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Ocean Infrastructure > Company History > Finance - General > Company History of Ocean Infrastructure - BSE: 532086, NSE: N.A
Ocean Infrastructure
BSE: 532086|ISIN: INE789C01016|SECTOR: Finance - General
Ocean Infrastructure is not traded in the last 30 days
Ocean Infrastructure is not listed on NSE
Company History - Ocean Infrastructure
SKS Securities Ltd. was originally incorporated by promoters Mr. Prem
 Sukh Das Bharech, Mr. Dilip Kumar Sen, Shri Sita Ram Agarwal, Shri
 Ram Poddar, Shri Ganesh Narayan Bagaria,Shri Vijay Kumar Sharma, Shri
 Jay Ramchandra Thakur on 27th July, 1981, under companies Act, 1956,
 as Baidyanath Mercantiles Ltd. The Company was acquired by the
 promoter Shri Arvind Saraf & his associates in year 1983 by complying
 with all the legal formalities. The controlling rights were acquired
 by purchasing equity shares of the company at the market price.  The
 Company's name was changed from Baidyanath Mercantiles Ltd. to SKS
 Securities Ltd. w.e.f. 19.4.95.
 The registered office of the Company is located at Calcutta. The
 Company is engaged in Fund based activities like Investments and
 corporate lending.
 The Company is presently engaged in Fund based activities like 
 Investments and Corporate lending. It is having its registered office
 at Calcutta and branches at Bombay and New Delhi. Brief particulars of
 the operations of the company are given here below:
 The Company is carrying Investment banking activities like investment
 in shares & securities. Investment Banking income comprises interest
 /dividend earned on investments viz Shares & Debentures etc., and
 Profit or Capital gain on the sale of securities.  The company is
 having the added advantage of in house research & data bank. The
 Company has all the infrastructure required for in-house research
 like on-line computer net work, fax & telex facility, E-Mail
 facility. The Company has professionals to carry out Equity research
 and compile Data Bank. Mr. Anil Jain, CA, CS and Mrs. Manisha
 Subramanium, MBA have been entrusted with of job of compilation of
 Data Bank. The Company has investments aggregating Rs. 7.70 lacs as
 on 31.12.95. The company has earned an income of Rs. 4.42 lacs on its
 investments for the period ending 31st December 1995.
 The company is engaged in providing loans and advances to small and
 medium corporates. The company proposes to deploy more funds towards
 corporate loans and advances/bill discounting. Loans and advances in
 the form of refinance under Bill Discounting Scheme and inter
 corporate Deposits to blue chip companies are envisaged.
 The Company has provided Loans & Advances aggregating Rs. 19.77 lacs
 as on 31.12.95, out of which Rs. 11.20 lacs has been provided as loan
 to SKS Global Ltd., Rs. 0.02 lacs to Hindustan Storage and
 Distribution Company Ltd., and Rs.3.95 lacs to SKS Ltd., its
 Associate concerns.
 The company has earned an income of Rs. 1.07 lacs by a of interest on
 loans for the period ending 31St December 1995.
 The Miscellaneous income from Cars on hire and other activities for
 the years 1992-93, 1993-94 and 1994-95 was Rs. 2.00 lacs, Rs. 1.78
 Lacs & Rs. 8.35 lacs respectively. The Company has earned an income
 of Rs. 6.85 lacs for the period ending 31st December 1995.
 The Company does not have any subsidiary as of today. However the
 company proposes to make its group company, SKS Finance Ltd., as its
 subsidiary to carry out NSE operations. The Company is in the process
 of applying to the Central Government for acquiring 100% stake in the
 The whole process shall take nearly three months time. It is proposed
 to deploy a sum of Rs. 105 lacs towards the capital of the above
 company. Out of these Rs. 105 lacs,Rs. 75 lacs would be for deposit,
 Rs. 5 lacs would be utilised for acquiring computer terminals, dish
 antennae and other related infrastructure, Rs. 5 lacs would be for
 margin for Bank Guarantee of Rs. 20 lacs and the remaining would be
 utilised as working capital.
 Till the time the necessary approvals are obtained from NSE, this
 money would be deployed in short term instruments i.e. Bill
 Discounting, Intercorporate Deposits, and Investments.
 -Ocean Infrastructure bags Rs 800 million Retailing Project
 -Ocean Infrastructure diversification into entertainment media
Source : Dion Global Solutions Limited
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