Categories
STUDY PURPOSE

PSU Stock In NBFC’s Finance Company For Short term

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.

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.

Administrative control and the Board & Committee of Directors:

“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 government nominee directors, two independent director and one ex-officio – non- executive director.

The composition of the various committees as on 27th January, 2021 is as under:

i)   Audit Committee

Shri Ajay Singhal, Independent Director- Chairperson of the Committee
Shri Sandip Das, Non-executive Director – Member
Smt.Shilpa Shashikant Patwardhan, Independent Director-Member

Quorum- The quorum of the Audit Committee meeting shall either be two members or one third of the members of the Audit Committee whichever is greater, with at least two independent directors.

ii)   Nomination and Remuneration Committee (NRC)Shri Ajay Singhal, Independent Director- Chairperson of the Committee
Smt. Perin Devi Rao, Government Nominee Director – Member
Shri Mrityunjay Jha, Government Nominee Director – Member
Smt.Shilpa Shashikant Patwardhan, Independent Director-Member

Quorum- The quorum of the NRC meeting shall either be two members or one third of the members of the NRC whichever is greater, with at least one independent director.

iii)    Stakeholders Relationship Committee (SRC)Shri Sandip Das – Chairman of the Committee
Smt. Perin Devi Rao, Government Nominee Director – Member
Shri Ajay Singhal, Independent Director-Member
Shri Mrityunjay Jha, Government Nominee Director – Member
Smt.Shilpa Shashikant Patwardhan, Independent Director-Member

Quorum- The quorum of the SRC meeting shall either be any two members or one third of the members of the SRC whichever is greater..

iv)    Committee of Directors for Transfer of Shares, etc.Smt. Perin Devi Rao, Government Nominee Director – Member
Shri Sandip Das – Member
Shri Mrityunjay Jha, Government Nominee Director – Member
Shri Ajay Singhal, Independent Director-Member
Smt.Shilpa Shashikant Patwardhan, Independent Director-Member

Quorum- The quorum of the meeting of the Committee of Directors for Transfer of Shares, etc. shall any two members.

v)    Corporate Social Responsibility Committee (CSR)Smt. Perin Devi Rao, Government Nominee Director- Chairperson of the Committee
Shri Sandip Das – Member
Shri Mrityunjay Jha, Government Nominee Director – Member
Shri Ajay Singhal, Independent Director-Member
Smt.Shilpa Shashikant Patwardhan, Independent Director-Member

Quorum- The quorum of the CSR Committee meeting shall either be two members or one third of the members of the CSR committee, whichever is greater.

5. Subsidiary Companies:

The Company as on the date of its reporting has three subsidiaries namely, Balmer Lawrie & Co. Ltd., Visakhapatnam Port Logistics Park Limited (VPLPL) and Balmer Lawrie (U.K.) Ltd. (BLUK) (since VPLPL and BLUK are the subsidiaries of Balmer Lawrie & Co. Ltd.).

Source of Data : http://balmerlawrie.com/blinv/

Company Name in BSE : BALMER LAWRIE INVESTMENTS LTD .

Cmp : 479.50 (15.08.2021)

52 Weeks High/Low : 525.55/325 (15.08.2021)

Target : 512 – 530.

Time Period : 1 Month to 3 Months .

STUDY PURPOSE ONLY .

Disclaimer: I am Not a SEBI REGISTERED ANALYST. This Website & Its Owner, Creator & Contributor is Neither a Research Analyst nor an Investment Advisor and Expressing Option Only as an Investor in Indian Equities. All trading strategies are used at your own risk.

He/ She are Not Responsible for any Loss a Rising out of any Information, Post or Opinion Appearing on this Website. Investors are advised to do Own Due Diligence or Consult Financial Consultant before acting on Such Information.

Author of this Website not providing any Paid Service and not Sending Bulk mails/SMS to Anyone. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. Investment/Trading in securities Market is subject to market risk. This is my personal thoughts on this company and not at all a buy recommendation. Do own due diligence /consult a SEBI registered advisor before any action.

One reply on “PSU Stock In NBFC’s Finance Company For Short term”

Leave a Reply