Rathi Share & Stock Brokers Limited was incorporated as a Pubic
Limited Company on 29th November,1994 and obtained certificate of
commencement of business on 2nd December,1994 with an object to take
over the running
business of M/s Rathi Bros - a partnership concern.
The Company was incorporated with a view to reflect the broad based
activities in the field of securities and financial services related
activities. To expedite the Stock Broking Buisiness and proposed
activities, the Company took over the running buisiness of M/s Rathi
Bros - a partnership concern with complete infrastructure and
exiting business as on 22.02.1995 (Closing hours). Between 2.12.94
and 22.02.95 and prior to the acquisition of the firm, the Company
earned a net profit of Rs. 0.22 lacs on purchase and sale of
M/s Rathi Bros, the partnership firm was promoted by Shri.Hari
Narayan Rathi and Shri Kamal Narayan Rathi. The firm was engaged in
the business of providing Underwriting assistance, lnvestment advice,
Share broking consultancy in the Primary & Secondary markets. The
Company has been admitted as Corporate Member of The Hyderabad Stock
Exchange Ltd., Hyderabad and the same has been communicated by the
Stock Exchange vide their letter HSE:ADMN:95:705 dated 31.01.1995 and
also registered by SEBI vide their certificate no.INB- 060695539 dated
23rd February 1995.
Shri.Hari Narayan Rathi and Shri.Kamal Narayan Rathi are the partners
of the M/s Rathi Bros - a partnership concern. At the time of take
over of the partnership firm, the Company has acquired the Membership
Card of Shri.Karmal Narayan Rathi for a consideration of Rs.65.00 lacs
entered in to agreement of sale dated 31.01.1995.
Some of the SaiIent Features of the agreement of Sale of HSE
Membership Card are as folIows
1. The amount to be paid in Cash within one month from the date of
2. The seller assigns in favour of the Purchaser all the
rights,titles and benefits of the Membership of The Hyderabad Stock
Exchange Ltd. The Company has recently applied for OTCEl dealership
vide loner dated 30.01.1995 to deal in OTC Exchange of India.
--Registered Office of the Company has been shifted rom 4-5-173,
Hasmath Gunj, Sultan Bazar, Hyderabad - 500095 to 6-3-650, 218, 2nd
Floor, Maheshwari Chambers, Somajiguda, Hyderabad 500082.