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About US |
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Overview
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The Government of India in view of its planned deregulation
of the oil and gobalisation of the economy, decided to disinvest 33.58% of
its total equity holding of 59.58% in IBP Co. Limited to a strategic partner
with management control. In consequence to such disinvestment, the
shareholding of IBP Co. Limited in its erstwhile subsidiary, Balmer Lawrie &
Co. Limited, was decided to be de-merged in favour of Balmer Lawrie
Investments Limited, which was incorporated on 20 September 2001 under the
Companies Act, 1956, in which the President of India holds 59.67% of its
total paid up equity capital.
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| I |
Stipulation of the Reserve Bank of India |
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Balmer Lawrie
Investments Limited is also a non-banking financial Company as defined under
section 45-I(f) of the Reserve Bank of India Act, 1934. On the basis of
application given by the Company the RBI in exercise of their power
conferred under section 45-NC of the Reserve Bank of India Act, 1934, has
exempted the Company to comply with the formalities of registration and
minimum net owned funds subject to the Compliance of the following
provisions:
a.
The
Company shall not conduct any business of financial institution as specified
in section 45-I(c) and (f) of the RBI Act, 1934, other than acquiring shares
of Balmer Lawrie & Co. Ltd., from IBP Co. Limited and subsequent
disinvestment of these shares;
b.
The Company
shall not deal with or transact in any other securities;
c.
The Company
shall divest its shareholding and wind up its business on completion of
disinvestment of shares of Balmer Lawrie & Co. Ltd & the exemption
granted hereunder stands cancelled in the event breach of any of the above
conditions by the Company
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| II |
Business: |
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The Company does not
carry on any business except to hold 1,00,64,700 equity shares of Rs.10/-
each of Balmer Lawrie & Co. Ltd. |
| III |
Registered Office: |
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The Registered Office of
the Company is situated in the State of West Bengal. The registered and only
office of the Company is situated at the following address:
21 Netaji Subhas Road,
Kolkata,
West Bengal
Pin code – 700
001. |
| IV |
Administrative control and the Board & Committee of Directors |
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Balmer Lawrie Investments
Limited, is presently under the administrative control of the Ministry of
Petroleum & Natural Gas, Government of India.
The total
strength of its Board is five and all are non-executive and out of which two
are independent in terms of listing requirement. The Company has three
independent Committee of Directors, namely Audit Committee, Investors
Grievance Committee & Committee for Share transfer, transmission etc.
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| V |
Subsidiary Companies: |
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The Company as on the
date of its reporting has two subsidiaries namely, Balmer Lawrie & Co. Ltd.,
and Balmer Lawrie (U.K.) Ltd (since it is the subsidiary of Balmer Lawrie &
Co. Ltd.).
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| VI |
Capital structure,
Authorised and the paid up capital: |
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The capital structure as
on the date of reporting:
Authorised share capital:
Rs.25,00,00,000/- (Rupees
Twenty Five crore) divided into 2,50,00,000 Equity shares of Rs.10/- each.
Issued and subscribed
capital of the Company is Rs.22,19,72,690/- (Rupees Twenty Two crore
Nineteen lakhs Seventy Two thousand Six Hundred Ninety only) divided into
2,21,97,269 equity shares of Rs.10/- each.
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| VII
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Listing of the Equity
shares |
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The Equity shares of
the Company are under compulsory demat mode and the shares are presently
listed in two Stock Exchanges across the country, viz., Calcutta & Bombay
Stock Exchange
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