1993 - The Company was incorporated as Khandwala Securities Private
Limited on February 9. The Company later became a deemed
limited company on July 1, 1995 under the provisions of
43(1A) of the Companies Act, 1956.
- The Company was promoted in February, by M/s. Jayantilal
Khandwala & Sons and Mr. Samir S. Doshi.
- In July, the Company was accredited by SEBI as a category I
Merchant Banker and commenced offering a diverse range of
- The Company obtained membership of the National Stock
both in the wholesale debt and capital market segments and
also obtained Sponsor Membership of the Over The Counter
1994 - The Equity shares of the Company of face value of Rs 100 each
were subdivided into equity shares of Rs 10 each on May 10.
issued, subscribed & paid-up capital is divided into
No. of Equity Shares of Rs 10 each, fully paid-up which
787,500 No. of Equity Shares of Rs 10 each, issued as fully
paid-up bonus shares.
- The Company has one wholly owned subsidiary - Khandwala
Limited, which is engaged in the business of stock broking.
1995 - The Company has issued and allotted 1,40,000 - 13.5%
Redeemable Preference Shares of face value of Rs 100 each for
aggregate value of Rs 140 lacs. The preference shares are
redeemable at par at the end of 3 years from the date of
1997 - The credit rating of FA+ assigned to the FD programme of the
Company was re-affirmed by CRISIL during the year.
1998 - The Company is constantly reviewing its positioning in this
dynamic environment with the objective of locking into high
growth and potentially profitable opportunities.
- The Company is not engaged in any manufacturing activity and
therefore, there are no particulars to be disclosed under the
Companies (Disclosure of Particulars in the Report of Board
Directors) Rules, 1988 relating to conservation of energy or
- The Company has, however, accepted other regulated deposits,
namely, Inter-Corporate Deposit (ICD), as per NBFC (RBI)
Directions, 1977 and has repaid or renewed the same as the
may be, on due dates and no amount remains unclaimed or unpaid
on the last date of the financial year.
1999 - The Union Budget for the fiscal year 1999-2000, abolished
duty on secondary market debt transactions, routed through a
- On July 8, was a red letter day in the history of the Indian
markets with the introduction of interest rate swaps and
rate agreements, derivative tools in the fixed income
- Khandwala Securities Ltd (KSL), one of the oldest broking
on the BSE, is planning to set up an Asset Management
The AMC will be launching about 3 schemes initially. These
include growth fund, balanced fund and pure debt fund.
- KSL currently has over 3,500 domestic and 700 overseas
with over Rs 1,700 crore of funds under management.
- During the year the company redeemed 17.5% Secured
Non-Convertible Debentures aggregating Rs. 5.201 million.
company also redeemed 13.5% Cumulative Redeemable Preference
Shares worth Rs. 14.00 million.
- The company has issued 12.5% Cumulative Redeemable Preference
Share worth Rs. 5.00 million and 12% Cumulative Redeemable
Preference Shares worth Rs. 14.00 million.
-The Company appointed Mr. S. M. Parande as new Chairman of the
-The Company has signed an agreement in USA with the US based
Company, Daulton Capital Corporation for raising of funds on their
project cost equivalent US $ 50 million for a gold mining project
based in Australia.