name of the
Partnership Firm
Names of Partners Date of
Parnership
M/s J.V. Dalal Shri Jagmohandas Varajdas Dalal
Shri Nandkishore Jagmohandas
Dalal
22-8-78
M/s R.K. Joshi Shri Rajaram Kalidas Joshi
Shri Parikshit Rajaram Joshi
1-11-78
11. The letters dated 17-10-78 of S/shri Sanat M. Dalal and Upendra M. Dalal
were read and it was resolved to give permission to Shri Upendra M. Dalal
to do business as a Representative Member of Shri Sanat M. Dalal.
12. The President referred to the Board Resolution dated 1st November, 1977
and reported that Bank of India (hereinafter referred to as “the Bank”) had
at the request of the Stock Exchange agreed to continue to grant to the
Page 3 of 7
Stock Exchange demand loan facilities upto a list of Rs.17,50,000/- on
terms, conditions and security mentioned below:
Limit: Rs.17,50,000/-
Term: Demand- without prejudice to the demand nature
of the loan, it is to be repaid by annual
installments of Rs.3.50 lacs each commencing from
26.7.1977.
Rate of Interest: 6% over bank rate minimum 15% per annum with
quarterly rates.
Security: 1. Demand promissory notes by the Stock
exchange Bombay, in favour of the Bank;
2. Continuing Security Agreement;
3. Letter of Lien and Set-off;
4. Agreement of hypothecation in respect of the
Electronic Computer and other accessories
thereof alongwith a supplemental deed of
hypothecation;
5. Letter of Confirmation form L.444C. dated
3.11.77
Margin: 15%
The President requested the Governing Board to pass the necessary resolutions for
continuance of the loan facility, to confirm the debit balance in the account, the
documents executed and the security created in favour of the Bank in terms of the
Form L.444C sent by the Bank.
IT WAS RESOLVED AS FOLLOWS:
1. THAT the Stock Exchange do continue to borrow from the Bank from
time to time by way of loan facility on terms as aforesaid and repayable
on demand upto a limit of Rs.17,50,000/- with interest at 6% over
Bank Rate minimum 15% per annum with quarterly rests or such other
terms and at such other terms and at such other rate/s of interest, as
may be notified by the Bank to the Stock Exchange from time to time.
2. THAT the Stock Exchange do confirm and acknowledge the debit
balance in the account, the documents executed and the security
created in favour of the bank, in terms of Form L.444 C sent by the
bank,and that in token of such confirmation and acknowledgement, the
Common Seal of the Stock Exchange be affixed to the said Form L.444
Page 4 of 7
C in presence of and the same may be signed on behalf of the Stock
Exchange by Mr. Mathradas Samaldas, President, and Mr. Jivanchand R.
Motishaw, Member of the Governing Board and countersigned by Mr.
Amritlal J. Shah, Secretary of the Stock Exchange.
3. THAT the said loan account be operated upon and instructions
concerning the same may be given by and any acknowledgements or
confirmations of debt and /or security which may be required by the
Bank may be given on behalf of the Stock Exchange as heretofore.
4. AND THAT a copy of the foregoing resolutions certified to be a true
copy by the Chairman be furnished to the Bank.
13. The application dated 7-8-78 of Shri Kaikhushru Ardeshir Patel nominating
Shri Naval Hormasji Patel as a member of the Stock Exchange in his own
place was considered and after interviewing Shri Naval Hormasji Patel and
his recommenders Shri H.P. Byramji it was resolved by 11 votes in favour
and one against to elect Shri Naval Hormasji Patel as a member of the
Exchange in the place of Shri Kaikhushru Ardeshir Patel, subject to the
Rules and Regulations of the Exchange.
14. The application dated 31-7-78 of the near relatives of Shri Natverlal
Jivanlal Desai nominating Shri Jaykishan Harkishan Bohra as a member of
the Stock Exchange in the place of the late Shri Natwarlal Jivanlal Desai
was considered and after interviewing Shri Jaykishan Harikishan Bohra and
his recommenders S/Shri Mansukhbhai Maneklal and Satyanarayan Khaitan
it was resolved by 11 votes in favour and 1 against to elect Shri
Jayakishan Harikishan Bohra as a member of the Exchange in the place of
the late Shri Natwarlal Jivanlal Desai, subject to the Rules and Regulations
of the Exchange.
15. The application dated 24-8-78 of Shri Balubhai Tribhovandas Parekh
nominating Shri Dilip Manharlal Parekh as a member of the Exchange in his
own place was considered and after interviewing Shri Dilip Manharlal
Parekh and his recommenders S/Shri Augrias Bhogilal Mehta and Hiralal
Chunilal it was resolved by 10 votes in favour and none against to elect
Shri Dilip Manharlal Parekh as a member of the Exchange in the place of
Shri Babubhai Tribhovandas Parekh as a member of the Exchange subject
to the Rules and Regulations of the Exchange.
16. The application dated 22-9-78 of Shri Balubhai Maganlal Choksey
nominating Shri Dilip Kantial Choksey as a member of the Exchange in his
own place was considered and after interviewing Shri Dilip Kantilal Choksey
Page 5 of 7
and his recommenders S/Shri Pankaj Ishwarlal Kapadia and Sumatilal
Jamnalal it was resolved by 12 votes in favour and none against to elect
Shri Dilip Kantialal Choksey as a member of the Exchange in the place of
Shri Balubhai Maganlal Choksey, subject to the Rules and Regulations of
the Exchange and on condition that for two years he should not do
business in the market in his own name and even after that without taking
permission of the Governing Board.
17. The application dated 18-9-78 of Shri Shivdas Thakarsi Kothari nominating
Shri Mohammed Safi Barwadia as a member of the Stock Exchange in his
own place was considered and after interviewing Shri Mohammed Safi
Barwadia and his recommenders S/Shri V.K. Nanavati and Manubhai
Maneklal it was resolved by 9 votes in favour and 3 against to elect Shri
Mohammed Safi Barwadia as a member of the Exchange in the place of
Shri Shivdas Thakarsi Kothari subject to the Rules and Regulations of the
Exchange.
18. The Board considered the undermentioned tenders relating to Air-
conditioning of our new building:
1. Chilling package, cooling tower, Pump-set etc:
Voltas Rs. 54,87,000/-, Blue Star Rs.46,21,000/- Fric India Rs.
44,22,000/-
2. Air-handling Unit, Ducting, Grill, ventilation etc:
Voltas Rs. 50,46,000/-; Blue Star –Rs. 44,91,000/-; Fric India Rs.
53,92,000/-, Musa Haji Patrawala Rs. 41,52,000/-.
3. Chiller Water pipe plumbing etc:
Voltas Rs. 10,29,000/-; Blue Star –Rs. 9,48,000/-; Fric India Rs.
13,85,000/-Nipa Sanitation Rs. 9,99,000/-.
4. Electric Installation:
Voltas Rs.6,89,000/-; Blue Star Rs. 7,25,000/-; Shah Electric Rs.
6,88,000/-.
It was resolved to accept the tenders of Voltas for Chiller package etc.,
Moosa Haji Patrawala for Air-handling unit, ducting etc., Nipa Sanitation – for chiller
water pipe, plumbing, etc., and Shah Electric – for electrical installation.
19. For aluminum windows and curtain galzing of our new building, the Board
considered the tenders of – Godrej and Boyce Manufacturers Co. Pvt.Ltd. of
Rs.50,00,000/-, Backlawel of India Ltd of Rs.50,55,720/-, Jupiter Window
of Rs. 44,07,333/- and Ajit India of Rs.42,23,240/- and resolved that the
tenders submitted by Jupiter window should be accepted.
Page 6 of 7
20. The Board considered the tenders for fire hydrant and sprinkler installation
of our new building received from Firoze Karaka and Co., for Rs.8,25,622/-,
Bamboat & Co. for Rs.9,96,375/-, Nariman Malasara & Co for
Rs.10,63,548/-, Nipa Sanitation – Rs.11,55,710/-, Kuberji Deasi & Co –
Rs.12,44,608/-, Doka Engineering – Rs. 12,51,435/-, Mather & Platt
Rs.12,60,675/- and Vijay Machinery Stores Rs. 13,05,401/- and resolved
that the tender of Firoz Karaka & Co should be accepted.
21. The application of Gujarat Machinery Manufacturers Ltd., for re-enlistment
of its securities on the Exchange was considered and it was resolved to re-
admit its equity in our list of Non-Cleared Securities and Preference Shares
for trading on the Exchange and transaction lots of each kind of these
shares was fixed at 5 shares.
22. The listing applications of the undermentioned companies for enlistment of
their securities on the Exchange were considered and it was unanimously
resolved that subject to the Listing Rules and Regulations as well as
compliance with the usual requirements and such other special
requirements stipulated by us, according to the conditions as may be
deemed proper by the Chairman, their securities should be included in the
list of Non-Cleared Securities and their trading lots should be fixed by the
Chairman:
The Indian Card Clothing Co.Ltd. Equity
U.P. Twagi Fibre Glass Ltd. Equty
Bharat Aluminums and Chemicals Ltd. Equity
Papyrus Papers Ltd. Equity
Gabriel India Ltd. Equity
Andhra Pradesh Carbides ltd. Equity
Industrial & Agricultural Engineering Co(Bombay) Ltd Equity
Raprient Carbides Ltd. Equity
Darjeeling Plantation Industries Ltd. Equity
Hindustan Milk Food Manufacturers Ltd. Equity
Caprihans (India) Ltd. Equity
Hathiwa Vanaspati ltd. Equity
Metal Box Co. of India Ltd. Equity
Metal Box Co. of India Ltd. 7.75% of Debentures
Metal Box Co. of India Ltd. 10.5% Bonds
Bharat Steel Tubes Ltd. 11% Preference shares.
23. It was unanimously resolved that as merger has taken place of A.E.W.
Jenisys with Payer Talbrose Ld., International Tractor Co. of India ltd., with
Page 7 of 7
Mahindra and Mahindra Ltd and T.Maneklal & Co., ltd, with S.M. Maneklal
Industries Ltd; securities of A.E.W. Jenisys Ltd and T. Maneklal
Manufacturing Co.Ltd., should be removed from our list of securities traded
on the Exchange.
24. It was unanimously resolved that as the undermentioned companies have
not yet paid the Annual Listing Fee for the year 1978 though repeatedly
demanded their securities should be removed from our list of securities
traded on the Exchange if they do not pay up the fee before 27-11-78:
1. Associated Pulp and Paper Mills Ltd.
2. Asian Dehydrates Ltd.
3. Asiatic Oxygen Ltd.
4. Century Iron & Steels Ltd.
5. Hemkut Industrial Investment Co. Ltd.
6. Indo-American Electricals Ltd.
7. Ipco Paper Mills Ltd.
8. Jaipur Metals and Electricals Ltd.
9. Kothari Sugars and Chemicals Ltd.
10. Kerala Rubber and Reclams Ltd.
11. Katihar Jute Mills Ltd.
12. Laxmiratan Engineering Works Ltd.
13. Malbar Steamship Co. Ltd.
14. Mrathwada Alloy Steels Co.Ltd.
15. New board Manufacturing C. Ltd.
16. Nalanda Ceramics and Industries Ltd.
17. Standard Motor Products of India Ltd.
18. Trimurti Agro Chemicals ltd.
19. Unicorn Tyres Ltd.
20. Vijaywada Bottling Co. Ltd.
21. Willard India Ltd.
Sd/- Sd/-
A.J. Shah Mathradas Samaldas
Secretary President
Dt.: 19-12-78
Page 1 of 7
Tuesday, 19-12-1978
A meeting of the Governing Board of the Stock Exchange was held today at 3.00 PM
under the Chairmanship of Seth Mathradas Samaldas, wherein the undermentioned
members of the Board were present :
Seth Mathradas Samaldas Seth Vasantlal Jivantlal
Seth Phiroze J Jeejeebhoy Seth Bhupendra Champaklal Devidas
Seth Vasantlal Kantilal Shah Seth J.R Motishaw
Seth Laldas Jamnadas Seth Jayantilal Rangildas Khandwala
Seth Navinchandra Chhaganlal Kampani Seth Jasvantlal Chhotalal
Seth Jayant Amerchand Seth Purshottam Gopiram
Seth Rasiklal Maneklal Seth Chhotalal Devchand Parekh
Government Nominees
Shri M . L Chawla
The following business was transacted in the meeting :
1. The application dated 10-11-78 of the society for vocational Rehabilitation of
the retarded was considered and it was resolved to give a donation of
Rs.101/- to it.
2. The letter dated 20-11-78 of Smt Pushpaben Kantilal Joshi was considered
and it was resolved that the Provident Fund amount of Rs. 36,130.40 and
the gratuity of Rs. 19,187.50 due to the Late Shri Kantilal J Joshi should be
paid to Smt Puspaben Kantilal Joshi.
3. The letter dated 14-12-78 of Mr. Hamal Sambhaji Ganpat was considered and
it was resolved to permit him to retire from 1-1-79 and pay to him his
accumulated Provident Fund amount of Rs. 14,924.30 and Gratuity of Rs.
11,125/-.
Page 2 of 7
4. The application of our office clerks S/Shri T G Babu and K. Ambujakshau
dated 30-11-78 and 13-12-78 respectively for giving them assistance of the
medical treatment expenses incurred during their sickness were considered
and it was resolved to give each of them help of Rs.81/- from Seth K R P
Shroff Stock Exchange Sarvajanik Fund.
5. The application for locks of undermentioned staff were considered and it was
resolved to give them loans as mentioned against their names below:
a. Shri Nariman N Dubash Rs. 4,500/-
b. Shri Vijay Narayan Rs. 2,000/-
c. Shri V T Manjrekar Rs. 4,000/-
d. Shri Raghunath Krishnaji Rs. 4,000/-
e. Shri Balkrishna Yashwant Rs. 1,500/-
f. Sweeper Chhangaram Gangaram Rs. 2,500/-
6. The letter dated 13-11-78 of S/Shri Manharlal B Parekh and Dilip Manharlal
Parekh was considered and it was resolved to give them permission to
continue the business of M/s Balubhai T Parekh for one month.
7. The applications for undermentioned partnerships were considered and they
were approved :
Name of the Partnership Firm Names of Partners Date of Partnership
M/s Maganlal T Vora Shri Maganlal Tribhovandas Vora 1-11-78
Shri Harendra Maganlal Vora
M/s Balubhai Tribhovandas Shri Manharlal Balubhai Parekh 13-11-78
Parekh Shri Dilip Manharlal Parekh
Shri Mukesh Manharlal Parekh
Page 3 of 7
8. The letter of the undermentioned members were read and it was resolved to
approve the permission given for doing business as Representative Members
as mentioned below :
Nominating Member Representative Member
Shri Satyanarayan Mangilal Khaitan Shri Jaikishan Harikishan Bohra
Shri N M Parikh Shri Dilip Kantilal Choksey
9. The letter dated 8-12-78 of Shri Jeram Thakarsi Halai for settling his
expulsion and allowing him to do business as he had made settlement with
his creditors as well as the letter dated 12-11-78 of his Solicitors M/s Nalin
Shah & Co about the same were considered and it was resolved that their
request cannot be acceded to. Besides their attention should be drawn to the
Board’s resolution dated 10-9-78 about which they were informed on the
same date by letter.
10. The letter dated 21-12-78 of Shri Jeram Thakarsi Halai for filling his
application in the Board in connection with the amount of about Rs. 550/- on
account of difference in rates of 100 Dunlop Shares against M/s Jamnadas
Virji and Sons and the amount of Rs. 62.50 on account of call on 25 Agro
Farm Shares against Shri Pankaj I. Kapadia was considered and it was
resolved to inform him in writing that his request cannot be acceded to under
the Stock Exchange Rules and Regulations.
11. Holidays of our Association for the year 1979 were fixed.
12. The application dated 12-10-78 of the near relatives of the late Shri Kantilal
Kakalbhai Dasadia nominating Shri Gandhi Ramanlal Manilal as a member of
the Exchange in the place of the late Shri Kantilal Kakalbhai Dasadia was
considered and after interviewing Shri Gandhi Ramanlal Manilal and his
recommenders S/Shri Dhanesh T Gandhi and Manubhai Maneklal it was
resolved by 13 votes in favour and none against to elect Shri Gandhi
Ramanlal Manilal as a member of the Exchange in the place of the late Shri
Kantilal Kakalbhai subject to the Rules and Regulations of the Exchange.
Page 4 of 7
13. The application dated 12-10-78 of Shri Pravin Mangaldas Choksey nominating
Shri Nalin Pravin Choksey as a member of the Exchange in his own place was
considered and after interviewing Shri Nalin Pravin Choksey and his
recommenders S/Shri Champaklal Babubhai Marfatia and J. M Dalal , it was
resolved by 13 votes and none against to elect Shri Nalin Pravin Choksey as a
member of the Exchange in the place of Shri Pravin Mangaldas Choksey,
subject to the Rules and Regulations of the Exchange on condition that he
should not do business in the market in his own name for a period of two
years and even thereafter he should not do business in his own name without
obtaining the permission of the Governing Board.
14. The application dated 24-10-78 of Shri Minoo Navroji Gandhi nominating Shri
Vinay Chauhan Maganlal Shah as a member of the Exchange in his own place
was considered and after interviewing Shri Vinay Chandra Maganlal Shah and
his recommenders S/Shri Hiralal Chunilal and Priyakant N Dalal it was
resolved by 13 votes in favour and none against to elect Shri Vinay Chandra
Maganlal Shah as a member of the Exchange in the place of Shri Minoo
Navroji Gandhi, subject to the Rules and Regulations of the Exchange on
condition that he should not do business in the market in his own name for
two years.
15. The application dated 17-10-78 of Shri Ishwarlal Chunilal Parekh nominating
Shri Jagdishchandra Laxmidas Shah as a member of the Exchange in his own
place was considered and after interviewing Shri Jagdishchandra Laxmidas
Shah and his recommenders S/Shri Babubhai Fulchand Jhavei and Dhavesh T
Gandhi it was resolved by 13 votes in favour and none against to elect Shri
Jagdishchandra Laxmidas Shah as a member of the Exchange in the place of
Shri Ishwarlal Chunilal Parekh, subject to the Rules and Regulations of the
Exchange.
16. The applications dated 6-11-78 of the near relatives of the late Shri B.V.
Advani nominating Shri Niranjan Ranchhoddas Shah as a member of the
Exchange in the place of the late Shri B V Advani was considered and after
interviewing Shri Niranjan Ranchhoddas Shah and his recommenders S/Shri
Page 5 of 7
Hasmukh Nanalal Jhaveri and Manubhai Maneklal it was resolved by 13 votes
in favour and none against to elect Shri Niranjan Ranchhoddas Shah as a
member of the Exchange in the place of the late Shri B V Advani , subject to
the Rules and Regulations of the Exchange.
17. The application dated 22-11-78 of the near relatives of the late Shri
Manmohandas Kashavdas, nominating Shri Tribhovandas Keshavdas as a
member of the Exchange in the place of late Shri Manmohandas Keshavdas
was considered and after interviewing Shri Tribhovandas Keshavdas and his
recommenders S/Shri Manharlal Laxmidas and Nagindas Pranjivandas, it was
resolved by 13 votes in favour and none against to elect Shri Tribhovandas
Keshavdas as a member of the Exchange in the place of the late Shri
Manmohandas Keshavdas, subject to the Rules and Regulations of the
Exchange.
18. The application dated 1-12-78 of Shri Shantichand Nanubhai Jhaveri
nominating Shri Rajnikant Nanubhai Jhaveri as a member of the Exchange in
his own place was considered and after interviewing Shri Rajnikant
Shantichand Jhaveri and his recommenders S/Shri A. R. Jhaveri and Rasiklal
Manilal Shah it was resolved by 13 votes in favour and none against to elect
Shri Rajnikant Shantichand Jhaveri as a member of the Exchange in the place
of Shri Shantichand Nanubhai Jhaveri, subject to the Rules and Regulations of
the Exchange.
19. Resolved that Ceramic Kent Tiles should be fitted on the outside of our new
building and Mosaic Tiles should be used for the flooring and the necessary
arrangements should be made for that work.
20. Resolved that after deducting the current year’s expenses from the current
year’s income of the Stock Exchange Education and Research Services, the
estimated remaining excess amount should be donated to Nehru Centre which
has been approved under Section No 35 (1) (2) of the Income Tax Act for
Scientific Research. And if possible, approximately the same amount should
be donated to it next year also.
Page 6 of 7
21. The letter dated 7-12-78 of Willard India Ltd was read and it was unanimously
resolved that as the company has paid up the Annual Listing Fee for the year
1978, its Equity and Preference Shares should be again admitted to our Non
Cleared Securities List and transactions in those Shares should be done lots of
50 shares and 5 shares respectively.
22. The Listing applications of the undermentioned companies were considered
and it was resolved that subject to the Listing Rules and Regulations as well
as compliance with the usual requirements and such other special
requirements stipulated by us, according to the conditions as may be deemed
proper by the Chairman, their securities should be included in the list of Non
Cleared Securities and their trading lots should be fixed by the chairman.
Parekh Distributors Ltd Equity
Hindustan Development Corporation Ltd Equity
Molins of India Ltd Equity
Colgate Palmolive (India) Ltd Equity
Reliance Chemotax Industries Ltd Equity
Lipton Tea (India) Ltd Equity
Tirupati Woollen Mills Ltd Equity
Usha Oil Udayog Ltd Equity
Mangalam Cement Ltd Equity
23. The letters dated 1-12-78 and 2-12-78 respectively of the Southern Borax Ltd
and Bharat Nidhi Ltd were considered and it was unanimously resolved to
remove their securities from our list of securities traded on the Exchange as
the companies do not wish to continue listing.
24. The letter dated 16-12-78 of the Thane Electric Supply Co Ltd was read and it
was unanimously resolved that its ‘A’ and ‘C’ class Debentures should be
removed from our list of Securities traded on the Exchange as the said
Debentures have been redeemed.
Page 7 of 7
25. The letter dated 4-11-78 of Shree Gopal Industries was read and it was
unanimously resolved to remove its shares from our list of securities traded
on the Exchange as the Company has been merged with Maharaja Shree
Umaid Mills Ltd.
26. Resolved that Rs. 1,30,000/- should be donated to the Stock Exchange
Foundation for Social Science Research
Sd/- Sd/-
A J Shah Mathradas Samaldas
Secretary President
Dt 18-1-79
Page 1 of 7
Thursday, 18-1-79
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00
p.m. under the Chairmanship of Seth Mathradas Samaldas wherein the under
mentioned members of the Board were present:
Seth Mathradas Samaldas Seth Vasantlal Jivatlal
Seth Phiroze J. Jeejeebhoy Seth Bhupendra Champaklal Devidas
Seth Jasvantlal Chhotalal Seth J. R. Motishaw
Seth Vasantlal Kantilal Shah Seth Ashok kumar Girdharilal Fozdar
Seth Laldas Jamnadas Seth Jayantilal Rangildas Khandwala
Seth Navinchandra Chhaganlal Kampani Seth Purshottam Gopiram Ruiya
Seth Jayant Amerchand Seth Chhotalal Devchand Parikh
Shri L. R. Manjal of Government of India, Ministry of Finance, Stock Exchange
Division, was present by invitation
The following business was transacted in the meeting:
1 The application dated 4-1-79 of the Bombay Deaf and Dumb Institution was
considered and it was resolved to give it a donation of Rs. 101/-.
2 The application dated 16-1-79 of our typist Shri B. L. Desai for giving his
assistance towards the expenses of Rs. 879/30 incurred by in connection with
the operator of Harnia was considered and it was resolved to give him
assistance of Rs. 875/- in that respect from Seth K.R.P. Stock Exchange
Saruvajanik Fund.
3 The application of our liftman Sitaram Vitthal to give him assistance towards
the expenses of Rs. 601/45 incurred by him for treatment of arthritis of joints
was considered and it was resolved to give him, assistance of Rs. 600/- in that
respect from K.R.P. Shroff Stock Exchange Sarvajanik Fund.
4 Due to the demise of Shri Chinubhai C. Dalal on 13-12-78 his partnership in
the firm of M/s. Chimanlal J. Dalal & Co. has ceased from that date, as
informed by the letter date 19-12-78 of the remaining partners of the firm.
The Board perused the said letter and noted it.
Page 2 of 7
5 Due to the demise of Shri Chandrakant Jagabhai has partnership in the firm
M/s. Amratlal Mohanlal has ceased, from 22-12-78 as informed by the letter
dated 4-1-79 of the remaining partners which was noted by the Board.
6 The letter dated 24-12-78 of S/Shri Indravadan Ranchhoddas Shah, Narayan
Ranchhoddas Shah and Dhanvant Indravadan Shah was considered and it was
resolved that their partnership under the firm of M/s. Ranchhoddas
Sheshkaram should be approved with the effect from 1-1-1979.
7 The letter dated 13-12-78 of S/Shri V. K. Nanavati and M. S. Barwadia were
read and it was resolved that the permission given to Shri S. M. Barwadia to
do business as a Representative Member of Shri V. K. Nanavati should be
approved.
8 The application dated 23-12-1978 of the near relatives of the late Shri
Satyanarayan Bhuramal nominating Shri Akheraj Narayandas Nangal as a
member of the Exchange in the place of the late Shri Satyanarayan Bhuramal
was considered and after interviewing Shri Akheraj Narayandas Nangal and his
recommenders S/Shri B. R. Dharnidharka and P. R. Shah it was resolved by 13
votes in favour and none against to elect Shri Akheraj Narayandas Nangal as a
member of the Exchange in the place of the late Shri Satyanarayan Bhuramal,
subject to the Rules and Regulation of the Exchange.
9 The Board considered the tenders for the Fire Alarm System of our new
building of M/s. Kunerji Deusl – F-7 Detectors - Rs. 8,82,075/-, F-5 Detectors
- Rs. 9,01,625/- and of Nitin Detectors – Rs. 7,37,110/- , Mother and Plant F-
7 Detectors – Rs. 8,04,150/-, and Niru Detectors – Rs. 8,27,950/-, Southern
Electronics Rs. Rs. 8,72,400/- and of Vijay Machinery Co. – Rs. 7,47,900/- and
resolved to accept the tender of Rs. 7,37,11/-.
10 RESOLVED THAT pursuant to the resolution passed at the general meeting of
the members of The Stock Exchange held on 18th of November, 1978, the
Exchange do borrow a sum of Rs. 2,45,00,000/-(Rs. Two Crores Forty Five
Lakhs only) for purpose of development and construction of the Stock
Exchange new building at the junction of Dalal Street, Apollo Street and
Hamam Street and do create a mortgage favour of Bank of Baroda
(hereinafter referred to as ‘the bank’) on all the immovable properties of the
Exchange situate at the junction of Dalal Street, Apllo Street and Hamam
Page 3 of 7
Street together with the existing building, the building under construction and
building to be hereafter constructed to secure the aforesaid loan of Rs.
2,45,00,000/- (Two Crores Forty Five Lakhs Only) and interest theron art the
rate of 14% p.a. and all other moneys payable in respect thereof ranking pari
passu with the mortgage created or to be crated in favour of other parties
SUBJECT HOWEVER TO.
(i) the prior charge in respect of the 8% Debenture Stock, 1981-86,
created and issued by the Exchange for the principal sum of Rs.
2 Crores, the term and condition of issue of which Debenture
Stock are set forth in the trust deed dated the 16th day of June,
1972, together with interest and all other money payable as well
as any renewal with or without modification in respect thereof
and subsequent charge in favour of Central Bank of India and/or
other parties securing a sum not exceeding Rs. 75 lakhs in the
aggregate advanced by them to the Exchange together with
interest and all other moneys payable in respect thereof;
(ii) the proviso that the amount advanced by Central Bank of India
and / or other parties as aforesaid and outstanding at any given
time together with the amount secured under mortgage as
aforesaid for the benefit of the Bank and under mortgage of
mortgages in favour of other lenders at any given time shall not
exceed Rs. 5 Crores in the aggregate; and
(iii) the right of of the Exchange to demolish the temporary
structures and the Applo Street building and the right to lease
premises in the said new building under construction for a period
upto 20 years.
FURTHER RESOLVED THAT the Exchange do execute an Unattested loan
Agreement with the Bank in respect of the said sum of Rs. 2,45,00,000/-
(Rupees Two Crores forty Five Lakhs only) on condition that same be repaid by
the Exchange within a period of 10 years by fixed equal quarterly instalments
of principal and interest @ 14% p.a. on the average of the reducing balance of
the principal amount, the the fixed equal quarterly installment for on advance
of Rs. 1,00,000/- (Rupees One Lakh only) being Rs. 4,264/70 ( Rupees Four
Page 4 of 7
thousand two hundred sixty four paise seventy only) i.e. Rs. 2,500/- towards
principal nad Rs. 1,764/70 towards interest.
FURTHER RESOLVES THAT the Exchange along with the trustees of the Stock
Exchange to execute in favour of the Bank an irrevocable Power of Attorney
authorizing the Bank to create such mortgage on behalf of the Exchange and
the Stock Exchange Trustees and also to do and execute such other deeds
documents and writing as the Bank may requires from time to time.
FURTHER RESOLVED THAT the said Unattested loan agreement and the said
irrevocable Power of Attorney (the draft of which are placed before this
meeting of the Governing Board and initialed by the President for
Identification) and all other necessary documents required for the purposes
aforesaid be signed on behalf of the Stock Exchange by Shri Mathradas
Samaldas, the President, of the Stock Exchange and of its Governing Board,
and Shri Jivanchand Ratanchand Motishaw, Shri Rasiklal Maneklal, Shri
Dhirajlal Maganlal and Shri Jayant Amerchand, the Trustees of the Exchange.
LASTLY RESOLVED THAT for the purpose aforesaid the Trustees of the
Exchange be requested to do all such acts, deeds, matters and things and
execute such deeds, documents, agreements and writing as maybe necessary
in that behalf.
11 RESOLVED THAT pursuant to the resolution passed at the General Meeting of
the Members of the Stock Exchange held on the 18th of November, 1978, the
Exchange do give on lease to Bank of Baroda (hereinafter referred to as ‘the
Bank’) the herein below mentioned in the Stock Exchange new building now
under construction namely; (a) portion of the ground floor (East) abutting on
Dalal Street together with the mezzanine floor admeasuring 650sq. meters
(i.e. 7,000 sq. ft.) of thereabouts together with a contiguous portion
admeasuring 465 sq. meters (i.e. 5,000 sq. ft.)or thereabouts as and when the
same is ready in lieu whereof and till it is ready would be substituted a porting
of the first floor (east) abutting on Dalal Street admeasuring 465 sq. meters
(i.e. 5,000 sq. ft. ) or thereabouts: (b) First to sixth floors above the
intermediate services floor in the tower block each admeasuring 790 sq.
meters (i.e. 8,500 sq. ft. or thereabouts with option to Exchange and if the
Bank so desires, to substitute in lieu of the said sixth floor a portion of the
ground floor abutting on Hamam Street together with the mezzanine floor
Page 5 of 7
admeasuring 650 to 750 sq. meters (ie. 7,000 to 8,000 sq. ft.) or thereabouts
as and when the same is ready: (c.) safe deposit vault in the first basement
(east) asmeasuring 93 sq. meters (i.e. 1,000 sq.ft.) or thereabouts for a term
of ten years certain with option to the Bank to renew the lease for a further
term of five years at the monthly rent of Rs. 3.25, Rs. 2.20 and Rs. 1.80 per
0.0929 sq. meter (i.e. per sq. ft.) for (a) above, for the tower floors at (b)
above and for (c.) above respectively and on the term and conditions set out in
the Agreement for lease with the Draft Deed of Lease annexed thereto.
FURTHER RESOLVED THAT the said Agreement for lease with the Draft Deed of
lease annexed thereto (the draft of which is placed before this meeting of the
Governing Board and initialed by the President for identification) and all other
necessary documents required for the purposes aforesaid be signed on behalf
of the Stock Exchange by Shri Mathradas Samaldas, the President of the
Exchange and of its Governing Board, and by shri Jivanchand Ratanchand
Motishaw, Shri Rasiklal Maneklal, Shri Dhirajlal Maganlal and Shri Jayant
Amerchand, the Trustees of the Exchange.
LASTLY RESOLVED THAT for the purposes aforesaid the Trustees of the
Exchange be requested to do all such acts, deeds, matters and things and
execute such deeds, documents, agreements and writing as may be necessary
in that behalf.
12 RESOLVED THAT pursuant to the resolution passed at the general meeting of
the members of The Stock Exchange held on the 18th of November, 1978, the
Exchange do provide and / or supply and / or cause to be provide and / or
supplied to Bank of Baroda (hereafter referred to us ‘the Bank’) amenities,
services and facilities in respect of the premises in the Stock Exchange new
building now under construction agreed to be taken on lease by the Bank for
the period co-extensive and co-terminus with the period of the lease or any
renewal thereof at the following rates respectively for the ground (including
mezzanine) and first floors, for the towers floors and for safe deposit vault in
the first basement, namely, (a)Rs. 2.10, Re. 1.75, and Re. 1.75 per 0.0929 sq.
meter (i.e. per sq. ft.) for air-conditioning service, (b) Rs. 2.20, Rs. 2.20 and
Re. 1.80 per 0.929 sq. meter (i.e. per sq. ft.) for other special amenities and
services , and (c.) Re. 1.50, Re. 1.50 and Re. 0.70 per 0.929 sq. meter (i.e.
per sq. ft.) for other services and facilities on the terms and conditions set out
Page 6 of 7
in the Agreement for Over-all Special Amenities, Services and Facilities and the
Draft Deed annexed thereto.
FURTHER RESOLVE THAT the said agreement for Over-all Special Amenities,
Services and Facilities together with Draft Deed annexed thereto (the Draft of
which is placed before this meeting of the Governing Board and initialed by the
President for identification) and all other necessary documents required for the
perpose aforesaid be signed on behalf of the Stock Exchange by Shri
Mathradas Samaldas, the President of the Exchange, and of its Governing
Board and by Shrii Jivanchand Ratanlal Morishaw, Shri Rasiklal Maneklal, Shri
Dhirajlal Maganlal and Shri Jayant Amerchand the Trustees of the Exchange.
LASTLY RESOLVED THAT for the purposes aforesaid the Trustees of the
Exchange be requested to do all acts, deeds, matters and things and execute
such deeds, documents, agreements and writing as may be necessary in that
behalf.
13 Resolved that Shri Mathradas Samaldas, the President of the Exchange and of
its Governing Board, do sign on behalf of the Stock Exchange and its
Governing Board along with Shri Jivchand Ratanchand Motishaw, Shri Rasiklal
Maneklal, Shri Dhirajlal Maganlal, and Shri Jayant Amerchand, the Trustees of
the Exchange, who may be requested to do so, a letter addressed to Bank of
Baroda recording certain terms in respect of the loan Agreement for lease and
Agreement for Over-all Special Amenities, Services and Facilities with the Bank
as per letter the draft of which is placed before this meeting of the Governing
Board and initialed by the President for identification.
14 RESOLED THAT a Current Account be opened with Bank of Baroda, Fort,
Bombay in the name of the Stock Exchange, Bombay, and that the said
Account be operated jointly by the President, Shri Mathradas Samaldas, or the
Chairman Shri P. J. Jeejeebhoy, or the Vice-President, Shri Vasantlal
Champaklal, or the Hon. Treasurer, Shri Navinchandra Chhaganlal Kampani
and by any one of the following six Members of the Governing Board, namely
Shri J. R. Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand, Shri
Vasantlal Kantilal Shah, Shri Jasvant Chhotalal, and Shri. A.R. Mahadevia and
be countersigned by the Secretary, Shri A. J. Shah, and in his absence by Shri
S. N. Karaka or Shri. M. D. Vyas.
Page 7 of 7
15 The appeal of M/s. Keshavdas Pranjivandas against the awards of the Full
Bench of the Arbitrator Committee in their dispute with M/s. Jamnadas Virjee &
Sons regarding 3,300 Bishnath Tea Shares was heard. After hearing both the
parties it was resolved to uphold the award of the Full Bench of the Arbitration
Committee.
16 The Listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations, as well as compliance with the usual requirement and such other
special requirement stipulated by us and the conditions as may be deemed
proper by the Chairman, their under mentioned securities should be included
in our list of cleared securities and their trading lots should be fixed by the
Chairman
Transpack Industries Ltd. Equity
Assam Co. (India) Ltd. Equity
Naran Tea Co. (India) Ltd. Equity
The Atlas Cycle Industries Ltd. Equity
Sehgal Papers Ltd. Equity
Ashok Leyland Ltd. Equity
Economic Development Corporation of Goa, Daman
and Diu Ltd.
6¼% Bonds
(1989)
Sd/- Sd/-
A. J. Shah Mathradas Samaldas
Secretary President
Date: 20-2-79
Page 1 of 5
Tuesday, 20-2-79
A meeting of the Governing Board of the Stock Exchange was held today at S.T.
3.00 PM under the Chairmanship of Seth Mathradas Samaldas, wherein the
undermentioned members of the Board were present :
Seth Mathradas Samaldas Seth Vasantlal Jivantlal
Seth Phiroze J Jeejeebhoy Seth Bhupendra Champaklal Devidas
Seth Jasvantlal Chhotalal Seth J.R Motishaw
Seth Vasantlal Kantilal Shah Seth Ashokkumar Girdharlal Fozdar
Seth Navinchandra Chhaganlal Kampani Seth Jayantilal Rangildas Khandwala
Seth Jayant Amerchand Seth Purshottam Gopiram Ruia
Seth Rasiklal Maneklal Seth Chhotalal Devchand Parekh
Government Nominees
Shri J.G.Gogte
The following business was transacted in the meeting :
1. The application of Badipara Harijan Yuval Mandal dated 14-2-79 was
considered and it was resolved to donate Rs. 101/- to it.
2. The application dated 14-2-79 of Smt. Pushpaben Kantilal Joshi was
considered and it was resolved to give her assistance of Rs.700/- from Seth
K.R.P. Shroff Stock Exchange Sarvajanik Fund.
3. The application dated 17-2-79 of our sepoy Mahadev Ramchandra was
considered and it was resolved to give him assistance of Rs.123.60 from Seth
K.R.P. Shroff Stock Exchange Sarvajanik Fund for medical expenses incurred
by him during his sickness.
Page 2 of 5
4. The applications for loans was considered of our undermentioned office staff
were considered and it was resolved to give them loans as shown below
against their respective names:
Shri M.K. Shivraman Rs. 6,000/-
Shri J.K. Quadros Rs. 3,000/-
Sepoy Govind M. Khatale Rs. 5,000/-
Liftman Tukaram Laxman Rs. 600/-
Sweeper Bhagwan Tiloo Rs. 5,000/-
5. The letter dated 18-1-79 of Shri Tribhovandas Keshavdas for giving him one
month’s more time for complying with the conditions for admission to
membership of the Exchange was considered and it was resolved to give him
one month’s more time for that.
6. The applications for undermentioned partnerships were considered and the
partnerships were approved :
Name of the Partnership Firm Names of Partners Date of Partnership
M/s M.K. Choksey & Co. Shri Ramesh Dhirajlal Choksey 25-1-70
Shri Kisan Ratilal Choksey
Shri Ashok Ratilal Choksey
Shri Ramesh Ratilal Choksey
Shri Nalin Pravin Choksey
M/s Keshavlal Pranjivandas Shri Tribhuvandas Keshavdas 2-2-70
Shri Deven Tribhuvandas
Shri Pradip Manmohandas
7. The letters of the undermentioned members were read and it was resolved to
approve the permission given for working as Representative Members as
shown below :
Nominating Member Representative Member
M/s Vadilal Rajpal Mehta Shri Devidas Jamnadas
Shri Basudev Rameshwarlal Dharnidharka Shri Akheraj Narayandas Nangal
Page 3 of 5
8. The letter dated 14-2-79 of M/s Hiralal Liladher was considered and it was
resolved to give them work as official brokers and underwriters on condition
that their total underwriting liability for one or more than one issues at any
point of time should not be more than Rs. 50,000/-.
9. As regards the application dated 8-1-79 of the near relatives of the late Shri
Shrilal Podar nominating Shri Madanlal Banwarilal Jhaveri in the palce of the
late Shri Shrilal Podar their letter dated 19-2- 79 withdrawing the aforesaid
application was read and taken note of.
10. The application dated 18-1-79 of Shri Chunilal Keshavji nominating Shri
Bansilal Balubhai Shah as a member of the Exchange in his place was
considered and after interviewing Shri Bansilal Balubhai Shah and his
recommenders S/Shri Jitendra Champaklal and S.J. Palejwalal it was resolved
by 6 votes in favour and 7 votes against that he cannot be admitted as a
member of the Exchange.
11. The application dated 13-1-79 of the near relative of the late Shri
Chandrakant Jugalbhai Sheth nominating Shri Sumanchandra Jugalbhai Sheth
as a member of the Exchange in the place of the late Shri Chandrakant
Jugalbhai Shah was considered and after interviewing Shri Sumanchandra
Jugalbhai Sheth and his recommenders S/Shri Chimanlal Amratlal and
Rajnikant C. Sheth it was resolved by 13 votes in favour and none against to
elect Shri Sumanchandra Jugalbhai Sheth as a member of the Exchange in
the place of the late Shri Chandrakant Jugalbhai Sheth, subject to the Rules
and Regulations of the Exchange.
12. Resolved that Friday, 23-7-79 should be fixed as the day for election of the
Governing Board for the year 1979-80.
13. The Board took noted of the agreements with the Bank of Baroda, with which
our Trustees have also been parties for loan, lease and services in respect of
the space in our new building under construction and resolved that
Page 4 of 5
agreements on the same lines should again be made with the General
Insurance Corporation of India.
14. Resolved that note has been taken of the letter dated 10-8-78 of the Trustees
of our Debenture Stock giving their consent to the arrangements regarding
giving to the Bank of Baroda space in our new building under construction and
the Bank giving loan to the Stock Exchange.
15. The letter dated 3-2-79 of M/s B.E. Bilimoria & Co., to their contract for civil
work in our new building was considered and it was resolved to permit them
to give up the contract as the contracted work was getting diminished
because of using mosaic tiles instead of kota stones for flooring, etc.
16. The letter dated 16-1-79 of Suessen Textile Bearings Ltd., was considered
and it was resolved to change the trading lot of its equity shares and make it
of 25 shares.
17. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations as well as compliance with the usual requirements, other special
requirements stipulated by us and the conditions deemed proper by the
Chairman, their undermentioned securities should be included in our list of
Non-Cleared Securities and their trading lots should be fixed by the
Chairman:
Solid State Devices India Ltd. Equity shares
Elora Paper Mills Ltd. Equity shares
S.B. Properties and Enterprises Ltd. Equity shares
Rang Kala Investments Ltd. Equity shares
Shree Rani Sati Investment and
Finance Ltd.
Equity shares
Spains Worth Balance Ltd. Equity shares and Preference shares.
18. The letters of the undermentioned companies were read and it was
unanimously resolved that their securities should be removed from our list of
Page 5 of 5
securities traded on the Exchange as they do not want to continue their
listing:
South India Sugars Ltd.
Madhya Pradesh Alidyogie Vikas Nigam Ltd.
19. The letter dated 31-1-79 of Gujarat Tractor Corporation Ltd., was read and it
was unanimously resolved to remove the shares of Hindustan Tractors Ltd.,
from the list of securities traded on the Exchanges as that company has been
merged with the Gujarat Tractor Corporation Ltd.
20. Unanimously resolved that the undermentioned securities should be removed
from the list of securities traded on the Exchange as they have been
redeemend:
Aryodaya Mills Ltd. Preference Shares
Padamji Pulp & Paper Mills Ltd. 9.5% of preference shares
Sd/- Sd/-
A J Shah J.R. Motishaw
Secretary President
Dt:
Page 1 of 10
Tuesday, 8-5-79
A meeting of the Governing Board of the Stock Exchange was held today at Stock
Exchange 3.00 PM under the Chairmanship of Seth J.R. Motishaw in the beginning
and subsequently under the Chairmanship of Shri Mathradas Samaldas wherein the
undermentioned members of the Board were present :
Seth Mathradas Samaldas Seth Vasantlal Jivantlal
Seth Phiroze J Jeejeebhoy Seth J.R Motishaw
Seth Vasantlal Champaklal Seth A. R.Mahadevia
Seth Jasvantlal Chhotalal Seth Ashokkumar Girdharlal Fozdar
Seth Vasantlal Kantilal Shah Seth Jayantilal Rangildas Khandwala
Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya
Seth Rasiklal Maneklal Seth Chhotalal Devchand Parekh
Government Nominees
Shri M.R. Mayya
Shri M.L. Chawla
Shri J.G.Gogte
The following business was transacted in the meeting :
1. Proposed by Seth Jayant Amerchand and supported by Seth Purshottam
Gopiram Ruiya, Shri J. R. Motishaw was unanimously elected as the Chairman
of today’s meeting.
2. Proposed by Seth J.R. Motishaw and supported by Seth Jayant Amerchand it
was unanimously resolved to elect Seth Mathradas Samaldas as the
President.
Seth J.R. Motishaw handed over the Chairman’s seat to Seth Mathradas
Samaldas.
Seth Mathradas Samaldas thanked for the trust reposed in him by all the
members of the Governing Board and while expressing his sense of gratitude
Page 2 of 10
for the support and co-operation given to him last year by all the members of
the Governing Board and Government nominees expressed hope that they
would continue to give their support and co-operation likewise during the
current year also.
3. Proposed by Seth Rasiklal Maneklal and supported by Seth Jayant Amerchand
it was unanimously resolved to elect Shri Vasantlal Champaklal as the Vice-
President.
4. Proposed by Seth A.R. Mahadevia and supported by Seth Vasantlal Kantilal it
was unanimously resolved to elect Seth Navinchandra Chhaganlal Kampani as
the Hon. Treasurer.
5. Resolved that the undermentioned persons be nominated as members of the
Arbitration Committee for the year 1979-80:
Shri Keki N. Chinoy Shri V.K. Nanavati
Shri Jayantilal M. Dalal Shri Jayendra D. Mehta
Shri Champaklal Balubhai Marfatia Shri Rasiklal S. Jhaveri
Shri D.V. Shukla Shri Govindbhai B. Desai
Shri Hariam Dwarkadas Shri Jitendra Champaklal Mashruwala
Shri Bhagubhai Amthalal Gandhi Shri Ramdas Lallubhai
Shri S.M. Shah Shri Shirish Chimanlal Dave
Shri Nagindas Trambaklal Parekh Shri Kirtilal K. Shah
6. Resolved that the undermentioned persons should be nominated as members
of the Defaulter Committee for the year 1979-80:
Shri Jayant Amerchand Shri Jayantilal Mansukhlal Dalal
Shri Vasantlal Kantilal Shah Shri Rasiklal S. Jhaveri
Shri Jasvantlal Chhotalal Shri Nagindas Trambaklal Parekh
Page 3 of 10
7. Resolved that Sir Shapoorji Broadia Brokers’ Helping Fund Committee should
be constituted of S/Shri J.R. Motishaw, Mathradas Samaldas, Vasantlal
Champaklal and Dhirajlal Maganlal.
8. Resolved that the Building Committee should be nominated consisting of
S/Shri Mathradas Samaldas, Vasantlal Champaklal Mashruwala, J.R.
Motishaw, Jayant Amerchand, Rasiklal Maneklal, Vasantlal Kantilal Shah and
Jasvantlal Chhotalal.
9. “Resolved that cheques be signed by the President, Shri Mathradas Samaldas,
or the Chairman, Shri P.J. Jeejeebhoy, or the Vice-President, Shri Vasantlal
Champaklal, or the Hon. Treasurer, Shri Navinchandra Chhaganlal Kampani
and any one of the following Six Members of the Governing Board namely,
Shri J.R.Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand, Shri
Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A.R.Mahadevia,
and be countersigned by the Secretary Shri A.J.Shah, and in his absence by
Shri S.N.Karaka or Shri M.D.Vyas.”
10. “Resolved that the various Accounts and Safe custody Accounts of the
Exchange with Bank of India be operated on jointly by the President, Shri
Mathradas Samaldas, or the Chairman, Shri P.J. Jeejeebhoy or the Vice-
President, Shri Vasantlal Champaklal, or the Hon. Treasurer, Shri
Navinchandra Chhaganlal Kampani and by any one of the following six
members of the Governing Board, namely, Shri J.R.Motishaw, Shri Rasiklal
Maneklal, Shri Jasvantlal Chhotalal and Shri A.R.Mahadevia and be and
countersigned by the Secretary,Shri A. J. Shah and in his absence by Shri
S.N.Karaka or Shri M.D.Vyas.”
11. “Resolved that the Current Accounts and the safe Custody Accounts with Bank
of India in the name of the Stock Exchange staff Provident Fund and the
Stock Exchange Staff Gratuity Fund be operated on either by any two of the
Trustees of the Exchange for the time being or the survivors or survivor of
them or jointly by the Hon. Treasurer, Shri Navinchandra Chhaganlal
Kampani, and any one of the following six members of the Governing Board,
Page 4 of 10
namely, Shri J.R.Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand,
Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A.R.Mahadevia
and be countersigned by the Secretary, Shri A.J.Shah and in his absence by
Shri S.N.Karaka or Shri M.D.Vyas.”
12. The President referred to the Board Resolution dated 24th October, 1978 and
reported that Bank of India(hereinafter referred to as “the Bank”) had at the
request of the Stock Exchange agreed to continue to grant to the Stock
Exchange demand loan facilities upto a limit of Rs. 10,50,000/- on terms,
Limit: Rs. 10,50,000/-
Term: Demand – without prejudice to the demand
nature of the loan, it is to be repaid by
annual instalments of Rs. 3.50 lakhs each
commencing from 26.7.1977.
Rate of Interest: 6% over Bank Rate Minimum 15% per
annum with quarterly rests.
Security: 1. Demand Promissory Notes by the Stock
Exchange, Bombay, in favour of the
Bank;
2. Continuing Security Agreement;
3. Letter of Lien and Set-off;
4. Agreement of hypothecation in respect
of the Electronic Computer and other
accessories thereof along with a
supplement deed of hypothecation;
5. Letter of Confirmation form L.444 C
dated 27.10.1978.
Margin: 15%
The President requested the Governing Board to pass the necessary
resolution for continuance of the loan facility, to confirm the debit balance in the
account, the documents executed and the security created in favour of the Bank in
terms of the Form L. 444 C sent by the Bank.
Page 5 of 10
IT WAS RESOLVED AS FOLLOWS:
1. THAT the Stock Exchange do continue to borrow from the Bank from time
to time by way of loan facility on terms as aforesaid and repayable on
demand upto a limit of Rs. 10,50,000/- with interest at 6% over bank rate
Minimum 15% per annum with the quarterly rests or such other terms
and at such other rate/s of interest, as may be notified by the Bank to the
Stock Exchange from time to time.
2. THAT the Stock Exchange do confirm and acknowledge the debit balance
in the account, the documents excecuted and security created in favour of
the Bank, in terms of FormL. 444 C sent by the Bank, and that in token of
such confirmation and acknowledgement, the common seal of the Stock
Exchange be affixed to the said Form L. 444 C in presence of and the
same may be signed on behalf of Stock Exchange by Mr Mathradas
Samaldas , President, and Mr. Jivanchand R.Motishaw, Member of the
Governing Board and countersigned by Mr. Amritlal J. Shah, Sceretary of
the Stock Exchange.
3. THAT the said loan account be operated upon and instructions concerning
the same may be given by and any acknowledgments or confirmations of
debt and/or security which may be required by the Bank may be given on
behalf of the Stock Exchange as heretofore.
4. AND THAT a copy of the foregoing resolutions certified to be a true copy
by the Chairman be furnished to the Bank.
13. “(1) Resolved that the present arrangement with the Bank of Karad, Ltd., for
a cash credit limit of Rs. 8.50 lakh be continued against deposit of 8%
debenture stock 1981-86 of the Stock Exchange as collateral Security.
(2) Also resolved that all necessary documents as may be required by the
Bank be executed on behalf of the Exchange by the President, a member of
the Governing Board and the Secretary and the Seal of the Exchange be
affixed thereon.”
14. The Government letter dated 26-3-79 regarding appointment of Shri A.G.
Sirsi-Regional Director Company Law, Mumbai as a Government nominee on
our Board in the place of Shri R.N. Bansal was read and taken note of.
Page 6 of 10
15. The application dated 19-4-79 of our sepoy Vilas Gyandev to give him
assistance of College fees of both the term of B.A. (Part-1) and the
examination fee was considered and it was resolved to give him assurance of
Rs.409/- from Shri M.C. Mehta Smarak Fund.
16. The letter dated 26-3-79 of our office staff member Shri M.L. Sureman
regarding resignation from his post as he was to go abroad for service and
payment of the Provident Fund amount and Gratuity was considered it was
resolved to approve payment already made to him of the amount of
Rs.15,131.29 accumulated in his provident fund account and a sum of
Rs.9241.50 on account of Gratuity.
17. The letter dated 20-2-79 of our sweeper Khachera Dhureram Tendering
resignation of his post and asking for payment of his Provident Fund and
Gratuity was considered and it was resolved to pay him the amount
accumulated in his Provident Fund and the Gratuity of Rs. 7848/-.
18. The applications of the undermentioned staff of our office for giving them
assistance for the expenses incurred by them for medical treatment during
their sickness were considered and it was resolved to give them assistance
from Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund as shown against
their names:
Sepoy Dataram Govind Rs.200/-
Liftman Tukaram Laxman Rs.120/-
Watchman S.K. Lal Rs. 46.50p
19. The application of the undermentioned persons of our office staff for giving
them loans were considered and it was resolved to give them loans as shown
below against their names:
Shri S. Ramakrishnan Rs. 10,000/-
Shri C.V. Valsan Rs. 3,000/-
Sepoy Dataram Govind Rs. 5,000/-
Sepoy Balkrishna S. Shinde Rs. 4,000/-
Sepoy Jairam Bhikaji Rs. 7,000/-
Page 7 of 10
Sepoy Vilas Gyandev Rs. 3,000/-
Liftman Sitaram Vithal Rs. 3,000/-
Bhatt Mithalal Bhuralal Rs. 3,000/-
Sweeper Harcharan Jairam Rs. 3,500/-
Sweeper Tara Mohan Rs. 2,000/-
20. The letter dated 30-4-79 of S/Shri Kisan Raitlal Choksey, Ramesh Ratilal
Choksey, Ramesh Dhirajlal Choksey, Nalin Pravin Choksey and Ashok Ratilal
Choksey regarding dissolution of their partnership with effect from 11-5-79
was read and noted.
21. The letter dated 31-3-79 of S/Shri Tribhovandas Keshavdes, Deven
Tribhovandas and Pradip Manmohandas was read and it was noted that Shri
Pradip Manmohandas had severed his partnership from the firm of M/s
Keshavlal Pranjivandas with effect from 31-3-79.
22. The letter dated 29-3-79 of S/Shri Indravadan Ranchhoddas Shah, Niranjan
Ranchhoddas Shah and Dhimant Ranchhoddas Shah was read and it was
noted that Shri Narayan Ranchhoddas Shah has severed his partnership from
the firm of M/s Ranchoddas Sekhsaran with effect from 31-3-79.
23. The applications for undermentioned partnerships were considered and the
partnerships were approved :
Name of the Partnership Firm Names of Partners Date of
Partnership
M/s Amratlal Mohanlal Shri Chimanlal Amratlal
Shri Sureshchandra J. Sheth
Shri Mridev Chimanlal Javeri
28-2-79
M/s M.K. Choksey & Co. Shri Ramesh Dhirajlal Choksey
Shri Nalin P. Choksey
11-5-79
M/s Kisan Ratilal Choksey Shri Kisan Ratilal Choksey
Shri Ramesh Ratilal Choksey
Shri Ashok Ratilal Choksey
11-5-79
M/s Shantichand N. Jhaveri Shri Rajnikant Shantilal Jhaveri
Shri Dipchand Shantilal Jhaveri
21-3-79
Page 8 of 10
24. The application dated 12-2-79 of the near relatives of the late Shri Dhirajlal
Harilal nominating Shri Ratilal Nagardas Vora as a member of the Exchange in
the place of the late Shri Dhirajlal Harilal was considered and after
interviewing Shri Ratilal Nagardas Vora and his recommenders S/Shri
Dhansukhlal Kantilal and Manubhai Maneklal it was resolved by 13 votes in
favour and none against to elect Shri Ratilal Nagardas Vora as a member of
the Exchange in the place of the late Shri Dhirajlal Harilal subject to the Rules
and Regulations of the Exchange.
25. The application dated 22-2- 79 of Shri Dilipkumar Jivanlal nominating Shri
Madan Gopal Chandmal Damani as a member of the Exchgange in his own
place was considered and after interviewing Shri Madan Gopal Chandmal
Damani and his recommenders S/Shri B.R. Dharnidharka and R.M. Thanvi it
was resolved by 12 votes in favour and 1 against to elect Shri Madan Gopal
Chandmal Damani in the place of Shri Dilipkumar Jivanlal subject to the Rules
and Regulations of the Exchange on the condition that for 2 years he should
not do business in the market in his own name.
26. The application of Shri Chimanlal Kehavji dated 15-3-79 nominating Shri
Rajababu Bhagubhai Gandhi as a member of the Exchange in his own place
was considered and after interviewing Shri Rajababu Bhagubhai Gandhi and
his recommenders S/Shri Pravin Hiralal Nanavati and Dhirajlal N. Shah it was
resolved by 12 votes in favour and one against to elect Shri Rajababu
Bhagubhai Gandhi as a member of the Exchange in the place of Shri Chunilal
Keshavdas subject to the Rules and Regulations of the Exchange.
27. The letter of Shri Tikamdas H. Idnani and Narottam B. Javeri dated 4-4-79
and 6-4-79 respectively were read and it was resolved to approve the
permission given to Shri Tikamdas H. Idnani to do business as a
Representative Member of Shri Narottam B. Jhaveri.
28. As the undermentioned companies have paid the arrears of the listing fee
payable by them, it was unanimously resolved that the undermentioned
securities should be re-admitted to our list of Non-Cleared Securities and
Page 9 of 10
trading lots of those securities should be fixed as shown against their names
below:
Asian Dehydrates Ltd. Equity 50 shares.
Jugilal Kamalapet Cotton Spg., &
Weaving Mills Co. Ltd. Equity 100 shares.
Jugilal Kamalapet Cotton Spg., &
Weaving Mills Co. Ltd. 6% Preference & 5 shares
Jugilal Kamalapet Cotton Spg., &
Weaving Mills Co. Ltd. 5% Preference & 5 shares
Jugilal Kamalapet Cotton Spg., &
Weaving Mills Co. Ltd. 101/2 Preference & 5 shares.
29. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirements stipulated by us as may be deemed proper by the
Chairman, the belowmentioned securities should be admitted to our list of
Non-Cleared Securities traded on the Exchange and the Chairman should fix
their trading lots:
Tulel Investments of India Ltd. Equity shares
Tulel Investments of India Ltd. Debentures
Steel Strips Ltd. Equity shares
Avati Leathers Ltd. Equity shares
C.W.S. (India) Ltd. Equity shares
Assam Frontier Tea Ltd. Equity shares
Cynamid India Ltd. Equity shares
Raj-Prakash Chemicals Ltd. Equity shares
Gate-way Chemicals Ltd. Equity shares
30. As Deccan Wires Ltd., has been merged with Panyam Cements Ltd., and Coal
Mills Ltd., has been merged with Swan Mills Ltd., it was unanimously resolved
to remove the securities of Deccan Wires Ltd., and Coal Mills Ltd., from our
list of Non-Cleared Securities traded on the Exchange.
Page 10 of 10
31. As the 9.5% Preference Shares of Andhra Pradesh Paper Mills Ltd., have been
redeemed it was unanimously resolved to remove the said preference shares
from our list of securities traded on the Exchange.
Sd/- Sd/-
A J Shah Mathradas Samaldas
Secretary President
Dt 17-7-79
Page 1 of 5
Tuesday, 17-7-79
A meeting of the Governing Board of the Stock Exchange was held today at Stock
Exchange at 3.00 PM under the Chairmanship of Shri Mathradas Samaldas wherein
the undermentioned members of the Board were present :
Seth Mathradas Samaldas Seth Rasiklal Maneklal
Seth Phiroze J Jeejeebhoy Seth Vasantlal Jivantlal
Seth Vasantlal Champaklal Seth Bhupendra Champaklal
Seth Jasvantlal Chhotalal Seth Ashokkumar Devidas Fozdar
Seth Vasantlal Kantilal Shah Seth Jayantilal Rangildas Khandwala
Seth Navinchandra Chhaganlal Kampani Seth Purshottam Gopiram Ruiya
Seth Jayant Amerchand Seth Chhotalal Devchand
Government Nominees
Shri M.R. Mayya
Shri M.L. Chawla
Shri A.G.Sirsi
Shri J.G.Gogte
The following business was transacted in the meeting :
1. The application dated 15-5-79 of the Poona Home and School for the Blind
was considered and it was resolved to give it a donation of Rs. 101/-
2. The application of the undermentioned organizations were considered and it
was resolved to give donations mentioned against their names:
National Society for Equal Opportunities
for the Handicapped
Rs. 1,001/-
The Stock Echange Badgeholders
Mnedical Relief centre Dispensary
Rs. 5,001/-
3. Our former Sepoy Arjun Tukaram Kamble’s application dated 4-7-79 was
considered and it was resolved to pay him the Provident Fund amount of Rs
444/-.
Page 2 of 5
4. The letters of the undermentioned members were read and it was resolved to
approve the permission given to do business as Representative members as
shown below:
Name of the Nominating Members
Name of the Representative Member
Shri Kantilal Jivantlal Vakharia Shri Amerchand Lallubhai Sukhadia
Shri Bhagubhai A Gandhi Shri Rajababu Bhagubhai Gandhi
M/s R.J. Shah & Co. Shri Trikamdas H. Idnani
5. The letter dated 31-3-79 of Shri Trikamdas H. Idnani was considered and it
was resolved to give him permission to do business in the market in his own
name.
6. The latter dated 15-6-79 of Shri Keshavlal Dhanji asking for permission to do
business in the market in his own name was considered and it was resolved
that the request cannot be acceded to
7. The letter dated 14-5-79 of S/Shri Nagardas Ravji, Bhanuchandra Nagardas
and Umesh Nagardas was considered and it was resolved to approve their
partnership under the firm name of M/s Nagardas Ravji with effect from 1-4-
79.
8. The application dated 31-5-79 of the near relatives of the late Shri Chinubhai
C Dalal nominating Shri Ashwin Chinubhai Dalal as a member of the Exchange
in the place of late Shri Chinubahi C Dalal was considered and after
interviewing Shri Ashwin Chinubhai Dalal and his recommender Shri Sevantilal
Kantilal it was resolved by 13 votes in favour and none against to elect Shri
Ashwin Chinubhai Dalal as a member of the Exchange in place of the late Shri
Chinubhai C Dalal subject to the Rules and Regulations of the Exchange.
9. The Application dated 7-6-79 of Shri Umesh Laxman Bhat nominating Shri
Krishnalal Harivallabh Parekh as a member of the Exchange in his own place
was considered and after interviewing Shri Krishnalal Harivallabh Parekh and
his recommenders S/Shri Naresh N Khandwala and Navnitlal Ambalal it was
Page 3 of 5
resolved by 13 votes in favour and none against to elect Shri Krishnalal
Harivallabh Parekh as a member of the Exchange in the place of Shri Umesh
Laxman subject to the Rules and Regulations of the Exchange.
10. The application dated 27-4-79 of Shri Shantilal Vallabhdas Sangani
nominating Shri Shripal Jain as a member of the Exchange in his own place
was considered and after interviewing Shri Shripal Jain and his
recommenders/Shri Kailas Narayan Parasrampuria and P.R.Shah, it was
resolved by 4 votes in favour and 9 against that Shri Shripal Jain cannot be
admitted as a member of the Exchange.
11. The application of Shri Ramniklal L Shah dated 14-5-79 nominating Shri
Navinchandra Varajdas Dalal as a member of the Exchange in his own place
considered and after interviewing Shri Navinchandra Varajdas Dalal and his
recommenders S/Shri Pankaj Ishwarlal Kapadia and Jitendra Champklal it was
resolved by 13 votes in favour and none against to elect Shri Navinchandra
Varajdas Dalal as a member of the Exchange in the place of Shri Ramniklal L
Shah, subject to the Rules and Regulations of the Exchange
12. The letter dated 30-4-79 of the Reserve Bank of India about permitting
delivery of Government Securities in lots larger than Rs. 25,000/- was read
and it was resolved to discuss the matter with the Reserve Bank
13. The Board considered the Government letter dated 8-3-79 relating to the
letter 22-1-79 of Shri Ratanlal Damani suggesting that Rules 8(3)(9) and
8(3)(d) of the Securities Contarcts (Regulation) Rules 1957 should be suitably
amended for permitting an individual to become a member of more than one
Stock exchange. It was resolved to write to the Government that we are not
in favour of that suggestion.
14. The letter dated 29-6-79 of Ipco Paper Mills Ltd. was considered and it was
resolved that as the Company has paid the Annual Listing for the years 1978
and 1979 its equity shares should be again replaced in our list of Non-Cleared
Securities and transaction in those shares should be made in lots of 50 shares
Page 4 of 5
15. The Listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations as well as compliance with the usual requirements and other
special requirement stipulated on such condition as may be deemed proper by
the Chairman the below-mentioned securities should be placed in our list of
Non-Cleared Securities traded on the Exchange and thus trading lots should
be fixed by the chairman.
Ramington Rand of India Ltd Equity Shares
Free India Ltd Equity Shares
Cloride (India) Ltd Equity Shares
Roplars (India) Ltd Equity Shares
International Instruments Ltd Equity Shares
Bomaby Tyre International Ltd Equity Shares
Mother & Platt (India) Ltd Equity Shares
Scottish Assam(India) Ltd Equity Shares
Pirramal Rasayan Ltd Equity Shares
The India Seamless Metal Tubes Ltd Equity Shares
Goodric Group Ltd Equity Shares
India Radiators Ltd Equity Shares
Dharuhera Chemicals Ltd Equity Shares
Dharuhera Chemicals Ltd Preference Shares
The Indo Asahi Glass Ltd Equity Shares
George Williamson (Assam) Ltd Equity Shares
Precision Jewels Ltd. Equity Shares
The Industrial Credit and Investment
Corporation of India Ltd
6 ¾ % Bonds (1999)
16. Unanimously resolved that the undermentioned Securities should be removed
from our list of Securities traded on the Exchange as they have been
redeemed:
Bombay Suburban Electric Supply Ltd 10.5% ‘C’ Class Debentures
7.75% ‘D’ Class Debenture
The Sathe Biscuit and Chocolate Co Ltd 9.1% Preference Shares
Page 5 of 5
17. Resolved to approve the purchase of 7¾ % 1978-80 Debentures of Tata
Power Co. Ltd of the face value of Rs. 50,000/- on 9-8-79 from the
Association Fund.
18. The Chairman explained the present position regarding our new building
under construction. He said that the topmost last slab of the building has
been cast. The existing buildings will be demolished, in their place basement
and super structure will be put up, the plans for which are being prepared.
Thereafter Municipal Permission will be obtained and tenders will be issued.
Besides instead of leasing out more space on rent in the lower floors, funds
will be raised by short term deposits. When municipality gives certificate for
partial occupation in the new building the offices in the present building will
be shifted to the new building and construction work of the second phase will
be taken in hand.
Sd/- Sd/-
A J Shah Mathradas Samaldas
Secretary President
Dt 25-9-79
Page 1 of 5
Tuesday 25-9-79
A meeting of the Governing Board of the Stock Exchange was held today at 3.00
P.M under the Charimanship of Seth Mathuradas Samaldas wherein the
undermentioned members of the Board were present :
Seth Mathuradas Samaldas Seth Vasantlal Jivantlal
Seth Phiroze J Jeejeebhoy Seth Bhupendra Champaklal
Seth Vasantlal Champaklal Seth J. R Motishaw
Seth Jaswantlal Chhotalal Seth A R Mahadeva
Seth Vasantlal Kantilal Shah Seth Ashokkumar Girdharlal Fozder
Seth Navinchandra Chhaganlal Seth Purshottam Gopiram Ruiya
Seth Jayant Amerchand Kampani Seth Chhotalal Devchand
Government Nominees
Shri J G Gogte
The following business was transacted in the meeting:
1. Resolved that the terms for Muhurat Business for Kartik Sam 2036 should be
kept from 6.30 P.M to 7.30 P.M on Saturday 20-10-79.
2. The application dated 14-11-79 of our late Hamal Sahdev Ganpat’s widow Bai
Savitribai S. Kadam was considered and it was resolved to pay her Rs.
8,000/- being the Provident Fund Amount and Gratuity of the late Sahdev
Ganpat.
3. The application dated 10-8-79 of our office staff member Shri Ashwin M Shah
was considered and it was resolved to pay him Rs. 143 from Seth KRP Shroff
Stock Exchange Sarvajanik Fund for college fee etc of the first term of First
LLB.
4. The application dated 17-9-79 of our Sepoy Vilas Gyandev for giving him
assistance of the college fee for the first term of B.A Part II was considered
and it was resolved to give him assistance of Rs.177/- from Seth KRP Shroff
Stock Exchange Sarvajanik Fund.
Page 2 of 5
5. The applications of the undermentioned persons of our office staff for group
them loans were considered and it was resolved to give them loans as
mentioned below against their respective names :
Sepoy Madhukar Bhiwa Rs. 500/-
Waterman S K Lal Rs. 2,000/-
Hamal Dhondu Sabaji Rs. 2,000/-
6. The letters of the undermentioned members were read and it was resolved to
approve the permissions given to them for appointment of Representatives
Members as stated below:
Nominating Member Representative Member
Seth Vrajlal Lallubhai Seth K. A Patel
Seth Hiralal Keshavdev Poddar Seth Bhagwandas Keshavji Shinde
Seth Pankaj Ishwarlal Kapadia Seth Navinchandra Varajdas Dalal
Seth V. D Vakil Seth Vithaldas Ramji Marthak
Seth Ranchhoddas Sheshkaran Seth Niranjan Ranchhoddas Shah
7. The letter dated 18-5-79 of Shri. J J Jagirdar asking for permission to do
business in the market in his own name was considered and it was resolved
that he should be allowed to do business in the market in his own name
provided he gives an additional Membership Security Deposit of Rs.50,000/-.
8. The application dated 3-9-79 of Shri Nosir Nanabhai Saher and Pultukode
Sethu Narayan Swami for partnership was considered and it was resolved to
approve partnership under the firm name of M/s Merwanji Bomanji Dalal with
effect from 1-9-79.
9. The application dated 2-8-79 of Shri Shantilal Vallabhdas Sangani nominating
Shri Yogendra Sevantilal Shah as a member of the Exchange in his own place
was considered and after interviewing Shri Yogendra Shantilal Shah and his
recommenders Shri V B Desai and Rasiklal S Jhaveri it was resolved by 12
votes in favour and 1 against to elect Shri Yogendra Shantilal Shah as a
member of the Exchange in the place of Shri Shantilal Vallabhdas Sangani
subject to the Rules and Regulations of the Exchange on condition that he
should not do business in the market in his own name until 20-9-81.
Page 3 of 5
10. The application dated 14-7-79 of Shri Kishanlal Laxmidas nominating Shri
Bhalchandra Kishanlal Adodara as a member of the Exchange in his own place
was considered and after interviewing Shri Bhalchandra Kishanlal Adodara
and his recommenders Shri Jitendra Harjinandas and Bipin K Kapadia, it was
resolved by 13 votes in favour and none against to elect Shri Bhalchandra
Kishanlal Adodara as a member of the Exchange in the place of Shri Kishanlal
Laxmidas Adodara, subject to the Rules and Regulations of the Exchange.
11. The application dated 6-8-79 of Shri Nagardas Nanji Bakhai nominating Shri
Kirti Ramanlal Shah as a member of the Exchange in his own place was
considered and after interviewing Shri Kirti Ramanlal Shah and his
recommenders Shri Sagarmal Bihani and Trambklal Amulakh, it was resolved
by 13 votes in favour and none against to elect Shri Kirti Ramanlal Shah as a
member of the Exchange in the place of Shri Nagardas Nanji Bakhai, subject
to the Rules and Regulations of the Exchange.
12. The Report, Income and Expenditure Account and Balance Sheet of our
Association for the year 1978 was passed.
13. The letter dated 5-9-79 of our Auditors M/s S B Bilimoria & Co asking for
increasing their remuneration was read and it was resolved to recommend to
the General Body to increase their remuneration to Rs.7,500/- p.a for
auditing the Accounts of the Association from the years 1979.
14. Shri Shripal Jan’s letter dated 25-7-79 requesting that his membership
application that has been rejected should be re-considered was read and it
was resolved that his request cannot be accepted. However if he so wishes he
may make an application for membership of the exchange after one year.
15. We have written to Government our reply to the letter dated 5-9-79 of the
Government of India, Ministry of Finance, Department of Economic Affairs,
Stock Exchange Division, relating to implementation of the recommendation
of the Sachhar Committee about Sections 108 (1A) to 108 (1d) of the Indian
Constitution Act. The Board noted it.
Page 4 of 5
16. The Board noted that we have repaid the loans taken from Central Bank of
India, Andhra Bank and Bank of India. It was Resolved that General Body’s
approval should be obtained for investment of funds. We may have from time
to time in Fixed Deposits with Banks and /or on the Bank Guarantee and /or
Bills accepted by Bank’s individually or jointly.
17. Resolved that if deemed proper our computer Equipment should be sold to
the Stock Exchange Foundation or another party at a proper price.
18. The Chairman informed the Board that the finishing work is being done in the
lower floors of our new building under construction and on receipt of
Municipality’s Permission for temporary occupation, offices in our all the
existing buildings will be shifted out from there and in that space construction
of basements will be taken in hand. The finishing work of the space allotted to
Bank of Baroda and General Insurance Corporation of India is going on and
possession of it will be given to them as soon as possible. Bank of Baroda has
chosen to take up a portion of the Ground Floor instead of the 6th Floor in the
Tower.
19. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that, subject to the Listing Rules and
Regulations and Compliance with the usual requirements and other special
requirements stipulated by us on such conditions as may be deemed proper
by the Chairman, their below mentioned securities should be placed in our list
of Non Cleared Securities traded on the Exchange and their trading lots
should be fixed by the chairman :
Southern Hydro- carbons Ltd Equity Shares
Fort Rock Investment Co Ltd Equity Shares
Bihar Finished Leathers Ltd Equity Shares
India Photographic Co Ltd Equity Shares
Chemiquip Ltd Equity Shares
Malayalam Plantations (India) Ltd Equity Shares
Vinod Paper Mills Ltd Equity Shares
Saraf Paper Mills Ltd Equity Shares
Supreme Paper Mills Ltd Equity Shares
Andhra Pradesh Rayons Ltd Equity Shares
Karnatak Explosives Ltd Equity Shares
Amzel Ltd Equity Shares
Gujarat State Machine Tools Corporation Ltd Equity Shares
Page 5 of 5
Pine Chemicals Ltd Equity and Preference
Shares.
Orichem Ltd Equity Shares
International Computers India Manufacturer Ltd New Equity Shares
The Gwalior Rayon Silk Mfg (Wing) Co Ltd New Equity Shares
Reliance Textile Industries Ltd Debentures
20. Unanimously resolved that the undermentioned Securities have been
redeemed, they should be removed from our list of Securities Traded on the
Exchange:
Rajasthan Spq & Wing Mills Ltd 9% of Preference Shares
Cera Can Co Ltd 10% of Preference Shares
The Thana Electric Supply Co Ltd Preference Shares
Sd/- Sd/-
A J Shah Mathuradas Samaldas
Secretary President
18-12-79
Page 1 of 7
Tuesday, 18/12/79
A Meeting of the Governing Board of the Exchange was held today at S.T. 3.00 P.M.
under the Chairmanship of Seth Mathradas Samaldas, wherein the undermentioned
members of the Board were present:
Seth Mathradas Samaldas Seth Vasantlal Jivatlal
Seth Phiroze J. Jeejeebhoy Seth Bhupendra Champaklal Devidas
Seth Jasvantlal Chhotalal Seth A. R. Mahadevia
Seth Vasantlal Kantilal Shah Seth Ashokkumar Girdharlal Fozdar
Seth Navinchandra Chhaganlal Kampani Seth Jayantilal Rangildas Khandwala
Seth Jayant Amarchand Seth Purshottam Gopiram Ruiya
Seth Rasiklal Maneklal Seth Chhotalal Devchand
The following business was transacted in the meeting:
1. Resolved that the Board takes note of the painful demise of an old and leading
member of the Exchange and Vice-President Shri Vasantlal Champklal
Mashruwala and expresses its deep sense of grief and sorrow. The Board also
takes note of the self-less services rendered by the deceased for a long time as a
member of the Governing Board, Treasurer and Vice-president of our Exchange.
The Board conveys its deep condolence and sympathy to his family members and
requests the President to send them a copy of this resolution as a mark of our
condolence to them.
2. The application of the undermentioned organization were considered and it was
resolved to give a donation of Rs. 101/- to each of them:
a. The Eduljee Framjee All-blees Leprosy Home, Trombay
b. The Maharashtra State Antituberculosis Association.
3. The application dated 3-10-79 of the sweeper Dayabai Babu was read and it was
resolved to approve the assistance of Rs. 400/- given to her for expenses in
connection with the death of the son.
Page 2 of 7
4. The letter dated 29-11-79 of our retired Sweeper Chhangaram Gangaram was
considered and it was resolved to pay him his accumulated Provident Fund
amount of Rs. 4,169/10 and a son of Rs. 2305/- as Gratuity.
5. The applications for loans of our under-mentioned office staff were consired and it
was resolved to give them loans as shown against their respective names:
Shri R.R. Nair -------------- Rs. 7000/-
Shri Ambujakshan-----------Rs.8000/-
Shri Balkrishna Yashwant---Rs.2000/-
6. The application dated 26-9-79 of S/Shri Gangaram Raghunath Pandya and Bharat
Gangaram Pandya was considered and it was resolved to approve their
partnership under the firm name of M/s G.R. Pandya with effect from 12-10-79.
7. The letters of the undermentioned members were considered and it was resolved
to give them permission to do business as representative Member:
Nominating Member Representative Member
Shri Jitendra Harjivandas Shri Bhalchandra Keshavlal Adodara
Shri Nagindas Chhanganlal Kampani Shri Mangaldas Lalji Kampani
M/s Shantichand B Jhaveri Shri Jamnadas Kanji Vanza
Shri Balubhai Maganlal Jhaveri Shri Amratlal Parmananda
8. The letter dated 19-11-79 of Shri Bhupendra Meghji Bheda was considered and it
was resolved to give him permission to do business as a Representative member
of Shri Kantilal Mohanlal.
9. The letter dated 12-11-79 of Shri Devidas Jamnadas was considered and it was
resolved to give him permission to do business in his own name if he gives an
additional membership Security Deposit of Rs. 50,000/-.
Page 3 of 7
10. The letter dated 1-10-79 of Shri Vinitkumar P Parikh was considered and it was
resolved that if he wishes to do business as a Representative Member of some
other member he should be given permission for that
11. The letter dated 12-11-79 of Shri Keshavji Dhanji asking for permission to do
business in his own name was considered and it was resolved that his request
cannot be acceded to.
12. Our Association Holidays for the year 1980 were fixed.
13. The letter dated 18-10-79 of Shri Jeram Thakersi Halai requesting for withdrawal
of the decision for his expulsion was read and it was unanimously resolved that
his request cannot be accede to.
14. The application dated 3-10-79 of Shri Jeramdas D Jasnani nominating Shri
Rajkumar Kesardev as a member of the Exchange in his own place was
considered and after interviewing Shri Rajkumar Kasardev and his recommenders
S/Shri Bhagwati-Prasad Rungta and V.K.Nanavati it was resolved by 13 votes in
favour and none against to elect Shri Rajkumar Kasardev as a member of the
Exchange in the place of Shri Jerandas D Jasnani subject to the Rules and
Regulations of the Exchange.
15. The application dated 4-10-79 of the near relatives of the late Shri Parmeshwarlal
Dwarkadas Sekhsaria nominating Shri Ashok Chandrakant Samani as a member
of the Exchange in the place of the late Parmeshwarlal Dwarkadas Sekhsaria was
considered and after interviewing Shri Ashok Chandrakant Shah and his
recommenders S/Shri Ashok J Khandwala and Arvind C Dalal it was resolved by
11 voters in favour and 2 against to elect Shri Ashok Chandrakant Samani as a
member of the Exchange in the place of the late Shri Parmeshwarlal Dwarkadas
Sekhsaria subject to the Rules and Regulations of the Exchange.
16. The application dated 30-10-79 of the near relatives of the late Shri Murlidhar
Mahadev Loyalka, nominating Shri Mahendrakumar Murlidhar Loyalka as a
member of the Exchange be the place of the late Shri Murlidhar Mahadev Loyalka
was considered and after interviewing Shri Mahendrakumar Murlidhar Loyalka
Page 4 of 7
and his recommenders S/Shri M.D. Saraf and Arvind C Dalal it was resolved by
13 voters in favour and none against to elect Shri Mahendrakumar Murlidhar
Loyalka as a member of the Exchange in the place of the late Shri Murlidhar
Mahadev Loyalka subject to the Rules and Regulations of the Exchange.
17. The application dated 23-8-79 of Shri Hoshang Framrose Munshi nominating Shri
Madhur Madanmohan Murarka as a member of the Exchange in his own place
was considered and after interviewing Shri Madhur Madanmohan Murarka and his
recommenders S/Shri Suresh B Shirali and Hasmukh Tribhovandas Shah it was
resolved by 10 votes in fovour and 3 against to elect Shri Madhur Madanmohan
Murarka as a member of Exchange in the place of Shri Hoshang Framrose
Munshi, subject to the Rules and Regulations of the Exchange on the condition
that he should not do business in the market in his own name for a period of two
years.
18. The application dated 16-11-79 of Shri Amrutlal C Sheth nominating Shri Manilal
Bhikhabhai as a member. of the Exchange in his own name was considered and
after interviewing Shri Manilal Bhikhabhai and his recommender S/Shri
Sunderdas Kalyanji Kankal and Jasvantlal Chhaganlal as well as reading the
letter of objection dated 26-11-79 of Shri Jeran Thakarsi Halai, it was resolved by
8 voters and 5 against to elect Shri Manilal Bhikhabhai as a member of the
Exchange in the place of Shri Amrutlal C Sheth Subject to Rules and Regulations
of the Exchange on the condition that he should not do business in his own name
for a period of two years.
19. The application dated 28-11-79 of shri Lakshmidas Govindji Kothari nominating
Shri Mukund Mathuradas Shah as a member of the Exchange in his own place
and after interviewing Shri Mukund Mathuradas Shah and his recommenders
S/Shri Manharkant Lakshmidas and Prasanna P Broker it was resolved by 12
votes in favour and 1 against to elect Shri Mukund Mathuradas Shah as a
member of the Exchange in the palace of Shri Laxmidas Govindji Kothari, subject
to the Rules and Regulation of the Exchange on the condition that for two years
he should not do business in the market in his own name.
Page 5 of 7
20. The application dated 29-11-79 of the near relatives of the late Shri C.R. Loyalka
nominating Shri Khimchand Sardarji Raval as a member of the Exchange in the
place of the late Shri C.A. Loyalka was considered and after interviewing Shri
Khimchand Sardarji Raval and his recommenders S/Shri V.K.Nanavati and
Manubhai Maneklal it was resolved by 13 votes in favour and none against to
elect. Shri Khimchand Sardarji Raval as a member of the Exchange in place of
the late Shri C.R. Loyalka, subject to the Rules and Regulations of the Exchange.
21. Resolved that Current account be opened with the Bank of India, Stock Exchange
Branch, Bombay, A/C ‘A’ and the said account be operated jointly by the
President Shri Matradas Samaldas or the Chairman, Shri P.J.Jeebhoy, or the Hon.
Treasurer, Shri Navinchandra Chhaganlal Kampani and by any one of the
following six members of the Governing Board, namely Shri J.R.Motishaw, Shri
Rasiklal Maneklal, Shri Jayant Amerchand, Shri Vasantlal K.Shah, Shri Jasvantlal
Chhotalal and Shri A.R. Mahadevia and be countersigned by the Secretary, Shri
A.J.Shah and in his absence by Shri S.N.Karaka or Shri M.D.Vyas.
22. The Chairman informed the board that on receipt of Municipality permission for
temporary occupation of the lower floors of our new building under construction,
offices of all our existing buildings will be shifted there and the work relating to
diaphragm wall, piling and basements will be taken in hand in the vacant space
so created. For that work tenders received from cementation and Rodio Hazarat
are being evaluated. The tenders for diaphragm wall and piling are upto level 5
Ft Rodio Hazarats’s tender is of Rs. 25 lakhs. Cemenatton has not submitted its
tender for that work.
23. The Listing application of the undermentioned Companies were considered and it
was unanimously resolved that, subject to the Listing Rules and Regulations and
compliance with the usual requirement and other special requirement and other
special requirement stipulated by us on such condition as may be deemed proper
by the Chairman, their below-mentioned securities should be placed in the our
list of Non-Cleared securities traded on the Exchange and their trading lot should
be fixed by the Chairman:
Punjab Woodcomber Ltd. Equity
Page 6 of 7
Nicolas Laboratories India Ltd Equity
Shree Ambuja Petrochemicals Ltd Equity
Hardcastle Vovet Mfg Co Ltd Equity
Kerala Acids & Chemicals Ltd. Equity
Orient Ceramics and Industries Ltd. Equity
May & Baker(India) Ltd Equity
Pratap Rajasthan Special Steels Ltd Equity
Khatau Jankar Ltd Equity
Diamines and Chemicals Ltd Equity
Ficom Organics Equity
Asia Automotives Ltd Equity
Cemendea Ltd Equity
Rasi Cements Ltd Equity
Jaipur Syntex Ltd Equity
Heco Products Ltd Equity
Star Machinery Mfg Co Ltd Equity
Uptron Anand Ltd Equity
Rapid Investments Ltd Equity
Techno Electria and Engineering Co Ltd Equity
Good Value Marketing Co Ltd Equity
The East India Hotels Ltd New Equity
24. The letters of the undermentioned Companies were considered and it was
unanimously resolved that their Securities should be removed from our list of
Securities traded on the Exchange with effect from 1-1-1980 as they do not want
their securities to continue to be traded:
Plastic Resins and Chemicals Ltd.
Tubes and Malleable Ltd.
25. Unamiously resolved to remove the undermentioned securities from our list of
securities traded on the Excghange as they have been redeemed:
Bharat Forge Co.Ltd Prefernce Shares
Shivanji Works Ltd 30,000 9.3% Preference Shares issued in 1964
Page 7 of 7
The Associate Cement Cos Ltd Debenture
26. The correspondence with the Tube Investment of India Ltd and G.L.Hotel was
read and it was resolved that in view of the clarification given by them, the
matter should be dropped for the present. The Board considered the
correspondence between the Bangalore Stock Exchange and Vrindavan Alloys
Ltd, copies of which have been sent to us by the Bangalore Stock Exchange and
unanimously resolved to call for company’s explanation in that connection and if
the Bangalore Stock Exchange removes the shares of that Company from the list
of securities traded on that Exchange. We should also remove its shares from the
list of Securities traded on our Exchange.
Sd/- Sd/-
A. J. Shah Mathradas Samaldas
Secretary President
Dt. 13-2-1980
1
Saturday, 9-2-80
A meeting of the Governing Board of the Exchange was held today as S. T. 2.30 under
the Chairmanship of Seth Mathradas Samaldas, wherein the under mentioned members of
the Board was present:
Seth Mathradas Samaldas Seth Bhupendra Champaklal Devidas
Seth Jasvantlal Chhotalal JSeth J. R. Motishaw
Seth Vasantlal Kantilal Shah Seth Ashokkumar Girdharilal Fozdar
Seth Laldas Jamnadas Seth Jayantilal Rangildas Khandwala
Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya
Seth Rasiklal Maneklal Seth Chhotalal Devchand
Government Nominee
Shri M. L. Chawla
The following business was transacted in the meeting:
1 Resolved that this Board painfully takes note of the sudden and unexpected
demise of our respected Chairman Shri. P. J. Jeejeenhoy and expresses its deep
sense of grief and sorrow. He has made huge and invaluable contribution for
growth of the Exchange by dedicating his whole life and time in rendering selfless
service to the Stock Exchange. Whenever emergences, baffling situations and
other difficulties arose in the market, he tackled them with wisdom and tact. He
constantly worked for preserving and enhancing the interest of the members, their
Staff, other people working in the market and investors. Not only that, by
systemizing the Stock-broker profession and Stock Exchange business he made
significant contribution in increasing their pride and prestige. It is because of
these efforts made by him that the Stock Exchanges are so vary dynamic and
performing their part so well at present in raising the necessary capital for rapid
expansion of industrialisation of the country. Until his last breath he made tireless
efforts for increasing the volume of business on the Exchangfe by introducing
2
new schemes, simplifying Settlement procedures and conceptualizing new
building, its completion and creating modern facilities for accelerating the growth
of business. It is our misfortune that the destiny has snatched him away from us
before complete realization of his dreams of positioning our Exchange along with
other leading Stock Exchanges in the world. His is an irrespirable loss. This
Board prays to the Almighty God to bestow eternal peace to his pious soul and
also conveys his heartfelt sympathy and condolences to all his family members.
The Board requests the President to send a copy of this Resolution to his family
members as a token of sharing their grief and sorrow.
Sd/- Sd/-
A. J. Shah Mathradas Samaldas
Secretary President
Date 13-2-1980
1
Wednesday, 13-2-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 2.30
pm. under the Chairmanship of Seth Mathradas Samaldas wherein the under
mentioned members of Board were present:
Seth Mathradas Samaldas Seth Vasantlal Jivatlal
Seth Jasvantlal Chhotalal Seth Bhupendra Champaklal Devidas
Seth Vasantlal Kantilal Shah Seth J. R. Motishaw
Seth Laldas Jamnadas Seth A. R. Mahadevia
Seth Navinchandra Chhaganlal Kampani Seth Ashokkumar Girdharlal Fozdar
Seth Jayant Amerchand Seth Jayantilal Rangildas Khandwala
Seth Rasiklal Maneklal Seth Purshottam Gopiram Ruiya
Seth Chhotalal Devchand
Government Nominees
Shri M. R. Mayya
Shri M. L. Chawla
Shri A. G. Sirsi
Shri J. G. Gogte
The following business was transacted in the meeting:
1 The Board discussed the situation arising out of the sudden demise of our
Chairman Shri P. J. jeejeebhoy,
2 Shri M. R. Mayya, while paying tribute the late Shri P. J. Jeejeebhoy praised
invaluable services rendered by him to the Stock Exchange for a long time and
said that even Government had great respect for him. He further said that Shri P.
J. Jeejeebhoy’s loss is irrepairable and the value of his services unredeemable.
The President suggested that for administration of our organisation and the
market, our Secretary Shri A. J. Shah should be vested with the necessary
authority and the matters relating to the building should be looked after by the
Building Sub-Committee.
2
Thereafter a resolution was unanimously passed as follows:
“The Governing Board considered the question regarding the delegation and
exercise of the power in view of the sad and sudden demise of the Chairman Shri
P. J. Jeejeebhoy. The President pointed out that till any final decision is taken
regarding the successor to Mr. Jeejeebhoy, it was advisable to make a proper
arrangement so that the smooth functioning of the Exchange be continued. It
was discussed that in view of the provisions of Rule 154(b) the functions and
powers of the Chairman shall be exercised by a senior available officer of the
Exchange under the directions of the Governing Board. The senior available
officer of the Exchange is Mr. A. J. Shah, the Secretary of the Exchange.
After discussion it was resolved that, until otherwise resolved, all the powers of
the Governing Board for day to day administration of the Exchange, including
power under Rules 120(iv), 120(v), 120 (vii), 120(ix),120(x), 120, (xi),
120(xiv), 120(xv) and to regulate working of the market, shall be exercised by
Mr. A. J. Shah, the Secretary of the Exchange and he is further authorized to
take all the necessary steps in that behalf as he may deem fit.”
3 Unanimously resolved to give powers to our Secretary Shri. A. J. Shah for
considering listing applications for enlistment of bonus / right securities issued by
the companies listed on the Exchange or new Securities issued by them without
Prospectus and for admitting such securities in the list of securities traded on the
Exchange.
Sd/- Sd/-
A. J. Shah Laldas Jamnadas
Secretary President
Date: 11-3-80
1
Monday, 18-2-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 4.30
pm. under the Chairmanship of Seth Mathradas Samaldas wherein the under
mentioned members of Board were present
Seth Mathradas Samaldas Seth Vasantlal Jivatlal
Seth Jasvantlal Chhotalal Seth Bhupendra Champaklal Dalal
Seth Vasantlal Kantilal Shah Seth J. R. Motishaw
Seth Laldas Jamnadas Seth A. R. Mahadevia
Seth Navinchandra Chhaganlal Kampani Seth Ashokkumar Girdharlal Fozdar
Seth Jayant Amerchand Seth Jayantilal Rangildas Khandwala
Seth Rasiklal Maneklal Seth Purshottam Gopiram Ruiya
Seth Chhotalal Devchand
Government Nominees
Shri M. R. Mayya
Shri M. L. Chawla
Shri A. G. Sirsi
Shri J. G. Gogte
The following business was transacted in the meeting:
1 Dr. N.K. Sengupta, Jt. Secretary, Economics Affairs Department, Finance Ministry
had come on a visit. The President welcomed him and introduced him to the
members of the Board and expressed hope that the Government’s support, co-
operation and valuable guidance will continue to be available as before, even
after the unexpected demise of our respected Chairman the late Shri
P.J.Jeejeebhoy because of which his meeting with the late Shri P.J. Jeejeebhoy
which was scheduled to take place to-day as planned in advance did not
materialise. Making mention of the unmatchable service rendered by the late Shri
P. J. Jeejeebhoy to our Stock Exchange and other Stock Exchanges as well as his
valuable guidance that was being received by the Government and which would
not be available now, he highly lauded Shri P.J. Jeejeebhoy. He emphasized the
need to protect the high prestige built-up by Shri P.J. Jeejeebhoy and continue to
endeavor to complete the unfinished tasks begun by him.
2
Thereafter, the Board discussed matters relating to the problems faced by the
companies, investors, brokers and the stock broking business because of the
provisions of Sections 108 (1-A) to (1-D) of the Companies Act as well as the
recommendations made in the Sachar Committee’s Report.
Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President
Date: 11-3-80
1
Tuesday, 11-3.-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm.
under the Chairmanship of Seth Mathradas Samaldas, wherein the undermentioned members of
the Board were present:
Seth Mathradas Samaldas Seth Bhupendra Champaklal Devidas
Seth Ishwarlal Chhotalal Seth J. R. Motishaw
Seth Vasantlal Kantilal Shah Seth A. R. Mahadevia
Seth Laldas Jamnadas Seth Ashok Kumar G. Fozdar
Seth Navinchandra Chhaganlal Kampani Seth Jayantilal Rangildas Khandwala
Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya
Seth Rasiklal Maneklal Seth Chhotalal Devchand
Government Nominees
Shri. M. R. Mayya
Shri J. G. Gogte
The following business was transacted in the meeting:
1 The applications for help of the undermentioned institutions were consider and it was
resolved to donate Rs. 101/- to each of them
1 The Bombay Dumb and Deaf Institution
2 All India Federation of the Deaf.
2 The application dated 7-3-80 from our office staff member Shri Ashwin M. Shah was
considered and it was resolved to give him help of Rs. 238/- for the college fee of the
second term of first LLB, examination fee, etc. from Seth K.R.P. Shroff Stock
Exchange Sarvajanik Fund..
2
3 The application dated 6-3-80 of our Sepoy Vilas Gyandev for giving him help we
considered and it was resolved to give him help of Rs. 283/- from Seth. K.R.P. Shroff
Stock Exchange Sarvajanik Fund for the 2nd term college fee of B. A. Final Part 2.
4 The report of Shri Shapurji Brorcha Brokers’ Helping Fund dated 15-2-80 was read and
it was resolved to approve it.
5 The late Shri Harkisandas Pranlal Desai was being geven help from Sir Shapurji
Brorcha Brokers Helping Fund As he has expired, his son Shri Amratlal Harkisandas’s
application dated 15-1-80 for giving that help for one more year because of the
expenses incurred in performance of the obsequies ceremonies was considered and it
was resolved to give to help of Rs. 480/- to Shri Amratlal Harkisandas from Sir Shapurji
Brorcha Brokers Helping Fund.
6 The applications for loans of the undermentioned persons of our office staff were
considered and it was resolved to give them loans as mentioned against their respective
names:
Shri V. K. Suverna Rs. 10,000/-
Liftman Maruti Govind Gajmal Rs. 4,000/-
Sepoy Dinanath Sarmalkar Rs. 4,000/-
7 The application dated 9-1-80 of Shri Ajay R. Vakharan for appointing Shri M. J. Halai
as his Remiser was considered and it was resolved that his request could be acceded to .
8 As Shri Vasantlal Chhampakal has expired, the letter dated 7-3-80 of Shri Jitendra
Champaklal Mashruwala, Smt. Sumati Vasnatlal and Shri Deepal Vasantlal Mashriwala
asking for permission to continue the business of the partnership firm of M/s. Bhaidas
Maganlal & Co. was considered and it resolved to give them permission to continue the
business of the partnership firm of M/s. Bhaidas Maganlal & Co. upto 31-3-80.
3
9 The letter dated 26-12-79 of S/Shri Rasiklal Sarabhai Jhaveri and Pradip Rasiklal
Jhaveri was read and it was noted that, as Shri Arunbhai Sarabhai Jhaveri has expired
on 10-12-79 his partnership in the firm of M/s. S. D. Jhaveri has ceased.
10 The application dated 19-1-80 of the S/Shri Minoo Ardesar Karanjia, Soli Ardesar
Karanjia and Madhur Madan Morarka for their partnership was considered and it was
resolved to approve the partnership under the name of M/s. Batliwala & Karani with
effect from 1-1-1980.
11 The letter of the undermentioned members were read and it was resolved to approve the
permission given to them to do business as Representative Members as shown below:
Nominating Member Representative Member
Shri V. K. Nanvati Shri Khamchand Serdarji Raval
SHri Manubhai Maneklal Shri Ramniklal Mangaldas
M/s. Mohanlal Nagardas & Co. Shri Gopikishan Kishanlal Rungta
12 The application dated 28-1-80 of Shri Narendra P. Broker for nominating Shri Alkesh
Dinesh Modi in his own place was considered and after hearing his recommenders
S/Shri R. R. Shah and Jitendra Harjivandas it was resolved by 13 votes in vavour and
none against to elect Shri Alkesh Dinesh Modi as member of the Exchange in the place
of Shri Narendra P. Broker, subject to the Rules and Regulations of the Exchange on
condition that he should not do business in the market in his own name for a period of
two years.
13 Resolved that S/Shri Jayantilal Mansukhlal Dalal, Nagindas Trambkalal and S. N. Shah
be appointed as scrutineers for scrutinising the ballot papers for election of the
Governing Board for the year 1980-81 and declaring its result.
4
14 The letter dated 28-1-80 and 25-2-80 of Shri Chimanlal Khanna were read and it was
resolved to inform him to make an application for membership of according to the
Rules and Regulation of the Exchange.
15 “RESOLVED THAT the first interest for the period ended 31st March, 1980, on the
Fixed Deposits with us be made payable to the depositors through Bank of India, Stock
Exchange Branch, Bombay from our Current Account with them.
Further, Resolved that the signature of Mr. A.J. Shah be pre-printed on the interest
warrants and that Mr. A.J. Shah is hereby authorised to give instructions regarding
operation of the account and relating to payment of the interest either in cash or by
Money Order as the case may be, on behalf of the Exchange and to sign letters of
indemnity and undertaking required by the Bank of India, for that purpose, as per the
specimen thereof produced to the Governing Board with such alterations as may be
deemed necessary.
Further Resolved that the common seal of the Exchange be affixed to the above
mentioned letters of indemnity and undertaking in the presence of two members of the
Governing Board namely Shri Jayant Amerchand and Shri Vasantlal Kantilal Shah.”
16 In the case of the Public Issue of its Convertible Bonds, Tata Engineering and
Locomotive Co. Ltd. desires to pay brokerage at a rate higher than the usual rate and
also on a graded scale. In that connection, Governments letter dated 3-3-80 was
considered and the matter was discussed and it was resolved that we are in favour of the
Scheme of brokerage prepared by the Company to encourage brokers to make the
necessary hard efforts and put in hard work for getting the bonds subscribed in view of
the huge amounts of the Bonds and because the Bonds are not being undermention
It was further resolved that we favour in principal payment of brokerage at rates higher
the usual rate and / or in quoted scale in order to necessary encouragement to brokers
also in Public Issues of such their Debentures / Bonds of very large amounts.
5
17 The listing application of the undermentioned Companies were considered and it was
unanimously resolved that, subject to the Listing Rules & Regulation as well as
compliance with the usual requirement and other special requirement stipulated by us,
their below mentioned securities should be placed in our list of Non-Cleared Securities
traded on the Exchange and their trading lots should be fixed:
Techno Electric and Engineering Co. Ltd. Equity Shares
Sulfar India Ltd. Equity Shares
Currim Keskami Ltd. Equity Shares
Western India Erectors Ltd. Equity Shares
Deccan Investment Ltd. Equity Shares
Upar Chemicals Ltd. Equity Shares
Crauetey Ltd. Equity Shares
----- and Lloyds of India Ltd. Equity Shares
Eence ----- Development Co. Ltd. Equity Shares
Mipco Investment Ltd. Equity Shares
Shrideet Trading and Agencies Ltd. Equity Shares
The Industrial Credit and Investment Corporation of India Ltd.
6 ¾ % Bonds (2000)
18 The letters of the under mentioned companies were read and it was unanimously
resolved that their securities should be removed from our list of securities traded on the
Exchange as they do not want to continue their securities to be traded;
Aruna Sugars Ltd.
The Devnagri Cotton Mills Ltd.
The Dehri-Rohtas height Rly Co. Ltd.
Ashok Cement Ltd.
Textile Processing Corporation of India Ltd.
18 Unanimously resolved to removed the undermentioned securities from our list of
Securities traded on the Exchange as they have been redeemed:
6
Gujarat State Fertilizer Co. Ltd 9.3 % Pref. Shares
Kirloskar Oil Engines Ltd 8.10% Participating Pref. Shares
Sd/- Sd/- A. J. Shah Mathradas Samaldas Secretary President
Date: 17-4-80
1
iThursday, 17-4-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 2.30
pm., in the beginning under the Chairmanship of Seth Mathradas and thereafter
under the Chairmanship of Shri Laldas Jamnadas wherein the under mentioned
members of Board were present:
Seth Laldas Jamnadas Seth Jayantilal Rangildas Khandwala
Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani
Seth Arvind Chimanlal Dalal Seth Prabhudas Lilladher
Seth Jasvantlal Chhotalal Seth Ashokkumar Girdharlal Fozdar
Seth Jayant Amerchand Seth J. R. Motishaw
Seth Rasiklal Maneklal Seth Purshottam Gopiram Ruiya
Seth Bhupendra Champaklal Dalal Seth Kirtikumar Narbheram Parekh
Seth Ramdas Lallubhai
Government Nominees
Shri M. R. Mayya
Shri J. G. Gogte
The following business was transacted in the meeting:
1 Proposed by Shri Rasiklal Maneklal and supported by Shri Jayant Amerchand,
Seth Mathradas Samaldas was unanimously elected as a Chairman of today’s
meeting.
2 Proposed by Seth Mathradas Samaldas and supported by Seth Rasiklal
Maneklal it was unanimously resolved to elect Seth Laldas Jamnadas as the
President.
Seth Mathradas Samaldas handed over to the Chairmanship to Seth Laldas
Jamnadas. Seth Laldas Jamnadas thanked all the members of the Board for
reposing their trust in him by re-electing him as the President and praised the
service rendered by Seth Mathradas Samaldas to our Association as
President. He welcomed S/Shri Arvind C. Dalal, Prabhudas Lilladher,
Kirtikumar Narbheram Parekh and Ramdas Lallubhai and congratulated them
for being elected as members of the Board. He said that all of us are proud by
the way in which we have maintained our name, fame and honour during
2
more than hundred years existence of our market and expressed hope that
old and new members of the Board will continue to give co-operation for that
collectively and individually by making sacrifice. He also expressed hope that
the Government Nominees also will continue to give support and co-operation
as usual.
3. Proposed by Seth Rasiklal Maneklal and supported by Seth Purshottam
Gopiram Ruia it was unanimously resolved to elect Shri Vasantlal Kantilal
Shah as the Vice-President.
4. Proposed by Seth Jayant Amerchand and supported by Seth Arvind C. Dalal it
was unanimously resolved to elect Seth Navinchandra Chhaganlal Kampani as
Treasurer.
5. Resolved to nominate the undermentioned persons as members of the
Arbitration Committee for the year 1980-81 :
Shri Keki N. Chinoy Shri V.K. Nanavati
Shri Jayantilal H. Dalal Shri Jayendra D. Mehta
Shri Champaklal Balubhai Marfatia Shri Rasiklal S. Jhaveri
Shri D.V. Shukla Shri Govindbhai B. Desai
Shri Hariram Dwarkadas Shri Jitendra Champaklal Mashruwala
Shri Bhagubhai Amthalal Gandhi Shri Shirish Chimanlal Dave
Shri S.M. Shah Shri Kirtilal K. Shah
Shri Nagindas Trambaklal Parekh
Resolved further that the remaining one seat should be filled up later.
6. Resolved that the Defaulter Committee for the year 1980-81 should be
appointed consisting of the undermentioned members:
Shri Jayant Amerchand Shri Jayantilal Mansukhlal Dalal
Shri Vasantlal Kantilal Shah Shri Rasiklal S. Jhaveri
Shri Jasvantlal Chhotalal Shri Nagindas Trambaklal Parekh
7. Resolved to appoint Sir Shapurji Broacha Brokers’ Helping Fund consisting of
S/Shri J.R. Motishaw, Mathradas Samaldas, Jayant Amerchand and Dhirajlal
Maganlal.
8. Resolved to appoint the Building Finance Committee consisting of the
undermentioned members:
Shri Jayant Amerchand Shri J.R. Motishaw
3
Shri Vasantlal Kantilal Shah Shri Rasiklal Maneklal
Shri Mathradas Samaldas
9. Resolved to appoint Building Works Committee consisting of S/Shri Jayant
Amerchand, Vasantlal Kantilal Shah, Jasvantlal Chhotalal, Ashokkumar G.
Fozdar, Prabhudas Lilladher, Ramdas Lallubhai, Jayantilal Mansukhlal Dalal
and Nagindas Trambakdas.
10. Resolved that cheques be signed by the President Shri Laldas Jamnadas, or
the vice President Shri Vasantlal Kantilal Shah or the Hon. Treasurer Shri
Navinchandra Chhaganlla Kampani and any one of the following five members
of the Governing Board, namely Shri J. R. Motishaw, Shri Jayant Amerchand,
Shri Jaswantlal Chhotalal, Shri Arvind C. Dalal and Shri Ramdas Lallubhai and
be countersigned by the Secretary Shri A.J. Shah and in his absence by Shri
S.N. Karaka or Shri M.D. Vyas.
11. Resolved that the various accounts and safe custody accounts of the
Exchange be operated on jointly by the President Shri Laldas Jamnadas or the
Vice-president Shri Vasantlal Kantilal Shah or the Hon. Treasurer Shri
Navinchandra Chhaganlal Kampani and by any one of the following five
members of the Governing Board, namely, Shri J.R. Motishaw, Shri Rasiklal
Maneklal, Shri Jayant Amerchand, Shri Jasvantlal Chhotalal and Shri Ramdas
Lallubhai and be countersigned by the Secretary, Shri A.J. Shah and in his
absence by Shri S.N. Karaka or Shri M.D. Vyas.
12. Resolved that the current account and safe custody accounts with Bank of
India in the name of the Stock Exchange Staff Provident Fund and the Stock
Exchange Staff Gratuity fund be operated on either by any law of the Trustees
of the Exchange for the time being or the survivors or survivor of them or
jointly by the Hon. Treasurer Shri Navinchandra Chhaganlal Kampani and any
one of the following five members of the Governing Board, namely, Shri J.R.
Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand, Shri Jasvantlal
Chhotalal and Shri Ramdas Lallubhai and be countersigned by the Secretary
Shri A.J. Shah and in his absence by Shri S.N. Karaka or Shri M.D. Vyas.
4
13. The Governing Board was informed that Bank of Baroda, Bombay, has
agreed at the request of “The Stock Exchange” to grant to the Stock
Exchange a clean Temporary Overdraft facility up to a limit of Rs. 20,00,000/-
( Rupees Twenty Lakhs Only) inter alia against the following documents and
after noting this it was:-
RESOLVED THAT sanction be and is hereby given to the Stock
Exchange to borrow from Bank of Baroda, Bombay, by way of clean
Temporary Overdraft Account up to a limit of Rs. 20,00,000/- (Rupees Twenty
Lakhs only) inter alia against the following documents and that “The Stock
Exchange” do execute the relevant documents in this behalf.
1. A Demand pronote for Rs. 20,00,000/- signed on behalf of the Stock
Exchange by Shri Laldas Jamnadas, the President, Shri Vasantlal Kantilal
Shah, Member of the Governing Board, and by the Secretary Shri A.J.
Shah.
2. A letter of continuing security for Rs. 20,00,000/- signed on behalf of
“The Stock Exchange” by Shri Laldas Jamnadas, the President, Shri
Vasantlal Kantilal Shah, Member of the Governing Body and by the
Secretary Shri A.J. Shah.
RESOLVED FURTHER THAT the said Overdraft Account with the Bank
be operated upon by (1) the President, Shri Laldas Jamnadas or the Vice-
President Shri Vasantlal Kantilal Shah or the Hon. Treasurer Shri
Navinchandra Chhaganlal Kampani (2) any one of the following five Members
of the Governing Board, namely, Shri J.R. Motishaw, Shri Jayant Amerchand,
Shri Jasvantlal Chhotalal, Shri Arvind C. Dalal and Shri Ramdas Lallubhai and
be countersigned by the Secretary, Shri A.J. Shah, and in his absence by Shri
S.N. Karaka or Shri M.D. Vyas.
RESOLVED FURTHER THAT the said Bank be and are hereby authorised
to honour all cheques, Bills of Exchange, Promissory Notes, drawn, endorsed,
accepted or made by the abovenamed as aforesaid and to act on instructions
so given by them relating to the account whether the same be overdrawn or
not or relating to the transactions of the Company.
5
RESOLVED LASTLY THAT a certificate true copy of the foregoing
resolution be furnished to the Bank for their records.
14. The application dated 24-3-80 of the near relatives of the late Shri
Champaklal Amerchand nominating Shri Harikishan Hiralal Bisa as a member
of the Exchange in the place of the late Shri Champaklal Amerchand was
considered and after interviewing Shri Harikishan Hiralal Bisa and his
recommenders S/Shri Vinaychandra Narbheram Parekh and Brijmohan
Sagarmal it was resolved by15 votes in favour and none against to elect Shri
Harikishan Hiralal Bisa as a member of the Exchange in place of the late Shri
Champaklal Amerchand subject to the Rules and Bye-laws of the Exchange.
15. The application dated 2-4-80 of Shri Sakarchand Hathsung nominating Shri
Hemendra Mathradas Kothari as a member of the Exchange in his own place
was considered and after interviewing Shri Hemendra Mathradas Kothari and
his recommenders S/Shri Maganlal T.Vora and Priyankant M. Dalal it was
resolved by 15 votes in favour and none against to elect Shri Hemendra
Mathradas Kothari as a member of the Exchange in the place of Shri
Hathsung Sakarchand, subject to the Rules and Regulations of the Exchange.
16. The application dated 18-2-80 of the near relatives of the late Shri Jasvantlal
Maneklal nominating Shri Mahendra Chunilal Babu as a member of the
Exchange in the place of the late Shri Jasvantlal Manilal was considered and
after interviewing Shri Mahendra Chunilal Babu and his recommenders S/Shri
Sureshchandra Nandlal and Narandas Jawaharlal it was resolved by 12 votes
in favour and 3 against to elect Shri Mahendra Chunilal Babu as a member of
the Exchange in the place of late Shri Jasvantlal Maneklal subject to the Rules
and Regulations of the Exchange on condition that he should not do business
in the market in his own name for a period of two years.
17. The application dated 20-3-80 of Shri Cyrus P. Bharucha for the post of a
computer operator was considered and it was resolved to appoint him for the
said post in the grade of Rs. 750-50-1,500, with the initial pay of Rs.750/-
per month.
18. The application dated 15-10-79 of our former site supervisor Shri M.S.
Kaupara was considered and it was resolved to pay him the amount of Rs.
2197.44p accumulated in his Provident Fund Account.
6
19. The application dated 26-3-80 of our office sepoy Dattaram Govind fro giving
him a loan was considered and it was resolved to give him a loan of Rs.
5000/-.
20. The letter dated 12-3-80 of Ms. Pramila Suryakant Maniar, wife of late Shri
Suryakant Harilal Maniar was considered and it was resolved to approve the
permission granted to Shri Hemantkumar Rasikalal to continue the business
of late Shri Suryakant Harilal Maniar as per her request.
21. The letter dated 28-3-80 of Smt. Prabhavte Ratilal Shah and S/Shri Ramniklal
Ratilal Shah and Saualal Ratilal Shah was considered and it was resolved that
as requested by them Shri Ramniklal Ratilal Shah should be given permission
to continue the business of M/s R.J.Shah & Co., for a period of three months.
22. Letter of the undermentioned members were read and it was resolved to
approve the permission given to do business as a Representative Member as
shown below:
Nominating Member Representative Member
M/s R.M. Thanvi Shri M.G. Damani
M/s Debidutt K. Modi Shri Vinitkumar P. Parikh
23. The undermentioned partnerships were approved:
Name of the Partnership Firm Name of Partners Date of Partnership
M/s Bhaidas Maganlal Shri Jitendra Champaklal 1-4-80
Shri Vinay Jitendra Mashruwala
M/s Jasvantlal V. Bhagat Shri Jasvantlal V. Bhagat 1-4-80
Shri Bakul Jasvantlal Bhagat
24. The letter dated 15-4-80 of M/s Hiralal Lilladher as well as the letter dated
22-3-80 of Shri Bhagwandas Madurai and the letter dated 24-3-80 of Shri
Dwarkadas J. Madurai was read and it was resolved to give permission to Shri
Bharat Hiralal to do business in the market in his own name if he gives an
additional membership security of Rs.50,000/-.
25. The Government’s letter dated 10-3-80 regarding Nagarjuna Fertilisers and
Chemicals was considered and it was resolved that taking into consideration
the large amount of capital to be issued by the Company we have no
objection to permission being given to the Company for issuing equity shares
of the face value of Rs.100/- each.
7
26. The listing applications of the undermentioned companies were considered
and it was unanimously resolved that subject to the Listing Rules and
Regulations and compliance with the usual requirements and other specific
requirements stipulated by us, their below mentioned securities should be
placed in our list of Non-Cleared Securities traded on the Exchange and their
trading lots should be fixed:
Narendra Explosives Ltd. ….. Equity
Lohia Machines Ltd. ….. Equity
Ruston and Hornsby (India) Ltd. …… Equity
Modern Suiting Ltd. …… Equity
Indo Swiss Time Ltd. …… Equity
27. Unanimously resolved that as the undermentioned companies have not yet
paid the Annual Listing fee for the year 1979 though repeatedly reminded,
their securities should be removed from our list of securities traded on the
Exchange if they do not pay up the said fee until 17-5-80:
1. Arakali Swachatel Vahan Ltd.
2. Behar Hotels Ltd.
3. Chenco Pulp Tissues Ltd.
4. Heneket Industrial Investment Co. Ltd.
5. Indo-Swiss Pipe Manufacturers Ltd.
6. New Commercial Investment and Trading Co. Ltd.
7. Prestolete of India Ltd.
8. Punchkala Mart Ltd.
9. Ramacast Ltd.
10. Sakarmari Steel & Alloys Ltd.
11. Simtade Ltd.
12. Vijaywada bottling Co.Ltd.
13. Willard India Ltd.
28. The letters of the undermentioned companies were read out and it was
unanimously resolved to remove their securities from our list of securities
traded on the Exchange as the companies do not want to continue their
securities to remain in our list of securities traded on the Exchange.
1. Mercantile Credit Corporation Ltd.
2. The British India Corporation Ltd.
8
3. Daleriwala Steel and Engineering Co.Ltd.
29. Unanimously resolved that as the deferred shares of Swastik Textile Mills
Ltd., have been converted into ordinary shares, the deferred shares should be
removed from our list of securities traded on the Exchange.
Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President
Date: 26-4-80
1
Saturday, 26-4-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 4.30
pm., under the Chairmanship of Seth Laldas Jamnadas wherein the under mentioned
members of Board were present:
Seth Laldas Jamnadas Seth Jayantilal R. Khandwala
Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani
Seth Mathradas Samaldas Seth Prabhudas Lilladher
Seth Jasvantlal Chhotalal Seth Ashokkumar Girdharlal Fozdar
Seth Jayant Amerchand Seth J. R. Motishaw
Seth Rasiklal Maneklal Seth Purshottam Gopiram Ruiya
Seth Bhupendra Champaklal Dalal Seth Kirtikumar Narbheram Parekh
Seth Ramdas Lallubhai
The following business was transacted in the meeting:
1 The President and Seth Bhupendra Champaklal had discussion in Delhi with
Dr. Sengupta, Jt. Secretary, Finance Ministry and Shri M.R. Mayya of the
Stock Exchange division about selection and appointment of a successor to
our late Chairman Shri P.J. Jeejeebhoy. The President acquainted the Board
about that discussion and Government’s view in that respect. Keeping that in
mind it was resolved to appoint a Selection Committee consisting of S/Shri
Hasmukh T. Parekh, Laldas Jamnadas, Vasantlal Kantilal Shah, Jayant
Amerchand and a Government Nominee under the Chairmanship of Shri
Hasmukh T. Parekh to select a successor to late Shri P.J.Jeejeebhoy.
It was further resolved that if the Committee has any difficulty in selecting a
suitable person it may make selection after inviting applications by
advertisement.
Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Date: 2-5-80
1
Friday, 02-05-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 4.00
pm., under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned
members of the Board were present:
Seth Laldas Jamnadas Seth Jayantilal R. Khandwala
Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani
Seth Mathradas Samaldas Seth Prabhudas Lilladher
Seth Jasvantlal Chhotalal Seth Ashokkumar Girdharlal Fozdar
Seth Jayant Amerchand Seth J. R. Motishaw
Seth Bhupendra Champaklal Devidas Seth Purshottam Gopiram Ruiya
Seth Ramdas Lallubhai Seth Kirtikumar Narbheram Parekh
Government Nominee
Shri M. R. Mayya
The following business was transacted in the meeting:
1. The Board considered the Report dated 02-05-1980 submitted by the
Committee appointed for making recommendation for appointment of a
successor to the Late Shri P. J. Jeejeebhoy and took note of the Committee’s
unanimous recommendation for appointment of Shri V. D. Sonde. During the
discussion on the matter, Shri M. R. Mayya said that though the
Government’s approval for appointment of the Chairman is not needed under
the present Rules and Regulations, we should write to the Government to
know the views about the abovementioned appointment, as a matter of
courtesy, and should make the appointment only after receipt of
Government’s reply. It will be necessary to make suitable amendments in the
Rules and Regulations for obtaining prior approval of the Government for
making appointment of the Chairman in the future. After discussion, it was
resolved that the matter relating to appointment of Shri V. D. Sonde as our
Chairman as per the recommendation of the abovementioned Selection
Committee should be considered in the next meeting hereafter.
2. The President acquainted the Board with the details of the objections received
in connection with the transfer of offices from our existing building to the new
2
building and the situation that has arisen because of that and the efforts
being made by the Building Sub – Committee.
Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President
Date: 09-05-1980
1
Thursday, 10-06-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 4.30
pm., under the Chairmanship of Shri Laldas Jamnadas wherein the under mentioned
members of the Board were present:
Seth Laldas Jamnadas Seth Jayantilal Rangildas Khandwala
Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani
Seth Mathradas Samaldas Seth Prabhudas Lilladher
Seth Jayant Amerchand Seth Ashokkumar G. Fozdar
Seth Rasiklal Maneklal Seth Purshottam Gopiram Ruiya
Seth Jasvantlal Chhotalal Seth Kirtikumar Narbheram Parekh
Seth Ramdas Lallubhai
Government Nomonees
Shri M. K. Chawla
Shri J. G. Gogte
The following business was transacted in the meeting:
1. The matter relating to taking of a loan from Bank of India was discussed
2. “Resolved That a notice as under should be issued:
“All the Members are hereby informed that the Governing Board has resolved that as
the work of shifting the members’ offices to the new building is going on at
present for facilitating that work, it has been decided to make arrangements for
doing business in the market and fix the programme as under:
Wednesday, 11-06-1980 – ST.T.12 to 2 pm in the existing Trading Hall
Thursday, 12-06-1980 – The market will remain closed for business
Friday, 13-06-1980 – ST.T.12 to 1 pm in the existing Trading Hall
Saturday, 14-06-1980 – ST.T.12 to 1pm in the New Building
Monday, 16-06-1980 – ST.T.12 to 1pm in the New Building
Tuesday, 17-06-1980 – ST.T.12 to 2pm in the New Building
Wednesday, 18-06-1980 – ST.T.12 to 2pm and Budget Session in the New Building
Thursday, 19-06-1980 and onwards – As usual in the New Building
2
3. As there appeared to be misunderstanding among some members regarding the
temporary offices given to members in the new building in lieu of their original
offices in the Stock Exchange buildings, it was RESOLVED THAT after completion
of the construction, in including the IInd phase, where find allotment of offices is
made to the members in the new building in lieu of their original offices, special
care will be taken to allot them offices, the same area as that of the original
office, according to our records or of the area of their offices in the present
building whichever be larger and as much as possible ground the trading hall in
the new building, according to the location of their original offices around the
their trading hall. If the area of the new office allotted be smaller than that of
their original office, the remaining office space will be allotted some distance
away.
Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President
Date: 16-06-1980
1
Monday, 16-06-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T.
4:30 p.m. under the Chairmanship of Shri Laldas Jamnadas, wherein the
undermentioned members of the Board were present;
Seth Laldas Jamnadas Seth Navinchandra Chhaganlal Kampani
Seth Vasantlal Kantilal Shah Seth Prabhudas Lilladher
Seth Mathradas Samaldas Seth Ashokkumar G. Fozdar
Seth Jasvantlal Chhotalal Seth J.R. Motishaw
Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya
Seth Rasiklal Maneklal Seth Kirtikumar Narbheram Parekh
Seth Jayantilal R.Khandwala Seth Ramdas Lallubhai
Government Nomonees
Shri M. K. Chawla
Shri J. G. Gogte
The following business was transacted in the meeting;
1. The President acquainted the Board about the on going negotiations with the
Bank of India to give it on lease two floors in the tower of our new building
and obtain from it a loan of Rs. 1,25,00,000/-. He also gave a report of his
talks with the Government on 13.06.1980 about appointment of a Chairman
of our Exchange.
2. The application dated 23-05-1980 of Shri Ramesh H. Patel, site supervisor of
our new building, for a loan of Rs. 2000/- was considered and it was resolved
to give approval for that loan given to him.
3. The application dated 20-05-1980 of our sepoy Tukaram Bhikaji for giving
him a loan was considered and it was Resolved to give him a loan of Rs.
4000/-.
4. The letter dated 14-05-1980 of Shri Tribhovandas Keshavlal and Devendra
Kesawlal was read and it was noted that Shri Devendra Kehvlal had ceased to
2
be a partner in the firm of M/s. Kesavdas Pranjivandas with effect from 1-4-
1980.
5. The Government’s letter dated 27-3-80 was considered and it was resolved to
inform the Government in writing that we were against putting any
restrictions on transfer of shares in small lots.
6. Resolved that the notice No. 1254/80 dated 11-6-80 put up by the President,
should be confirm. It was further Resolved that in order to facilitate work of
shifting of offices of the members that is going up on at present, our market
should be kept closed for business on Wednesday, 25-06-80 and Friday, 26-
6-80.
Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Date: 19-06-1980
1
Thursday, 19-06-1980
A meeting of the governing Board of the Stock Exchange was held today at
S.T. 6:00 p.m. under the Chairmanship of Shri Laldas Jamnadas, wherein the
undermentioned members of the Board were present;
Seth Laldas Jamnadas Seth Jayantilal R. Khandwala
Seth Vasantlal Kantilal Shah Seth Prabhudas Lilladher
Seth Mathradas Samaldas Seth Ashokkumar G. Fozdar
Seth Jasvantlal Chhotalal Seth J.R. Motishaw
Seth Jayant Amerchand Seth Navinchandra Chhaganlal Kampani
Seth Rasiklal Maneklal Seth Kirtikumar Narbheram Parekh
Seth Ramdas Lallubhai
Government Nomonees
Shri M. K. Chawla
1. Dr. N.K. Sengupta, Jt. Secretary, Finance Ministry of Economic Affairs
department and the Controller of Capital issues, Shri R.N. Bansal, were
present by invitation. The matter regarding proposed amendments to
section 108(1A) to (1D) of the Companies Act, contemplated by
Government was discussed with them.
2. The President informed the Board about the talks he had with
Government about appointment of Shri V.D. Sonde as Chairman of
our Exchange.
Sd/- Sd/-
A.J. Shah Laldas Jamnadas
Secretary President
Date: 01-07-1980
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Thursday, 01-07-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3:30 p.m. under the Chairmanship of Shri Laldas Jamnadas, wherein the undermentioned members of the Board were present:
Seth Laldas Jamnadas Seth Jayantilal Rangildas Khandwala
Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani
Seth Mathradas Samaldas Seth Prabhudas Lilladher
Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar
Seth Arvind Chimanlal Seth Purshottam Gopiram Ruiya
Seth Jayant Amerchand Seth Kirtikumar Narbheram Parekh
Seth Rasiklal Maneklal Seth Ramdas Lallubhai
Government Nomonees
Shri M.R. Mayya
Shri M. K. Chawla
Shri J. G. Gogte
The following business was transacted in the meeting;
1. In response to our proposal for appointment of Shri V.D. Sonde as
Chairman of our Exchange, Government’s letter dated 21-07-1980 and
its telex message 23-03-1980 giving approval for appointment of Shri
V.D. Sonde as Executive Director were read out after discussing the
matter it was resolved that the President should persuade the
Government to grant our desire to appoint Shri V.D. Sonde as
Chairman of our Exchange.
2. Resolved that the tenants of our erstwhile Karson Netha builder who
have been given office on the fifth floor of the Exchange building and
are again to be shifted to office in our new building under construction
should again be given assurance in writing by the President, as given
by the Chairman previously that after completion of construction of our
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new building they will be given offices in the new building of the same
area as of there original offices.
3. In connection with the request of the members to them to install
telephones in the Trading Hall in view of the difficulties experienced by
them in communicating between their offices and the market because
of the long distances between their offices in the new building and the
Trading Hall, it was RESOLVED THAT subject to the number of such
telephones which could be installed in the Trading Hall, permission
should be granted to members for installation of our telephone per
number on payment of subscription of Rs. 4000/- p.a.
4. “The President reported that the Bank of India (hereinafter referred to
as “the Bank) had agreed with the Stock Exchange to take on lease
two floors in their New Building, which is under construction, each
admeasuring 9,000 sq. ft., for the purpose of accommodating the
various Departments and offices of the Bank as set out in their letter
No. BMH,DVP,NGK,12796 dated 28.05.1980, Stock Exchange letter
dated 29.05.80 and Bank’s letter dated 04.06.80
He also stated that it was agreed that the Stock Exchange would
execute lease in respect of the 23rd floor of the said New Building in
favour of the Bank within three months and a further lease in respect
of another floor within a period of three years at the most, and for that
purpose it was necessary to execute a suitable undertaking in favour
of the Bank pending finalization of the lease documents.
He requested the Governing Board to pass the necessary resolutions
for executing the said undertaking and for such other documents as
may be required to be executed by the Stock Exchange in favour of
the Bank.
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IT WAS RESOLVED AS FOLLOWS:
1. That the Stock Exchange do give on lease to the Bank the whole
of the 23rd floor and also another floor, each admeasuring 9,000
sq. ft. for the period, at the rent and upon the terms and
conditions set out in the Bank’s letter No. BHR/DVP/NGK/12796
dated 28th May, 1980 addressed to the Stock Exchange, Stock
Exchange letter dated 29th May, 1980 addressed to the Bank’s
letter dated 4th June, 1980 addressed to the Stock Exchange
which be and are hereby approved and that the same be
suitably incorporated in the draft Agreement to lease with the
draft of the dead of lease and the draft of the Agreement for
overall service and facilities (to be annexed thereto) to be
executed by the Stock Exchange in favour of the Bank when the
name is prepared and approved by the parties in the course and
that the Stock Exchange shall execute these documents when
prepared, on being requested to do so by the Bank.
2. That the Stock Exchange do execute in favour of the Bank an
irrevocable undertaking to execute a lease or separate leases in
favour of the Bank in respect of the said premises in terms of
the draft thereof which is prodused to and approved by the
Governing Board and is initialed for identification by the
President.
3. That the Stock Exchange do also execute in favour of the Bank
such other documents as may be required by the Bank to be
executed from time to time by the Stock Exchange in favour of
the Bank in a form mutually acceptable to the Stock Exchange
and the Bank and that the President be and he is hereby
authorized to approve all such documents on behalf of the Stock
Exchange.
4. That the Common Seal of the Stock Exchange to affixed to the
said documents, viz,
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i.) Irrevocable undertaking to be give to the Bank, and
ii.) Any other documents required to be executed in favour of
the Bank,
in the presence of Laldas Jamnadas, President of the Stock
Exchange, and Jivanchand Ratanchand Motishaw , Rasiklal
Maneklal, Dhirajlal Maganlal and Jayant Amerchand, the
Trustees of the Stock Exchange.
5. And that the copy of the foregoing resolutions certified to be a
true copy by the President be furnished to the Bank and the
Bank be requested to act thereon.
5 The President reported that the Bank of India (hereinafter referred to
as “the Bank) had, at the request of the Stock Exchange, agreed to
grant to it a total advance of Rs. 125 lacs payment whereof with
interest at the agreed dates is to be secured by an equitable mortgage
of the immovable properties of the Stock Exchange situate at Dalal
Street, Bombay, as mentioned in the Bank’s letter No.
BMR/DVP/NGK/12797 dated 25.05.1980, Stock Exchange letter dated
29.05.1980 and Bank’s letter dated 04.06.1980.
He requested to the Governing Board to pass the necessary resolutions
for obtaining the said advance of Rs. 125 lacs, execution of the
documents and creation of the security in favour of the Bank.
IT WAS RESOLVED AS FOLLWS:
1 That the Stock Exchange do borrow from the Bank by way of
loan an aggregate sum of Rs. 125 lacs payable at Bombay
carrying interest of Rs.14% per annum with monthly interests
on an amount of Rs.62.50 lacs and repayable om ten years be
equated monthly installments and carrying interest @ 18% per
annum for the balance of the loan of Rs.62.50 lacs to be
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reduced to 14% p.a. from the date Bank gets possession of the
second of the two floors agreed to be leased to it, repayment
whereof shall commence after 3 years and shall be payable
within 10 years after such repayment commences by equated
monthly installments and that the terms and conditions of the
said loan are as broadly set out in the Bank’s said letter No.
BMR/DVP/NGK/12797 dated 28.05.1980, Stock Exchange letter
dated 29.05.1980 and Bank’s letter dated 04.06.1980, and on
such other terms as may be mutually Agreed upon.
2 That the Stock Exchange do execute in favour of the Bank the
following documents vis:
i.) The Loan Agreement in respect of the entire loan of Rs.125
lacs,
ii.) Irrevocable Power of Attorney authorizing the Bank to
create a mortgage on behalf of the Stock Exchange in
terms of the drafts thereof which are produced to the
Governing Board and initialed for identification by the
President.
3 That the Stock Exchange do also execute in favour of the Bank
such other documents as may be reasonably required by the
Bank to be executed from time to time by the Stock Exchange in
favour of the Bank in a form required by the Bank.
4 That the Common Seal of the Stock Exchange be affixed to the
said documents, vis:
i.) The Loan Agreement in respect of the entire loan of Rs.125
lacs
ii.) Irrevocable Power of Attorney authorizing the Bank to
create the mortgage on behalf of the Stock Exchange,
when prepared;
In the presence of Shri. Laldas Jamnadas, President of the Stock
Exchange, and Shri Jivanchand Ratnchand Motishaw, Shri
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Rasiklal Maneklal, Shri Dhirajlal Maganlal and Shri Jayant
Amerchand the Trustees of the Stock Exchange.
5 That Shri Laldas Jamnadas, President of the Stock Exchange,
and Shri Jivanchand Ratanchand Motishaw, Shri. Rasiklal
Maneklal, Shri Dhirajlal Maganlal and Shri Jayant Amerchand the
Trustees of the Stock Exchange, be and are hereby severally
authorized to approve and / or confirm on behalf of the Stock
Exchange any other documents that may be required by the
Bank to be executed from time to time by the Stock Exchange in
favour of the Bank.
6 That Shri, Laldas Jamnadas, President of the Stock Exchange,
and Shri Jivanchand Ratanchand Motishaw, Shri Rasiklal
Maneklal, Shri Dhirajlal Maganlal and Shri Jayant Amerchand,
the Trustees of the Stock Exchange, be and they are hereby
authorized jointly and each severally to attend as the Bank and
deposit on behalf of Stock Exchange the title-deeds of the
immovable properties belonging to the Stock Exchange
comprising the land together with existing building, the New
Building under construction and the building to be hereafter
construction situated at the junction of Dalal Street, Apollo
Street and Hamam Street with intent to create security thereon
by was of equitable mortgage for the due repayment by the
Stock Exchange of the total loan of Rs.125 lacs (to be availed of
in two loan accounts) with interested at the agreed rates and
also for any advances of any nature now due or pending or that
may be made or become due hereafter from time to time either
in the said loan account or accounts or in any other account and
for all costs (between Advocates and Clients) charges and
expenses incurred by the Bank for protection, preservation
enforcement and realization of the security and recovery of its
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dues and so that the security so created shall be and always
remain a continuing security.
7 That the said Shri Laldas Jamnadas, President of the Stock
Exchange, and Shri. Jivanchand Ratanchand Motishaw, Shri
Rasiklal Maneklal, Shri Dhirajlal Maganlal and Shri Jayant
Amerchand, the Trustees of the Stock Exchange, be and he is /
they are hereby also authorized to assure declare to the Bank
on behalf of the Stock Exchange that it has marketable title to
said immovable properties which are to be equitably mortgage
to the Bank and that, except for the mortgage already created /
agreed to created in favour of (1) 8% Debenture Stock 1981-86
– Rs.2,00,00,000/- (2) General Insurance Corporation –
Rs.1,25,46,000/- (3) Bank of Baroda – Rs.2,45,00,000/- there
is no other mortgage, charge, lien or other encumbrance on the
said immovable properties in favour of any person, firm,
company, body corporate or society or entity and that the
Stock Exchange has not entered into any Agreement for Sale
thereof or any part or parts thereof.
8 That the said loan accounts be operated on and instructions
concerning the same may be given and any acknowledgements
or confirmations of debt and / or security which may be required
by the Bank may be executed on behalf of the Stock Exchange
by any one /two of the following persons, viz;
1 Shri Laldas Jamnadas
2 Shri Jivanchand Ratanchand Motishaw
3 Shri Rasiklal Maneklal
4 Shri Dhirajlal Maganlal
5 Shri Jayant Amerchand
9 And that a copy of the foregoing resolutions certified to be a
copy a true copy of the President furnished to the Bank and the
Bank requested to act thereon.
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6 The application dated 23-6-1980 of Bai Sulochana Dattaram Kurup,
was considered and it was resolved to give for assistance of Rs. 1240
from Seth KRP Shroff Stock Exchnage Sarvajanik Fund for expenses of
medical treatment and post demise occurrences of our late Shri
Dattaram ……. And his.
7 The listing applications of the undermentioned companies were
considered and it was unanimously resolved that subject to the laws
Rules and Regulations and compliances with the usual requirement
and other applicable requirements stipulated by us, their below
mentioned scripts be should be placed in our list non listed securities
traded on the Exchange and their trading lots should be fixed:
1. Standard Motor Products of India Ltd. Equity &
6.5% Prefe.
2. Sujram Silk Mills Ltd. Equity
3. New Sagar Trading Co. Ltd. Equity
4. Mac Trading Co, Ltd. Equity
5. Alirt Trading Co. Ltd. Equity
6.Ankur Agencies Ltd. Equity
7. Talbross Automotive Ltd. Equity
8. Gordon Woodross Ltd. Equity
9. Lucky Agencies Ltd. Equity
10. Akash Agencies Ltd. Equity
11. Ace Trading Co. Ltd. Equity
12. Malbar Trading Co. Ltd. Equity
13 Anmol Trading Co. Ltd. Equity
14. S.B. trading & Agencies Ltd. Equity
15. Comet Filaments (India) Ltd. Equity
16. The Industrial credit and Information 7.5% Bonds
Corporation of India Limited (2000)
8 The application dated 25-06-1980 of S/Shri Nandkishore Nathumal
Mandsorwala and Chandraprakash Nandkishore Mittal was considered
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and it was resolved to approve their partnership between the two firms
name of NN Mandsorwala with effect from 04-07-1980.
9 The Board considered the Government letter dated 02-06-1980
replying to Shri S. S. Gulati’s letter dated 31-03-1980, suggesting
modification of the share transfer form to provide for furnishing the
transferee’s folio No. be a shareholder of the company. It was
Resolved that as we are of the view that Share transfer form should be
as simple and easy as possible. We do not fevour the abovementioned
suggestions.
10 Government’s letter dated 15-06-1980 was considered and it was
resolved that we are in favour of the suggestions that if a demand
warrants does not carry the discharge of the shareholders, the amount
of such dividend warrant be paid by crediting it to the shareholders
account on the guarantee of the Bank.
Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Date: 16-07-80
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Wednesday, 16-07-1980
A meeting of the Governing Board of the Exchange was held today at S.T.
11:30 a.m. under the Chairmanship of Shri Laldas Jamnadas wherein the
undermentioned members of the Board were present;
Seth Laldas Jamnadas Seth Jayantilal Rangildas Khandwala
Seth V.D. Soude Seth Navinchandra Chhaganlal Kampani
Seth Mathradas Samaldas Seth Prabhudas Liladhar
Seth Arvind C. Dalal Seth Ashokkumar G. Fozdar
Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya
Seth Jayant Amerchand Seth Kirtikumar Narbheram Parekh
Seth Rasiklal Maneklal Seth Ramdas Lallubhai
Government Nomonees
Shri M. K. Chawla
The following business was transacted in the meeting;
1. Resolved that as Shri Kailashnarayan Madanlal Parasrampuria has
failed to meet his liabilities in the market, he is declared as a defaulter.
Further resolved that the Chairman should hereafter fix and declare
the delivering rates for closing the transactions which the members
have with the defaulter Shri Kailashnarayan Madanlal Parasrampuria
for the settlement of the transactions from 08-07-1980 to 22-07-1980.
2. “RESOLVED HAT the second interest for the period ending 9th August,
1880 to 30th September, 1980 on the Fixed Deposit with us be made
payable to the depositors through Bank of India, Stock Exchange
Branch, Bombay our Current Account with them.
Further, Resolved that the signature of Mr. A. J. Shah be pre-printed
on the interest warrants and that Mr. A. j. Shah is hereby authorized
to give instructions regarding operation of the account and relating to
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payment of the interest either in cash or by Money Order as the case
may be, on behalf of the Exchange and to sign letters of indemnity and
undertaking required by the Bank of India, for that purpose, as per the
specimen thereof produced to the Governing Board with such
alterations as may be deemed necessary.
Further Resolved that the common Seal of the Stock Exchange be
affixed to the above mentioned letters of indemnity and undertaking in
the presence of two members of the Governing Board namely Shri
Jayant Amerchand and Shri Vasantlal Kantilal Shah.
Sd/- Sd/- A.J. Shah V.K. Shah Secretary President Date: 12/08/80
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Tuesday, 12-08-1980
A meeting of the Governing Board of the Stock Exchange was held today at ST 3:00 p.m.
under the Chairmanship of Seth Vasantlal Kantilal Shah, wherein the undermentioned
members were present:
Seth Vasantlla Kantilal. Shah Seth Jayantilal R. Khandwala
Seth V.D. Sonde Seth Navinchandra Chhaganlal Kampani
Seth Mathrdas Samaldas Seth Prabhudas Liladhar
Seth Arvind C. Dalal Seth Ashokkumar G. Fozdar
Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Raiya
Seth Jayant Amerchand Seth Kirtikumar Narbheram Parekh
Seth Rasiklal Maneklal Seth Ramdas Lallubhai
Government Nominees
Shri. M.R. Mayya
The following business was transacted in the meeting:
1. The application dated 14-07-1980 of the Poona School and Home for the Blind
was considered and it was resolved to give it a donation of Rs. 101/-.
2. The Government’s letter dated 19-07-1980 regarding appointment of Smt.
Achuttan Saraswat, Regional Director, Company Law Board, Mumbai, as a
Government Nominee on our Board, in the place of Shri A.S. Suri, was read and
taken note of.
3. The resignation letter of Shri. R.M. Patel, Supervisor of our new Building was
read out it was resolved to accept his resignation with effect from 21-08-1980 and
pay him the sum of Rs. 3011. 30/- accumulate in his Provident Fund Account.
4. Resolved that the amount of Rs. 5,44,810/38 accumulated in the Provident Fund
Account of our late Chairman Shri P.J. Jeejibhoy and the gratuity of Rs.
1,00,000/-due to him should be paid for depositing in his bank account.
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5. The applications for loan of our office staff members mentioned below were
considered and it was resolved to give them loans as shown against their names:
Shri. R.R. Shivalkar Rs. 5000/-
Shri. A.B. S. Nair Rs. 2500/-
6. Our Association Report for the year 1979, Income and Expenditure account and
balance sheet were passed.
7. The letter dated 17-07-1980 of S/Shri. Vasantlal Vrajlal, Ramesh Vrajlal and
Harendra Vrajlal was considered and it was resolved that the permission given to
Shri Vasantlal Vrajlal to continue the business of the late Shri Vrajlal Lallubhai
for a period of three months should be approved.
8. The letter dated 17-07-80 of Shri. Jayantilal N. Jariwala and M/s. Bhagwati
Prasad Rungta were read out it was resolved to approve the permission given to
Shri Jayantilal N. Zariwala to do business as a representative member of M/s.
Bhagwati Prasad Rungta.
9. The letter dated 26-06-1980 of Shri Viralkumar P. Parekh asking for permission
to do business in the market in his own name was considered and it was resolved
to write to him that if he wants to do business as a Representative Member of
some other member he will be given permission for that.
10. The application dated 23-06-1980 of the near relatives of the late Shri Sevantilal
Chimanlal nominating Shri Sudesh Damodarprasad as a member of the Exchange
in the place of the late Shri Sevantilal Chimanlal was considered and after
interviewing Shri Sudesh Damodarprasad Saboo and his recommenders S/Shri
Bhagwatiprasad Roongta and Bisesarlal Khandwala it was resolved by 13 votes in
favour and none against to elect Shri Sudesh Damodarprasad Saboo as a member
of the Exchange in the place of the late Shri Sevantilal Chimandas, subject to the
Rules and Regulations of the Exchange on the condition that within one month he
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should leave Dinesh textiles and he should not do business in the market in his
own name until 2-3-82.
11. The application dated 7-7-1980 of the near relative of the late Shri Bhagwandas
Harakchand nominating Shri Pradip Rasiklal Jhaveri as a member of the
Exchange in the place of the late Shri Bhagwandas Harakchand was considered
and after interviewing Shri Pradip Rasiklal Jhaveri and his recommenders S/Shri
V B Desai and Vipul Chinubhai it was resolved by 13 votes in favour and none
against to elect Shri Pradip Rasiklal Jhaveri as member of the Exchange in the
place of the late Shri Bhagwandas Harakchand, subject to the Rules and
Regulations of the Exchange.
12. The application dated 2-5-1980 of Shri Shivkumar Jatashankar Sharma
nominating Shri Anantrai Amarsi Parekh as a member of the Exchange in his own
place was considered and after interviewing Shri Anantrai Amarshi Parekh and
his recommenders S/Shri Sureshchandra Nandlal Shah and Jayantilal C. Parekh it
was resolved by 13 votes in favour and none against to elect Shri Anantrai
Amarshi Parekh, as a member of the Exchange in the place of Shri Shivkumar
Jatashankar Sharma subject to the Rules and Regulations of the Exchange.
13. The application dated 8-7-1980 of Shri Chunilal Gogaldas Shah nominating Shri
Dushyant Dayaldas Bhakta as a member of the Exchange in his own place was
considered and after interviewing Shri Dushyant Dayaldas Bhakta and his
recommender Shri Sudhir Chandrasen Porecha it was resolved by 13 votes in
favour of and none against to elect Shri Dushyant Dayaldas Bhakta, as a member
of the Exchange in the place of Shri Chunilal Gajandas Shah, subject to the Rules
and Regulations of the Exchange on the condition that he should not do business
in the market in his own name until 30-4-81.
14. The listing applications of the undermentioned companies were considered and it
was unanimously resolved that, subject to the Listing Rules and Regulations as
well as Compliance with the usual requirements and other specific reguirments
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stipulated by us, their below mentioned securities should be placed in our list of
Non-Cleared securities traded on the Exchange and their trading lots should be
fixed:
Shree Vallabh Glass Works Ltd. Equity
The Andhra Cement Co. Ltd. Equity & 6% Preference Shares
Kesorani industries and Cotton Mills Ltd. Equity 10% Prof. and 9% Prof.
11% Debenture & 7.5% Debentures
Universal Convejor Bettings Ltd. Equity and Preference
Rajsthan Glycoxal Ltd. Equity
Iptvell Refractories Ltd. Equity and Preference
Mettron Conduction Ltd. Equity
Rustogi Trading and Agencies Ltd. Equity
Fex Consultancy securities Ltd. Equity
Swaraj Trading and Agencies Ltd. Equity
Cosmo Films Ltd. Equity
Sudarshan Alluminium Industries Ltd. Equity
Nizam Papers and Board Mills Ltd. Equity
Marathwada Refrectories Ltd. Equity and Preference
Kshitij Instruments Ltd. Equity
Dolphin Investments Ltd. Equity
The Baroda Rayon Corporation Ltd. 11% Preference
15. Resolved that as the undermentioned companies have loan merged with Voltas
Limited, their securities should be removed from our list of securities traded on
the Exchange.
1. Tata Nerlyan and Grey Ltd.
2. The National Electrical Industries Ltd.
16. Resolved that the undermentioned securities should be removed from our list of
securities traded on the Exchange as they have been removed;
1. The Maysore Kirloskar Ltd. - Redeemable Preference Shares
2. The Swastik Textile Mills Ltd. 5% Pref. Shares
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3. Mahindra & Mahindra Ltd. 6% Pref. Shares
4. Graphite India Ltd. 9.3% Pref. Shares
5. Star Textiles Engineering Works Ltd. 11% Pref. Shares
6. Bharat Steel Tools Ltd. 9.3% Pref. Shares
7. The ….. Sugar Mills Ltd. 9.5% Pref. Shares
8. Mohta Industries Ltd. 9.5% Pref. Shares
9. Bombay Suburban Electric Supply Ltd. ‘E’ class Debentures
10. The Amalgamated Electricity Supply Co. Ltd. 9 ½ % Bonds
Sd/- Sd/- A.J. Shah V.K. Shah Secretary President 16-9-1980 ………………………………………………………………………………………………
The Governing Board had passed the following resolution by a circular dated 5-9-1980.
“Resolved that for facilitating settlement, our market should be kept open for transacting
business on the undermentioned days during the time mentioned against them until 17-9-
1980 and should be kept closed for business in between the other days.”
Day Time
Saturday 6-9-1980 S.T. 12 to 1
Monday 8-9-1980 S.T. 12 to 1
Thursday 11-9-1980 S.T. 12 to 1
Friday 12-9-1980 S.T. 12 to 12:30
Tuesday 16-9-1980 S.T. 12 to 1
Sd/- Sd/-
A.G. Shah V.K. Shah Secretary President Date:16-9-1980
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Tuesday, 16-9-1980
A meeting of the Governing Board of the Stock Exchange was held today at ST 3:00 p.m.
under the Chairmanship of Seth Vasantlal Kantilal Shah, wherein the undermentioned
members were present:
Seth Vasantlal K. Shah Seth Jayantilal R. Khandwala
Seth V.D. Soude Seth Navinchandra Chhaganlal Kampani
Seth Mattradas Samaldas Seth Prabhudas Liladhar
Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar
Seth Jayant Amerchand Seth Purshottam Gopiram Raiya
Seth Bhupendra Champaklal Seth Kirtikumar N. Parekh
Seth Ramdas Lallubhai
Government Nominees
Shri. J. G. Gogte
The following business was transacted in the meeting:
1. On account of the go slow policy adopted by the staff of the members for a long time
till now, settlements of transactions in ‘A’ group and ‘B’ Group Securities have not
taken place since long and are still pending. Board deliberated on the risky situation of
the market that has arisen because of this and resolved that in view of the above the
prevailing conditions our market should be kept closed for doing business from
Wednesday 17-9-1980 to Friday 19-9-1980 for facilitating Settlement work.
2. The application dated 23-08-1980 of Indian Red Cross Society for help was
considered and it was resolved to give it a donation of Rs. 101/-.
3. The application dated 11-9-80 of Shri Ashwin M. Shah of our office staff was consider
and it was resolved to give him assistance of Rs. 146/- from Seth KRP Stock
Exchange Sarvajanik Fund for college fee of the first term of Second LLB
4. The letter dated 21-8-80 of S/Shri Rasiklal Sarabhai Jhaveri and Pradeep Rasiklal
Jhaveri was read and it was resolved that Shri Pradeep Rasiklal Jhaveri had ceased to
be a partner in the partnership firm of M/s. S. D. Jhaveri from 16-8-80
5. The application for the under mentioned Partnership were considered and approved.
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Name of the Partnership Firm Name of Partners Date of Partnership
M/s. R. P. Shroff & Sons Shri Farodose Nasarwanji Kapadia Shri Pradip Rasiklal Jhaveri
20-5-1980
M/s. Maneklal Somchand Shah Shri Maneklal Somchand Shah Shri Jitendra Maneklal Shah Shri Kirti Maneklal Shah Shri Nitin Maneklal Shah
1-8-1980
6. The Letter dated 29-8-80 of S/Shri Faredoon Nasarwanji Kapadia and Pradip Rasiklal
Jhaveri was read and iit was noted that Shri Foredoon Nasarwanji Kapadia had ceased
to be a partner in the firm of M/s. R. P. Shroff and Sons from 31-8-80
7. The letters of the under mentioned members were read and it was resolved to approve
the permission givrn for doing business as Representative Members as shown below
Nominating Member Representative Member
Shri Sureshchandra Nandlal Shah Shri Anantrai Amerish Parekh
M/s. S. D. Jhaveri M/s. R. P. Shroff & Sons
8. Our letter dated 10-9-80 to Sanjay Maintenance Service regarding entrusting to them
the cleaning and maintenance work of Basement Ground floor, mezzanines floor, and
1 to 12 floors on a monthly remuneration of Rs.4,000/- was noted and that
arrangement was approved
9. Resolved that the Security arrangement for our new building should be made
Permanent Security Services as mentioned in the following draft letter
Permanent Security Services 3/1228, Navjeevan, Lamington Road, Bombay 400 008.
Dear Sir,
Re: Security arrangements at Stock Exchange Towers, Dalal Street, Bombay,
We refer to your letter dated August, 14th, 18th, 21st and 25th 1980 and discussions your
M/s. Bedi and Menon had on the subject above.
3
We hereby confirm that proposal to entrust your firm the security aarengement at our
premises known as “Stock Exchange Towers “ at Dalal Street, Bomaby , with effect
from 22nd September, 1980 on the following terms and conditions –
We are entering the above security arrangement at the above premises purely on trial basis
for period of 3 months in terms of your performance guarantee, During the period we may
closely observe your performance and if we are satisfied, have the option to continue your
service or else we are at liberty to discontinue the same. In case we are satisfied with your
service , the security arrangement will be continue for a further period of nine
moths.Please not that if any time the service is found unsatisfactory, we will give you a
month’s notice terminate the arrangement.
The strength of security personnel to be deployed and your service charge in respect of
each category shall be as under:-
1. Security Officer A Grade Rs.900.00 p.m.
2. Security Supervisor A Grade Rs.600.00 p.m.
3. Security Head Guards A Grade Rs.450.00 p.m.
4. Security Guards A Grade Rs.350.00 p.m.
Rotation ship of 10% will be paid towards overheads supervision, uniforms, E.S.I.S. , P.F.,
Bonus etc.
Security Officer 1 for general shift = 9 A.M. to 6.p.m. on all days except Sunday
Security Supervisors 3 nos. – 1 in each shift on all days – shift timing to be fixed by you and intimated to us.
Security Head Guard 3 Nos. – 1 in each shift on all days to man the Fire Control Room.
Shift timing to fixed and intimated to us.
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Security Guards 21 Nos. – Number in each shift on all days to be decided by you after surveying the various gates and finalized with us.
Total 28
The above rates of monthly remuneration to the various personnel will cover all charges
payable by us to your firm in respect of the full security arrangements as proposed in the
Stock Exchange Towers and your firm will be responsible for all your expenses and
outgoing in this connection including salaries, Leave represents, weekly offs, uniform,
E.S.I.S., P.F., F.P.F., Bonus, Gratuity etc., and other dues, if any, to your personnel and all
other payments and obligations you are required and responsible under the law to make
and bear on account of your personnel from time to time,
The total charges payable to you on the basis of the strength above some to Rs.12, 540/-
per month.
Your firm will be responsible to attend to all formalities in regard to E.S.I.S., P.F. and
other statutory obligations in regard to your personnel including remittances and
submission of contribution cards well time, and you will have to satisfy us that you have
paid these amounts to the department concerned
The posting of guards at various place and the timing thereof will be done by you
according to the importance of the place and you shall intimate to us about these details
from time to time. You will please note that if any additional security guards are required
at any time during the subsistence of the contract, you will arrange the same even at very
short notice, at the rates quoted above.
Personnel posted at site will necessarily be in proper uniforms duty washed and ironed.
Your personnel will have knowledge of fire fighting and routine drill will be done by you
interval of one month.
Before engaging the personnel you will submit their bio data with photograph to us with
sufficient additional nos. so that we have a choice of selection. The Head Guards, and
5
Security guards should not be less than 5 ft. 7 inches and should speak fluent Hindi and
understand and speak tolerable English.
The Stock Exchange will be giving suitable instructions from time to time and such
instructions should be strictly followed. The senior most person in your organizations
should visit the premises regularly once a day for overall supervision. The Security
Officer/Supervisor shall go round all floors every day and see that lobbies and landing are
kept clean and ensure that no posters are posted in the lift lobby areas, passages etc, and
unauthorized activities do not take place. Photography within the building is totally
prohibited.
Once you take over arrangement at the sites, you will open the following Registers to
streamline the security arrangements and also to acquaint the Management of the actual
work done by you and for futures reference:-
I.) Occurrence Register
II.) Incoming Store Register
III.) Outgoing Sore Register
IV.) Key Register with requisite columns
V.) Management Instruction Book
VI.) Attendance Register and Duty Book for your Security personnel
VII.) Any other Register required by the Management
You should ensure that no material either from Stock Exchanges or any other tenant or
Contractors is allowed to go out unless it is supported by gate pass from the concerned
authorized person.
You should ensure that a high standard of hygienic and cleanliness is maintained in the
building.
You will be entirely responsible for ensuring the safety of the Building and materials lying
within and without the Building. You are responsible to compensate to us for any losses,
thefts that may take place. The compensation is full value of the cost availed.
6
Please returns a copy of this letter duly signed by you in taken of your acceptance of the
above terms and conditions.
Thanking You,
Yours Faithfully,
Secretary,
We accept the above terms and conditions
Parament Security Services
10. The letter dated 15-9-80 of Shri H. T. Mehta advocate of Shri C. L. Khanna and the
telegram dated 15-9-80 of Shri S. L. Khanna was read and taken note of.
Sd/- Sd/- A. J. Shah Laldas Jamnadas Secretary President
Date 23-9-80
1
Tuesday, 23-9-1980
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 2.00
P.M. under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned
members of the Board were present:
Seth Laldas Jamnadas Seth Rasiklal Meneklal
Seth V.D. Soude Seth Jayantilal B. Khandwala
Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani
Seth Mathradas Samaldas Seth Prabhudas Liladhar
Seth Arvind Chimanlal Dalal Seth Ashok Kumar G. Fozdar
Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya
Seth Jayant Amerchand Seth Kirtikumar Narbheram Parekh
Seth Bhupendra Champaklal Dalal Seth Ramdas Lallubhai
Government Nominees
Shri. J. G. Gogte
The following business was transacted in the Meeting:
1. The application dated 3-9-1980 of Bai Sitabai, widow of our Late Sepoy Bhiwa
Babajirao was considered and it was resolved to give her assistance of Rs. 300/-
from Seth KRP Stock Exchange Sarvajanik Fund for post – demise ceremonies of
the Late Bhiwa Babajirao.
2. The application dated 23-6-80 of Bai Sulochana Dattaram Kurup was considered
and it was resolved that she should be paid the amount of Rs. 13893.75 being the
accumulated provident fund and gratuity due to our Late Sepoy and her husband
Dattaram Govind.
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3. The application dated 6-9-80 of Shri R. R. Kulkarni was considered and it was
resolved that as he has left the service, the amount of Rs. 394/- accumulated in his
Provident Fund should be paid to him.
4. The applications for loans of the undermentioned members of our office staff
were considered and it was resolved to give them loans as shown against their
respective names:
Shri J. H. Purohit Rs. 2500/-
Shri T. G. Babu Rs. 2500/-
Sepoy Vilas Gyandu Rs. 3000/-
5. The application dated 11-8-80 of the near relatives of the Late Shri Ratilal Jadauji
Vora nominating Shri Bhogilal Jethalal Shah as a member of the Exchange in the
place of the Late Shri Ratilal Jadauji Vora was considered and after interviewing
Shri Bhogilal Jethalal Shah and his recommenders S/Shri Kantilal Bhogilal Shah
and Vinaykant Narbheram it was resolved by 14 votes in favour and none against
to elect Shri Bhogilal Jethalal Shah as a member of the Exchange in the place of
the Late Shri Katilal Jadauji Vora, subject to the Rules and Regulations of the
Exchange.
6. The application dated 21-8-80 of the near relatives of the late Shri Manubhai
Chimanlal Virchand nominating Shri Shyamlal Thakardas Dalal as a member of
the Exchange in the place of the Late Shri Manubhai Chimanlal Virchand was
considered and after interviewing Shri Shyamlal Thakardas Dalal and his
recommenders S/s Dhirajlal Maganlal and Champaklal Jamnadas it was resolved
by 14 votes in favour and none against to elect Shri Shyamlal Thakardas Dalal as
a member of the Exchange in the place of the late Shri Manubhai Chimanlal
Virchand, subject to the Rules and Regulations of the Exchange.
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7. The application dated 1-9-80 of the near relatives of the Shri Arunkumar
Jagmohanlal Rungta nominating Shri Kantilal Mohanlal Shah as a member of the
Exchange in his own place was considered and after interviewing Shri Kantilal
Mohanlal Shah and his recommenders S/Shri Manubhai Mohanlal and
Vinaychandra Narbheram Parekh it was resolved by 14 votes in favour and none
against to elect Shri Kantilal Mohanlal Shah as a member of the Exchange in the
place of Shri Arunkumar Jagmohanlal Rungte, subject to the Rules and
Regulations of the Exchange.
8. The application dated 18-8-80 of the Shri Rameshchandra Trikamlal nominating
Shri Shripal Jain as a member of the Exchange in his own place was considered
and after interviewing Shri Shripal Jain and his recommenders S/Shri Chand
Ratan Bagri it was resolved by 12 votes in favour and 2 against to elect Shri
Shripal Jain as a member of the Exchange in the place of Shri Rameshchandra
Trikamlal, subject to the Rules and Regulations of the Exchange on condition that
he should not do business in the market in his own name for a period of 2 years
and that within one month he should severe his connections with Delhi Stock
Exchange.
Shri Bhupendra Champaklal joined the meeting at this point of time.
9. The Listing applications of the abovementioned Companies were considered and
it was unanimously resolved that subject to the Listing Rules and Regulations as
well as compliance with the usual requirements and such other special
requirements stipulated by us, their below-mentioned securities should be placed
in our list of non – cleared securities traded on the Exchange and their trading lots
should be fixed.
Revathi – CP Equipments Ltd Equity and Preference Shares
Kelvinator of India Ltd Equity
Concast Products Ltd Equity
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Rewa Drugs and Chemicals Ltd Equity
Deccan Fibre Glass Ltd Equity
Ind-Trade Fibre Company Ltd Equity
Paushak Ltd Equity
Tata Engineering & Locomotive Company Ltd 11% Convertible Bonds ‘B’ Series
10. Unanimously resolved that British Burma Petroleum Co. Ltd. has been
amalgamated with Prism Trading Co. Ltd., the shares of British Burma Petroleum
Co. Ltd. should be removed from our list of securities traded on the Exchange.
11. Unanimously resolved that below-mentioned securities should be removed from
our list of securities traded on the Exchange as they have been redeemed
Aditya Mills Ltd Preference Shares
Chemicals & Plastics India Ltd. 9.5% 15000, ‘A’ Preference Shares
12. Unanimously resolved that, as the undermentioned Companies have not yet paid
the Annual Listing fees for the year 1980 and for the additional listing fees for the
year 1979 though repeatedly asked, their securities should be removed from the
list of securities traded on the Exchange, if they do not pay their fees due by them
before 23-10-1980.
1. Andhra Steel Corporation Ltd
2. Behar Hotels Ltd
3. Basant Paper Mills Ltd
4. Estrilla Batteries ltd
5. Ellora paper mills Ltd
6. Gangavati Sugar mills Ltd
7. Kanora Hancock Sanderson Ltd
8. Khandelwal Hermon Electronics Ltd
9. Kumar Bronze Powders ltd
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10. Madras Machinetool Manufacturs Ltd
11. Bharti Crystal Salt Co. Ltd
12. Magnesite and Minerals Ltd
13. New Commercial investment & Trading Co. Ltd
14. North Behar Sugar Mills Ltd
15. Ogle Glass Works Ltd
16. Polson Ltd
17. Regal Papers Ltd
18. Ramacast Ltd
19. Shri Krishna Gyanodaya Sugar Ltd
20. Sika Breweries Ltd
21. Steel and Fasteners Ltd
22. Asian Electronics Ltd
23. Centron Industrial Alliance Ltd
24. Indo National Ltd
25. Jupiter Breweries Industries Ltd
13. The application dated 4-7-80 and 1-1-80 of the officers of our office staff asking
for giving them extra increments and leave travel benefits and medical expenses
in view of the rise in the cost of living expenses since 1-1-1978 have considered
and it was resolved that each of our officers who have been on our staff earlier
than 1-1-1980 should be given one extra increment in their grades from 1-1-1980
and additional increment from 1-1-1981 to such officers other than our secretary
Shri A. J. Shah and the Chief Statistical Officer Shri R. R. Nair.
Further resolved that every officer on our staff should be paid actual medical
expenses from the year 1980, subject to the limit of Rs.400/- p.a. and when going
leave, travel expenses for going out of Bombay, subject to the limit of Rs.400/-
p.a. such expenses will paid every year at the end of year.
6
14. Resolved that, pursuant to the Resolution passed by the Governing Board on 18-
2-71 and 10-8-78 our Secretary Shri A. J. Shah and Chief Statistical Officer Shri
R. R. Nair are paid expenses for using their own motor cars for office work,
which should be increased to Rs.475/- per month and Rs.400/- per month
respectively from 1-1-1981.
Sd/- Sd/- A. J. Shah Laldas Jamnadas Secretary President
Dt: 4-11-1980
The Governing Board has passed the following resolution by circular
“Resolved that on Friday, 7-11-80 our market should be kept open from S.T. 5.15 PM to
6.15 PM for doing Muharat Transactions for Kartik Vikram Samvat 2037, instead of
from S.T. 12 to 2 PM.
Further resolved that the market should be completely closed for all kinds of business on
Thursday 6-11-80 on account of the holiday of Kali Chaudas on that day.”
Sd/- Sd/- A. J. Shah Laldas Jamnadas Secretary President Dt: 4-11-80
1
Tuesday: 11-11-80
A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00
p.m. under the Chairmanship of Seth Laldas Jmnadas wherein the under mentioned
members of the Board were present:
Seth laldas Jmnadas Seth Bhupendra Champaklal Dalal
Seth V. D. Sonde Seth Jayantilal R. Khandwala
Seth Mathradas Samaldas Seth Navinchandra Chhaganlal Kampani
Seth Jayantilal Chhotalal Seth Ashokkumar G. Fozdar
Seth Jayant Amerchand Seth Purshottam Gopiram Ruia
Seth Rasiklal Maneklal Seth Ramdas Lallubhai
Government Nominees Shri. J. G. Gogte
The following business was transacted in the meeting:
1. The application for partnership of S/Shri Venushankar Damodar Vyas and Lalitkant
Venulal Vyas dated 5-11-80 was considered and it was resolved to approve the
partnership between them under the name of M/s. V. D. Vyas with effect from 14-
11-80
2. The application dated 10-10-80 of the close relatives of the late Shri. Vrajlal
Lallubhai nominating Shri Vasantlal Vrajlal Dalal as a member of the Exchange in
the place of the late Shri Vrajlal Lallubai was considered and after interviewing Shri
Vasanlal Vrajlal Dalal and his recommenders S/Shri Mannubhai Maneklal and
Vinaychandra Narbheram Parekh it was resolved by 11 votes of in favour and none
against to elect Shri Vasantlal Vrajlal as a member of the Exchange on the place of
late Shri Vrajlal Lallubhai, subject to the Rules and Regulations of the Exchange.
3. The Listing application of the under mentioned Companies were considerd and it
was unanimously resolved that subject to the Rules and Regulations of the
Exchange as well as compliance with the usual requirement and such other special
requirement as may be stipulated by us, the below mentioned securities should be
placed in our list of securities traded on the Exchange and their trading should be
fixed
I.) Banswar Textile Mills Ltd Equity
II.) Alkyal Amines Chemicals Ltd. Equity
III.) Gangappa Papers Mills Ltd. Equity
Sd/- Sd/- A. J. Shah Seth Laldas Jmnadas Secretary President
Date: 5-12-80
1
Friday, 5-12-80
A meeting of the Governing Board of the Stock Exchange was held today at
ST 3:00 p.m. under the Chairmanship of Seth Laldas Jamnadas wherein the
undermentioned members of the Board were present;
Seth Laldas Jmnadas Seth Bhupendra Champaklal Dalal
Seth V. D. Sonde Seth Jayntilal R. khandwala
Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani
Seth Mathradas Samaldas Seth Ashok kumar G. Fozdar
Seth Arvind Chimanlal Dalal Seth Purshottam Gopiram Ruia
Seth Jasvantlal Chhotalal Seth Kirtikumar Narbheram Parekh
Seth Rasiklal Maneklal Seth Ramdas Lallubhai
Government Nominee
Shri J G Gogte
The following business was transacted in the meeting.
1. The Chairman informed the Board that in the settlement to be carried
out on 18-11-1980 there were mistakes in many kinds of shares in the
number of shares to be delivered and the number of shares to be
taken delving by the members and have many auctions have to be
made. Looking into only the list of century shares there is a
discrepancy of about 2500 shares and if these are auctioned the Stock
Exchange will have to bear a loss of more than Rs. One Lakh because
of mistakes in the List submitted by the members auction in large
number have been required to be made for a long time and the
auction loss has run into lacs of rupees. In the case of some few
members in whose list discrepancies are frequently found they were
called and asked to submit check list and mistakes of 1100-1200
shares were corrected and mistakes of 1300-1400 shares still remain.
2
For that list have been called from the members but have not been
received yet because of non co operation of their staff. It is necessary
to take steps to get rid of the causes of their non co operation and
receive the list urgently so that the remaining discrepancies can be
found out. In the meantime the market should be kept closed. Heavy
penalty should be imposed on those members in whose cases mistakes
have already been found and have been committing mistakes
frequently. However penalties should be imposed on those members
whose mistakes are found out after their list is received now hereafter.
This it is necessary so that members may be more careful and large
mistakes are not found out from their lists.
Thereafter Board deliberated on what the Chairman had said as above
and it was resolved that the undermentioned members should be
penalized at the rate of Rs. 50/- per equity shares for the
mistakes found in their list for the settlement for 18-11-1980 the
total amount of penalty by each of the consent member has been
shown against their name;
M/s. K Motiram Vakil Rs. 31,500/-
M/s. Kantilal Chhaganlal Rs. 23,500/-
M/s. Jaykishan Bohra Rs. 7750/-
Further resolved that if discrepancies are found now in any of the list
called for from the members by notice No. 2687/80 dated 29-11-1980,
the concerned members should be charged penalty of Rs. 70/- per
share these over and above the auction loss and if list have to be
called in the settlements following the settlement of 18-11-1980
because of discrepancies and mistakes are found out therefrom more
heavier penalty should be charged from that mentioned above.
2. Resolved that a notice as under should be issued;
3
“All the members are hereby informed that in the settlement of 18-01-
1980 by red and Blacks forms in the case of the shares of Country
Eka, JK Synthetics and Nirlon there are discrepancies in the
numbers of shares to be delivered and of the shares to be taken
delivering of. The members should therefore should prefer lists of
these share in forms printed in red ink and send it the Secretary’s
office by 2:00 p.m. on Monday, 8-12-1980. In these lists clearing
numbers of the members from/to whom such shares have been
purchased/ sold and the members of such shares should be filled up in
English. It is not necessary to fill up the precise of the shares. But
after deducting the total number of shares purchase/sold from the
total number of shares of the same kind sold/purchase from/to the
same members, the number of only the not purchase/sold of the
shares should be filled. For example, if 25 Nirlon shares have been
sold to brokers ‘A’ and 20 Nirlon shares have been purchased from
him, then after making deduction sale of only 5 Nirlon Shares should
be shown against his name. If any member fails to submit his
abovementioned list in time rightly filled up as explained above, a
penalty of Rs. 1001/- will be released from him by debiting his
account.
Comparison memos relating to the transactions shown in shares list
will be given to the members on Tuesday, 9-12-1980. The members
should compare those transactions with their opposite parties and
after settling the obligations in the usual members as is done in the
case of objections in other shares, should give back to the Secretary’s
office on Thursday, 11-12-1980. If any member fails to return the
comparison memos in time after correcting them as above, then as
mentioned in the above notice in addition to the auction loss of the
shares in objection, penalty of the equal amount of the loss will be
released from him and harsh action will be taken against him.
4
3. After taking note of the present market situation that has developed
because of the very big auction necessitated by big mistakes in the
memners lists for 18-11-1980 settlement, its risk delaying tactics on
the part of members’ staff in sending such lists called from finding out
mistakes. Resolved that our market should be kept closed for business
on Saturday, 6-12-1980 Monday, 8-12-1980 and Tuesday 9-12-1980.
Sd/- Sd/- A J Shah Laldas Jamnadas Secretary President
Date: 11-12-1980
1
Thursday: 11-12-80
A meeting of the Governing Board of the Stock Exchange was held on today at S.T. 4.00
p.m. under the Chairmanship of the Seth Laldas Jmnadas, wherein the under mentioned
members of the Board were present:
Seth Laldas Jmnadas Seth Jayantilal R. Khandwala
Seth V. D. Sonde Seth Navinchandra Chhaganlal Kampani
Seth Vasantlal Kantilal Shah Seth Prabhudas Lilladhar
Seth Mathradas Samaldas Seth Ashok kumar G. Fozdar
Seth Arvind Chimanlal Dalal Seth Purshottam Gopiram Ruia
Seth Jasvantlal Chhotalal Seth Kirtikumar Narbheram Parekh
Seth Ramdas Lallubhai
Government Nominees
Shri. M. K. Chawla
The following Business was transacted in the meeting:
1. The present market situation was considered
2. The Chairman gave a brief account of and acquainted the Board with the business
considered in the meeting of the standing committee of Presidents of recognized Stock
Exchanges hold in Hyderabad on 28th and 29th November, 1980.
Sd/- Sd/- A. J. Shah V. K. Shah Secretary President
Date: 16/12/80
1
Thursday, 16-12-80 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 p.m. under the Chairmanship of Seth Vasantlal kantilal Shah, wherein the under mentioned members of the Board were present : Seth Vasantlal Kantilal Shah Seth Jayantilal R. khandwala
Seth V. D. Sonde Seth Navinchandra Chhaganlal Kampani
Seth Mathradas Samaldas Seth Prabhudas Lilladhar
Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar
Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya
Seth Rasiklal Maneklal Seth Kirtikumar Narbheram Parekh
Seth Ramdas Lallubhai
Government Nominees:
1. Shri M.R. Chawla 2. Shri G. G. Gogte
The following business was transacted at the Meeting: 1 The application dated 12-12-80 of our office staff member Shri Ashwin M. Shah
was considered and it was resolved to give him college fee of Rs. 142/- for the Second Term of the Second L.L.B. from Seth KRP Shroff Exchange Sarvajanik Fund.
2. The application dated 11-11-80 of our Sepoy, Vilas Gyandere was considered and it
was resolved to give him College fee of Rs. 166/- for the First Term of Forst L.L.B. from Seth KRP Shroff Exchange Sarvajanik Fund.
3. The application dated 8-12-80 of our office Sepoy, Raghunath Krishnaji was
considered and it was resolved to give him a loan of Rs. 4000/- 4. The application dated 11-11-80 of Shri Vasantlal Vrajlal and Shri Kantalal Mohanlal
Shah for partnership was considered and it was resolved to approve their partnership under the Firm name of M/s V. Vrajlal Lallubhai with effect from 14-11-80.
5. The letters dated 13-11-80 of Shri Jayant Amarchand and Bhogilal Jethalal Shah
were read and it was resolved to approve the permission given to Shri Bhogilal Jethalal Shah to do business as a Representative Member of Shri Jayant Amerchand.
6. The Association holidays for the year 1981 were fixed. 7. The letter dated 12-12-80 of M/s Mannbhai & Co. was read and it was resolved that
the office that has been given or the office that we gave to them hereafter should be transferred into their name and its Rent Note should be issued to them.
2
8. The application dated 23-10-80 of Shri Prabhakar Shrilal Yagnik nominating Shri Kirtikumar Fulchand Vora as a member of the exchange in his own place was considered and after interviewing Shri Kirtikumar Fulchand and his recommender S/Shri Ramaniklal Nanalal Shah and Chhotalal Devchand it was resolved by 10 votes in favour and one against to elect Shri Kirtikumar Fulchand Vora as a member of the Exchange in the place of Shri Pratikar Sharilal Yagnik, subject to the Rules and Regulations of the Exchange, on condition that he will not do business in the market in his own name for a period of two years.
9. The application dated 30-10-1980 of Shri Champaklal Babubhai Marfatia
nominating Shri Ram Champaklal Marfatia as a member of the Exchange in his own place was considered and after interviewing him and his recommender S/Shri B H Zaveri and K C Vakharia , it was resolved by 11 votes in favour and none against to elect Shri Ram as a member of the exchange in the place of Shri Champaklal Babubhai Marfatia, subject to the rules and bye laws of the exchange.
10. The application dated 24-11-1980 of Shri Durgashankar Udayram Shukla
nominating Shri Maheshkumar Durgashankar Shukla as a member of the exchange in his own place was considered and after interviewing Shri Maheshkumar Durgashankar Shukla and his recommender Shri Vipin Chinubhai it was resolved by 11 votes in his favour and none against to elect Shri Maheshkumar Durgashankar Shukla as a member of the Exchange in the place of Shri Durgashankar Udayram Shukla, subject to the Rules and Regulations of the Exchange.
Shri Bhupendra Champaklal came and joined the meeting at this moment of
time. 11. As the undermentioned companies have paid the annual listing fees for the year
1979, it was unanimously resolved to re admit their securities to our list of securities traded on the Exchange.
i.) New commercial Trading and Investment Co. Ltd. ii.) Khandelwal Harmann Electronics Ltd. iii.) Basant Paper Mills Ltd.
12. The listing applications of the undermentioned companies were considered and it
was unanimously resolved that subject to the Listing Rules and Regulations as well as compliance with the usual requirements and other special requirements stipulated by us below mentioned securities should be placed in list of securities traded on the Exchange and their trading lots should be fixed:
Mahi Trading and commence Ltd. Equity Shiva Papers Mills limited. Equity Rama Filters Equity Karni Manek Trading Co. Ltd. Equity Shree Andhra Prabha Oil and Chemical Industries Ltd. Equity L D textiles Industries Ltd. Equity Kankaria Chemicals Ltd. Equity
Jayakwadi Pulp and Paper Mills Ltd. Equity&11%Prefarance Shares
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13. The letter dated 21-11-1980 and 5-12-1980 of the Scottish Assam (India) Ltd. Tube
Suppliers Limited respectively were considered and it was unanimously resolved to remove their securities from our list of securities traded on the Exchange with effect from 1-1-1981.
14. The letter dated 25-11-1980 of the Vietora Mills Limited was read out and it was
unanimously resolved to remove its 5.72% Redeemable Cumulative Preference shares from our list of securities trade on the Exchange as they have been redeemed.
15. Resolved that our computation equipment should be sold to the Stock Exchange
Foundation at a reasonable price. 16. Resolved that a sum of Rs. 1,50,000/- should be given from the Stock Exchange
Education and Reserve Securities Fund to the Stock Exchange Foundation, which has been recognised under section 35(1)(3) of the Income Tax Act, on the condition that it will be considered as its corpus.
17. Taking into consideration the manyfold increase in paper price and printing cost
during the last few years resolved that the Daily Official List which was being given free of cost to the members of the exchange one copy each till now should be discontinued from 1-1-1981 and instead every member will be entitled to get one copy of the Daily Officials List at a concession annual subscription of Rs. 200/- instead of the regular annual subscription of Rs. 300/- p.a.
18. Resolved that remisier badges should be cancelled and issue of remisier badges
should be stopped with effect from 1-1-1981. Sd/- Sd/- A J Shah Laldas Jamnadas Secretary President
Date 15-01-1981
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