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
PRESENT BUSINESS OF THE COMPANY
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:
1. INVESTMENT BANKING
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.
2. LOANS AND ADVANCES
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
The company has earned an income of Rs. 1.07 lacs by a of interest on
loans for the period ending 31St December 1995.
3. MISCELLANEOUS ACTIVITIES
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.
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