NOTICE
NOTICE is hereby given that the 77th
Annual General Meeting of the members of the The Calcutta Stock Exchange Association
Limited will be held at the Registered office of the Association at No.7, Lyons Range,
Calcutta-700 001, on Tuesday, 26th September, 2000 at 4 P.M. to transact the following
business :-
ORDINARY
BUSINESS :
i) To consider and
adopt the accounts of the Association for the financial year ended 31st March, 2000, the
Balance Sheet as at that date and Reports of the Members of the Committee & Auditors
thereon;
ii) To appoint Auditors for the year
ended 31st march, 2001 and to fix their remuneration;
iii)
To elect members of the Committee in places of those who retire by rotation;
SPECIAL BUSINESS :
To consider and, if thought fit, to pass
with or without modifications, the following resolutions as special resolutions :
A.
"RESOLVED THAT pursuant to Section 31 and other applicable provisions of the
Companies Act, 1956, if any, the Articles of Association of the The Calcutta Stock
Exchange Association Limited be amended in the following manner :
a) A new Article 5(8) be added after the
existing Article 5(7) :
5(8)(i) When a Company
constituted by more than one member of the Exchange is admitted as a corporate member of
the Exchange in place of such member or a corporate member of the Exchange acquires more
than one share in accordance with and subject to fulfillment of all other applicable
Bye-laws and Regulations of the Exchange including provisions relating to admission of new
members, such a corporate 'member will be known as a Composite Corporate Member and the
membership right(s) held by the Composite Corporate Member will be known as Component
Membership/s.
(ii) A Composite
Corporate Member shall fulfill all eligibility criteria for admission to membership and
for contribution of membership as is applicable to corporate members of the Exchange and
also such other criteria as the Exchange or Securities and Exchange Board of India may
prescribe from time to time.
(iii) A
Composite Corporate Member shall not hold more than such number of shares as may be
decided by the Committee of the Exchange from time to time.
(iv) The
Composite Members shall pay the entrance fee, admission fee, annual subscription and fees
payable to SEBI and furnish membership security in respect of each component membership.
(v) The
Composite Corporate member shall maintain the base minimum capital in respect of each
Component Membership, in accordance with and subject to the other provisions of the
Bye-laws and Regulations and such conditions as the Committee of the Exchange may from
time to time stipulate.
(vi) The
networth of the Composite Corporate member shall be computed in the manner prescribed by
the Securities and Exchange Board of India and the Committee of the Exchange and no value
shall be assigned to the Component Membership for computing the networth of the Composite
Corporate Member.
(vii) The
Composite Corporate Member shallhave only one trading right and only one representative
member on the Committee or anyStanding Sub-Committee of the Exchange for all the Component
Membership/s of the CompositeCorporate Member in accordance with the Bye-Laws and
Regulations of the Exchange.
(viii) A
Composite Corporate Member shall be entitled to have as many voting rights as the number
of Component Memberships of the Composite Corporate Member at the meeting of the members
of the Exchange.
(ix) A Composite
Corporate Member may resign from the membership right associated with any of its Component
Membership only after a period of two years from the date of the acquisition of that
Component Membership by the Composite Corporate Member. All the liabilities, if any,
relating to the Component Membership in respect of which the Composite Corporate Member
has resigned will continue to be borne by Composite Corporate Member.
(x) If a
Composite Corporate Member desires to resign from its Component Membership/s, the
Composite Corporate Member may, in accordance with and subject to the other provisions of
Bye-laws and Regulations and such conditions as the Committee of the Exchange may from
time to time stipulate and the Composite Corporate Member may continue in respect of the
remaining Component Membership/s, if any.
(xi) The
Composite Corporate Member shall maintain only one set of books of account for all the
Component Memberships.
(xii) Any action
by the Securities and Exchange Board of India, the Exchange or any Committee of the
Exchange or official of the Exchange against the Composite Corporate Member whether by way
of censure, warning, fine, suspension, expulsion, default or withdrawal, suspension or
limitation of membership rights or otherwise shall operate against all the Component
Memberships of the Composite Corporate Member.
Clarification : Without prejudice to the generality of clause (xii) it is
clarified that on declaration of default or expulsion of a Composite Corporate Member for
any reason whatsoever, the Composite Corporate Member shall cease to be a member of the
Exchange in respect of all its Component Memberships.
(xiii) If a
Composite Corporate Member is disentitled to or disqualified from continuing as a member
of the Exchange for any reason, the Composite Corporate Member shall cease to be a member
of the Exchange in respect of all the Component Memberships.
(xiv) A
Composite Corporate Member shall also be entitled to all other rights or privileges and
shall be liable to pay any amount to the Exchange or discharge liability or obligation to
the Exchange as now applicable/available to an ordinary member notwithstanding non-
stipulation of the same in the Bye-laws and Regulations of the Exchange, subject however
that such rights, privileges, obligations and liabilities to a Composite Corporate Member
shall be in proportion to its Component Memberships.
(b) The existing
Articles 25A(e) and 25A(ee) be deleted and the existing Article 25A(f), 25A(g) and 25A(h)
be renumbered as 25A(e), 25A(f) and 25A(g)
respectively.
(c) The first four lines at the beginning of
the Article 29 be deleted and in place the following be substituted :
The Committee shall have absolute power to
expel or suspend any member or any authorised assistant or impose fine as may be deemed
fit upon any member or any authorised assistant in any of the event following:
(d) The existing
Article 45 be deleted and in place the following be substituted as Article 45:
45. "The Committee
shall not register any transfer of shares to any person other than a member or a candidate
for membership who has been duly elected as eligible for membership under the provision of
Article 5 hereof and has paid the full amount of any entrance fee/charges and/or such
other sum as may be prescribed by the Committee from to time and the Committee may refuse
to register any transfer of shares to an existing member or may impose such conditions in
respect of any such transfer as they may see fit."
(e) In the first
para of Article 100(13) the following sentence "and/or in first debentures or
cumulative redeemable preference shares of Joint Stock Companies" be substituted with
the following sentence.
"And/or in any other form or mode of
investment or deposit as may be prescribed under the Income Tax Act, 1961, and/or Indian
Trust Amendment Act, 1908 and 1916 and/or in gilt edged funds and/or..."
(f) The existing
Article 101(1)(a)(ii) and 101(1)(a)(iii) be deleted and in place the following be
substituted as Article 101 (1)(a)(ii) :
101(1)(a)(ii) The Arbitration Sub-Committee shall consist of such members not
having less than three and not having more than five as the Committee may from time to
time determine, in addition to the President or in his absence the Vice-President and the
Executive Director who are ex-officio members thereof by virtue of the provisions of the
Articles. The Arbitration Sub-Committee may in its sole discretion appoint a Sole
Arbitrator or three or more Arbitrators constituting the Arbitral Tribunal provided
however that the number of Arbitrators constituting the Arbitral Tribunal shall always not
be an even number.
"FURTHER RESOLVED THAT the Committee of the Exchange be authorised to amend
the aforesaid Articles as per approval received from SEBI."
B.
Special Resolution under Section 81(1A) of The Companies Act, 1956
"RESOLVED THAT pursuant to Section
81(1A) and all other applicable provisions of the Companies Act, 1956 and subject to such
compliance of eligibility criteria for membership of the Association as per Articles,
Bye-laws and Regulations of the Exchange and relevant SEBI guidelines and such other
conditions as may be laid down under any other law, rules, regulations and guidelines in
this behalf, consent of the Association be and is hereby accorded to the Committee to
offer, issue and allot all or any of the balance 12 unissued shares of Rs. 250/- each in
the Share Capital of the Association at a time or from time to time to such person or
financial institutions and other bodies corporate including subsidiaries of Regional Stock
Exchanges and on such terms and conditions including issuing such shares at such amount
per share as the Committee of the Exchange, may think fit and proper from time to time
notwithstanding that such person or persons are on the date of offer, issue or allotment
members of the Stock Exchange or not."
Calcutta , Dated
2nd September, 2000
P.K.Ray, Secretary
The Calcutta Stock Exchange Association Ltd
7, Lyons Range , Calcutta - 700 001
NOTES :
1. The relative explanatory statement is
pursuant to Section 173 of the Companies Act, 1956 requiring special business are annexed
hereto.
2. The Register of members and share transfer
books of the Association will remain closed from 25th September, 2000 to 26th September,
2000 (both days inclusive).
3. Annexures to Notice
The Explanatory Statement required section
173 of the Companies Act, 1956 for Special Business:
Item
No. A
The Exchange has been examining to amend
its Articles of Association for facilitating bringing the same in tune with the existing
guidelines and statutory modifications as on date. Accordingly, various amendments to the
Articles of Association have been proposed in the Resolution which are considered
necessary and expedient for inter alia the following reasons:
Amendment
No. (a)
The facility of Composite Corporate Membership was not provided for in the existing
Articles of Association of the Exchange. It is, therefore, considered necessary, fit and
expedient that comprehensive amendments to the Articles be made so that such facility is
included and represented in the Articles of Association of the Exchange.
Amendment No. (b)
Existing Articles 25A(e) and 25A(ee) in
the Articles of Association of the Exchange have become redundant in view of omission of
Rule 8(4A) of the SCR Rules by Notification No. 2/3/SE-93 dated 13th October, 1994.
Accordingly the said Articles are proposed to be deleted from the Articles of Association
of the Exchange and the Other Articles renumbered as a consequence thereto.
Amendment
No.(c)
The Securities and Exchange Board of India
vide its letter No.SMD/COMP/CSE/10380/2000 dated June 28, 2000 suggested for amending the
Articles of Association of the Exchange to remove the cap of Rs. 25,000/- on penalty.
Hence the said amendment to the Article is proposed.
Amendment
No. (d)
The said amendment is proposed to bring
the said Article in tune with the applicable provisions and other Articles of the Exchange
for correct and harmonious interpretation of the existing Articles without any ambiguity.
Amendment
No. (e)
The said amendment is proposed to bring
the said Article in tune with the provisions of Section 11 of Income Tax Act, 1961 and
also to widen the scope of investment of the funds of the Association not immediately
required.
Amendment
No. (f)
The proposed amendment is necessitated in
view of the new Act i.e., Arbitration & Conciliation Act, 1996 and to facilitate the
existing Arbitration Rules applicable to the Exchange.
None of the elected Members of the
Committee, SEBI Nominees and Public Representative Members in the Committee are interested
in the resolution except to the extent they are Committee Members of the Exchange.
Item
No. B
At present the authorised share capital of
the Stock Exchange is 1200 ordinary shares of Rs. 250/- each out of which 1188 ordinary
shares are issued and paid up. In the recent past membership has been given to a few
Regional Stock Exchanges and, several other Regional Stock Exchanges have evinced their
interest in taking up membership of this Exchange. In the aforesaid view of the matter the
Committee proposes to issue 12 unissued shares of Rs. 250/- each at such amount as the
Committee may think fit and proper from time to time. In terms of section 81 (IA) of the
Companies Act, 1956 a Special Resolution is required to be passed by the members of the
Stock Exchange for issuing the shares to any person or bodies corporate including the
subsidiaries of Regional Stock Exchanges and also including the existing members of the
Stock Exchange who fulfill the eligibility criteria for membership of the Stock Exchange
as per its Articles, Bye-laws and Regulations and relevant SEBI guidelines.
None of the elected Members of the
Committee, SEBI Nominees and Public Representative Members in the Committee are interested
in the resolution except to the extent they are Committee Members of the Exchange.
By
order of the Committee
Calcutta
P.K.Ray
Dated
2nd September, 2000
Secretary
The Calcutta Stock Exchange Association Ltd.
7, Lyons Range, Calcutta-700 001
Auditors’ Report
We
have audited the annexed Balance Sheet as at 31st March, 2000 and also the annexed Income
and Expenditure account for the year ended on that date of THE CALCUTTA
STOCK EXCHANGE ASSOCIATION LIMITED and we report
that :
1.
We have obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purpose of our audit.
2. In our
opinion proper books of account as required by law have been kept by the Association so
far as appears from our examination of the books of account.
3. The
Balance Sheet and the Income and Expenditure Account referred to above are in agreement
with the books of account and comply with Accounting Standards referred in sub-section
(3C) of Section 211 of the Companies Act.
4. In our
opinion and to the best of our information and according to the explanations given to us,
the accounts read with Significant Accounting Policies and Notes in Schedule 'G' are in
particular.
Give the
information required by the Companies Act, 1956 in the manner so required and give a true
and fair view.
a) In the case of the Balance Sheet of the state of the
affairs of the Association as on 31st March, 2000 and
b) In the case of the Income and Expenditure Account of
the excess of the Income over Expenditure for the Year ended on that date.
As required by
the Manufacturing and other Companies (Auditor's Report) Order, 1988 issued by the
Government of India and on the basis of such checks as were considered appropriate. We
further report that :
1. Fixed Assets Register has been maintained to keep
details of Fixed Assets. Management has physically verified the assets and no major
discrepancy was reported to us.
2. The Fixed Assets have not been revalued during the
year.
3. The only parties to whom loans and advances in the
nature of loans have been given by the Association are the employees and they are repaying
the principal amount as stipulated.
4.
The Association has adequate internal control procedure commensurate with the size
and the nature of its activities for the purchase of material, equipments and other assets
and sale of materials.
5.
The Association has appointed firms of Chartered Accountants to do the internal
audit periodically. The internal audit system is commensurate with the size and nature of
the business of the Association.
6. The Association is regular in depositing Provident
Fund dues with the appropriate authority.
7. As explained to us, there are no amounts
outstanding as on 31st March, 2000 in respect of undisputed Income Tax etc. for a
period of more than six months from the date
they become payable.
8. According to the information and
explanations given to us, no personal expenses of employees or directors have been charged
to revenue
account, other than those payable under contractual obligations or in accordance with
generally accepted business practice.
Other clauses of the aforesaid Order are not applicable to the Association.
Dated the 2nd September, 2000
For S. S. Kothari & Association
India Steamship House
Chartered Accountants
21 Old Court House Street, Calcutta – 700 001
P. K. Bhattacharya
Partner
STATEMENT
OF
ACCOUNTS
Balance Sheet
Figures for the
Figures for the
previous year
current year
as on
as on
31.03.1999
L I A B I L I T I E S
31.03.2000
Rs
Rs.
Share Capital :
297,000
(As per Schedule "A")
297,000
Reserves & Surplus :
823,287,808
(As per Schedule "B")
1,442,289,348
Current Liabilities & Provisions :
2,555,624,417
(As per Schedule "C")
5,825,190,915
_____________
____________
3,379,209,225
7,267,777,262
as
on 31st March, 2000
Figures for the
Figures for the
31.03.1999
A S S E T S
31.03.2000
Rs.
Rs.
Fixed Assets :
1,02,209,194 (As per
Schedule "D")
99,059,189
11,028,851 Capital
Work-in-Progress (Derivative) 656,774
113,238,045
99,715,963
Investments :
2,418,522
( As per Schedule "E")
...
2,436,424
Current Assets, Loans & Advances :
3,263,552,658
( As per Schedule "F")
7,165,624,875
____________
____________
3,379,209,225
7,267,777,262
Income & Expenditure Account
Figures for the
Figures for the
31.03.1999
E X P E N D I T U R E
31.03.2000
Rs.
Rs.
18,223,346
To Establishment
…
17,912,722
3,077,204
" Staff Welfare
…
2,401,540
1,219,012
" Contribution
to Provident & Other Funds
…
1,292,345
1,822,231
" Gratuity
…
1,630,743
2,667,516
" Provision
for Leave Encashment ...
302,307
5,150,929
" Rent
and Other Expenses
...
8,209,191
5,017,155
" Electric
Charges
...
5,597,932
285,823
" Taxes
& Licenses
...
205,920
269,586
" Insurance
...
269,536
737,235
" Stamp,
Stationary & Printing
…
838,982
1,123,030
" Telephone
Charges
...
1,260,794
2,862,071
" Travelling
& Conveyance
...
1,751,303
77,120
" Motor
Car Expenses
…
63,274
2,431,022 &nb
Report of the Committee to the members
for the year ended
31st March, 2000
The Committee has pleasure in placing
before you the 77th Annual Report together with the Audited Statement of Accounts
for the year ended the 31st March, 2000.
1.
Financial Results
Rupees
In Lacs
2000
1999
(a) Surplus
before Depreciation
... ... 1,433.30
628.44
(b) Depreciation
... ...
438.11
580.45
_______
______
(c) Surplus
of Income over Expenditure before tax
... ...
995.19
47.99
Add :
(d) Surplus
brought forward from previous year
... ...
84.45
687.12
(e) Transfer
from General Reserve
... ...
300.00
_
(f) Application
of Funds for Investors' Services
... ...
69.24
73.34
_______
______
1,448.88
808.45
(g) Reserve
for Establishment of Centre for Training,
Statistical Information and Setting up a Library
... ... 1,325.00
650.00
(h) Investors'
Service Fund
... ...
106.10
73.99
(i) Retained
Surplus carried forward to the
following year
... ...
17.78
84.46
_______
______
1,448.88
808.45
During the year under review, the net Surplus of Income over Expenditure, after
providing for Depreciation, has increased to Rs. 995.19 lacs, as against the preceding
year's corresponding Surplus of only Rs. 47.99 lacs. The increase is mainly due to (i)
income from CSTAR, amounting to Rs. 872.02 lacs, (ii) interest on investment, amounting to
Rs. 379.98 lacs, and (iii) miscellaneous receipts, amounting to Rs.263.45 lacs.
2. Technology &
Infrastructure :
C-STAR (CSE Screen Based Trading & Reporting System) is presently working with
connectivity through LAN, as well as WAN, through VSAT's and Routers & Modems. During
the year under review, the LAN connectivity was expanded to cover further 14 buildings in
the vicinity of the existing LAN at an approximate cost of RS. 140 lacs. The Exchange
spent an amount of Rs. 70 lacs for the development of CSTAR settlement and data backup
system.
3. Settlement System :
a) Clearing
House :
The Clearing House of the Exchange is working satisfactorily. Both "A"
Group and "B" Group shares, which are not in compulsory demat, are delivered in
physical form through the Clearing House, in the Trading Hall of the Exchange.
b) Demat :
The volume of deliveries in the Demat Segment has increased during the year under
review due to inclusion of a larger number of companies in compulsory Demat segment. All
demat deliveries are currently being settled through the clearing house interface of the
Exchange with National Securities Depository Ltd. (NSDL). The connectivity between the
Exchange and Central Depository Services Ltd. (CDSL) commenced during the year under
review.
4.
Customer Protection Fund & Investors' Service Cell :
During this year, The Exchange has contributed a sum of Rs. 2,08,66,936/- to the
Customer Protection Fund, being Rs. 5,30,541/- towards 1% of the Listing Fee collected
during the year by the Exchange, and Rs. 13,82,874/- being 50% of Interest earned on
Investment of Deposit made by the Companies under Clause-42 of Listing Agreement, and Rs.
1,89,53,521/- being the Surplus arising on auctioning in respect of securities short
delivered by the members.
In order to render services to investors, e.g. publication of Official Report &
Quotation, conducting training classes, attending investor complaints etc. the Exchange
has spent an amount of Rs. 69,24,517/- during the year under review.
5.
Construction of a proposed Stock Exchange complex on the Eastern Metropolitan
Bypass :
As already reported last year the Exchange had paid an advance of Rs. 8.80 Crores
in the year 1995-96 towards lease premium for approximately 10 acres
of land near Science City on E. M. Bypass, as per letter of allotment received from the
Calcutta Municipal Corporation. The initial
lease would be for 33 years and would be renewable for 2 further periods of 33 years each.
The Exchange has received Draft Lease Agreement from the Calcutta Municipal Corporation
and the said Draft Agreement will be executed after receiving necessary approval
from concerned authorities. The Exchange had obtained possession of land and erected
temporary boundary wall in the previous year. However, the conveyance of the land is yet
to be executed. It is expected on the basis of recent discussions that the conveyance will
be executed shortly.
6.
Active Users :
During the year the number of active users of the C-STAR trading system increased
to 861 from about 500 at the beginning of the year. Currently the number of users stand at
more than 1000.
7.
Committee :
Under the Articles of Association, the following members of the committee will
retire by rotation :-
Sri S. K. Jalan
Sri S. C. Jhunjhunwala
Sri M. Agarwal
Among the aforesaid retiring members, Sri S. C. Jhunjhunwala and Sri M. Agarwal are
eligible to offer themselves for re-election. Sri S. K. Jalan, being in office for two
consecutive terms is not eligible for re-election, in terms of Article 83 (C) of the
Articles of Association of this Exchange.
During the year under review, Dr. B. Banerjee, Sri D. Chatterji, Sri B. K. Basu,
Sri K. K. Dhar, Sri R. Maheshwari and Sri B. G. Daga were nominated by SEBI on the
committee of this Exchange as public representatives for the year 1999-2000 under Article
81(d), read with Article 82(c) of the Articles of Association. They will continue as
public representatives till new nominations are received
from SEBI for appointment / re-appointment in
their places.
8.
Appointment of Auditors :
Under Article 113 of the Articles of Association, the Auditors M/s. S. S. Kothari
& Associates retire but being eligible offer themselves for re-appointment.
9.
Personnel :
The Committee wishes to place on record its appreciation of the services rendered
by the Officers and Staff of the Exchange.
10. Particulars of Employees
under Sec.
217(2A) of the Companies Act 1956 :
None of the employees' are in receipt of remuneration requiring disclosure pursuant
to the provision of Section 217 (2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975, hence, no such particulars are annexed.
By
order of the Committee
P.K.Ray
Sri J. M. Choudhary
Secretary
Sri S. K. Jalan
Dated 2nd September, 2000
Members
of the Committee
Schedule “A”
( Annexed to and forming part of the Balance
Sheet as on 31st March, 2000 )
As on
As on
P a r t i c u l a r s
31.03.2000 31.03.1999
Rs.
Rs.
SHARE
CAPITAL :
Authorised :
1,200 Ordinary Shares of Rs. 250/- each.
300,000
300,000
Issued :
1,188 Ordinary Shares (Previous Year
1,188 Nos.) of Rs. 250/- each
297,000
297,000
Subscribed &
Paid up :
1. Originally issued
as fully paid for other than cash :
852 Shares of Rs. 250/- each ; of the above 852 Shares,
298 Shares (previous year 297 shares) were forfeited and
292 Shares (previous year 287 shares) were re-issued.
Hence 846 Shares (previous year 842 shares) of Rs. 250/- each.
211,500
210,500
2. Issued as fully
paid up for cash :
336 Shares of Rs. 250/- each ; of the above 336 Shares, 29 Shares
were forfeited and 26 Shares (previous year 25 shares) were re-issued.
Hence 333 Shares (previous year 332 shares) of Rs. 250/- each.
83,250
83,000
Forfeited
Shares :
9 shares (previous year 14 shares) of Rs. 250/- each.
2,250
3,500
________
_______
297,000 297,000
Dated the 2nd September, 2000
For S. S. Kothari
& Associates
India Steamship House
Chartered Accountants
21, Old Court House Street, Calcutta 700 001
P. K. Bhattacharya
Partner
Schedule “B”
RESERVES
& SURPLUS
(Annexed to and forming part of the Balance Sheet as on 31st March, 2000)
Balance
Amt. transferred Addition Deductions Balance
as on
from Income &
during
during
as on
P a r t i c u l a
r s
31.03.1999
Expenditure A/c. the
Year
the year 31.03.2000
during the year
(Rs.)
(Rs.)
(Rs.)
(Rs.)
(Rs.)
Capital Reserve
618,860
—
—
—
618,860
Share Premium
3,014,597
—
—
— 3,014,597
Reserve for Establishment of Centre
for Training & Statistical Information
and Setting up a Library
230,715,358 132,500,000
—
— 363,215,358
Contingency Reserve
20,000,000
—
—
— 20,000,000
Development
Fees Fund
103,575,000
— 2,750,000
— 106,325,000
General Reserve
230,000,000
—
— 30,000,000 200,000,000
Income & Expenditure Account
(As per annexed Account)
8,445,240
— 136,443,664 143,110,826
1,778,078
Investor’ Service Fund
2,974,302 10,610,826
— 6,924,517 6,660,611
Fund for New Stock Exchange Office Space
& Work Station including Establishment
of centre for Training and Statistical
Information and Setting up a Library 47,475,000
—
—
— 47,475,000
Settlement Guarantee Fund
(as per Contra in Schedule “F”) 176,469,451
— 516,732,393
— 693,201,844
Total
823,287,808 143,110,826 655,926,057
180,035,343 1,442,289,348
Figures for the Previous Year
642,019,554 72,399,254 188,601,923
79,732,923 823,287,808
By order of the Committee
Dated the 2nd September, 2000
For S. S. Kothari & Associates
India Steamship House
Chartered Accountants
21, Old Court House Street, Calcutta 700 001
P. K. Bhattacharya
Partner
Schedule
“D”
SCHEDULE
OF FIXED ASSETS :
(Annexed to and forming part of the Balance
Sheet as on 31st March, 2000)
____________________________________________________________________________________
Upto
For
Upto
Assets as on
Assets as on
31.03.1999
the year
Adjustment
31.03.2000
31.03.2000
31.03.1999
____________________________________________________________________________________
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
—
—
—
—
415,300
415,300
834,467
84,843
—
919,310
1,612,040
1,696,883
73,183
8,671
—
81,854
164,764
173,435
5,342,608
1,921,074
—
7,263,682
12,278,623
13,476,303
50,542
6,611
—
57,153
55,737
42,830
3,553,899
2,047,780
—
5,601,679
9,991,745 5,269,526
1,751,065
499,444
1,830
2,248,679
3,093,007
3,237,600
3,323,987
868,686
—
4,192,673
5,150,467 5,324,069
31,607
1,509
—
33,116
9,334
10,843
612,109
13,505
—
625,614
84,153
97,658
251,509
143,797
207,250
188,056
811,698
276,307
423,341
304
—
423,645
457
761
132,236,795
38,215,351
—
170,452,146
65,391,865 72,187,679
148,485,112
43,811,575
209,080
192,087,607
99,059,189 102,209,194
—
—
—
—
656,774 11,028,851
__________________________________________________________________________________
148,485,112
43,811,575
209,080
192,087,607
99,715,963 113,238,045
90,564,091
58,916,848
995,827
148,485,112
113,238,045 157,966,508
P a
r t i c u l a r s
As on 31.03.2000
As on 31.03.1999
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
A. Current Assets :
Interest accrued but not due on
Investments / Deposits
23,767,789
8,115,549
Sundry
Debtors :
a) Debts outstanding for a
period exceeding six months
From Members (Secured, 7,337,678
7,187,164
considered good)
From Others (Unsecured, 43,417,655
44,803,070
considered good)
50,755,333
51,990,234
b)
Other Debts :
From Members
958,449
896,849
(Secured, considered good)
From Others
______ —
958,449
265,000 1,161,849
(Unsecured, considered good)
51,713,782
53,152,083
Cash & Bank
Balances :
Cash-in hand (as Certified)
62,778
18,742
Balance with
scheduled Banks :
In Current Account :
175,023,944
168,875,163
In
Savings Account :
1,801,597
1,808,748
In Fixed Deposits :
1,844,817,436
395,578,398
2,021,642,978
566,262,310
Deposit with Industrial
Credit &
Investment Corpn. of
India Ltd
—
55,000,000
B. Loans & Advances :
(Unsecured, Considered good)
:
Tax deducted at source :
31,353,340
13,406,512
Advance to Staff :
7,624,418
6,376,950
Advance to others :
50,720,692
40,258,491
Prepaid Expenses :
430,104
457,233
90,128,554
60,499,186
(Annexed
to and forming part of the Balance Sheet as on 31.st March, 2000)
As on 31.03.2000
As on 31.03.1999
Members’
Deposit for Security &
Base Capital
Requirement & Margin:
(As per Contra
In Schedule "C")
In Fixed Deposit
1,400,012,774
324,199,676
In Shares & Debentures etc.
2,768,568,275 1,905,929,686
4,168,581,049
2,230,129,362
Advance to Calcutta Municipal
Corporation
(Ref. No.:15 of Schedule "G")
88,000,000
88,000,000
Deposit with Turner Morrison Ltd.
(Ref. No. : 11 of Schedule
"G")
20,000,000
20,000,000
Security Deposit with Others
1,804,880
1,793,880
Settlement Guarantee Fund :—
(as per Contra in Schedule
‘B’)
Investment of Fund of Settlement
Guarantee Fund
206,923,967
159,142,463
Members Security Deposits in Shares
& Debentures under S.G.F.
381,750,000
Bank Balance –
A/c. Settlement Guarantee Fund in UBI 912,909
33,977
Accrued Interest on Investments
of Settlement Guarantee Fund
25,478,052
2,318,079
TDS on Interest on FD (S.G.F.)
1,166,326
—
Accured Contribution for the
current year
76,970,590
14,974,932
693,201,844
176,469,451
Investment of Deposit Money
on A/c. Custodian
(as per contra in Schedule
"C")
6,721,222
4,112,094
____________ ___________
Dated the 2nd September, 2000
Annexure
"B"
Information
pursuant to part IV of schedule VI to the companies Act. 1956
Balance Sheet
abstract and Company’s general business profile.
a) REGISTRATION DETAILS
Registration number
4707/25 for 1923-24
State Code
21
Balance sheet date
31-03-2000
b) CAPITAL RAISED DURING THE YEAR
(Rs. in
thousand)
Public issue
NIL
Rights issue
NIL
Bonus issue
NIL
Private placement
NIL
c) POSITION OF MOBILISATION AND DEPLOYMENT OF FUNDS
Total liabilities and
share-holders funds
Rs. 7,267,777
Total assets
Rs. 7,267,777
SOURCES OF FUNDS (Excluding Current Liabilities)
Paid up capital
Rs. 297
Reserves and surplus
Rs. 14,422,893
Secured Loans
NIL
Unsecured loans
NIL
APPLICATION OF FUNDS
Net fixed assets
Rs. 99,716
Investments
Rs. 2,436
Net Current assets
Rs. 958,684
Miscellaneous expenditure
NIL
Accumulated losses
NIL
d) PERFORMANCE OF THE COMPANY
Income
Rs. 376,939
Total Expenditure
Rs. 277,420
Surplus / (Shortage) before
tax
Rs. 99,519
Earnings per share in Rs.
Rs. 84
Dividend rate %
NIL
e) GENERIC NAMES
OF THREE PRINCIPAL
PRODUCTS / SERVICES OF THE COMPANY
Item Code No. (ITC Code)
N.A.
Product Description
N.A.
Item Code No (ITC Code)
N.A.
Product Description
N.A.
Item Code No. (ITC Code)
N.A.