January 1971 to December 1980

Tuesday, 2-2-1971. A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Dhirajlal Maganlal, wherein the undermentioned members of the Board were present: Seth Dhirajlal Maganlal Seth Gordhandas Bhagwandas Seth Phiroze J. Jeejeebhoy Seth Hiralal Girdharlal Seth Jayant Amerchand Seth Babubhai M. Gandhi Seth Vasantlal Kantilal Shah Seth Bharatkishore Begraj Gupta Seth Mathradas Samaldas Seth Vasantlal Jivatlal Seth Jasvantlal Chhotalal Seth Jivanchand Ratanchand Motishaw Seth Rasiklal Maneklal Seth Vasantlal Champaklal Seth Navinchandra Chhaganlal Kampani

Government Nominees Shri M.N. Deshmukh.

The following business was transacted in the meeting: 1. Resolved that this Board takes note of the sad demise of one of the oldest and

leading members, members of the Governing Board and Trustee of the Stock

Exchange, Shri Kantilal Ishwarlal and expresses it grief and sorrow. The Board also

takes note of the selfless and invaluable services rendered by him for a long tie as

a member of the Governing Board, Hon. Treasurer, member of the Defaulters’

Committee and its Chairman and as a Vice-President, President and the Trustee of

the Exchange. The Board shares the deep grief and pain with the family members

of the deceased and requests the President to send a copy of this Resolution to

them as a token of its condolences.

2. Resolved that the undermentioned notices regarding cum right and ex-right

transactions in the shares of the undermentioned concerned companies are

confirmed:

1. Hindustan Motors Ltd. Notice No:35/71 dt.8-1-71 2. The Western India Plywoods Ltd. Notice No:45/71 dt. 11-1-71 3. Indian Dye-stuff Industries Ltd. Notice No:75/71 dt. 15-1-71 4. Tata Oil Mills Co,Ltd. Notice No:76/71 dt. 15-1-71 5. Chemo Pharma Laboratories Ltd. Notice No:102/71 dt. 20-1-71 6. The Mafatlal Fine Spg., and Mfg.,

Co.Ltd. Notice No:110/71 dt. 22-1-71

7. United Motor (India) Ltd. Notice No:117/71 dt. 23-1-71 8. Kerry Jost Tools Ltd. Notice No:1161/71 dt. 23-1-71

3. Resolved that the notices mentioned against the names of the undermentioned

companies regarding deliverability of their new shares against their old shares are

confirmed:

1. R.J. Shah & Co. Ltd. Notice No:2224/71 dt.24-12-

70 2. The Hindustan Sugar Mills Ltd. Notice No:37/71 dt.8-1-71 3. Automobile Products of India Ltd. Notice No:46/71 dt.11-1-71 4. Indian Detonators Ltd. Notice No:119/71 dt.25-1-71

4. Resolved that the undermentioned notices are confirmed:

1. Notice No:2197/70 dated 21-12-70 regarding permission given to deal in

Letters of Renunciation and coupons of the new shares of Jyoti Ltd.

2. Notice No:18/71 dated 4-1-71 regarding the Buyers’ ticket programme.

3. Notice No: 36/71 dated 8-1-71 regarding permission given for dealing in

coupons of the bonus shares of Ruby Mills Ltd.

4. Notice No:41/71 dated 8-1-71 regarding keeping the market open for doing

business on 9-1-71 because of the increase made in Bank rate.

5. Notice No:66/71 dated 14-1-71 regarding resumption of dealings in the

shares of The Hukamchand Mills Ltd.

6. Notice No: 87/71 dated 17-1-71 regarding giving of only Bank of India

cheques between members in the settlement of Hand delivery transactions

5. The letter dated 15-1-71 of Smt. Mani Darasha Master wife of the late Shri

Darasha H. Master was read and it was resolved to give permission to Shri Keki

D.Mehta to continue the business of the late Shri Darasha M. master for two more

months.

6. The letter dated 30-12-70 of Smt. Taramati Tribhovandas and others was read and

it was resolved to give permission to Shri Virendra Tribhovandas Damani to

continue the business of the late Shri Tribhovandas Gordhandas Damani for three

months.

7. The letter dated 1-2-71 of Smt. Shakuntala Kantilal and others was read and it

was resolved to give permission to S/Shri Sevantilal Kantilal, Vasantlal Kantilal and

Navinchandra Kantilal to continue the business of M/s Kantilal Ishwarlal for three

months.

8. The letter dated 7-1-71 of Bai Manibai Jeshinglal and others was read and it was

resolved that in view of the prevailing conditions permission should be given to

them to continue the business of the late Shri Jeshigbhai Savjibhai for two more

months.

9. The letter dated 7-1-71 of Shri Jayantilal Jeshinglal was considered and it was

resolved that in view of the special circumstances prevailing at present he should

be given two months more time for fulfilling the conditions for being admitted as a

member of the Exchange.

10. The letter of resignation dated 11-1-71 of Shri K.B. Daruwala was considered and

it was resolved to accept his resignation from 1-2-71 and to give him pension of

Rs.144/- per month. Further resolved that the amount accumulated in his

Provident Fund should be paid to him as well as the gratuity of Rs.16,125/- should

be paid to him.

11. The letter dated 1-2-71 of our office typist Shri B.L. Desai to give him assistance of

Rs. 619/- being the expenses incurred by him in connection with the operation of

hernia and the medicines etc., was considered and it was resolved to give him

assistance of Rs.619 from Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund.

12. The application dated 30-12-70 of Smt. T.Pappu Amma, mother of our temporary

staff member the late Shri T. Prabhakaran was considered and it was resolved to

pay her the accumulated Provident Fund amount of Shri T.Prabhakaran as well as

his remaining salary, leave salary and assistance of Rs.500/- from Seth K.R.P.

Shroff Stock Exchange Sarvajanik Fund.

13. The Clearing Programme for the months of April, May and June of the year 1971

was fixed as under:

The last working day and the badla day

16-4-71 7-5-71 28-5-71 18-6-71

Comparison day and the Clearance day

19-4-71 12-5-71 31-5-71 21-6-71

Delivery Day 21-4-71 14-5-71 2-6-71 23-6-71 Account Day 23-4-71 17-5-71 4-6-71 25-6-71 Pay-in Day 24-4-71 18-5-71 5-6-71 26-6-71 Settling Day 27-4-71 20-5-71 8-6-71 29-6-71

14. The application dated 23-11-70 of Shri Vadelal Baldevdas nominating Shri

Gangadher Yeshwant Bhandare as a member of the Exchange in his own place was

considered and after interviewing Shri Gangadher Yeshwant and his recommenders

S/Shri R.V. Varde and Pankaj I. Kapadia it was resolved by 13 votes in favour and

1 against to elect Shri Gangadher Yeshwant Bhandare as a member of the

Exchange in the place of Shri Vadilal Baldevdas subject to the Rules and Bye-laws

of the Exchange on condition that he should not do business in the market in his

own name for six months.

15. The application dated 7-12-70 of the near relatives of the late Shri Puranmal

Bansidhar nominating Shri Gaurishankar Puranmal as a member of the Exchange

in the place of the late Shri Puranmal Bansidhar was considered and after

interviewing Shri Gaurishankar Puranmal and his recommenders S/Shri Vallabhdas

Dayal and Madhavlal Maganlal it was resolved by 14 votes in favour and none

against to elect Shri Gaurishankar Puranmal as a member of the Exchange in the

place of late Shri Puranmal Bansidhar subject to the Rules and Regulations of the

Exchange.

16. The application dated 4-1-71 of the near relatives of the late Shri Manharlal

Chhotalal Mehta nominating Shri Dipak Manharlal Mehta as a member of the

Exchange in the place of the late Shri Manharlal Chhotalal Mehta was considered

and after interviewing Shri Dipak Manharlal Mehta and his recommenders S/Shri

Navalchand T. shah and Champaklal Devidas it was resolved by 14 votes in favour

and none against to elect Shri Dipak Manharlal Mehta as a member of the

Exchange in the place of late Shri Manharlal Chhotalal Mehta subject to the Rules

and Bye-laws of the Exchange.

17. The application dated 21-12-70 of the near relatives of the late Shri Chinubhai

Amratlal nominating Shri Vipin Chinubhai as a member of the Exchange in the

place of the late Shri Chinubhai Amratlal was considered and after interviewing

Shri Vipin Chinubhai and his recommenders S/Shri Augiras Bhogilal Mehta and

Chimanlal Amratlal it was resolved by 14 votes in favour and none against to

elect Shri Vipin Chinubhai as a member of the Exchange in the place of late Shri

Chinubhai Amratlal subject to the Rules and Bye-laws of the Exchange.

18. The application dated 16-1-71 of the near relatives of the late Shri Manilal

Mohanlal nominating Shri Kanji Lilladher as a member of the Exchange in the

place of the late Shri Manilal Mohanlal was considered and after interviewing Shri

Kanji Lilladher and his recommenders S/Shri S.M. Samant and Asgarali A. Gangji

it was resolved by 13 votes in favour and 1 against to elect Shri Kanji Lilladher as

a member of the Exchange in the place of late Shri Manilal Mohanlal subject to the

Rules and Bye-laws of the Exchange.

19. The application dated 22-12-70 of Shri Nandlal Laxmichand nominating Shri

Sureshchandra nandlal as a member of the Exchange in his own place was

considered and after interviewing Shri Sureshchandra Nandlal and his

recommenders S/Shri Kantilal Mohanlal and Bachubhai Fulchand Jhaveri it was

resolved by 12 votes in favour and 2 against to elect Shri Sureshchandra Nandlal

as a member of the Exchange in the place of Shri Nandlal Laxmichand subject to

the Rules and Bye-laws of the Exchange on condition that he pays additional

membership security deposit of Rs.30,000/- over and above the usual membership

deposit of Rs. 20,000/-.

20. The Chairman told the Board that it has been decided that tenders for the

foundation work of our new building should be invited through our Architects from

the contractors known for doing such work, that anti-earthquake structural

calculations should be got made and that a contract should be made for boring one

tube-well and if necessary two tube wells according to the terms mentioned in the

letter dated 174-4-70 of Bombay Boring Co.Ltd. The Board also considered the

matters like the efforts being made for obtaining loans for construction of the new

building the space to be given for constructing two electric sub-stations as asked

for by the B.E.S.T., talks taken place with Bombay telephones fo setting up of a

special telephone exchange for the convenience of our market and the surrounding

areas and the terms regarding giving the space on rent in our new building.

21. The letter dated 25-9-70 of our Architects M/s Shapurji Chandabhai and Co., was

considered and it was resolved that M/s Nariman M. Nalaseth and Associated

should be appointed as consultants for the work of plumbing, drainage, water

supply and fire-fighting installation of our new building with freedom to submit

tenders for such work and they should be paid consultation fee of 2 percent.

22. The letter dated 301-2-70 of Devidayal Industries Ltd., was read and it was

resolved that as the 9.5% Cumulative Preference shares have redeemed they

should be removed from our list of securities traded on the Exchange.

23. The listing applications of the undermentioned companies were considered and it

was unanimously resolved that subject to the listing regulations as well as

compliance with the usual requirements and other special requirements stipulated

by us the securities mentioned against their respective names should be admitted

to our list of None-cleared Securities traded on the Exchange and dealings in those

securities should be done in the trading lots mentioned there against:

Sakthe Sugars Ltd. Equity 5 shares Sakthe Sugars Ltd. Preference 5 shares Foods and Inns Ltd. Equity 50 shares Rathi Alloys and Steel Ltd. Equity 50 shares Rathi Alloys and Steel Ltd. Preference 5 shares Rathi Ispat Ltd. Equity 50 shares Rathi Ispat Ltd. Preference 5 shares Tungbhadra Industries Ltd. New Equity 50 shares Tungbhadra Industries Ltd. New Preference 5 shares The East India Hotels Ltd. New Equity 50 shares The East India Hotels Ltd. New Equity 9.5%

Non-redeemable cum Preference shares.

5 shares


was unanimously resolved to confirm the listing of their belowmentioned securities

in the list of securities traded on the Exchange:

W.S. Insulators of India Ltd. New 9.5% Preference shares (allotted to Tamil Nadu Industries Development Corporation)

Upper Doad Sugar Mills Ltd. Bonus Equity The East India Hotels Ltd. New Equity The Empire Dyeing and Mfg. Co.Ltd. New Equity The Hindustan Sugar Mills Ltd. Bonus Equity The Western India Match Co.Ltd. Bonus Equity The Gwalior Rayon Silk Mfg., (Wvg) Co.Ltd. Bonus Equity Gujarat Steel Tubes Ltd. Bonus Equity Indabrator Ltd. Bonus Equity The Mysore Kirloskar Ltd. Bonus Equity

25. The letter dated 23-1-71 of Kirloskar Pneumatic Ltd., was read and it was resolved

that the trading lot of its Equity shares should be changed and made of 50 shares

of Rs.10/- each.

26. The letter of Seconds Limited dated 28-12-70 and Sen-Releigh Ltd., dated 15-1-71

were read and it was unanimously resolved to strike their shares off the list of

securities traded on the Exchange.

27. Resolved that the matter regarding removal of shares of the Indian Iron and Steel

Co.Ltd., from our list of securities traded on the Exchange should be postponed.

28. The application dated 4-12-70 of Shri Panalal Manelal nominating Shri

Sobhagyachand Mohanlal Shah as a member of the Exchange in his own place

was considered and after interviewing Shri Sobhagyachand Mohanlal Shah and his

recommenders S/Shri Campaklal Jamnadas and Kasturchand Sarupchand it was

resolved by 10 votes in favour and 4 against to elect Shri Sobhagyachand Mohanlal

Shah as a member of the Exchange in the place of Shri Panelal Manelal subject to

the Rules and Regulations of the Exchange on condition that within one month he

should leave the partnership fir of Prakash Embroidery Works.

29. Shri Rasiklal Maneklal told the Board that in the present system of settlement of

transactions by the process of Tickets, many a true circumstances arise when as

single party has to deliver shares worth lakhs of Rupees. Hence there is a great

risk in that. Arrangements should therefore be made for delivery of shares and

payment therefore through the bank for safety of the members. The Chairman said

that the Clearing House has been asked to make suitable arrangement in that

connection but no progress has taken place so far because of the irregularities in

the Bank of India at present. However, when the situation improves needful will be

done for making arrangements for settlement of Hand delivery transactions

through the bank.

Sd/- Sd/- A.J. Shah Gordhandas Bhagwandas Secretary President Dt: 6-4-71

Wednesday, 24-2-1971. A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Dhirajlal Maganlal, wherein the undermentioned members of the Board were present: Seth Dhirajlal Maganlal Seth Gordhandas Bhagwandas Seth Phiroze J. Jeejeebhoy Seth Hiralal Girdharlal Seth Jayant Amerchand Seth Babubhai M. Gandhi Seth Vasantlal Kantilal Shah Seth Bharatkishore Begraj Gupta Seth Mathradas Samaldas Seth Vasantlal Jivatlal Seth Jasvantlal Chhotalal Seth Jivanchand Ratanchand Motishaw Seth Rasiklal Maneklal Seth Vasantlal Champaklal Seth Navinchandra Chhaganlal Kampani

Government Nominees Shri M.N. Deshmukh

Shri T.G. Gondhalekar

The following business was transacted in the meeting: 1. Resolved that the notices mentioned against the names of the undermentioned

companies regarding cum-right and ex-right transactions of their shares are

confirmed:

1. Tata Chemicals Ltd. Notice No:165/71 dt.3-2-71 2. Hind Cycles Ltd Notice No:166/71 dt.3-2-71

and Notice No:239/71 dt.17-2-71.

3. Telefincon India Ltd. Notice No:177/71 dt.4-2-71 4. Alembic Chemical Works Ltd. Notice No:188/71 dt.6-2-71 5. Saurashtra Cement and Chemical

Industries Ltd. Notice No:196/71 dt. 9-2-71

6. Madhusudan Ltd. Notice No:237/71 dt.17-2-71 7. Bombay Suburban Electric Supply Ltd. Notice No:242/71 dt.17-2-71 8.

Surat Electric Supply Co.Ltd. Notice No:242/71 dt.20-2-75


companies giving permission for dealing in Letter of Renunciation of their new

equity shares are confirmed:

1. Straw Products Ltd. Notice No:155/71 dated 2-2-71 2. Tata Marilyn and Gerin Ltd. Notice No:183/71 dated 5-2-71

3. The report dated 3-2-71 of Sir Shapurji Broacha Brokers’ Helping Fund Committee

was gone through and it was resolved to approve it.

4. The application dated 1-12-70 of Bai Urmila Mohanlal Dhanki for help was reas and

it was resolved to give her help of Rs.500/- from Seth K.R.P. Shroff Stock

Exchange Sarvajanik Fund.

5. The application dated 19-1-71 of S/Shri Fulchand Gordhandas Vora, Kirtikumar

Fulchand Vora and Anantrai Fulchand Vora for partnership was considered and it

was resolved that their partnership should be approved under the firm name of

M/s Vora & Sons with effect from 1-3-71.

6. The letter dated 9-2-71 of M/s K.J.Shah and Sons and Shri V.K. Nanavati were

read and it was resolved to confirm the permission given to Shri V.K. Nanavti to do

business as a Representative member of M/s K.J.Shah and Sons.

7. The letter dated 3-2-71 of Smt. Dinbai Palani Mistry giving resignation of her job

was considered and it was resolved to accept her resignation with effect from 1-2-

71 and pay the amount accumulated in her Provident Fund and give her the

gratuity of Rs.4,554/-.

8. The application dated 13-2-71 of Shri C.N. Sanghvi asking for a loan of Rs.6000/-

for constructing a building was considered and it was resolved to give him a loan of

Rs.6000/-.

9. The letter dated 5-2-71 of the Federation of Indian Chamber of Commerce and

Industries was considered and it was resolved that the resignation of the

membership of that institute given by us cannot be withdrawn.

10. Resolved that Wednesday 24-3-71 should be fixed as the day of election of the

Governing Board for the year 1971-72.

11. The application dated 20-1-71 of the near relatives of the late Shri Shantilal

Chunilal nominating Shri Manharlal Shantilal as a member of the Exchange in the

place of late Shri Shantilal Chunilal was considered and after interviewing Shri

Manharlal Shantilal and his recommender Shri Jitendra Champaklal it was resolved

by 14 votes in favour and none against to elect Shri Manharlal Shantilal as a

member of the Exchange in the place of late Shri Shantilal Chunilal subject to the


12. The representation signed by Shri Vinodchandra Maneklal Mansurwala and 186

other members for not charging the badge fee of Authorised Clerks as the business

in the market has been very much reduced on account of Government ban on

forward business was considered. It was noted that mention made therein of the

so called assurance given previously etc., was not correct and resolved that their

request cannot be accepted.

13. The listing application of Shivaji Works Ltd., was considered and it was

unanimously resolved to confirm admission of its new equity and new preference

shares to the list of securities traded on the Exchange.


was unanimously resolved that subject to the Listing Rules and Regulations as well

as compliance with the usual requirements and other special requirements

stipulated by us the securities mentioned against their respective names should be

admitted to our list of Non-cleared Securities traded on the Exchange and dealings

in those securities should be done in the trading lots mentioned there against:

Garware Nylons Ltd. Equity 50 shares Toshiba Anand Batteries Ltd. Equity 50 shares Exide Industries Ltd. Preference 5 shares

15. The letter dated 11-2-71 of the India Iron and Steel Co. Ltd., was considered and

it was unanimously resolved that as the company has given the required assurance

in the matter of closing of its Register of Members, the shares of that company

should be continued to be kept in our official register.

Sd/- Sd/- A.J. Shah Gordhandas Bhagwandas Secretary President Dt: 6-4-71 The Board passed the undermentioned Resolutions by circular dated 17-3-71:

1. “Resolved that S/Shri Keki N. Chinoy, Jayantilal Mansukhlal and Champaklal Babubhai Marfatia be appointed as scrutineers for scrutinizing the Ballot papers and declaring the result of the election of the Governing Board for the year 1971-72”

2. “The application dated 15-3-70 of our Secretary Shri A.J.Shah for giving him a loan of Rs.15,000/- for purchasing a motor car was considered and it was resolved to give him that loan.”

Sd/- Sd/- A.J. Shah Dhirajlal Maganlal Secretary President Dt: 6-4-71

Tuesday, 6-4-71. A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm in the beginning under the Chairmanship of Shri Gordhandas Bhagwandas and thereafter under the Chairmanship of Shri Laldas Jamnadas wherein the undermentioned members of the Board were present: Seth Laldas Jamnadas Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Jagdish Jagmohandas Kapadia Seth Rasiklal Maneklal Seth A.R. Mahadevia Seth Jayant Amerchand Seth Vasantlal Kantilal Shah Seth Hiralal Girdharlal Seth Babubhai Maganlal Gandhi Seth Gordhandas Bhagwandas Seth Mathradas Samaldas Seth Vasantlal Jivatlal Seth Navinchandra Chhaganlal Kampani Seth Himatlal V. Gandhi Seth Vasantlal Champaklal


The following business was transacted in the meeting: 1. Proposed by Shri Jayant Amerchand and seconded by Shri Rasiklal Maneklal, Shri

Gordhandas Bhagwandas was unanimously elected as Chairman of today’s

meeting.

2. Proposed by Shri Jayant Amerchand and seconded by Shri Himatlal V.Gandhi it

was unanimously resolved to elect Shri Laldas Jamnadas as the President.

Shri Gordhandas Bhagwandas handed over the Chairmanship to Shri Laldas

Jamnadas and congratulated him on behalf of all the members of the Board.

Shri Laldas Jamnadas thanked all the members of the Board for having their trust

reposed in him and took over Chairmanship of the meeting. He expressed the hope

that the members of the Board and Government nominees will give him full

support and co-operation as usual.

3. Proposed by Shri Jayant Amerchand and seconded by Shri Gordhandas

Bhagwandas it was unanimously resolved to elect Srhi Rasiklal Maneklal as Vice-

President.

Shri Rasiklal Maneklal thanked all the members of the Board fro electing him as

the Vice-President.

4. Proposed by Shri Rasiklal Maneklal and seconded by Shri A.R. Mahadevia it was

unanimously resolved to elect Shri Mathradas Samaldas as the Ho. Treasurer.

5. Resolved to appoint Sir Shapurji Broacha Brokers’ Helping fund Committee

consisting of Shri J.R. Motishaw, Jayant Amerchand, Gordhandas Bhagwandas and

Pranjivandas Harjivandas.

6. Resolved that the undermentioned members should be appointed as members of

the Arbitration Committee:

Shri Keki N. Chinoy Shri S.M. Shah Shri Chhotalal Devchand Shri Nagindas Natverlal Dalal Shri Jayantilal Mansukhlal Shri Nagindas Trambaklal Parekh Shri Champaklal Balubhai Marfatia Shri V.K. Nanavati Shri M.L. Kaji Shri Jayendra D. Mehta Shri L.N. Kapadia Shri H.N. Sonawala Shri M.N. Marfatia Shri D.V. Shukla

7. Resolved that the Defaulters’ Committee for the year 1971-72 should be appointed

consisting of the undermentioned members :

Shri J.R. Motishaw Shri Keki N. Chinoy Shri Jayant Amerchand Shri Jayant Mansukhlal Dalal Shri Vasantlal Champaklal Shri Rasikal S. Jhaveri

8. Resolved that the cheques be signed by the President, Shri Laldas Jamnadas or the

Chairman, Shri P.J. Jeejeebhoy or the Vice-President Shri Rasiklal Maneklal, or the

Hon. Treasurer, Shri Mathradas Samaldas and by any one of the following six

members of the Governing Board namely Shri Jayant Amerchand, Shri Gordhandas

Bhagwandas, Shri Vasantlal Champaklal, Shri Navinchandra C. Kampani, Shri

Hiralal Girdharlal and Shri Vasantlal Kantilal Shah and be countersigned by the

Secretary, Shri A.J. Shah.

9. Resolved that the current accounts and the safe custody accounts with Bank of

India in the names of The Stock Exchange Staff Provident Fund and The Stock

Exchange Staff Gratuity Fund be operated on either by any two of the Trustees of

the Exchange for the time being or the survivors or survivor of them or jointly by

the Hon., Treasurer Shri Mathradas Samaldas any one of the following six

Members of the Governing Board namely Shri Jayant Amerchand, Shri Gordhandas




10. Resolved that the various safe custody accounts of the Exchange with Bank of

India, be operated on jointly by the President Shri Laldas Jamnadas or the

Chairman, Shri P.J. Jeejeebhoy ot the Vice-President Shri Rasiklal Maneklal or the

Hon. Treasurer, Shri Mathradas Samaldas and any one of the following six

members of the Governing Board namely Shri Jayant Amerchand, Shri Gordhandas




11. Resolved that the Building sub-committee should be appointed consisting of Shri

Laldas Jamnadas, Shri Gordhandas Bhagwandas, Shri Mathradas Samaldas, Shri

Jayant Amerchand, Shri Vasantlal K. Shah and Shri Himatlal V. Gandhi.

12. The President welcomed S/Shri Himatlal V.Gandhi, A.R. Mahadevia and Jagdish J.

Kapadia as having him elected as member of the Board. He made a mention of the

unique services rendered by Shri K.R.P. Shroff to the Exchange for a very very

long time amd said that it was because of his services that our Exchange enjoys at

present such respectful and revered place in the eyes of the Government and the

public. He also made a mention of the firm services rendered by the late Shri

Kantilal Ishwarlal and during the last four years by Shri Dhirajlal Maganlal

subsequent to the retirement of Shri K.R.P.Shroff and also praised the efforts

made by Shri Dhirajlal Maganlal even at the cost of his health for removal of the

Government ban on forward trading.

The Board took note of the valuable serviced rendered by Shri Dhirahlal Maganlal

to the Exchange continuously for 27 years as a member of the Governing Board,

Hon. Treasurer, vice-President and President and appreciated his efforts and work

to preserve and enhance the welfare of the Association with passion and hard work

during the last for years in the face of the unfavourable circumstances.

13. The application dated 2-3-71 of the near relatives of the late Shri Kantilal

Ishwarlal nominating Shri Sevantilal Kantilal as a member of the Exchange in the

place of late Shri Kantilal Ishwarlal was considered and after interviewing Shri

Sevantilal Kantilal and his recommenders S/Shri Navalchand T. shah and

Gunvantlal M. Dalal it was resolved by 16 votes in favour and none against to

elect Shri Sevantilal Kantilal as a member of the Exchange in the place of late Shri

Kantilal Ishwarlal subject to the Rules and Bye-laws of the Exchange.

14. The application dated 17-3-71 of Shri Jasvant Ramdas Dalal nominating Shri

Dolatrai Amratlal shah as a member of the Exchange in his own place was

considered and after interviewing Shri Dolatrai Amratlal Shah and his

recommender Shri Bhagwandas Suchde it was resolved by 15 votes in favour and

1 against to elect Shri Dolatrai Amratlal shah as a member of the Exchange in the

place of Shri Jasvant Ramdas Dalal subject to the Rules and Bye-laws of the

Exchange.

15. The additional report dated 17-3-71 of Sir Shapurji Broacha Brokers’ Helping

Committee was read and it was resolved that Shri Jayantilal Tulsidas should be

given help of Rs.100/- from Sheth K.R.P. Shroff Stock Exchange Sarvajanik Fund.


companies regarding cum right and ex-right trading of their shares are confirmed:

1 The Thana Electric Supply Co.Ltd. Notice No: 283/71 dt.26-2-71 2 Bajaj Auto Ltd. Notice No: 302/71 dt.2-3-71 3 The Jubilee Mills Ltd. Notice No: 353/71 dt.10-3-71 4 Voltas Ltd. Notice No: 419/71 dt.24-3-71 5 Western India Vegetable Products Ltd. Notice No: 477/71 dt.1-4-71


companies regarding permission given for dealing in Letters of Renunciation of

their new shares are confirmed:

1 Hind Cycles Ltd. Notice No: 280/71 dt.25-2-71 2 Telefunkan India Ltd. Notice No: 323/71 dt.4-3-71 3 Alembic Chemical Works Ltd. Notice No: 332/71 dt.5-3-71 4 Tata Oil Mills Co.Ltd. Notice No: 359/71 dt.11-3-71 5 Chem Pharma Ltd. Notice No: 383/71 dt.17-3-71 6 The Surat Electricity Co. Ltd. Notice No: 466/71 dt.1-4-71 7 Bombay Electric Supply Ltd. Notice No: 467/71 dt.1-4-71 8 The Thana Electric Supply Co.Ltd. Notice No: 473/71 dt.1-4-71 9 Graphite India Ltd. Notice No: 481/71 dt.2-4-71

18. Resolved to confirm the undermentioned notices:

1. Notice No:281/71 dated 25-2-71 regarding resumption of dealings in the shares

of Alembic Chemical Works Co.Ltd.

2. Notice No: 299/71 dated 1-3-71 regarding changes in the Clearing Programme.

3. Notices No:301/71 dated 1-3-71, No:355/71 dated 10-3-71 and 476/71 dated

1-4-71 regarding hand delivery transactions settlement.

4. Notice No: 357/51 dated 10-3-71 regarding continuance of cum dividend

transactions in the shares of Phalton Sugar Works Ltd., and notice no:385/71

dated 18-3-71 for making the transactions in the shares ex-dividend.

5. Notice No:402/71 dated 22-3-71 regarding giving credit slips in full Rupees

relating to hand delivery transactions.

6. Notice No:454/71 dated 30-3-71 regarding making ex-right transactions in the

shares of Bajaj Auto Ltd.

7. Notice No:486/71 dated 2-4-71 regarding 6% Preference shares of Saurashtra

Cement and Chemical Industries Ltd.

19. The letter dated 1-3-71 of S/Shri Vinaychandra Narbheram Parekh, Navinchandra

Narbheram Parekh, Kirtikumar Narbheram Parekh, Smt. Hirabai Narbheram parekh

was considered and it was resolved to give permission to Shri Vinaychandra

Narbheram parekh and Navinchandra Narbheram Parek to continue the business of

M/s Narbheram Harakchand for three months.

20. The letter dated 4-3-71 of Bai padmavati Gunvantlal Sodagar, S/Shri Rasik

Gunvantlal sodagar, Yogesh Sunvantlal Sodagar and Mayank Gunvantlal Sodagar

was considered and it was resolved to give permission to Shri Kumudchandra

Manilal to continue the business of the late Shri Manilal Dahyabhai Sodagar for

three months.

21. The letter dated 17-3-71 of Shri Ramsukh, Shri Bhamard Mohanlal and Smt.

Harpyari Mohanlal was considered and it was resolved to give permission to Shri

Akheraj Narayandas to continue the business of M/s Shivraj Mohanlal & Co., for

three months.

22. The letter of the undermentioned members was considered and it was resolved

that the permission given by the Chairman for doing business as a Representative

Member as mentioned below should be confirmed:

Nominating Member Representative Member

M/s Kantilal Purtapsi Shri Shantilal Kakalbhai

Shri Pankaj Ishwarlal Kapadia Shri G.Y. Bhandare

23. The application dated 22-2-71 of S/Shri Jayantilal Mansukhlal Dalal, Ratanlal

Mansukhlal Dalal, Bhogilal Bhaidas Dalal and Amit Ratanlal Dalal for partnership

was considered and it was resolved to approve their partnership under the firm

name of M/s Mansukhlal Bhaidas Dalal with effect from 1-1-71.

24. The Clearing programme for the months of July, August and September of the year

1971 was fixed as under:

The last working day and the Badla day

9-7-71 30-7-71 20-8-71 10-9-71

Comparison day and the Clearance Day

12-7-71 2-8-71 23-8-71 13-9-71

Delivery Day 14-7-71 4-8-71 27-8-71 15-9-71 Account Day 16-7-71 7-8-71 30-8-71 17-9-71 Pay-in Day 17-7-71 9-8-71 31-8-71 18-9-71 Settling Day 20-7-71 11-8-71 2-9-71 21-9-71

25. Resolved that on Saturday, 10-4-71 our market should be kept open from S.T. 12

to 1 for transacting business.


was unanimously resolved to note that their below-mentioned securities have been

admitted to our list of securities traded on the Exchange:

Ruby Mills Ltd. Bonus Equity Universal Cables Ltd. New Equity G.G. Dandekar Machine Works Ltd. New Equity Western India Plywoods Ltd. Bonus Equity Raymond Woolen Mills Ltd. 5000 New Equity shares allotted in lieu

of the shares of J.K. (Bombay) Ltd.



as compliance with the usual requirements and other special requirements

stipulated by us the securities mentioned against their respective names should be

admitted to our list of Non-cleared Securities and dealings in those securities

should be done in the trading lots mentioned against them:

J.K. Synthetics Ltd. Equity 100 shares J.K. Synthetics Ltd. Preference 5 shares Madhya Pradesh Electricity Board 6% 1982 Second

Series Bonds

Siemens India Ltd. Equity 50 shares Siemens India Ltd. 8% (1982-85)

debentures 10 debentures

Bombay Suburban Electric Supply Ltd.

8% ‘E’ class Debentures

5 debentures

Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Dt: 4-5-71

Tuesday, 4-5-71. A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Laldas Jamnadas, wherein the undermentioned members of the Board were present: Seth Laldas Jamnadas Seth Gordhandas Bhagwandas Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Rasiklal Maneklal Seth Jagdish J. Kapadia Seth Jayant Amerchand Seth Vasantlal Kantilal Shah Seth Jasvantlal Chhotalal Seth Balubhai Maganlal Gandhi Seth Hiralal Girdharlal Seth Mathradas Samaldas Seth Navinchandra Chhaganlal Kampani

Government Nominees Shri N.C. Maitra

Shri M.N. Deshmukh

The following business was transacted in the meeting: 1. The President made a mention of the presence of Shri N.C. Mehta in the Board

meeting after a long time, welcomed him and introduced him to the other members of

the Board.

2. Resolved that the notices regarding cum-right and ex-right transactions in the shares

of the companies mentioned below should be confirmed:

1. Poysha Industrial Co.Ltd. Notice No:531/71 dt.8-4-71 2. Chemicals and Fibers of India Ltd. Notice No:588/71 dt.15-4-71 3. T. Maneklal Manufacturing Co.Ltd. Notice No:624/71 dt.20-4-71 4. The Motor and General Finance Ltd. Notice No:724/71 dt.3-5-71


companies regarding permission for dealing in coupons of their bonus shares are

confirmed:

1. Bajaj Auto Ltd. Notice No:493/71 dated 5-4-71 2. Saurashtra Cement and

Chemical Industries Ltd. Notice No:606/71 dated 19-4-71

3. Tata Chemicals Ltd. Notice No:645/71 dated 22-4-71

4. Resolved that the notices mentioned below against the names of the specified

companies regarding stopping and or resuming transactions in their shares are

confirmed:

1. Kotak and General Finance Ltd. Notice No:579/71 dt.7-4-71 and 564/71 dt. 12-4-71

2. Sirdesai Brothers Ltd. Notice No:593/71 dt.16-4-71

5. Resolved that the notices mentioned against the names of the below mentioned

companies regarding transactions in their shares are confirmed:

1. Shree Synthetics Ltd. Notice No:609/71 dt.19-4-71 2. Hindustan Aluminum Corporation Ltd. Notice No:629/71 dt.21-4-71 3. The Indian Iron and Steel Co.Ltd. Notice No:660/71 dt.24-4-71

and Notice No:667 dt.26-4-71

4. Belapur Co.Ltd. Notice No:662/71 dt. 24-4-71 5. Alcock Ashdown & Co. Ltd. Notice No:734/71 dt.4-5-71


companies regarding deliverability of their new shares against their old shares are

confirmed:

1. Aruna Sugar Ltd. Notice No:644/71 dt.22-4-71 2. Philips Carbon Black Ltd. Notice No:665/71 dt.24-4-71 3. The Indian Dye-stuff Industries Ltd. Notice No:733/71 dt.4-5-71

7. Resolved that the undermentioned notices are confirmed :

1. Notice No:547/71 dated 10-4-71 regarding lists of the Hand Delivery

transactions.

2. Notice No:548/71 dated 10-4-71, No:551/71 dated 12-4-71, No:618/71 dated

19-4-71 and No:716/71 dated 3-5-71 regarding settlement of Hand Delivery

transactions.

3. Notice No:603 dated 17-4-71 regarding reduction of outstanding business in

Cleared securities by at least 10% in each clearing.

8. The letters of the undermentioned members were read and it was resolved to confirm

the permission given to them for doing business as Representative Members as

mentioned below:


M/s Hiralal Lilladher M/s Prabudas Lilladher

Shri Bhagwandas Keshaji Suchde Shri Dolatrai Amratlal Shah

9. The application for formation of the undermentioned partnerships were considered

and it was resolved to approve them:

Name of Partnership Firm Name of Partners Date of Partnership M/s Bhagwatiprasad Rungta

Shri Bhagwatiprasad Rungta Shri Vinodkumar Rungta

22-4-71

M/s Puranmal Bansidhar Shri Gaurishankar Puranmal Shri Satyanarayan Gaurishankar Shri Jagmohandas Gaurishankar Shri Ramswarup Puranmal

27-3-71

10. The letter dated 3-4-71 of Shri Jayantilal Jeshinglal, Bai Manibai Jeshinglal and others

were considered and it was resolved that in view of the prevailing circumstances they

should be given permission to continue the business of the late Shri Jeshinglal

Savjibhai for two more months.

11. The letter dated 30-4-71 of Shri Faramrose Hormasji Lal and Shri Faramrose Shapurji

Sukhia, executors of the will of late Shri S.D. Kerawala was considered and it was

resolved to give them permission to continue the business of the late Shri S.D.

Kerawala for one month.

12. The letter dated 26-4-71 of Shri Babubhai M. Chinoy about continuing our

membership of the Indian Chambers of Commerce and Industries was considered and

it was resolved to write to him that we are willing to continue our membership of the

Federation if the subscription of Rs.1000/- which we are paying at present continues

to remain the same and we do not have to pay subscription bigger than that.

13. The application dated 28-4-71 of Shri Narandas Gokaldas requesting for giving help

on the occasion of the marriage of his sons daughter was considered and it was

resolved to give him assistance of Rs.251/- from Sir Shapurji Broacha Brokers’

Helping Fund on that occasion.

14. The application of Bai Manglaben Shivlal shah and the letter dated 10-4-71 of the

share Bazar Staff Union were considered and it was resolved to give assistance of

Rs.500/- to Bai Manglaben Shivlal Shah from Seth K.R.P. Shroff Sarvajanik Fund.

15. For the purpose of filling in two vacancies in the Arbitration Committee a note was put

up calling for the names of the members who desired to work as members of the

Arbitration Committee. In response to that as only Shri Bhagubhai Amthalal Gandhi

and Shri Hariram Dwarkadas came forward as candidates both of them were

appointed as members of the Arbitration Committee.

16. The application dated 5-4-71 of the near relatives of the late Shri Darasha Merwanji

Master nominating Shri Keki Dinshaw Bomanji Mehta as a member of the Exchange

in the place of late Shri Darasha Merwanji Master was considered and after

interviewing Shri Keki Dinshaw Bomanji Mehta and his recommenders S/Shri

Champaklal Devidas and J.P. Gandhi it was resolved by 12 votes in favour and none

against to elect Shri Keki Dinshaw Bomanji Mehta as a member of the Exchange in

the place of late Shri Darasha Merwanji Master subject to the Rules and Bye-laws of

the Exchange.

17. The application dated 2-4-71 of the near relatives of the late Shri Chimanlal

Jeshingbhai Damodardas nominating Shri Jeravdas Dulomal Jasnani as a member of

the Exchange in the place of late Shri Chimanlal Jeshingbhai Damodardas was

considered and after hearing him the matter was postponed.

18. The letter dated 25-2-71 of the Institute for Financial Management and Research

seeking assistance was read and that matter was postponed.

19. The listing applications of the undermentioned companies were considered and it was

unanimously resolved to confirm admission of their below mentioned securities to our

list of securities quoted on the Exchange:

Blue star Limited New Equity Tata Chemicals Ltd. Bonus Equity Philips Carbon Black Ltd. Bonus Equity Jyoti Limited New Equity Indian Dyestuff Industries Ltd. Bonus Equity

20. The listing application dated 16-4-71 of the Gujarat Electricity Board was considered

and it was resolved to admit its 6% 1982 Bonds to our list of Non-Cleared Securities.

21. The listing application of Ferro Alloys Corporation was considered and it was resolved

to admit its new equity shares and 7.75% Debentures of the Face Value of Rs.500/-

each to our list of Non-Cleared Securities and dealings therein should be made in lots

of 5 shares and units of Rs.500/- each respectively.

22. The listing applications of Shama Engine Valves was considered and it was

unanimously resolved that subject to the Listing Rules and Regulations as well as

compliance with the usual requirements and other special requirements stipulated by

us its new Equity Shares should be admitted to our list of Non-cleared Securities and

dealings therein should be made in lots of 50 shares each.


Monday, 14-6-71. A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Shri Laldas Jamnadas wherein the undermentioned members of the Board were present: Seth Laldas Jamnadas Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth A.R. Mahadevia Seth Rasiklal Maneklal Seth Vasantlal Kantilal Shah Seth Jayant Amerchand Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Mathradas Samaldas Seth Hiralal Girdharlal Seth Navinchandra Chhaganlal Kampani Seth Vasantlal Jivatlal Seth Himatlal V. Gandhi Seth Vasantlal Champaklal



companies regarding cum right and ex-right trading of their shares are confirmed:

1 Fibre Glass Pelkigton Ltd. Notice No: 769/71 dt. 7-5-71 2 Saurashtra Cement and Chemical

Industries Ltd. Notice No: 837/71 dt.15-5-71

3 Jayant Paper Mills Ltd. Notice No: 875/71 dt.20-5-71 4 Maharaja Goculdas Spg. & Wvg., Co.Ltd. Notice No: 903/71 dt.25-5-71 5 Ahmedabad Advance Mills Ltd. Notice No: 904/71 dt.25-5-71 6 The Baroda Rayon Corporation Ltd. Notice No: 960/71 dt.2-6-71


companies regarding permission given for dealing in Letters of Renunciation of their

new shares are confirmed:

1 Western India Vegetable Products Ltd. Notice No: 765/71 dt.5-5-71 2 The Motor and General Finance Ltd. Notice No: 940/71 dt.1-6-71 3 Chemicals and Fibres of India Ltd. Notice No: 907/71 dt.25—5-71 4 Poysha Industrial Estates Ltd. Notice No: 962/71 dt.3-6-71 5 Voltas Ltd. Notice No: 968/71 dt.3-6-71 6 Saurashtra Cement and Chemical

Industries Ltd. Notice No: 988/71 dt.7-6-71


companies regarding cum dividend and ex-dividend transactions in their shares are

confirmed:

1 National Rayon Corporation Ltd. Notice No: 749/71 dt. 4-5-71 and Notice No:816/71 dated 14-5-71.

2 Bombay Oxygen Corporation Ltd. Notice No: 766/71 dt.5-5-71 and Notice No:864/71 dt. 19-

5-71. 3 Bank of Maharashtra Ltd. Notice No: 768/71 dt. 6-5-71 4 New India Assurance Co. Ltd. Notice No: 783/71 dt.11-5-71 5 Hindustan Ideal Insurance Co. Ltd. Notice No: 822/71 dt.14-5-71


1. Notice No:765/71 dated 5-5-71 regarding permission given for dealing in coupons

of the bonus shares of Western India Vegetable Products Ltd.

2. Notice No: 809/71 dated 13-5-71 regarding settlement of transactions in the

shares of Excel Industries Ltd.

3. Notices No:677/71 dated 21-5-71 regarding settlement of transaction in the shares

of Garware Nylons Ltd.

4. Notice No: 831/51 dated 15-5-71 regarding transactions in the shares of General

Insurance Companies.

5. Notice No:860/71 dated 18-5-71 regarding programme of Buyers’ Tickets.

6. Notice No:884/71 dated 24-5-71 regarding changes in the clearing Programme.

7. Notice No:897/71 dated 25-5-71 and Notice No: 1018/71 dated 12-6-71 about

changes made in the time for doing business in the market.

8. Notice No:948/71 dated 31-5-71 about calling for lists of transaction in shares

which are settled by Red and Black forms relating to tickets.

9. Notice No: 968/71 dated 3-6-71 regarding permission given for dealing in coupons

of the bonus shares of Voltas Ltd.

10. Notice No:1012/71 dated 11-7-71 about stopping transactions in the shares of

Osman Sahi Mills Ltd.

5. Resolved that in the undermentioned arbitration matters between members and non-

members the time for giving awards should be extended as mentioned against them:

Arbitratin Reference

No:

Name of Parties Extension of time for giving award.

1 N 61 of 61 Vijaykumar V. Ruiya v/s M/s S.R. Dalmia Upto 19-6-71 2 N 53 of 63 Kantilal Jivanlal Vakharia v/s Chimanlal

Manilal Ghiwala Upto 10-6-71 and thereafter upto 10-7-71

3 N 68 of 63 Kishorilal Thakarsdas Poddar v/s Smt. Shantadevi Maneklal

Upto 27-5-71 and thereafter upto 27-6-71

4 20 of 66 Joyuntilal Koticha v/s Arvind Nyalchand Shah


5 32 of 67 Shri Narayan Durgadatta Sarmalka v/s C.R. Loyalka

Upto 18-6-71

6 41 of 68 Chandulal Chunilal & Co. v/s Madanlal Podar


7 6 of 69 M/s Narendrakumar Bhogilal & Co v/s Makhanlal Chhaganlal Damani

Upto 12-5-71 and thereafter upto

12-6-71 8 M/s Champaklal Jamnadas v/s J.N. Bahl Upto 20-5-71 and

thereafter upto 20-6-71

9 15 of 69 Girdharlal Amulakh Shah v/s Shanitlal Rajpal Mehta

Upto 26-6-71

10 20 of 69 M/s Sumatilal Jamnalal v/s Ashok Investment Corporation Pvt.Ltd.


11 20 of 70 K.J. Shah and Sons v/s N.C. Doshi Upto 22-5-71 and thereafter upto 22-6-71

12 4 of 70 M/s Champaklal Jamnadas v/s Nimji Alibhai


13 6 of 71 M/s Shivraj Mohanlal & co. v/s R.C. Agarwal

Upto 7-6-71

14 15 of 70 M/s G.K. fozdar v/s Keki Gandhi Upto 28-2-71 thereafter upto 29-3-71 thereafter upto 29-4-71 thereafter upto 29-5-71 thereafter upto 29-6-71.

15 25 of 70 M/s Puranmal Bansidhar v/s M/s Vishwanath Todi


16 26 of 70 Shankar Vaikunth shanbag v/s S.R. Ketkar & sons

Upto 18-6-71

17 8 of 68 Basudev Narayandas v/s Bisesarlal Mittal Proprietor of M/s Mukul Bisesarlal and Jaygopal Bansilal Ojha

Upto 17-6-71

6. Resolved that in the arbitration reference between Laxmidas Lilladhar Shah and

Dabchand B. Sheth, Shri Dabchand B. Sheth should be given extension of time upto

1-7-71 for appointing an arbitrator.

7. Resolved that in the arbitration reference between members and non-members

mentioned below appointment of arbitrators should be made as follows:

Arbitratin Reference

No:

Name of Parties Name of the Party on

whose behalf Arbitrator if appointed

Arbitrators’ name

1 2 of 71 M.B. Maratha v/s M/s S.R. Ketkar & Sons

S.R. Ketkar & sons

Shri Jayant Amerchand

2 3 of 71 M/s Vadilal Rajpal Mehta v/s M/s Chunara Brothers

M/s Chumara Brothers

Shri C.M. Shah

3 4 of 71 M/s Jamnalal Ma v/s Dhri Mohammed Chunara

Shri Mohammed

Shri Jayantilal M.

Chunara Dala 4 6 of 71 Nagardas Ravji v/s Narsinhbhai

M. Patel Narsinghbhai Patel

Shri N.T. Parekh

8. Resolved that as Shri M.C. Mehta an Arbitrator in the arbitration matter between

Kantilal Amthalal Shah, Harichand Maheshwari has expired Shri V.K.Shah is appointed

as an Arbitrator in that vacancy.

9. The application dated 4-6-71 of Shri S.M. Danda of our office staff asking for help for

paying college fee of the first term of Junior B.Com. was considered and it was

resolved to give him assistance of Rs.175/- for that purpose from Seth K.R.P. Shroff

Stock Exchange Sarvajanik Fund.

10. The application for help dated 26-5-71 of S.K. Patel Arogyadham and that dated 8-4-

71 of Bedi Parattarijan Youvak Mandal were considered and it was resolved that no

help can be given to them.

11. The letter dated 18-5-71 of S/Shri Vinaychandra Narbheram Parekh, Navinchandra

Narbheram Parekh and Kirtikumar Narbheram Parekh, shri Hirakumar Narbheram

Parekh and Ms. Neelam Narbheram Parekh was considered and it was resolved to give

permission to continue the business of M/s Narbheram Harakchand for two more

months.

12. The letter dated 25-5-71 of Bai Padmavati Gunvantlal and S/Shri Rashmi Gunvantlal

Sadagar, Yogesh Gunvantlal Sadagar, and Mayank Gunvantlal Sadagar was

considered and it was resolved to give permission to Shri Kumudchandra Manilal

Sadagar to continue the business of the late Shri Manilal Dahyabhai Sadagar for two

more months.

13. The letter dated 3-6-71 of Bai Sarla Manilal Marfatia and Shri P.N. Marfatia was

considered and it was resolved to give permission to Shri K.N. Marfatia for continuing

the business of the late Shri M.N. Marfatia for three months.

14. The application for formation of the undermentioned partnerships were considered

and it was resolved to approve them:

Name of Partnership Firm Name of Partners Date of Partnership M/s Kanji Lilladhar Shri Kanji Lilladhar

Shri Krishnakumar Kanji Bhatia Shri Mansinga Kanji Bhatia Shri Rashmi Kanji Bhatia

26-2-71

M/s Darasha & Co. Shri Keki Darasha Mehta Shri Abhay Dharamsi Narottam

2-6-71

M/s Chimanlal Mohanlal Shah

Shri Chimanlal Mohanlal Shah Shri Mahendra Chimanlal Shah

21-6-71

15. The application dated 17-4-71 of Shri Framroze Dadabhoy Madon nominating Shri

Pradip Harkisondas as a member of the Exchange in his own place was considered

and after interviewing Shri Pradip Harkisondas and his recommenders S/Shri F.N.

Kapadia and Rameshchandra Lallubhai Choksey it was resolved by 13 votes in favour

and none against to elect Shri Pradip Harkisondas as a member of the Exchange in

the place of Shri Framroze Dadabhoy Madon subject to the Rules and Bye-laws of the

Exchange.

16. As the Stock Exchange Directory and Publication of advertisement therein are now

under the control of The Stock Exchange Foundatin and The Stock Exchange

Education and Research Services respectfully, it was resolved that the arrangements,

management and the work in respect thereof which were with the Stock Exchange

should be continued by the Trustee of the aforesaid Foundation and Services.

17. Resolved that recommendation should be made to the General Body for appointment

of Shri Dhirajlal Maganlal as a Trustee of the Exchange in the vacancy caused by the

demise of Shri Kantilal Ishwarlal.

18. Unanimously resolved that as the Preference Shares shown against the names of the

undermentioned companies are being redeemed they should be removed from the list

of securities traded on the Exchange.

Saurashtra Cement and Chemical Industries Ltd. -- 6% Redeemable Cumulative

Preference shares

Hind Cycles Ltd. --- 8.5% Preference Shares

19. The letter dated 12-5-71 of Mahalaxmi Fibres and Industries was considered and it

was unanimously resolved to remove its shares from our list of securities traded on

the Exchange.

20. The listing applications of the undermentioned companies were gone through and it

was unanimously resolved to confirm listing of their securities mentioned against their

respective names here-in-under:

United Motors (India) Ltd. Bonus Equity Mafatlal Fine Spg. And Mfg. Co.Ltd. Bonus Equity Alembic Glass Industries Ltd. Bonus Equity Western India Vegetables Products Ltd. Bonus Equity Amar Dyechem Ltd Bonus Equity Estrella Batteries Ltd. New Equity Bajaj Auto Ltd. Bonus Equity The Tata Oil Mills Ltd. New Equity Swastik Rubber Products Ltd. New Equity Bombay Suburban electric Supply Co.Ltd. New Equity Incheck Tyres Ltd. New Equity

21. The listing applications of the undermentioned companies were considered and it was



us the securities mentioned against their names should be admitted to our list of Non-

cleared Securities traded on the Exchange and dealings in those securities should be

done in the trading lots mentioned there against:

The Cochin Malabar Estates Ltd. Equity 100 shares The Cochin Malabar Estates Ltd. Preference 10 shares Swadeshi Polytex Ltd. Equity 50 shares Swadeshi Polytex Ltd. Preference 5 shares

Bihar Alloy Steels Ltd. Equity 50 shares Bihar Alloy Steels Ltd. Preference 5 shares Y.G. Rubber Products Ltd. Equity 50 shares Y.G. Rubber Products Ltd. Preference 5 shares The Aluminum Industries Ltd. 8% Debentures 5 debentures

Sd/- Sd/- A.J. Shah Rasiklal Maneklal Secretary President Dt: 13-7-71

Monday, 28-6-71. A meeting of the Governing Board of the Stock Exchange was held today at S.T. 1.00 pm under the Chairmanship of Shri Laldas Jamnadas wherein the undermentioned members of the Board were present: Seth Laldas Jamnadas Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Jagdish J. Kapadia Seth Rasiklal Maneklal Seth A.R. Mahadevia Seth Jayant Amerchand Seth Vasantlal Kantilal Shah Seth Jasvantlal Chhotalal Seth Babubhai Maganlal Gandhi Seth Hiralal Girdharlal Seth Mathradas Samaldas Seth Gordhandas Bhagwandas Seth Navinchandra Chhaganlal Kampani Seth Vasantlal Jivatlal Seth Himatlal V. Gandhi Seth Vasantlal Champaklal


The following business was transacted in the meeting: 1. The President made a painful mention of the sad demises of our patron and great

guide Shri K.R.P. Shroff and paid loving tributes for the unique services rendered to

the Association for almost 50 years. Thereafter, the Board stood up, prayed for the

peace of the pious soul of Shri K.R.P. Shroff observing silence for two months and

passed the following Resolution:

“ Resolved that this Board takes note of the painful demise of our Patron and life long

guide Seth K.R.P. Shroff and expressed its feeling of great pain, grief and sadness.

This Board also notes with gratitude the unique services rendered by the deceased to

our Exchange as Hon-Secretary, Treasurer and Trustee and as elected President

continuously for 43 years and pay its respectful tributes to him. During the longtime

of his Presidentship whenever acute crisis took place in our market on account of wars

or any other extraneous developments he had led our market successfully out of

such situations with his tactfulness, expertise and experience, safeguarding the

interest of the whole market and the investors.

He had earned the love and affection off all people working in the market and get

respect, recognition and honor as that of a respected faculty head with his sparking

personality endowed with multi merit like truth, integrity, honesty selfness dedication

to duty, zeal, indomitable work energy and courage it is all because of him that our

market has been enjoying an unique and honorable recognition for years by the

Government and people. It will never be possible to fill up the great void that has

occurred in our market due to his demise. This Board expresses its deep sense of

grief anguish and stress it will formerly nerveless of the demised and request the

President to send a copy of this resolution to them as a them of our condolences.

2 Resolved that our market should be kept entirely close for all kind of business on

Tuesday 29-6-71 in honour of the Seth KRP Shroff and on that day a condolence

meeting of all the people working in our market should be held of ST. 12 noon to

mourn his death and pay him tributes.

Further resolved that as it has been decided to keep our market closed on Monday 28-

6-71 and Tuesday 29-6-71 in honour of the memory of the late Seth KRP Shroff , the

market should be kept open for doing business from ST. 12 noon to 1 PM

Sd/- Sd/- A.J. Shah Rasiklal Maneklal Secretary President Dt: 13-7-71

Tuesday, 13-7-71

A meeting of the Governing Board of the Stock Exchange was held today at ST. 3.00

PM. Under the Chairmanship of Seth Rasiklal Maneklal, wherein the under mentioned

members of the Board were present:

Shri Rasiklal Maneklal Shri J. R. Motishaw

Shri Phiroze J. Jeejeebhoy Shri Jagdish J. Kapadia

Shri Jayant Amerchand Shri A. R. Motishaw

Shri Jasvantlal Chhotalal Shri Vasantilal Kantilal Shah

Shri Hiralal Girdharialal Shri Babubhai M. Gandhi

Shri Gordhandas Bhagwandas Shri Mathradas Samaldas

Shri Vasantlal Jivatlal Shri Navinchandra Chhagnlal Kampani

Shri Vasantlal Chamapaklal

Government Nominees

Shri M. N. Deshmukh

The following business was transacted in the meeting

1 Resolved that the notices mentioned against the names of the below mentioned

companies regarding cum-rights and ex-right transaction in their shares are

confirmed:

1 The Motor & General Finance Ltd. Notice No. 1080/71 dt, 25-6-71

2 Shri Dinesh Mills Ltd. Notice No. 1105/71 dt. 1-7-71

3 Permanent Magnets Ltd. Notice No. 1112/71 dt. 2-7-71

4 Fit Tight Nuts and Bolts Ltd. Notice No. 1127/71 dt. 5-7-71

2 Resolved that the under mentioned notes should confirmed

1 Notice No. 1068/71 dated 23-6-71 regarding keeping the market closed

on 23-6-71

2 Notice No. 1069/71 dated 24-6-71 and Notice no. 1072/70 dated 25-6-

71 regarding settlement of Hand Delivery transactions

3 Notice No. 1070/71 dated 25-6-71 regarding changes in the Clearing

programme

4 Notice No. 1074/71 dated 25-4-71 regarding Settlement of transaction in

the shares of Siemens (India) Ltd.

5 Notice No. 1085/71 dated 28-6-71 regarding keeping the market closed

on 28-6-71 in honour of the late Seth KRP Shroff on account of his

demise.

6 Notice No:1091 dated 30-6-71 regarding Buyers Tickets.

7 Notice No:1152/71 dated 8-7-71 regarding permission given for dealing

in Letters of Renunciation and coupons of the new equity shares of

Ahmedabad Advace Mills Ltd.

3 The application dated 12-5-71 of Shri Namdeo Bhikaji for giving him help in

respect of the expenses incurred by him during his illness was considered and it

was resolved to give him assistance of Rs.500/- from Seth KRP Shroff Stock


4 The application dated 27-4-71 of Shri Pandurang Gopal of our office staff was

considered and it was resolved to give him help of Rs.175/- from Seth KRP


5 The letter dated 17-6-71 of our Clearing House Nayat Janu Jarappa Kotian

regarding his retirement after having served for 48 years was read and taken

note of.

6 Resolved that in the undermentioned arbitration references the time for giving

the award is extended as stated against each of the reference :

Arbitration Reference No:

Names of Parties The date upto which the time for giving the award is extended upto:

8 of 68 Basudev Narayandas v/s Bissesar Dayal Mittal, M/s Mukutlal Bissesar Dayal and Jaigopal Bansilal Oza

17-71-71

20 of 66 Joyuntilal Koticha v/s Arvind Nyalchand Shah

18-7-71

26 of 70 Shankar Vackunth Shanbhag v/s S.R. Ketkar & sons

18-7-71

32 of 67 Shivnarayan Durgadatt Sanvalka v/s C.R. Loyalka

18-7-71

61 of 61 Vijaykumar V. Ruia v/s S.R. Dalmia 19-7-71 100 of 69 M/s Champaklal Jamnadas v/s J.N.

Bahl 20-7-71

25 of 70 M/s Puranmal Bansidhar v/s Vishwanath Todi

23-7-71

15 of 69 Girdharlal Amulakh shah v/s Shantilal Rajpal Mehta

26-7-71

23 of 67 M/s Hill and Rock v/s M/s J.r. Motishaw & Co.

1-8-71

41 of 68 Chandulal Chunilal & Co. v/s madanlal Poddar

4-8-71

4 of 70 M/s Champaklal Jamnadas v/s Nimji Alibhai

4-8-71

20 of 69 M/s Sumatilal Jamnalal v/s Ashok Investment Corporation Pvt.Ltd.

5-8-71

53 of 63 Kantilal Jivanlal Vakharia v/s Chunilal Manilal Gheewala

10-8-71

2 0f 71 K.J. Shah and Sons v/s N.C. Desai 22-7-71

7 Resolved that as Shri Dalichand B. Sheth has failed to appoint an Arbitrator on

his behalf in the Arbitratior Reference betwwn Shri Laxmidas Lilladher Shah and

Shri Dalichand B. Sheth, Shri Jayantilal R. Khandwala is appointed as an

Arbitrator on his behalf.

8 The Clearing programme for the month of October, November and December of

the year 1971was fixed as under:

The last working day and the Badla day

1-10-71 22-10-71 5-11-71 26-11-71 10-12-71

Comparison Day and Clearance Day

5-10-71 25-10-71 8-11-71 29-11-71 13-12-71

Delivery Day 7-10-71 27-1-71 10-11-71 1-12-71 15-12-71 Account Day 9-10-71 29-10-71 12-11-71 3-12-71 17-12-71 Pay-in Day 11-10-71 30-10-71 13-11-71 4-12-71 18-12-71 Settling Day 13-12-71 2-11-71 16-11-71 7-12-71 21-12-71

9 The application dated 2-4-71 of the near relatives of the late Shri Chimanlal

Jeshingbhai Damodardas nominating Shri Jeramdas Dulomal Jashmani as a

member of the Exchange in the place of late Shri Chimanlal Jeshingbhai

Damodardas was considered and after interviewing Shri Jeramdas Dulomal

Jeshmani and his recommenders S/Shri Ramniklal Mohanlal and B.M. Chokshi

it was resolved by 14 votes in favour and none against to elect Shri Jeramdas

Dulomal Jeshmani as a member of the Exchange in the place of late Shri

Chimanlal Jeshingbhai Damodardas subject to the Rules and Bye-laws of the

Exchange on the condition that he should not do business in the market in his

own name until 8-10-72.

10 The application dated 21-6-71 of the near relatives of late Shri Narbheram

Harakchand Parekh nominating Shri Vinaychandra Narbheram Parekh as a

member of the Exchange in the lace of the late Shri Narbheram Harakhchand

Parekh was considered and after interviewing shri Vinaychandra Narbheram

Parekh and his recommenders S/Shri Champaklal Jamnadas Parekh and Jayant

C. Parekh it was resolved by 14 votes in favour and none against to elect Shri

Vinaychandra Narbheram Parekh as a member of the Exchange in the place of

late Shri Narbheram Harachand Parekh subject to the Rules and Bye-laws of the

Exchange

11 Resolved that the Stock Exchange Education and research Securities and the

Stock Exchange Foundation should have the history of the Stock Exchange

written by one or two experts and should get it provided and necessary

arrangements and express should be most thereof.

12 The matter regarding conversion of the Stock Exchange official Directory from

the present five volume to 18 volumes and for that the required spring-book

binder plastic gaskets, book mark and the expenses etc. was discussed and it

was resolved that the `necessary arrangement and expenses therefore should

be done.

13 The listing applications of the under mentioned companies was considered and it

was resolved to confirm the permission given for listing their securities

mentioned below against their respective names.

The Surat Electricity Company Limited New Equity

The antifriction Bearings corporation

Limited

97555 new equity shares allotted

to Foregi Collaborators

Ratnakar Shipping Company Limited New Equity

Uttar Pradesh Hotels LImited New Equity and New Preference

The Jubily Mills Limited Bonus Equity

14 The listing applications of the under mentioned companiew were considered and

it was unanimously resolved that subject to the Listing Rules and Regulations

and the Compliance with the usual requirements and the other special

requirement stipulated by us, their securities mentioned against their names

below should be admitted to our list non cleared securities and dealings in the

securities should be done in the loots specified against them.

Gujarat Polyamides Limited ‘A’ Equity Shares of Rs. 100 Each

5 Shares

Gujarat Polyamides Limited ‘B’ Equity Shares of Rs. 10 Each

50 Shares

Gujarat Polyamides Limited Preference 5 Shares Deepak Nitrite Limited Equity 50 Shares Deepak Nitrite Limited Preference 5 Shares Polysteel Limited Equity 50 Shares Chemicals & Fibres of India Limited

New Equity 50 Shares

Straw Products Limited 9.3% Redeemable Preference Shares

5 Shares

Madhya Pradesh Electricity Board

6% 1983 Bonds

Sd/- Sd/- A J Shah Laldas Jamnadas (Secretary) (President)

16-8-71

Monday, 16-8-71 Meeting of the Governing Board of the Stock Exchange was held today at ST 3.00 p.m. under the Chairmanship of Seth Laldas Jamnadas, wherein the under mentioned members of the Board were present.

Shri Laldas Jamnadas Shri Vasantlal Jivatlal Shri Phiroze J. Jeejeebhoy Shri J R Motishaw Shri Jayant Amerchand Shri Vasantlal Kantilal Shah Shri Jaswantlal Chhotalal Shri B M Gandhi Shri Hiralal Girdharlal Shri Mathradas Samaldas Shri Gordhandas Bhagwandas Shri Navinchandra Chhaganlal Kampani

Government Nominees Shri M N Deshmukh

The following business was transacted at the meeting.

1 Resolved that the notices mentioned against the name of the under mentioned companies regarding cum rights and ex rights transactions in their respective shares are confirmed.

The Industrial Credit and Investment Corporations of India Limited

Notice No. 1163/71 dated 10-7-71

Thakkar and Company Notice No. 1169/71 dated 12-7-71

Adarsha Chemicals and Fibres Limited Notice No. 1298/71 dated 2-8-71

Bombay Malleable and Iron Castings and Industries Limited


2 Resolved that the under mentioned notices are confirmed:

1 Notice No. 1187/71 Date 16-7-71 regarding stoppage of dealing in the shares of Proteins India Limited

2 Notice No 1205/71 Dated 19-7-71, No. 1217/71 Dated 21-7-71 and No. 1260/71 Date 28-7-71 regarding settlement of hand delivery transactions of 7 kinds of shares.

3 Notice No. 1272/71 Dated 30-7-71 and No. 1316/71 dated 3-8-71 regarding changes in the charges in the clearing programme.

4 Notice No. 1283/71 Dated 31-7-71 regarding permissions given for dealing in letters of renunciations and coupons of the new Equity Shares of Permanent Magnet Limited

5 Notice No. 1284/71 dated 31-7-71 regarding permission given for dealing in the letters of renunciation of the new Equity shares, and bonus shares of Shri Dinesh Mills Ltd.

6 Notice No. 1313/71 dated 5-8-71 regarding declaration of 13-8-71 as the Association Holiday of Gokulashtami

7 Notice No. 1368/71 dated 12-5-71 regarding declaration on 13-8-71 as the Association Holiday of Gokulashtami

8 Notice No. 1368/71 dated 12-8-71 regarding permission given for dealing in Coupons of the bonus equity shares of Fit Fight Nuts

Bolts Ltd.

3 Resolved that the Notices mentioned below against the name of the undermnetioned Companies regarding permissibility of delivery of their and shares against their old names are approved

1 Jyoti Ltd. Notice No. 1207/71 dated 2 Swastik Safe Deposit and

Investment Ltd. Notice No. 1346/71 dated 6-8-71

3 The Tata Oil Mills Ltd. Notice No. 1243/71 dated 23- 4 Indrabator Ltd. Notice No. 1355/74 dated 10- 5 Escorts Ltd. Notice No. 1361/71 dated

4 The application dated 10-8-71 signed by Shri Kantilal Mohanlal and 50 other members was considered and it was resolved to fix Wednesday, 25-8-71 as the Association Holiday of Samvatsari.

5 Resolved that in the under mentioned Arbitration References between members and Non-members, the time for giving the award should be extended as stated against respective references: Arbitratin

Reference No:

Name of Parties Extension of time for giving

award. 1 200 of

1966 Joyuntilal Koticha v/s Arvind Nyalchand Shah

17-8-71

2 8 of 9686 Basudev Narayandas v/s Bissesar Daya proprietor of M/s Mukutlal Bissesar Dayal and Jaygopal Bansilal Ojha

17-8-71

3 32 of 1967 Shivnarayan Durgadatt Sonvata v/s C.R. Loyalka

18-8-71

4 26 of 1970 Sankar Vaikuth Shanbhag v/s S.R. Kothari & Sons

18-8-71

5 N61 of 1961

Viaykumar Vishwambharlal Ruiya v/s M/s S.R.Dalmiya

19-8-71

6 10 of 1969 M/s Champaklal Jamnadas v/s J.N. Baht

20-8-71

7 1 of 1971 Omkarlal R. Bohra v/s C.M. Shah 22-8-71 8 25 of 1970 M/s Puranmal Bansidhar v/s

Vishwanath Todi 27-8-71

9 15 of 1969 Girdharlal Amulakh Shah v/s Shantilal Rajpal Mehta

26-8-71

10 N68 of 1963

Kishorilal T. Poddar v/s Smt. Shantadevi Maneklal

27-8-71

11 15 of 1970 M/s G.K. Fozdar v/s Shri Keki Gandhi 29-8-71 12 23 of 1967 M/s Hill & Rock and M/s J.R.

Motishaw & Co. 1-9-71

13 41 of 1968 M/s Chandulal Chunilal & Co. v/s 4-9-71

Madanlal Poddar 14 4 of 1971 M/s Champaklal Jamnadas v/s

Nimjee Alibhoy 4-9-71

15 N53 of 1963

Kantilal Jivanlal Vakharia v/s Chunilal Manilal Gheewala

4-9-71

6 Resolved that as in the Arbitratin Reference between Bhagwatiprasad Omkarwal Roongta and M/s Indian Trades and Finance Ltd., the latter has failed to appoint an Arbitrator on its behalf hence Shri B.M. Gandhi is appointed as an Arbitrator on its behalf.

7. Resolved that as M/s S.R. Ketkar & Sons have failed to appoint an Arbitrator on their behalf in the Arbitration Reference between Shri Bhagwat Gajanan Purohit and M/s S.R. Ketkar & Sons, Shri Jayant Amerchand is appointed as an Arbitrator on behalf of M/s S.R. Ketkar & Sons.

8 The applications of the undermentioned organizations for help was considered and it was resolved to give each of them assistance of Rs.101/- from the Association Fund: The Poona School and Home for the Blind. The Deaf and Dumb School, Sholapur. The Bassin Blind Relief Association.

9 The application dated 23-7-71 of Shri P.P. Dube of our office staff was considered and it was resolved to give him assistance of Rs.155/- from Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund for tuition fee and buying books for Accountancy course.

10 The application dated 23-7-71 of Shri S.M.Davda of our office staff was considered and it was resolved to give him assistance of Rs. 79/12 from Seth KRP Shroff Stock Exchange Sarvajanik Fund for purchasing books for studying B.Com.

11 Resolved that help of Rs. 5001/- should be given to Sharebazar Hitwardhak Kendra from Seth KRP Shroff Stock Exchange Sarvajanik Fund.

12 Resolved to confirm the permission given for working as a Representative Member as mentioned below:

Nominating Member Representative Member M/s Ramniklal Mohanlal Shri Jeramdas Dulomal Jasnani M/s Balubhai Tribhovandas Parekh Shri Lalitkumar R. Sheth

13 The application dated 30-7-71 of S/Shri Vinaychandra Narbheram Parekh, Navinchandra Narbheram Parekh for partnership amongst them was considered and it was resolved to approve their partnership under the firm name of M/s Narbheram Harakchand Parekh with effect from 30-7-71.

14 The letter dated 19-7-71 f Shri Mohanlal Sakarchand giving his nephew Shri Shantichand Babubhai Jhaveri authority to deal with his membership right after his demise was considered. The Board took note thereof and resolved that the Board at that time would do the needful in that matter.

15 Resolved that with a view that all the construction work of our nw building could be started simultaneously from the foundation, non permanent facilities should be made by doing temporary construction over a portion of the trading hall and that work should be got done by a contractor for which necessary expenses should be incurred.

16 The application dated 9-6-71 of the near relatives of late Shri Mohanlal Ramsukh nominating Shri Bhavarlal Mohanlal as a member of the Exchange in the place of the late Shri Mohanlal Ramsukh was considered and after interviewing Shri Bhavarlal Mohanlal and his recommenders S/Shri Champaklal Devidas and Dhirajlal Girdharlal it was resolved by 10 votes in favour and one against to elect Shri Bhavarlal Mohanlal as a member of the Exchange in the place of late Shri Mohanlal Ramsukh subject to the Rules and Bye-laws of the Exchange .

17 The application dated 6-7-71 of the near relatives of late Shri Jayantilal Harjivandas nominating Shri Sanjay Jayantilal as a member of the Exchange in the place of the late Shri Jayantilal Harjivandas was considered and after interviewing Shri Sanjay Jayantilal and his recommenders S/Shri Dhirajlal Girdharlal and Champaklal Jamnadas it was resolved by 11 votes in favour and none against to elect Shri Sanjay Jayantilal as a member of the Exchange in the place of late Shri Jayantilal Harjivandas subject to the Rules and Bye-laws of the Exchange on the condition that for two years he should not do business in the market in his own name.

18 The Report, Income and Expenditure Account and the Balance Sheet of our Association fro the year 1970 were passed.

19 The letter dated 10-8-71 of our Auditors M/s S.B. Bilimoria & Co., asking for increase of the Annual remuneration being given to them was considered and it was resolved to recommend to the Governing Body that their remuneration for auditing the accounts of our Association should be increased and they should be paid Rs. 3000/- p.a.

20 The listing applications of the undermentioned companies were considered and it was unanimously resolved to confirm the approval given for admission of their respective securities mentioned against their names below to our list of securities traded on the Exchange: Voltas Ltd. Bonus equity Thana Electric Supply Co.Ltd. New equity T. Maneklal Co. Ltd. Bonus equity Saurashtra Cement and Chemical Industries Ltd.

Bonus equity

Hindustan Motors Ltd. Bonus equity Madhusudan Ltd. ‘A’ and ‘B’ Bonus equity

21 The listing application of Premier Synthetic Processors Ltd., was considered and it was unanimously resolved that subject to the Listing Regulations and other special requirements stipulated by us, the Equity and Preference shares be admitted to our list of Non-Cleared Securities traded on the Exchange and dealings therein should be done in the trading lots of 50 shares and 5 shares each respectively.

22 The letter dated 10-8-71 of Pyrotenax India Ltd., was read and it was unanimously resolved that as the Company has been taken into voluntary liquidation its shares should be removed from our list of securities traded on the Exchange.

23 “ RESOLVED that subject to the approval of the Central Government the following amendments be and are hereby made in the Rules contained in the Stock Exchange Rules Byelaws and Regulations 1957:

In Rule 4(v), after the word “or disposed of “ the word “or otherwise deal with’ shall be added. In the Rule 4(vi), before the semicolon at the end, the following shall be inserted namely,

‘and in particular by the issue of debentures , debenture stock, bonds and other securities, provided always and it is hereby expressly declared as an original and fundamental condition of any such borrowing and raising of moneys that in all cross and under all circumstances any persons claiming payment whether of principal or interest or otherwise howsoever in respect of the money so borrowed and raised shall be entitled to claim such payment only out of the funds, properties and other assets of the Exchange which alone shall be and shall be deemed to be liable to answer and make good all claims and deemed whatsoever under and in respect of the moneys so borrowed or raised and not the personal funds, properties and other assets of all or any one or more of the Trustees of the Exchange or Members of the Governing Board or members of the Exchange, their or his heirs, executors, administrators, successors and assigns who shall not and shall not be deemed to in anywise incur any personal liability or render themselves or himself personally subject or liable to any claim or demands or be charged under and in respect of the moneys so borrowed or raised, and in the event of the funds, properties and other assets of the Exchange being insufficient to satisfy the claims of all persons claiming payment as aforesaid, the right of any such person shall be limited to and he shall not be entitled to claim anything more than his part or share of such funds, properties and other assets of the Exchange in accordance with the terms and conditions on which the moneys have beenso borrowed or raised.”

In Rule 74, for the word “ determine and sanction”, the words “determine, authorize and sanction” shall be substituted; and in clause (vi) of the said Rule, for the words “ borrowing or raising of any monies”, the words “borrowing and raising, subject to the provisions of Rule 4(vi), of any monies’ shall be substituted. In Rule 91, for the words “funds and properties:, the words “funds properties and other assets’ shall be substituted. Rule 93 shall be renumbered 93(a), and after the Rule so renumbered, the following shall be inserted, namely:

Delegation (b.) The Trustees for the time being way think ft expedient delegate by

power of attorney or otherwise to the Governing Board or any person or person (including any office-bearers or officers of the Exchange) or company or fluctuating body of persons ( whether being a Trustee of the Exchange or not) all or any of the Trusts, powers and discretions vested in them and such delegation may be made upon such terms and conditions and subject to such regulations including power to sub-delegate as the Trustees may think fit and the Trustees shall not be

bound to supervise the proceeding of or be in anywise responsible for any loss incurred by reason of any misconduct or default on the part of any such delegate or sub-delegate.’

In Rule 121(01) at the beginning the words “subject to the provisions of Rule 4(vi)” shall be substituted.

24 The letter dated 16-8-71 of the Share Bazar Staff Union was read and it was resolved that as every member has his own separate staff as per the Board’s resolution dated 5-3-68 we have nothing to do in the matters relating to members and their staff.

25 The Chairman explained the matter regarding M/s Thakersi Pragji. Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Dt: 2-9-71

Thursday, 2-9-71 Meeting of the Governing Board of the Stock Exchange was held today at ST 3.30 p.m. under the Chairmanship of Seth Laldas Jamnadas, wherein the under mentioned members of the Board were present.

Shri Laldas Jamnadas Shri A.R. Mahadevia Shri Phiroze J. Jeejeebhoy Shri Vasantlal Kantilal Shah Shri Rasiklal Maneklal Shri B M Gandhi Shri Gordhandas Bhagwandas Shri Mathradas Samaldas Shri Vasantlal Jivatlal Shri Navinchandra Chhaganlal Kampani Shri J R Motishaw Shri Vasantlal Champaklal

Government Nominees Shri M N Deshmukh

The following business was transacted at the meeting.

1 Resolved that the notices mentioned against the name of the below mentioned companies regarding permission given to deal in Letters of Renunciation and coupons of their new shares should be confirmed:

Thaker & Co. Ltd. Notice No. 1471/71 dated 20-8-71

The Industrial Credit and Investment Corporation of India Ltd.


Bombay Malleable Iron Eastern and Allied Industries Ltd.


2 Resolved that the Notices No:1426/71 dated 20-8-71 and No:1433/71 dated 20-8-71 regarding settlement of Hand Delivery transactions are confirmed.

3 Resolved that in the under mentioned Arbitration References between members and Non-members, the time for giving the award should be extended as stated against respective references: Arbitratin

Reference No:

Name of Parties Extension of time for giving

award. 1 No:8 of

1968 Basudev Narayandas v/s Bisesarlal Mittal – Proprietor of M/s Mukatlal Bisessarlal and Jaygopal Bansilal Ojha

17-9-71


17-9-71

3 32 of 1976 Shri Narayan Durgadutt Sarvalkar v/s C.R. Loyalka

18-9-71

4 N 61 of 1961

Vinaykumar Vishwarlal Ruiya v/s S.R.Dalmia

19-9-71

5 10 of 1969 M/s Champaklal Jamnadas v/s J.N. 20-9-71

Bahl 6 6 of 1971 Omkarlal R. Bohra v/s C.N. Shah 27-8-71 7 25 of 1970 M/s Puranmal Bansidhar v/s

Vishwanath Todi 27-9-71

8 15 of 1969 Girdharlal Amulakh Shahv/s Shantilal Rajpal Mehta

26-9-71

9 N 68 of 1963

Kishorilal Thakarsidas Podar v/s Smt. Shantadevi Maneklal

27-9-71

10 15 of 1970 M/s G.K. Fozdar v/s Shri Keki Gandhi 29-9-71 11 23 of 1967 M/s Hill & Rock v/s J.R. Motishaw &

Co. 1-10-71

4 The listing applications of the undermentioned companies were considered and it was unanimously resolved to approve admission of their securities mentioned against their names to our list of securities traded on the Exchange: Saurashtra Cement and Chemical Industries Ltd. --- 9.5% New Preference Shares. Telefincan India Ltd. – New Preference.

5 The listing application of Lamps and Filaments Ltd., was considered and it was unanimously resolved that subject to the Listing Regulations and other special requirements stipulated by us, the Equity and Preference shares be admitted to our list of Non-Cleared Securities traded on the Exchange and dealings therein should be done in the trading lots of 50 shares and 5 shares each respectively.

6 The letter dated 19-8-71 of Kirloskar Pneumatic Co. Ltd., was considered and it was resolved to write to the Company if the convertible debentures to be issued by the company are not offered to the public or the company’s shareholders then those debentures as well as the new equity shares allotted in lieu of those debentures will not be considered as eligible for admission to our list of securities traded on the Exchange.

7 In the matter of tenders in respect of the foundation and basement of our new building it was resolved to accept the tender of Rodeo Foundation Engineering Ltd., and Hazarat & Co., Ltd., subject to what is stated in their letters of 11-5-71 and 16-7-71.

8 Resolved that in order to raise the money required for construction of our new building as per the General Body Resolution dated 31-8-71, drafts of the prospectus, trust deed etc. , should be prepared and other required formalities should be done relating to the 8% Debentures of upto Rs. 2 crores.

9 Resolved that in accordance with the General Body Resolution dated 31-8-71 fixed deposits for one year should be accepted and interest at 8% should be paid thereon and conditions regarding their conversion into proosed debentures etc., should be properly made.

10 Resolved that the debentures that may be used by us as well as the Fixed Deposit receipts of the Association should be accepted as Membership Security deposit.

11 Resolved that 350 Preference share of the Tata Engineering and Locomotive Co. Ltd., from the Associations investments should be sold to Sir Shapurji Broacha Brokers’ Helping Fund at Rs. 106.50p per share.

12 Resolved that a sum of Rs.2,00,000/- from the Sir Shapurji Broacha Frokers Helping Fund should be put as Fixed Deposit in the Association at 8% interest

per annum. 13 Resolved that Shri Dhirajlal Maganlal should be appointed as a Trustee of the

Staff Provident Fund in the vacancy of the late Shri KRP Shroff. 14 Resolved that a new Current Account No:4 to be opened with the Bank of

India in the name of “The Stock Exchange” and be operated on either by the President, Shri Laldas Jamnadas, or the Chairman Shri P. J. Jeejeebhoy, or the Vice-President, Shri Rasiklal Maneklal, or the Hon. Treasurer, Shri Mathradas Samaldas and by any one of the following eight Members of the Governing Board, namely Shri Jayant Amerchand, Shri Shri Gordhandas Bhagvandas, Shri Vasantlal Champaklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri Vasantlal Kantilal Shah, Shri B. M. Gandhi and Shri A. R. Mahadevia and be counter signed by the Secretary, Shri A. J. Shah.

15 Resolved that a new Current Account No:5 be opened with the Bank of India in the name of the “the Stock Exchange” and be operated on either by the President. Shri Laldas Jamnadas, or the Chairman, Shri P. J. Jeejeebhoy, or the Vice-president Shri Rasiklal Maneklal or the Hon. Treasurer, Shri Mathradas Samaldas and by any one of the following eight Members of the Governing Board, namely Shri Jayant Amerchand, Shri Shri Gordhandas Bhagvandas, Shri Vasantlal Champaklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri Vasantlal Kantilal Shah, Shri B. M. Gandhi and Shri A. R. Mahadevia and be counter signed by the Secretary, Shri A. J. Shah.

16 Resolved that the cheques be signed by the President, Shri Laldas Jamnadas, or the Chairman Shri P. J. Jeejeebhoy, or the Vice-president Shri Rasiklal Maneklal or the Hon. Treasurer, Shri Mathradas Samaldas and by any one of the following eight Members of the Governing Board, namely Shri Jayant Amerchand, Shri Shri Gordhandas Bhagvandas, Shri Vasantlal Champaklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri Vasantlal Kantilal Shah, Shri B. M. Gandhi and Shri A. R. Mahadevia and be counter signed by the Secretary, Shri A. J. Shah.

17 Resolved that the Various safe custody accounts of the Exchange with the Bank of India be operated on jointly by the President, Shri Laldas Jamnadas or the Chairman, Shri P. J. Jeejeebhoy, or the Vice-President, Shri Rasiklal Maneklal, or the Hon. Treasure Shri Mathradas Samaldas and by any one of the following eight Members of the Governing Board, namely Shri Jayant Amerchand, Shri Shri Gordhandas Bhagvandas, Shri Vasantlal Champaklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri Vasantlal Kantilal Shah, Shri B. M. Gandhi and Shri A. R. Mahadevia and be counter signed by the Secretary, Shri A. J. Shah.

18 Resolved that the Current Accounts and the Safe Custody Accounts with the Bank of India in the names of the Stock Exchange Staff Provident Fund and The Stock Exchange Staff Gratuity Fund be operated on either by any two of the Trustees of the Exchange for the time being or the Survivors or Survivor of them or jointly by the Hon. Treasurer, Shri Mathradas Samaldas and any one of the following eight Members of the Governing Board, namely Shri Jayant Amerchand, Shri Shri Gordhandas Bhagvandas, Shri Vasantlal Champaklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri Vasantlal Kantilal Shah, Shri B. M. Gandhi and Shri A. R. Mahadevia and be counter signed by the Secretary, Shri A. J. Shah.

Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Dt: 2-11-71 The Governing Board passed a resolution under by a circulation dated 7-10-71: “ Resolved that on Monday 18-10-71 our market should be kept open from S.T. 5.30 to 6.30 pm for doing Muhurat transactions fro Kartik Vikram Samvant 2028 instead from S.T. 12 to 2 p.m. Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Dt: 2-11-71

Tuesday, 2-11-71

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm., under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned members of the Board were present:

Shri Laldas Jamnadas Shri Jivanchand R. Motishaw Shri Phiroze J. Jeejeebhoy Shri A.R. Mahadevia Shri Rasiklal Maneklal Shri Vasantlal Kantilal Shah Shri Jayant Amerchand Shri Babubhai Maganlal Gandhi Shri Jasvantlal Chhotalal Shri Mathradas Samaldas Shri Hiralal Girdharlal Shri Jagdish Jagmohandas Shri Gordhandas Bhagwandas Shri Navinchandra C. Kampani Shri Vasantlal Jivatlal Shri Vasantlal Champaklal

Government Nominees

Shri M.N. Deshmukh Shri S. Rajagopalan

The following business was transacted in the meeting: 1 The President told the Board that Shri S. Rajagopalan, Regional Director, Company

Law Board, Western Region has been appointed as a Government nominee on the Governing Board in the place of Shri T.G. Gondhalikar. The President expressed hope that the Board will receive complete support, co-operatin and valuable guidance from him as from his predecessor. Shri S. Rajagopalan gave assurance of giving the Board as much help and co-operation as possible.

2 Resolved that the notice mentioned against the names of the below-mentioned companies regarding cum-right and ex-right transactions in their shares are confirmed: 1 Ferro Alloys Corporation Ltd. Notice No:1646/71 dt.

21-9-71 2 The Jain Shri Ranjitsinghi Spg. and Wvg., Mills

Co. Ltd. Notice No: 1653/71 dt. 21-9-71

3 Modi Spg.and Wvg. Mills Co.Ltd. Notice No:1683/71 dt.24-9-71

4 Arunodaya Mills Ltd. Notice No:1739/71 dt.6-10-71

5 Belapur Paper and Straw Board Mills Ltd. Notice No:1793/71 dt. 18-1071

6 S.L.M. Maneklal Industries Ltd Notice No: 1837/71 dt. 25-10-71

3 Resolved that the undermentioned notices are confirmed: 1. Notice No:1579/71 dated 13-9-71 regarding settlement of the shares of

Swadeshi Polytex Ltd. 2. Notice No: 1605/71 dated 15-9-71 regarding stoppage of transactions in the

shares of Modi Spg. and Wvg., Mills Co. Ltd. 3. The Notices No:1641/71 dated 20-9-71, No:1664/71 dated 23-9-71 and

No:1690/71 dated 27-9-71 regarding settlement of Hand delivery

transactions. 4. Notice No:1729/71 dated 4-10-71 regarding making transactions of the

shares of Century Mills Ltd., ex-dividend. 5. Notice No: 1730/71 dated 5-10-71 regarding changes in the Clearing

Programme. 6. Notice No:1794/71 dated 18-10-71 regarding programme relating to Buyers’

Ticket. 7. Notice No:1799/71 dated 21-10-71 regarding permission given for dealing

in Letters of Renunciation and coupons of the new Preference shares of Ferro Alloys Corporation Ltd.

8. Notice No:1804/71 dated 22-10-71 regarding permission given for dealing in Letters of Renunciation of the new Equity shares of Mody Spg., and Wvg., Mills Co.Ltd.

9. Notice No:1806/71 dated 22-10-71 regarding making delivery of the shares of Amer Dye-Chem Ltd., at ex-dividend price.

10. Notice No: 1820/71 dated 26-10-71 regarding doing transactions of the Cleared and Non-Cleared securities at ex-dividend price.

4 Resolved the the notices mentioned against the securities of the undermentioned companies regarding deliverability of their new shares against old shares are confirmed:

1. Dhrangadhra Chemical Works Ltd. –Notice No:1571/71 dt.8-9-71 2. Indian Explosives Ltd. – Notice No:1576/71 dt.8-9-71 3. Bombay Suburban Electric Supply Co.Ltd. – Notice No:1596/71 dt. 11-9-71 4. Kirloskar Pneumatic Co. Ltd. – Notice No:1656/71 dt. 22-9-71 5. T. Maneklal Mfg., Co.Ltd. – Notice No:1788/71 dt. 18-10-71

5 Resolved that in the undermentioned Arbitration references between Members and

Non-members the time for giving the award is extended as mentioned against the respective references: Arbitration

Reference No:

Name of the Parties The time for giving the award extended upto:

1 41 of 68 M/s Chandulal Chunilal & Co., v/s Madanlal Poddar

4-10-71 and thereafter 4-11-71

2 4 of 70 M/s Champaklal Jamnadas v/s Nimji Alibhoy


3 N53 of 63 Kantilal Jivanlal Vakharia v/s Chunilal Manilal Gheewala


4 8 of 68 Basudev Narayandas /s Ozha 17-10-71 and thereafter 17-11-71

5 20 of 66 Jountilal Koticha v/s Arvind Nyalchand Shah 17-10-71 and thereafter 17-11-71

6 24 of 67 Madhusudan Narandas Patel v/s J.R. Motishaw & Co.


7 25 of 67 M/s Hansa Ramniklal Patel v/s J.R. Motishaw & Co.


8 32 of 67 Shri Narayan Durgadatt Sanvalka v/s C.R. Loyalka


9 N61 of 61 Vijaykumar V. Ruia v/s M/s S.R. Dalmia 19-10-71 and thereafter 19-10-71

10 10 of 67 M/s Champaklal Jamnadas v/s J.N. Baht 20-10-71 and thereafter 20-11-71

11 1 of 71 Omkarlal R. Bohra v/s C.M. Shah 22-10-71 and thereafter 22-11-71

12 25 of 70 M/s Puranmal Bansidhar v/s Vishwanath Todi



26-11-71

14 N68 of 63 Kishorilal Thakorsidas Poddar v/s Smt. Shantadevi Maneklal


15 15 of 70 M/s G.K. Fozdar v/s Shri Keki Gandhi 29-10-71 and thereafter 29-11-71

16 23 of 67 M/s Hill & Rock v/s J.R. Motishaw & Co. 1-11-71 and thereafter 1-12-71

6 Resolved that in the Arbitration References between members and non-members mentioned below appointment of arbitrators should be made as under: Arbitration

Reference No:

Name of the Parties Name of the party on whose behalf arbitrator is appointed

Arbitrators name

1 11 of 71 M/s P.R. Subramanyam & Sons M/s Parko

M/s Parko Shri Narayandas Trambaklal Parekh

2 12 of 71 Durgashankar Udayram Shukla v/s Shantilal Nagindas Mehta

Shantilal Nagindas Mehta

Shri Jayantilal Mansukhlal

7 Resolved that in the Arbitration References between members and non-members appointment arbitrators should be made as under in the vacancies of the arbitrators who have resigned: Arbitration

Reference No:

Name of the Parties Name of Arbitrators who has resigned

Name of Arbitrators who has been appointed

1 13 of 71 Jamnadas Mulchand Parekh v/s Bhagwandas Dhanji

Shri A.G. Fozdar

Shri Vasantlal Kantilal Shah

2 25of 70 M/s Puranmal Bansidhar v/s Shri Shri Nagindas

Vishwanath Todi C.M.Shah Trambalal Parikh

3 8 of 68 Basudeo Narayandas v/s Bissessarlal Mittal Proprietor of M/s Mansukhlal Bissessarlal Dayal and Jaigopal Bansilal Ojha

Shri C.M. Shah

Shri Purshottam Gopiram Ruiya

4 N61 of 61 Vijaykumar V. Ruiya v/s M/s S.R. Dalmia

Shri C.M. Shah

Shri Vasantlal Kantilal Shah

8 Resolved that the undermentioned applications for specific bargains which have been approved should be confirmed:

Name of the applicant Member Date of application Transactions 1. M/s Natverlal & Sons

27-7-71

100 preference shares of 7.85% of Godavri Sugar Mills Ltd.

M/s Natverlal & Sons 31-7-71 200- 7.85% preference shares of Godavri Sugar Mills Ltd.

2. M/s Dhirajlal Maganlal

27-7-71 100-7.85% Preference shares of Godavri Sugar Mills Ltd.

M/s Dhirajlal Maganlal 31-7-71 200- 7.85% preference shares of Godavri Sugar Mills Ltd.

3. Shri Keki J. Khambatta 2-8-71 2777 ordinary shares of Mercury Paints and Varnishes Ltd.

4. M/s Jamnadas Morarjee & Co.

25-8-71 500 ordinary shares of Palanpur Vegetable Products Ltd. (in liquidation).

9 As cheques are not being cleared because of agitation by Bank staff, it is resolved that if cheques of any bank cannot be cleared because of strike or agitation by its staff their payment for shares delivered cannot be made by cheques of that bank. Further, as clearing of cheques does not take place on Saturday and clearing of cheques for hand delivery transaction done on a Friday delivery in respect of which takes place on Friday after an interval o 14 days are not cleared till Monday thereafter, it is resolved that members can do special delivery transactions on any Friday on condition that settlement of such a transaction should be done on Monday instead of on Friday after an interval of 14 days and if such Monday does not happen to be a business day, the first business day thereafter.

10 The application dated 1-9-71 of Shri Dharampal Malhotra nominating Shri Bhanu Nanalal Mehta as a member of the Exchange in his own place was considered and after interviewing Shri Bhanu Nanalal Mehta and his recommender Shri Ashok Sundarlal it was resolved by 15 votes in favour and none against to elect Shri Bhanu Nanalal Mehta as a member of the Exchange in the place of Shri Dharampal Malhotra subject to the Rules and Bye-laws of the Exchange on condition that he should not do business in the market in his own name for two years.

11 The application dated 24-9-71 of Shri Chhotalal Pranjivandas nominating Shri Ashok Dhirajlal Dalal as a member of the Exchange in his own place was

considered and after interviewing Shri Ashok Dhirajlal Dalal and his recommenders S/Shri Keki J. Khambatta and Jitendra Champaklal it was resolved by 15 votes in favour and none against to elect Shri Ashok Dhirajlal Dalal as a member of the Exchange in the place of Shri Chhotalal Pranjivandas subject to the Rules and Bye-laws of the Exchange on condition that he should not do business in the market in his own name until 19-6-71.

12 The application dated 208-71 of the near relatives of the late Shri Nosher Hirjibhai Karani nominating Shri Hoshang Frambhai Munshi as a member of the Exchange in the place of the late Shri Nosher Hirjibhai Karani was considered and after interviewing Shri Hoshang Frambhai Munshi and his recommenders S/Shri M.N. Gandhi and R.D. Shethna it was resolved by 15 votes in favour and none against to elect Shri Hoshang Frambhai Munshi as a member of the Exchange in the place of late Shri Nosher Hirjibhai Karani subject to the Rules and Bye-laws of the Exchange on condition that he should immediately sever his connections with Thos Sheth Apkar and Co., and should not do business in the market in his own name for two years.

13 The application dated 2-10-71 of The Maharashtra State Anti-tuberculosis Association for help was considered and it was resolved to give assistance of Rs.101/- to it from The Association Fund.

14 The applications of Shri K.J. Joshi and Mahadev Ramchandra for giving them help for medical treatment during their illness were considered and it was resolved that they should be given assistance from Sheth KRP Shroff Stock Exchange Sarvajanik Fund as under: Shri K.J. Joshi -- Rs.767/65 Shri Mahadev Ramchandra – Rs. 232/35

15 The application dated 24-9-71 of Shri Maneksha Dhunjisha Jagirdar asking for assistance towards the expenses incurred by him for medical treatment on account of accident and it was resolved to give him assistance of Rs.200/- from Sheth KRP Shroff Stock Exchange Sarvajanik Fund.

16 The application dated 11-9-71 of our liftman Thekaram Laxman for giving him assistance of Rs. 125/85 towards the medical expenses incurred by him during the illness of his wife was considered and it was resolved that no assistance can be given to him.

17 The application dated 16-10-71 of Shri S.M. Davda of our office to give him assistance of the College fee for the second term of junior B.Com was considered and it was resolved to give him assistance of Rs.177/- from Sheth KRP Shroff Stock Exchange Sarvajanik Fund.

18 The letter dated 2-11-71 of Share Bazar Hatwardhak Kendra was considered and it was resolved to give it a loan of Rs.5000/-

19 The application dated 16-9-71 of S/Shri Shivraj Ramsukh and Bhavarlal Mohanlal for partnership was considered and it was resolved to approve their partnership under the firm name of M/s Shivraj Mohanlal & Co., with effect from 16-9-81.

20 The letter dated 10-8-71 of our Auditor M/s S.B. Bilimoria & Co., was considered and it was resolved that they should be paid audit fees of the undermentioned funds as shown below from the year 1970: The Stock Exchange Foundation Rs. 100/- The Stock Exchange Education and Research Services Rs. 100/- KRP Shroff Stock Exchange Sarvajanik Fund Rs. 100/- Seth Shantilal Jamnadas Smarak Fund Rs. 50/- Distress Relief Fund Rs. 50/- Seth Manilal C. Baxi Prize Fund Rs. 50/- Famine Relief fund Rs. 50/- Charity Fund Rs. 50/-

21 The Association Holidays for the year 1972 were fixed. 22 Shri D.M. Daga was called in respect of the letter dated 23-9-71 of Shri Prabhudas

Lilladher. Shri D.M. Daga explained that he will pay Rs.1000/- to Shri Prabhudas Lilladher during the first week of the forthcoming month of December and

thereafter will pay the entire claim of Shri Prabhudas Lilladher against him by making payment of 200 every month.

23 The letter dated 23-8-71 of our Architect M/s Shapoorji N. Chandbhoy and Co., was read and it was resolved that the remaining amount of Rs. 43,698/- of the bill of our contractors Shapoorji Palonji and Co. Pvt.Ltd., regarding construction of the temporary building on the Hamam Street should be paid and thereafter should be fully discharged.

24 Resolved that as the undermentioned companies have not still paid the Annual Listing Fee for the year 1971 though frequently demanded, their securities should be struck off the list of securities traded on the Exchange with effect from 3-12-71 if they do not pay up that fee by then:

1 The Minerba Mills Ltd. 9. Laxmiratan Engineering Works Ltd.

2 The Mysore Spg.& Mfg., Co.Ltd. 10. Mohta and Heekel Ltd. 3 The Alcock Anderson and Co.Ltd. 11. Triveni Engineering Works Ltd. 4 Osman Sahi Mills Ltd. 12. Keyteio Chemicals Ltd. 5 Neptune Assurance Co.Ltd. 13. West India Chemicals Ltd. 6 Afsons Industrial Corporation Ltd. 14. Glass Carbyoys and Pressed

Wires Ltd. 7 Uttar Pradesh Steels Ltd. 15. Harvey and Sabapatty Ltd. 8 Indoa Swiss Pipe Manufacturers

Ltd.

25 The letter dated 1-9-71 of the Bank of Maharashtra Ltd., that they do not wish to continue listing of their shares on the Exchange was read and it was resolved to strike off the shares of that Bank from our list of securities quoted on the Exchange.

26 As Belapur Co.Ltd., has been amalgamated with Gangapur Sugar Mills Ltd., it was unanimously resolved to remove the shares of that company from the list of securities traded on the Exchange.

27 Unanimously resolved that as the undermentioned shares have been redeemed they should be struck off the list of securities traded on the Exchange: 1 Ferro Alloys Corporation Ltd. 6% cum. Redeemable Pref.

shares 2 The Amalgamated Electricity Co.Ltd. 10% cum. Redeemable Pref.

shares 3 The New India Industries Ltd. 8.5% cum. Redeemable Pref.

shares 4 Star Paper Mills Ltd. 61/2% second Redeemable Pref.

shares

28 The listing applications of the undermentioned companies were gone through and it was resolved that subject to the Listing Rules and Regulations as well as compliance with the usual requirements stipulated by us their securities mentioned against their respective names should be admitted to dealings on the Exchange and dealings therein should be made in the trading lots mentioned against their names: Belapur Sugar and Allied Industries Ltd. Equity 5 shares Jagjit Industries Ltd. Equity 100 shares Jagjit Industries Ltd. Preference 5 shares Shreder Seouil Duncan Ltd. Equity 50 shares Mysore Breweries Ltd. Equity 50 shares Mysore Breweries Ltd. Preference 5 shares Universal Steel Alloys Ltd. Equity 50 shares Industrial Finance Corporation of India Ltd. 5 ¾% Bonds

1983

Neveli Ceramics and Industries Ltd. New ‘B’ Pref. 100 shares Shree Divesh Mills Ltd. New equity 5 shares

29. The Listing applications of the undermentioned companies were gone through and it was unanimously resolved to confirm the approvals given for listing of their securities mentioned against their respective names: Jayant Paper Mills Ltd. – Bonus equity Tata Merlyn and Gerin Ltd. – New Equity Chemicals and Fibres of India Ltd. -- New Equity Alembic Chemical Works Ltd. – New equity Rajasthan Spg & Wvg. Mills Ltd.- Bonus equity Straw Products Ltd. – New equity

Sd/- Sd/- A.J.Shah Laldas Jamnadas Secretary President Dt: 21/12/71 The Governing Board had passed the following resolution by circular dated 19-11-71: “ Resolved that if the companies or organisations who are to supply our requirements of steel required for construction of our new building ask for or stipulate a condition for opening of Letters of Credit in that connection we should open Banks Letters of Credit of the required amounts accordingly. Sd/- Sd/- A.J.Shah Laldas Jamnadas Secretary President Dt: 21/12/71

Tuesday, 21-12-71 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm., under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned members of the Board were present: Shri Laldas Jamnadas Shri Jivanchand R. Motishaw Shri Phiroze J. Jeejeebhoy Shri Vasantlal Kantilal Shah Shri Rasiklal Maneklal Shri Babubhai Maganlal Gandhi Shri Jayant Amerchand Shri Navinchandra C. Kampani Shri Jasvantlal Chhotalal Shri Himatlal V. Gandhi Shri Hiralal Girdharlal Shri Vasantlal Champaklal Shri Gordhandas Bhagwandas Shri Vasantlal Jivatlal

Government Nominees Shri M.N. Deshmukh Shri S. Rajagopalan

The following business was transacted in the meeting: 1 RESOLVED THAT the notice mentioned against the names of the undermentioned

companies regarding cum-right and ex-right transactions in their shares are confirmed: 1 Ceat Tyres of India Ltd. Notice No:1646/71 dt.

21-9-71 2 Deepak Insulated Cable Corporation Ltd. Notice No: 1653/71 dt.

21-9-71 3 The Travancore Electro Chemical Industries Ltd. Notice No:1683/71 dt.24-

9-71 4 Zandu Pharmaceuticals Works Ltd. Notice No:1739/71 dt.6-

10-71

2 RESOLVED THAT the undermentioned notices are confirmed: 1.

a Notice No:1886/71 dated 8 b Notice No:1897/71 dated 10 c Notice No:1945/71 dated 16 d Notice No:1963/71 dated 18 e Notice No:1984/71 dated 23 f Notice No:2064/71 dated 2-11-71 g Notice No:2065/71 dated 3-12-71 h Notice No:2082/71 dated 6-12-71 i Notice No:2117/71 dated 13-12-71

2. Notice No. 1910/71 dated 10/11/71 and No.1917/71 dated 11/11/71 regarding settlement of the shares of Deepak Nitrite Limited. 3. The Notice No. 1939/71 dated 15/11/71 regarding continuance of cum- dividend transactions in the shares of Hindustan Construction Co. Ltd. And Notice No. 2129/71 dated 15/12/71 regarding making the transactions in those shares ex- dividend. 4. Notice No. 1960/71 dated 18/11/71 about permission given for doing Business in

coupons of the Bonus Shares of Adarsh Chemicals and Fertilizers Ltd. 5. Notice No. 1961/71 dated 18/11/71 relating to time for doing Business 6. Notice No. 1985/71 dated 23/11/71 regarding the programme for Buyers Tickets. 7. Notice No. 2050/71 dated 30/11/71 regarding keeping the Market closed on 24/12/71 and Notice No. 2059/71 dated 2/12/71 regarding settlement of transactions settled by Red- Black Forms. 8. Notice No. 2978/71 dated 4/12/71 regarding the time for doing Business. 9. Notice No. 2083/71 dated 6/12/71 regarding the time for doing Business and settlement. 10. Notice No. 2090/71 dated 7/12/71 regarding settlement of transactions in the shares of Polysteel (India) Ltd. 11. Notice No. 2110/71 dated 11/12/71 and no. 2151/71 dated 20/12/71 regarding the shares of South India Shipping Corporation becoming fully paid- up. 12. Notice No. 2112/71 dated 13/12/71 requiring the Members to give only Bank of India cheques to each other in the settlement of shares. 13. Notice No. 2125/71 dated 14/11/71 requiring delivery of shares to be given and taken to the Clearing House.

3 RESOLVED THAT the undermentioned notices regarding deliverability of new shares against the old shares of the concerned companies are confirmed. 1. Inehela Tyres Ltd. Notice No. 1983/71 dated 22/11/71 2. Andhra Pradesh Paper Mills Ltd. Notice No. 2057/71 dated 1/12/71 3. Madhusudan Ltd. Notice No. 2144/71 dated 17/12/71

4 RESOLVED THAT in the Arbitration References between Members and Non- Members mentioned below the time for giving the Award is extended as stated against each references Sr. No Arbitration

Reference No.

Name of the Parties The date upto which the time for giving the Award is extended

1 2

41 of 68 4 of 70

Chandulal Chunnilal & Co. Vs.

Madanlal Poddar Champaklal Jamnadas

Vs. Nimji Alibhoy

4/12/71 and thereafter

4/1/72 4/12/71

and thereafter 4/1/72

3 N 53 of 63 Kantilal Jivanlal Vakharia Vs.

Chunnilal Manilal Gheewala


10/1/72

4 6 of 71 Nagardas Ramji Vs.

Narsimhbhai M. Patel


13/1/72 5 35 of 67 Kantilal Amthalal Shah

Vs. Harichand Maheshwari


13/1/72 6 5 of 71 Laxmidas Liladhar Shah

Vs. Dalichand B. Shah


16/1/72 7 20 of 66 Joyuntilal Koticha

Vs. Arvind Nyalchand Shah


18/1/72 8 24 of 67 Madhusudan Narandas Parekh

Vs. M/s. J.R. Motishaw and Co.


18/1/72 9 25 of 67 Smt. Hansa Rasiklal Patel

Vs. M/s. J. R. Motishaw and Co.


18/1/72 10 9 of 71 Hari Keshav Karwarkar

Vs. Lewis and Jones


18/1/72 11 10 of 69 Mrs. Champaklal Jamnadas

Vs. J. N. Baht


20/1/72 12 N 68 of 63 Kishorilal Thakarsidas Podar

Vs. Smt. Shantadevi Maneklal

27/12/71

13 15 of 70 M/s. G.K. Fozdar Vs.

Seth Keki J. Gandhi

29/12/71

14 23 of 67 M/s. Hill and Rock Vs.

M/s. J. R. Motishaw and Co.

1/01/72

15 10 of 71 R.R. Kotwal Vs.

B.M. Choksey and Co.

11/01/72

5 RESOLVED THAT as per the Arbitration References between M/s. Manmohandas Nemidas and Shantilal Salubhai Sanghvi, Shri Shantilal Salubhai Sanghvi has failed to appoint an Arbitrator on his behalf, Shri Nagindas Trambaklal Parekh should be appointed as an Arbitrator.

6 RESOLVED THAT as per the Arbitration reference between M/s. Harish Chandra Gupta and Shri Bishan Chandra Gupta, one of the Arbitrators Shri M. C. Mehta has expired, Shri Jitendra Mashruwala is appointed as an Arbitrator in that vacancy.

7 RESOLVED THAT a sum of Rs.66,000/- should be given to the Stock Exchange Foundation, which had been recognised u/s 35 (1)(2) of the Income Tax Act.

8 Resolved that a sum of Rs.85,000/- should be granted to the Stock Exchange Foundation and a sum of Rs. 5000/- should be granted to Seth KRP Shroff Stock Exchange Sarvajanik Fund from the funds of Stock Exchange Education and Research Services.

9 The additional report dated 17-12-71 of Sir Shapurji Broacha Brokers’ Helping Fund Committee was gone through and it was resolved to approve it.

10 The application dated 15-12-71 of Shri Tukaram Bhikaji of our office staff was considered and it was resolved to give him assistance of Rs.186/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund for the college fee of the study for the first

term of Inter Arts of his son Shri Yeshwant Tukaram and assistance of Rs.44/- for the study books from Shri M.C. Mehta Smarak Fund.

11 The application dated 24-11-71 of Shri Pandurang Gopal of our office for giving him assistance towards the expenses incurred by him for medical treatment during his sickness was considered and it was resolved to give him assistance of Rs.200/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund.

12 Resolved that Bail Mangalagavri Chhaganlal shah should be given assistance of Rs.750/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund.

13 The application dated 30-10-71 of our watchman Shri S.K. Lal to give him assistance of Rs.500/- for the damage caused to his house and agriculture on account of flood waters was considered and it was resolved that his request cannot be accepted.

14 The applications of our undermentioned office staff were considered and it was resolved to give them loans as under: Shri G.S. Tonpe -- Rs. 2000/- Shri T.G. Babu – Rs.500/- Shri Govind Mikhatale – Rs. 500/-

15 The letters of the undermentioned members were read and it was resolved to confirm the permission given to them to do business as Representative Members as mentioned below: Nominating Member Representative Member M/s Jayantilal N. Patel Sheth Bharatkishore Gupta Shri Nagarmal Saraf M/s Nagardas Nanji Bakhai & Co.

16 The letter dated 26-11-71 of S/Shri Lalitchandra C.D. Nanjee, Jayantilal Ratilal Trivedi, Harshadlal Bhagwandas Parekh and Rashmikant Jayantilal was read and it was noted that Shri Lalitchandra C.D. Nanjee had retired from the partnership firm of M/s Devkaran Nanjee & Co., with effect from 26-11-71.

17 The letter dated 27-11-71 of S/Shri Dhirajlal Maganlal Dalal, Nalinkant Dhirajlal Dalal and Ramesh Amritlal Mehta was read and it was noted that the firm of M/s Dhirajlal Maganlal Purshottamdas was dissolve with effect from 17-12-71.

18 The application dated 26-11-71 of Shri Ashok Dhirajlal Dalal, Ramesh Amrutlal Mehta, Nalinkant Dhirajlal Mehta and Jaysinh Dhirajlal Dalal for partnership and the letter dated 7-11-71 of Shri Dhirajlal Maganlal in that connection were considered and it was resolved that the partnership between S/Shri Ashok Dhirajlal Dalal, Ramesh Amrutlal Mehta and Jaysinh Dhirajlal Dalal should be approved under the firm name of M/s Dhirajlal Maganlal Sons with effect from 20-12-71.

19 The application dated 24-11-71 of Shri Panalal Fulchand Salot nominating Shri Ramanlal Fulchand Salot as a member of the Exchange in his own place was considered and after interviewing Shri Ramanlal Fulchand Salot and his recommenders S/Shri Champaklal jamnadas and Rasiklal S. Jahaveri it was resolved by 13 votes in favour and none against to elect Shri Ramanlal Fulchand Salot as a member of the Exchange in the place of Shri Panalal Fulchand Salot subject to the Rules and Bye-laws of the Exchange on the condition that within one month he should sever his connections with the Ahmedabad Stock Exchange and should separate from the partnership firm of M/s Skylight Engineering.

20 The letter dated 13-12-71 of the Government of India, Ministry of Finance, Stock Exchange division regarding the alterations and additions proposed to be made in the Securities Contracts (Regulations) Rules, 1957 was considered and after discussing and deliberating in that connection it was resolved that we should convey to Government in writing our views as expressed in to-day’s meeting.

21 It was noted that we have made an appeal to the Income Tax tribunal against the decision of the Appellate Assistance Commissioner against us in our appeal against the assessment orders of the Income Tax Officer for the five Assessment years from 1965 -66 to 1969-70.

22 The letter dated 13-12-71 of Bharat Forge Co.Ltd., was considered and it was resolved to change the trading lots of its equity and preference shares and make them of 50 shares each of Rs 10/- paid of shares

23 The Listing application of the under mentioned companies were considered and it was unanimously resolved that be approval accorded for addition of their below mentioned securities to our list of Securities traded on the Exchange should be confirmed Chemo Dharma Laboratories Ltd. New Equity Shri Dinesh Mills Ltd. New Equity Shri Dinesh Mills Ltd. Bonus New Equity The Ahemedabad Advance Mills Ltd. New Equity Fit and Tight Nuts and Bolts Ltd. Bonus Equity Poysha Industrial Company Ltd. New Equity The Jam Shri Ranjitsinghji Spg. & wng. Mills Ltd.

Bonus Equity

W. S. Insulators of India Ltd New Equity Morarjee Goculdas Spg. & Wng. Mills Ltd.

Bonus Equity

Arunodaya Mills Ltd Bonus Equity

24 The application of Amalgamated Electricity Co. Ltd. was considered and it was resolved its 8865, 10% Preference Shares which have not been redeemed should again to be readmitted to our list of securities traded on the Exchange and dealing in those shares should made in lots of 5 shares each.

25 The listing application of the undermentioned companies were considered and it was unanimously resolved that subject to the Listing Rules and Regulations as well as compliances with the usual requirements and other special requirements stipulated by us the securities mentioned against their names should be admitted to dealing on the Exchange and their transaction should be in the Trading Lots specified against their names:

City and Industrial Development Corporation of Maharashtra

7.5% Debentures 1986 Rs. 1000

The Chemo Pharma Laboratories Limited

9.5% participating Preference Shares- 5 Shares

Madhya Pradesh Electricity Board 6% Bonds, 1983 Second Series

26 Unanimously Resolved as the undermentioned Preference Shares have been redeemed those shares should be struck- off our list of securities traded on the Exchange

Straw Products Limited 9.1% Redeemable Preference Associated Rubber Industries Limited 7% Redeemable Preference

27 Letter dated 10/11/71 of a Alcock Ashdown Company Ltd was considered and it was resolved that their Shares should not be delisted presently but should continue to be listed.

Sd/- Sd/- A.J.Shah Laldas Jamnadas Secretary President Dt: 18-1-72

Tuesday, 18/01/72 A Meeting of the Governing Board of the Stock Exchange was held today at 3.00 P.M. under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned Members of the Board were present: Shri Laldas Jamnadas Shri J. R. Motishaw Shri Phiroze J. Jeejeebhoy Shri A.R. Mahadeva Shri Rasiklal Maneklal Shri Vasantlal Kantilal Shah Shri Jayant Amerchand Shri B. M. Gandhi Shri Jaswantbhai Chotalal Shri Mathradas Samaldas Shri Gordhandas Bhagwandas Shri Navinchandra Chhanganlal Kampani

Government Nominee Shri M. N. Deshmukh Shri S. Rajgopalan

The following businesses were transacted in the Meeting: 1 RESOLVED THAT the Notices mentioned against the names of the under-

mentioned Companies regarding cum- Right and ex- Right transaction o9f their

shares should be confirmed.

Hindustan Alluminiun Corporation Limited

Notice No. 51/72 dated 11/01/72

National Ryan Corporation Notice No. 84/72 dated 17/01/72

2 RESOLVED THAT the Notices mentioned against the names of the under-

mentioned Companies giving permission for doing business and letters of

Renunciation and coupons of their new shares are confirmed.

Travancore Electro- Chemicals Industries Limited

Notice No. 35/72 dated 6/01/72

CEAT Tyres of India Limited Notice No. 65/72 dated 12/08/72 Zandu Pharmaceuticals Works Limited Notice No. 74/72 dated 23/08/72

3 RESOLVED THAT the undermentioned Notices should be confirmed (i) The Notice no. 2175/71 dated 23/12/71 regarding settlement of

Shares settled by Record book forms 6- A and 7- A. (ii) Notice Number 2185/71 dated 23/12/71 regarding time for doing

business in the Market.

4 RESOLVED THAT in the undermentioned Arbitration References between

Members and Non- Members the time for making the Award is extended as

mentioned against the respective references:

Sr. No Arbitration

Reference No.

Name of the Parties The date upto which the time for giving the Award is extended

1 27 of 70 Bhagwatiprasad Omkarlal Rungta v/s M/s Indian Trade and Finance Ltd.

25-1-72

2 7 of 71 Bhagwant Gajanan Purohit v/s M/s S.R. Ketkar & Sons

25-1-72

3 N68 of 63 Kishorilal Thakarsidas Podar v/s Smt. Shantadevi Maneklal

27-1-72

4 15 of 76 M/s G.K. Fozdar v/s Keki Gandhi 29-1-72 5 23 of 67 M/s Hill & Top v/s J.R. Motishaw &

Co. 1-2-72

6 41 of 68 Chandulal Chunilal v/s Madnlal Podar

4-2-72

7 4 of 70 M/s Champaklal Jamnadas v/s Nimji Alibhoy

4-2-72

8 N53 of 63 Kantilal Jivandas Vakharia v/s Chunilal Manilal Gheewala

10-2-72

9 6 of 71 Nagardas Ravji v/s Nersinhbhai M. Patel

17-2-72

10 35 of 67 Kantilal Amthalal Shah v/s Harikchand Maheshwari

17-2-72


17-2-72

12 24 of 67 Madhusudan Narandas Patel v/s J.R. Motishaw & Co.

18-2-72

13 25 of 67 Mrs. Hansa Rasiklal Patel v/s J.R. Motishaw & Co.

18-2-72

14 9 of 71 Hari Keshav Karmarkar v/s Lewis & Jones

18-2-72

15 10 of 71 R.R. Kotwal v/s B.M. Choksey & Co.

11-2-72

5 Resolved that as M/s H.P. Mehta & Co., have failed to appoint anarbitrator on

hteir behalf in the Arbitration between M/s Harishchandra & Gutt and

themselves, Shri Rasiklal Sarabhai Jhaveri is appointed as an Arbitrator on their

behalf.

6 The application dated 5-1-72 of our watchman Shri Jitsinh Padmasinh to give

him assistance of Rs. 214/40 towards the expenses incurred by him for medical

treatment during his sickness on account of typhoid fever was considered and it

was resolved to give him assistance of Rs. 200/-from Seht KRP Shroff Stock


7 The applicaton dated 17-12-71 of our sepoy Balkrishna Yeshwant for a loan of

Rs.1500/- for expenses of his sister’s wedding was considered and it was

resolved to give him a loan of Rs.1000/-.

8 The application dated 4-1-72 of Shri M.K. Shivraman of our office staff to give

him a loan for purchasing a house in a Housing Society was considered and it

was resolved to give him a loan of Rs. 2000/-.

9 The application dated 5-11-71 of S/Shri Firoz Dorab Bilimoria, Minoo Ardesir

Karanjia, Minoo Navroji Gandhi, rustom Dadabhoy Sethna and hoshang Framroj

Munshi for their partnership was considered and it was resolved to approve

their partnership in the firm name of M/s Batliwala and Karani with effect from

5-11-71.

10 The letter dated 4-1-72 of Shri Kasturchand Gagaldas Shah was read and it was

resolved to record the claim of Rs.13,000/- of Shri Amarchand Lallubhai

Kapadia against his membership right.

11 Resolved that as 71/2% convertible bonds of The Standard Mills Co.Ltd., have

been converted into shares the above mentioned Bonds should be removed

from our list of securities traded on the Exchange.

12 The listing applications of the under mentioned companies were considered and it was unanimously resolved that the permission given for admission of their securities mentioned below against their names should be confirmed:

The New India Fisheries Ltd. New Equity

The Standard Mills Ltd New Equity shares issued in conversion 7½% convertible bonds.

Balarpur Paper and Straw Board Mills Ltd

Bonus Equity

Hind Cycles Ltd 6.5% new Preference shares

13 The listing applications of the under mentioned companies were considered and

it was unanimously resolved that subject to the listing Rules & Regulations as

well as compliance with the usual requirements and other special requirements

stipulated by us the securities mentioned against their respective names should

be admitted to our list of None-cleared Securities traded on the Exchange and

dealings in those securities should be done in the trading lots mentioned there

against:

Andhra Steel Corporation Ltd. Equity 50 shares Andhra Steel Corporation Ltd Preference 5 shares Bhopal Toughened Glass Works Ltd.

Equity 50 shares

Bhopal Toughened Glass Works Ltd.

Preference 5 shares

Surindra Stain Malt Ltd. Equity 50 shares Surindra Stain Malt Ltd. Preference 5 shares

14 WHEREAS in exercise of the powers conferred by Rule 74(iv) and (vi) of the

Stock Exchange Rules, Bye-laws and Regulations 1957 it was resolved at a

meeting of the members of the Exchange duly convened and held at Bombay

on the 31st day of August, 1971, that for financing the re-building and

development project and for furtherance of the other objects and purposes of

the Exchange the Governing Board be authorized to borrow and Rules for and

one behalf of the Exchange a sum of Rs.2,50,00,000 (Rupees Two crores Fifty

lakhs) and for that purpose inter- alia to create and issue from time to time

debenture stock providing for the payment of principal sums which together

with other sums so borrowed and rest shall not at any time exceed

Rs.2,50,00,000 (Rupees Two crores Fifty lakhs) in the Aggregate, such

debenture stock to bear such rate of interest and to be in such form and to be

without security or to be secured in such manner and to be issued to such

persons and on such terms and conditions as the Governing Board thinks fit

subject always to be over- riding original and fundamental condition that in all

causes and under all circumstance any person claiming payment whether of

principal or interest or otherwise however in respect of the monies secured by

such debenture stock shall be entitled to claim such payment only out of the

funds, properties and other Assets of the Exchange which alone shall be and

shall be deemed to be liable to answer and make good all claims and demands

whatsoever under and in respect of the Monies secured by such debenture

stock and not the personal funds, properties and other assets of all or any one

or more of the Trustees of the Exchange or member of the Governing Board or

Members of the Exchange, their or his Heirs, Executors, Administrators,

Successors and Assigns who shall not and shall not be deemed to in anywise

incur any personal liability or render themselves or himselves personally subject

or liable to any claims or demands or be charged under and in respect of the

monies secured by such debenture stocks, and in event of the funds, properties

and other assets of the Exchange being insufficient to satisfy the Claims of all

persons claiming payment as aforesaid, the right of any such person shall be

limited to and be shall not be entitled to claim anything more than his part or

share of such funds, properties and other assets of the Exchange in accordance

with the terms and conditions on which the debenture stock has been issued.

AND WHEREAS at the said meeting of the Members of the Exchange it was

further resolved that the Governing Board and when so requested by the

Governing Board the Stock Exchange Trustees be authorized to join the

Governing Board in meeting for and on behalf of the Exchange a Trust Deed or

Trust Deeds or any other documents in connection with the issue of such

Debenture Stock, such Trust Deed or Trust Deeds or documents to be in such

form and to contain such provisions and covenants on behalf of the Exchange

as the Governing Board may deem expedient

NOW THEREFORE in exercise of the purposes vested on the Governing Board by

Rule 121(ii) of the said rules of the Exchange in and pursuance of the resolution

adopted by the Members of the Exchange as aforesaid IT BE AND IS HEREBY

RESOLVED THAT Debenture Stock be created and issued for a principal sum of

Rs. 2,00,00,000 (Rupees Two Crores) repayable on the 31st day of December,

1986, or at the option of the Governing Board on the 31st Day of December,

14981, or on any day thereafter and bearing interest at the rate of 8 percent

per annum (subject to deduction from the amount of such interest of income-

tax or any other tax on income payable in respect thereof which is required to

be deducted under the provisions of the Income Tax Act, 1961, or any statutory

modification or re- enactment thereof or under any other law applicable

thereto) payable half- yearly on the 30th Day of June and 31st Day of December

in each year, that the terms and conditions of such debenture stock be as set

forth in the draft of the debenture stock trust deed (Which shall be, if necessary

be modified hereafter) submitted to this meeting and for the purpose of

identification signed by the President subject always to the over- riding original

and fundamental condition hereinabove recited and that the said debenture

stock be secured as to repayment by the Exchange of the principal monies any

payment by the Exchange of interest for the time- being payable thereon in the

manner appearing in the said draft Trust Deed and by entering into for and on

behalf of the Exchange the covenants therein contained.

FURTHER RESOLVED THAT the said Trust Deed when finalized be executed by

the Members of the Governing Board acting for and on behalf of the Exchange

and its Members as its and their representatives and duly authorized agents in

accordance with the Rules of the Exchange so as to bind themselves as such

Governing Board and so far as they can their successors in the office of the

Members of the Governing Board of the Exchange acting as such but not so as

to incur any personal liability or to render themselves personally liable to any

claims, demands, or charge.

FURTHER RESOLVED THAT the Trustees of the Exchange be and are hereby

requested to execute the said Trust Deed when finalized jointly with the

Members of the Governing Board in their capacity of Trustees of the funds and

properties of the Exchange and acting for and on behalf of the Exchange as the

beneficial owner so as to bind themselves as such Trustees and so far as they

can their successors in the office of the Trustees of the Exchange but not so to

incur any personal liability or to render themselves personally subject or liable

to any claims, demands or charge.

FURTHER RESOLVED THAT the Industrial Investment Trust Limited be

appointed as the Debenture Trustees on a remuneration of Rs. 5,000 as

Acceptance Fees and Rs. 4,000 per annum as Trustee Fees.

FURTHER RESOLVED THAT the Industrial Investment Trust Limited be

appointed as Registrar and Transfer agents for the said debenture Stock on

their Usual Term.

FURTHER RESOLVED THAT the Prospectus for the said Debenture Stock be in

the following form ( Form attached ) and that it be aligned by the President Shri

Laldas Jamnadas and issued on the Vasant Panchmi, namely, the 21st day of

January, 1972.

15 RESOLVED THAT the Bank of India be appointed as the Bankers of the

Exchange to collect Application Monies in respect of the Debenture Stock of Rs.

2,00,000 (Rupees Two Crores) to be offered for Public Subscription and the

Debenture Stock Money Account be opened with the Bank at Bombay and/ or

its Branches and that such accounts be operated upon jointly by the President,

Shri Laldas Jamnadas, or the Chairmen, Shri P. J. Jeejeebhoy, otherwise

President Shri Rasiklal Maneklal, President or the Hon. Treasurer, Shri

Mathradas Samaldas, and any one of the following eight Members of the

Governing Board, namely, Shri Jayant Amerchand, Shri. Gordhandas

Bhagwandas, Shri. Vasantlal Chanpaklal, Shri. Navinchandra Kampani, Shri

Hiralal Girdharlal, Shri Vasantlal Kantilal Shah, Shri. B. M. Gandhi, Shri. A. R.

Mahadevia, and be countersigned by the Secretary, Shri. A. J. Shah.

16 Resolved that the Chairman be authorized to make allotment against the

applications for our Debenture Stock which may be received and also for

transfer of the Debenture Stock.

17 The letter dated 10-1-72 of Otis Elevator Company (India) Ltd., was read and it

was resolved that we should buy one left from time as per proposal 2 and to

make the necessary arrangements for installation and start it operating and

incur the necessary expenses for that.

Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Dt: 14-3-72 The Governing Board had passed the following resolution by a circular dated 19-2-72:

“Resolved that Wednesday 22-3-73 should be fixed as the day for election of the Governing Board for the year 1972-73”.


Tuesday, 14-3-72 A Meeting of the Governing Board of the Stock Exchange was held to-day at S.T. 3.30 p.m. under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned Members of the Board were present. Shri Laldas Jamnadas Shri Vasantlal Jivatlal Shri Phiroze J. Jeejebhoy Shri J.R. Motishaw Shri Rasiklal Maniklal Shri Vasantlal Kantilal Shah Shri Jayant Amerchand Shri Babubhai Maganlal Shri Jaswantlal Chhotalal Shri Mathradas Samaldas Shri Hiralal Girdharlal Shri Navinchandra Chhaganlal Kampani Shri Gordhawas Bhagwandas Shri Vasantalal Champaklal

Government Nominee Shri M.N. Deshmukh Shri S. Rajgopalan


1. RESOLVED THAT the Notices mentioned against the names of the

undermentioned Companies regarding cum-right and en-right transactions of

their shares are confirmed:

Jijajeerao Cotton Mills Ltd. Notice No. 103/72 dated 20-1-72 Aluminium Corporation of India Ltd. Notice No. 111/72 dated 21-1-72 National Rayon Corporation Ltd. Notice No. 127/72 dated 24-1-72 Standard Mills Co. Ltd. Notice No. 190/72 Dated 2-2-72 Universal Dyestuff Industries Ltd. Notice No. 235/72 Dated 9-2-72 Straw Products Ltd. Notice No. 384/72 Dated 7-3-72 Warmer Hindustan Ltd. Notice No. 392/72 Dated 8-3-72 Pfizer Ltd. Notice No. 423/72 Dated 13-3-72

2. The below mentioned notices regarding settlement of hand delivery

transaction were confirmed:

Notice No. 107/72 Dated 20-1-

72 Notice No. 324/72 Dated 25-2-72

Notice No. 125/72 Dated 24-1-72 Notice No. 338/72 Dated1-3-72 Notice No. 141/72 Dated 25-1-72 Notice No.154/72 Dated 29-1-72 Notice No. 312/72 Dated 24-2-72 Notice No.383/72 Dated 7-3-72

3. RESOLVED THAT notices mentioned against the names of the below-

mentioned Companies regarding deliverability of their new shares against the

old shares are confirmed:

Nagpal Ambade Petro Chemical Refining Ltd.

Notice No. 184/72 Dated 1-2-72

Excel Industries Ltd. Notice No. 250/72 Dated 14-2-72 Ratnakar Shipping Co. Ltd. Notice No. 307/72 Dated 4-3-72 Siemens India Ltd. Notice No. 399/72 Dated 10-3-72 The Jamshree Ranjitsinghji Spg & Wvg. Mills Ltd.

Notice No. 214/72 Dated 11-3-72

4. RESOLVED THAT the undermentioned notices should be confirmed:

1) Notice No. 196/72 dated 3-2-72 regarding purchase of 225 National

Rayon Shares in auction to be bought by tenders.

2) The Notice No. 240/72 dated 11-2-72 regarding continuing cum-

dividend transactions and Notice No. 401/72 dated 10-3-72 regarding

payment of difference in dividend of those shares.

3) The Notice No. 255/72 dated 15-2-72 regarding transaction of the

shares of the Central Bank of India Ltd.

4) Notice No. 364/72 dated 4-3-72 regarding programme of the Buyers

Tickets.

5) Notice No. 340/72 dated 8-3-72 forbidding transactions in the shares

of Blue Mountain Estates, Ltd Kothari Textiles Ltd. and Adone Spg and

Wing Co. Ltd.

6) The Notice No. 394/72 dated 10-3-72 about giving permission for

doing business in the coupons of Bonus Shares of National Rayon

Corporation Ltd.

7) Notice No. 401/72 dated 10-3-72 regarding payment of difference of

dividend on the shares of the Bombay Dyeing and Mfg.Co. Ltd.

8) Notice No:408/72 dated 11-3-72 regarding keeping the market open

for dong business on 16-3-72 as it is the day for introduction of

Budget of the Central Government.

5 Resolved that in the undermentioned Arbitration references between Members

and Non-members the time for giving the award is extended as mentioned

against the respective references:


Name of the Parties The time for giving the award extended upto:

1 10 of 69 M/s Champaklal Jamnadas v/s J.N. Bahl 20-2-72 and thereafter 20-3-72

2 27 of 70 Bhagwatiprasad Omkarval Rungta v/s M/s India Trades and Finance Pvt.Ltd.


3 7 of 71 Bhagwat Gajanan Purohit v/s M/s S.R. Ketkar and Sons



26-11-71 thereafter 26-12-71 and thereafter 26-1-72 and thereafter 26-2-72 and thereafter 26-3-72

5 N68 of 63 Kishorilal Thakarsidas Poddar v/s Smt. Shantadevi Maneklal


6 15 of 70 M/s G.K.Fozdar v/s Seth Keki Gandhi 26-2-72 and thereafter 26-3-72

7 23 of 67 M/s Hill and Rift v/s J.R. Motishaw & Co.

1-3-72 and thereafter 1-4-72.

8 41 of 68 M/s Chandulal Chunilal & Co v/s Madanlal Podar


9 4 of 70 M/s Champaklal Jamnadas v/s Nimjee Alibhoy


10 12 of 71 Durgasankar Udayram Shukla v/s Shantilal Nagindas Mehta

7-4-72

11 N61 of 61 Vijaykumar Vishwmbharlal Ruiya v/s S.R. Dalmia

7-4-72

12 25 of 70 M/s Puranmal Bansidhar v/s Vishwanath Todi

7-4-72

13 8 of 68 Smt. Shantadevi Basudeo Shri Parmeshwar Basudev M/s Sumanlata Basudev (minor) (Legal heirs and successors of the lat Shri Basudev Narayadas v/s Bisesar Dayal Mittal, Proprietor of M/s Mukatlal Bissessarlal Dayal and Jaigopal Bansilal Ojha

7-4-72

14 N53 of 63 Kantialal Jivanlal Vakharia v/s Chunilal Manilal Gheewala

10-3-72 thereafter 10-4-72

15 6 of 71 Nagardas Ravji v/s Narsinbhai M. Patel 13-3-72 16 35 of 67 Kantilal Amthalal Shah v/s Harichand

Maheshwari 13-4-72


18-2-72

18 24 of 67 Madhusudan Narandas Polet v/s J.R. Motishaw & Co.

18-3-72

19 25 of 67 M/s Hansa Rasiklal Palet v/s J.R. Motishaw & Co.

18-3-72

20 9 of 71 Harikishan Karamkar v/s Lewis Jones 18-3-72 21 10 of 71 R.R. Kotwal v/s M/s B.M. Choksey & Co. 11-3-72 and

thereafter 11-4-72

6 The application dated 31-3-72 of the All India Federation of the Deaf for

assistance was considered and it was resolved to give it assistance of Rs.101/-

from the Association Fund.

7 The application dated 1-12-71 of Dr. C.D. Deshmukh Felicitation Committee

was considered and it was resolved to give it Rs. 1001/- as a contribution by

the Stock Exchange Education and Research Services.

8 The application dated 28-1-72 of our sweeper Harcharan J. Balmiki for giving

him assistance for the experiences for medical treatment incurred by him

during his sickness was considered and it was resolved to give him assistance

of Rs.600/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund.

9 The letter dated 8-2-72 of Shri V.G. Hatalkar asking for assistance for the

project of Dictionary of National Biography was considered and it was resolved

that we cannot give any assistance for that.

10 The application of the undermentioned persons of our office staff for giving them loans were read and it was resolved to give each of them a loan of the amount shown against their respective names: Shri P.P. Dave -- Rs. 3000/- Shri Laxman Tukaram –Rs. 1000/- Shri Madhukar Bhima -- Rs.700/- Watchman S.K. Lal – Rs. 500/- Sweeper Bhagwan Tiloo -- Rs.600/-

11 The letter dated 14-2-72 of Shri Jeramdas Dulomal Jasnani asking for

permission to do business in the market in his own name was considered and it

was resolved that his request cannot be acceded to.

12 The correspondence with Dwarkadas Nanjee Depositors’ Association and the

letter dated 21-2-72 of M/s Devkaran Nanjee & Sons were read and it was

resolved to write to the Devkaran Nanjee Depositors’ Associaton that since the

situation has been as stated in our letter of 12-2-72 and as there does not

appear to be violation of any kind of our Rules, Bye-laws and Regulations we

cannot do anything in the matter.

13 The application dated 21-2-72 of Shri Katurchand Gagaldas Shah nominating

Shri Harkishandas Chaitraishy Kamdar as a member of the Exchange in his

own place was considered and after interviewing Shri Harkishandas Chaitraishy

Kamdar and his recommenders S/Shri Navnitlal M. Bhagat and Kantilal

Mohanlal it was resolved by 12 votes in favour and one against to elect Shri

Harkishandas Chaitraishy Kamdar as a member of the Exchange in the place of

Shri Katurchand Gagaldas Shah subject to the Rules and Bye-laws of the

Exchange.

14 The additional report dated 6-3-72 of Sir Shapurji Broacha Brokers’ Helping

Fund Committee was read and it was resolved to approve it.

15 The letter dated 13-12-71 and 22-2-72 of our Architects Shapoorji Chandabhoy

& Co., were read and it was resolved that the property at 24-26, Dalal Street

stated therein belonging to Shri J.H.Cama and othersin the condition as it is

and with the existing tenants and occupants should be purchased at a price

upto Rs.5,00,000/- subject to the General Body’s approval.

16 Unanimously resolved that as Alcock Ashdown & Co., has been taken into

voluntary liquidation and as Central Bank of India Ltd., has been amalgamated

with Tata Locomotive Co.Ltd., the shares of Alcock Ashdown & Co.,and the

Central Bank of India Ltd., should be struck off our list of securities traded on

the Exchange.

17 Unanimously resolved that as the undermentioned companies are being

amalgamated with Kothari (Madras) Limited their shares should be struck off

our list of securities traded on the Exchange:

1. Blue Mountain Estates and Industries Ltd. 2. Waterfall Estate Ltd. 3. Kothari Textiles Ltd. 4. Adoni Spg. and Wvg., Co.Ltd.

18 Unanimously resolved that as the undermentioned securities are being

redeemed they should be struck off our list of securities traded on the

Exchange:

The Gwalior Rayon Silk Mfg., (Wvg.) Co.Ltd. – Preference Shares ‘B’ series. The Gokak Mills Ltd. --- 6% Debenture Loan 1962-72 73/4% Debenture Loan 1967-72

19 The applications of the undermentioned companies were considered and it was

unanimously resolved to confirm te approval given for admission of their

securities mentioned against their respective names to our list of securities

traded on the Exchange:

Hind Cycles Ltd 9.5% Preference Shares Bombay Swadeshi Shares Ltd. New Equity Deepak Insulated Cable Corporation Ltd. Bonus Equity Graphite India Ltd. New Equity

20 The listing applications of the undermentioned companies were considered and


as well as compliance with the usual requirements and other special

requirements stipulated by us their securities mentioned against their

respective names should be admitted to our list of Non-cleared securities and

dealings in those securities should be made in the trading lots mentioned

against the respective securities:

Shree Bhawani Cotton Mills Ltd. Equity 100 shares Shree Bhawani Cotton Mills Ltd. 8%

Preference 5 shares

Shree Bhawani Cotton Mills Ltd. 9.5% Preference

5 shares

Keshav Vanaspati Ltd. Equity 50 shares Keshav Vanaspati Ltd. Preference 5 shares Southern Petrochemical Industries Ltd. Equity 50 shares Southern Petrochemical Industries Ltd. Preference 5 shares Skal Breweries Ltd. Equity 50 shares Skal Breweries Ltd. Preference 5 shares Orient Breweries Ltd. Equity 50 shares Orient Breweries Ltd. Preference 5 shares Bajaj Plastics Ltd. Equity 50 shares Somani Steel Ltd. Equity 50 shares Maharashtra State Electricity Board 4¼%

Debentures 1975

Maharashtra State Electricity Board 5% Debentures

1976

Maharashtra State Electricity Board 53/4% Debentures

1977


1978


1979

Maharashtra State Electricity Board 6% Bonds 1980 Maharashtra State Electricity Board 6% Bonds 1980

(II)Series Maharashtra State Electricity Board 6% Bonds 1981 Maharashtra State Electricity Board 6% Bonds 1981 (II)

Series Maharashtra State Electricity Board 6% Bonds 1981 (III)

Series

21 The application dated 3-3-72 of our pensioner Shri Maganlal Jivanbhai Desai

requesting for increasing the amount of his pension was considered and it was

resolved that those who have retired from their employment with our

Association are being given pension should be given an increase of 20% in the

pensions they are being given now.

22 Resolved that the clerical staff of our office should be given dearness allowance

as under with effect from 1-1-72:

Accountant, Grade A, Grade B --- Rs.285/- per month Grade C ---- Rs.240/- per month Subordinate Staff – Rs.160/- per month Further resolved that with effect from 1-1-72 every junior officer should be

given one term increment and Shri S.N. Karaka and Shri Nariman N. Dubash

should be placed in the grade of 300-25-400-35-750 and given Rs.680/- per

month.

Further resolved that the grades of the subordinate staff should be revised as

under:

Sepoy doing senior clerical work - 50-3-80-4-120-5-175 Sepoy, liftman, watchman – 34-2-60-3-84-4-100-5-150 Bhatt, hamal, Sweeper – 30-2-70-3-85-4-125

23. The President thanked the members of the Board and Government nominees

for the co-operation and support given by them during the year. He mentioned

that Shri M.N. Deshmukh has got promotion in the Income-Tax Department

and is to revert to the Income-Tax department in a very short time and wished

him success in his new job. Shri Deshmukh had always been sympathetic in the

problems relating to the Stock Exchange and given co-operation to the Board.

The President praised his services and added that his expense and knowledge

had been very useful.


Tuesday, 18-4-72 A Meeting of the Governing Board of the Stock Exchange was held to-day at S.T. 3.00 p.m. under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned Members of the Board were present. Shri Laldas Jamnadas Shri Vasantlal Jivatlal Shri Phiroze J. Jeejebhoy Shri J.R. Motishaw Shri Jayant Amerchand Shri Vasantlal Kantilal Shah Shri Rasiklal Maneklal Shri B.M. Gandhi Shri Jaswantlal Chhotalal Shri Mathradas Samaldas Shri Gordhandas Bhagwandas Shri Bissesarlal N. Khandelwal Shri Ashok G. Fozdar


The following business was transacted in the meeting: 1. In the beginning of today’s meeting Shri Gordhandas Bhagwandas acted as the

Chairman proposed by him and supported by Shri J.R. Motishaw it was

unanimously resolved to elect Shri Laldas Jamnadas as the President.

Shri Laldas Jamnadas thanked the members of the Board for reposing their trust in

him and elect him again as the President and presided as Chairman of the Meeting

from that point of time. He expressed his gratitude for the support and co-

operation given by the members of the Board and Government nominees during

the last year and hoped that they will continue to support and co-operation

similarly this year also.

He congratulated Shri Bissesarlal N. Khandelwal and Shri Ashokkumar G. Fozdar

for being elected to the Board and welcomed them.

The President also praised the support and co-operations given by Shri Rasiklal

Maneklal as Vice-President during the last year and expressed the hope that he

will continue to be the Vice-President and continue to give his valuable co-

operation this year also.

Shri Rasiklal Maneklal thanked the President and members of the Governing Board

for their kind sentiments expressed by them for him but requested the Board to

release him from his responsibility as he did not desired to continue as Vice-

President for personal reasons.

2. Proposed by Shri Rasiklal Maneklal and supported by Shri Gordhandas

Bhagwandas it was unanimously resolved to elect Shri Jayant Amerchand as Vice-

President.

The President welcomed Shri JAyant Amerchand as the Vice-President and Shri

Jayant Amerchand thanked the members of the Governing Board for their kind

feelings towards him and elected as Vice-President.

3. Proposed by Shri Gordhandas Bhagwadas and supported by Shri Jayant

Amerchand it was resolved unanimously to elect Shri Mathradas Samaldas as Hon.

Treasurer.

4. Resolved that Sir Shapurji Broacha Brokers’ Helping Fund Committee should be

appointed consisting of Shri J.R. Motishaw, Shri Jayant Amerchand, Shri

Gordhandas Bhagwandas and Shri Dhirajlal Maganlal.

5. Resolved that the undermentioned members are appointed as members of the

Arbitration Committee:

1 Shri Keki N. Chinoy 8. Shri Nagindas Trambaklal Parekh

2 Shri Chhotalal Devchand 9. Shri V.K. Nanavati 3 Shri Jayantilal Mansukhlal Dalal 10. Shri Jayendra D. Mehta 4 Shri Champaklal Balubhai

Marfatia 11. Shri H.N. Sonawala

5 Shri M.L. Kaji 12. Shri D.V. Shukla 6 Shri L.N. Kapadia 13. Shri Hariram Dwarkadas 7 Shri S.M. Shah 14. Shri Bhagubhai Amthalal

Ghandhi

Further resolved that for filling up the remaining two members, a notice should be

issued calling for the names of the members who desires to work as members of

the Arbitration Committee and appointment should be made from them.

6. Resolved that the Defaulters Committee for the year 1972-73 should be appointed

consisting of the undermentioned members:

1 Shri J.R. Motishaw 4 Shri Keki N. Chinoy 2 Shri Jayant Amerchand 5. Shri Jayantilal Mansukhlal Dalal 3 Shri Vasantlal Champaklal 6. Shri Rasiklal S. Jhaveri

7. Resolved that a Building Sub-Committee should be appointed consisting of S/Shri

Laldas Jamnadas, Gordhandas Bhagwandas, Mathradas Samaldas, Jayant

Amerchand, Vasantlal Kantilal Shah and Jasvantlal Chhotalal.

8. Resolved that the cheques be signed by the President, Shri Laldas Kamnadas or

the Chairman Shri P. J. Jeejeebhoy, or the Vice-President Shri Jayant Amerchand

or the Hon. Treasurer, Shri Mathradas Samaldas, and by any one of the following

eight members of the Governing Board, namely, Shri Girdharlal Bhagwandas, Shri

Rasiklal Maneklal, Shri Vasantlal Champaklal, Shri Navinchandra C. Kampani, Shri

Hiralal Girdharlal, Shri Vasantlal Kantilal Shah, Shri B. M. Gandhi and Shri A. R.

Mahadevia and be countersigned by the Secretary, Shri A. J. Shah.

9. Resolved that the Current Accounts and the Safe Custody Accounts with Bank of

India, in the name of the Stock Exchange Staff Provident Fund and the Stock

Exchange Staff Gratuity Fund be operated on after by any two of the Trustees of

the Exchange for the time being or the Survivors or Survivor of them or jointly by

the Hon. Treasurer, Shri Mathradas Samaldas, and any one of the following eight

members of the Governing Board, namely, Shri Gordhandas Bahgwandas, Shri

Rasiklal Maneklal, Shri Vasantlal Champaklal, Shri Navinchandra C. Kampani, Shri

Hiralal Girdharlal, Shri Vasantlal Kantilal Shah, Shri B. M. Gandhi and Shri A. R.

mahadevia and be countersigned by the Secretary, Shri A. J. Shah.

10. Resolved that the various Safe Custody Accounts of the Exchange with Bank of

India, be operated on jointly by the President, Shri Laldas Jamnadas, or the

Chirman Shri. P. J. Jeejeebhoy or the Vice-President, Shri Jayant Amerchand, or

the Hon Treasurer, Shri Shri Mathradas Samaldas, and by any one of the following

eight members of the Governing Board namely Shri Girdhrlal Bhagwandas, Shri

Rasiklal Maneklal, Shri Vasantlal Champaklal, Shri Shri Navinchandra C. Kampani,

Shri Hiralal Girdharlal, Shri Shri Vasantlal Kantilal Shah, Shri Shri B. M. Gandhi

and Shri A. R. Mahadevia and be countersigned by the Secretary, Shri A. J. Shah.


1) Notice No. 440 dated 15-3-72, No:479/72 dated 23-3-72 and No: 585/72

dated 11-4-72 regarding Buyers ticket.

2) The Notice No. 460/72 dated 18-3-72 and No:475/72 dated 22-3-72

regarding settlement.

3) The Notice No. 469/72 dated 21-3-72 regarding the shares of Shivrajpur

Syndicate Ltd.

4) Notice No. 482/72 dated 23-3-72 regarding keeping our market closed on

27-3-72 as it is the Association Holiday of Mahavir Jayanti.

5) Notice No. 505/72 dated 27-3-72 regarding permission given for doing

business in Letters of Renunciation and coupons of new shares of Universal

Dyestuff Industries Ltd.

6) The Notice No. 483/72 dated 23-3-72 forbidding transactions in the shares

of Rajasthan Spg. & Wvg., Mills Ltd., and Notice No: 552/72 dated 5-4-72

permitting resumption of dealings in those shares.

7) Notice No. 548/72 dated 4-4-72 regarding cum-right and ex-right

transactions in the shares of Supreme Industries Ltd.

8) Notice No:529/29 dated 1-4-72 regarding continuance of the cum dividend

transactions in the shares of Belapur Sugar and Allied Industries Ltd., and

Notice No: 584/72 dated 11-4-72 regarding making the transactions ex-

dividend in those shares.

9) The Notice No: 551/72 dated 5-4-72 regarding continuance of the cum-

dividend transactions in the shares of Warner Hindustan Ltd., and Notice

No:583/72 dated 11-4-72 for making the transaction ex-dividend in those

shares.

12. Resolved that the notices mentioned against the names of the undermentined

companies regarding their new shares being deliverable against their old shares

are confirmed:

1. Tung Prabha Industries Ltd. – Notice No: 421/72 dt. 13-3-72

2. Fit Tight Nuts & Bolts Ltd – Notice No:453/72 dt. 18-3-72

3. The Surat Electricity Co.Ltd. – Notice No:462/72 dt. 20-3-72

4. The Standard Mills Co.Ltd. – Notice No: 605/72 dt. 14-4-72

13. Resolved that a notice should be issued as under:

“ All the members of the Exchange are hereby informed that as clearing cheques

take place on Saturday and Clearing of cheques relating to Hand delivery

transactions done on any Saturday in respect of takes place on Saturday after an

interval of 14 days are not cleared till Monday thereafter, Governing Board has

resolved that members can do special delivery transactions on any Saturday on

condition that settlement of such a transaction should be done on Monday instead

of on Saturday after an interval of 14 days from the Saturday on which the

transaction is entered into and if being Monday does not happen to be a business

day, the first business day thereafter.”

14. Resolved that in the undermentioned Arbitration references between Members and Non-members the time for giving the award is extended as mentioned against the respective references: Arbitration

Reference No:

Name of the Parties The time for giving the award

extended upto: 1 9 of 71 Hari Keshav Karmarkar v/s Lewis & Jones 18-4-72 and

thereafter 18-5-72

2 13 of 71 Jamnadas Mulchand Parikh v/s Shri Bhagwandas Dhanji




4 24 of 67 Madhusudan Narandas Patel v/s M/s J.R. Motishaw & Co.


5 25 of 67 Mrs. Hansa Rasiklal Patel v/s M/s J.R. Motishaw & Co.


6 10 of 69 M/s Champaklal Jamnadas v/s J.N. Baht 20-4-72 7 18 of 71 Advance Insurance Co. Ltd. v/s M/s B.M.

Choksey & Co. 28-4-72

8 27 of 70 Bhagwatiprasad Omkarmal Rungta v/s M/s Indian Trades and Finance (Pvt.) Ltd.

25-4-72

9 7 of 71 Bhagwant Gijanan Purohit v/s M/s S.R. Ketkar & Sons

25-4-72

10 15 of 61 Girdharlal Amulakh Shah v/s Shantilal Rajgopal Mehta

26-4-72

11 N68 of 63 Kishorilal Thakassidas Poddar v/s Smt. Shantadevi Maneklal

27-4-72

12 15 of 70 M/s G.K. Fozdar v/s Seth Keki Gandhi 29-4-72 13 23 of 67 M/s Hill and Rock v/s J.R.Motishaw & Co. 1-5-72 14 12 of 71 Durgashankar Udayram Shukla v/s Shantilal

Nagindas Mehta 7-5-72

15 41 of 68 Chandulal Chunilal & Co. v/s Madanlal Podar 4-5-72 16 8 of 68 1) Shantadevi Basudev

2) Parmeshwar Basudev 3) Sumanlata Basudev 4) Kusumlata Basudev (Mother) Heirs legal representative of the Basudev Narayandas

Vs 1) Bisesar Dayal Mittal

Proprietor of M/s. Mukutlal Bisesar Dayal 2) Jaygopal Bansilal Ojha

4-5-72

17 61 of 61 Vijaykumar Vishwambharlal Ruiya Vs M/s. S. R. Dalmia

7-5-72

18 25 of 70 M/s. Puranmal Bausidhar Vs Vishwanath Todi

7-5-72

19 10 of 71 A. R. Kotwal Vs B. M. Chokcey & Co. 11-5-72 20 53 of 63 Kantilal Jivanlal Vakharia Vs Chimanlal

Manilal Gandhi 10-5-72

21 35 of 67 Kantilal Amthalal Shah Vs Hareshchand 13-5-72

Maheshvari

15. Resolved that in the under mentioned Arbitration References between members and non-members appointment of Arbitrators should be made as under: Srn No.

Ref. No. Name of the Parties Name of the Party on where behalf Arbitrator is appointed

Name of the Arbitrtor

1 20 of 71

M/s. C. m. Shah Vs. A. A. Merchant

A. A. Marchant Nagindas Trambaklal Parekh

2 21 of 71

M/s. C. M. Shah Vs Rajnikant Vrijlal

Rajnikant Vrijlal Jayntilal Manekhlal Dalal

3 22 of 71

M/s. C. M. Shah Vs Purshottamdas B. Shah

Purshottamdas B. Shah

Rasiklal Sorabji Jhaveri

16 In the Arbitration reference between M/s. P. R. Subramaniyan and Son’s and M/s.

Parko, the application of M/s. Parko dated 15-3-71 asking for extension of time for

making an appointment of an Arbitration on their behalf was considered and it

was resolved to give an extension of time for that pupose upto 30-4-72.

17 The application dated 17-4-72 of M/s. Nagardas Mohanlal for giving their

authorized clerk’s badge to Shri Ambalal Nagardas and the letter dated 17-4-72 of

Shri Ambalal Nagardas were read and it was resolve that as Shri Ambalal Narsidas

is a member of the East India Cotton Association. We can not give an authorized

Clark’s Badge to him

18 The application of our undermentioned office staff for giving them loans were considered and it was resolved to give a loan as mentioned against their respective names: Shri ABS Nair Rs750 Leftman Tukaram Laxman Rs. 1500 Liftman S V Jadhav Rs. 900 Sepoy B.S.Shinde Rs.500 Hamal Dhondu Sakpal Rs. 800 Sweeper Mohan Dev Solanki Rs. 800

19 After reading the lette dated 28-3-72 of Shri Shivdas Thakarsi and letter dated 30-

3-72 of Shri Sunderlal Kaluyanji it was resolved that the claim of Rs. Rs. 15,000/-

of Shri Sunderlal Kalyanji against Shri Shivdas thakkarsi should be noted after the

Association. Further, it was resolved that Shri Shivdas Thakrsi should not do any

business in the market in his own name and members also should not do any

business for or on behalf of Shri Shivdas Thakarsi without the permission of the

Board and if any member does any business for or on behalf of the Shri Shivdas

Thakarsi without the permission of the Board, that member shall not have any

claim against the membership right of Shri Shivdev Thakarsi

20 The letter dated 22-3-72 of the S/Shri Jivatlal Partapsi Vasantlal Jivatlal,

Chandrakant jivatlal and Praful Kantilal was read it was noted that Shri Praful

Kantilal Dalal has separated from the partnership firm of M/s. Kantilal Partapsi

with effect from 20-10-71.

21 The application for the undermentioned partnership were considered and were approved Name of the Partnership Firm

Name of the Partners Date of Partnership

M/s. Sumatilal Jamnalal Shri Jamnalal Manruplal Shri Sumatilal Jamnalal Shri Niranjan Jamnalal

16-3-72

M/s. Hiralal Thakardas Nanavati

Shri Kanchanlal Hiralal Shri Pravin Hiralal Nananvati Shri Niranjan Jamnalal Nanavati

1-4-72

22 The letter dated 10-4-72 of Share Bazar Staff Union with considered and it was

resolved to while to them if they want to put up any notice consorting their

members they may kept a notice Board and Stick the notice thereon in the office

of their union, as the Hitvardhak Kendra and others have been to do.

23 The letter dated 15-3-72 of the Ahemedabad Jupiter Spg. Wvg and Mfg. Co. Ltd.

Informing that they not with to continue their shares in our list of Securities traded

on the Exchange was read and it was unanimously resolved that their shares

should be struck off our list of securities traded on the Exchange.

24 Unanimously resolved that as Shivrajpur syndicate has been taken into voluntary

liquidation its shares should be struck off our list of Securities traded on the

Exchange.

25 After going through the correspondence with Hindushtan kokota wire Ltd. It was

unanimously resolved that as the Company does not give relies to our letters and

the information called for from it, the shares of that company should be struck off

our list of Securities traded on the Exchange by giving one moth’s notice.

26 The listing applications of the under mentioned compliances were read and it was

unanimously resolved that the approvals given for listing of their securities

mentioned against their respective names are confirmed:

Permanent Magnets Ltd. New Equity Kohinoor Mills Ltd. New Equity Shares allotted to

shareholders of Navjivan Mills Ltd. 27 The listing applications of the under mentioned companies were considered and it

was unanimously resolved that subject to the listing rules and regulations as well

as compliance with usual requirements and other special requirements stipulated

by us their securities mentioned against their respective names should be

admitted to our list of non clear securities and dealings in those securities should

be done in the trading lots mentioned against the respective securities:

The Indo Burma Petroleum Co. Ltd.

Equity 100 Shares

The Indo Burma Petroleum Co. Ltd.

Preference 5 Shares

Duetron Castings Ltd. Equity 50 Shares Duetron Castings Ltd. Preference 5 Shares Kulkarni Foundries Ltd. Equity 50 Shares Kulkarni Foundries Ltd. Preference 5 Shares

28 The Appeal of Messer’s Jamnadas Virji & Sons against the decisions of the Full

Bench of the Arbitration Committee in their dispute with Messer’s Narandas & Sons

was heard after having judged the pleadings of both the parties it was resolved to

uphold the decision of the Full Bench of the Arbitration Committee.

29 The Appeal of Messer’s R.R Nabar & Co. against the decision of the Full Bench of

the Arbitration Committee in their dispute with Messer’s Jadavji Virji Desai was

taken up for consideration after hearing both the parties, the matter was

postponed for further consideration.


Tuesday, 09.05.1972 A meeting of the Governing Board of the Stock Exchange was held today at ST 3.00

pm under the Chairmanship of Seth Laldas Jamnadas wherein the under mentioned


Shri Laldas Jamnadas Shri Vasantlal Jivatlal

Shri Phiroze J. Jeejeebhoy Shri J. R .Motishaw

Shri Jayant Amerchand Shri Vasantlal Kantilal Shah

Shri Rasiklal Maneklal Shri Babubhai Maganlal Gandhi

Shri Gordhardas bhagwandas Shri Mathradas Samaldas

Shri Jasvantlal Chhotalal Shri Navinchandra Chhaganlal Kampani

Shri Hiralal Girdharlal Shri Bisesarlal Khandelwal

Shri Ashok Girdharlal Fozdar

Government Nomineess

Shri M. N. Deshmukh

Shri S. Rajgopalan

The following business was transacted in the meeting. 1. Resolved that the notices mentioned against the names of the below mentioned

companies regarding Cum-right and Ex-right transactions in their shares are

confirmed

Western India Plywood’s Ltd. Notice no. 667/72 dated 24-4-72

Antifriction Bearings Corporations Ltd. Notice No. 683/72 dated 25-4-72

Bhartia Electric Steel Company Ltd. Notice No. 689/72 dated 25-4-72

Kothari Sugars and Chemicals Ltd. Notice no. 756/72 dated 5-5-72

2. Resolved that the under mentioned notices are confirmed:

1. The Notice No. 625/72 dated 18-4-72 calling for the lists of transactions

in the shares of Shri DINESH MILLS LTD. And Notice no. 645/72 dated

20-4-72 regarding calling for tenders for the shares of that Company

which are to be brought by auction.

2. Notice no. 640/72 dated 21-4-72 and No. 659/72 dated regarding

settlements of transactions

3. Notice no. 712/72 dated 29-4-72 regarding buyers tickets.

4. Notice No. 660/72 dated 21-4-72 forbidding transactions in the shares

of Bank of India Ltd. As that Bank has been amalgamation with the

Ahmedabad Mfg. and Calico Printing Co. Ltd.

3. Resolved that the notices mentioned against the below mentioned companies

regarding permission of delivery of their new shares against their old shares

were confirmed:

Ahmedabad Advance Mills Ltd. Notice No. 646/72 dated 20-4-72

Investment Corporation of India Ltd. Notice No. 666/72 dated 22-4-72

Chemo Pharma Laboratories Ltd. Notice No. 729/72 dated 3-15-72

4. Resolved that in the below mentioned Arbitration matters between members

and non members the time for giving the award is extended as mentioned

against the respective Arbitration matters

Ref. No. Name of the Parties Time date upto when the line award is Extend

1 10 of 69 M/s. Champaklal Jamnadas Vs J. N. Dohi

21-5-72

2 7 of 71 Bhagwant Gajanan Purohit Vs M/s. S. R. Ketkar & Sons

25-5-72

3. 18 of 71 The Advance Insurance Co. Ltd. Vs M/s. B. M. Choksey & Co.

28-5-72

4. 27 of 70 Bhagwatiprasad Omakrind Rungta Vs M/s. Indian Trader and Finance Pvt. Ltd.

25-5-72

5. 15 of 69 Girdharlal Amulakh Shah Vs Shantilal Rajpal Mehta

26-5-72

6. 68 of 63 Kishorlal Thakarsidas Podar Vs Smt. Shantaben Maneklal

27-5-72

7. 24 of 64 M/s. Harishchnadra Gutt & Co. Vs Bhishanchandra Gupta

4-5-72

8. 15 of 70 M/s. G. K. Fozdar Vs Seth Keki Gandhi

29-5-72

9. 23 of 67 M/s. Hill & Rock Vs M/s. J. R. Motishaw & Co

1-6-72

10 44 of 60 Chandulal Chimanlal & Co. Vs Madanlal Podar

4-6-72

11. 17 of 71 M/s. Manmohandas Nemidas Vs Shantilal Salubhai Sanghvi

5-6-72

12. 12 of 71 Durgashankar Udayram Shukla Vs Shantilal Nagindas Mehta

7-6-72

13. N61/61 Vijaykumar Vishwarmbharlal Ruiya Vs M/s. S. R. Dalmia

7-6-72

14. 8 of 68 1. Smt Shantadevi Basudev 2. Shri Parmeshwar Basudev 3. Miss. Sumanlata Basudev 4. Miss. Kusumlata Basudev (Kumar) Heirs and legal Representations of the late Narayandas Basudev vs 1. Bisesar Dayal Mittal Proprietor of

M/s. Mukutlal Bisaserdayal 2. Jaigopal Bansilal Ozha

7-6-72

15. 25 of 70 M/s. Parmanand Bansidar Vs Vshwanath Tode

7-6-72

5. The application of our waterboy Shri Mithal Bhuralal dated 3-5-72 asking for a

loan of Rs.1000/- was considered and it was resolved to give him the loan

asked for.

6. The letter dated 28-4-72 of the ShareBazar Staff Union was read and it was

resolved to write to them that we have nothing to add to the previous

correspondence in that matter.

7. The application dated 5-4-72 of the near relatives of the late Shri Amratlal

Chunilal Shah nominating Shri Hemendra Kumar Kesarchand Shah as a

member of the Exchange in the place of the late Shri Amratlal Chunilal Shah

was considered and after interviewing Shri Hemendra Kumar Kesarchand Shah

and his recommender Shri Dhirajlal N.Shah it was resolved by 14 votes in

favour and none against to elect Shri Hemendra Kumar Kesarchand Shah as a

member of the Exchange in the place of the late Shri Amratlal Chunilal Shah

subject to the Rules and Bye-laws of the Exchange.

8. The application dated 5-4-72 of the near relatives of the late Shri M.N. Marfatia

nominating Shri Jayantilal Manilal Mehta as a member of the Exchange in the

place of the late Shri M.N. Marfatia was considered and after interviewing Shri

Jayantilal Manilal Mehta and his recommender Shri Vadilal Rajpal Mehta it was

resolved by 7 votes in favour and 7 against that he cannot be admitted as a


9. As the Bank of India Ltd., has been amalgamated with The Ahmedabad Mfg.,

and Calico Printers Co.Ltd., it was unanimously resolved to strike off the shares

of Bank of India Ltd., from our list of securities quoted on the Exchange.

10. The listing applications of the undermentioned companies were considered and

it was unanimously resolved that the approvals given for listing of their

securities mentioned against their names below should be confirmed:

The Standard Mills Co. ltd. --- Bonus Equity

Laxmi Machine Works Ltd. --- 2100 equity shares allotted to Reiter Machine

Works Ltd.



as well as compliance with the usual requirements and the other special

requirements stipulated by us, their securities mentioned against their

respective names should be admitted to our list of Non-Cleared securities and

dealings in those shares should be made in the trading lots mentioned against

them:

Rathi Alloys and Steel Ltd – New Equity – 50 shares

Rathi Alloys and Steel Ltd – New Preference – 5 shares

Modi Industries Ltd. – 8% Debentures – Rs.1000/-

12. The listing application of the Tata Engineering and Locomotive Co.Ltd., was

considered and it was unanimously resolved that their undermentioned

securities issued pursuant to the scheme of Amalgamation of the Central Bank

of India with it should be admitted to our list of securities traded on the

Exchange and dealing in those securities should be made in the trading lots

mentioned against them:

New equity – 5 shares. New Equity ‘A’ preference shares – 5 shares 7 3/4% (1975-82) convertible debentures - 5 debentures.


Tuesday, 25-7-72 A Meeting of the Governing Board of the Stock Exchange was held today at S. T 3.00

P.M under the chairmanship of Seth Jaladas Jamnadas wherein the under mentioned


Shri Laldas Jamnadas Shri J. R. Motishaw Shri Phiroze J.Jeejeebhoy Shri A. R. Mahadevia Shri Jayant Amerchand Shri Vasantlal Kantilal Shah Shri Rasiklal Maneklal Shri B. M. Gandhi Shri Jasvant Chhotalal Shri Navinchandra C. Kampani Shri Hiralal Girdharlal Shri Bisesarlal N. Khandelwal Shri Gordhandas Bhagwandas Shri Ashok Girdharlal Fozdar

Government Nominees Shri M. N. Deshmukh

Shri S. Rajmohan The following business was transacted in the meeting: 1. Resolved that the notices mentioned against the below mentioned Companies

regarding Cum-right and Ex-right transactions in the in their shares are confirmed

1. Voltas Ltd. Notice No. 793/72 dated 12-5-72

2. Gokak Mills Ltd. Notice No. 825/72 dated 15-5-72

3. New India Industries Ltd. Notice No. 1060/72 dated 16-6-72

4. Bombay Silk Mills Ltd Notice no. 1092/72 dated 24-6-72

5. Unichem Laboratories Ltd. Notice No. 1101/72 dated 26-6-72

6. Vignyan Industries Ltd. Notice No. 1192/72 dated 29-6-72

7. Tubes & Malleables Ltd. Notice No. 1147/72 dated 5-7-72

2. Resolved that the Notices mentioned against the names of the below mentioned

Companies regarding permission granted to deal in confirms of their bonus shares are

confirmed:

1. Hindustan Aluminum Corporation Ltd. Notice No. 905/72 dated 25-7-72 2. Supreme Industries Ltd. Notice No. 976/72 dated 2-6-72 3. Gokak mills Ltd. Notice no. 1118/72 dated 28-6-

72


Companies regarding permissibility of delivery of their new shares against their old

names are confirmed:

1. The Kohinoor Mills Co. Ltd. Notice No. 959/72 dated 31-5-72 2. Shree Dinesh Mills Ltd. Notice No. 961/72 dated 31-05-72 3. Akmbie Chemical Works Co. Ltd Notice No. 973/72 dated 02-06-72 4. The Indian Hotels Co. Ltd. Notice No. 1125/72 dated 01-07-72 5. G. G. Dandekar Machine Works Notice No. 1125/72 dated 01-07-72 6. Thana Eldrie Supply Co. Ltd. Notice No. 1184/72 dated 12-07-72


1. Notice No. 799/72 dated 12-5-72 regarding transactions in the Equity Shares of

universal Dye Stuff Industries Ltd. To be made in shares of Rs.50/-

2. Notice No. 865/72 dated 20-5-72 regarding permission given for doing business

in the Letter of Renunciation of the new shares of Bhartiya Electric Steel Co. Ltd.

3. Notice no. 924/72 dated 26-5-72 regarding transactions in the shares of Kohinoor

Mills Co. Ltd. To be continues to be done on Cum-dividend basis

4. Notice No. 982/72 dated 5-6-72 regarding transaction of dealings in the shares of

Western India Plywood’s Ltd.

5. Notice No. 993/72 dated 8-6-72 forbidding dealings in the shares of the Union

Bank of India Ltd.

6. Notice No. 1017/72 dated 12-6-72 regarding permission given for dealing in

Letters of Renunciation of the new Equity Shares of Antifriction Bearings

Corporation Ltd.

7. Notice No. 1046/72 dated 15-6-72 forbidding transactions in the Shares of British

India Corporation Ltd. And Notice No. 1065/72 dated 19-6-72 for resumption of

dealings in those shares.

5. It was noted that the Trust-deed of our Debenture Stock had been Registered and the

Allotment of Debenture Stock made so far was approved.

6. Resolved that the Contribution of Rs. 10218/- made to the National Defence Fund

from the Association Fund is approved.

7. Resolved that the time for giving awards in the under mentioned Arbitration

References between members and non-members should be stipulated as under:

Ref. No. Name of the Parties The date upto which time is extend

1. N53 of 63 Kantial Jivanlal Kothari Vs Chimanlal Navinlal Gheewala

10-6-72 and thereafter 10-7-72 and thereafter 10-8-72

2. 10 of 1971 R. R. Ketwal 11-6-72 and thereafter

Vs M/s. B. M. Choksey & Co


3. 35 of 1967 Kantilal Amithlal Shah Vs Harichand Maheshwari


4. 20 of 1966 Jayantilal Koticha Vs Arvindla Nyalchand Shah


5. 13 of 1966 Jamnadas Hemchand Podar Vs Bhagwandas Dhevji


6. 24 OF 1967

Madusudan Narandas Patel Vs J. R. Motishaw & Co


7. 25of 1967 Mrs Hansa Rasiklal Patel Vs M/s. J. R. Motishaw & Co.


8. 10 of 1969 M/s Champaklal Jamnadas Vs J. N. bhal


9. 7 of 1971 Bhagwandas Gajanan Purihit Vs M/s. S. R. Ketkar & Sons

25-6-72

10. 27 of 1970 Bhagwatiprasad Omkarmal Ruiya Vs M/s. Indian Trades and Finance Ltd.

25-672 and thereafter 25-7-72 and thereafter 25-8-72

11. 15 of 1969 Girdharlal Amulakh Shah Vs Shantilal Rajpal Mehta


12. N 68 of 63 Kishorlal Thakarsidas Podar Vs Smt Shantadevi Maniklal


13. 15 of 70 M/s. G. K. Fozdar Vs Seht Keki Gandhi


14. 16 of 71 Harishchandra Gutt & Co. Vs M/s. HP Mehta & Co.


15. 23 of 67 M/s. Hill & Rock Vs M/s. J. R. Motishaw & Co.


16. 24 of 64 M/s. Harishchandra Gutt & Co. Vs Bishanchandra Gupta


17. 41 OF 68 Chandulal Chimanlal & Co. Vs Madanlal Podar


18. 17 of 71 M/s. Manumchandas Nemidas Vs Shantilal Salubhai Sanghvi


19. 1 of 72 Smt. Chandra J. Mirchandani Vs Tikamdas H Javeri

6-672 and thereafter 6-7-72

20. 8 of 68 1. Smt. Shantadevi Basudev 2. Shri Parmeshwar Basudev 3. Miss Sumanlata Basudev 4. Miss Kusumlata Basudev

(minor) The hers and Legal representatives of the late Shri Basudev Narayandas Vs

1. Bisesardayal Mittal , Proprietor of M/s. Mukullal Bisesardayal,

2. Jaigopal Banelal Ojhr


21. 12 of 67 Durgashankar Udayram Shukla Vs Shantilal Nagindas Mehta


22. N 61 OF 61

Vijaykumar Vishwambharlal Ruiya Vs M/s. S. R. Dalmia


23. 2 of 72 G. R. Mansukhan Vs Ticamdas H. Ednani

7-8-72

8. Resolved that in the under mentioned Arbitration References between Members and

Non-Members appointment of Arbitrators should be made as mentioned against the

respective Arbitration references:

Arbitratio

n Ref. No. Name of the Parties Name of the

party on whose behalf of Arbitrator is nomination

Arbitrator Names

1. 3 of 72 M/s. R. R. nabar & Co. Vs P. K. Sabnis

P. K. Ssbnis Shri jayantilal Mansukhlal Dayal

2. 5 of 72 L. V. Vora Vs Vijaykumar Vishwambharlal Ruiya

Vijaykumar Vishwambharlal Ruiya

Shri Jitendra Champaklal Mashruwala

3. 6 of 72 Champaben Virchand Vora Vs Vijaykumar Vishwambharlal Ruiya



4. 7 of 72 Smt J. L. Vora Vijaykumar Shri Jitendra

Vs Vijaykumar Vishwambharlal Ruiya

Vishwambharlal Ruiya

Champaklal Mashruwala

5. 8 of 72 K. Gangadharan Vs Vijaykumar Vishwambharlal Ruiya



6. 4 of 72 M/s. PR Subramnian & Sons Vs M/s. Parka

Mr. Pento Shri Nagindas Trambaklal Parekh

9. The letter dated 10-8-72 of M/s. Sadani Overseas Corporation requesting for

extension of time for appointing an arbitrator in there Arbitration reference against

M/s. Tribhovandas M. Gandhi was considered and it was resolved to give them an

extension of time upto 10-8-72 for appointment of an Arbitrator

10. The letter dated 29-6-72 of S/shri G. D. Bagri and Vallabhdas G. Bagri regarding

dissolution of the partnership between there with effect from 23-3-72 was read and

noted.

11. The letter dated 19-7-72 of S/Shri Jayantilal Rangildas Khandwala, Shantilal

Rangildas Khandwala and Ashok Jayantilal Khandwala regarding dissolution of their

partnership with effect from 28-7-72 was read and noted.

12. The letter dated 21-6-72 of S/Shri Navalchand T. Shah, Yashwant Navalchand Shah

regarding Shri Yashwant Navalchand Shah hearing left the firm of M/s. Navalchand T.

Shah and Co. with effect from 30-6-72 was read and noted.

13. The latter dated 12-7-72 of S/Shri of Shri Keki Dinsha Bomanji and Abhay Dharmashi

Narottam regarding Shri Abhay Dharmashi Narottam separation from the partnership

of M/s. Darsha and Co. with effect from 14-7-72 was read and Noted.

14. The applications for the under mentioned partnership were considered and approved :

Name of the Partnership Firm

Names of Partners Dated of partnership

M/s. G. D. Bagri Shri Gwaldas Hardaslal Bagri Surendrakumar Gwaldas Bagri

23-372

M/s. Jayantilal Khandwala and Sons

Shri Jayantilal Rangildas Khandwala Shri Ashok Jayantilal Khandwala

28-7-72

15. The letter dated 15-7-72 of M/s. Mohanlal Nagardas and Shri Jayant Amerchand were

read and it was resolved to confirm the permission given to Shri Jayant Amerchand as

Representative Member of M/s. Mohanlal Nagardas & Co.

16. The letter dated 6-7-72 of Shri B. N. Mehta was considered and it was resolved to

give him permission to work as the Managing Director of Foods and Inns Ltd. on

condition that so long as the continues to do that job he will not to do any business in

the market in his own name.

17. Resolved that as the Central Government was decided to pay 6% interest on the

Provident Fund we should increased the interest we pay on Staff Provident Fund and

make it 6% with effect from 1-4-72 and whatever shortfall occurs in the interest

income of that fund there by should be made good from the Association Fund.

18. The application of Shri K.V.B.S. Rao of our office was considered and it was resolved

that to accordingly he should be given an additional loan of Rs. 3,500.

19. The applications for loans of the under mention staff members of our office were

considered and it was resolved to give each of them a loan mentioned against his

respective names.

Sepoy Ramchandra Mahadev Rs.2,000/- Sepoy Namdev bhikaji Rs.600/- Sepoy R. K. Chavan Rs.1000/- Sweeper Haraharan Jairam Rs.1000/-

20. The application dated 14-6-72 of Shri M. D. Vyas of our office asking for help for the

College fee of the second LLB of Rs.250/- year and examination fee of Rs.75 was

considered and it was resolved to give him assistance of Rs.325/- from Seth KRP


21. The application dated 27-6-72 of Shri S. M. Davda of our office requesting for

assistance of Rs. 177/- for the college fee of the first term of senior B.Com was

considered and it was resolved to give him that assistance from Seth KRP Shroff


22. The letter dated 12-6-72 of Dr. Murajan was considered and it was resolved that he

should be engaged to propose the history of the Stock Exchange on behalf of the

Stock Exchange Education and Research services and for that he should be given and

overall remuneration of Rs.25,000/- . in addition he may be allowed to appoint one or

more assistants of a of a monthly expense of rs.1,000/- moreover, he should be

provided with services of a steno-typist and sepoy

23. The application dated 2-5-72 of Shri Navinchandra Natvarlal Dalal nominating Shri

Pravinchandra Natvarlal Dalal as a member of the Exchange in his own place was

considered and after interviewing Shri Pravinchandra Natvarlal Dalal and his

recommenders S/Shri Dhirajlal Naginlal and jitendra Champaklal it was resolved by

13 votes in favour and none against to elect Shri Pravinchandra Natwarlal Dalal as a

member of the Exchange in the palce of Shri Navinchandra natwarlal Dalal, subject to

the Rules and Bye-laws of the Exchange.

24. The application dated 15-5-72 of Shri Ramesh Madhavji Trivedi nominating Shri

Jawahar Jausukhlal Jhagirdar as a member of the Exchange in his own place was

considered and after interviewing Shri Jawahir Jaysukhlal Jhagirdar and his

recommenders S/Shri Jayantkumar Khataw and Champaklal Devidas it was resolves

by 13 votes in favour and none against to elect Shri Jawahir Jaysukhalal Jhagirdar as

member of the Exchange in the place of Shri Ramesh Madhavji Trivedi, subject to the

Rules and bye-laws of the Exchange.

25. The application dated 6-672 of near relations of the late Shri Dodi Sorabji Batleewala

nominating Shri nanduchan Manilal Parikh as a member of the Exchange in the place

of late Shri Dosi Sorabji Batleewala was considered and after interviewing Shri

Nanduchan Manilal Parikh and his recommenders S/Shri Navalchand T. Shah and

Narottam B. jhaveri it was resolved by 13 notes in favour and none against to elect

Shri Nanduchan Manilal Parikh as a member of the Exchange in the place of the late

Shri Dodi Sorabji Batleewala, subject to the Rules bye-laws of the Exchange.

26. The listing applications of the under mentioned Companies were considered and it

was unanimously resolved to confirmed listing of their securities mentioned against

their respective names:

The National Rayon Corporation Ltd. Bonus Equity Adarsh Chemicals & Fertilizer Ltd. Bonus Equity Strw Products Ltd. Bonus Equity Hindusthan Aluminum Corporation Ltd. Bonus Equity Zandu Pharmaceuticals Works Ltd. New Equity Ceat Tyres of India Ltd. New Equity Pfizer Ltd. Bonus Equity The Travancore Electro-chemical Industries Ltd.

New Equity

Modi Spg. & Wvg., Mills Co.Ltd. New Equity Warner Hindustan Ltd. Bonus Equity

27.

The listing applications of the undermentioned companies were considered and it was


compliance with the usual requirements and the other special requirements stipulated

by us, their securities mentioned against their respective names should be admitted

to our list of Non-Cleared securities and dealings in those shares should be made in

the trading lots mentioned against them:

Bhoruka Steel Ltd. Equity 50 shares Bhoruka Steel Ltd. Preference 5 shares

Century Metals Ltd. Equity 50 shares Century Metals Ltd. Preference 5 shares Jesons Electronics Ltd. Equity 50 shares Jesons Electronics Ltd. Preference 5 shares Chemo Pulp Tissues Ltd. Equity 50 shares Chemo Pulp Tissues Ltd. Preference 5 shares Alfred Herbert India Ltd. Equity 50 shares Atlas Copco (India) Ltd. Equity 50 shares Modi Rubbers Ltd. Equity 50 shares Vardhman Spg.& General Mills Ltd.

Equity 50 shares

Vardhman Spg.& General Mills Ltd.

Preference 5 shares

Jaybharat Investment and Credit Co-op. Ltd.

Equity 50 shares

Kothari Madras Ltd Equity 50 shares Kothari Madras Ltd. Preference 50 shares The Tata Iron & Steel Co.Ltd. 8% Debentures

1983-87 Rs.1000/-


6% Debentures 1984 Rs. 1000/-

The Surat Elelctricity Co.Ltd. 8% Convertible Debentures

5 debentures

The Standard Mills Co.Ltd. 8% Convertible Bonds

1 bond

Sakthi Sugar Ltd. New equity 50 shares Sakthi Sugar Ltd. New 9.3% Preference 5 shares

28. Unanimously resolved that as the Union Bank of India Ltd., has been amalgamated

with Mahindra & Mahindra Ltd., the shares of the Union Bank of India Ltd., should be

struck off our list of securities traded on the Exchange.

29. The Chairman gave details of the large number of stenciled split Receipts of Scindia

shares delivered in the market through the Clearing House by M/s J.J. Kapadia & Co.,

in the settlement which had been delayed because of the last strike by employees of

the members and therefore done on 13-7-72. At that time Shri Nalin Lodhiwala

partner of M/s J.J. Kapadia & Co., was present. During the discussion that took place

thereafter Shri Nalin Lodhiwala gave clarification in response to the questions he was

asked. After Shri Lodhiwala left and the matter was further discussed

recommendation was made to the President to make investigation in the matter as

deemed proper by him.

Sd/- Sd/- A.J. Shah Gordhandas Bhagwandas Secretary President Dt: 19-9-72

Tuesday, 19.09.1972 A meeting of the Governing Board of the Stock Exchange was held today at ST 3.00

pm under the Chairmanship of Shri Gordhandas Bhagwandas wherein the under

mentioned members of the Board were present:

Shri Gordhandas Bhagwandas Shri Vasantlal Kantilal Shah

Shri Phiroze J. Jeejeebhoy Shri Babubhai Maganlal Gandhi

Shri Rasiklal Maneklal Shri Mathradas Samaldas

Shri Jasvantlal Chhotalal Shri Navinchandra Chhaganlal Kampani

Shri Hiralal Girdharlal Shri Bisesarlal Khandelwal

Shri Vasantlal Jivatlal Shri Ashok Girdharlal Fozdar

Shri J. R .Motishaw

Government Nominees

Shri M. N. Deshmukh

Shri S. Rajgopalan

The following business was transacted in the meeting. 1. Resolved that the notices mentioned against the names of the undermentioned

companies regarding cum-right and ex-right transactions in their shares are

confirmed

1. The Andhra Pradesh Paper Mills Ltd. Notice no. 1370/72 dated 9-8-72

2. Shree Digvijay Cement Co.Ltd. Notice No. 1420/72 dated 18-8-72

3. Associated Rubber Industries Ltd. Notice No. 1426/72 dated 19-8- 72


companies regarding permissibility of delivery of their new shares against old

shares are confirmed:

1. Tata Merlyn and Garin Ltd. Notice No:1288/72 dt.27-7-72 2. The East India Hotels Ltd. Notice No:1410/72 dt.16-8-72 3. Garware Nylons Ltd. Notice No:1557/72 dt. 6-9-72 4. Poysha Industrial Co. Ltd. Notice No:1581/72 dt. 9-9-72 5. Zandu Pharmaceutical Works Ltd. Notice No:1586/72 dt.12-9-72 6 Estrella Batteries Ltd. Notice No:1587/72 dt.12-9-72

3. Resolved that the notices mentioned against the below mentioned companies

regarding permission given for doing business in the coupons of their bonus


1.Unichem Laboratories Ltd. Notice No. 1386/72 dated 11-8-72

2.The New India Industries Ltd. Notice No. 1427/72 dated 19-8-72

3.The Bombay Silk Mills Ltd. Notice No. 1509/72 dated 30-8-72


companies regarding permission given for dealing in Letter of Renunciation of

their new shares are confirmed:

1.Voltas Ltd. Notice No. 1294/72 dated 28-7-72

2.Vignan Industries Ltd. Notice No. 1325/72 dated 2-8-72

3.Tubes and Malleables Ltd. Notice No. 1333/72 dated 3-8-72


1. Notice No:1278/72 dated 26-7-72 regarding keeping the market closed for

business on Monday 31-7-72 and keeping it open on Saturday 26-7-72.

2. Notices No: 1281/72 dated 27-7-72, No:1291/72 dated 28-7-72 and

No:1378/72 dated 14-8-72 regarding settlement of shared settled by Red black

forms 6-A and 7-A.

3. Notice No:1290/72 dated 28-7-72 regarding programme of Buyers’ Tickets.

4. The undermentioned notices regarding special settlements of Hand Delivery

transactions :

Notice No:1344/72 dated 5-8-72






5. The Notice No:1348/72 dated 7-8-72 regarding resumption of dealings in the

shares of the United Commercial Bank Ltd.

6. Notice No: 1374/72 dated 10-8-72 regarding keeping the market closed for

business on Monday 14-8-72 and keeping it open on Saturday 12-8-72.

7. Notice No:1407/72 dated 16-8-72 regarding dividend on the shares of the

British India General Insurance Co.Ltd.

8. Notice No: 1445/72 dated 23-8-72 regarding the Association Holiday of Jain

Samvatsari on Tuesday 12-9-72.

6. Resolved to extend the time for making awards in the Arbitration References

between members and non members as mentioned below:

Ref. No. Name of the Parties Time date upto when the line award is Extend

1 15 of 1969

Girdharlal Amulakh Shah v/s Shantilal Rajgopal Mohta


2 N 68 of 63

Kishorilal Thakarsidas Podar v/s Smt. Shantadevi Maneklal


3. 16 of 71 M/s Harishchandra Gutt & Co. v/s M/s N.P. Mehta & Co.


4. 15 of 70 M/s G.K.Fozdar v/s Shri Keki Gandhi 29-8-72 5. 23 of 67 Hill & Rock v/s J.R. Motishaw & Co 1-9-72 and

thereafter 1-10-72

6. 24 of 64 M/s Harishchandra Gutt & Co. v/s Bishchandra Gupta


7. 41 of 68 Chandulal Chunilal & Co. v/s Madanlal Podar


8. 17 of 71 M/s Manmohandas Nemidas & Co. v/s Shantilal Salubhai Sanghvi


9. 1 of 72 Mrs. Chavda J. Mirchandani v/s Tikamdas M. Eidnani


10 12 of 71 Durgashankar Udayram Shukla v/s Shantilal Nagindas Mehta


11. 8 of 68 1. Smt. Shantadevi Basudev 2. Shri Parmeshwar Basudev 3. Miss Sumanlata Basudev 4. Miss Kusumlata Basudev (minor) Heirs & legal representative of M/s Basudev Narayandas

v/s 1. Bissesar Dayal Mittal, Proprietor of

M/s Mukutlal Bissesar Dayal 2. Jay Gopal Bansilal Ojha


12. N61 of 61 Vijaykumar V. Ruiya v/s S.R. Dalmia 7-9-72 and thereafter 7-10-72

13. 2 of 72 G.R. Mansukhani v/s Tikamdas M. Eidnani


14. N53 of 63 Kantilal Jivanlal Vakharia v/s Chunilal Manilal Gheewala

10-9-72

15. 10 of 91 R.R. Kotwal v/s M/s B.M. Choksey 11-9-72 16. 35 of 67 Kantilal Amthalal Shah v/s Harichand

Maheshwari 13-9-72

17. 20 of 66 Joyuntilal Koticha v/s Arvind Nyalchand Shah


18. 13 of 71 Jamnadas mulchand Parekh v/s Bhagwandas Dhanji


19. 24 OF 67 Madhusudan Narandas Patel v/s J. R. Motishaw & Co.


20. 25 of 67 Mrs. Hansa Rasiklal Patel v/s M/s J. R. Motishaw & Co.


21. 10 of 69 M/s Champaklal Jamnadas v/s J N Bhatt

20-09-72

22. 21 of 71 M/s C M Shah v/s Rajnikant Vrijlal 21-09-72 23. 22 of 71 M/s C M Shah v/s Purshottamdas B.

Shah 21-09-72

24. 27 of 70 Bhagwatiprasad Omkar Panglow v/s Indian Trades & Finance Ltd.

25-09-72

25. 14 of 70 Ishawasrlal Manordas Shay v/s Suresh F Gunderia

30-09-72

7. Resolved That in the undermentioned Arbitration References between Members

and Non Members appointment of Arbitrators should be made as follows;

Sr. No. Ref. No.

Names of the parties Name of the party on whose behalf Arbitrator is appointed

Name of the Arbitrator

1. 15 of 72

Sobhagyachand Harichand Vore v/s B. M. Choksey & Co.

M/s B. M. Choksey & Co.

Shri Nagindas Trambeklal Parekh

2. 14 of 71

P. R. Subramanyam & Sons v/s B. Suryanarayan Murthy

s B. Suryanarayan Murthy

Shri Jitendra Champaklal Markruwala

8. Resolved to confirm the investments made from the undermentioned funds as

follows:

Sir Shapurji Barocha brokers Helping Fund

The fixed Deposit of Rs. 50,000 at 8% p.a with the Stock Exchange

Shri M. C. Mehta Smarak Fund 5 ¾% Maharashtra Stock Development Loan of the Face Value of Rs. 55,000 at Rs. 100/10 per Rs. 100

Rogilal Rajaram Mehta Brokers Helping Fund

FD of Rs. 15,000 at 8% p.a. interest with the Stock Exchange 2) 5 ¾% Maharashtra Stock

Development Loan 1983 of the Face Value of Rs. 16,000 @ Rs. 100/10 per Rs. 100

Famine Relief Fund 5 ¾% Maharashtra Stock Development Loan 1983 of the face value of Rs. 15,000/- at the rate of Rs. 100/10 per Rs. 100

Dharmada Fund 5 ¾% Maharashtra Stock Development Loan 1983 of the face value of Rs. 15,000/- at the rate of Rs. 100/10 per Rs. 100

M C Baxi prize Fund 5 ¾% Maharashtra Stock Development Loan 1983 of the face value of Rs. 400/- at the rate of Rs. 100/10 per Rs. 100

Seth Shantilal Jamnadas Smarak Fund

5 ¾% Maharashtra Stock Development Loan 1983 of the face value of Rs. 3800/- at the rate of Rs. 100/10 per Rs. 100

Sankat Nivaran Fund 5 ¾% Maharashtra Stock Development Loan 1983 of the face value of Rs. 2000/- at the rate of Rs. 100/10 per Rs. 100

9. “Resolved That the safe custody accounts No:2 to 11 with Bank of India in the

names of the Trustees of the Exchange, namely Shri K.R.P. shroff and others be

closed and instead new safe custody accounts No: 2 to 11 in the name of the

Stock Exchange be opened with Bank of India and such new safe custody

accounts be operated on jointly by the President Shri Laldas Jamnadas or the

Chairman Shri P.J. Jeejeebhoy or the Vice-President Shri Jayant Amerchand or

the Hon. Treasurer Shri Mathradas Samaldas, and by any one of the following

eight members of the Governing Board namely, Shri Gordhandas

Bhagwandas,Shri Rasiklal Maneklal, Shri Vasantlal Champaklal, Shri

Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri Vasantlal Kantilal Shah,

Shri B.M. Gandhi and Shri A.R. Mahadevia and be countersigned by the

Secretary, Shri A. J. Shah.”

10. The application for loan dated 12-09-72 of shri Joe Baraco of our office was

considered and it was resolved to give him a loan of Rs. 700/-.

11. The Letters dated 17-08-72 of S/Shri Narottam B Jhaveri and Nandvadan M.

Parikh were read and it was resolved to confirm and the permission given to

Shri Nandanvan M. Parikh as a Representative member of Shri Narottam B.

Jhaveri.

12. The Letter dated 25-08-72 of Shri Sohanlal Badriprasad authorizes his son Shri

Umasahnkar Sohanlal to dispose of his membership right after his demise was

noted and it was resolved that the Board at that time would do the needful in

that connection.

13. The Letter dated 06-09-72 of Shri Vasantlal Kantilal Shah and Shri Kirtilal

Kantilal Shah was considered and it was noted that their partnership will

continue from 05-09-72 under the firm name of M/s K.J. Shah and Sons.

14. The Letter dated 15-09-72 of the Bai Chandanben Jamnadas Parikh, Shri

Babubhai Jamnadas Parikh, Shri Chinubahi Jamnadas Parikh and Mrs. Gunvan

Jamnadas Parikh was read and it was resolved that Shri Varjivan Chimanlal

Parikh should be given permission to continue the business of the Late Shri

Jamnadas Mulchand Parikh for three Months.

15. The application dated 29-3-72 of Sir Shapurji Siksha Pracharak Mandal for help

was considered and it was resolved to give that institution help of Rs.100/-

from the Stock Exchange Education and Research Services.

16. The letter dated 1-8-72 of the Chartered Bank for becoming a member of our

Clearing House was considered and it was resolved to admit that Bank as a

member of our Clearing House subject to our Rules, Bye-laws and Regulations.

17. The Report, Income and Expenditure Account and the Balance Sheet of our

Association for the year 1971 were passed.

18. Resolved that the undermentioned persons of the present temporary staff of

our Statistical department should be confirmed and they should be given the

salary in the grades as mentioned against their respective names with effect

from 1-9-1972:

1. Shri Noel Baraco – ‘B’ grade – Rs.95/-

2. Shri R.R. Shivalkar – ‘B’ grade – Rs.85/-

3. Shri C.V. Valson – ‘C’ grade – Rs.65/-

4. Shri T.G. Babu -- ‘C’ grade – Rs.60/-

5. Shri A.B.S. Nair -- ‘C’ grade – Rs. 60/-

6. Shri N.M. Ale -- ‘C’ grade – Rs. 50/-

Further resolved that the undermentioned members of the temporary staff

should each be given an increase of Rs.15/- in their monthly salary w.e.f. 1-9-

72:

1. Shri M.V. Bhandari

2. Shri J.L. Quodros

3. Shri V. Mohan

4. Shri Lonath Sankesh

5. Shri K. Jambunakshan

19. The application dated 7-4-72 of the near relatives of the late Shri Girdharlal

Gulabchand nominating Shri Bharat Begraj Gupta as a member of the Exchange

in the place of the late Shri Girdharlal Gulabchand was considered and after

interviewing Shri Bharat Begraj Gupta and his recommenders S/Shri Shantilal

L/ Thar and M.C. Mohta the matter was postponed for further consideration.

20 The application dated 17-7-72 of the legal representatives (near relatives) of

the late Shri Savaksa D. Kerawala nominating Shri Sam Framroz Lala as a

member of the Exchange in the place of the late Shri Savaksa D. Kerawala was

considered and after interviewing Shri Sam Framroz Lala and his

recommenders S/Shri M.N. Mohta and R.A. Bilimoria it was resolved by 12

votes in favour and none against to elect Shri Sam Framroz Lala as a member

of the Exchange in the place of the late Shri Savaksa D. Kerawala subject to

the Rules, Bye-laws and Regulations of the Exchange on the condition that he

should not do business in the market in his own name for two years.

21 The application dated 10-8-72 of Shri Mohanlal Manekchand Parekh

nominating Shri Vallabhdas Chunilal Mehta as a member of the Exchange in his

own place was considered and after interviewing Shri Vallabhdas Chunilal

Mehta and his recommenders S/Shri Nagardas Ravji and Dhirajlal Narottamdas

Shet it was resolved by 12 votes in favour and none against to elect Shri

Vallabhdas Chunilal Mehta as a member of the Exchange in the place of Shri

Mohanlal Manekchand Parekh subject to the Rules and Bye-laws of the

Exchange.

22 Resolved that a Memorandum should be submitted on our behalf in connection

with the companies (Amendment) Bill 1972.

23 The correspondence with Madhusudan Industries was gone through and it was

resolved to change the trading lot of its shares and make it of 5 shares instead

of 1 share.


it was resolved that the permission given for admission of their securities

mentioned against their respective names to our list of securities traded on the

Exchange should be confirmed:

The Gokak Mills Ltd. --- Bonus equity

Indian Organic Chemicals Ltd. – Old equity

Sakthi Sugars Ltd. – New Equity and New Preference

Jiajerao Cotton Mills Ltd. – Bonus Equity

The Bombay Silk Mills Ltd – Bonus Equity

25 The listing applications of the Stock Exchange was considered and it was

resolved that their 8% Debenture stock 1981-86 should be admitted to our list

of securities traded on the Exchange and dealings in the aforesaid debenture

should be made in lots of Rs. 5000/- each.

26 The listing application of the undermentioned companies were considered and it

was unanimously resolved that subject to the Listing Regulations as well as

compliance with the usual requirements and other special requirements

stipulated by us their undermentioned securities should be admitted to our list

of Non-cleared securities traded on the Exchange and dealings in thos securities

should be made in the trading lots mentioned against them:

Bright Light Carbons Ltd Equity 50 shares Bright Light Carbons Ltd. Preference 50 shares Eurocoat (India) Ltd. Equity 50 shares Eurocoat (India) Ltd. Preference 5 shares Platewall Processed and Chemicals Ltd.

Equity 50 shares

Vidarbha Glass Works Ltd. Equity 50 shares Punjab Tractors Ltd. Equity 50 shares Punjab Tractors Ltd. Preference 5 shares JG Glass Ltd. Equity 50 shares Madhya Pradesh Electricity Board 6% Bonds 1984 Uttar Pradesh State Electricity Board

6% Bonds 1981 (second series) 6% Bonds 1982 (special series) 6% Bonds 1982 (First series) 6% Bonds 1983 (First series) 6% Bonds 1982 (Second series)

Larsen & Toubro Ltd. Allotment made to the shareholders of Buckwall India Ltd., and Canara Bank New Equity New Preference 8% convertible bonds 8% Redeemable Bonds

10 shares 25 Bonds 10 Bonds

Swastik Rubber Products Ltd. Allotment made to the shareholders of

Bank of Maharashtra New Equity 8% Convertible Debentures.

50 shares 50 debentures


Tuesday, 24-10-72 A meeting of the Governing Board of the Stock Exchange was held to-day at S.T. 3.30 p.m. under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned Members of the Board were present. Shri Laldas Jamnadas Shri Vasantlal Jivatlal Shri Phiroze J. Jeejebhoy Shri J.R. Motishaw Shri Rasiklal Maneklal Shri Vasantlal Kantilal Shah Shri Jaswantlal Chhotalal Shri B.M. Gandhi Shri Hiralal Girdharlal Shri Mathradas Samaldas Shri Gordhandas Bhagwandas Shri Bissesarlal N. Khandelwal Shri Ashok G. Fozdar


The following business was transacted in the meeting: 1. At the start of the meeting the President stated that as Shri M.N. Desmukh, Dy.

Director, Stock Exchange Division is to revert to the Income-Tax department

within a short time on getting promotion there, his presence to day as a

Government Nominee may perhaps be last one. The President made a mention of

the support and co-operation given by Shri Deshmukh during his lifetime as a

Government Nominee and also the constructive view taken by him and thanked

him expressing the hope that he will continue to take interest in the matter

relating to the Stock Exchange in future also.

Shri Deshmukh responded with thanks for the co-operation received by him from

the Board during his appointment as a Government Nominee on the Board and

assured that the high opinion held by him for the Bombay Stock Exchange will

always continue to be there.


companies regarding cum-right and ex-right transactions in the shares of the

concerned companies are confirmed:

1 The Gaikwad Mills Ltd. Notice No:1663/72 dt. 25-9-72 2 Sylvania and Laxman Ltd. Notice No:1719/72 dt.3-10-72 3 The Century Spg. & Mfg. Co.Ltd. Notice No:1814/72 dt. 19-10-72


1) Notice No. 1722/72 dated 3-10-72, No:1736/72 dated 5-10-72 and

No:1803/72 dated 16-10-72 regarding the shares settled by red and black

forms Nos:6-A and 7-A.

2) Notice No. 1795 dated 13-10-72 regarding Kaplis.

3) Notice No. 1835/72 dated 21-10-72 regarding permission given to deal in

Letters of Renunciation of new Equity shares of Sylvania and Laxman Ltd.

4) Notice No. 1843/72 dated 23-10-72 regarding keeping the market open on

every alternate Saturday.

4. Resolved that in the undermentioned Arbitration References between members

and non-members the time for giving the award is extended as mentioned against

each Arbitration Reference:

Sr. No:


Name of the parties The time for giving the award extended upto:

1 10 of 69 M/s Champaklal Jamnadas vs J.N. Bahl


2 21 of 71 M/s C.M. Shah vs Rajnikant Vrijlal


3 22 of 71 M/s C.M. Shah vs Purshottam B. Shah


4 27 of 70 Bhagwatiprasad Omkarmal Rungta vs Indian Trades & Finance (Pvt) Ltd.

25-10-72

5 15 of 69 Girdharlal Amulakh Shah vs Shantilal Rajpal Mehta

26-10-72

6 N68 of 63 Kishorilal Thakarsidas Podar vs Smt. Shantadevi Mohanlal

27-10-72

7 16 of 71 M/s Harishchandra Gutt & Co. vs M/s H.P. Mehta & Co.

29-10-72

8 14 of 70 Ishwarlal Manordas Shah vs Suresh F. Gunderia

31-10-72

9 23 of 67 M/s Hill & Rock vs J.R. Motishaw & Co.

1-11-72

10 24 of 64 M/s Harishchandra Gutt & Co. vs Bishanchandra Gupta

4-11-72

11 41 of 68 M/s Chandulal Chunilal & Co.vs Madanlal Poddar

4-11-72

12 17 of 71 M/s Manmohandas Nemidas vs Shantilal Salubhai Sanghvi

5-11-72

13 1 of 72 Mrs. Chandra I. Mirchandani vs Tikamdas H. Eidnani

6-11-72

14 12 of 71 Durgashankar Udayam Shukla vs Shantilal Nagindas Mehta

7-11-72

15 2 of 72 G.R. Mansukhani vs Tikamdas H. Eidnani

7-11-72

16 N61 of61 Vijaykumar Vishwambharlal Ruiya vs M/s S.R. Dalmia

7-11-72

17 8 of 68 1.Smt. Shantadevi Basudev 2.Shri Parmeshwar Basudev 3.Miss Sumanlata Basudev 4.Miss Kusumlata Basudev (minor) Heirs and legal representative of the late Basudev Narayandas vs 1.Bissesar Dayal Mittal, Proprietor of M/s Mukatlal Bissesar Dayal. 2. Jaygopal Bansilal Ojha

7-11-72

18 N53 of 63 Kantilal Jivanlal Vakharia vs Chunilal Manilal Gheewala


19 10 of 71 R.R. Kotwal vs M/s B.M. Choksey & Co.


20 35 of 67 Kantilal Amthalal Shah vs Harichand Maheshwari


21 20 of 66 Joyuntilal Koticha vs Arvind Nyalchand Shah

17-11-72

22 13 of 71 Jamnadas Nyalchand Parekh vs Bhagwandas Dhanji

17-11-72

23 24 of 67 Madhusudan Narandas Patel vs M/s J.R. Motishaw & Co.

18-11-72

24 25 of 67 Mrs. Hansa Rasiklal Patel vs M/s J.R. Motishaw & Co.

18-11-72

5. Resolved that as Arch Investment (Pvt) Ltd., have failed to appoint their Arbitrator

in the Arbitrarion between M/s B.M. Choksey & Co., and Arch Investment (Pvt.)

Ltd., Shri Jitendra Champaklal Mashruwala should be appointed as an Arbitrator on

their behalf.

6. The application for help of the undermentioned institutions were considered and it

was resolved to give each of them Rs. 101/- from the Association Fund:

Indian Red Cross Society. The Maharashtra State anti-tuberculosis Association. The Deaf and Dumb School, Solapur Shri Bedipara Harijan Yuvak Mandal.

7. Resolved that Shri Shadev Kamkar should be given help of Rs. 1560/- from Seth

KRP Shroff Stock Exchange Sarvajanik Fund.

8. Resolved that the Stock Exchange Badge Holders Medical Relief Centre and

Dispensary should be given help of Rs.5001/- from Seth KRP Shroff Stock


9. The application dated 16-10-72 of Shri S.M. Daver of our office for giving him

assistance of the college fee for the 2nd term of the Senior BCom was considered

and it was resolved to give him assistance of Rs.175/- from Seth KRP Shroff Stock


10. The applications of the undermentioned persons who have given up their

employments as our staff for giving them their Provident Fund dues were

considered and it was resolved to pay them the amounts of their Provident Fund

dues as mentioned against their respective names:

Mansinh Gamersinh – Rs.1219.03 Fakerchand Harbhajan – Rs. 510.66 K. Manjunath – Rs. 491.08

11 The letter dated 12-10-72 of S/Shri P.D. Bilimoria, M.A. Karanjia, S.A. Karanjia,

M.N. Gandhi, R.D. Sethna and H.F. Munshi was read and it was noted that Shri

P.D. Bilimoria and Shri R.D. Sethna had separated from the partnership firm of

M/s Batliwala and Karani with effect from 15-10-72.

12 The letter dated 19-9-72 of S/Shri Venishankar D. Vyas and A.H. Muchala were

noted and it was resolved that the permission given to Shri A.H. Muchala to do

business as a Representative Memmber of Shri Venishankar D. Vyas should be

confirmed.

13 Resolved that on Sunday 5-11-72 our market should be kept open from 6.15pm to

7.15 pm for entering into transactions for Muhurat business for Kartik Vikram

Samvat 2029.

14 The Association Holidays for the year 1973 our market should be kept entirely

closed for business as it happens to be the Dhan Teras Holiday.

15 The Reports of Sir Shapurji Broacha Brokers’ Helping Fund committee dated 10-8-

72 and 21-9-72 were gone through and approved.

16 The application dated 16-10-72 of our sepoy Pandurang Z. Ghade requesting for a

loan of Rs.1000/- for getting his house repaired was considered and it was


17 The application dated 15-9-72 of the legal representatives of the late Shri M.N.

Marfatia nominating Shri Brijmoan Sagarmal as a member of the Exchange in the

place of late Shri M.N. Marfatia was considered and after interviewing Shri

Brijmohan Sagarmal and his recommenders S/Shri Mansukhlal Maneklal and

Champaklal Jamnadas it was resolved by 13 votes in favour and none against to

elect him as a member of the Exchange in the place of the late Shri M.N. Marfatia,


18 The application dated 10-8-72 of Shri Bhogilal G. Shah nominating Shri

Hasmukhlal Tribhovandas Shah as a member of the Exchange in his own place was

considered and after interviewing Shri Hasmukhlal Tribhovandas Shah and his

recommender Shri Jivandas Virji it was resolved by 13 votes in favour and none

against to elect him as a member of the Exchange in the place of Shri Bhogilal G.

Shah subject to the Rules and Bye-laws of the Exchange.

19 The application dated 21-9-72 of Shri Noshirvan Cavasji Lakdavala nominating

Shri Jeram Thakarsey Halai as a member of the Exchange in his own place was

considered and after interviewing Shri Jeram Thakarsey Halai and his

recommenders S/Shri Nagindas Chhaganlal and Ishwarlal M. Dalal it was

resolved by 13 votes in favour and none against to elect Shri Jeram Thakarsey

Halai as a member of the Exchange in the place of Shri Noshirvan Cavasji

Lakdavala subject to the Rules and Bye-laws of the Exchange.

20 The application dated 21-9-72 of the near relatives of the late Shri Kantilal

Jagjivandas nominating Shri Kirtilal Kantilal Shah as a member of the Exchange

in the place of late Shri Kantial Jagjivandas was considered and after interviewing

Shri Kirtilal Kantilal Shah and his recommenders S/Shri Ratilal J. Shah and Suresh

K. Vakil it was resolved by 13 votes in favour and none against to elect Shri

Kirtilal Kantilal Shah as a member of the Exchange in the place of the late Shri

Kantilal Jagjivandas, subject to the Rules and Bye-laws of the Exchange.

21 The application dated 18-8-72 of the near relatives of late Shri Tribhovandas

Gordhandas Damani nominating Shri Mahendrakumar Himatlal Trivedi as a

member of the Exchange in place of the deceased was considered and after

interviewing Shri Mahendrakumar Himatlal Trivedi and his recommenders Shri

Narandas Jamnadas, the matter was postponed for further consideration.

22 The listing application of Associated Rubber Industries Ltd., was considered and it

was unanimously resolved to admit its bonus equity shares to our list of securities

traded on the Exchange.

23 The listing applications of the under mentioned companies were considered and it

was unanimously resolved to admit their securities mentioned against their

respective names to our list of Non-cleared securities subject to the Listing Rules

and Regulations as well as compliance with the usual requirements and other

special requirements stipulated by us and to make dealings in those securities in

the trading lots mentioned against them:

Anil Steel Ltd. Equity 50 shares Anil Steel Ltd. Preference 5 shares Terfort Tyres Ltd. Equity 50 shares Terfort Tyres Ltd. Preference 5 shares Polygas Ltd. Equity 5 shares Purandur Paper Mills Ltd. Equity 50 shares Purandur Paper Mills Ltd. Preference 5 shares Rathi Ispat Ltd. New Equity 50 shares Rathi Ispat Ltd. New Preference 5 shares The State Industrial and Investment Corporation of Maharashtra Ltd.

6% bonds 1984 Rs. 1000/-

Mahindra & Mahindra Ltd. New Equity 50 shares Mahindra & Mahindra Ltd. 8% Convertible

bonds 30 bonds

24 Resolved that as the equity shares 9% and 9.5% Preference shares of Swastik

Rubber Products Ltd., and Equity shares of Sakthi Sugar Ltd., have been sub-

divided into shares of Rs.10/- each, dealings in those shares should be maded in

trading lots of 50 shares of Rs.10/- each.

25 The letter dated 27-9-72 of Sbanea Pistons and Rings Ltd., and the letter dated

14-10-72 of Prstolite of India Ltd., was read and it was unanimously resolved that

the shares of those companies should be struck off our list of securities traded on

the Exchange.


Tuesday, 28-11-72 A meeting of the Governing Board of the Stock Exchange was held to-day at S.T. 3.30 p.m. under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned Members of the Board were present. Shri Laldas Jamnadas Shri Vasantlal Jivatlal Shri Phiroze J. Jeejebhoy Shri J.R. Motishaw Shri Rasiklal Maneklal Shri Vasantlal Kantilal Shah Shri Jaswantlal Chhotalal Shri B.M. Gandhi Shri Hiralal Girdharlal Shri Mathradas Samaldas Shri Gordhandas Bhagwandas Shri Navinchandra C. Kampani Shri Vasantlal Champaklal Shri Ashok G. Fozdar

Government Nominees Shri S. Rajgopalan




1 The Indian Aluminum Co. Ltd. Notice No:1868/72 dt. 26-10-72 2 The Maharashtra Sugar Mills Ltd. Notice No:1919/72 dt.1-11-72 3 All-bright Morarjee & Pandit Ltd. Notice No:1921/72 dt. 2-11-72 4 Vickers Sperry of India Ltd. Notice No:1950/72 dt. 4-11-72 5 Bayer (India) Ltd. Notice No:2002/72 dt. 16-11-72 6 Kamani Engineering Corporation

Ltd. Notice No:2017/72 dt. 17-11-72

7 Graphite India Ltd. Notice No:2036/72 dt. 21-11-72

2. RESOLVED THAT the notices mentioned against the names of the undermentioned

companies regarding permissibility of delivery of their new shares against their old


1 Graphite India Ltd Notice No:1902/72 dt.30-10-72 2 Mahindra & Mahindra Ltd. Notice No:1980/72 dt.14-11-72


1. Notice No:1866/72 dated 26-10-72, No:1959/72 dated 9-11-72 ,

No:2031/72 dated 21-11-72 regarding settlements of shares done by Red-

black forms 6-A and 7-A.

2. Notice No: 1890-72 dated 28-10-72 regarding the shares of New India

Assurance Co.Ltd.

3. Notice No:1922/72 dated 2-11-72 regarding special delivery contracts of

bonus shares of Century Mills Ltd.

4. Notice No:2009-72 dated 16-11-72 forbidding transactions in the shares of

Insurance Companies from the day of 2-12-72.

4. Resolved that the time for making the award in the undermentioned Arbitration

References between members and non-members is extended as stated below

against the respective references:

Sr. No:


Name of the parties The time for giving the award extended upto:

1 27 of 70 Bhagwatprasad Omkarmal Rungta v/s M/s India Trades and Finance Pvt.Ltd.




3 N68 of 63 Kishorilal Thakarsidas Podar v/s Smt.Shantadevi Maneklal


4 16 of 71 Harishchandra Gutt & Co. v/s M/s H.P. Mehta & Co.

29-11-72

5 14 of 70 Ishwarlal Manordas Shah v/s Suresh F. Gunderia

30-11-72

6 23 of 67 M/s Hill & Rock v/s M/s J.R. Motishaw & Co.

1-12-72

7 24 of 64 M/s Harishchandra Gutt & Co., v/s Birhanchandra Gupta

4-12-72

8 41 of 68 Chandulal Chunilal & Co., v/s Madanlal Podar

4-12-72

9 1 of 72 Mrs. Chandra J. Mirchandani v/s Trikamdas H. Eidnani

6-12-72

10 2 of 72 G.R. Mansukhani v/s Trikamdas H. Eidnani

7-12-72

11 8 of 68 1. Smt. Shantadevi Basudev 2. Shri Parmeshwar Basudev 3. Miss Sumanlata Basudev 4. Mrs. Kusumlata Basudev

(minor) Heirs and legal representatives of late Shri Basudev Narayandas.

v/s 1. Bissesardayal Mittal,

Proprietor of M/s Mukutlal Bisesar Dayal.

2. Jaigopal Bansilal Ozha.

7-12-72

12 12 of 71 Durgaprasad Udayram Shukla v/s Shantilal Nagindas Mehta

7-12-72

13 N61 of 61 Vijaykumar Viswabharlal Ruiya v/s S.R. Dalmia

7-12-72

14 N53 of 63 Kantilal Jivanlal Vakharia v/s Chunilal Manilal Gheewala

10-12-72

15 10 of 71 R.R. Kotwal v/s M/s B.M. Choksey & Co.

11-12-72

16 35 of 67 Kantilal Amthalal Shah v/s Harichand Maheshwari

13-12-72


17-12-72

18 13 of 71 Jamnadas Mulchand Parekh v/s Bhagwandas Dhanji

17-12-72

19 24 of 67 Madhusudan Narandas Palet v/s M/s J.R. Motishaw & Co.

18-12-72

20 25 of 67 Mrs. Hansa Rasiklal Palet v/s M/s J.R. Motishaw & Co.

18-12-72

21 10 of 69 M/s Champaklal Jamnadas v/s J.N. Bahl

20-12-72

22 27 of 71 M/s C.M. Shah v/s Rajnikant Vrajlal

21-12-72

23 22 of 71 M/s C.M. Shah v/s Purshottam B. Shah

21-12-72

5. The letter dated 1-11-72 of the Indian Merchants Chamber to consider

appointment of a co-ordinating committee of representatives of different trade

organisations for contributions by the business community for relief work in

connection with the famine distress in the country was considered. It was resolved

to appoint S/shri Laldas Jamnadas, Jayant Amerchand, Vasantlal Champaklal, A.R.

Mahadevia and Babubhai H. Gandhi as our representatives in that connection.

6. The application dated 20-11-72 of Shri H.A. Patni typist of our office staff to give

him assistance for the expenses incurred by him for medical treatment of his wife

and daughter during their illness was considered and it was resolved to give him

assistance of Rs.400/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund.

7. The application dated 17-11-72 of our accountant Shri A.B. Desai to give him a

loan for the marriage of his sister was considered and it was resolved to give him a

loan of Rs.2000/-.

8. The applications for the undermentioned partnership were considered and it was

resolved to approve them:

Name of the Partnership firm

Name of Partners Date of Partnership

M/s K.J.Shah & Sons Shri Vasantlal Kantilal Shah Shri Kirtilal Kantilal Shah

25-10-72

M/s M.K. Choksey & Co. Shri Pravin Mangaldas Choksey 7-11-72

Shri Dhirajlal Kalidas Choksey Shri Ramesh Dhirajlal Choksey Shri Kishan Ratilal Choksey

9. The letter dated 31-10-72 of S/Shri Kantilal Mangaldas Parikh and Ramniklal

Mangaldas Parikh were read and it was resolved to confirm the permission given to

Shri Ramniklal Mangaldas to do business as a Representative Member of Shri

Kantilal Mangaldas Parekh.

10. Resolved to give help of Rs.8000/- to Shri M.C. Mehta Smarak Fund from the

Stock Exchange Education and Research Services Fund.

Further resolved to purchase from M.C. Metha Smarak Fund Debentures of the

face value of Rs.35,000/- of the Tata Iron & Steel Co. Ltd., at the rate of Rs.100/-

per Rs.100/-.

11. Unanimously resolved that the appointment of Seth Phiroze J. Jeejeebhoy as

Chairman of the Exchange should be continued from 1-4-71. Either party can end

the aforesaid arrangement by giving a month’s notice. Seth Phiroze J. Jeejeebhoy

will be paid remuneration of Rs. 4000/- per month as Chairman and the benefits of

Privilege leave, Provident Fund, bonus, gratuity and permanency of employment

will continue as at present. Further, resolved that whatever has been done by Seth

Jeejeebhoy as Chairman from 1-4-71 till date is approved and confirmed.

12. The application dated 11-11-72 of the near relatives of the late Shri Jamnadas

Mulchand Parikh nominating Shri Chinubhai Jamnadas Parikh as a member of the

Exchange in the place of the late Shri Jamnadas Mulchand Parikh was considered

and after interviewing Shri Chinubhai Janadas Parikh and his recommenders S/Shri

Ramesh Jayantilal Patel and Champaklal Jamnadas it was resolved by 14 votes in

favour and none against to elect Shri Chinubhai Jamnadas Parikh as a member of

the Exchange in the place of the late Shri Jamnadas Mulchand Parikh subject to


13. The application dated 11-11-72 of the near relatives of the late Shri Nanalal

Premchand nominating Shri Hasmukh Nanalal Jhaveri as a member of the

Exchange in the place of the late Shri Nanalal Premchand was considered and after

interviewing Shri Hasmukh Nanalal Jhaveri and his recommenders S/Shri A.R.

Jhaveri and Dhirajlal Kalyanji Vora it was resolved by 14 votes in favour and none

against to elect Shri Hasmukh Nanalal Jhaveri as a member of the Exchange in

the place of the late Shri Nanalal Premchand subject to the Rules and Bye-laws of

the Exchange.

14. The application dated 18-8-72 of the near relatives of the late Shri Tribhovandas

Gordhandas Damani nominating Shri Mahendrajumar Himatlal Trivedi as a

member of the Exchange in the place of the late Shri Tribhovandas Gordhandas

Damani was considered and after interviewing Shri Mahendrajumar Himatlal

Trivedi and his recommender Shri P.R. Subramanyam it was resolved by 13 votes

in favour and one against to elect Shri Mahendrajumar Himatlal Trivedi as a

member of the Exchange in the place of the late Shri Tribhovandas Gordhandas

Damani subject to the Rules and Bye-laws of the Exchange.

15. Taking into consideration the unsatisfactory performance and condition relating to

the structural work of our new building as well as long delay in many other

matters it was resolved to discharge the present structural consultants and to

make fresh arrangements regarding the present Architects. The President and the

Chairman should do as they deem proper about both these problems.

16. In connection with the construction of our new building instead of having four

separate firms- two Architects and two Structural Consultants – as at present it

was thought to have only one firm for providing the necessary consultancy

services for each class of the work for completing it quickly overseeing the

construction work. In that connection, after taking into consideration the

negotiations and the correspondence with Tata Consulting Engineers, Dalal

Consultants and Engineers Pvt.Ltd., Gerzi Eastern Pvt.Ltd., Dubon Engineering Co.,

and Kundianwala Associates and discussion in that matter it was resolved that

Gerzi Eastern Pvt.Ltd., should be appointed as Consulting Engineers and Architects

for that work according to the conditions mentioned in their letter dated 28-11-72

and they should be paid remuneration for that at the rate of 3.6% of the cost of

construction subject to the ceiling of Rs.9,75,000/- and also for the Technicians

fee not exceeding Rs.1,75,000/-.

17. The additional report dated 24-11-72 of Sir Shapurji Broacha Brokers Helping fund

Committee dated 24-11-72 was read and it was resolved to approve it.

18. The letter dated 28-10-72 of S/Shri Hasmukh Nanalal Jhaveri, Jasvantlal Nanalal

Jhaveri and Miss Saroj Nanalal Jhaveri was considered and it was resolved to give

permission to Shri Hasmukh Nanalal Jhaveri to continue the business of the late

Shri Nanalal Premchand Jhaveri for three months.

19. The letter dated 18-10-72 of Aluminum Industries Ltd., was read and it was

unanimously resolved to strike off its 1966-72 debentures from our list of

securities quoted on the Exchange as they have been redeemed.

20. The letter dated 13-9-72 of Poona Industrial Hotel Ltd., was considered and it was

resolved that as its equity and preference shares have been sub-divided into

shares of Rs.10/- each dealings in those shares should be made in trading lost of

50 shares each.

21. Unanimously resolved that as the undermentioned companies have not still paid

the Annual Listing fee for the year 1972 though frequently demanded, their shares

should be struck off our list of securities traded on the Exchange from 22-12-72 if

they do not pay the said fee by that date:

1 The Apollo Mills Ltd. 7 Laxmiratan Engineering Works Ltd.

2 Afsons Industrial Corporation Ltd.

8 Shama Forge Co.Ltd.

3 Burhanpur Tapti Mills Ltd. 9 South Behar Sugar Mills Ltd. 4 Glass Lined Equipment Co.Ltd. 10 S.B. Joshi & Co.Ltd. 5 The Hindustan Steel Insurance

Co.Ltd. 11 Tiwac Industries Ltd.

6 Harvey and Salehapattry Co. Ltd. 12 The Universal Fire & General Insurance Co.Ltd.


was resolved that subject to the Listing Rules and Regulations as well as

compliance with the usual requirements and other special requirements stipulated

by us, their securities mentioned against their respective names should be

admitted to our list of Non-cleared securities quoted on the Exchange and dealings

therein should be made in the trading lots mentioned against them:

Laxmichand Bhagaji Ltd. Equity 50 shares Steel Complex Ltd. Equity 50 shares Suri and Nayar Ltd. Equity 50 shares Suri and Nayar Ltd. Preference 5 shares Mangalore Chemicals and Fertilisers Ltd. Equity 50 shares Mangalore Chemicals and Fertilisers Ltd. Preference 5 shares Parekh Engineering and Body Building Ltd.

Equity 50 shares

Parekh Engineering and Body Building Ltd.

Preference 5 shares

23. Taking into consideration the letters dated 14-9-72 and 23-11-72 of Shri R.M.

Bhandari – Joint Secretary Ministry of Finance, Government of India as well as the

letter dated 14-11-72 of Shri N.C. Maitra – Joint Director Stock Exchange Division

and keeping in mind the negotiations with both of them it was resolved that in

pursuance thereof the necessary changes should be made in the Stock Exchange

Rules.


Tuesday, 19-12-72 A meeting of the Governing Board of the Stock Exchange was held to-day at S.T. 3.00 p.m. under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned Members of the Board were present. Shri Laldas Jamnadas Shri B.M. Gandhi Shri Phiroze J. Jeejebhoy Shri Mathradas Samaldas Shri Jayant Amerchand Shri Navinchandra C. Kampani Shri Rasiklal Maneklal Shri Vasantlal Champaklal Shri Jaswantlal Chhotalal Shri Bissesarlal N. Khandelwal Shri Vasantlal Jivatlal Shri Ashok G. Fozdar Shri J.R. Motishaw

Government Nominees Shri S. Rajgopalan




1 Supreme Industries Ltd. Notice No:2127/72 dt. 1-12-72 2 Rajasthan Spg. and Wvg., Mills Ltd. Notice No:2184/72 dt.11-12-72 3 Mukund Iron and Steel Works Ltd. Notice No:2234/72 dt. 18-12-72

2. RESOLVED THAT the notices mentioned against the names of the undermentioned

companies regarding permissibility of delivery of their new shares against their old


1 New India Fertilisers Ltd. Notice No:2148/72 dt.5-12-72 2 Shree Synthetics Ltd. Notice No:2160/72 dt.7-12-72 3 Golden Tobacco Ltd. Notice No:2180/72 dt. 11-12-72


1. Notice No:2092/72 dated 28-11-72 regarding buyers tickets programme.

2. Notice No: 2149/72 dated 5-12-72 regarding settlement of transactions in

shares which are settled by red and black forms 6-A and 7-A.

3. Notice No:2165/72 dated 7-12-72 regarding permission given for dealing

in Letters of Renunciation.

4. Resolved that in the undermentioned Arbitration References between members

and non-members the time for giving the award is extended as mentioned against

the respective Arbitration References:

Sr. No:


Name of the parties The date upto which the time for giving the award extended upto:

1 16 of 71 Harishchandra Gutt & Co., v/s M/s H.P. Mehta & Co.

29-12-72

2 14 of 70 Ishwarlal Manordas Shah v/s Suresh F. Gunderia

30-12-72

3 23 of 67 M/s Hill and Rock v/s M/s J.R. Motishaw & Co.

1-1-73

4 41 of 68 Chandulal Chunilal & Co. v/s Madanlal Poddar

4-1-73

5 24 of 68 M/s Harishchandra Gutt & Co. v/s Bishan Chandra Gupta

4-1-73

6 1 of 72 Mrs. Chandra I. Mirchandani v/s Tikamdas H. Eidnani

6-1-73

7 12 of 71 Durgashanker Udayram Shukla v/s Shantilal Nagindas Mehta

7-1-73

8 2 of 72 G.R. Mansukhani v/s Tikamadas H. Eidnani

7-1-73

9 N61 of 61 Vijaykumar Vishwambharlal Ruiya v/s M/s S.R. Dalmia

7-1-73

10 8 of 68 1. Smt. Shantadevi Basudev 2. Shri Parmeshwar Basudev 3. Miss Sumanlat Basudev 4. Miss Kusumlata Basudev

(minor) Heirs and legal representative

of the late Shri Basudev Narayandas

v/s 1. Bissessarlal Dayal Mittal,

Proprietor of M/s Mukutlal Bissesar Dayal

2. Jaigopal Bansilal Ozha

7-1-73

11 N53 of 63 Kantilal Jivanlal Vakharia v/s Chimanlal Manilal Gheewala

10-1-73

12 10 of 71 A.R. Kotwal v/s M/s B.M.Choksey & Co.

11-1-73

13 35 of 67 Kantilal Amthalal Shah v/s Harichand Maheshwari

13-1-73


17-1-73

15 13 of 71 Jamnadas Mulchand Parikh v/s Bhagwandas Dhanji

17-1-73

16 24 of 67 Madhusudan Narandas Patel v/s M/s J.R. Motishaw & Co.

18-1-73

17 25 of 67 Mrs. Hansa Rasiklal Patel v/s 18-1-73

M/s J.R. Motishaw & Co.

5. Resolved that in the Arbitration References between members and non-members

appointment of Arbitrators should be made as follows:

Ref. No: Name of parties Name of the Party on whose behalf Arbitrators is appointed

Name of the Arbitrator

1 18 of 72 M/s B.M. choksey & Co v/s Express Newspapers Pvt. Ltd.

Express Newspapers Pvt. Ltd.

Jitendra Chamaklal Mashruwalal

2 19 of 72 Kantilal Ranchhodas v/s M/s B.M. Choksey & Co.

M/s B.M. Choksey & Co.

Jitendra Chamaklal Mashruwalal

3 21 of 72 Gaurishankar B. Churiwala v/s D.D. Advani

D.D. Advani Jayantilal Mansukhlal Dalal

4 22 of 72 Gaurishankar B. Churiwala v/s Bhagwandas Durgadas Advani

Bhagwandas Durgadas Advani

Jayantilal Mansukhlal Dalal

5 23 of 72 Gaurishankar B. Churiwala v/s Smt. Putlibai Durgadas

Smt. Putlibai Durgadas

Jayantilal Mansukhlal Dalal

6 24 of 72 M/s G.K. Fozdar v/s Rajendra B. Varnia

Rajendra B. Varnia

Rasiklal Sarabhai Jhaveri

6. Resolved that on Friday 22-12-72 our market should be kept open from 12 to 1.30

pm. for doing business.

7. Resolved that a safe custody account No:12 in the name of the Stock Exchange be

opened with Bank of India and be operated on jointly by the President Shri Laldas

Jamnadas, or the Chairman Shri P.J. Jeejeebhoy or the Vice-President Shri Jayant

Amerchand or the Hon. Treasurer Shri Mathradas Samaldas and by any one of the

following eight members of the Governing Board, namely Shri Gordandas

Bhagwandas, Shri Rasiklal Maneklal, Shri Vasantlal Champaklal, Shri Navinchandra

C. Kampani, Shri Hiralal Girdharlal, shri Vasantlal Kantilal Shah, Shri B.M. Gandhi

and Shri A.R. Mahadevia and be countersigned by the Secretary Shri A.J. Shah.

8. The application for loan dated 19-12-72 of Shri C.N. Sanghvi of our office staff was

considered and it was resolved to give him a loan of Rs.500/-.

9. The application dated 14-12-72 of Shri V.T. Manjrekar of our office staff to give

him assistance for medical treatment expenses due to typhoid was considered and

it was resolved to give him assistance of Rs. 280/- from Shri M.C. Mehta Smarak

Fund.

10. The letter dated 12-12-72 of Bai Maniben Laxmidas, Shri H.L. Shah, Miss Usha L.

Shah and others was considered and it was resolved to approve the permission

given to Shri Harkisondas Laxmidas to continue the business of the late Shri

Laxmidas Lilladher Shah for three months.

11. The correspondence with Shri Chiranjilal S. goenka relating to the complaint of

Shri Jayantilal Gordhandas Shah was read and his clarification in respect thereof

was listened.

12. The letter dated 7-12-72 of the Institute for Financial Management and Research

was considered and it was resolved to give it our co-operation for the course in

Investment Banking and Portfolio Management which they want to arrange in

Bombay jointly with us but should make a suggestion for fixing a fee of Rs.750/-

for the course.

13. The letters dated 7-12-72 of M/s Kasturchand Sarupchand and Shri Jayantilal

Nanalal Jariwala were read and it was resolved to confirm the permission given to

Shri Jayantilal Nanalal Jariwala to do business as a Representative Member of M/s

Kasturchand Sarupchand.

14. The letter dated 5-12-72 of the All India Bank Depositors’ Association was

considered and it was resolved to write to them that as long as it is not decided to

make functioning as Finance broker illegal except of the members of the Stock

Exchange, no useful purpose will be served by making an amendment in the

Securities Contracts (Regulation)Act as suggested by them.

15. Resolved that subject to the approval of the Central Government the following

amendments be and are hereby made in the Rules contained in the Stock

Exchange Rules, Bye-laws and Regulations, 1957:

At the end of Rule 96, the following proviso shall be added, namely:

“Provided that when the present incumbent ceases to hold office as Chairman the

Governing Board shall appoint a Whole time Executive Director, the terms of his

appointment and his removal or dismissal from office shall be subject to the

previous approval of the Central Government. The person appointed as Executive

Director shall not engage himself in any business directly or indirectly during his

tenure of office and if he is a member of the Exchange at the time of appointment

he shall resign his membership forthwith. Subject to the overall management of

the affairs of the Exchange being vested in the Governing Board as provided in

these Rules, Bye-laws and Regulations the Executive Director shall be vested with

the executive powers of the Exchange to run the day-to-day administration and to

enforce the Rules, bye-laws and Regulations of the Exchange and to represent the

Exchange in any public matter and to exercise all other powers, rights, duties and

functions as are vested in the Chairman under the Rules, Bye-laws and

Regulations of the Exchange and as may be entrusted or delegated to him by the

Governing Board from time to time.”

For Rule 154(b) the following shall be substituted, namely:

“Absence of Inability to Act”

(b) In the absence of the Chairman / Executive Director or in the event of his

inability to act his functions and powers shall be exercised by the senior available

officer of the Exchange under the directions of the Governing Board.

16. Resolved that as the General Insurance Company is being nationalized with effect

from 1-1-73 the shares of the General Insurance Company which are listed on the

Exchange should be struck off our list of securities traded on the Exchange with

effect from the aforesaid date.

17. The letter dated 17-11-72 of Camphor and Allied Products Ltd., was read and it

was resolved that as their 9.23% cumulative redeemable preference shares are to

be redeemed from 31-12-72 they should be struck off our list of securities quoted

on the Exchange with effect from that date.

18. The letter dated 12-12-72 of Shama Forge Co.Ltd., was read and it was resolved

that they should be given extension of time upto 2-2-73 for paying the Annual

Listing Fee for the year 1972 and if they fail to pay that fee by that date, their

shares should be struck off the list of securities quoted on our Exchange.

19. Resolved that a sum of Rs.1,00,000/- be given to the Stock Exchange Foundation

which has been approved under section 35(1) (2) of the Income Tax Act.

20. Resolved that a sum of Rs. 1,60,000/- should be given to the Stock Exchange

Foundation from the Stock Exchange Education and Research Services Fund.

21. The appeal of Shri Pankaj Ishwarlal Kapadia against the decision of the Full bench

of the Arbitration Committee in the dispute between S/Shri Pankaj Ishwarlal

Kapadia and Gordhandas Bhagwandas was heard. After understanding what both

the parties had to say, it was resolved to upheld the decision of the Full Bench of

the Arbitration Committee.

22. Resolved that the shares of the Azam Jahi Mills Ltd., and Changdev Sugar Mills

Ltd., Rohidi are in the list of cleared securities should instead be placed in the

Non-Cleared securities.


was unanimously resolved to confirm their admission of their securities mentioned

against their names to our list of securities traded on the Exchange:

The Aluminum Corporation of India Ltd. Bonus equity The Surat Electricity Co.Ltd. 4193 New equity The Khaitan Makanji Spg. & Wvg., Co.Ltd. Bonus equity Supreme Industries Ltd. Bonus equity Bhartiya Electric Steel Co.Ltd. New equity Antifriction Bearing Corporation Ltd. New equity The Western India Plywoods Ltd. New equity Tubes and Malleables Ltd. New equity Jagagit Industries Ltd. Bonus equity The Gaikwad Mills Ltd. Bonus equity



as compliance with the usual requirements and the other special requirements

stipulated by us, their securities mentioned against their respective names should

be admitted to our list of Non-Cleared securities traded on the Exchange and

dealings in those securities should be made in the trading lots mentioned against

them:

Indo-National Ltd. Equity 50 shares Gujarat Automotive Gears Ltd. Equity 50 shares Sakamari Steel and Alloys Ltd. Equity 50 shares Sakamari Steel and Alloys Ltd. Preference 5 shares Bharat Gears Ltd. Equity 50 shares Bharat Gears Ltd. Preference 5 shares Seven Seas Transportation Ltd. Equity 50 shares Seven Seas Transportation Ltd. Preference 5 shares Kothari Sugars and Chemicals Ltd. New Equity 50 shares Industrial Finance Corporation of India Ltd. 53/4% Bonds 50 shares


1

Tuesday, Dt. 20.02.1973

A meeting of the Governing board of the Stock Exchange was held today at S.T. 3.00

P.M. under the Chairmanship of Seth Laldas Jamnadas, wherein the under mentioned


Seth Laldas Jamnadas Seth J. R. Motishaw

Seth Phiroze Jeejeebhoy Seth Vasantlal Kantilal Shah

Seth Jayant Amerchand Seth Babubhai Maganlal Gandhi

Seth Rasiklal Kantilal Seth Mathradas Samaldas

Seth Jasvantlal Chhotalal Seth Navinchandra C. Kampani

Seth Hiralal Girdharlal Seth Vasantlal Champaklal

Seth Gordhandas bhagwandas Seth Bissesarlal Khandelwal

Seth Vasantlal Jivatlal Seth Ashok Girdharilal Fozdar


1. Resolved that the notices regarding Cum-right and Ex-right transactions in the

shares of the under mentioned companies mentioned against there names are

confirmed:

1 Greaves Cotton and Co. Ltd. Notice No. 2247/72 dated 20.12.72

2 Tube Suppliers Ltd. Notice No. 24/73 dated 3.1.73

3 Dharngadhra Chemicals Works Ltd. Notice No. 121/73 dated 23.1.73

4 Zandu Pharmaceutical Works Ltd. Notice No. 160/73 dated 31.1.73

5 Caira Can Co. Ltd. Notice No. 169/73 dated 5.2.73

2. Resolved that the notices giving permissions for dealing in Letters of Renunciation

of the new shares mentioned against the name of the under mentioned

Companies are conformed:

1 Kamani Engineering Corporation Ltd. Notice No. 2245/73 dated 20.12.73

2 Graphite India Ltd. Notice No. 2284/72 dated 28.1.72

3 Supreme Industries Ltd. Notice No. 14/73 dated 2.1.73

4 Andra Pradesh Papers Mills Ltd. Notice No. 5/73 dated 2.1.73

5 Tube Suppliers Ltd. Notice No. 197/73 dated 10.2.73

2

3. Resolved that the under mentioned Notices are confirmed

(1.) Regarding settlement of shares which are settled by red-black focus 6A and

7A Notice no. 2249/72 dated 20.12.72, No. 200/73 dated 3.1.73 No. 93/73

dated 17.1.73 No. 153/73 dated 30.1.73 and No. 222/73 dated 13.2.73

(2.) Notice No. 69/73 dated 11.1.73 regarding transactions in the shares of

Vardhaman Spg. and General Mills Ltd.

(3.) Notice No. 92/73 dated 12.1.73 regarding stopping of business in the

shares of Shree Bhavani Cotton Mills Ltd.

(4.) Regarding special settlement of hand delivery transaction Notice no.

132/73 dated 24.1.73 No. 149/73 dated 29.1.73, No. 176/73 dated 5.2.73,

No. 225/73 dated dated 15.2.73 and No. 248/73 dated 19.2.73

(5.) Notice no. 210/73 dated 10.2.73 regarding change in the buyers Tickets

programme.

4. The application of the under mentioned institutions for giving them help were

considered and it was resolved to give help to each of them from Associations

funds as mentioned below against their respective names:

The Bombay Dumb and Deaf Institution Rs.101/-

The Poona School and Home for the blind Rs.101/-

Society for rehabilitation of the Crippled Children Rs.251/-

Shri Punsari Kelavani Mandal Rs.1001/-

Falode Dharmada Seva Samiti Goshala Rs.501/-

5. The application of the undermentioned institutions were considered and it was

resolved that no assistance can be given to them;

(1.) Mayor’s Fund Committee

(2.) Sabarkantha Education Society

(3.) Shree Kuchchhi oswal Jath

Sujapur Mahajan, Mumbai

6. The application for loans of our sepoys Shantaram Narayan and Tukaram Bhikaji

were considered and it was resolved to give each of them a loan of Rs.1,000/-

7. The application dated 25.1.73 of Shri S. M. Davda of our office of giving him an

assistance of the B.com examination fee of Rs.63/- was considered and it was

3

resolved to give him assistance of Rs.63/- from Seth KRP Shroff Stock Exchange

Sarvajanik Fund.

8. The application dated 2.1.73 of Bai Kamalabai, wife of our late watchman Bhatt

Chhogalal Pareshwar was considered and it was resolved to pay her Rs.5733/25

being the same of the late Shri Chhogalal Pareshwar’s Provident Fund amount

and Gratuity.

9. The applications of Shri V. K. Maloo, mother of the late Shri V. S. Sakaram of our

office to pay her the money due by us to the late Shri V. S. Sakaram and also to

give her help were considered and it was resolved to pay her Rs. 2360/- being

the same of the Provident Fund amount due to the late Shri V. S. Sakaram and

the Gratuity to be paid to him by us and also to give her help of Rs.1000/- from

Seth KRP Shroff Stock Exchange Sarvajanik Fund.

10. Resolved that as Wednesday, 28.2.73 is the day for presenting the Budget of the

Central Government,on that day our market will remain open as usual from 12.00

to 2.00 and in the evening for one hour after the Budget proposals have been

presented.

11. Resolved that Thursday, 22.3.73 should be fixed as the day for election of the


12. The letter dated 18.1.73 of Shri Sohanlal Badriprasad, about authorizing his wife

Smt. Rupandevi Sohanlal Mishra to dispose of his member rights after his demise

instead of his son Shri Umashankar Sohanlal was considered and it was resolved

to tell him to make a will to that effect.

13. The letter dated 14.12.72 of the Bombay Shareholders Association for directing

the Companies to issued refund orders of share application moneys of less then

Rs.1000/-, by “crossed order” cheques instead of “payers A/c” cheques were

considered and it was resolved that it does not appear to be advisable to interfere

in the matter.

14. The application of the near relatives of the late Shri Homi Cursetji Palia

nominating Shri Nitinkumar Manilal Shah as a member of the Exchange in the

place of the late Shri Homi Cursetji Palia was considered and after interviewing

Shri Nitinkumar Manilal Shah and his recommenders S/Shir Champaklal

Jamnadas and V. D. Vakil it was resolved by 14 votes in favour and none against

to elect Shri Nitinkumar Manilal Shah as a member of the Exchange in the place

of the late Shri Homi Cursetji Palia, subject to the Rules and Bye-laws of the

Exchange.

15. The application dated 1.1.73 of the near relatives of the late Shri Hemchand

Amerchand nominating Shri Nemchand Hemchand as a member of the Exchange

4

in the place of the late Shri Hemchand Amerchand was considered and after

interviewing Shri Nemchand Hemchand and his recommender Shri Mohanlal

Sakarchand and it was resolved by 14 votes in favour and none against to elect

Shri Nemchand Hemchand as a member of the Exchange in the place of the late

Shri Hemchand Amerchand, subject to the Rules and Regulations of the

Exchange.

Shri Jasvantlal Chhotalal came and joined the meeting at this point of time.

16. The application dated 28.12.72 of the near relatives of the late Shri Laxmidas

Liladhar Shah nominating Shri Harkishan Laxmidas Shah as a member of the

Exchange in the place of the late Shri Laxmidas Liladhar Shah was considered and

after interviewing Shri Harkishan Liladhar and his recommenders S/Shri Harjivan

Desabhai and R. R. Shah it was resolved by 15 votes in favour and non against to

elect Shri Harkishan Laxmidas Shah as a member of the Exchange, subject to the

Rules and Regulations of the Exchange.

17. The application dated 7.12.72 of Shri Kasturchand Sarupchand nominating Shri

Vidyutkumar Devendrakumar as a member of the Exchange was considered and

after interviewing S/Shi Vidyut Devendrakumar and his recommenders S/Shri

Champak Jamnadas and Kantilal Chhaganlal it was resolved by 14 votes in favour

and one against to elect Shri Vidyut Devendrakumar as a member of the

Exchange, subject to the Rules and Regulations of the Exchange on condition that

he should give an additional membership security deposit of Rs.1,00,000/- for a

period of two years.

18. The additional Report dated 8.1.73 and the Report dated 2.2.73 of Sir Shapurji

Broacha Brokers helping Fund were read and it was resolved to approve the

same.

19. The letter dated 15.2.73 of Padamji Pulp and Paper Mills Ltd. was read and it was

resolved that as the equity shares of the company have been sub-divided into

shares of Rs.10/- each dealing in those shares should now be done in lots of 50

shares each.

20. The letter dated 17.12.72 of Prestolite of India Ltd. for re-admissions of its shares

to our list of securities traded on the Exchange was considered and it was

resolved that, if the company pays the Initial Listing Fee of Rs.1000/- and the

Annual Listing fee of Rs.600/- for the per year 1973, the shares of the company

should be re-admitted to our list of securities traded on the Exchange.

21. The listing applications of the under mentioned companies were considered and it

was unanimously resolved to confirm the approval given for inclusion of their

5

securities mentioned against their respective names in the list of securities traded

on the Exchange.

The Motor and General Finance Ltd. Bonus Equity

The Motor and General Finance Ltd. 10% second preference shares

The New India Industries Ltd. Bonus Equity

Allbright Morarji and Pandit Ltd. Bonus Equity

Silvania and Laxman Ltd. New Equity

Voltas Ltd. New Equity

Unichem Laboratories Ltd. Bonus Equity

Indian Aluminum Co. Ltd. Bonus Equity

The Century Spg. and Mfg. Co. Ltd. Bonus Equity

22. The listing application of the under mentioned companies were considered and it

was unanimously resolved that, subject to the Listing Rules and Regulations as


stipulated by us, their securities mentioned against their names should be placed

in our list of non-cleared securities traded on the Exchange and their trading

should be done in the trading lots specified against them.

Rainbow Steels Ltd. Equity – 50 shares

Rainbow Steel Ltd. Preference – 5 Shares

Hindusthan Breweies and Bottling Ltd. Equity – 50 Shares

Globe Steering Ltd. Equity – 50 Shares

Lakhanpal National Ltd. Equity – 50 Shares

S. I. F. Steels Ltd. Equity – 50 Shares

Excel Glasses Ltd. Equity – 50 Shares

Rathi Alloys Ltd. Equity – 50 Shares

G. K. Hotels Ltd. Equity – 50 Shares

G. K. Hotels Ltd. Preference – 5 Shares

Shivmani Steel Tubes Ltd. Equity – 50 Shares

Shivmani Steel Tubes Ltd. Preference -50 Shares

Bhelai Wires Ltd. Equity – 50 Shares

Western Mine Steel Ltd. Equity – 50 Shares

Regal papers Ltd. Equity – 50 Shares

Regal Papers Ltd. Preference – 5 Shares

6

Haryana Coated Papers Ltd. Equity – 50 Shares

Haryana Coated Papers Ltd. Preference – 5 Shares

East – West Hotels Ltd. Equity – 50 Shares

East – West Hotels Ltd. Preference – 5 Shares

The Oudh Sugar Mills Ltd. 9.5 % Redeemable preference Shares – 5 Shares

23. The letter dated 30.1.73 of Industrial Finance Corporation of India was considered

and it was resolved that from the year 1973, Government Companies established

by special statute should be charge only half of the Annual scheduled fees.

24. Resolved that in supersession of the amendments to the Rules 98 and 154(b)

submitted to the Central Government for approval the following amendment be

and are hereby made subject to the approval of the Central Government in the

Rules contained in the Stock Exchange Rule, Bye-laws and Regulations 1957,

At the end of the Rule 98, the following proviso is added, namely:

“Provided that when the Central Government so desires the Governing Board

shall appoint a whole-time Executive Director and the appointment of such

Executive Director, the terms of his appointment and his removal or dismissal

from office shall be subject to the previous approval of the central Government.

The persons appointed as Executive Director shall not engage himself in any

business directly or indirectly during his tenure of office and if he is a member of

the Exchange at the time of appointment he shall rising his membership

forthwith. The Executive Director shall be an ex-office member of the Governing

Board and of any committee appointed by the Governing Board of the Exchange.

Subject to the over-all management of the affairs of the Stock Exchange being

vested in the Governing board as provided in these Rules, Bye-laws and

Regulations the Executive Director shall be vested with the executive power of

the Exchange to run the day-to-day administration and to enforce the Rules, Bye-

laws and Regulations of the Exchange and to represent the Exchange in any

public matter and to exercise all other power, rights, duties and functions as are

vested in the Chairman under the Rules, Bye-laws and Regulations of the

Exchange and as may be entrusted or delegates to him by the Governing Board

from time to time.”

7

For the Rule 154(b) the following shall substituted, namely

“Absence or Inability to Act

(b) In the absence of the Chairman/Executive Director or in the event of his

inability to act his functions and power shall be exercised by the senior

available officer of the Exchange under the directions of the Governing

Board.”

Sd/- Sd/-

A. J. Shah Laldas Jamnadas

Secretary President

13.03.73

1

Tuesday, 13-3-1973

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00

p.m. under the Chairmanship of Seth Laldas Jamnadas, wherein the under


Seth Laldas Jamnadas Seth J.R. Motishaw

Seth Phiroze Jeejeebhoy Seth Vasantlal K. Shah

Seth Rasiklal Maneklal Seth B.M. Gandhi

Seth Jayant Amerchand Seth Mathradas Samaldas

Seth Hiralal Girdharlal Seth Navinchandra Chhaganlal Kampani

Seth Gordhandas Bhagwandas Seth Vasantlal Champaklal

Seth Vasantlal Jivatlal Seth Biseswarlal N. Khandelwal

Seth Ashok Girdharlal Fozdar

Government Nominee

Shri S. Rajagopalan

The following business was transacted in the meeting: 1 At the start of the meeting, the President mentioned that as Seth Gordhandas

Bhagwandas did not stand for election to the Board this time because of

reasons of age and health, it will be a great loss to the Board. He thanked

Seth Gordhandas Bhagwandas for the valuable services rendered to the

Exchange and for the support and co-operation given by him to the Board

continuously for a period of 27 years as a member of the Governing Board.

He also expressed hope that he will continue to give in future the benefit of

his long experience and valuable advice and guidance.

2 Resolved that the notices mentioned against the names of the

undermentioned companies regarding cum right and ex-right transactions of

their shares should be confirmed:

1. Bajaj Auto Ltd. Notice No:311/73 dated 27-2-73

2. Bajaj Tempo Ltd. Notice No:335/73 dated 27-2-73

3. The Bombay Burmah

Trading Corporation Ltd. Notice No:355/73 dated 2-3-73.

2

3 Resolved that the undermentioned notices should be confirmed:

1. The Notice No:294/73 dated 24-2-73 for not doing business in the shares

of Bharat Live Ltd.

2. The Notice No: 305/73 for resuming business in the shares of Shri Bhavani

Cotton Mills Ltd.

3. The Notice No: 385/73 dated 8-3-73 giving permission for doing business

in Letters of Renunciation of the new equity shares of the Zandu

Pharmaceuticals Works Ltd.

4 The application dated 12-3-73 of S/Shri Rasiklal Sarabhai Jhaveri, Arunbhai

Sarabhai, Sarabhai Jhaveri and Pradip Rasiklal Jhaveri was considered and it

was resolved to approve their partnership under the firm name of M/s S.D.

Jhaveri with effect from 1-4-73.

5. The applications for loans of the undermentioned persons of our office shatff

were considered and it was resolved to give them loans of the amounts

mentioned against their respective names:

Shanker Ratnogi Rs.2000/-

Jayram Bhikaji Rs.700/-

Sahadev Ganpat Rs.1000/-

6 The application dated 9-2-73 of Shri Phiroz Dorab Bilimoria nominating Shri

Bhupendra Champaklal Dalal as a member of the Exchange in his own place

was considered and after interviewing Shri Bhupendra Champaklal Dalal and

his recommenders S/Shri S.B. Sirali and Navalchand T. Shah it was resolved

by 14 votes in favour and none against to elect Shri Bhupendra Champaklal

Dalal as a member of the Exchange in the place of Shri Phiroz Dorab

Bilimoria, subject to the Rules and Regulations of the Exchange.

7 The letters dated 16-10-72 and 5-3-73 of Shri Bhagwat Gupta regarding

withdrawal of his application for membership of the Exchange was considered

and it was resolved to give him permission to withdraw his aforesaid

application.

8 The listing applications of the undermentioned companies were considered

and it was unanimously resolved to approve admission of their securities


3

The Motor and General Finance Ltd. Redeemable Second Pref.

shares

Mukand Iron and Steel Works Ltd. Bonus Equity

Bayer India Ltd. Bonus Equity

The New Sharrock Spg. & Mfg. Co.Ltd. .. 4020 new equity shares

allotted to the shareholders

of M.G. Investment and

Industrial Co. Ltd.

9 The letter dated 14-2-73 of M.G. Investment and Industrial Co. Ltd., was read

and it was unanimously resolved that as it has been merged with the New

Sharock Spinning and Weaving Co. Ltd., its shares should be removed from

our list of securities traded on the Exchange.

10 The letter dated 6-1-73 of Indo American Electricals Limited was read and it

was resolved that as its 9.3% Redeemable Cumulative Preference shares are

to be redeemed on 31-3-73 those shares should be removed from out list of

securities traded on the Exchange with effect from that date.

11 Resolved that a sum of Rs.25000/- should be given to the Stock Exchange

Foundation from the Stock Exchange Education and Research Services Fund.

12 Resolved that contributions of Rs. 3000/- from the Relief Fund and Rs. 2000/-

from Dharmada Fund should be made to the Chief Ministers Fund.

sd/- sd/- A.J Shah Laldas Jamnadas Secretary President

Date: 5-5-73

1

Saturday, 5-5-73

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 2.30 p.m.

in the beginning under the Chairmanship of Seth Laldas Jamnadas and thereafter under the

Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the

Board were present:

Seth Laldas Jamnadas Seth Vasantlal K. Shah

Seth Phiroze Jeejeebhoy Seth Babubhai Maganlal Gandhi

Seth Jayant Amerchand Seth Mathradas Samaldas

Seth Rasiklal Maneklal Seth Navinchandra Chhaganlal Kampani

Seth Jaswantlal Chhotalal Seth Vasantlal Champaklal

Seth Hiralal Girdharlal Seth Biseswarlal N. Khandelwal

Seth Gordhandas Bhagwandas Seth Ashokkumar G. Fozdar

Seth Vasantlal Jivatlal Seth Chhotalal Devchand

Seth J.R. Motishaw

Government Nominee

Shri S. Rajagopalan

Shri M.R. Mayya, Dy.Director Stock Exchange Division was present by invitation.

The following business was transacted in the meeting:

1 Proposed by Seth Rasiklal Maneklal and seconded by Seth Vasantlal Champaklal,

Seth Laldas Jamnadas was elected as a President of to-day’s meeting.

Seth Laldas Jamadas mentioned that in the place of Shri M.N. Deshmukh, Dy.

Director, Stock Exchange Division at Bombay, Shri M.R. Mayya has been appointed.

He welcomed Shri M.R. Mayya and expressed hope that full support and co-operation

will continue to be available from Shri M.R. Mayya too as from his preceding Deputy

Director. He congratulated and welcomed Shri Chhotalal Devchand on behalf of all

the members of the Board for being elected as a member of the Board.

2 Proposed by Seth Laldas Jamnadas and supported by Seth J.R. Motishaw

unanimously resolved to elect Shri Jayant Amerchand as the President.

Seth Laldas Jamnadas while handling over the Chairmanship to Seth Jayant

Amerchand congratulated Shri Jayant Amerchand and wished him success on behalf

of all the members of the Board.

2

Seth Jayant Amerchand thanked all the members of the Board for the trust reposed

in him and took over as Chairman of the meeting. He made mention of the valuable

services rendered by Seth Laldas Jamnadas during his Presidentship and lately for

the efforts made by him inspite of his weak health. He expressed that he will

continue to receive the necessary support and co-operation from everybody

discharging his duties to the Association.

3 Proposed by Shri Rasiklal Maneklal and supported by Shri J.R. Motishaw it was

unanimously resolved to elect Shri Mathradas Samaldas as the Vice-President.

4 Proposed by Seth Jayant Amerchand and supported by Seth Rasiklal Maneklal

unanimously resolved to elect Seth Vasantlal Champaklal as the Hon. Treasurer.

5 Resolved to appoint the “Sir Shapurji Broacha Brokers’ Helping Fund Committee”

consisting of S/Shri J.R. Motishaw, Mathradas Samaldas, Vasantlal Champaklal and

Dhirajlal Maganlal.

6 Resolved that the undermentioned members be appointed as members of the

Arbitration Committee for the year 1973-74:

1 Seth Kekin N. Chenoy 9 Seth Jayendra D. Mehta

2 Seth Jayantilal M. Dalal 10 Seth H.N. Sonawala

3 Seth Champaklal Babubhai Marfatia 11 Seth D.V. Shual

4 Seth M.L. Kaji 12 Seth Hariram Dwarkadas

5 Seth L.N. Kapadia 13 Seth Bhagubhai Amthalal Gandhi

6 Seth S.M. Shah 14 Seth Rasiklal S. Jhaveri

7 Seth Nagindas Trambaklal Parekh 15 Seth Govindbhai G. Desai

8 Seth V.K. Nanavati 16 Seth Jitendra Champaklal Mashruwala

7 Resolved to appoint the Defaulters’ Committee for the year 1973-74 consisting of the

undermentioned members:

1 Seth J.R. Motishaw 4 Seth Kekin N. Chinoy

2 Seth Vasantlal Champaklal 5 Seth Jayayantilal Mansukhlal Dalal

3 Seth Vasantlal Kantilal Shah 6 Seth Rasiklal S. Jhaveri

8 Resolved to appoint a Building Committee consisting of Seth Mathradas Samaldas,

Seth J.R. Motishaw, Seth Rasiklal Maneklal, Seth Laldas Jamnadas, Seth Vasantlal

Kantilal Shah, Seth Jasvantlal Chhotalal and Seth Gordhandas Bhagwandas.

3

9 Resolved that cheques be signed by the President,Shri Jayant Amerchand, or the

Chairman, Shri. P. J. Jeejeebhoy, or the Vice President, Shri Mathradas Samaldas, or

the Hon. Treasurer, Shri Vasantlal Champaklal and by any one of the following seven

members of the Governing Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra

C. Kampani, Shri Shri Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasantlal Kantilal

Shah, Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned by the

Shri A. J. Shah.

10 Resolved that the various Current Accounts and Safe Custody Accounts of the

Exchange with Bank of India be operated on jointly by the President, Shri Jayant

Amerchand or the Chairmen Shri P. J. Jeejeebhoy, or the Vice President, Shri

Mathradas Samaldas, or the Hon. Treasurer, Shri Vasantlal Chhotalal and by any one

of the following seven members of the Governing Board, namely, Shri Rasiklal

Maneklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri B. M. Gandhi,

Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be

countersigned by the Secretary, Shri A. J. Shah.

11 Resolved that the Current Accounts and Safe Custody Accounts with Bank of India in

the name of the Stock Exchange Staff Provident Fund and the Stock Exchange Staff

Gratuity Fund be operated on either by any two of the Trustees of the Exchange for

the time being or the survivors or survivor of them or jointly by the Hon. Treasurer,

Shri Vasantlal Chanpaklal and by any one of the following seven members of the

Governing Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani, Shri

Hiralal Girdharlal, Shri B. M. Gandhi, Shri Vasant Kantilal Shah, Shri Jasvant Chhotalal

and Shri A. R. Mahadevia and be countersigned by the Secretary, Shri A. J. Shah.

12 Resolved that the Chairmen Shri P. J. Jeejeebhoy, the Secretary Shri A. J. Shah and

the follwing Officers of the Exchange namely, Shri S. N. Karaka, Shri M. D. Vyas and

Shri Nariman N. Dubash be and they are hereby authorized jointly and/ or severally to

institute and prosecute any legal proceeding in any Court of Law having Jurisdiction

relating and/ or pertaining to any of the properties belonging to The Stock Exchange,

Bombay ( hereinafter refered to as ‘ the Exchange’) and/ or any activities of the

Exchange in any manner whatsoever against any person or persons of group of

persons and / or and Union and/ or Association and /or its office-bearers and/ or

representative and / or employee and / or servant and/ or agents (hereinafter referred

to as “the said third party”) inter alia to prevent.

4

(a.) Any trespass in or upon any of the properties belonging to the Exchange

by the said third party for nay purpose whatsoever;

(b.) Any crowding collecting and / or assembling in any meeting at or within or

around any of the properties belonging to the Exchange;

(c.) Any demonstration, picketing, nuisance, harassment, threats,

intimidation, violence and/or injury by the said third party at or within or

around any of the properties belonging to the Exchange;

(d.) Any shouting of slogans and/or abuses adversely affecting the business

and reputation of the Exchange and / or of any office bearers, officers,

employees, or members of the Exchange;

(e.) Any display or putting up of nay boards, notices, placards, pamphlets,

photographs, banners, writing and or any articles at or within or around

any of the properties of the Exchange; and /or

(f.) Any obstruction, interference and / or hindrance to the working of the

Exchange and the business of its members in any manner whatsoever;

and for the said purposes to engage Solicitors, Lawyers, Counsel and / or legal

practitioners and to sign warrants of authority and / or Vakalatnama in favour of any

such Solicitors, Lawyers, Counsel or legal practitioners and also to sign, affirm and / or

declare any plaint, affidavit, application, writing, statement, complaint and / or appeal

for and on behalf of the Exchange and to compromise, settle and / or refer to

arbitration and such dispute and / or legal proceedings in the manner deemed fit and

proper jointly and / or severally by the said Shri. P. J. Jeejeebhoy, Shri A. J. Shah, Shri

S. N. Karaka, Shri M. D. Vyas and Shri Nariman N. Dubash.

13 Resolved to confirm the notices regarding cum right and ex-right transactions of the

shares of the undermentioned companies:

i. The East India Hotels Ltd. … Notice No:415/73 dated 14-3-73.

ii. Associated Stone Industries (Kota) Ltd. … Notice No:499/73 dated 17-3-73

iii. The West Coast Paper Mills Ltd. … Notice No:688/73 dated 23-4-73

iv. Motor Industries Co.Ltd. … Notice No: 773/73 dated 4-5-73.

14 Resolved that the undermentioned Notices be confirmed:

1 Notice No:436/73 dated 20-3-73 relating to grant of permission to do

5

business in the coupons of bonus shares of Bajaj Auto Ltd.

2 Notice No:675/73 dated 23-4-73 regarding transactions in Re. 1/- paid

up shares of Bharat Live Ltd.

3 Notice No:753/73 dated 2-5-73 relating to grant of permission for doing

business in the Letters of Renunciation of the new equity shares of the

East India Hotels Ltd.

4 Notice No:758/73 dated 2-5-73 regarding continuation of cum dividend

transactions in the shares of Premier Construction Co. Ltd.

5 Notice No:490/73 dated 26-3-73 regarding eligibility of new equity

shares of the Bombay Electric Supply Co.Ltd., against its old equity

shares.

6 Notice No:552/73 dated 2-4-73 regarding eligibility of new equity shares

of Swadeshi Polytex Ltd., against its old equity shares.

15 Governments letter dated 25-4-73 about withdrawal of the nomination of Shri M.N.

Deshmukh, former Dy.Director of the Stock Exchange Division on the Governind

Board of the Exchange as he has been transferred was read and noted.

16 Resolved that recommendation should be made to the General Body to appoint Shri

Jayant Amerchand as a Trustee of the Exchange in the vacancy caused by the

demise of Seth K.R.P. Shroff.

17 The letter dated 11-4-73 of S/Shri Nandkishore Ramchandra Agarwal and Brijmohan

Agarwal were read and it was resolved to confirm the permission given to Shri

Brijmohan Sagarmal to do business as a Representative Member of Shri Nandkishore

Ramchandra Agarwal.

18 The letter dated 5-4-1973 of S/Shri Kaikhushru Merwanji Kheshwala, Manek

Hormasji Byramji ad Vinayak Bhikaji Desai was read and it was noted that Shri

Vinayak Bhikaji had separated from the partnership firm of M/s Lewis & Jones with

effect from 1-4-73.

19 The applications for the undermentioned partnerships were considered and

approved:

6

Name of the Partnership firm Name of Partners

Date of Partnership

M/s Kothari & Co. Shri Laxmidas Thakersey Kothari

Shri Kaushik Laxmidas Kothari

13-4-73

M/s Champaklal Jamnadas &

Co.

Shri Champaklal Jamnadas Shah

Shri Subodh Champaklal Shah

Shri Ashok Champaklal Shahh

5-5-73

20 The Board approved the arrangements made by Gerzi Eastern Ltd., with M/s Hadkar,

Prabhu and Associates for the structural work of our new building and also in

connection with the acceptance of the tender of Shapurji Palonji & Co., for

construction of the basement out of the tender received from Engineering

Construction Corporation Ltd., New Consolidated Construction Co. Ltd., and Shapurji

Palonji and Co. Pvt. Ltd., which were compared and evaluated by Gerzi Eastern Ltd.,

respectively at approximately Rs. 33,37,844/-, Rs. 28,21,159/- and Rs.32,48,592/-.

21 In the matter of appeal of M/s R.R. Nabar & Co., against the decision of the Full

Bench of the Arbitration Committee in the dispute between M/s Jadowji Virji Desai

and M/s R.R. Nabar & Co., regarding the 5 United Carbon shares, the letter dated

22-2-73 of M/s Jadowji Virji Desai about the dispute having been settled and the

letter dated 26-2-73 of M/s R.R. Nabar & Co., withdrawing their appeal were read

and noted.

22 The applications for loans of the undermentioned members of our office staff were

considered and it was resolved to give them loans as under:

Shri G.N. Kamdar Rs.1700/-

Sepoy Pandurang Gopal Rs.1000/-

Sepoy Madhukar Bhiwa Rs. 300/-

Liftman Tukaram Laxman Rs. 500/-

Waterman Mithalal Bhuralal Rs.1500/-

Sweeper Bhagwan Tilu Rs. 500/-

Sweeper Hariharan Nibaram Rs. 200/-

23 The listing applications of the undermentioned companies were considered and it was

unanimously resolved to confirm their belowmentioned securities having been placed

in our list of securities traded on the Exchange:

7

Maharashtra Sugar Mills Ltd. Bonus Equity

Caira Can Co. Ltd. Bonus Equity

Shri Bhawani Cotton Mills Ltd Bonus Equity

24 The listing applications of the undermentioned companies were considered and it was

unanimously resolved that subject to the Listing Rules and Regulations and

compliance with the usual requirements as well as other special requirements

stipulated by us, their below mentioned securities should be placed in our list of

securities traded on the Exchange and their trading lots should be fixed as shown

against them:

Ashok Paper Mills Ltd. Equity 200 shares

Ashok Paper Mills Ltd. Preference 5 shares

Usha Alloys and Steel Ltd. Equity 50 shares

Usha Alloys and Steel Ltd. Preference 5 shares

Saurashtra Steel and Alloys Ltd. Equity 50 shares

Mohta Alloys and Steel Ltd. Equity 50 shares

Mohta Alloys and Steel Ltd. Preference 5 shares

Piramal Steel Ltd. Equity 50 shares

Piramal Steel Ltd. Preference 5 shares

Haryana Electro Steel Ltd. Equity 50 shares

Indolowen Breweries Ltd Equity 50 shares

Industrial Credit and Investment

Corporation of India Ltd.

6% Debentures 1985 Rs.

5000/-.

Silvania and Laxman Ltd. New Equity 50 shares

Silvania and Laxman Ltd. 9.5% Redeemable Preference

Shares.

Preference 5 shares

The Phalton Sugar Works Ltd. 6 ½ % Redeemable preference

shares.-5 shares.

sd/- sd/-

A.J Shah Jayant Amerchand

Secretary President

Date: 24-7-73

1

Tuesday, 24-7-1973

A meeting of the Governing Board of the Stock Exchange was held today at ST.

3.00 pm. Under the Chairmanship of the Seth Jayant Amerchand, wherein

undermentioned members of the Board ware present:

Seth Jayant Amerchand Seth Seth Vasantlal Jivatlal

Seth Phiroze J. Jeejeebhoy Seth J. R. Motishaw

Seth Mathradas Samaldas Seth A. R. Mahadevia

Seth Laldas Jamnadas Seth B. M. Gandhi

Seth Rasiklal Menklal Seth Vasantlal Champaklal

Seth Jasvantlal Chhotalal Seth B. N. Khandelawal

Seth Hiralal Girdharlal Seth Ashokkumar G. Fozdar

Seth Chhotalal Devchand

Government nominees

Shri S. Rajgopalan

Shri M. R. Mayya, Dy Director, Stock Exchange Division was present by

invitation.


1. Resolved that the notices mentioned below against the names of the related

companies regarding cum-right and ex-right transactions in their shares are

confirmed:

1 The Indian Cement Co. (1937) Ltd.

Notice No. 820/73 Dt. 10-5-73

2 Larsen & Toubro Ltd. Notice No. 845/73 dt. 14-5-73

3 Polysteel (India) Ltd. Notice No. 846/73 Dt. 14-5-73

4 Tensile Steel Ltd. Notice no. 860/73 Dt. 15-5-73

5 United Carbon Ltd. Notice No. 950/73 Dt. 25-5-73

6 The Morarji Gokuldas Spg.and Wvg. Co. Ltd.

Notice no. 1000/73 Dt. 5-6-73

7 The Khatau Makanji Spg. And Wng. Co. Ltd.

Notice No. 1053/73 Dt. 5-6-73

8 Shakti Sugars Ltd. Notice No. 1081/73 Dt. 9-6-73

2

9 The Hindushtan Sugars Mill Ltd. Notice No. 1081/73 Dt. 9-6-73

10 Special Steel Ltd. Notice No. 1093/73 Dt. 13-6-73

11 Polychem Ltd. Notice No. 1108/73 Dt. 15-6-73

12 The Scindia Steam Navigation Co. Ltd.

Notice No. 1121/73 Dt. 19-6-73

13 Ceat Tyres India Ltd. Notice No. 1173/73 Dt. 26-6-73

14 Modi Industries Ltd. Notice no. 1186/73 Dt. 28-6-73

15 West Coust Paper Mills Ltd. Notice No. 1200/73 Dt. 29-6-73

16 Andhra Steel Corporation Ltd. Notice no. 1350/73 Dt. 18-7-73

17 Motor Industries Co. Ltd. Notice no. 1351/73 Dt. 20-7-73

2. Resolved that the notices mentioned below against the names of the

respective companies regarding eligibility of their new shares for delivery

against their old shares are conformed

1 Behar Alloy Steel Ltd. Notice no. 989/73 Dt. 25-5-73

2 The Travancore Electric Chemical Industries ltd.

Notice no. 1029/73 Dt. 1-6-73

3 The Gaikwar Mills Ltd. Notice No. 1030/73 Dt. 1-6-73

4 The Dinesh Mills Ltd Notice No. 1031/73 Dt. 1-6-73

5 The Anti Friction Bearings Corporation Ltd.

Notice No. 1050/73 Dt. 5-6-73

6 Graphik Industries Ltd. Notice No. 1183/73 Dt. 28-6-73

7 Andhra Steel Corporation Ltd. Notice No. 1214/73 Dt. 2-7-73

8 Motors Industries Co. Ltd. Notice No. 1342/73 Dt. 18-7-73

3. Resolved to confirm the under mentioned Notices

(1.) Notice No. 882/73 dated 18-5-73 regarding transactions in the shares

of Indian Copper Corporation Ltd.

(2.) Notice No. 997/73 regarding permission to do business in the Letters

of Renunciation of new equity shares of Tata Chemicals Ltd.

(3.) Notice No. 1118/73 dated 16-7-73 about disallowing transactions in

the shares of Modi Industries Ltd. and Notice No. 1313/73 dated 16-7-

73 allowing resumption of dealings in those Shares

(4.) Notice No. 1122/73 allowing the dealings in the Letters of

Renunciation of the new equity shares of Indian Cement Co. (1937)

Ltd.

3

(5.) Notice No. 1138/73 permitting dealings in the company of bonus

Equity Shares of Tensile Steel Ltd.

(6.) Notice No. 1178/73 allowing resumption of dealing in the shares of

Asiatic Oxygen Ltd.

(7.) Notice no. 1248/73 dated 5-7-73 allowing permission to dealing in the

bonus Equity Shares of Morarji Gokuldas Spg. Wvg. Co. Ltd.

4. The application for help of the under mentioned organizations were

considered and it was resolved to give donation to them as under

mentioned against their names from the Association Fund;

Mumbai Upnagar Gramodyay Sangh Rs.100/-

Indian Red-Cross Society Rs.101/-

The Mancherji Navroji Banaji Industrial Home for the Blind Rs.100/-

5. The Application dated 17-7-73 Of Shri M. D. Vyas of our officer giving him

assistance of Rs.224/- for the College fees of the 3rd year of LLB and Rs,.

78/- for the examination fee as well as the application dated 17-7-73 of Shri

S. M. Davde for the college fee of the first term of first LLB were considered

and it was resolved to give them assistance accordingly from Shri M. C.

Mehta Smarak Fund.

6. The applications for loan of the undermentioned members of our office staff

were considered and it was resolved to give each of them a loan as

mentioned against their respective names

Shri M. D. Vyas Rs. 2500/-

Shri Nariman N. Dubash Rs. 700/-

Shri V. K. Suvarna Rs. 2000/-

Shri Laxman Tukaram Rs. 1000/-

Shri Dattaram Govind Rs. 1000/-

Shri Narendra Bhikaji Rs. 300/-

Shri Balkishan Shinde Rs.500/-

Hamal Dhondu Shripat Rs.500/-

Sweeper Khachera Devran Rs.1000/-

4

7. The application dated 25-6-73 of our former employee Shri V. Mohan was

read and it was resolved to pay up to him the amount accumulated in his

Provident Fund Account

8. The application dated 17-7-73 of Shri M. D. Vyas son of our late pensioner

Shri Devdas K. Vyas for getting assistance for the expenses incurred for the

medical treatment of the deceased during his sickness was considered and it

was resolved to give him assistance of Rs.500/- in that respect from Seth

KRP Shroff Stock Exchange Sarvajanik Fund.

9. The letter received from the undermentioned members were read and it was

resolved to confirmed the permissions given to them to do business as

Representative Members as shown below:

Nominating Members Representative Members

Shri Hasmikh Nanlal Jhaveri Shri Dhirajlal Kalyanji Vora

M/s. Sumatilal Jamnalal Shri Virendra Prabhudas

10. The letter dated 4-5-73 of S/Shri J. P. Gandhi and Bupendra Champaklal

Dalal were read and it was resolved and confirmed the permission given to

Shri J. P. Gandhi to do business in the market in the name of the firm of

M/s. Champaklal Devidas

11. The letter dated 2-6-73 S/Shri Jayendra Dhansukhlal Mehta and Harendra

Dhansukhlal Mehta was read and it was noted that partnership between the

two had been dissolved from 30-4-73 and from that date Shri Jayendra

Dhansukhlal Mehta had been doing business as the sole proprietor of the

firm of M/s. Mehta Vakil & Co.

12. The letter dated 25-6-73 of S/Shri Dhirajlal Kalyanji Vora, Dhansukhlal

Kantilal, Manoharlal Bhikhubhai Kothari, Harkishandas Kalyanji Vora and

Gunvantlal Bhikhabhai Kothari was read and it was noted that S/Shri

Dhirajlal Kalyanji Vora and Harkisandas Kalyanji Vora had separated from

the partnership firm of M/s. Manmohandas Nemidas with effect from 26-6-

73.

13. The application for partnership of S/shri Vallabhdas Chimanlal Mehta and

Chandrakant Vallabhdas Mehta dated dated 1-4-73 was considered and it

was resolved to approve their partnership under the name of M/s. V. C.

Mehta with effect from 1-4-73

5

14. The letter dated 20-6-73 of Bai Naramadabai and S/shi P. M. Rungta and K.

M. Rungta was read and it was resolved to give permission to Shri

Purshottamlal M. Rungta to continues the business of the late Shri Mahavir

Prasad for a period of three months.

15. The letter dated 29-6-73 of Shri Kishandas Trikamdas Shroff nominating

Shri Radheshyam Chiranjilal Goenka as the member of the Exchange in his

own place was considered and after interviewing Shri Radheshyam

Chiranjilal Goenka and his recommenders S/Shri Dhirajlal Girdharilal and N.

C. Lodhiwala it was resolved by 14 votes in favour and none against to elect

Shri Radheshyam Chiranjilal Goenka as a member of the Exchange in the

place of Shri Kishandas Trikamdas Shroff, subject to the Rules and

Regulations of the Exchange, on condition that he should not do business in

the market in his own name until 7-9-73

16. The application dated 28-6-73 of Shri Jivandas Virji nominating Shri

Nalinkant Vrajlal Shah as a member of the Exchange in his own place was

considered and after interviewing Shri Nalinkant Vrajlal Shah and his

recommenders S/Shri Vrajlal Virji and Prabhudas Lialdhar it was resolved by

14 vote in favour and none againstto elect Shri Nalinkant Vrajlal Shah as a

member of the Exchange in the place of Shri Jivandas Virji, subject ot the


17. The letter dated 15-6-73 of the New Bank of India for becoming a member

of our Clearing House was considered and it was resolved that it should be

admitted as a member of New Clearing House, Subject to our Rules and

Regulations.

18. The Listing application of the undermentioned companies were considered

and it was unanimously resolved to confirm the approval given for placing

their respective Securities shown against their names in our list of securities

traded on the Exchange.:

Bajaj Auto Ltd. Bonus Equity

Greaves Cotton & Co. Ltd. Bonus Equity

Graphite India Ltd. New Equity

The Bombay Burma Trading Corporation Ltd. Bonus Equity

Supreme Industries Ltd. New Equity

Rajsthan Spg. & Wing. Mills Ltd. Bonus Equity

6

Associated Stine Industries Ltd. Bonus Equity

Tube Suppliers Ltd. New Equity

The Andhra Pradesh Paper Mills Ltd. New Equity

Tensile Steel Ltd. Bonus Equity

19. The listing application of the under mentioned companies were considered

and it was unanimously resolved that, subject to the Listing Rules and

Regulations as well as compliance with the usual requirements and the

other special requirements stipulated by us, their below mentioned

securities should be place in our list of Non-cleared Securities traded on the

Exchange and their trading lots should be fixed as shown below against

their respective names:

Omega locks and Typewriters Ltd. Equity – 50 Shares

Western India Glass Ltd. Equity – 50Shares

Suraj Alloys Steels Ltd. Equity – 50 Shares

Blow Plast Ltd. Equity – 50 Shares

Blow Plast Ltd. Preference – 5 Shares

Punjab Breweries Ltd. Equity – 50 Shares

Punjab Breweries Ltd. Preference – 5 Shares

Galada Continuons Casting Ltd. Equity – 50 Shares

Galada Continuons Casting Ltd. Preference – 5 Shares (of 1923)

Maharashtra Steel Ltd. Equity – 50 Shares

Maharashtra Steel Ltd Preference – 5 Shares

Triveni Steel & Works Ltd. Equity – 50 Shares

Superior Air Product Ltd. Equity – 50 Shares

Shree Ram Fiber Ltd. Equity – 50 Shares

Shree Ram Fiber Ltd. Pref. – 50 Shares

Vijay Wada Bottling Co Ltd. Equity – 50 Shares

Northern India Gas Co. Ltd. Equity – 50 Shares

Trimurti Agrechemicals Ltd. Equity – 50 Shares

Rathi Udyog Ltd. Equity – 50 Shares

Merch Mirek Ltd. Equity – 50 Shares

Merch Mirek Ltd. Preference – 5 Shares

7

Mina Steel Ltd. Equity – 50 Shares

Universal Wires Ltd. Equity – 50 Shares

Universal Wires Ltd. Preference – 5 Shares

C. Prabhudas & Co. Ltd. Equity – 50 Shares

Wilcart Steel Equity – Shares

Mohan Steel Ltd. Equity – 50 Shares

Vidarbha Iron and Steel Corporation Ltd.

Equity – 50 Shares

Industrial Finance Corporation of India 5¾ % Bonds 1985

Madhya Pradesh Electricity Board 6 % Bonds 1984 second series

The Triveni Engineering Works Ltd. 9.5% Preference 50 Shares

The Sirpur Paper Mills Ltd. 7¾ % Rs.1000/- first mortgage debentures

Straw Products Ltd. 9.5 % Pref. Shares – 5 Shares

Ashok Paper Mills Ltd. New Equity – 200 Shares

The Tata Mills Ltd 8 % Debentures Rs.1000/-

20. As regards the listing application of Harida Rotary Machines Ltd. it was

resolved that the time for approval of its application for placing is shares in

the list of securities traded on the Exchange should be extended up to seven

weeks from the date of closing of its subscription list and subject to the

conditions as may be decided by the Chairmen and decision in the matter

should be taken after the company gives its clarification required in our

letter of the 23-7-73

21. As Indian Copper Corporation Ltd. has gone into voluntary liquation, it was

resolved to review its units from our list of securities traded on the

Exchange.

22. As Gujarat Polyamides has merged with the Baroda Rayon Corporation Ltd.

it was unanimously resolved to remove the shares of Gujarat Polyamides


23. Unanimously Resolved that as the under mentioned securities have been

redeemed, they should be removed from our list of securities traded in the

Exchange.

Bombay Suburban Electric Supply Ltd. ‘B’ Class Convertible Debenture

The Amalgamated Electric City Co. Ltd. 10 % Preference Shares

8

Jayshree T. and Industries Ltd. ‘B’ Preference Shares

24. The letter dated 2-7-73 of the Indore Malwa United Mills Ltd. was

considered and it was unanimously resolved to write to it again in the

matter and if even then the company does not pay the Annual Listing fee for

the current year, the shares of the company should be removed from out

list of securities traded on the Exchange from such date as may be decided

by the Chairman.

25. The letter dated 1-2-73 and 15-6-73 of Orissa Cement Ltd. for, transferring

their shares from the Cleared Securities List to the Non–Cleared Securities

List were considered and it was unanimously resolved that we should write

to the company in the matter and if it is felt necessary the shares of the

company should be placed in the Non-Cleared Securities List from such date

as may be fixed and decided by the Chairman.

26. The letter dated 3-5-73 of Reveen & Co. was considered and it was resolved

to approve and pay them bills for 18,000 binders of the Stock Exchange

Directory at Rs.7/25 per binder and at Rs.2/75 for the 18,000 plastic

covers.

Further, it was resolved that their offer to supply binders with plastic covers

at Rs.11/50 per pieces hereafter should be accepted.

27. Unanimously resolved that as the undermentioned Companies have not yet

paid the Annual Listing Fee for year 1973 though repeatedly demanded,

their securities should be removed from our list of securities traded on the

Exchange if they do not pay the said fee before 25-8-73:

Ajanta Textiles Ltd.

Afsons Industrial Corporation Ltd.

Anil Hard boards Ltd.

Balkrishna Paper Mills Ltd.

Electrical Instruments Mfg. Co. Ltd.

Gujarat Investment Trust Ltd.

Hindustan Firodo Ltd.

Hindustan Wired Glass Mfg. Co. Ltd.

Indo-Swedish Pipe Manufacturers Ltd.

Jyoti Ltd.

Laxmiratan Engineering Works Ltd.

9

Laxmiratan Bhagaji Ltd.

Mohta and Heckel Ltd.

Raman and Denon Ltd.

Shanea Euguire Valves Ltd.

S. B. Joshi & Co. Ltd.

Thakar Shipping Co. Ltd.

Uttar Pradesh Steels Ltd.

Sd/- Sd/- A.J. Shah Jayent Amerchand Secretary President

Date: 4-9-73

1

Tuesday, 4-9-73


p.m. under the Chairmanship of Seth Jayant Amerchand, wherein the

undermentioned members of the Board were present:

Seth Jayant Amerchand Seth J.R. Motishaw

Seth Phiroze Jeejeebhoy Seth A.R. Mahadevia

Seth Mathradas Samaldas Seth Vasantlal Kantilal

Seth Laldas Jamnadas Seth Babubhai Maganlal Gandhi

Seth Jaswantlal Chhotalal Seth Ashokkumar G. Fozdar


Seth Vasantlal Jivatlal Seth B. N. Khandelwal


Government Nominee

Shri S. Rajagopalan

Shri M.R. Mayya


1 The letter dated 8-8-73 of Government regarding appointment of Shri M.R.

Mayya, present Dy. Director, Stock Exchange Division as a Government

Nominee on our Board in the place of Shri M.N. Deshmukh was read and

taken note of.

The President welcomed Shri M.R.Mayya and expressed hope that the Board

will continue to receive full support and co-operation from him as from his

predecessors.

In reply, Shri M.R. Mayya thanked and assured of his full support and co-

operation.

2 After considering the listing application of Hand Rotary Machines Ltd., and the

correspondence in that connection, it was resolved that, as the Company had

not yet furnished full information sought from it, it should be asked to send

additional information as decided during the discussion, latest by February, 7-

2

9-73 and considering the abovementioned listing application should be made

in the Board meeting to be held on Saturday, 8-9-73.

3 The application dated 26-7-73 of Shri Ratilal Balubhai nominating Shri

Vinitkumar P. Parekh as a member of the Exchange in his own place was

considered and after interviewing Shri Vinitkumar P. Parekh and his

recommenders S/Shri Jesinglal Savjibhai and Shantichand N. Jhaveri it was

resolved by 13 votes in favour and one against to elect Shri Vinitkumar

P.Parekh as a member of the Exchange in the place of Shri Ratilal Balabhai of

the Exchange subject to the Rules and Regulations of the Exchange on

condition that he will not do business in the market in his own name upto 13-

1-75.

4 Resolved that the notices mentioned against the names of the

undermentioned companies regarding cum right and ex-right transactions in


1. Paper and Pulp Conversions Ltd. … Notice No:1373 dated 23-7-73.

2. Modi Industries Ltd. … Notice No: 1382/73 dated 23-7-

73.

3. National Machinery Manufactures Ltd. .. Notice No:1410 dated 27-7-73.

4. Ugar Sugar Works Ltd. … Notice No:1411/73 dated 27-3-73

5. Hindustan Wires Ltd. … Notice No:1429/73 dated 31-8-73

6. Bharat Steel Tubes Ltd. … Notice No:1484/73 dated 6-8-73

7. Indian Vegetable Products Ltd. … Notice No:1502/73 dated 8-8-73

8. The Industrial Credit & Investment

Corporation of India Ltd. … Notice No: 1679/73 dated 1-9-73.

5 Resolved that the Notices mentioned against the names of the respective

undermentioned companies regarding grant of permission for dealing in

letters of renunciation of their new shares be confirmed:

1. West Coast Paper Mills Ltd. … Notice No:1476/73 dated 6-8-73

2. Motor Industries Co.Ltd. … Notice No: 1571/73 dated 20-8-73

3. Andhra Steel Corporation Ltd. … Notice No:1586/73 dated 21-8-73

4. Modi Industries Ltd. … Notice No:1677/73 dated 30-8-73

6 Resolved that the undermentioned Notices be confirmed:

1. Notice No:1504/73 dated 8-8-73 regarding the Association Holiday of

the Coconut day.

3

2. Notice No: 1543/73 dated 1-9-73 regarding the Association Holidays of

the Samvatsari.

3. Notice No: 1548/73 regarding the Association Holiday of Gokulshtami.

7 The application for help of the Rashtriya Neta Smarak Committee was read

and it was resolved that their request cannot be accepted.

8 The application for loans of the undermentioned persons of our office staff

were considered and it was resolved to give them loans as under:

Shri H.A. Patni Rs.2300/-

Shri Vilas Gyandev Rs. 1000/-

9 Resolved that a donation of Rs. 5000/- be given to the Shri K.R.P. Shroff

Stock Exchange Sarvajanik Fund from the Stock Exchange Education and

Research Services Fund.

10 The Report dated 10-8-73 of Shri Shapurji Broacha Brokers’ Helping

Committee regarding giving of assistance from the Seth K.R.P. Shroff Stock

Exchange Sarvajanik Fund was read and it was resolved to approve that

Report.

11 The letter dated 1-9-73 of Smt. Gulaben Devidas Vyas w/o our late pensioner

Shri Devidas Madhavji Vyas was considered and it was resolved to give her

assistance of Rs. 75/- p.m. for two years from the Association Fund.

12 Resolved that from 1-1-1973 our Secretary Shri A.J. Shah should be paid a

remuneration of Rs.2875/- p.m. in the grade of Rs. 2500-125-3000/-. Shri

Nair should be paid Rs.2300/- p.m. in the grade of Rs.2000-100-2500/- and

in the officers grade of Rs.750-50-1250. Shri J.M. Lalka paid Rs. 1100/- p.m.

Shri S.N.Karaka should be paid Rs.1000/- p.m. Shri K.V.B. Shankar Rao

should be paid Rs.950/- p.m. Shri Nariman Dubash should be paid Rs.850/-

p.m. and Shri M.D.Vyas should be paid Rs.850/- p.m.

13 Resolved that pursuant to the arrangements arrived at salaries, grades,

dearness allowance etc., of clerks, sepoys and other officers of our office staff

etc., should be revised and made effective from 1-1-1973 as under:

Accountant and ‘A’ grade clerk Rs.200-15-260-20-400-25-600

‘B’ grade clerk Rs.90-8-130-10-180-12-240-15-300

‘C’ grade clerk } Rs. 70-6-100-8-140-10-200

Dispatch / MultilatchXerox etc. }

Sepoy/watchman/liftman Rs.40-4-80-5-120-6-150

Bhatt/Hamal /Sweeper Rs.36-3-60-4-100-5-125

4

Those whose present salary does not exactly fit in their grade should be

placed in the immediate upper step of their grades to make their salary fit

exactly on 1-1-73.

Dearness Allowance

Accountant ‘A’ grade clerk and

‘B’ grade clerk Rs. 360/- p.m.

‘C’ grade clerk Rs. 315/- p.m.

All other subordinate staff Rs. 220/- p.m.

From 1-7-74 for every 6 months for rise or fall of every 10 points in the

Bombay Working Class Index during the previous six months the dearness

allowance shall be increased or decreased by Rs.2.50p.

The retirement age will be 60 years. Gratuity will be paid at the rate of 1

months salary including Dearness Allowance for every years service subject to

a maximum of 25 months and the Rules of the Gratuity Act.

14 The letter dated 4-8-73 of Shri Krishnavadan Chhotalal Dalal and others was

considered and it was resolved to give permission to S/Shri Krishnavadan

Chhotalal Dalal and Ranjitlal Chhotalal Dalal to continue the business of M/s

C.V.Dalal & Co., for a period of three months.

15 The letter dated 17-8-73 of Bai Narbadevi and S/Shri P.M. Rungta and K.M.

Rungta was considered and it was resolved to give permission to Shri

Purshottam M. Rungta to continue the business of Shri Mahavir Badridas

Rungta for a further period of two months.

16 The letters of Anil Hard Boards Ltd., and S.B. Joshi & Co., were read and it

was unanimously resolved to re-admit their shares to our list of securities

traded on the Exchange as they have paid the Annual Listing Fee for the year

1973.


and it was unanimously resolved to confirm admission of their

undermentioned securities to our list of securities traded on the Exchange:

Zandu Pharmaceuticals Works Ltd. …New Equity

Universal Dyestuff Industries Ltd. …New Equity

The Parshuram Pottery Works Ltd. …Bonus Equity

Vickers Sperry of India Ltd. …New Equity

Bajaj Tempo Ltd. …Bonus Equity

Larsen & Toubro Ltd. …Bonus Equity

5

Kamani Engineering Corporation Ltd. …Bonus Equity


and it was unanimously resolved that subject to the Listing Rules and

Regulations and compliance with the usual requirements and other special

requirements stipulated by us, their securities mentioned against their

respective names should be admitted to our list of securities traded on the

Exchange and dealings therein should be made in the lots so specified:

Northern India Hotels Ltd. Equity 50 shares

Northern India Hotels Ltd. Preference 5 shares

Madhya Pradesh Electricals Ltd. Equity 50 shares

Madhya Pradesh Electricals Ltd. Preference 5 shares

Sicals Ltd. Equity 50 shares

Orient Abrasives Ltd. Equity 50 shares

Orient Abrasives Ltd. Preference 5 shares

Haryana Breweries Ltd. Equity 50 shares

Haryana Breweries Ltd. Preference 5 shares

Eddy Current Controls Ltd. Equity 50 shares

Shree Chamundeshwari Sugar Ltd. Equity 50 shares

Shree Chamundeshwari Sugar Ltd. Preference 5 shares

Mahavir Ispat Ltd. Equity 50 shares

Mahavir Ispat Ltd. Preference 5 shares

Bengal Ferro Alloys Ltd. Equity 50 shares

German Remedies Ltd. Equity 50 shares

National Machinery Manufacturers Ltd. 8% Convertible Bonds – 1 Bond

sd/- sd/- A.J Shah Mathradas Samaldas Secretary President

Date: 8-9-73

1

Saturday, 8-9-73

A meeting of the Governing Board of the Stock Exchange was held today at ST.12.00

noon under the Chairmanship of Seth Mathradas Samaldas wherein the


Seth Mathradas Samaldas Seth B. M. Gandhi

Seth Pheroze Jeejeebhoy Seth Navinchandra Chhaganlal Kampani

Seth Rasiklal Maneklal Seth Vasantlal Champaklal

Seth Jasvantlal Chhotalal Seth B. N. Khandelwal

Seth Vasantlal Jivatlal Seth Ashokkumar G. Fozdar

Seth J. R. Motishaw Seth Chhotalal Devchand

Government Nominee

Shri M. R. Mayya


1. In the matter of the listing application of Havda Rotary Machines Ltd. its letter

dated 7-9-73 and 8-9-73 were read and the valuation reports and Balance Sheets

received therewith were looked into. It was resolved that the company should be

asked to submit urgently latest by Monday, 10-9-73 additional information and

whatever other clarification it wants to make as well as the details called for from it

which it has still not furnished, and that consideration of its listing application

should be made in the Board’s meeting on Tuesday, 11-9-73

Sd/- Sd/- A. J. Shah Jayant Amerchand Secretary President

Date: 11-9-73

Tuesday, 11-9-73


pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned


Seth Jayant Amerchand Seth J. R. Motishaw

Seth Pheroze J. Jeejeebhoy Seth Vasantlal Kantilal

Seth Laldas Jamnadas Seth B.M. Gandhi

Seth Rasiklal Maneklal Seth Mathradas Samaldas

Seth Jasvantlal Chhotalal Seth N.C. Kampani



Government Nominee

Shri M. R. Mayya


1. The listing application of Havda Rotary Machines Ltd., dated 28-6-73 and all the

correspondence with the company in that connection till today, including companies

letter dated 10-9-73 and our reply thereto given today were considered and it was

noted as under. Having considered all that, it was unanimously resolved that the

companies listing application is rejected and we cannot give permission for doing

business in its shares in our market:

i. That there were serious irregularities in regard to underwriting from the

very inception that the provision in this behalf in the draft prospectus

circulated amongst prospective underwrites and brokers was misleading

as it included the names of well-known financial institutions such as LIC,

UTI and others who subsequently did not appear as underwriters in the

final prospectus, that copies of the relevant correspondence with these

financial institutions had not been forwarded to the Exchange inspite of

reminders, that material information (such as the Balance Sheet of the

listed company and the constitution of the others) repeatedly called for

about the three principal underwriters has not been furnished though

these principal underwriters, namely, Nav Bharat Investments Ltd.,

Bombay (which does not seem to have filed its Balance Sheet with the

Registrar of Joint Stock Companies), Industrial Finance and Investment

Corporation of India, Calcutta and Market Research and Development

Council, Bombay, were responsible for underwriting equity shares of the

value of Rs.19 lakhs, Rs.8 lakhs and Rs.5 lakhs respectively representing

more than 50 per cent of the public offer and that there was failure to

make a public disclosure of the withdrawal of one of the important

underwriters, namely Messrs. Place, Siddons & Gough Pvt.Ltd., of

Calcutta.

ii. That the prospectus failed to comply with the mandatory provisions of

law contained in the Companies Act, 1956 in the matter of minimum

subscription.

iii. That the promoters as vendors had transferred their assets to the

company at the purported book value of Rs. 42,20,400/- that the copies

of Vendors’ Balance Sheets furnished by the Company showed that when

the assets were transferred by the Graphic Rotary Manufacturing

Corporation the capital provided by its sole proprietor Shri G.D. Handa

was only Rs.27,251.17 and his drawings amounted to Rs.1,22,190.67

leaving a debit balance of Rs.94,939.50 against which the unsecured

short term and long term borrowings of the concern were shown as

Rs.24,77,899.49 and similarly in the case of Vijay Engineering Works the

capital provided by the three partners Shri G.D. Handa, shri D.P. Handa

and Shri D.R. Handa amounted in all to Rs.52,897.75 against which the

unsecured short term and long term borrowings of the concern were

shown as Rs.21,64,509.54 that these disproportionately large unsecured

borrowings purported to have been made by the vendors were

represented by assets whose valuation had been done not by any

independent valuers but by the vendors themselves, that the

consideration for transferring the assets so valued was in the form of

fully paid up shares which the vendors had allotted to themselves before

their private limited company was converted into a public limited

company and the outside Directors had joined the Board and that as

such the position in respect of assets transferred by the promoters book

value of Rs.42,20,400/- appeared to be unsatisfactory.

iv. That there was objectionable publicity to attract subscriptions from the

public and that in spite of being called upon to do so more that once the

Company had failed to supply copies of advertisements, leaflets, etc.

published directly or indirectly in connection with the public issue and

offer for sale of shares.

v. That though required to do so the Company had failed to furnish

complete and properly certified copies of the documents supporting the

listing application and had also failed to rectify material omissions such

as in regard to copies of schedules annexed to and forming an important

part of the Vendors’ Agreements.

vi. That the Company had failed and neglected to furnish routine information

and comply with the usual formalities required of companies applying for

listing of new issues.


Date: 9-10-73

Tuesday, 9-10-1973

A meeting of the Governing Board of the Stock Exchange was held today at ST.

3.30 pm under the Chairmanship of Seth Jayant Amerchand wherein the


Seth Jayant Amerchand Seth Vasantlal Kantilal

Seth Pheroze J. Jeejeebhoy Seth B.M. Gandhi

Seth Mathradas Samaldas Seth N.C. Kampani

Seth Laldas Jamnadas Seth Vasantlal Champaklal

Seth Jasvantlal Chhotalal Seth B.N. Khandelwal


Seth Vasantlal Jivatlal Seth Chhotalal Devchand

Seth J.R. Motishaw

Government Nominees

Shri M. R. Mayya

Shri S. Rajgopalan


1. Resolved that the relevant notices regarding cum-right and ex-right

transactions in the shares of the undermentioned companies are

confirmed:

1 Shree Digvijay Cement Co.Ltd. Notice No:1720/73 dt. 5-9-73

2 Mahendra Electricals Ltd. Notice No:1773/73 dt. 14-9-73

3 Mahindra and Mahindra Ltd. Notice No:1774/73 dt. 14-9-73

4 Jayshree Tea and Industries Ltd. Notice No:1816/73 dt. 21-9-73


6 Camphor and Allied Products Ltd. Notice No:1844/73 dt. 26-9-73

7 The Ahmedabad Advance Mills Ltd. Notice No:1877/73 dt. 2-10-73

2. Resolved that the undermentioned Notices are confirmed:

1 Notice No:1740/73 dated 7-9-73 regarding grant of permission for

dealings in the Letters of Renunciation of the new Equity shares of Paper

and Pulp Conversions Ltd.

2 Notice No:1783/73 dated 10-9-73 regarding validity of delivery of new

equity shares of Supreme Industries Ltd., against its old equity shares.

3. The application for help of the National Association for the Blind dated 20-

9-73 was read and it was resolved to give it a donation of Rs.101/- from

the Association Fund.

4. The applications of the undermentioned employees for giving them help

for medical treatment during their sickness were considered an it was

resolved to give them assistance from Seth K.R.P. Shroff Sarvajanik Fund

as shown against their names:

Shri T.G. Rs.143.45p

Shri Santaram Narayan Rs.550/-

5. The application dated 1-10-73 for loan of sepoy Pandurang Gopal of our

office was considered and it was resolved to give him a loan of Rs.500/-.

6. The resignation dated 11-8-73 of Shri V.J.Patni, an officer of our office

staff was considered and it was resolved to accept his resignation and pay

him gratuity of Rs.11,576/50 from the Gratuity Fund and the amount

accumulated in his Provident Fund Account.

7. The resignation dated 13-9-73 of our sweeper Mohan Deva was

considered and it was resolved to accept it and pay him Rs.2568.80 from

the Gratuity Fund and the amount accumulated in his Provident Fund.

8. The application dated 31-1-73 of our pensioned Shri K.B. Daruwala for

enhancing his pension in view of the present cost of living was read and it

was resolved that those pensioners who have formally retired from the

service of our Association and are at present being given pension should

be given increased pension as follows:

Shri N.N. Dubash Rs.750/-; Shri Maganlal Jivatbhai Desai Rs.240/-; Shri

Madhav Atmaram Thone Rs.55/-; Shri Bhiva Babu Rs. 50/-, Shri Bhiva

Arjun Dhag Rs.50/- and Shri K.B. Daruwala Rs.250/- each per month.

9. Resolved that our market should be kept open on Thursday 25-10-73

from 6.30 pm to 7.30 pm for Muhurat Trading for the Kartik Vikram

Samvat 2030.

10. The application dated 17-9-73 of Shri R.K. Bhatt nominating Shri

Pravinchandra Durgashankar as a member of the Exchange in his own

place was considered and after interviewing Shri Pravinchandra

Durgashankar Shukla and his recommenders S/Shri V.K. Nanavati and

Hiralal Chunilal it was resolved by 15 votes in favour and none against to

elect Shri Pravinchandra Durgashankar as a member of the Exchange in

the place of Shri R.K. Bhatt subject to the Rules and Regulations of the

Exchange.

11. The application dated 24-7-73 of the near relatives of the late Shri

Mahavir Badridas Rungta nominating Shri Purshottamlal Mahavirprased

Rungta as a member of the Exchange in the place of the late Shri

Mahavirprasad Badridas Rungta was considered and after interviewing

Shri Purshottamlal Mahavirprased Rungta and his recommenders S/Shri

Chinubhai Dalal and Gaurishankar Puranmal it was resolved by 11 votes in

favour and none against to elect Shri Purshottamlal Mahavirprased Rungta

as a member of the Exchange subject to the Rules and Regulations of the

Exchange.

12. The application dated 12-9-73 of Shri Mohammed Hussain Ali Mohammed

Gulamhussain Mohinbhai nominating Shri Ashok Jayantilal Khandwala as a

member of the Exchange in his own place was considered and after

interviewing Shri Ashok Jayantilal Khandwala and his recommenders

S/Shri Mansukhlal Lallubhai Dalal and Sanat M. Dalal it was resolved by

15 votes in favour to elect Shri Ashok Jayantilal Khandwala as a member

of the Exchange in place of Shri Mohammed Hussain Ali Mohammed

Gulamhussain Mohinbhai subject to the Rules and Regulations of the

Exchange.

13. The matter regarding transactions in new issues was discussed and it was

postponed for further discussion in the next meeting.

14. Resolved that in respect of our old buildings constructed part of which has

been demolished from the book value of such buildings recorded in our

Accounts books Rs.1,16,499.67 should be written off by showing the

amount as expenses in the Income Expenditure Account for the year 1972

as being the cost of the demolished construction work and the balance

amount of Rs.9,80,000/- should be shown as value of the land of such

buildings.

15. The report of our Association for the year 1973 Income Expenditure

Account and Balance Sheet were passed.

16. Resolved that a Current Account and a Safe Custody Account be opened

with Bank of India in the name of Seth “K.R.P. Shroff Stock Exchange

Sarvajanik Fund” and be operated on by any two of the Trustees for the

time being namely, Shri J. R. Motishaw, Shri Rasiklal Maneklal and Shri

Dhirajlal Maganlal of any two of the surviors of them or the survivor of

them, or jointly by the President Shri Jayant Amerchand or the Chairman

Shri P. J. Jeejeebhoy, or the Vice President , Shri Mathradas Samaldas or

the Hon. Treasurer Shri Vasantlal Champaklal, and any one of the

following seven members of the Governing Board , namely, Shri Rasiklal

Maneklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharilal, Shri B.

M. Gandhi, Shri. Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal

and Shri A. R. Mahadevia and be countersign of by the Secretary Shri A. J.

Shah.

17. Resolved that a Current Account and a Safe Custody Account be opened

with Bank of India in the name of “Shri M. C. Mehta Smarak Fund” and be

operated on by any two of the Trustees for the time being, Shri J. R.

Motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any two of

the surviours of them or the survivor of them, or jointly by the President

Shri Jayant Amerchand or the Chairman Shri P. J. Jeejeebhoy or the Vice

President Shri Mathradas Samaladas or the Hon. Treasurer Shri Vasnatlal

Champaklal, and any sum of the following members of the Governing

Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani,

Shri Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah,

Shri Jasvantlal Chhotalal, and Shri A. R. Mahadevia and be countersigned

by the Secretary Shri A. J. Shah.

18. Resolved that a Current Account and Safe Custody Account be opened

with bank of India in the name of “Manilal C. Baxi Prize Fund” and be

operated on by any two of the Trustees for the time being, namely, Shri J.

R. Motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any two

of the surviors of them or the survivor of them, or jointly by the President

Shri Jayant Amerchand or the Chairman Shri P. J. Jeejeebhoy or the Vice-

President Shri Mathradas Samaldas or the Hon Treasurer Shri Vasantlal

Champaklal, and any of the following seven members of the Governing

Board, namely Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani, Shri

Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasnatlal Kantilal Shah, Shri

Jasvantlal Chhotalal and Shri A. R. Motishaw and be countersigned by the

Secretary Shri A. J. Shah.


with Bank of India in the name of “Famine Relief Fund” and be operated

on by any two of the Trustees for the time being, namely, Shri J. R.

Motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any two of

the survivors of them of survivor of them, or jointly by the President Shri

Jayant Amerchand or the Chairman Shri P. J. Jeejeebhoy or the Vice-

President Shri Mathradas Samaldas or the Hon. Treasurer Shri Vasantlal

Champaklal, and any one of the following members of the Governing


Shri Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah,

Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned

by the Secretary Shri A. J. Shah.


with Bank of India in the name of “Sankat Nivaran Fund” and the operated

on by any two of the Trustees for the time being, namely, Shri J. R.

motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any two of

the survivors of them or the survivor of them, or jointly by the President

Shri Jayant Amerchand or the Chairman Shri P. J. Jeejeebhoy or the Vice-

President Shri Mathradas Samaldas or the Hon Treasure Shri Vasantlal

Chhotalal and any one of the following seven members of the Governing

Board, namely Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani Shri

Hiralal Girdharilal, Shri B. M. Gandhi, Vasantlal Kantilal Shah, Shri

Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned by

the Secretary Shri A. J. Shah.

21. Resolved that a Current Account and Safe Custody Account opened with

Bank of India in the name of “Sheth Shantilal Jamnadas Smark Fund and

be operated on by any two of the Trustees for the time being, namely Shri

J. R. motishaw, Shri Rasiklal Maneklal and Shri Dhirajlal Maganlal or any

two of the survivors of them or the survivor of them or jointly by the

President Shri Jayant Amerchandor or the Chairman Shri P. J. Jeejeebhoy

or Wice-President Shri Mathradas Samaldas or the Hon. Treasurer Shri

Vasantlal Champaklal, and any one of the following seven members of the

Governing Board, namely, Shri Rasiklal maneklal, Shri Navinchandra C.

Kampani, Shri Hiralal Girdharilal, Shri B. M. Gandhi, Shri Vasantlal Kantilal

Shah, Shri Jasvantlal Chhotalal and Shri A. R. mahadevia and be

countersigned by the Secretary Shri A. J. Shah.


with Bank of India in the name of “Dharmada Fund” and be operated on

by any two of the Trustees for the time being, namely, Shri J. R.

motishaw, Shri Rsiklal Maneklal and Shri Dhirajlal Maganlal or any two of

the survivors of them or the survivor of them, jointly, by the President

Shri Jayant Amerchand or the Chairman Shri P. J. Jeejeebhy or the Wice-

President Shri Mathrudas Samaldas or the Hon. Treasurer Shri Vasantlal

Champaklal, and any one of the following seven member of the Governing


Shri Hiralal Girdharialal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah,

Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned

by the Secretary Shri. A. J. Shah.

23. The Chairman made mention about the prevailing market situation and

because of that having taken from time to time additional security deposit

in different ways, having understood that, it was resolved to confirm the

notices put up in that connection, especially Notice No:1240/73 dated 9-

8-73 and to authorized the Chairman to make changes and / modifications

therein from time to time as deemed proper and to take additional

security deposit in any other manner and take other safety measures.

24. The application dated 27-9-73 of M/s Porecha Brothers to give them

extension of time for filing an appeal against the award of the lower bench

of the Arbitration Committee in the dispute between them and M/s

S.L.Despande and Co., regarding the shares of Sutdoj Cotton Mills Ltd.,

was considered and it was resolved that M/s Porecha Brothers be given

time upto 17-10-73 for filing an appeal in that matter.

25. The letters dated 1-9-73 and 28-9-73 of Industrial Cables (India) Ltd.,

were considered and it was unanimously resolved that as the equity

shares of the company have been sub-divided into shares of Rs.10/- each

the trading lot of those shares should be changed and kept of 50 shares of

Rs.10/- each.

26. The letter of Indo Swedish Pipe Manufacturers Ltd., dated 14-9-73 and the

letter dated 27-9-73 of Uttar Pradesh Steels Ltd., were read and it was

resolved to re-admit their shares to the list of securities traded on the

Exchange, as they have paid the Annual Listing Fee for the year 1973.

27. The listing applications of the undermentioned companies were considered

and it was unanimously resolved to confirm admission of their securities

shown against their respective names to our list of securities traded on

the Exchange:

Khatau Makauji Spg.& Wvg. Co. Ltd. Bonus Equity

Special Steels Ltd. Bonus Equity

The West Coast Paper Mills Ltd. Bonus Equity

Sakthi Sugars Ltd. Bonus Equity

Ceat Tyres of India Ltd. Bonus Equity




requirements stipulated b us their securities mentioned against their

respective names should be admitted to our list of Non-Cleared Securities

and dealings in those securities should be made in the trading lots

specified against their respective names:

Bilarpur Spg. Mills and Industries Ltd. Equity 50 shares

Bilarpur Spg. Mills and Industries Ltd. 9.3% Preference shares – 5 shares

Bilarpur Spg. Mills and Industries Ltd. 9.5% Preference shares – 5 shares

Bilarpur Spg. Mills and Industries Ltd.

Bhagwati Oxygen Ltd. Equity 50 shares

Julon Fabrics Ltd. Equity 50 shares

Uni Abex Alloys Products Ltd. Equity 50 shares

Uni Abex Alloys Products Ltd. Preference 5 shares

Deccan Steel & Alloys Corporation Ltd. Equity 50 shares

Deccan Steel & Alloys Corporation Ltd. Preference 5 shares

Hind Wire Industries Ltd. Equity 50 shares

Unicorn Tyres Ltd. Equity 50 shares

Machine Fabric Polygraph (India) Ltd. Equity 50 shares

Searsal Chemicals Ltd. Equity 50 shares

Ajay Electricals Ltd. Equity 50 shares

Ajay Electricals Ltd. Preference 5 shares

Marathwada Alloy Steels Co.Ltd. Equity 50 shares

Grayham First Steel Products (India) Ltd

Equity 50 shares

Karnatak Steel & Wire Product Ltd. Equity 50 shares

Karnatak Steel & Wire Product Ltd. Preference 5 shares


Date: 20-11-73

1

Tuesday, 20-11-73




Seth Jayant Amerchand Seth Vasantlal Kantilal

Seth Pheroze J. Jeejeebhoy Seth B.M. Gandhi

Seth Mathradas Samaldas Seth N.C. Kampani

Seth Rasikal Maneklal Seth Vasantlal Champaklal

Seth Jasvantlal Chhotalal Seth B.N. Khandelwal


Seth Vasantlal Champaklal Seth Chhotalal Devchand

Seth J.R. Motishaw

Government Nominees

Shri M. R. Mayya


1. Resolved that the notices regarding ex-right and cum-right transactions

mentioned against the names of the respective undermentioned companies

should be confirmed:

1 Indian Aluminum Co. Ltd. Notice No:1995/73 dt. 17-10-73

2 Jayant Paper Mills Ltd. Notice No:2028/73 dt. 20-10-73

3 Modela Woollen Mills Ltd. Notice No:2048/73 dt. 24-10-73

4 The Raymond Woollen Mills Ltd. Notice No:2094/73 dt. 2-11-73

5 The Dharamsi Morarji Chemicals Ltd. Notice No:2095/73 dt. 2-11-73

6 Sandwik Asia Ltd. Notice No:2210/73 dt. 19-11-73

2. Resolved that the Notices mentioned against their names of the undermentioned

companies giving permission to deal in the Letter of Renunciation of their new

shares should be confirmed :

1 The Industrial Credit and Investment


Notice No:2090/73 dt. 2-11-73

2 The Ahmedabad Advance Mills Ltd. Notice No:2150/73 dt. 9-11-73

2


3. Resolved that the undermentioned notices should be confirmed:

1 Notice No:1968/73 dated 12-10-73 instructing to write in the shares of the

Baroda Rayon Corporation Ltd., instead of the shares of Gujarat Polyamides Ltd.

2 Notice No: 2046/73 dated 24-10-73 regarding giving of permission for dealing in

coupons of the bonus equity shares of Indian Vegetable Products Ltd.

3 Notice No: 2049/73 dated 25-10-73 regarding making adjustment of the

dividend on the shares of Belapur Sugar Industries Ltd.

4 Notice No: 2074/73 dated 31-10-73 regarding permissibility of delivery of new

equity shares of Verdhman Spg. & General Mills Ltd., against its old shares.

4. The application for help dated 28-9-73 of the Poona School and Home for the

Blind was considered and it was resolved to give it a donation of Rs. 101/- from


5. The applications for loans of the undermentioned persons of our office staff were

considered and it was resolved to give them loans of the amounts mentioned

against their respective names:

Shri C.V. Valsan Rs. 1800/-

Shri N.M. Ale Rs. 1200/-

Watchman S.K. Lal Rs. 500/-

Liftman S.V. Jadav Rs. 300/-

6. The application dated 14-11-73 of our office staff member Shri S.M.Dauda for

giving him assistance of the college fee of Rs. 112/- of the second term of 1st LLB

was considered and it was resolved to give him that much assistance from Shri

M.C.Mehta Smarak Fund.

7. The application for undermentioned partnership were considered and approved:

Name of Partnership Firm

Name of Partners Date of partnership

M/s A.B. Pandit & Co Shri Dattaram Narkari Patkar Shri Narhar Dattaram Patkar

1-10-73

M/s Mahavir Badridas Shri Satyanarayan Bhuramal 2-11-73 Shri P.M. Rungta

8. The letter dated 2-11-73 of S/Shri Jayantilal N. Patel and Sakarchand Hathising

were considered and it was resolved to confirm the permission given to Srhi

Sakarchand Hathising to do business as a Representative Member of Shri

Jayantilal N. Patel.

9. The letter dated 21-7-73 of Shri Sunderdas Kalyanji Kankal and the letter dated

24-8-73 pf Shri Shivdas Thakarsi were read and it was resolved to annul the

3

claim of Rs.15000/- of Shri Sunderdas Kalyanji Kankal recorded against Shri

Shivdas Thakarsi.

10. The application dated 3-9-73 of S/Shri Shivdas Thakarsi and Prakash Shivdas

Thakarsi for partnership and their letters dated 3-9-73 as well as of Shri Jayantilal

Jeshinglal to give permission to the said partnership to do business as a

Representative Member of Shri Jayantilal Jeshinglal were considered and it was

resolved that their request cannot be complied with.

11. The letter dated 1-11-73 of Bai Sharda Gulabchand and Shri Sumantrai

Gulabchand Shah was considered and it was resolved to give permission to Shri

Sumantrai Gulabchand to continue the business of the late Shri Gulabchand

Mulchand Shah for three months.

12. The letter dated 1-11-73 of Shri Krishnavadan Chhotalal Dalal and others was

considered and it was rsolved to give permission to S/Shri Krishnavadan

Chhotalal Dalal and Ranjitlal Chhotalal Dalal to continue the business of M/s C.V.

Dalal & Co., for a further period of 2 months.

13. The Board noted that the Chairman had declared Shri Jayantkumar Khatau as a

defaulter as he had failed to meet his liabilities in the market and Shri V.V.Ruia

has become a defaulter according to our Rules and Regulations as he has been

declared as an insolvent on 17-7-73.

14. The Association Holidays for the year 1974 were fixed.

15. Resolved that the President and the Chairman both together should purchase

processor, card reader, line printer, magnetic tape unit etc., electronic

equipments from the Hyderabad Electronic Corporation of India as they deem fit.

16. The application dated 3-10-73 of the near relatives of the late Shri Sitaldas

Tirathdas nominating Shri Kantilal Tirathdas as a member of the Exchange in the

place of the late Shri sitaldas Tirathdas was considered and after interviewing Shri

Kantilal Tirathdas and his recommenders S/Shri Jitendra Champaklal ans S.B.

Sirale it was resolved by 13 votes in favour and none against to elect Shri

Kantilal Tirathdas as a member of the Exchange in the place of the late Shri

Sitaldas Tirathdas, subject to the Rules and Regulations of the Exchange.

17. The application dated 20-10-73 of the near relatives of the late Shri Mahadeo

Vishnu Gokhle nominating Shri Satyanarayan Mangilal Khetan as a member of the

Exchange in the place of the late Shri Mahadeo Vishnu Gokhle was considered

and after interviewing Shri Satyanarayan Mangilal Khetan and his recommenders

S/Shri D.G. Goenka and Manubhai Maneklal it was resolved by 13 votes in favour

and none against to elect Shri Satyanarayan Mangilal Khetan as a member in the

place of late Shri Mahadeo Vishnu Gokhle subject to the Rules and Regulations of

the Exchange.

4

18. Resolved that “ending of the arrangements” with Gerze Eastern Ltd., in

connection with construction of our new building as stated in their letter dated

10-8-73 should be approved and the arrangements made as under instead of that


Appointment

Remuneration

Project Architect – Shri Chandrakant Patel of Architectural Research Unit

Subject to the ceiling of 71/2 lakhs Rupees, 31/2 % of the cost of the construction of the building-excluding the expenditure for lifts and air-conditioning plant.

Stock Exchange Architect- Shri Jamshed B. Aga of M/s Shapoorji Chandabhai

Rs. 2500 p.m.- subject to the ceiling of Rs. 50,000/- total.

Structural Consultants- M/s Hadkar Prabhu and Associates

Subject to the ceiling of Rs.31/2 lakhs, 21/2% of the value of the structural work excluding therefrom the amount paid to M/s Rodio Hazard billed before now.

Air-conditioning Consultants – M/s Manek N. Dastoor

Subject to a ceiling of Rs. 11/2 lakhs, 11/2% of the expenses of the work for air-conditioning and ventilation.

M/s Hydro –Mechanical Services

Subject to the ceiling of Rs.10,000/-, 1% of the expenses of the plumbing and sanitation work for supervision during alterations and modifications and the construction work.

Consultants for Electric Installations – shri D.N. Purandar and Associates

Rs. 25,000/-

Praoject Manager- Lt. col. P.D. Jain

Salary, allowances etc., Total Rs.3500/- p.m.

Note: If any additional construction work if done in lieu of the existing space

excepting the Cama building and 4th and 5th floors of the existing building

on the Apollo Street, then each of the above mentioned consultants for

whose fees ceilings have been fixed shall be paid additional remuneration

at the percentage rate mentioned above.


was unanimously resolved to confirm admission of their below mentioned

securities to the list of securities traded on our Exchange:

Tata Chemicals Ltd. New Equity

5

The Morarji Gokuldas Spg. & Wvg., Co.Ltd. Bonus Equity

Indian vegetable Products Ltd. Bonus Equity

The Scindia Steam Navigation Co.Ltd. Bonus Equity

20. The listing applications of the undermentioned companies were considered an it

was unanimously resolved that subject to the Listing Rules and Regulations as


stipulated by us, their securities mentioned against their names should be

admitted to our list of Non-Cleared Securities and dealings in those securities

should be done in the specified lots:

The Andhra Bank Ltd. Equity 5 shares

Punjab Anand Batteries Ltd. Equity 50 shares

Punjab Anand Batteries Ltd. Preference 5 shares

Yeast Alco Enzymes Ltd. Equity 50 shares

Madras Cements Ltd. Equity 5 shares

Madras Cements Ltd. Preference 5 shares

Sunita Vitamins & Chemicals Ltd. Equity 50 shares

Sunita Vitamins & Chemicals Ltd. Preference 5 shares

Ranbaxy Laboratories Ltd. Equity 50 shares

Saraiya Steel Ltd. Equity 50 shares

Goa Carbon Ltd. Equity 50 shares

Goa Carbon Ltd. Equity 50 shares

Crest Dyes & Chemicals Ltd. Equity 50 shares

Moon-Star Investments Ltd. Equity 50 shares

Andhra Steel Corporation Ltd. New 9.5% preference – 5 shares.

21. In the matter relating to the listing application of Multe Steels (India) Ltd., the

telegram of the Economic Affairs Department and a copy of the letter written by

the Deputy Controller of Capital Issues to the company on 9-11-73 were read

and it was resolved to postpone the matter at present.

22. The letter dated 22-10-73 of the Century Spg., and Mfg., Co.Ltd., was read and

it was unanimously resolved to remove its 8.50% Preference shares from our

list of securities traded on the Exchange as they are to be redeemed.

23. RESOLVED THAT with effect from the 1st of January, 1974, the following

amendment be made in the Regulations and Government be informed

accordingly

For Regulation 1.15, the following shall be substituted namely:

“Variation in Bids and offers

6

1.15 Unless otherwise directed by the Governing Board or otherwise

stipulated when entering into the bargain bids or offers shall be made at

the following minimum variations or multiples thereof:

I Shares of Joint Stock Companies when

market price

Dose not exceed Rs.5

Exceed Rs.5 but dose not exceed Rs.75

Exceed Rs.75

Minimum Variation

Re.0.02,

Re.0.05

Re.0.25

II Government Securities (including Loans and

Debenture of Port Trust, Municipal

Corporation, etc.

Re.0.05

III Debentures of Joint Stock Companies Re.0.05


Date: 24-12-73

Monday, 24-12-1973





Seth Pheroze J. Jeejeebhoy Seth Vasantlal Kantilal

Seth Rasikal Maneklal Seth B.M. Gandhi

Seth Jasvantlal Chhotalal Seth Vasantlal Champaklal

Seth Hiralal Girdharlal Seth B.N. Khandelwal


Government Nominees

Shri M. R. Mayya



companies regarding ex-right and cum-right transactions in their shares are

confirmed:

1 Jayant Paper Mills Ltd. Notice No:2244/73 dt. 23-11-73

2 Southern Steel Ltd. Notice No:2333/73 dt. 3-12-73

3 The Ravalgaon Sugar Farm Ltd. Notice No:2368/73 dt. 5-12-73

4 Asian Electronics Ltd. Notice No:2468/73 dt. 21-12-73


1 Notice No:2219/73 dated 21-11-73 regarding keeping the market closed on 21-

11-73 for business.

2 Notice No: 2288/73 dated 28-11-73 for keeping the market open from S.T. 12

to 1 pm., on every Thursday for doing business.

3 Notice No: 2300/73 dated 29-11-73 regarding permissibility of delivery of bonus

equity shares of Special Steels Ltd., against its old shares.

3. The applications of the undermentioned persons who have left their jobs from our

staff for paying them their Provident Fund amounts were read and it was resolved

to pay each of them the amount of the Provident Fund noted against their names,

according to the rules and regulations of our Provident Fund.

Shri J.A. Baraco Rs.1827/72

Shri C.K.M. Pilai Rs. 368/98

4. The applications of the undermentioned persons of our office staff for giving them

loans were read and it was resolved to give each of them a loan of the amount

stated against their respective names:

Shri R.R. Shivalkar Rs.1500/-

Sepoy Raghunath Krishnaji Rs. 1000/-

Sepoy Govind Mahadev Khotala Rs. 700/-

5. Resolved that a donatin of Rs. 4400/- should be given to Share Bazar Hetwarthak

Mandal from Shri M.C. Mehta Smarak Fund.

6. The application dated 15-12-73 of Shri T.G. Babu of our office staff for giving him

assistance for the expenses incurred by him for medical treatment during his

sickness was read and it was resolved to give him assistance of Rs.100/-

therefore from Seth K.R.P.Shroff Stock Exchange Sarvajanik Fund.

7. The letter dated 19-11-73 of S/Shri Minoo Ardesar Karanjia, Soli Ardesar Karanji,

Minoo Navroji Gandhi and Hoshang Framroze Munshi was read and it was noted

that Shri Hoshang Framroze Munshi was to retire from M/s Batliwala & karani

from 17-12-83.

8. The applications relating to the undermentioned partnerships were considered

and approved:

Name of Partnership Firm

Name of Partners Date of partnership

M/s Dhirajlal Kalyanji Shri Dhirajlal Kalyanji Shri Harikishandas Kalyanji

10-12-73

M/s Vithaldas Ramji Marthak

Shri Vithaldas Ramji Marthak Shri Jitendra Vithaldas Shri Kishor Vithaldas Marthak

27-10-73

9. The letter dated 29-11-73 of Maharashtra Development Counsel was read and it

was resolved that as it our policy not to become a member of any association or

institution, the matte should be postponed at present.

10. The application dated 20-11-73 of Shri Nemchand Vithalji nominating Shri

Kirtikumar Narbheram Parekh as a member of the Exchange in his own place was

considered and after interviewing Shri Kirtikumar Narbheram Parekh and his

recommenders S/Shri Navalchand Tarachand Shah and Jayantilal C. Shah it was

resolved by 10 votes in favour and none against to elect Shri Kirtikumar

Narbheram Parekh as a member of the Exchange in the place of Shri Nemchand

Vithalji Shah subject to the Rules and Regulations of the Exchange.

11. The letter dated 19-12-73 of Shri Chunilal Shivnarayan Mamandas withdrawing

his application for membership of the Exchange was noted.

12. The letters dated 16-11-73 of S/Shri Ambalal Velji Shah and Vijay Ambalal Shah

withdrawing their application regarding nomination of Shri Vijay Ambalal Shah in

the place of Shri Ambalal Velji Shah as a member of the Exchange was read and

taken note of.

13. Resolved that Notice No:2422/73 dated 13-12-73 regarding extension of

“Statement Day” to 9-1-84 because of Christmas Holidays and hence treating the

transactions to be settled accordingly as special delivery transactions should be

confirmed.

14. Resolved that the Notice No:2427/73 dated 13-12-73 regarding settlement of

shares by “Sellers” Tickets should be confirmed. Further resolved that the

Chairman be given powers to make alterations and additions in that system from

time to time as he deems fit and also powers to introduce any similar or other

system of settlement.

15. Resolved to confirm the order given to Godrej Boyce & Mfg. Co.Ltd., for the

tangbars required for construction of the safe deposit vault to be built in the

basement of our new building and also for its main door.


was unanimously resolved to approve admission of their securities mentioned

against their respective names to the list of securities traded on our Exchange.

The New Shorok Spg.& Mfg. Co.Ltd. New Equity shares allotted to

the shareholders of Magatlal

Gagalbhai & Co. Pvt.Ltd.

The Polychem Ltd. Bonus Equity

Motor Industries Ltd. New Equity

United Carbon India Ltd. Bonus Equity

Bharat Steel Tubes Ltd. Bonus Equity

The Baroda Rayon Corporation Ltd. New Equity shares issued in lieu

of the shares of Gujarat

Polymedes Ltd.


was unanimously resolved that subject to the Listing Rules and Regulations as


stipulated by us their securities as mentioned below should be admitted to our list

of Non-Cleared Securities and dealings in those securities should be made in the

Specified lots:

Muzaffairnagar Steels Ltd Equity 50 shares

Muller and Phillips India Ltd. Equity 50 shares

Jupiter Breweries Ltd. Equity 50 shares

Stobee Screens India Ltd. Equity 50 shares

Canara Steel Ltd. Equity 50 shares

Agarwal Steel Complex Ltd. Equity 50 shares

Agarwal Steel Complex Ltd. Preference 5 shares

Universal Glass Ltd. Equity 50 shares

B.D. Steel Castings Ltd. Equity 50 shares

B.D. Steel Castings Ltd. Preference 5 shares

Bharat Commerce & Industries Ltd. Equity 50 shares

Bharat Commerce & Industries Ltd. Second Preference 5 shares

Bharat Commerce & Industries Ltd. Third Preference 5 shares

Thirumalai Chemicals Ltd. Equity 50 shares

Mysore Petro Chemicals Ltd. Equity 50 shares

Mysore Petro Chemicals Ltd. Preference 5 shares

Bengal Arc Steel Ltd. Equity 50 shares

Madhya Pradesh Industries Ltd. New Equity 50 shares

Star Textile Engineering works Ltd. New Equity t50 shares

Star Textile Engineering Works Ltd. 9.5% new preference share

– 5 shares

Modi Industries Ltd. New equity – 100 shares.

18. In the matter relating to Multi Steel (India) Ltd., the telegram of the Economic

Affairs Department was read. As the company has given satisfactory clarification

to the Government ans the Government has accepted it, the listing application of

the company was considered and it was resolved that subject to the Listing Rules

and Regulations as well as compliance with the usual requirements and other

special requirements stipulated by us, its equity shares should be admitted to our

Non-Cleared Securities list and trading in those shares should be done in lots of

50 shares.

19. It was noted that the Handa Rotary Machines Ltd., has appealed to Government

against our decision to reject its listing applications and it was resolved that we

should engage a Counsel to represent on our behalf in that appeal matter and the

Chairman should do the needful in that connection.

20. Unanimously resolved that as the 61/2% Preference shares of Mahindra & Mahindra

have been redeemed those shares should be removed from our list of securities


21. Unanimously resolved that as the Deferred shares of the Ravalgaon Sugar Farm

Ltd., have been converted into equity shares, the said deferred shares should be

removed from our list of securities traded on the Exchange.

22. Resolved that a donation of Rs. 1,00,000 should be given from the Association

Fund to the Stock Exchange Foundation which has been approved under Section

35(1)(2).

23. Resolved that an assistance of Rs. 65,000/- should be given to the Stock

Exchange Foundation from “The Stock Exchange Education and Research Services

Fund” and also of Rs.500/- to Shri M.C. Mehta Smarak Fund.


Date: 22-1-74

Tuesday, 22-1-74





Seth Pheroze J. Jeejeebhoy Seth A.R. Mahadevia

Seth Mathradas Samaldas Seth Vasantlal Kantilal

Seth Rasikal Maneklal Seth B.M. Gandhi

Seth Hiralal Girdharlal Seth Navinchandra C. Kampani

Seth Ashokkumar G. Fozdar

Government Nominees

Shri M. R. Mayya

Shri S. Rajgopalan



companies regarding ex-right and cum-right transactions in their shares are

confirmed:

1 J.K. Synthetics Ltd. Notice No:2497/73 dt. 24-12-73

2 Kirloskar Ghatge Patil Auto Ltd. Notice No:16/74 dt. 1-1-74

3 Swan Mills Ltd. Notice No:65/74 dt. 9-1-74

4 Aditya Mills Ltd. Notice No:97/74 dt. 15-1-74

5 Bombay Dyeing & Mfg. Co.Ltd. Notice No:103/74 dt. 16-1-74

6 Amar Dye Chem. Ltd. Notice No:127/74 dt. 18-1-74


1 Notice No:2513/73 dated 29-12-73 regarding settlement of hand delivery

transactions and of the foreign securities after the Christmas.

2 Notice No: 2510/73 dated 29-12-73 regarding allowing transactions in Letter of

Renunciation of the new Equity shares of Indian Aluminum Co.Ltd.

3 Notice No: 18/74 dated 1-1-74 regarding market of ex-dividend transactions in

shares other than those which are settled by red black forms instead of from the

date of closure of the transfer books from the first Monday following the date of

closure of the transfer books.

4 The Notice No:22/74 dated 3-1-74 regarding permission given for dealings in

coupons of the bonds equity shares of Sandwik Asia Ltd.

3. The applications for help of the undermentioned institutions were considered and

it was resolved to give each of them a donation of Rs.101/- from the Association

Fund:

The Krishnakumarsinghi School and Home for the Blind.

The Maharashtra State Anti Tuberculosis Association

The Bombay Dumb and Deaf Institution.

4. The applications dated 4-1-74 of Shri P.P. Dave of our staff for giving him

assistance towards the expenses for medical treatment of his wife during her

sickness and also to give him a loan of Rs.1300/- were considered and it was

resolved that as his wife expired after long sickenss, as a special exceptional

case, he should be given assistance of Rs. 1712/50 from “Seth K.R.P. Shroff

Stock Exchange Sarvajanik Fund”.

5. The application of our office sepoy Balkrishna Yeshwant dated 18-1-74 for giving

him a loan of Rs.1500/- was considered and it was resolved to give him a loan of

Rs.1,100/-.

6. The letter dated 4-1-74 of S/Shri Minoo Ardeshir karanjia, soli Ardeshir Karanjia

and Minoo Navroji Gandhi was read and it was noted that Shri Minoo Navroji

Gandhi had separated from the partnership firm of M/s Batliwala & Karani with

effect from 31-12-73.

7. The application dated 19-1-74 of m/s Devidas Jamnadas to give them extension

of time for filing an appeal against the decision of the Lower bench of the

Arbitration Committee in the dispute between Shri Yashwant N. Shah and M/s

Devidas Jamnadas was considered and it was resolved to give them an extension

of time for filing the appeal upto 31-1-74.

8. The application dated 28-12-73 of M/s Jamnadas Virji & sons to give them an

extension for filing an appeal against the decision of the Lower Bench of the

Arbitration Committee in the dispute between Shri Yashwant N. Shah and M/s

Jamnadas Virji & Sons was considered and it was resolved to give extension of

time for fiing the appeal upto 31-3-74.


was unanimously resolved to confirm admission of their respective securities to


Paper & Pulp Conversions Ltd. New Equity.

Hindustan Wires Ltd. Bonus Equity

Camphor & Allied Products Ltd. Bonus Equity

The Ugar Sugar Works Ltd. Bonus Equity


it was unanimously resolved that subject to the Listing Rules and Regulations as

well as compliance with the usual requirements and special requirements

stipulated by us their securities mentioned below against their names should be

admitted to our list of Non-Cleared Securities trading in those securities should

be done in the lots specified against them:

Venus Paper Mills Ltd. Equity 50 shares

Apollo Tubes Ltd. Equity 50 shares

Apollo Tubes Ltd. Preference 5 shares

Kirloskar Tractors Ltd. Equity 50 shares

Bright Wires Ltd. Equity 50 shares

Perfect Pack Ltd. Equity 50 shares

Raipur Wire & Steel Ltd. Equity 50 shares

Shree Proteins & foods Ltd. Equity 50 shares

Indian Aluminum Co.Ltd. New Ordinary 100 shares

11. In the matter of the appeal made by Handa Rotary Machines Ltd., to

Government in connection with listing of its shares, after discussion about the

letter written by Government on 8-1-74 a copy of which has been sent to us as

well as the letter of 15-1-74 written to us by government and having taken note

of the advise of our Counsel, it was resolved to write to government as under:

“A coy of the letter dated the 8th January addressed to the Appellate Authority

on behalf of Handa Rotary Machines Ltd., has been enforced to the Exchange

together with copies of the submissions referred to therein. The company has

also addressed to the Exchange a letter dated the 15th January forwarding

copies of the communication received by it from the Manager to the Issue viz.

Market Research & Development Council and from three of its underwriters viz.

Nav Bharat Investment, Ltd. Industrial Finance & Investment Corporation of

India and Market Research & Development Council.

The aforesaid letters and submissions were considered by the Governing board

at its meeting held today. The Governing Board has been advised that it is for

the Appellate Authority to decide the matter but the proposals and submissions

made in behalf of the Company appear to be such that for from inspiring any

confidence they produce the country affect.”


Date: 22-1-74

Tuesday, 29-1-74 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth A.R. Mahadevia Seth Phiroze J. Jeejeebhoy Seth Vasantlal Kantilal Seth Laldas Jamnadas Seth B.M. Gandhi Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Hiralal Girdharlal Seth N.C. Kampani Seth Vasantlal Jivatlal Seth Vasantlal Champaklal Seth J.R. Motishaw Seth B.N. Khandelwal Seth Ashokkumar G. Fozdar

Government Nominees Shri M.R. Mayya

Shri S. Rajagopalan The following business was transacted in the meeting: 1. Resolved that the undermentioned notices regarding ex-right and cum-right

transactions in the shares of the companies mentioned therein should be

confirmed:

1. The Standard Batteries Ltd. .. Notice No:141/74 dt. 22-1-74

2. The Great Eastern Shopping Co.Ltd. ..Notice No:160/74 dt.25-1-74.

2. Resolved that the Notice No:126/74 dt. 18-1-74 regarding continuation of

cum-right transactions in the shares of the Ahmedabad Electricity Co. Ltd.,

should be confirmed.

3. The application dated 15-1-74 of the near relatives of the late Shri Chhotalal

Vrajdas Dalal nominating Shri Krishnavadan Chhotalal Dalal as a member of

the Exchange in the place of the late Shri Chhotalal Vrajdas Dalal was

considered and after interviewing Shri Krishnavadan Chhotalal Dalal and his

recommenders Shri Vinaychandra Narbheram Parekh it was resolved by 13

votes in favour and none against to elect Shri Krishnavadan Chhotalal Dalal as

a member of the Exchange in the palce of the late Shri Chhotalal Vrajdas

Dalal, subject ot the Rules and Regulations of the Exchange.

4. The listing application of the Dharamsi Morarji Co.Ltd., was considered and it

was unanimously resolved to confirm listing of bonus equity shares of the

company on the Exchange.

5. The listing application of the Southern Nitro Chemicals Ltd., was considered


Regulations and compliance with the other requirements stipulated by us their

equity shares should be admitted to our list of Non-Cleared Securities and

dealings in those shares should be done in lots of 50 shares each.

6. The tenders for building the core of our new building received from M/s

Shapurji Palonji & Co., (Pvt) Ltd., and Engineering Construction Corporation

Ltd., were compared and evalutated for about Rs. 83 lakhs and 73 lakhs

respectively by our Architects M/s Architectural Research Unit and Structural

Consultants M/s Hadkar Prabhu and Associates. Approval was given for

accepting the tender of Engineering Construction Corporation Ltd.

Seth A. R. Mahadevia came and joined the meeting at this point of time.

7. The telegram received from Shri M.R. Mayya, Dy.Director, Stock Exchange

Division suggesting that the Stock Exchange should express their views about

the proposals made by Handa Rotary Machines Ltd., in its appeal to the

Government and the details of the decision made by the Calcutta Stock

Exchange in that matter listened. It was the common view of the Board that

for the present we do not have to do anything in that matter.

Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 2-2-74.

Saturday, 2-2-74 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 1.30pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Seth Phiroze J. Jeejeebhoy Seth B.M. Gandhi Seth Rasiklal Maneklal Seth B.N. Khandelwal Seth J.R. Motishaw Seth Ashokkumar G. Fozdar

Government Nominee Shri M.R. Mayya

The following business was transacted in the meeting: 1. The Government’s telegram dated 31-1-74 requiring to send our detailed

views in writing about the proposal made by Handa Rotary Mchines Ltd., in its

appeal to the Government was considered and it was unanimously resolved

that we should write to the Government accordingly to the draft prepared as

per the advice of our counsel in the matter.

Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President 19-2-74

Tuesday,19-2-74

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Seth Phiroze J. Jeejeebhoy Seth B.M. Gandhi Seth Mathradas Samaldas Seth N.C. Kampani Seth Rasiklal Maneklal Seth B.N. Khandelwal Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Hiralal Girdharlal Seth Vasantlal Jivatlal


Shri S. Rajagopalan The following business was transacted in the meeting: 1. Resolved that the undermentioned notices regarding cum-right and ex-right

transactions in the shares of the companies mentioned therein should be

confirmed:

1. Colour Chem Ltd. Notice No: 200/74 dt. 31-1-74

2. Zandu Pharmaceuticals Ltd. Notice No: 201/74 dt. 31-1-74

3. Vidia India Ltd. Notice No: 224/74 dt. 5-274

4. Associated Bearings Co.Ltd. Notice No: 225/74 dt. 6-2-74

5. W.S. Insulators of India Ltd. Notice No: 243/74 dt.8-2-74

6. The Poddar Mills Ltd. Notice No: 250/74 dt.9-2-74

7. Hicks Thermometers (India)Ltd. Notice No:208/74 dt. 13-2-74

8. Bharat Bijali Ltd. Notice No: 301/74 dt.15-2-74

2. Resolved that the notices mentioned against the name of the

undermentioned companies regarding permission given to do business in

the Letters of Renunciation of their new shares are confirmed:

1. Kirloskar,Ghatge,Patel Auto Ltd. Notice No: 257/74 dt.11-2-74

2. Aditya Mills Ltd. Notice No: 261/74 dt.12-2-74

3. Southern Steel Ltd. Notice No: 318/74 dt.18-2-74

4. Jayant Paper Mills Ltd. Notice No: 319/74 dt.18-2-74


1. Notice No: 206/74 dt.1-2-74 to keep the market closed on Monday

4-2-74 as it is the Association Holiday of Moharam.

2. Notice No: 248/74 dt. 8-2-74 regarding keeping the market open

from 12 to 2 pm on Thursday as usual from now.

3. Notice No: 277/74 dt. 13-2-74 regarding keeping the market open

on Saturday 2-3-74 for doing business.

4. Notice No: 295/74 dt. 15-2-74 for not doing business in the shares of

Adarsh Chemicals and Fertilisers and Notice No:326/74 dt. 19-2-74

for resuming the business thereof.

4. Government’s letter dated 23-1-74 regarding appointment of Shri M.C.

Bhatt, Director, Ministry of Finance Department of Economic Affairs as a

Government Nominee on our Board in the place of Shri N.C. Maitra was read

and taken note of.

5. The application dated 29-1-74 of Shri S.M. Davda of our office for giving

assistance to him of the examination fee of Rs. 72/- of the first year of LLB

was considered and it was resolved to give him that assistance from Shri

M.C. Mohta Smarak Fund.

6. The application of our sweeper Bhagwandas Tiloo for giving him a loan of

Rs.2000/- for obtaining residential accommodation was considered and it

was resolved to give him a loan of Rs. 1000/-.

7. The application dated 9-2-74 of S/Shri Valji Bhimji Jesrani and Dinesh Valji

Jesrani for partnership between them was considered and it was considered

and it was resolved to approve the partnership under the name of M/s Valji

Bhimji & Co., with effect from 1-2-74.

8. The letters dated 30-1-74 of M/s Jadovji Virji Desai and Shri Gordhandas

Bhagwandas were considered and it was resolved to confirm the permission

given to Shri Gordhandas Bhagwandas as a Representative Member of M/s

Jadovji Virji.

9. The letters dated 25-1-74 of S/Shri Shivdas Thakersi and Jayantilal

Jeshinglal for registering the claim of Rs.25000/- Shri Jayantilal Jesinglal

against the membership right of Shri Shivdas Thakarsi were considered and

the matter was postponed.

10. Resolved that Thursday, 21-3-74 should be fixed as the day for election of

the Governing Board for the year 1974-75.


Gulabchand M.Shah nominating Shri Sumantrai Gulabchand Shah as a

member of the Exchange in the place of the late Shri Gulabchand Shah was

considered and after interviewing Shri Sumantrai Gulabchand Shah and his

recommenders S/Shri V.K. Nanavati and Dipchand L.Taswala it was resolved

by 11 votes in favour and none against to elect Shri Sumantrai Gulabchand

Shah as a member of the Exchange in the place of the late Shri Gulabchand

M. Shah subject to the Rules and Regulations of the Exchange.

12. The application dated 6-2-74 of Shri Jagmohan Jhunjhunwala nominating

Shri Sham Chunilal Navander as a member of the Exchange in his own place

was considered and after interviewing Shri Shyam Chunilal Navander and

his recommenders S/Shri Chandratandas Bagri and D.K. Chowdhary it was

resolved by 10 votes in favour and 1 against to elect Shri Shyam Chunilal

Navander as a member of the Exchange in the place of Shri Jagmohandas

Jhunjhunwala on the condition that within one month he should end his

partnership in M/s Tak Construction and M/s Steel Products and should not

do business in the market in his own name until 15-11-75.

13. The application dated 8-1-74 of Shri Madhukar Atmaram Pandit nominating

Shri Basudev Hanumantprasad Pasari as a member of the Exchange in his

own place was considered and after interviewing Shri Basudev

Hanumantprasad Pasari and his recommenders S/Shri M.M. Loyalka and

Arvind Chimanlal Dalal it was resolved by 11 votes in favour and none

against to elect Shri Basudev Hanumantprasad Pasari as a member of the

Exchange in the place of Shri Madhukar Atmaram Pandit subject to the


14. It was noted that the Engineering Construction Corporation Ltd., has taken

over the work of the new building in its own hands by mutual arrangement

with M/s Shapoorji Palonji and Co. (Pvt)Ltd. It was resolved that the offer of

Engineering Construction Corporation Ltd., to the abovementioned work

after making suitable changes in the rates for construction of the remaining

super structure mentioned in the work order dated 11-2-74 in respect of

their tender for the core of the new building should be accepted and the

work should be given to them. Further, it was noted that tenders for

plumbing work, electricity work and lifts have been issued.

15. Government’s letter dated 28-1-74 regarding underwriting was read and

noted.

16. The letter dated 12-1-74 of Shri Jivanlal Motilal requesting to sell the

membership right of the late Shri Bhaidas Gulabchand and to give its sale

proceeds to Shri Jivanlal Motilal and his brothers Shri Ranjitlal Motilal was

considered and it was resolved that subject to the approval of the General

Body, the membership right of the late Shri Bhaichand Gulabchand should

be sold and the sale proceeds should be distributed in equal shares between

S/Shri Jivanlal Motilal and Ranjitlal Motilal.

17. The listing application of Hindustan Sugar Mills Ltd., was considered and it

was unanimously resolved to confirm the admission of its bonus shares to




Regulations and compliance with the other special requirements stipulated

by us the undermentioned securities should be included in our list of Non-

Cleared Securities and dealings therein should be made in the lots noted

against them:

Whitco Ltd. Equity 50 shares

Whitco Ltd. Preference 5 shares

Bhoruka Finance Co. Equity 50 shares

Tirpene Industries Ltd. Equity 50 shares

Ipco Packaging Ltd. Equity 50 shares

Gaugavate Sugars Ltd. Equity 50 shares

Gaugavate Sugars Ltd. Preference 5 shares


Friday,15-3-74

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Seth Phiroze J. Jeejeebhoy Seth B.M. Gandhi Seth Mathradas Samaldas Seth B.N. Khandelwal Seth Rasiklal Maneklal Seth Navinchandra C. Kampani Seth Jasvantlal Chhotalal Seth Vasantlal Champaklal Seth J.R. Motishaw Seth Ashokkumar G. Fozdar

Government Nominees Shri M.C. Bhatt Shri M.R. Mayya

The following business was transacted in the meeting: 1. At the start of the meeting, the President welcomed Shri M.C. Bhatt and

introduced him to the members of the Board.

2. Resolved that the notices mentioned against the names of the

undermentioned companies regarding cum-right and ex-right transactions in


1. Everest Refrigerants Ltd. Notice No: 336/74 dt. 20-2-74

2. Premier Tyres Ltd. Notice No: 358/74 dt. 22-2-74

3. Modi Spg. & Wvg., Mills Co.Ltd Notice No: 407/74 dt. 2-3-74

4. The Travancore Electro Chemical Industries Ltd. Notice No:412/74

dt. 4-3-74

5. Adarsha Chemicals & Fertilisers Ltd. Notice No: 468/74 dt. 13-3-74


undermentioned companies regarding permission given for dealing in Letters

of Renunciation of their new shares are confirmed:

1. The Standard Batteries Ltd. Notice No: 375/74 dt.26-2-74

2. Zandu pharmaceutical Works Ltd. Notice No: 382/74 dt.27-2-74

3. Vidia India Ltd. Notice No: 397/74 dt.1-3-74


1. Notice No: 385/74 dt.27-2-74 regarding continuation of cum-

dividend transaction in the shares of the Phalton Sugar Works Ltd.,

and Notice No: 438/74 dated 9-3-74 regarding making the

transactions ex-dividend in those shares.

2. Notice No: 396/74 dated 1-3-74 regarding permissibility of delivery

of bonus equity shares of the Maharashtra Sugar Mills Ltd., against

its old equity shares.

3. Notice No: 413/74 dt. 13-2-74 regarding permission given for

dealing in coupons of the bonus equity shares of Jayant Paper Mills

Ltd.

5. The applications fro help of the undermentioned institutions were considered

and it was resolved to give each of them a donation of Rs.1010/- from the

Association Fund.

6. The letter dated 4-3-74 of S/Shri Jehangir Dorabji Kurana and Bomi Erach

Chesson regarding separation of Bomi Chesson from the partnership firm of

M/s Dorabji Framji was read and taken note of.

7. The application dated 13-3-74 of S/Shri Durgashankar Udayram Shukla,

Pravinchandra Durgashankar Shukla and Maheshkumar Durgashankar

Shukla for partnership amongst them was read and it was resolved to

approve their partnership under the firm name of M/s D.V. Shukla.

8. The application dated 13-3-74 of Bai Manorama Pandurang, widow of our

late sepoy pandurang G. Kurup for giving here help for the expensies for

medical treatment of the late Pandurang G. Kurup during his sickness and

the expenses for post death ceremonies was considered and it was resolved

that over and above the help of Rs.300/- given earlier in that respect an

additional help of Rs.100/- should be given from Seth K.R.P.Shroff Stock


9. The applications for loans of the undermentioned persons of our office staff

was considered and it was resolved to give each of them a loan of the

amount mentioned against his name below:

Shri A.B. Desai Rs.1000/-

Watchman Jitsingh Padamsingh Rs. 1500/-

Sepoy Balkrishna Shinde Rs. 700/-

10. The letter dated 14-3-74 of S/Shri Ram U. Advani, Sunder U. Advani and

Inder U. Advani were considered and it was resolved to give permission to

Shri Ram U. Advani to continue the business of late Shri B.U. Advani for a

period of three months.

11. The letter dated 9-3-74 of Shri Shirish Dave was read and it was resolved to

give him permission to continue the business of late Shri Chimanlal Maneklal

Dave for a period of 3 months.

12. The application of Shri Chimanlal Maneklal Dave dated 10-11-73 nominating

Shri Shirish Chimanlal Dave as a member of the Exchange in his own place

was considered and after interviewing Shri Shirish Chimanlal Dave and his

recommenders S/Shri Prabhudas Liladher and Nagindas Pranjivandas it was

resolved by 12 votes in favour and none against to elect Shri Shirish

Chimanlal Dave as a member of the Exchange in the place of Shri Chimalal

Maneklal Dave, subject to the Rules and bye-laws of the Exchange.

13. RESOLVED THAT subject to the approval of the Central Government the

following amendments be and are hereby made in the Rules contained in

the Stock Exchange Rules, Bye-laws and Regulations, 1957.

In Rule 93(a), after the words “investment of Trust funds”, the words “or

with the permission of the Central Government in Equity or Preference

shares of any joint stock company” shall be added. In clause (v) of Rule 121

after the words “investment of trust funds” the words “or with the

permission of the Central Government in Equity or preference shares of any

joint stock company” shall be added.

14. Government letter dated 28-1-74 relating to the matter of appointment of

Issue Managers and underwriters and the letter dated 11-3-74 of Enamelled

Wires Ltd., regarding appointment of DEL Finance Corporation which is

prepared to give a bank guarantee were considered and it was decided that

apart from the public financial institutions, banks, and members of

recognised Stock Exchanges, only such investment companies and trusts

which are listed as also Investment Corporation of India, Industrial

Investment Trust and others like them which may be approved by the

Chairman, experienced and financially sound should be given permission for

appointment as underwriters.

15. Government’s letter dated 19-1-74 regarding listing of equity shares allotted

to Public Financial Institutions in lieu of loan/bonds/ debentures was

considered. It is desirable to offer 60% of such convertible bonds and

debentures to public. But, as such shares are being issued according to the

Government guidelines it was resolved to write to the Government that if

they desire, there will be no objection in considering such shares eligible for

listing by waiving listing requirements on condition that 25-30% of such

shares are offered to the public by public offer at the same price at which

they have been issued.

16. The listing applications of the undermentioned were considered and it was

unanimously resolved to confirm admission of their respective securities

mentioned against their names to the list of securities traded on the

Exchange:

Sandwic Asia Ltd. Bonus Equity

Gokak Patel Walcart Ltd. 36545 new equity shares allotted to shareholders

of Gokak Patel Walcart Ltd.

Modella Woollens Ltd. Bonus Equity

J.K.Synthetics Ltd. Bonus Equity

Jayshree Tea & Industries Ltd. Bonus equity

Andhra Steel Corporation Ltd. New equity.





respective names should be admitted to our list of Non-cleared securities list

traded on the Exchange and their transactions should be made in the lots

specified against them:

Bata India Ltd. Equity 50 shares

Haryana Steel & Alloys Ltd. Equity 50 shares

Haryana Steel & Alloys Ltd. Preference 5 shares

Sadhana Nitro Chemicals Ltd. Equity 50 shares

Sadhana Nitro Chemicals Ltd. Preference 5 shares

The State Industrial and Investment Corporation of Maharashtra Ltd. – 6%

bonds 1986 (a series) Rs.1000/-.

18. The letter dated 19-2-74 of the Suplex Mills Co.Ltd., was read and it was

unanimously resolved that the 61/2% of 1969-74 debentures should be

removed from our list of securities traded on the Exchange as they are

being redeemed.

19. Resolved that S/Shri jayantilal Mansukhlal, Champaklal Balubhai Mafrfatia

and Nagindas Trambaklal Parekh should be appointed as scrutineers for

scrutinise of the ballot papers and declaring the result of the election of the



Thursday, 25-04-1974

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Mathuradas Samaldas in the beginning and thereafter under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Seth Phiroze J. Jeejeebhoy Seth B.M. Gandhi Seth Mathradas Samaldas Seth B.N. Khandelwal Seth Rasiklal Maneklal Seth Navinchandra C. Kampani Seth Jasvantlal Chhotalal Seth Vasantlal Champaklal Seth J.R. Motishaw Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Chotalal Devchand Seth Purshottam Gopiram Ruiya

Government Nominees Shri. M.C. Bhatt Shri. M.R. Mayya

Shri. S. Rajgopalan


1. Proposed by Seth Jayant Amerchand and seconded by Seth Rasiklal

Maneklal, Seth Mathradas Samaldas was unanimously elected as the

Chairman of today’s meeting

2. Proposed by Seth Mathradas Samaldas and supported by Seth Rasiklal

Maneklal, Seth Jayant Amerchand was unanimously elected as the

President. Seth Jayant Amerchand thanked all the members of the Board

for having reposed their faith in him. He congratulated Seth Purshottam

Gopiram Ruiya for being elected to the Board and welcomed him

expressing a sense of gratitude for the support and co-operation extended

by all the members of the Board and Government nominees last year, He

expressed the hope that during the current year also they will continue to

give support and co-operation in the same way.

3. Proposed by Seth Rasiklal Maneklal and supported by Seth Purshottam

Gopiram Ruiya, it was unanimously resolved to elect Shri Mathradas

Samaldas as the Vice President

4. Proposed by Seth Rasiklal Maneklal and supported by Seth J.R. Motishaw, it

was unanimously resolved to elect Seth Vasantlal Champaklal as the Hon.

Treasurer

5. Resolved that Sir Shapurji Broadia, Brokers Helping Fund Committee be

appointed consisting of Seth J.R. Motishaw, Seth Mathradas Samaldas,

Seth Vasantlal Champaklal and Dhirajlal Manganlal

6. Resolved that the undermentioned persons be appointed as members of

the Arbitration Committee for the year 1974-75

Shri. Keki N. Chinoy Shri. S. M. Shah

Shri Jayantilal M. Dalal Shri. Nagindas Trambuklal

Shri. Champaklal Babubhai Marfatia Shri. V. K. Nanavate

Shri. M. L. Kaji Shri. Jayendra D. Mehta

Shri. L.N. Kapadia Shri. H. N. Sonawala

Shri. D.U. Shukla Shri. Rasiklal S. Jhaveri

Shri. Hariram Dwarkadas Shri. Govindbhai B. Amin

Shri. Bhgubhai Amithalal Gandhi Shri. Jitendra Champklal

Mashruwala

At this point of time Shri. B.M. Gandhi arrived and joined the meeting

7. Resolved that the Defaulter Committee for the year 1974-75 should be

appointed consisting of the undermentioned members

Shri. J. R. Motishaw Shri. Keti N. Chinoy

Shri. Vasantilal Champaklal Shri. Jayantilal Mansuklal Dalal

Shri. Vasantlal Kantilal Shah Shri. Rasiklal S. Jhaveri

8. Resolved to appoint the Building Committee consisting of the

undermentioned members

Shri. Mathurdas Samaldas Shri. Jaswantilal Chhotalal

Shri. J. R. Motishaw Shri. Govardhandas Bhagwandas

Shri. Laldas Yamunadas Shri. Dhirajlal Maganlal

Shri. Rasiklal Maniklal Shri. Vasantlal Kantilal Shah

9. Resolved that cheque be signed by the President Shri Jayant Amerchand of

the Chirman Shri P. J. Jeejeebhoy, or the Vice President Shri Mathradas

Samaldas, or thr Hon. Treasurer Shri Vasantlal Champaklal and any one of

the following seven members of the Governing Board namely Shri Rasiklal

Maneklal, Shri Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri

B. M. Gandhi, Shri Vasantlal Kantilal Shah , Shri Jasvantlal Chhoatalal and

Shri A. R. Mahadevia and be countersigned by the Secretary Shri A. J.

Shah.

10. Resolved that the various Current Accounts and Safe Custody Accounts of

the Exchange with Bank of India be operated on jointly by the President,

Shri Jayant Amerchand, of the Chairman Shri P. J. Jeejeebhoy, or the Vice

President Shri Mathradas Samaldas, or of the Hon. Treasurer Vasantlal

Champaklal and by any one of the following seven members of the

Governing Board, namely Shri Rasiklal Maniklal, Shri Navinchandra C.

Kampani, Shri Hiralal Girdharial, Shri B. M. Gandhi, Shri Vasantlal Kantilal

Shah, Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be

countersigned by the Secretary Shri A. J. Shah

11. Resolved that the Current Accounts and Safe Custody Accounts with Bank

of India in the name of the Stock Exchange Sroff Provident Fund and The

Stock Exchange Shroff Gratuity Fund be operated on either by any two of

the Trustees of the Exchange for the time being or the survivors or survivor

of them or jointly by the Hon Treasurer, Vasantlal Champaklal and any one

of the following seven members of the Governing Board, namely, Shri

Rasiklal Maniklal, Shri Navinchandra C. Kampani, Shri. Hiralal Girdharlal,

Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah, Shri Jasvant Chhotalal, and

Shri A. R. Mahadevia and be countersigned by the Secretary Shri A. J.

Shah.

12. It was noted that the Electronic Equipment purchased from Electronic

Corporation of India Ltd. at a price of approximately Rs. 15 Lakhs has

arrived and resolved that a loan should be taken from Bank of India in that

connection and needful should be done

13. Resolved that the notices regarding cum-right and Ex-right transactions in

the shares of the Companies mentioned below against their names should

be confirmed:

1. Hindustan Wires Ltd.- Notice No. 530/74 dated 19-3-1974

2. T. Maneklal Manufacturing Co. Ltd. – Notice No. 606/74 dated 28-3-

1974

3. Chougule Steamship Ltd. – Notice No. 700/74 dated 11-04-1974

4. Sardedai Brothers Ltd. – Notice No. 738/74 dated 18-04-1974

5. First (India) Steel Co. Ltd. Notice No. 761/74 dated 22-04-1974

14. Resolved that the Notices regarding deliverability of the new shares of the

Companies against their old shares mentioned against their names below


1. Silvania & Laxman Ltd. – Notice No. 568/74 dated 25-03-1974

2. Bilaspur Spg. Mills and Industries Ltd. – Notice No. 607/74 dated

28-03-1974

3. Somani Steels Ltd. – Notice No. 623/74 dated 30-03-1974

4. Mirch Merey Ltd. – Notice No. 731/74 dated 17-04-1974

5. Swan Mills Ltd. – Notice No. 766/74 dated 23-04-1974

15. Resolved that the notices giving permission to deal in letters of

renunciation of their new shares of the Companies mentioned against their

names below should be confirmed:

1. Everest Refrigerator Ltd. – Notice No. 488/74 dated 16-03-1974

2. Asian Electronics Ltd. – Notice No. 494/74 dated 16-03-1974

3. W. S. Insulators of India Ltd. – Notice No. 528/74 dated 19-03- 1974

4. The Travancore Electro-Chemicals Industries Ltd. – Notice No. 637/74

dated 01-04-1974

5. Heiks Thermometers India Ltd. – Notice No. 664/74 dated 05-04- 1974

6. Adarsh Chemicals Fertilisers Ltd. – Notice No. 736/74 dated 18-04-

1974


1. The Notice No. 715/74 dated 15-04-1974 regarding making of the

transaction in the shares of the Ahmedabad Electricity Co. Ltd. Ex-dividend

from 26-04-1974

2. The Notice No. 726/74 dated 26-04-1974 for not doing transaction in

the shares of Haryana Coated Papers Ltd.

17. Resolved that the arrangements regarding, the conditions relating to the

BEST Electric Sub- station for our new building and giving on lease the

required space should be approved and whatever else needful is required

to be done should be done.

18. It was resolved as under regarding the tender for the working of our new

building:

A) Plumbing: From the tenders of Bombay & Co. for approximately

Rs. 17,07,000/- and from M/s. Nipa Sanitation of approximately Rs.

16,62,000/-, the tenders of M/s. Bombay & Co. has been accepted

which should be approved

B) Electric Installation: From the tenders of M/s. Shah Electric Co. of

approx Rs. 22, 76, 000/- and of Engineering Construction Co. of

approx Rs. 24,57,000/-, the tender of M/s. Shah Electric Company

has been accepted which should be approved.

C) Lifts: The tender of M/s. Otis Elevators Co. (India) Ltd. Of approx

Rs. 45,31,000/- for eight lifts should be accepted.

19. The application for help of Shipoxi Sikshan Prasarak Mandal was considered

and it was resolved to give it a donation of Rs. 251/- from the Stock

Exchange Education and Research Services

20. The application dated 27-03-1974 of Shri. T.G. Babu of our office for giving

him assistance towards the medical expenses incurred by him during his

sickness was considered and it was resolved to give him help of Rs. 400/-

from the “ Seth KRP Shroff Stock Exchange Sarvajanik Fund”

21. The application for loans of the undermentioned persons of our office staff

were considered and it was resolved to give each of them a loan of the

amount mentioned against his names:

Shri. S.M. Davda Rs. 2,000/-

Shri V. T. Manjrekar Rs. 2,000/-

Shri. M. K. Shivraman Rs. 1,000/-

Sepoy Vijay Narayan Rs. 500/-

Sepoy Madhukar Bhiwa Rs. 1,500/-

Bhat Chhogaram Gangaram Rs. 200/-

22. The application dated 19-04-1974 of Shri. K. Ambujakshana for giving him

assistance of the fees of Rs. 300/- for the Punch Operating Course of

Davar’s College of Commerce was considered and it was resolved to give

him that much amount from Shri. M.C. Mehta Smarak Fund

23. The application of M/s. Narendradas and Sons for giving them extension of

time for filing an appeal against the decision of the lower bench of the

Arbitration Committee in the dispute between M/s. Chimanlal Mohanlal and

M/s. Narandas & Sons was considered and it was resolved to give them an

extension of time upto 04-05-1974 for filing the appeal.

24. The letter dated 01-04-1974 of Shri. Purshottam Mahavir Prasad Rungta

and Satyanarayan Bhuramal was read and it was noted that Shri.

Satyanarayan Bhuramal had separated form the firm of M/s. Mahavir

Prasad Badridas with effect form 30-03-1974

25. The undermentioned partnership were approved:



M/s. D. A. Shah & Sons

1. Shri. Dolatrai Amratlal Shah 2. Shri. Pankaj Dolatrai Shah

01-04- 1974

M/s. Natwarlal & Sons 1. Shri. Prabvinchandra Natwarlal 2. Shri. Navinchandra Natwarlal

01-04- 1974

26.

The letter dated 26-03-1974 of Shri. Dipchand L. Tasvala and M/s. G.M.

Shah were read and it was resolved to confirm the permission given to M/s.

G.M. Shah to do business as a representative member of Shri. Dipchand L.

Tasvala

27. Bai Taramati Bhaichand and Shri. Chandravadan Bhaichand Muchhala and

Ajit Bhaichand Muchhala’s letter dated 22-04-1974 was considered and it

was resolved to give permission to Shri. Chandravadan Bhaichand and Ajit

Bhaichand to continue the business of the late Shri. Bhaichand Juiraj

Muchhala for a period of three months.

28. The letter dated 19-03-1974 of Shri. Dinesh Valji was read and it was

resolved to give him permission to continue the business of M/s. Valji

Bhimji for a period of three months

29. The application dated 14-03-1974 of Shri. Lalitkumar Ramanbhai Sheth

nominating Shri. Manharlal Ramanlal Balubhai Parekh as a member of the

Exchange in his own place was considered and after interviewing Shri.

Manharlal Balubhai Parekh and his recomders Shri Angiras Bhogilal Mehta

and Govindbhai B. Desai it was resolved by 13 votes in favour and none

against to elect elect Shri. Manharlal Balubhai Parekh as a member of the

Exchange, subject to the Rules, Bye Laws and Regulation of the Exchange.

30. The application dated 28-03-1974 of the near relative of late Shri. Valji

Bhimji nominating Shri. Dinesh Valji as a member of the Exchange in the

place of the Late. Shri Valji Bhimji was considered and after interviewing

Shri. Dinesh Valji and his recommenders Shri. K. Kheswala and Manek H.P.

Byramji it was resolved by 9 votes in favour and 4 against to elect Shri.

Dinesh Valji Jeshram as a member of the Exchange in the place of the Late

Shri. Valji Bhimji Jeshram, subject to the Rules and Regulations of the

Exchange on the condition that he should not do business in the market in

his own name and even thereafter he should not do business in the market

in his own name without obtaining prior permission of the board.

31 The application dated 06-03-1974 of the near relatives of the Late Shri.

Vithaldas Pitambar nominating Shri. Pravinchadra Vithaldas as a member

of the Exchange in the place of the Late Shri. Vithaldas Pitambar was

considered and after interviewing Shri. Pavinchandra Vithaldas and his

recommenders Shri. N.C. Lodhiwala and Vinay Chandra Narbheram Parekh

it was resolved by 12 votes in favour and 1 against to elect Shri.

Pravinchadra Vittaldas as a members of the Exchange in the place of the

Late Shri. Vithalda Pitamber, subject to the Rules and Regulations of the

Exchange on the condition that he will not do business in the market in his

own name without obtaining the permission of the Board.

At this point of time Shri. Mathurdas Samaldas left the meeting.

32. The application of the near relative of the Late Shri. Sagarmal R. Loyalka

nominating Shri. Purshottam S. Loyalka as a member of the Exchange in

the place of the Late Shri. Sagarmal R. Loyalka was considered and after

interviewing Shri. Purshottam S. Loyalka and his recommenders Shri. B.P.

Rungta and Shri. G.D. Bagre it was resolved by 11 votes in favour and 1

against to elect Shri. Purshottam S. Loyalka as a member of the Exchange

in the place of the Late Shri. Sargarmal R. Loyaka subject to the Rules and

Regulations of the Exchange.

33. The letter dated 25-01-1974 of Shri. Jayantilal Jeshinglal and the letters

dated 25-01-1974 and 11-01-1974 of Shri. Shivdas Thakarsi were

considered and it was resolved to note the claim of Rs. 15,000/- of Shri.

Jaynatilal Jeshihglal against the membership right of Shri. Shivdas Thakarsi

34. The Letters dated 14-03-1974 and 10-04-1974 of the United Commercial

Bank Ltd. And the National Newsprint and Paper Mills Ltd. Respectively

were considered and it was unanimously resolved to remove their shares

from our list of securities traded on the Exchange as they do not wish to

continue their shares in our list of securities traded on the Exchange.

35. The listing applications of the undermentioned Companies were considered

and it was unanimously resolved to confirm listing of their below mentioned

securities for trading on our Stock Exchange:

The Ahmedabad Advance Mills Ltd. New Equity

Jayant Paper Mills Ltd. Bonus Equity

Raymond Woollen Mills Ltd. Bonus Equity

Rallis India Ltd. 93,000 New Equity shares allotted to the shareholders of Tata Fison Industries Ltd.

36. The listing application of the undermentioned Companies were considered


Regulations as well as compliance with the usual requirements and other

special requirement stipulated by us, their below mentioned securities

should be admitted to our list of Non Cleared Securities and transactions in

these securities should be done in the lots mentioned against them.

Oriental Hotels Ltd. Equity 50 Shares

Oriental Hotels Ltd. Preference 5 Shares

Enamelled Wires Ltd. Equity 50 Shares

Gujarat Mines Steel Ltd. Equity 50 Shares

Ram Keshav ispat Ltd. Equity 50 Shares

Trade Wings Ltd. Equity 50 Shares

Deccan Farms and Distillers

Ltd.

Equity 50 Shares

Milk Food Ltd. Equity 50 Shares

Hess Ltd. Equity 50 Shares

Dynamatic Hydrolics Ltd. Equity 50 Shares

City 2 Industrial Development 7.25 % Debentures Rs. 1000/-

Corporation of Maharashtra Ltd.

1989

Maharashtra Holeship Board 6% Debentures 1984

and 1985

Rs. 1000/-

Andhra Valley Power Supply Co. Ltd.

8 ½ % 5th Debentures Rs. 1000/-

The Tata Hydro Electric Power Supply Co. Ltd.

8 ½ % 4th Debentures Rs. 1000/-

Tata Powers Company Ltd. 8 ½ % 6th Debentures Rs. 1000/-

37.

“Resolved that the following amendments be made in Appendix B to

Regulation 2 of the Stock Exchange Rules, Bye-laws and Regulations,

1957:

In sub-clause ( c) of clause 3 for the words “renewal or exchange”, the

words “renewal, exchange or endorsement of calls” shall be substituted;

and after the words “Pucca Transfer Receipts”, the words “in denominations

corresponding to the market units of trading” shall be added.

In clause 4 in sub-clause (c ), for the words “Consolidation, Renewal and

Pucca Transfer Receipts”, the words “Consolidation and Renewal Receipts”

shall be substituted; and for sub-clause (e), the following shall be

substituted, namely:

“(e) to issue call notices and splits and duplicates thereof in a standard

form acceptable to the Exchange, to forward a supply of the same promptly

to the Exchange for meeting requests for blank split and duplicate call

notices, to make arrangements for accepting call moneys at all centres

where there are recognised stock exchanges and not to requires any

discharge on call receipts”

In sub-clause (d) of clause 31, for the full stop at the end, a semi-colon

shall be substituted; and after the said sub-clause (d), the following new

sub-clause (e) shall be inserted, namely:

“(e) three copies of all notices, circulars, etc. issued or advertised in the

press either by the Company, or by any company which the Company

proposes to absorb or with which the Company proposes to merge or

amalgamate, or under orders of the Court or any other statutory authority

in connection with any merger, amalgamation, re-construction, scheme or

arrangement, including notices, circulars, etc. issued or advertised in the

press in regard to meetings of shareholders or debenture holders or

creditors or any class of them and copies of the proceedings at all such

meetings.”

For Schedule II, the following shall be substituted, namely:

“Schedule of Listing Fees”

1.INITIAL LISTING FEE … Rs.1,000

2. ANNUAL LISTING FEE :

Companies on the Cleared Securities List … Rs. 3,000

Other Companies with paid-up shares and/or debenture capital

Under Rs. 10 lakhs … Rs. 300

From Rs.10 lakhs but under Rs. 25 lakhs … Rs. 500

From Rs. 25 lakhs but under Rs. 50 lakhs … Rs.1000

From Rs. 50 lakhs but under Rs. 1 crore … Rs. 1500

From Rs. 1 crore but under Rs. 5 crores … Rs.2500

Rs. 5 crores and over …. Rs.3000”

38. Resolved that a Notice should be issued as under:

1) “ As directed by the Governing Board all the members of the

Exchange are hereby informed that if any company has declared in

the Prospectus that it will make an application to our Exchange for

listing, then so long as the shares of such company are not listed on

our Exchange members cannot do business in the shares of that

Company in the market among themselves, even though permission

might have been given to do business in those shares on any other

stock exchange.

2) If any Company has made a declaration on its Prospectus about

making a listing application on any other Stock Exchange and not

ours, then members will be free to do business in such shares only

after they are listed on that Exchange and no transactions in such

shares should be made prior to that.

3) Members are specially warned that if any member is hereafter found

to have done business in new shares otherwise than as above he

will be liable to severe punishment”

Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President

Dt: 2-7-74

Tuesday, 2-7-1974

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Jivanlal Seth B.M. Gandhi Seth Vasantlal Kantilal Shah Seth Chotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Purshottam Gopiram Ruiya

Government Nominees Shri. M.C. Bhatt Shri. M.R. Mayya

Shri. S. Rajgopalan

The following business was transacted in the meeting: 1. Resolved that the notices mentioned against the names of the

undermentioned Companies regarding cum-right and Ex-right transactions

in their shares are confirmed:

1. Unicorn Tyres Ltd. Notice No. 841/74 dated 30-04-74

2. Warver Hindustan Ltd. Notice No. 849/74 dated 02-05-74

3. Indo-Burma Petroleum Co. Ltd. Notice No. 851/74 dated 04-05-74

4. J.L. Morison Son and Jones (India) Ltd. Notice No. 864/74 dated 04-05-74

5. Century India Ltd. Notice No. 910/74 dated 11-05-74

6. Modi Rubber Ltd. Notice No. 980/74 dated 20-05-74

7. Dalmia Cement (Bharat) Ltd. Notice No. 988/74 dated 21-05-74

8. Automobile Products of India Ltd. Notice No. 1020/74 dated 24-05-74

9. Crompton Greaves Ltd. Notice No. 1038/74 dated 27-05-74

10. The Tata Mills Ltd. Notice No. 1188/74 dated 19.08.74

11. Navsari Cotton and Silk Mills Ltd. Notice No. 1204/74 dated 21-06-74

12. I.T.C. Ltd. Notice No. 1225/74 dated 25-06-74


undermentioned Companies regarding deliverability of their new shares

against old shares are confirmed:

1. The Jaybharat Credit and Investment

Co. Ltd.

Notice No. 852/74 dated 4-

05-74

2. Kamani Engineering Corporation Ltd. Notice No. 923/74 dated 13-

05-74

3. Andhra Steel Corporation Ltd. Notice No. 961/74 dated 17-

08-74

4. The Bharat Rayon Corporation Ltd. Notice No. 1010/74 dated

23-05-74

5. Ahmedabad Advance Mills Ltd. Notice No. 1112/74 dated

07-06-74


undermentioned Companies regarding the permission given for dealing in

letters of Renunciation and confirms of the new shares are confirmed.

1. Unicorn Tyres Ltd. Notice No. 1135/74 dated 11-06-74

2. J. L. Morison, sons and

Jhones (India) Ltd.

Notice No. 1148/74 dated 14-06-74


undermentioned companies regarding permission given for dealing in

coupons of their bonus shares are confirmed:

1. Bharat Bijlee Ltd. Notice No. 814/74 dated 27-04-74

2. T. Maneklal Manufacturing

Co. Ltd.


5. The application for help of India Red Cross Society dated 03-06-74 was

considered and it was resolved to give it an assistance of Rs. 101 from the

Association Fund.

6. The application dated 19-04-74 of Sarvodaya Arogya Nidhi for giving help to

“Shri. Maneklal Nathalal Vakharia Sarvodaya Arya Hospital” was considered

and it was resolved to give help of Rs. 5,000/- for that from Sheth K.R. P.


7. The application dated 07-06-74 of our Chief Statistical Officer to give him a

loan of Rs. 18,000/- for purchasing a Motor Car was considered and it was

resolved to give him the said loan.

8. The appliacation dated 6-6-74 of our sweeper Kharecha Dhureram was

considered and it was resolved to give him a loan of Rs. 1,400/-

9. The application dated 30-04-1974 of Shri N.M. Ali for giving him an

assistance of Rs. 300/- for doing a fund operating course was considered

and it was resolved to give him an assistance of that amount from M.C.

Mehta Smarak Fund.

10. The application dated 19-06-74 of Bai Manorama Pandurang Kurup, widow

of our late sepoy Shri Pandurang Gopal Kurup was considered and it was

resolved to pay her the amount of Rs. 6,804/56 accumulated in the

Provident Fund of Sepoy Pandurang Gopal Kurup and the amount of the

gratuity of Rs. 6,850/-

11. The letter dated 24-05-74 of S/Shri Laxmidas Thakar Kothari and Kaushik

Laxmidas Kothari was considered and it was noted that Shri kaushik

Laxmidas Kotahri had separated from the partnership firm of M/s. Kothari &

Co.

12. The application dated 24-06-74 for a partnership between S/Shri

Tribhuvandas Mulchand Gandhi and Dhanesh Tribhuvandas Gandhi was

considered and it was resolved to approve their partnership under the firm

name of M/s. Tribhovandas M. Gandhi with effect from 01-06-74

13. The letter of the undermentioned members were read and it was resolved to

confirm the permission given to them to do business as Representative

Members:


M/s. Narbheram Harakchand Shri Pravinchnadra Vithaldas

M/s. Lewis & Jones M/s. Valji Bhimji & Co.

14. The application dated 18-05-74 of M/s. Mohanlal Nagardas & Co. for giving

them extension of time for filing an appeal against the decision of the lower

bench of Arbitration Committee in the dispute between M/s. Chimanlal

Maneklal Dave and M/s. Mohanlal Nagardas & Co. was considered and it was

resolved to give M/s. Mohanlal Nagrdas & Co. time upto 10-07-74 for filing

an appeal in that matter

15. The letter dated 27-5-74 of S/shri Ram V Advani was considered and it was

resolved to give Shri Ram V. Advani two months more time for continuing

the business of Late Shri B. V. Advani

16. The letter dated 26-3-74 of Shri Vinitkumar P. Parikh asking for permission

to do business in the market in his own name was considered and it was

unanimously resolved to give him such permission.

17. The application dated 18-4-74 of Shri Kantilal Hiralal Choksi nominating Shri

Hasmukhlal Maneklal Shah as a member of the Exchange in his own place

was considered and after interviewing Shri Hasmukhlal Maneklal Shah and

his recommenders S/Shri. Navalchand Tarachand Shah and Arvind C Dalal it

was resolved by 14 votes in favour and none against to elect Shri

Hasmukhlal Maneklal Shah as a member of the Exchange in the place of

Shri Kantilal Hiralal Choksey subject to the Rules and Regukations of the

Exchange.

18. The application dated 7-6-74 of Shri Tribhuvandas Mulchand Gandhi

nominating Shri Dhanesh Tribhovandas as a member of the Exchange in his

own place was considered and after interviewing Shri Dhanesh Tribhovandas

Gandhi and his recommenders S/Shri B.T. Parekh and Vrijlal Lallubhai it was

resolved by 14 votes in favour and none against to elect Shri Dhanesh

Tribhovandas Gandhi as a member of the Exchange in the place of Shri

Tribhovandas Mulji Gandhi, subject to the Rules and Regulations of the

Exchange.

19. The application dated 12-06-74 of Shri Nanalal Vadilal nominating Shri

Mithalal Somchand Shah as a member of the Exchange in his own place was

considered and after interviewing Shri Mithalal Somchand Shah and his

recommenders S/Shri Vrijalal Lallubhai and N. P. Shah it was resolved by 14

votes in favour and none against to elect Shri Mithalal Somchand Shah as a

member of the Exchange in the place of Shri Nanalal Vadilal subject to the

Rules and regulations of the Exchange.

20. The applications dated 4-6-74 of the near relatives of the late Shri

Mansukhlal Lallubhai as a member of the Exchange in the place of the Late

Shri Mansukhlal Lallubhai was considered and after interviewing Shri

Lallubhai Nagardas and his recommenders S/Shri Chhaganlal Nagardas and

Jayantilal R. Khandwala it was resolved by 14 votes in favour and none

against to elect Shri Ramdas Lallubhai as a member of the Exchange in the

place of the Late Shri Mansukhlal Lallubhai, subject to the Rules and


21. The application dated 10-06-74 of the near relatives of Late Shri Girdharlal

Gulabchand nominating Shri Maganlal Ladhabhai Parekh as a member of the

Exchange in the place of the Late Shri Girdharlal Gulabchand was considered

and after interviewing Shri Maganlal Ladhabhai Parekh and his

recommenders S/Shri Jitendra Champaklal Mashruwala and G. R. Pandya, it

was resolved by 14 votes in favour and none against to elect Shri Maganlal

Ladhabhai Parekh as a member of the Exchange in the place of Late Shri

Girdharlal Gulabchand subject to the Rules and Regulations of the Exchange

on the condition that as told by him he produced before the Chairman a

satisfactory certificate regarding payment of tax.

22. As regards the application dated 29-11-73 pf the near relatives of the Late

Shri Harisdas Jadavji nominating Shri Kalyanji Haridas in the place of the

Late Shri Harisdas Jadavji the letter dated 1-7-74 of Shri Kalyanji Haridas

Sheth withdrawing his membership application was read and noted.

23. Governments letter dated 10-05-74 regarding appointment of underwriters

was considered and the matter was postponed for further consideration.

24. Resolved that we should promote a Company named “ The Stock Exchange

Services (Pvt.) Ltd.” With a capital of Rs. 10 Lakhs and should obtain

Governments permission for taking up shares of that company upto that

much amount.

25. The letter dated 24-5-74 of the Gwalior Rayon Silk Mfg (Wvg.) Co. Ltd. Was

read and it was unanimously resolved to remove their Debentures from our

list of Securities traded on the Exchange as they are being redeemed

26. The listing applications of the under mentioned Companies were considered

and it was unanimously resolved to confirm admission of their below

mentioned securities to our list of securities traded on the Exchange:

1. The Westcoast Paper Mills Ltd. New Equity 2. The Poddar Mills Ltd. Bonus Equity 3. Jayshree Chemicals Ltd. 78,750 New Equity

shares allotted to International Finance Corporation

4. Great Eastern Shipping Co. Ltd. Bonus Equity 5. T. Maneklal Mfh. Co. Ltd. Bonus Equity 6. Colour Chem Ltd. Bonus Equity 7. Associated Bearing Co. Ltd. Bonus Equity 8. Chougule Steamship Ltd. Bonus Equity


and it was unanimously resolved that, subject to listing Rules and

Regulations, as well as compliance with the usual requirements and other

special requirements stipulated by us, their below mentioned securities

should be admitted to our list of Non-Cleared Securities and trading in those

securities should be done in the lots specified against them.

1. The Vazir Sultan Tobacco Co. Ltd. Equity 100 Shares 2. Searl (India) Ltd. Equity 50 Shares 3. Nalanda Ceramics & Industries Ltd. Equity

Preference 50 Shares 5 Shares

4. Rathi Chemicals Equity 50 Shares 5. Allied Steels Ltd. Equity 50 Shares 6. Stretch Fibres (India) Ltd. Equity 50 Shares 7. Khandwala Herman Electronics Ltd. Equity 50 Shares 8. Universal Cans and Containers Ltd. Equity 50 Shares 9. The Sandur Manganese and Iron Ltd. New Equity 50 Shares 10. The Sandur Manganese and Iron Ltd. 9.8 %

Preference Shares

5 Shares

11. Elecon Engineering Co. Ltd. New Preference

5 Shares

12. Bombay Suburban Electric Supply Ltd. New Preference

5 Shares

13. Bombay Suburban Electric Supply Ltd. ‘F’ Class Redeemable Convertible Debentures

5 Debentures

14. The Industrial Credit and Investments Corporations of India

8 ¼ % Debentures 1986

Rs. 5000

15. Firth (India) Steel Co. Ltd. 9.8 % Preference Shares

5 Shares

16. Mahindra & Mahindra Ltd. 9.8 % Preference Shares

5 Shares


Dt: 12-7-74

12-7-1974

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Girdharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Rasiklal Maneklal Seth Vasantlal Champaklal Seth Navinchandra C. Kampani Seth Vasantlal Jivatlal Seth B.M. Gandhi Seth Vasantlal Kantilal Shah Seth Chotalal Devchand Seth Laldas Jamnadas Seth Ashokkumar G. Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya

Government Nominees Shri. M.R. Mayya

The following business was transacted in the meeting: 1. The prevailing market situation was considered and it was unanimously

resolved to issue a notice as under:

“All the members as hereby informed tat the Governing Board has resolved

that with effect from Saturday 13-7-74 dealings in the market should be

done subject to the restrictions mentioned hereunder:

1. In the none of the Equity shares purchase or sale transactions can be

effected at a price lower than 7% of the official closing price of that

share as on Thursday 4-7-74. These prices will be effective till the first

Monday dt. 15-7-74 and thereafter will be reviewed.

2. Until further notified, transactions in active shares which are included in

Form No:6-7-A, shall be subject to the additional restrictions mentioned

below:

a. Jobbing type business cannot be done in the said shares.

b. In those shares sale can be effected only for squaring up the

members outstanding net purchase position after adjusting according

to the market practice. No sale can be effected beyond.

c. In those shares, purchase can be effected only upto the limit of and

for squaring up of the net outstanding sale position of the member

after adjustment according to the market practice. New purchases

can also be done in those shares over and above the purchase made

as above. However, such newly purchased shares cannot be sold

again but it will be obligatory to take delivery of such shares.

d. Spot delivery transactions of such shares can be effective.

Changes will be made in the abovementioned restrictions from time to time

as may be necessary according to the prevailing circumstances. Those

violating the restrictions will be suspended”.

2. Unanimously resolved as under:

“ Resolved that the Chairman be and is hereby authorised to exercise any of

the powers (except the power to make to, add to, vary and rescind the

Rules and Bye-laws of the Exchange and authorities of the Governing

Board”.


22-7-1974

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Jivatlal Seth B.M. Gandhi Seth Vasantlal Kantilal Shah Seth Chotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Purshottam Gopiram Ruiya


Shri S. Rajgopalan

The following business was transacted in the meeting: 1. Resolved that the notices regarding cum-right and ex-right transactions in

the shares of the undermentioned companies mentioned against their

respective names and confirmed:

1) National Standard Duncan Ltd. Notice No:1264/74 dt. 1-7-74

2) Wool Combers of India Ltd. Notice No:1297/74 dt. 4-7-74

3) Digvijay Woollen Mills Ltd. Notice No:1346/74 dt.11-7-74

4) Khandelwal Ferro Alloys Ltd. Notice No:1361/74 dt.15-7-74

5) Vickers Sperry of India Ltd. Notice No:1364/74 dt.15-7-74

6) South India Shipping Co.Ltd. Notice No:1403/74 dt.19-7-74

2. Resolved that the Notices regarding permission given for dealing in Letters

of Renunciation of the new shares of the undermentioned companies below


1) Automobile Products of India Ltd. Notice No:1284/74 dt. 3-7-74

2) Haryana Coated Papers Ltd. Notice No:1365/74 dt.15-7-74


1) The Notice No:1267/74 dated 1-7-74 regarding dividend on the shares of

Chemo Pharma Laobratories Ltd.

2) Notice No:1292/74 dated 4-7-74, 1303/ dated 7-7-74, Notices

No:1304/74, 1305/74 and 1310/74 dated 7-7-74 and No:1368/74 dated 16-

7-74 regarding changes made in the settlement programmes because of

heavy rains and disorganisation of Railway services.

3) Notice No: 1293/74 dated 4-7-74 regarding continuation of cum-dividend

transactions of the shares of “S.L.M. Maneklal Industries” and “Tata Oil Mills

Co. Ltd.”.

4) Notice No: 1287/74 dated 4-7-74 regarding keeping the market closed

on Friday 5-7-74 and keeping it open on Saturday 6-7-74 because of heavy

rains and also Notice No:1302/74 dated 6-7-74 regarding keeping the

market closed on Saturday 6-7-74 and keeping it open on Monday 8-7-74.

5) Notice No:1314/74 dated 8-7-74 directing not to do transactions in the

shares of Uttar Pradesh Hotels and Restaurants Ltd.

6) Notice No: 1360/74 dated 13-7-74 regarding keeping the market closed

on 16-7-74.

7) Notice No: 1399/74 dated 19-7-74 giving permission to deal in coupons

of the bonus shares of Amar Dyechem Ltd.

4. The application dated 7-5-74 of M/s Jasvantlal Chhotalal & Co., to give them

extension of time for filing an appeal against the decision of the Lower

Bench of the Arbitration Committee in the dispute between Shri M.M.

Upadhyay and M/s Jaswantlal Chhotalal & Co., regarding 50 shares of Philips

India was considered and it was resolved to give them extension of time for

filing an appeal upto 29-7-74.

5. The application dated 22-6-74 of M/s Chimanlal Maneklal to give them

extension of time for filing an appeal against the decision of the Lower

Bench of the Arbitration Committee in the dispute between Shri S.M. Shah

and M/s Chimanlal Maneklal regarding 100 shares of Philips India was

considered and it was resolved to give them extension of time upto 29-7-74

for filing an appeal.

6. The application dated 13-7-74 of Shri Nariman N. Dubash of our office for

giving him a loan was considered and it was resolved to confirm the loan of

Rs.3000/- given to him.

7. The application dated 2-7-74 of Shri K.B.S. Rao for giving him a loan was


8. The application dated 2-7-74 of Shri A.B.Desai of one officer was considered

and it was resolved to give him assistance of Rs.178.50p from Shri S.M.

Mehta Smarak Fund for the college fee for the first term of B.Com –Part 1.

9. The letter dated 11-7-74 of Bai Taramati Bhaichand Muchala and S/Shri

Chandravadan Bhaichand Muchala and Ajit Bhaichand Muchala was

considered and it was resolved to give permission to S/Shri Chandravadan

Bhaichand and Ajit Bhaichand to continue the business of the late Shri

Bhaichand Jivraj Muchala for a further period of two more months.

10. The President referred to the Resolution passed in the General Body Meeting

of the Stock Exchange held on the 31st August, 1971 and reported that the

stock exchange has approached Bank of India for a loan of Rs. 15,00,000/-

to finance purchase of a TDC-16 Central Processor Unit with peripheral

equipment. The President requested the Governing Board to pass requisite

resolutions to avail of the loan facility from Bank of India.

IT WAS RESOLVED AS FOLLOWS:

1. THAT the Stock Exchange do borrow a sum upto Rs. 15,00,000/- by

way of Demand loan from the Bank of India on the terms, conditions

and security mentioned below:

Limit: Rs. 15,00,000/-

Term: Demand- Without prejudice to the demand nature, the loan is to

be repaid within a period of 5 years by annual instalments of Rs 3 lakhs.

Rate of Interest: 5% over Bank rate, minimum 12% p.a. with quarterly

rests, or any other rate/s notified by the Bank from time to time.

Security : 1) Demand Promissory Note for Rs.15,00,000/- and interest at

the rate aforesaid to be executed by the Stock Exchange in

favour of the Bank.

2) Continuing Security Agreement.

3) Hypothecation fo the TDC-16 Central Processor Unit and

other accessories thereof.

4) Letter of Lien and Set-off.

Margin: 15%

2. THAT as security for due repayment of the said loan and interest at

the rate aforesaid or any other rate/s notified by the Bank from time

to time, the Stock Exchange do execute in favour of the Bank the

documents referred to below, viz:

a) Demand Promissory Note for Rs. 15,00,000/- and interest at

the rate aforesaid in favour of the Bank.

b) Letter of continuing security.

c) Letter of Hypothecation of the TDC-16 Central Processing Unit

and accessories thereof,

d) Letter of lien and set-off,

in terms of the forms of these documents which are produced to the

Governing Board.

3. THAT the said documents, viz.:

i) Demand Promissory Note for Rs. 15,00,000/-

ii) Letter of continuing security.

iii) Agreement of Hypothecation

iv) Letter of Lien and set-off.

be signed on behalf of the Stock Exchange by Shri Jayant Amerchand the

President and Shri Vasantlal Champaklal Member of the Governing Board

and countersigned by the Secretary Shri A.J.Shah and the seal of the

Exchange be affixed thereto and that such documents be thereafter

delivered to the Bank.

4. THAT the Stock Exchange hereby declares and assures the Bank that

its total borrowings including the loan facility mentioned above are

within the borrowing limit sanctioned by the resolution passed at the

General Body Meeting of the Members of the Stock Exchange held on

the 31st day of August, 1971 viz., Rs.2,50,000/-.

5. THAT the said loan account be operated upon and instructions

concerning the same way be given by and any acknowledgements or

confirmation of debt and/or security which may be required by the

Bank from time to time may be executed on behalf of the Stock

Exchange by the President and a Member of the Governing Board

and countersigned by the Secretary of the Stock Exchange.

6. AND THAT a copy of the foregoing resolutions certified to be a true

copy by the President be furnished to the Bank.

11. The prevailing market situation was considered and it was resolved to issue

a notice as under:

“ All the members are hereby informed that the Governing Board has

resolved that effective from Tuesday 23-7-74 transactions in whichever

equity shares are done, cannot be done at a price lower than 10% of the

official closure price of that share on Thursday 4-7-74. These prices will be

effective until Thursday 25-7-74 and thereafter will be again reviewed.

The members should especially note that the other restrictions mentioned in

the Notice No:1352-74 dated 12-7-74 continue without any other change”.



mentioned against their names to our list of securities traded on the

Exchange:

Premier Tyres of India Ltd. …. Bonus Equity

Polsteels India Ltd …. New Equity

Jayant Paper Mills Ltd. …. New Equity

Amar Dye-Chem Ltd. …. Bonus Equity





respective names should be admitted to our list of Non-cleared securities list

traded on the Exchange and their transactions should be made in the lots


W.G. Forge and Allied Industries Ltd. Equity …. 50 shares

Sika Breweries Ltd. Equity …. 50 shares

Traco Carbide Ltd. Equity …. 50 shares

Bhagyodaya Investment Co. Ltd. Equity … 50 shares

14. Shri J.T. Halai had informed by his letter dated 18-1-74 that he had stopped

all his business and that members should be informed about it. Notice about

it had been placed on the same date and thereafter he had been warned

again and again that he should not do business in his own name without the

permission of the Board because of the reasons mentioned in our letter to

him dated 3-4-74. As he has been doing business in the market inspite of

that, after taking into consideration the clarification given by him in person

and the letter dated 22-7-74 handed over by him, it was unanimously

resolved that Shri J.T. Halai should be suspended for one year for the

conduct unbecoming of a member of the Exchange.


26-7-1974

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Kantilal Shah Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Chhotalal Devchand Seth Hiralal Gidharlal Seth Ashokkumar G. Fozdar Seth Purshottam Gopiram Ruiya


Shri S. Rajgopalan

The following business was transacted in the meeting: 1. The application dated 12-7-74 of S/Shri Ramdas Lallubhai and Manilal

Lallubhai for partnership was considered and it was resolved to approve

their partnership under the firm name of M/s Lallubhai Nagardas & Sons

with effect from 12-7-74.

2. The Chairman informed the Board that Handa Rotary Machines Ltd., has

filed an appeal in the Bombay High Court against the decision of the

Government in its appeal to Government in connection with its listing

application.

3. The prevailing market situation was discussed and it was resolved to put up

a notice as under:

“ In continuation of Notice No: 1352/74 dated 12-2-74 all the members are

hereby informed that the Governing Board has resolved that effective from

Saturday 27-7-74 transactions in whichever active shares, that is the shares

settled by Form Nos: 6-A and 7-A are done, cannot be done at a price of

such shares on Thursday 4-7-74. These prices will be effective until 29-7-74

and thereafter will be again reviewed”.

The members should specially note that the other restrictions mentioned in

Notice No:1352/74 dated 12-7-74 continue without any other change.


Wednesday 7-8-74

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 1.00pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Laldas Jamnadas Seth Babubhai Maganlal Gandhi Seth Vasantlal Jivatlal Seth Chhotalal Devchand Seth Vasantlal Kantilal Shah Seth Ashokkumar G. Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya


The following business was transacted in the meeting: 1. The Chairman acquainted the Board that an arrest warrant and a search

warrant of the Ahmednagar Court has been served on him for offences

under section 420, 489-c and 489-D and 114 of the Indian Penal Code for

cheating, possessing forged or counterfeit currency notes and the tools for

printing such currency notes. There was no mention at all of the mane of

the complainant nor any information relating to what the complaint was

about given in the warrants. The Chairman further told that he has never

visited Ahmednagar and had handed over the whole matter to the legal

counsel who has represented to the Chief Metropolitan magistrate that in

this manner the legal system was being grossly abused.

The Chairman added that in the above mentioned circumstances, it was not

proper for him to continue to function as the Chairman.

Thereafter, after hearing our Solicitors M/s Kanga & Co’s partner Shri

Bhakta, it was unanimously resolved that the Board and the members have

full trust in the Chairman and urge him specially to continue discharging his

duties as the Chairman. Further Resolved that in the above mentioned

matter whatever is required to be done by the Association according to the

advise of our Solicitors should be done.


Tuesday, 13-8-1974

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Rasiklal Maneklal Seth Phiroze J. Jeejeebhoy Seth Navinchandra C. Kampani Seth Mathradas Samaldas Seth B.M. Gandhi Seth Vasantlal Jivanlal Seth Chotalal Devchand Seth Vasantlal Kantilal Shah Seth Ashokkumar G. Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya Seth Hiralal Gidharlal


Shri S. Rajgopalan

The following business was transacted in the meeting: 1. Resolved that the notices mentioned below regarding cum-right and Ex-

right transactions in the shares of the concerned companies should be

confirmed:

1. Modi Pon Ltd Notice No:1427/74 dt. 26-7-74

2. Uttar Pradesh Hotels & Restaurants Ltd. Notice No: 1492/74 dt.30-7-74

3. Mafatlal Finance Spg. and Mfg. Co.Ltd. Notice No: 1529/74 dt. 2-8-74

4. The Gwalior Rayon Silk Mfg. Co.Ltd. Notice No: 1531/74 dt.2-8-74

5. Madhavnagar Cotton Mills Ltd. Notice No:1551/74 dt. 5-8-74

6. Kirloskar Cumins Ltd. Notice No: 1584/74 dt.8-8-74

2. Resolved that the Notices regarding permission given for doing business

in Letters of Renunciation and coupons of the new shares of the

companies mentioned below should be confirmed:

1. Sirdesai Brothers Ltd. Notice No: 1414/74 dt. 27-7-74

2. National Standard Deccan Ltd, Notice No: 1541/74 dt. 7-8-74

3. Resolved that the undermentioned Notices should be confirmed:

1. The Notice No:1464/74 dt. 26-7-74 regarding desisting from doing

transactions in the shares of Bilaspur Spg. Mills & Industries Ltd.

2. The Notices No:1435/74 dt. 23-7-74, No:1534/74 dt. 2-8-74 and

No:1620/74 dt. 12-8-74 regarding settlement of transactions in

the shares settled by sellers tickets, foreign securities and odd

lots.

3. The Notices No: 1476/74 dt. 27-7-74 and 1503/74 dated 30-7-74

regarding circulation of dummy kaplis relating to transactions

which are settled by red-black forms 6-A and 7-A.

4. Notice No:1537/74 dated 3-8-74 regarding permission given for

doing business in coupons of bonus shares of Century Enka Ltd.

4. The letter dated 2-7-74 of Shri Ramniklal Nanalal was read and it was

resolved that Wednesday 21-8-74 should be fixed as the Association

Holiday as it was a Jain holiday of Samvatsari.

5. The listing applications of the undermentioned companies were

considered and it was unanimously resolved to confirm admission of their

below mentioned securities to our list of securities traded on the

Exchange:

Bharat Bijlee Ltd. Bonus Equity

W.S. Insulator of India Ltd. New Equity

Warner Hindustan Ltd. Bonus Equity

6. The listing application of Adarsha Chemicals and Fertilisers was

considered and it was unanimously resolved that subject to the Listing

Rules and Regulations as well as compliance with the usual requirements

and other special requirements stipulated by us their 9.8% new

preference shares should be placed on our list of securities traded on the

Exchange and dealings in those shares should be done in lots of 5 shares.

7. The prevailing market situation was discussed.

Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President Dt: 17-8-74

Saturday, 17-8-74

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Navinchandra C. Kampani Seth Mathradas Samaldas Seth B.M. Gandhi Seth Vasantlal Champaklal Seth Chotalal Devchand Seth Vasantlal Jivanlal Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Purshottam Gopiram Ruiya

Government Nominees

Shri M.R. Mayya The following business was transacted in the meeting: 1. The prevailing market situation was considered and it was resolved to put up

a notice as under:

“ All the members are hereby informed that the Governing Board has

resolved that from now members can do business in every kind of shares as

usual without any restrictions mentioned in the Notice No:1372/74 dated 16-

7-74.

Further, to be informed that in view of the prevailing circumstances, nobody

should do very large business or transactions in any shares on behalf of the

clients or himself. If any member is found doing excessive business or

transactions, he shall have to pay very heavy additional margin and more

over he will be suspended immediately. Members are therefore specially

cautioned to do business cautiously in the “general interest”.


Dt: 1-10-74

Thursday, 1-10-74

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Rasiklal Maneklal Seth Vasantlal Champaklal Seth Navinchandra C. Kampani Seth Vasantlal Katilal Shah Seth B.M. Gandhi Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar

Government Nominees

Shri M.R. Mayya Shri S. Rajagopalan




1. Eurocote (India) Ltd. Notice No:1814/74 dt.3-9-74 2. Richardson Hindustan Ltd. Notice No: 1859/74 dt.9-8-74 3. Sussen Textile Bearings Ltd. Notice No: 1897/74 dt.14-9-74 4. Shah Malleable Castings Ltd. Notice No: 1921/74 dt.20-9-74 5. Kesar Sugar Works Ltd. Notice No: 1950/74 dt.25-9-74


undermentioned Companies regarding the permission given for dealing in

Letters of Renunciation and confirms of the new shares are confirmed:

1. Tata Mills Ltd. Notice No: 1626/74 dt.13-8-74 2. Shree Digvijay Woollen Mills Ltd. Notice No: 1649/74 dt. 16-8-74 3. Vickers Spearsy of India Ltd. Notice No: 1667/74 dt. 29-8-74 4. Modi Rubbers Ltd. Notice No: 1781/74 dt. 30-8-74 5. The Madhavnagar Cotton Mills Ltd. Notice No: 1868/74 dt. 10-9-74 6. Indo Lowenbrew Breweries Ltd. Notice No: 1952/74 dt.15-9-74


1. Notice No: 1639/74 dated 14-8-74, 1655/74 dated 16-8-74 and

1659/74 dated 17-8-74 regarding issue of Buyers Tickets pertaining

to the shares which are settled by red-black forms 6-A and 7-A.

2. Notice No: 1657/74 dated 17-8-74 regarding resumption of dealings

in the shares of Bilaspur Spg. Mills and Industries Ltd.

3. Notice No:1669/74 dated 19-8-74 for making ex-dividend

transactions in some shares which are settled by red-black forms 6-

A and 7-A.

4. Notice No:1690-74 dated 21-8-74 stopping transactions in the

shares of IndoLowenbrew Breweries and Notice No: 1872/74 dated

10-9-74 for doing ex-right transactions in the shares of that

company.

5. Notice No: 1822/74 dated 4-9-74 regarding permission given for

dealing in coupons of bonus shares of Navsari Cotton and Silk Mills

Ltd.

6. Notice No: 1827/74 dated 4-9-74 and Notice No:1860/74 dated 9-

9-74 regarding payment of difference in dividend between the

parties in several kinds of shares which are settled by red-black

forms 6-A and 7-A.

7. Notice No: 1873/74 dated 11-9-74 regarding getting call

endorsements made on share certificate.

8. The Notice No: 1874/74 dated 11-9-74, No:1885/74 dated 12-9-74

and No:1887/74 dated 13-9-74 regarding paying- receiving the

amount of difference in dividend of National Rayon shares and

Notice No:1937/74 dated 23-9-74 regarding difference of dividend

on National Rayon and Kohinoor Mills Shares.

9. Notice No:1881/74 dated 12-9-74 regarding making ex-dividend

transactions in the shares of Ahmedabad Electricity shares and

Bombay Suburban Electricity Co.Ltd. shares.

10. The Notice No: 1898 dated 14-9-74 for not doing transactions in the

shares of Regal Papers Ltd., and notice No:1914 dated 18-9-74

regarding resumption of business in those shares.

11. Notice No: 1903/74 dated 16-9-74 regarding closure of market for

all kinds of business on 16-9-74 because of Samvatsari holiday of

Jains.

12. Notice No: 1987/74 dated 30-9-74 regarding transactions in the

shares of India United Mills Ltd.

4. The application of the National Association For The Blind dated 22-7-74 and

the application dated 13-9-74 of the Tata Agricultural and Rural Centre for

the blind were considered and it was resolved to give each of them

assistance of Rs.101/- from the Association Fund.

5. The application dated 10-9-74 of our Accountant Shri A.B. Desai to give

him assistance of Rs.175/- of the tuition fee for the intermediate

examination of Institute of Cost and Works Accountant was considered and

it was resolved to give him assistance of that much amount from Shri M.C.

Mehta Smarak Fund.

6. The applications of the undermentioned persons of our office staff for

giving them assistance for the expenses incurred by them for medical

treatment during their sickness were considered and it was resolved to give

them assistance as under from “Sheth K.R.P. Shroff Stock Exchange

Sarvajanik Fund”:

Shri B.M. Mehta … Rs. 1600/-

Sweeper Kachru Dhureram … Rs.125/-

7. The applications of our office sepoy Balkrishna Shinde and liftman Tukaram

Laxman for giving them an assistance for the medical expenses incurred by

them during the sickness of their lives were considered and it was resolved

that we cannot give any assistance to them for that.

8. The application dated 24-9-74 of Shri A.B.S. Nair of our office was


9. The report of Sir Shapurji Broacha Brokers Helping Fund Committee dated

26-8-74 was read and it was resolved to approve it.

10. The letters of the undermentioned members were read and it was resolved

to that the permission given by the Chairman for doing business as

Representative Members should be approved:


M/s M.K. Choksey & Co. M/s Chimanlal Maneklal

Shri Nagindas Chhaganlal Shri Rajnikant Chinubhai Sheth

11. The application dated 23-8-74 of S/Shri Chandratandas Bagri,

Shravankumar Ramkrishna Bagri, Dilipkumar Chandratandas Bagri and

Bharatkumar Chandratan Bagri for their partnership was considered and it

was resolved to approve their partnership under the firm name of C.R.D.

Bagri and Sons w.e.f. 1-4-74.

12. The letter dated 2-9-74 of Bai Taramati Bhaskar and S/Shri Chandravadan

Bhaichand Muchhala and Ajit Bhaichand Muchhala was considered and it

was resolved to give permission to S/Shri Chandravadan Bhaichand

Muchhala and Ajit Bhaichand Muchhala to continue the business of late Shri

Bhaichand Jivraj Muchhala for a further period of one month.

13. The application of Shri Kailashnarayan Parasrampuria dated 17-8-74 to

give him an extension of time for filing an appeal against the decision of

the Lower Bench of the Arbitration Committee in the dispute for Rs.560/-

between Shri Girdharlal Amulakh Shah and Shri Kailashnarayan

Parasrampuria and the letter dated 21-8-74 of Shri Girdharlal Amulakh

Shah in that connection were considered and it was resolved to give time

to Shri Kailashnarayan Parasrampuria upto 8-10-74 for filing an appeal.

14. The application dated 29-8-74 of the near relatives of late Shri Bhaichand

Jivraj Muchhala nominating Shri Chandravadan Bhaichand Muchhala in the

place of the late Shri Bhaichand Jivraj Muchhala was considered and after

interviewing Shri Chandrakant Bhaichand Muchhala and his recommenders

S/Shri G.R. Pandya and Jitendra Champaklal Mashruwala it was resolved by

11 votes in favour and none against to elelct Shri Chandravadan Bhaichand

Muchhala in the place of the late Shri Bhaichand Jivraj Muchhala subject to

the Rules and Bye-laws of the Exchange on the condition that he should

separate himself from the partnership firms of M/s Delux Silk Traders and

M/s Mukundlal & Co., within one month.



mentioned below against their names to our list of securities traded on the

Exchange:

Indo Burma Petroleum Co. Ltd. Bonus Equity Aditya Mills Ltd. New Equity Uttar Pradesh Hotels & Restaurant Ltd. New Equity and New Preference

Shares. Crompton Greaves Ltd. Bonus Equity Modi Industries Ltd. New Equity Navsari Cotton & Silk Mills Ltd. Bonus Equity L. Morrision & Son and Jones Ltd. New Equity


and it was unanimously resolved that, subject to Listing Rules and


special requirements as may be stipulated by us, their below mentioned

securities should be admitted to our list of Non-Cleared Securities and

trading in those securities should be done in the lots mentioned against

these securties:

Ramacast Ltd. Equity 50 shares Universal Plast Ltd. Equity 50 shares Adarsh Chemicals & Fertilisers Ltd. 9.8% Preference shares & 5 shares

17. Unanimously resolved that the undermentioned securities should be

removed from our list of securities traded on the Exchange as they have

been redeemed:

Stat Paper Mills Ltd. Convertible Third Preference shares Jay Shree Tea & Industries Ltd. ‘C’ Redeemable Preference shares The Ravalgam Sugar Farm Ltd. 7% Debentures.


Tuesday, 22-10-74

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Rasiklal Maneklal Seth Laldas Jamnadas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Jivatlal Seth B.M. Gandhi Seth Vasantlal Katilal Shah Seth Chhotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Purshottam Gopiram Ruiya

Government Nominees

Shri M.R. Mayya




1. Ramon and Derun Notice No:2002/74 dt.2-10=74

2. The Empire Dyeing and Manufacturing Co. Ltd. Notice No: 2106/74

dt.21-10-74


undermentioned Companies regarding deliverability of their new shares

against old shares are confirmed:

1. Century Enka Ltd. Notice No: 1999/74 dt.2-10-74

2. New Chem Plastics Ltd. Notice No: 2018/74 dt. 3-10-74


1. Notice No: 2000/74 dated 2-10-74 regarding making ex-dividend

transactions in the shares of J.K. Synthetics Ltd.

2. Notice No:2013/74 3-10-74 regarding stoppage of transactions in

the shares of Ranbaxy Laboratories Ltd.

3. Notice No: 2027/74 dated 8-10-74 regarding permission given for

doing transactions in the coupons of the bonus shares of Khandelwal

Ferro Alloys Ltd.

4. Notice No: 2057/74 dated 10-10-74 regarding settlement of the

Hand Delivery transactions.

5. Notice No:2103/74 dt: 21-10-74 regarding stoppage of transactions

in the shares of Beharday Ramcharan Cotton Mills Ltd.

4. Resolved that our market should be kept open on Wednesday 13-11-74

from S.T. 5.30 pm. to 6.30 pm. for doing business for Kartik Vikram

Samvat 2031.

5. The Report, Income and Expenditure Account and Balance Sheet of our


6. The letters dated 19-10-74 of Shri B.R. Raheja was considered and it was

resolved that his offer to purchase one membership right of our Association

at a price of Rs. 30,000/- cannot be accepted.

7. The application dated 24-9-74 of Shri Nagindas Nanji Bakhat nominating

Shri Narendra Motilal Dalal as a member of the Exchange in his own place

was considered and after interviewing Shri Narendra Motilal Dalal and his

recommenders S/Shri Nagindas Pranjivandas and N.C. Lodhiwala it was

resolved by 16 votes in favour and note against to elect Shri Narendra

Motilal Dalal as a member of the Exchange in place of Shri Nagindas Nanji

Bakhat subject to the Rules and Regulations of the Exchange.


Kakalbhai Dasadia nominating Shri Madan Mohan Murarka as a member of

the Exchange in the place of late Shri Kantilal Kakalbhai Dadadia was

considered and after interviewing Shri Madan Mohan Murarka and his

recommenders Shri Bhupendra Champaklal Dalal it was resolved by 3 votes

in favour and 13 against that he cannot be admitted as a member of the

Exchange.

9. The application dated 26-9-74 of the near relatives of the late Shri Haridas

Jadowji nominating Shri Girdharilal Dhanraj Khaitan as a member of the

Exchange in the place of the late Shri Haridas Jadowji was considered and

after interviewing Shri Girdharilal Dhanraj Khaitan and his recommenders

S/Shri Manubhai Maneklal and Brijmohan Sagarmal it was resolved by 10

votes in favour and 6 against to elect Shri Girdharilal Dhanraj Khaitan as a

member of the Exchange in the place of late Shri Haridas Jadowji subject

to the Rules and Bye-laws of the Exchange.


and it was resolved to confirm admission of their securities mentioned

against their names to our list of securities traded on the Exchange:

Century Enka Ltd. Bonus Equity

New- Chem Plastics Ltd. Bonus Equity


and it was unanimously resolved that, subject to Listing Rules and


special requirements stipulated by us, their securities mentioned below

against their names should be admitted to our list of Non-Cleared

Securities and trading in those securities should be done in the lots


Indian Resort Hotel Co. Ltd. Equity 50 shares

Nilkanth Shipping Co.Ltd. Equity 50 shares

Gogte Steels Ltd. Equity 50 shares

Gogte Steels Ltd. Preference 5 shares.


Saturday, 21-12-74

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Jivatlal Seth Babubhai Maganlal Gandhi Seth Vasantlal Katilal Shah Seth Chhotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Purshottam Gopiram Ruiya


Shri S. Rajagopalan The following business was transacted in the meeting: 1. The President mentioned that as Shri S. Rajagopalan has been shifted to

New Delhi we shall not have the benefit of his guidance now. He thanked

Shri S. Rajagopalan for the valuable support, co-operation and guidance

given by him to the Board and wished him success in his new

assignments. Shri Rajagopalan thanked the Board in return for its good

wishes.


undermentioned Companies regarding cum-right and ex-right transactions


1. Empire Dyeing and Mfg. Co. Ltd. Notice No:2106/74 dt. 21-10-74 2. The Victoria Mills Ltd. Notice No:2158/74 dt. 28-10-74 3. The Mysore Kirloskar Ltd. Notice No:2163/74 dt.29-10-74 4. Escorts Ltd. Notice No:2179/74 dt.31-10-74 5. The National Radio and

Electronics Ltd. Notice No:2181/74 dt.31-10-74

6. The Gujarat Steel Tubes Ltd. Notice No:2245/74 dt.8-11-74 7. Hindustan Lever Ltd. Notice No:2247/74 dt.9-11-74 8. Mafatlal Industries Ltd. Notice No:2250/74 dt.9-11-74 9. Indian Cement (1937) Ltd. Notice No:2253/74 dt.9-11-74 10. Dalmia Cement (Bharat)Ltd. Notice No:2310/74 dt.20-11-74 11. The Swastic Safe Deposit &

Investments Ltd. Notice No:2320/74 dt.21-11-74

12. Polyo Lefines Industries Ltd. Notice No:2345/74 dt.23-11-74 13. Nerolac Paints Ltd. Notice No:2394/74 dt.28-11-74 14. Ramon & Denim Ltd. Notice No:2400/74 dt.30-11-74 15. New Swadeshi Mills of

Ahmedabad Ltd. Notice No:2453/74 dt.9-12-74

16. The Finlay Mills Ltd. Notice No:2468/74 dt.11-12-74 17. The Gold Mohar Mills Ltd. Notice No:2469/74 dt.11-12-74


undermentioned Companies regarding the deliverability of their new shares

against old shares should be confirmed:

1. T. Maneklal Mfg.Co.Ltd. Notice No: 2235/74 dt.8-11-74

2. Tata Chemicals Ltd. Notice No: 2492/74 dt. 12-12-74

3. The West Coast Paper Mills Ltd. Notice No: 2493/74 dt. 14-12-74

4. The Notice No:2350/74, 2351/74 and 2352/74 dated 25-11-74 regarding

declaration of Shri Sobhagyachand Mohanlal Shah as a defaulter as he has

failed to pay the money due by him to his creditors were confirmed.

5. The Notice No: 2174/74 dated 31-10-74 regarding annulment of the rate of

Rs.200/- of the ordinary shares of Kohinoor Mills Ltd., recorded on 29-3-74

was confirmed.

6. Our Association Holidays for the year 1975 were fixed.

7. The application dated 13-12-74 of Shri S. Loknath who has left his

employment from our staff, for payment to him his Provident Fund amount

was considered and it was resolved to pay him Rs.172.90p according to our

Provident Fund Rules.

8. The application dated 6-12-74 of our Accountant Shri A.B. Desai to give

him assistance of Rs.175/- for his college fees o the second term of junior

B.Com. was considered and it was resolved to give him that much

assistance from Shri M.C.Mehta Smarak Fund.

9. The applications of the undermentioned persons of our office staff for

giving them loans were considered and it was resolved to give them loans

of the amounts mentioned against their respective names:

Sepoy Namdev Bhikaji Rs.500/-

Hamal Sahdev Ganpat Kadam Rs. 2000/-

Sweeper Harcharan Juiram Rs. 1000/-

10. The application dated 20-1-74 of S/Shri Shanker Amit Deshpande and

Hasmukhlal Manekalal Shah for partnership between them was considered

and it was resolved to approve their partnership under the firm name of

M/s S.A. Deshpande & Co., w.e.f. 5-11-74.

11. The letter dated 17-12-74 of S/Shri Durgashankar Udayram Shukla,

Prabhuchandra Durgashankar Shukla and Maheshkumar Durgashankar

Shukla was read and it was noted that S/Shri Prabhuchandra Durgashankar

Shukla and Maheshkumar Durgashankar Shukla were to retire from the

partnership firm of M/s D.V. Shukla with effect from 31-12-74 and

thereafter Shri Durgashankar Udayram Shukla would continue to do

business as a sole proprietor of that firm.

12. The letter dated 24-10-74 of S/Shri Gunvantlal Karsandas Dalal, Sanat

Motilal Dalal, Upendra Motilal Dalal and Narendra Motilal Dalal was read

and it was noted that S/Shri Narendra Motilal Dalal and Upendra Motilal

Dalal had separated from the firm of M/s Dalal & Sons.


to that the permission given by the Chairman for doing business as

Representative Members should be approved:

Nominating Members Representative Members Shri Chandravadan Bhaichand Muchhala Shri Maganlal Ladhabhai Shri Dipchand S. Taswala Shri Sumantrai G. Shah Shri Vrajlal Lallubhai Shri Mithalal Somchand Shah

14. The application dated of M/s Devidas Jamnadas dated 10-12-74 and 20-12-

74 for giving them extension of time for filing appeals against the decisions

of the Lower Bench of the Arbitration Committee in their dispute with Shri

P.L.Shah and Shri Yashwant N. Shah respectively were considered and it

was resolved that their request cannot be granted.

15. The letter dated 5-12-74 of Bai Shanta Bapulal and S/Shri V.B. Maniar and

P. B. Maniar was considered and it was resolved that Shri Vasantlal Bapulal

be given permission to continue the business of the late Shri Bapulal Jivraj

Maniar for a period of three months.

16. The letter dated 15-10-74 of M/s Batliwala & Karani was considered and it

was resolved that they should be informed by a letter that as the name of

their firm is included in the name of M/s Batliwala & Karani (Merchant

BankingLtd.) their request cannot be granted.

17. The President referred to the resolution passed in the General Body

Meeting of the Stock Exchange held on the 20th day of December, 1974,

and reported that Bank of India (hereinafter referred to as “the Bank”)

approached the Stock Exchange to take on lease the portions of the first

and second basements, the ground floor and the mezzanine floor of the

Stock Exchange Building which is under construction, for the purpose of

their Share Bazar Branch Premises. The President requested the Governing

Board to pass requisite Resolution for the purpose of executing the

Agreement to Lease with the draft Deed of Lease and the Draft of the

Agreement for Over-all Services and Facilities annexed thereto.

The President also reported that the Bank has agreed to subscribe to the 8

% Stock Exchange Debentures Stock, 1981-86, of Rs. 47.50 Lakhs issued

by the Stock Exchange on condition that the Stock Exchange will

repurchase the Debenture Stock from the Bank at par in 22 half-yearly

instalments. The President requested the Governing Board to pass requisite

Resolutions for the purpose of executing an Undertaking in favour of the

Bank to repurchase the said Debentures Stock of the face value of Rs.

47.50 Lakhs to be purchased by the Bank.

IT WAS RESOLVED AS FOLLOWS

That the Stock Exchange do give on lease the portions of the

basement, the ground floor and the mezzanine floor to the Bank for the

period, at the rent and over-all service and facility charges and on the term

and conditions set out in the Bank’s letter No. BMR:LS:NGK:11647 dated

7.11.1974 and incorporated in the draft Agreement to Lease with the draft

of the Deed of Lease and the Draft of the Agreement for Over-all Services

and Facilities annexed thereto.

That the Stock Exchange do execute an undertaking in favour of the

Bank for the purchase of the Debenture Stock of the face value of Rs. 47 ½

Lakhs purchased / agreed to be purchased by the Bank in terms of the

draft of the Undertaking approved by both the parties.

That the said documents viz. (1) Agreement to Lease with the Draft

of the Deed of Lease and the draft of the Agreement for over-all Services

and Facilities annexed thereto and (2) Undertaking to be given by the

Stock Exchange to the Bank for the purchase of the Debenture Stock the

drafts of which are placed before the Governing Board and initialled by the

President for identification be signed on behalf of the Stock Exchange by

Shri Jayant Amerchand, the President, and Shri Jivacahnd Ratanchand

Motishaw, Member of the Governing Board, and counter-signed by the

Secretary Shri Amritlal Jashraj Shah and the seal of the Stock Exchange be

affixed thereto.

That a copy of the foregoing Resolution certified to be a true copy by

the President be furnished to the Bank.


Dhansukhbhai Amritlal Maniar nominating Shri Bharatkumar Dhansukhbhai

Maniar as a member of the Exchange in the place of the late Shri

Dhansukhbhai Amritlal Maniar was considered and after interviewing Shri

Bharatkumar Dhansukhbhai Mania and his recommenders S/Shri Kantilal

Mohanlal and Ramanlal D. Shah it was resolved by 11 votes in favour and 2

against to elelct Shri Bharatkumar Dhansukhbhai Maniar as a member of

the Exchange in the place of the late Shri Dhansukhbhai Amritlal Maniar,

subject to the Rules and Regulations of the Exchange on condition that

within one month he should sever his connection with the Bombay

Diamonds Association and he should not start doing business in the market

in his own name without taking prior permission of the Board.

19. Resolved that a sum of Rs. 12,50,000/- should be given to the Stock

Exchange Foundation from the Stock Exchange Education and Research

Services on condition that Rs.10,50,000/- out of that sum will be

considered as a corpus.

20. Resolved that the amounts shown below against the names of the

undermentioned funds should be given to those funds from the Stock

Exchange Education and Research Services Fund:

Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund … Rs. 15,000/-

Shri M.C. Mehta Smarak Fund … Rs. 5,000/-.

21. Resolved that an amount of Rs.1001/- should be given from the

Association Fund to the Stock Exchange Foundation which has been

approved under Section 35(1)(2) of the Income Tax Act.

22. The letter dated 7-12-74 of S.B. Joshi & Co. and the letter dated 12-12-74

of the Vigyan Industries Ltd., were read and it was resolved that their

shares should be re-admitted to our list of securities traded on the

Exchange as they have paid the Annual Listing Free for the year 1974.

23. The listing applications of the under mentioned Companies were considered and it was unanimously resolved to confirm re-admission of their securities mentioned below against their names to our list of securities traded on the Exchange: 1. Mahendra Electricals Ltd. Bonus Equity 2. Wadia India Ltd. New ‘C’ Series Equity 3. Travancore Electro Chemical Industries

Ltd. New Equity

4. Wool Combers of India Ltd. Bonus Equity 5. South India Shipping Corporation Ltd. Bonus Equity 6. Firth (India) Steel Co. Ltd. New Equity 7. National Standard Duncan Ltd. New Equity 8. Modi Pan Ltd. Bonus Equity 9. The Mafatlal Fine Spg.& Mfg. Co.Ltd. Bonus Equity 10. Automobile Products of India Ltd. New Equity 11. Digvijay Woollen Mills Ltd. New Equity 12. Richardson Hindustan Ltd. Bonus Equity 13. The East India Hotels Ltd. New Equity & New

Preference shares 14. Hicks Thermometers India Ltd. New Equity 15. Adarsh Chemicals and Fertilisers Ltd. New Equity 16. Star Paper Mills Ltd. New Equity – issued in

liew of 7% 3rd convertible Preference Shares.

17. Guj-Chem Distilleries India Ltd. New Equity 18. Shah Malleable Castings Ltd. New Equity

19. Unicorn Tyres Ltd. New Equity

24. The listing applications of the undermentioned companies were considered and it was resolved that, subject to the Listing Rules and Regulations as well as compliance with the usual requirements and other special requirements stipulated by us, their securities mentioned against their names should be included in our list of Non-Cleared securities and dealings in those securities should be done in the lots specified against their names: Rolatainers Ltd. Equity … 50 shares Chanakya Investment Ltd. Equity … 50 shares Mangal Investments Ltd. Equity … 50 shares Navyug Investments Ltd. Equity … 50 shares Haryana Polysteels Ltd. Equity … 50 shares Haryana Polysteels Ltd. Preference … 50 shares Ramon Engineering Ltd. Equity … 50 shares Century Iron and Steels Ltd. Equity … 50 shares Century Iron and Steels Ltd. Preference 5 shares Grijchem Distillers India Ltd. 11% Preference Shares 5 shares

25. The letter dated 30-11-74 of the Nagpur Electric Light and Power Co. Ltd., was read and it was unanimously resolved that as that company has gone into voluntary liquidation its shares should be removed from our list of securities traded on the Exchange.

26. The letter dated 28-10-74 of Andhra Foundry and Machine Co. Ltd., and the letter dated 16-12-74 of Azan Zahi Mills Ltd., were read and it was unanimously resolved to remove their shares from our list of securities traded on the Exchange.

27. The letter dated 11-10-74 of the National Radio and Electronics Ltd., were read an it was unanimously resolved to remover their 7% 1974 Debentures from our list of securities traded on the Exchange as they have been redeemed.


Tuesday, 18-2-75

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Hiralal Gidharlal Seth Phiroze J. Jeejeebhoy Seth J.R. Motishaw Seth Mathradas Samaldas Seth Rasiklal Maneklal Seth Laldas Jamnadas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Katilal Shah Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Chhotalal Devchand Seth Ashokkumar G. Fozdar Seth Purshottam Gopiram Ruiya


The following business was transacted in the meeting: 1. The applications for help of the undermentioned institutions were

considered and it was resolved to give each of them help of Rs. 101/- from

the Association Fund:

1. The Bombay Dumb and Deaf Institution

2. Society for the Vocational Rehabilitation of the Retarded.

3. All India Federation of the Deaf.

2. The letter dated 24-12-74 of S/Shri Bachubhai Fulchand Jhaveri and

Bharatkumar Bachubhai Jhaveri was read and it was noted that Shri

Bharatkumar Bachubhai Jhaveri had separated from the firm of M/s

Bachubhai Fulchand Jhaveri with effect from 14-11-74.


to confirm the permission given by the Chairman to them to do business as

Representative Members as recorded below:

Nominating Members Representative Members M/s Kantilal Mohanlal Shri Bharat Dalsukhbhai Maniar

M/s Maganlal Chimanlal Shri Kardam R. Dalal

4. The letter dated 15-2-75 of S/Shri Pravin Kantilal Dalal and Mahesh Kantilal

Dalal was considered and it was resolved to give permission to Shri Pravin

Kantilal Vakil to continue the business of the late Shri K. Motiram Vakik for

a period of three months.

5. The letter dated 15-2-75 of Shri V.B. Maniar was read and it was resolved

to give permission to him to continue the business of the late Shri Bapulal

Jivraj Maniar for a further period of two months.

6. The letter dated 23-12-74 of Bai Jayanti Narandas and S/Shri Vijaychandra

Narandas Cantol and Dilipkumar Narandas Cantol was read and it was

resolved to give permission to Shri Vijaychandra Narandas Cantol to

continue the business of M/s Narandas and Sons for a period of three

months.

7. The application dated 15-1-75 of Shri Sureshchandra Nandlal for appointing

Shri Kaniyalal Shanalal Shah as his remisier was considered and it was

resolved that his request cannot be granted.

8. The application of Shri M.K. Shivraman and Shri Balkrishna Shinde for

giving them assistance for the expenses incurred by them for medical

treatment of their wives during their illness was considered and it was

resolved that their request cannot be granted.

9. The application dated 17-1-75 of Shri B.M. Mohta of our staff requested for

assistance of the fee of Rs.300/- for doing a Punch Operating Course was

considered and it was resolved to give him that much assistance from Shri

M.C. Mehta Smarak Fund.

10. The application of the undermentioned persons of our office staff for giving

them loans were considered and it was resolved to give them loans of the

amounts mentioned against their names:

Shri M.D. Vyas ….Rs.1000/-

Shri H.A. Patni ….Rs.1500/-

Shri T.G. Babu ….Rs.2500/-

Sepoy Pandurang Ghadi …. Rs.1700/-

Sweeper Kharecha Dhuriram ….Rs.1000/-

11. The Report dated 30-1-75 of Sir Shapurji Broacha Brokers’ helping funce

was read and it was resolved to approve it.

12. The application dated 7-10-74 of the officers of our office viz., J.M.Lalkaka,

Shri K.V.B.S.Rao, Shri S.N.Karaka, Shri M.D.Vyas, and Shri Nariman

N.Dubash for giving them pay rise in view of the present very high price

rise was considered and it was resolved to give each of them two

increments of pay from 1-1-1975.

13. The application dated 5-8-74 of our pensioners Shri K.B. Daruwala

requesting for increasing his pension was considered and it was resolved to

give him help of Rs. 750/- from Seth K.R.P. Shroff Stock Exchange

Sarvajanik Fund.

14. Unanimously resolved that as the undermentioned companies have been

nationalised their shares should be struck off our list of securities traded

on the Exchange:

The India United Mills Ltd.

The Model Mills Nagpur Ltd.

The Hingir Rampur Coal Co. Ltd.

15. Unanimously resolved that the 61/2% Preference shares of Premier Tyres

should be struck off our list of securities traded on the Exchange as they

have been redeemed.

16. The listing applications of the undermentioned companies were considered and it was resolved that, subject to the Listing Rules and Regulations as well as compliance with the usual requirements and other special requirements stipulated by us, their securities mentioned against their respective names should be admitted to our list of securities traded on the Exchange and dealings in those securities should be done in the trading lots specified below: Dabriwala Steel & Engineering Co.Ltd. Equity 50 shares Dabriwala Steel & Engineering Co.Ltd. Preference 50 shares Dabangere Sugar Co. Ltd. Equity 50 shares Siddharth Ferro Alloys Ltd. Equity 50 shares Falcon Tyres Ltd. Equity 50 shares Tamilnadu Chemical Products Ltd. Equity 50 shares Tamilnadu Chemical Products Ltd. Preference 5 shares Anglo-American Marine Co.Ltd. Equity 50 shares Anglo-American Marine Co.Ltd. Preference 5 shares Amines & Plasticisers Ltd. Equity 50 shares Amines & Plasticisers Ltd. Preference 5 shares Bharat Bijlee Ltd. 10% convertible bonds -1 bond Camphor & Allied Products Ltd. 10% convertible bonds -1 bond

17. Resolved that subject to the limit of Rs. 250/- p.m. and Rs.200/- p.m.

respectively our Secretary Shri A.J.Shah and our Chief Statistical Officer

Shri R.R. Nair should be paid towards the expenses for the use of their own

cars for office work.

18. Resolved that Thursday 20-3-75 should be fixed as the day for election of

the Governing Board for the year 1975-76.


Wednesday, 16-4-75

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.30 pm under the Chairmanship of Seth Mahradas Samaldas in the beginning and thereafter under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth A.R. Mahadevia Seth Vasantlal Katilal Shah Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya Seth Hiralal Gidharlal Seth Ashokkumar G. Fozdar Seth Jayantilal Rangildas Khandwala

Government Nominees Shri M.R. Mayya Shri S.C. Bafna

The following business was transacted in the meeting: 1. Proposed by Seth Jayant Amerchand and supported by Seth Rasiklal

Maneklal, Seth Mathradas Samaldas was unanimously elected as Chairman

of to-day’s meeting at the start.

2. Proposed by Seth Rasiklal Maneklal and supported by Seth J.R. Motishaw,

Shri Jayant Amerchand was unanimously elected as President.

Seth Jayant Amerchand thanked for the trust reposed in him by all the

members of the Board. He congratulated Shri Jayantilal Rangildas

Khandwala for being elected to the Board and welcomed Shri F.C. Bafna

expressing his gratitude for the support and co-operation given by the

members of the Board and Government Nominees last year. He expressed

hope that they will continue to give their support and co-operation during

the current year also.

3. Proposed by Seth Rasiklal Maneklal and supported by Seth Ashokkumar

G.Fozdar it was unanimously resolved to elect Seth Mathradas Samaldas as

the Vice-President.

4. Proposed by Seth Hiralal Girdharlal and supported by Seth Purshottam

Gopiram Ruiya it was unanimously resolved to elect Shri Vasantlal

Champaklal as the Hon. Treasurer.

5. Resolved to support Sir Shapoorji Broacha Brokers’ Fund Committee

consisting of S/Shri J.R. Motishaw, Mathradas Samaldas, Vasantlal

Champaklal and Dhirajlal Maganlal.

6. Resolved that the undermentioned persons should be appointed as

members of the Arbitration Committee for the year 1975-76:

Shri Keki N. Chinoy Shri S.M. Shah Shri Jayantilal M. Dalal Shri Nagindas Trambaklal Shri Champaklal Babubhai Marfatia Shri V.K. Nanavati Shri M.L. Kaji Shri Jayendra D. Mehta Shri L.N. Kapadia Shri Rasiklal S. Jhaveri Shri D.V. Shukla Shri Govindbhai G. Amin Shri Hariram Dwarkadas Shri Jitendra Champaklal

Mashruwala Shri Bhagubhai Amthalal Gandhi Shri Ramdas Lallubhai

7. Resolved that the Defaulters Committee for the year 1975-76 consisting of

the undermentioned members be appointed:

Seth J.R. Motishaw Seth Keki N. Chinoy

Seth Vasantlal Champaklal Seth Jayantilal Mansukhlal Dalal

Seth Vasantlal Kantilal Shah Seth Rasikal S. Jhaveri

8. Resolved to appoint a Building Committee consisting of S/Shri Mathradas

Samaldas, Laldas Jamnadas, J.R. Motishaw, Rasiklal Maneklal, Vasantlal

Kantilal Shah, Jasvantlal Chhotalal and Gordhandas Bhagwandas.

9. Resolved that cheques be signed by the President, Shri Jayant Amerchand

or the Chairman Shri P.J. Jeejeebhoy, or the Vice-President Shri Mathradas

Samaldas, or the Hon-Treasurer Shri Vasantlal Champaklal and any one of

the following seven members of the Governing Board namely Shri Rasiklal

Maneklal, Shri Navinchandra C. Kampani, Shri Hiralal Girdharlal, Shri B.M.

Gandhi, Shri Vasantlal Kantlal Shah, Shri Jasvantlal Chhotalal and Shri A.R.

Mahadevia and be countersigned by the Secretary, Shri A.J. Shah.

10. Resolved that the various accounts and safe custody accounts of the

Exchange with Bank of India be operated on jointly by the President, Shri

Jayant Amerchand, or the Chairman Shri P.J. Jeejeebhoy or the Vice-

President Shri Mathradas Samaldas or the Hon-Treasurer Shri Vasantlal

Champaklal and by any one of the following seven members of the

Governing Board namely Shri Rasiklal Maneklal, Shri Navinchandra C.

Kampani, Shri Hiralal Girdharlal, Shri B.M. Gandhi, Shri Vasantlal Kantilal

Shah, Shri Jasvantlal Chhotalal and Shri A.R. Mahadevia and be

countersigned by the Secretary Shri A.J. Shah.

11. Resolved that the Current Accounts and safe custody accounts with Bank of

India in the name of the Stock Exchange Staff Provident Fund and the

Stock Exchange Staff Gratuity Fund be operated on either by any two of

the Trustees of the Exchange for the time being or the survivors or survivor

of them or jointly by the Hon-Treasurer Shri Vasantlal Champaklal and by

any one of the following seven members of the Governing Board namely

Shri Rasiklal Maneklal, Shri Navinchandra C. Kampani, Shri Hiralal

Girdharlal, Shri B.M. Gandhi, Shri Vasantlal Kantilal Shah, Shri Jasvantlal

Chhotalal and Shri A.R. Mahadevia and be countersigned by the Secretary

Shri A.J. Shah.

12. The application dated 23-2-75 of The Poona School and Home For the Blind

was considered and it was resolved to give help of Rs. 105/-from the

Association Fund.

13. The application of the undermentioned persons of our office staff to give

them assistance towards the expenses incurred by them for medical

treatment during their sickness were considered and it was resolved to give

them assistance as shown against their names from “Seth K.R.P. Shroff

Stock Exchange Sarvajanik Fund”:

Shri T.G. Prabhu Rs.100/-

Sepoy Pandurang Ilu Rs. 70/-


them loans were considered and it was resolved to give each of them a

loan of the amount shown against their respective names:

Shri G.S. Tope Rs. 1000/-

Shri Vijay Narayan Rs. 1500/-

Shri Gopinath Govind Rs. 50/-

Shri Shantaram Narayan Rs. 1500/-

Shri Govind Mahadev Khatale Rs. 1000/-

Shri Tukaram Laxman Rs. 2000/-


to give them permission to do business as Representative Member as

shown below:


Shri Shivkishan M.Damani M/s Maniklal Mohta

Shri Ramanlal D. Shah Shri Jayantilal D. Sanghvi

16. The letter dated 18-3-75 of Smt. P.P. Shah and others was considered and

it was resolved to give permission to Shri Vijaykumar P. Shah to continue

the business of the late Shri P.L. Shah for two months more.

17. The letter dated 14-3-74 of Smt. Jayvanti Narandas and S/Shri

Vijaychandra N. Cantol and Dilipkumar N. Cantol was considered and it was

resolved to give permission to Shri Vijaychandra Narandas Cantol to

continue the business of M/s Narandas & Sons for two months more.

18. The letter dated 18-4-75 of S/Shri P.M. Choksey, R.D. Choksey and K.R.

Choksey and Smt. Pushpavati Choksey was considered and it was resolved

to give them permission to continue the business of M/s Choksey & Co., for

a period of three months.

19. The President referred to the Resolution passed in the meeting of the

Governing Board of the Stock Exchange held on 22nd of July, 1974 which

resolved that the Stock Exchange should borrow and avail of a sum of

Rs.15,00,000/- by way of Demand Loan from Bank of India and reported

that the Stock Exchange has approached Bank of India fro an additional

Loan of Rs.2,50,000/- which is unutilised portion of the original limit of Rs.

17.50 lacs sanctioned by the Bank to finance purchase of Magnetic Taper

Transports. The President requested the Governing Board to pass requisite

resolutions to avail of the loan facility from Bank of India.


1. THAT the Stock Exchange do borrow a further sum upto Rs.2,50,000/-

by way of Demand loan from the Bank of India on the terms, conditions

and security mentioned below.

Limit: Rs.2,50,000/- (unutilised portion of original limit of Rs.17.50 lacs

sanctioned by the Bank)

Term: DEMAND – Without prejudice to the demand nature of the loan, it is

to be repaid within a period of 5 years by annual instalments of Rs.

3.50 lacs each commencing one year after the date of first

disbursement of the loan i.e. from 26-7-1975.

Rate of Interest : 61/4% over Bank Rate minimum 151/4% per annum with

quarterly rests, or any other rate/s notified by the

Bank from time to time.

Security : 1. Demand Promissory Note for Rs. 2,50,000/- and interest at

the rate aforesaid to be executed by the Stock Exchange in

favour of the Bank.

2. Continuing Security Agreement;

3. Supplemental Deed of Hypothecation of Electronic

equipment.

Margin : 15%

2. THAT as security for due repayment of the said loan and interest at the

rate aforesaid or any other rate/s notified by the Bank from time to time,

the Stock Exchange do execute in favour of the Bank the documents

referred to below, viz.

a) Demand Promissory Note for Rs.2,50,000/- and interest at the rate

aforesaid in favour of the Bank;

b) Letter of continuing security;

c) Supplemental Deed of Hypothecation of electronic equipment

in terms of the forms of these documents which are produced to the

Governing Board.

3. THAT the said documents, viz.,

i) Demand Promissory Note for Rs. 2,50,000/-

ii) Letter of Continuing Security;

iii) Supplemental Deed of Hypothecation

be signed on behalf of the Stock Exchange by Shri Jayant Amerchand the

President and Shri Vasantlal Champaklal Member of the Governing Board

and countersigned by the Secretary A.J.Shah and the seal of the Exchange

be affixed thereto and that such documents be thereafter delivered to the

Bank.

4. THAT the Stock Exchange hereby declares and assures the Bank that its

total borrowings including the loan facility mentioned above are within

the borrowing limit sanctioned by the resolution passed at the General

Body meeting of the Members of the Stock Exchange held on the 31st

day of August, 1971 viz: Rs.2,50,000/-


concerning the same may be given by and any acknowledgements or

confirmations of debt and/or security which may be required by the

Bank from time to time may be executed on behalf of the Stock

Exchange by the President and a Member of the Governing Board and

countersigned by the Secretary of the Stock Exchange.

6. AND THAT a copy of the foregoing resolutions certified to be a true copy

by the President be furnished to the Bank.

20. Resolved that if necessary, arrangements should be made for obtaining a

loan of Rs. 20 to 25 lakhs from the Central Bank of India against the

Vanadium Steel, Tore Steel etc.

Further resolved that in this connection the resolutions as under should be

passed:

1) RESOLVED that arrangement be made with the Central Bank of

India for a cash credit of Rs.2.5 lakhs against hypothecation of iron

and steel materials with margin and interest as may be fixed by the

Bank from time to time.

2) Also resolved that all necessary documents as may be required by

the Bank be executed on behalf of the Exchange by the President , a

member of the Governing Board and the Secretary and the seal of

the Exchange be affixed thereon.

3) Also resolved that it may be confirmed to the Bank that these

borrowings are within the borrowing powers of the Governing Board

under the Rules, Bye-laws and Regulations of the Exchange.

21. Resolved that a new Current Account be opened with the Central Bank of

India in the name of “The Stock Exchange” and be operated on jointly by

the President, Shri Jayant Amerchand, or the Chairman Shri P.J.

Jeejeebhoy or the Vice-Presidnet Shri Mathradas Samaldas or the Hon-

Treasurer Shri Vasantlal Champaklal and by any one of the following six

members of the Governing Board namely Shri Jivanchand Ratanchand

Motishaw, Shri Rasiklal Maneklal, Shri Hiralal Girdharlal, Shri B.M. Gandhi

Shri Vasantlal Kantilal and Shri Jasvantlal Chhotalal and be countersigned

by the Secretary, Shri A.J. Shah.

22. The application dated 14-3-75 of the near relatives of the late Shri Jal J.

Guzder nominating Shri Baldevdas Ramchand Raheja as a member of the

Exchange in the place of the late Shri Jal J. Guzder was considered and

after interviewing Shri Baldevdas Ramchand Raheja and his recommenders

S/Shri C.S. Goenka and N.C. Lodhiwala it was resolved by 13 votes in

favour and one against to elect Shri Baldevdas Ramchand Raheja as a

member of the Exchange in the place of the late Shri Jal J. Guzder, subject

to the Rules and Regulations of the Exchange.


Pravinchandra Laxmidas Shah nominating Shri Vijaykumar Pravinchandra

Shah as a member of the Exchange in the place of the late Shri

Pravinchandra Laxmidas Shah was considered and after interviewing Shri

Vijaykumar Pravinchandra Shah and his recommenders S/Shri Kantilal

Chhaganlal and Priyakant M. Dalal it was resolved by 14 votes in favour

and none against to elect Shri Vijaykumar Pravinchandra Shah as a

member of the Exchange in the place of the late Shri Pravinchandra

Laxmidas Shah, subject to the Rules and Regulations of the Exchange.

24. The letter dated 8-4-75 of The Vazir Sultan Tobacco Co.Ltd., for the trading

lot of their equity shares from 100 shares to 50 shares was considered and

it was resolved to change the trading lot of the equity shares of that

Company and make it of 50 shares.

25. The letter dated 20-3-75 of Allied Steels Ltd., was considered and it was

unanimously resolved that in view of the facts that the Auditors have

certified receipt of the minimum subscription mentioned in the Prospectus,

after allotment of the shares no application has been withdrawn and refund

demanded and the company’s shares have been admitted in the list of the

Calcutta Stock Exchange since long, the Equity and Preference Shares of

the Company should be included in our list of securities traded on the

Exchange and dealings in those shares should be made in lots of 50 shares

and 5 shares respectively.

26. The letter dated 14-3-75 of Mohta and Heckel was considered and it was

unanimously resolved that if the Company pays the arrears of the Annual

Listing Fee for the year 1974 and the initital Listing fee for re-admission of

its shares to the official list as well as the Annual Listing Fee for the year

1975, then its shares should be re-admitted to our list of securities traded

on the Exchange.




special requirements stipulated by us, their securities mentioned against

their respective names should be admitted to our list of Non-Cleared

securities traded on the Exchange and dealings in those securities should

be done in the trading lots against their names:

Urvi Investments Ltd. Equity 50 shares Willard India Ltd. Equity 50 shares Willard India Ltd. Preference 5 shares Gangappa Cables Ltd. Equity 50 shares Gangappa Cables Ltd. Preference 5 shares Trisur India Ltd. Equity 50 shares Eastern International Hotels Ltd. Equity 50 shares Behar Hotels Ltd. Equity 50 shares Behar Hotels Ltd. Preference 5 shares Behar Foundary & Castings Ltd. Equity 50 shares Globe Auto (Gujarat) Ltd. Equity 50 shares Otis Elevators Co. (India) Ltd. Equity 50 shares Sika Breweries Ltd. Equity 50 shares Scooter India Ltd. Equity 50 shares Vazir Sultan Tobacco Co. Ltd. New Equity 50 shares Industrial Credit and Investment Corporation of India Ltd.

61/4% Debentures (1985).

Maharashtra Electricity Board 43/4% Debentures (1975) 5% Debentures 1976 53/4% Debentures 1977 53/4% Debentures 1976 53/4% Bonds 1978 Second

series 6% Bonds 1979 6% Bonds 1980 6% Bonds 1980 second

series

6% Bonds 1981 6% Bonds 1981 second

series 6% Bonds 1981 third series 6% Bonds 1982 6% Bonds 1983 6% Bonds 1983 second

series 6% Bonds 1984 6% Bonds 1985 6% Bonds 1985 second

series 61/4% Bonds 1986

28. Unanimously resolved that as the undermentioned securities have been

redeemed, they should be removed from our list of securities traded on the

Exchange:

New Standard Engineering Co. Ltd. 9% Cumulative Redeemable Preference Shares

Hindustan Everest Tools Ltd. 9.5% Cumulative Preference Shares

Indian Aluminium Co. Ltd. 61/4% Debentures 1970-75 The Bombay Dyeing and Manufacturing Co. Ltd.

7% Debentures 1973-75

29. As India Firebricks and Insulation Co. Ltd., has not yet paid the Annual

Listing fee for the year 1974, the question of removing its shares from our

list of securities traded on the Exchange was discussed and it was

unanimously resolved that the company should be given time upto 21-5-75

for paying the Annual Listing Fee for the years 1974 and 1975 and it does

not pay that Annual Listing Fee till then, the shares should be removed


30. As Haryana Breweries does not give any reply to our letters, the question

of removing its shares from our list of securities traded on the Exchange

was discussed and it was resolved to warn the Company again and if no

satisfactory explanation is received from the Company within one month,

the matter should again be brought before the Board.

31. Unanimously resolved that as Deccan Farm and Distilleries has not still

completed the listing requirements and has shown carelessness in

furnishing the clarifications called for by us and has also failed to settle the

complaints about which we have written to it, approval given to its listing

application should be withdrawn.


Tuesday, 17-6-75 Meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 P.M. under the Chairmanship of Seth Jayant Amerchand wherein the under mentioned members of the Board were present: Seth Jayant Amerchand Seth J. R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra Chhaganlal Kampani Seth Vasantlal Champaklal Seth A. R. Mahadevia Seth Vasantlal Kantilal Shah Seth Babubhai Maganlal Gandhi Seth Jasvantlal Chhotalal Seth Ashok Girdharilal Fozdar Seth Hiralal Girdharlal Seth Purshottam Gopiram Ruiya Seth Jayantilal Rangildas Khandwala

Government Nominees Shri. M. C. Bhatia Shri M. R. Mayya Shri S. C. Bafna

The following business was transacted in the meeting: 1. The application for help dated 1-6-75 of the The Edulji Framji Allbless Leprosy

Home, Trombay for help was considered and it was resolved to give it a

donation of Rs. 101/- from the Association Funds.

2. Applications of the undermentioned persons of our office staff for giving them

loan was considered and it was resolved to give them loan of the amounts

mentioned against their respective names below:

Shri J.L. Quodros Rs. 1500/-

Sepoy Balkrishna Shinde Rs. 500/-

Sepoy Balkrishna Yeshwant Rs. 1400/-

Watchman S.K.Tal Rs. 1000/-

Hamal Dhonda Shripat Rs. 1000/-

Sewwper Bhagwandas Tiloo Rs. 1200/-

3. The letter dated 27-4-75 of S/Shri Chandratandas Ramratandas Bagri,

Dilipkumar Chandratandas Bagri, Shravankumar Ramkrishna Bagri and

Bharatkumar Chandratandas Bagri, was read and it was noted that Shri

Shravankumar Ramkrishna Bagri had separated from the firm of M/s C.R.D.

Bagri and sons.

4. The application dated 12-5-75 of S/Shri Ratilal Kasturchand and Deepak Ratilal

for partnership between them was considered and it was resolved that the

partnership between them under the firm name of M/s Ratilal Kasturchand

should be approved with effect from 12-5-75.

5. The letters dated 27-5-75 of S/Shri Ramanlal D. Shah and Nagindas Keshavlal

Sanghvi were read and it was resolved to confirm the permission given to Shri

Nagindas Keshavlal Sanghvi to do business as a Representative Member of Shri

Ramanlal D. Shah.

6. The letter dated 19-4-75 of Smt. Sushilal Virendra Dalal was considered and it

was resolved to give permission to Shri Bhogindra Gokaldas Dalal to conditnue

the business of the late Shri Virendra Gokaldas Dalal for 3 months.

7. The letter dated 22-4-75 of Smt. Sushila Brijmohan Nemani and Kum. Nandinin

Brijmohan was considered and ite was resolved to give permission to Shri

Kantilal Hirachand Doshi and Shri Satyanarayan Laxminarayan Sharma to

continue the business of M/s Shivnarayan Nemani for 3 months.

8. The letter dated 5-5-75 of S/Shri V.B. Maniar and P.B.Maniar was read and it

was resolved to give them permission to continue the business of the late Shri

Bapulal Jivraj Maniar for one more month.

9. The letter dated 17-5-75 of S/Shri Jitendra Ratilal and Deepak Ratilal , Smt.

Indumati Ratilal and Kum. Nita Ratilal was considered and it was resolved to

give permission to Shri Deepak Ratilal to continue the business of the late Shri

Ratilal Kasturchand for 3 months.

10. The letter dated 19-5-75 of Smt. Jayanti Narandas and S/Shri Vijaychandra

Narandas Cantol and Dilip Narandas Cantol was considered and it was resolved

to give permission to Shri Vijaychandra Narandas Cantol to continue the

business of M/s Narandas & Sons for one more month.

11. The letter dated 20-5-75 of Smt. Laxmibai Dattaram Patkar and S/Shri Narhar

Dattaram Patkar, Suresh Dattaram Patkar and Anandkumar Dattaram Patkar

and Kum. Alka Dattaram Patkar was considered and it was resolved to give

permission to Shri Narhar Dattaram Patkar to continue the business of M/s A.B.

Patkar & Co., for a period of 3 months.

12. The application dated 19-5-75 of the near relatives of the late Shri Narandas R.

Cantol nominating Shri Vijaychandra Narandas Cantol as a member of the

Exchange in the place of the late Shri Narandas R. Cantol was considered and

after interviewing Shri Vijaychandra Narandas Cantol and his recommenders

S/Shri Virendra K. Patel and Hiralal Chunilal it was resolved by 15 votes in

favour and none against to elect Shri Vijaychandra Narandas Cantol as a

member of the Exchange in the place of the late Shri Narandas R. Cantol,


13. The application dated 14-5-75 of Shri Soli Rustomji Mahimwala nominating Shri

Upendra Motilal Dalal as a member of the Exchange in his own place was

considered and after interviewing Shri Upendra Motilal Dalal and his

recommenders S/Shri Nagindas Pranjivandas and Sevantilal Kantilal it was

resolved by 15 votes in favour and none against to elect Shri Upendra Motilal

Dalal as a member of the Exchange in the place of Shri Rustomji Mahimwala,


14. The application dated 22-5-75 of the near relatives of the late Shri Dhirajlal

Kalidas Choksey nominating Shri Ramesh Dhirajlal Choksey as a member of the

Exchange in the place of the late Shri Dhirajlal Kalidas Choksey was considered

and after interviewing Shri Ramesh Dhirajlal Choksey and his recommenders

S/Shri Pankaj Ishwarlal Kapadia and Champaklal Babubhai Marfatia it was

resolved by 15 votes in favour and none against to elect Shri Ramesh Dhirajlal

Choksey as a member of the Exchange in the place of the late Shri Dhirajlal

Kalidas Choksey, subject to the Rules and Bye-laws of the Exchange.

15. The application dated 22-5-75 of the near relatives of the late Shri Virendra

Gokaldas Dalal nominating Shri Kishan Ratilal Choksey as a member of the

Exchange in the place of the late Shri Virendra Gokaldas Dalal was considered

and after interviewing Shri Kishan Ratilal Choksey and his recommenders

S/Shri Shirish Chimanlal Dave and Champaklal Babubhai Marfatia it was

resolved by 15 votes in favour and none against to elect Shri Kishan Ratilal

Choksey as a member of the Exchange in the place of the late Shri Virendra

Gokaldas Dalal, subject to the Rules and Bye-laws of the Exchange.

16. The application dated 29-5-75 of Shri Jayantilal Jadowji nominating Shri

Vishwanath Mangilal Jhunjhunwala as a member of the Exchange in his own

place was considered and after interviewing Shri Vishwanath Mangilal

Jhunjhunwala and his recommenders S/Shri Bhupendra Chamaklal Dalal and

Debidutt K. Modi it was resolved by 14 votes in favour and none against to

elect Shri Vishwanath Mangilal Jhunjhunwala as a member of the Exchange in

the place of Shri Jayantilal Jadowji, subject to the Rules and Bye-laws of the

Exchange.

17. Resolved that we should take a loan giving our 8% debentures stock 1981-86 as

co-lateral security.

18. Unanimously resolved that the undermentioned securities should be struck off

our list of securities traded on the Exchange as they have been redeemed:

Jugilal Kamlapeth Cotton Spg. & Wvg., Mills Co.Ltd.

81/2% cumulative redeemable preference shares.

The Amalgamated Electricity Co.Ltd. 51/2% and 5% Preference shares. 19. The listing applications of the undermentioned companies were considered







The Southern Borax Ltd. Equity 50 shares Steel and Fasteners Ltd. Equity 50 shares Steel and Fasteners Ltd. Preference 5 shares Guarat Alkalines and Chemicals Ltd. Equity 50 shares J.K. Industries Ltd. Equity 50 shares J.K. Industries Ltd. Preference 5 shares Bohringer Knoll Ltd. Equity 50 shares Diamond Dies & Mfg. Corporation Ltd. Equity 50 shares Rathi Mini Steel Ltd. Equity 50 shares Special Steels Ltd. 11% Reedemable

Convertible Preference Shares – 5 shares

20. Resolved that a notice should be placed as under:

“All the members of the Exchange are hereby informed that the Governing

Board has resolved that if no special condition is made when entering into ex-

dividend transactions in any shares now and hereafter, then such transactions

will be regarded as having been done subject to the following conditions:

Except the transactions entered into on cum-dividend basis in any shares before

transactions in those shares become ex-dividend, which are recorded and

continued at ex-dividend price after making adjustment of dividend, whichever

other ex-dividend transactions are entered into should be settled considering

the price at which they are entered into as the final ex-dividend price. Even if

any change takes place or is made afterwards in the dividend on those shares,

the buyer or the seller will not have any liability for the difference in dividend

caused thereby.

Further, in respect of the cum-dividend transactions which are settled after

closures of the company’s register of members payment/ receipt of the net

dividend should be made on the basis of the dividend originally declared by the

Company. However, if the declared dividends is changed before it is paid then

payment / receipt of net dividend should be made on the basis of the revised

dividend. Similarly, in respect of the cum-dividend transactions conditnued on

ex-dividend basis as mentioned above in the beginning, the buyers and the

seller will be mutually liable to each other and will have to pay such difference in

dividend. The adjustment of dividend accordingly will be considered as final and

if any change is made after its payment, the buyer and the seller will not be

liable for it in any manner”.

Sd/- Sd/- A.J. Shah Jayant Amerchand Secretary President Dt: 19-8-75

Tuesday, 19-8-1975

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.30 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Rasiklal Maneklal Seth Phiroze J. Jeejeebhoy Seth Navinchandra C. Kampani Seth Mathradas Samaldas Seth A.R. Mahadevia Seth Vasantlal Champaklal Seth Babubhai Maganlal Gandhi Seth Vasantlal Katilal Shah Seth Chhotalal Devchand Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar Seth Hiralal Gidharlal Seth Purshottam Gopiram Ruiya Seth J.R. Motishaw Seth Jayantilal Rangildas Khandwala

Government Nominees Shri M.R. Mayya Shri M.C. Bafna

The following business was transacted in the meeting: 1. The application dated 18-6-75 of the Indian Red Cross Society for help was

considered and it was resolved to give it help of Rs.101/- from “Seth K.R.P.

Shroff Stock Exchange Sarvajanik Fund”.

2. The application dated 9-6-75 of Masina Hospital for help was considered

and it was resolved to give it help of Rs.501/- from Seth K.R.P. Shroff


3. The representation dated 12-8-75 and signed by 108 Members for keeping

the market closed on Saturday 6-9-75 as it is the Jain Holiday of Mahavir

Swami’s Birthday celebrations on Tuesday 9-9-75 as it is Association

Holiday of Samvatsari was considered and it was resolved to keep the

market closed on those days entirely for all kinds of business.


them loans were considered and it was resolved to give each of them a

loan of the amount shown against their respective names:

Sepoy Vilas Gyandev Rs. 1250/-


Sepoy D.S. Sarmalkar Rs. 1600/-

Liftman Sitaram Vithal Rs. 1000/-

Hamal Sambhaji Ganpat Rs. 2000/-

5. The letter dated 22-7-75 of S/Shri Kanchanlal Hiralal Nanavati, Niranjan

Kanchanlal Nanavati and Pravinchandra Hirlal Nanavati was read and it was

noted that Shri Pravinchandra Hiralal Nanavati has separated from the firm

of M/s Hiralal Nanavati from 1-7-75.

6. The applications for the undermentioned partnerships were considered and

approved:

Partnership firm’s name Name of Partners Date of Partnership

M/s M.K. Choksey & Co. Shri Ramesh Dhirajlal Choksey 3-7-75

Shri Kisan Ratilal Choksey

Shri Pravin Mangaldas Choksey

Shri Ashok Ratilal Choksey

M/s Narandas & Sons Shri Vijaychandra Narandas Cantol 14-7-75

Shri Dilipkumar Narandas Cantol

7. The letter dated 1-7-75 of Smt. Sushila B. Nemani and Kumari Nandini

Brijmohan Nemani was considered and it was resolved to give permission

to Shri Kantilal Hiralal Doshi and Shri Satyanarayan Laxminarayan Sharma

to continue the business of Ms/ Shivnarayan Nemani for two months more.

8. The letter dated 4-8-75 of S/Shri Jitendra Ratilal and Deepak Ratilal, Smt.

Indumati Ratilal and Kumari Nita Ratilal was considered and it was resolved

to give permission to Shri Deepak Ratilal to continue the business of M/s

Ratilal Kasturchand for two months more.

9. The President referred to the Resolution passed in the meeting of the

Governing Board of the Stock Exchange held on 22nd of July, 1974 and 16th

April, 1975 and reported that Bank of India (hereinafter referred to as “the

Bank”) had at the request of the Stock Exchange agreed to continue to

grant to the Stock Exchange demand loan facilities upto a limit of

Rs.17,50,000/- on terms, conditions, and security mentioned below:

Limit: Rs.17,50,000/-

Term: DEMAND – Without prejudice to the demand nature of the loan, it is

to be repaid within a period of 5 years by annual instalments of Rs.

3.50 lacs each commencing from 26-7-1976.

Rate of Interest : 81/4% over Bank Rate minimum

151/4% per annum with quarterly rests.

Security : 1. Demand Promissory Note by the Stock Exchange in favour of

the Bank.


3. Letter of Lien & Set-off;

4. Agreement of Hypothecation as modified and enlarged by the

Supplemental Deed of Hypothecation in respect of Electronic

computer and other accessories thereof.

The President requested the Governing Board to pass the necessary

resolutions for continuance of the loan facility to confirm the debit balance

in the account, the documents executed and the security created in favour

of the Bank, in terms of the Form L 444 D sent by the Bank.


1. THAT the Stock Exchange do continue to borrow from the Bank from

time to time by way of loan facility on terms as aforesaid and repayable on

demand upto a limit of Rs.17,50,000 with interest at 61/4% over bank rate,

minimum 15% per annum with quarterly rests or such other terms and at

such other rate/s of interest, as may be notified by the Bank to the Stock

Exchange from time to time.

2. THAT the Stock Exchange do confirm and acknowledge the debit balance

in the account, the documents executed and the security created in favour

of the Bank in terms of Form L 444D sent by the Bank and that in token of

such confirmation and acknowledgement the Common seal of the Stock

Exchange be affixed to the said Form L 444D in presence of and the same

may be signed on behalf of the Stock Exchange by Mr. Jayant Amerchand

President and Mr. Jivanchand Ratanchand Motishaw Member of the

Governing Board and countersigned by Mr. Amritlal Jashraj Shah Secretary

of the Stock Exchange.


concerning the same may be given by any acknowledgement or

confirmations debt and/ or security which may be required by the Bank

may be given on behalf of the Stock Exchange as heretofore.

4. AND THAT a copy of the foregoing resolution certified to be a true copy

by the President be furnished to the Bank.

10. “(1) Resolved that arrangement be made with the Bank of Karad

Ltd., for a cash credit limit of Rs.8.50 lakhs against deposit of the 8%

Debenture Stock 1981-86 of the Stock Exchange as collateral security.

(2) Also resolved that all necessary documents as may be

required by the Bank be executed on behalf of the Exchange by the

President, a Member of the Governing Board and the Secretary and the

Seal of the Exchange be affixed thereon.

(3) Also resolved that a cast credit account be opened with The

Bank of Karad Ltd., and be operated on jointly by the President, Shri

Jayant Amerchand or the Chairman Shri P.J. Jeejeebhoy or the Vice-

President Shri Matharadas Samaldas or the Hon. Treasurer Shri Vasantlal

Champaklal and by any one of the following six Members of the Governing

Board namely Shri Jivanchand Ratanchand Motishaw, Shri Rasiklal

Maneklal, Shri Hiralal Girdharlal, Shri B.M. Gandhi, Shri Vasantlal Kantilal

and Shri Jasvantlal Chhotalal and be countersigned by the Secretary, Shri

A.J. Shah.”

11. The application dated 5-7-75 of Shri Mahendra Chimanlal Jhaveri

nominating Shri Babubhai Maganlal Jhaveri as a member of the Exchange

in his own place was considered and after interviewing Shri Babubhai

Maganlal Jhaveri and his recommenders S/Shri Dhirajlal Maganlal and

Jitendra Champaklal Mashruwala it was resolved by 15 votes in favour and

none against to elect Shri Babubhai Maganlal Jhaveri as a member of the

Exchange in the place of Shri Mahendra Chunilal Jhaveri subject to the


12. The application dated 17-6-75 of Shri Harjivan Dosabhai nominating Shri

Jitendra Harjivandas as a member of the Exchange in his own place was

considered and after interviewing Shri Jitendra Harjivandas and his

recommenders S/Shri V.N. Parekh and Keshavlal Laxmidas it was resolved

by 15 votes in favour and none against to elect Shri Jitendra Harjivandas

as a member of the Exchange in the place of Shri Harjivan Dosabhai,


13. The application dated 5-7-75 of the near relatives of late Shri Kantilal

Motiram Vakil nominating Shri Pravin Kantilal Vakil as a member of the

Exchange in the place of the late Shri Kantilal Motiram Vakil was

considered and after interviewing Shri Pravin Kantilal Vakil and his

recommenders S/Shri Bhupendra Champaklal and Jayendra Mehta it was

resolved by 15 votes in favour and none against to elect Shri Pravin

Kantilal Vakil as a member of the Exchange in the place of late Shri Kantilal

Motiram Vakil, subject to the Rules and Bye-laws of the Exchange.

14. The application dated 12-7-75 of the near relatives of late Shri Dattaram

Narhar Patkar nominating Shri Narhar Dattaram Patkar as a member of

the Exchange in the place of the late Shri Dattaram Narhar Patkar was

considered and after interviewing Shri Narhar Dattaram Patkar and his

recommenders S/Shri Pratapsinh Purshottam and V.D. Vyas it was

resolved by 15 votes in favour and none against to elect Shri Narhar

Dattaram Patkar as a member of the Exchange in the place of late Shri

Dattaram Narhar Patkar, subject to the Rules and Bye-laws of the

Exchange.

15. Unanimously resolved that as the undermentioned companies have not still

paid the Annual Listing Fee for the year 1975 though repeatedly

demanded, their shares should be removed from our list of securities

traded on the Exchange with effect from 30-9-75 if they fail to pay that fee

before that date:

Asian Hydrates Ltd. Prestolite of India Ltd. Bhilai Wires Ltd. Surindra Stone Malt Ltd. Bombay Malleable Iron Castings & Allied Industries Ltd.

S.B.Joshi and Co.Ltd.

Bruton and Co. Engineers Ltd. Toshiba Anand Lamps Ltd. Bhopal Toughened Glass Works Ltd.

Vigyan Industries Ltd.

Century Metals Ltd. Vidharba Glass Works Ltd. Dharwar Electrical Industries Ltd. Western India Glass Works Ltd. Jaipur Metals and Electricals Ltd. Mysore Breweries Ltd. Northern India Glass Co.Ltd. Omega Locks & Typewriters Ltd.








Kirti Investments Ltd. Equity 50 shares Peninsular Investments Ltd. Equity 50 shares Vikrant Tyres Ltd. Preference 5 shares Vikrant Tyres Ltd. Equity 50 shares Upper India Bearings and Bushings Ltd. Equity 50 shares Uniloids Ltd. Equity 50 shares Maharashtra Electrosmelt Ltd. Equity 50 shares Tinplate Company of India Ltd. Equity 50 shares Indian Dairy Entrepreneurs Agricultural Co.Ltd.

Equity 50 shares

Kumar Bronze Powders Ltd. Equity 50 shares The Pradesiya Industrial and Investment Corporation of Uttar Pradesh Ltd.

10.25% -Rs.1000/- Debentures

National Co-operative Development Co-operation

6% Bonds – 5 Bonds

American Universal Electric (India) Ltd. Equity 50 shares American Universal Electric (India) Ltd. Preference 5 shares Miles India Ltd. Equity 50 shares Assam Petrochemicals Ltd. Equity 50 shares Assam Petrochemicals Ltd. Preference 5 shares Mindea Chemicals Ltd. Equity 50 shares Triveni Sheet Glass Works Ltd. 11% Preference – 5 shares Godfrey Philips India Ltd. Bonus Equity and New

Equity – 50 shares The Industrial Credit and Investment Corporation of India Ltd.

63/4% 1990- Rs. 5000 debentures

17. The Board considered the matter regarding the correspondence done with

the Premier Tyres Ltd., in consultation with the proposed amendments

made in its Articles of Association recently and deferred the matter for

further consideration.


Wednesday, 8-10-75

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth J. R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Mathradas Samaldas Seth Navinchandra Chhaganlal Kampani Seth Laldas Jamnadas Seth A.R. Mahadevia Seth Vasantlal Champaklal Seth Babubhai Maganlal Gandhi Seth Vasantlal Kantilal Shah Seth Chhotalal Devchand Parekh Seth Jasvantlal Chhotalal Seth Ashok Girdharlal Fozdar Seth Hiralal Girdharlal Seth Purshottam Gopiram Ruiya Seth Jayantilal Rangildas Khandwala

Government Nominees Shri M.C. Bhatt Shri M.R. Mayya Shri S.C. Bafna

The following business was transacted in the meeting: 1. The applications of the undermentioned persons of our office staff for giving

them loans were considered and it was resolved to give them loans as shown

below against their names:

Shri Ambujakshan Rs. 1500/-

Shri Ragunath Keshavji Rs. 3000/-

Sepoy Laxman Tukaram Rs. 2000/-

2. The application dated 6-10-75 of Smt. Gulaben Devidas wife of our late

pensioner Devidas Madhavji was considered and it was resolved to gime her

help of Rs.75/- per month for one more year from the Association Fund and to

write to her that such help will not be continued thereafter.

3. The letter dated 2-9-75 of Smt. Basantidevi Ramanlal Mohta and S/Shri

Ramgopal Mohta, Brijmohan Ramanlal Mohta, Nandkishore Ramanlal Mohta

and Rajratan Ramanlal Mohta was considered and it was resolved to give

permission to Shri Rajratan Ramanlal Mohta to continue the business of M/s

R.G. Mohta for 3 months.

4. The letters dated 29-8-75 of M/s D.A. Shah and Sons and Shri T.H. Eidnani

were considered and it was resolved to give permission to Shri T.H. Eidnani to

do business as a Representative Member of M/s D.A. Shah and Sons.

5. The undermentioned partnerships were approved:

Name of Partnership Name of Partners Date of Partnership firm

Firm M/s Narottam B. Jhaveri

Shri Narottam Bhikhubhai Jhaveri Shri Kamal Narottam Jhaveri

1-7-75

M/s K. Motiram Vakil Shri Pravin Kantilal Vakil Shri Mahesh Kantilal Vakil

18-9-75

M/s Nagarmal Saraf Shri Nagarmal Shrinivas Saraf Shri Murarilal Nagarmal Saraf

20-4-75

6. The letter dated 6-10-75 of Shri Sam Chunilal Navandev was considered and it

was resolved to give him permission to do business in the market in his own

name with effect from 3-11-75.

7. The application dated 13-8-75 the near relatives of the late Shri Brijmohan

Surajmal Nemani nominating Shri Anupam Brijmohan Nemani as a member of

the Exchange in the place of late Shri Brijmohan Surajmal Nemani was

considered and after interviewing Shri Anupam Brijmohan Nemani and his

recommenders S/Shri K.M. Nemani and Ramniklal Nanalal it was resolved by

15 votes in favour and none against to elect Shri Anupam Brijmohan Nemani

as a member of the Exchange in the place of late Shri Brijmohan Surajmal

Nemani, subject to the Rules and Bye-laws of the Exchange.

8. As the undermentioned companies have paid-up the Annual Listing Fee for the

year 1974 it was unanimously resolved to re-admit their securities to our list

of securities traded on the Exchange:

Surindra Stain Malt Ltd.

The Dharwar Electrical Industries Ltd.

Jaipur Metals and Electricals Ltd.

At this point of time Shri Jasvantlal Chhotalal came and joined the meeting.



as well as compliance with the usual requirements and the special

requirements stipulated by us their undermentioned securities should be

admitted to our list of securities traded on the Exchange and dealings in those

securities should be done in the trading lots shown against their respective

names:

Textile Processing Corporation of India Ltd. Equity 50 shares Textile Processing Corporation of India Ltd. Preference 5 shares Hyderabad Vanaspati Ltd. Equity 50 shares Hyderabad Vanaspati Ltd. 9.5% Preference 5

shares Hyderabad Vanaspati Ltd. 11% Preference 5 shares

Hyderabad Carbons and Chemicals Ltd. Equity 50 shares Hyderabad Carbons and Chemicals Ltd. Preference 5 shares A.E.W. Jenson Ltd. Equity 50 shares Purulia Steels Ltd. Equity 50 shares Rishabh Ispat Ltd. Equity 50 shares Hotel Banjara Ltd. Equity 50 shares Orissa Industries Ltd. Equity 50 shares Apollo Tyres Ltd. Equity 50 shares Apollo Tyres Ltd. Preference 5 shares The State Industrial and Investment Corporation of Maharashtra Ltd.

61/4% Bonds 1985.

Colour Chem Ltd. 11% Preference 5 shares 10. The letter dated 11-8-75 of the Bank of Baroda was considered and it was

unanimously resolved as that company has been amalgamated with Mahindra

Ugine Steel Ltd., its shares should be removed from our list of securities


11. The letter dated 18-9-75 of the Defaulters’ Committee regarding defaulter Shri

Sobhagyachand Mohanlal Shah was read and noted.

12. The correspondence with the Premier Tyres Ltd., in connection with the

proposed amendments made by the Company recently in its Articles of

Association was considered and that matter was postponed for further

consideration.


Tuesday, 21-10-75

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Mahradas Samaldas wherein the undermentioned members of the Board were present: Seth Mathradas Samaldas Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Rasiklal Maneklal Seth Laldas Jamnadas Seth Navinchandra C. Kampani Seth Vasantlal Champaklal Seth Babubhai Maganlal Gandhi Seth Vasantlal Katilal Shah Seth Ashokkumar G. Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya Seth Hiralal Gidharlal Seth Jayantilal Rangildas Khandwala


The following business was transacted in the meeting: 1. Seth L.A. Munjal, Jt. Director, Stock Exchange Division, Department of

Economic Affairs, Ministry of Finance was invited and welcomed. The

President thanked him for accepting the invitation and for his august

presence in the meeting. He introduced him to the meeting of the Board.

2. Resolved that our market should be kept open on Monday, 3-11-75 from

S.T. 6.00pm to 7 pm for doing Muhurat transactions for the Kartik Vikram

Samvat 2032.

3. The undermentioned partnership was approved:


Name of Partners Date of Partners

M/s Shivnarayan Nemani

Shri Anupam Brijmohan Nemani Shri Vijaychandra Shrigopal Ganeriwala

23-10-75

M/s Harjivandas Nemidas & Co.

Shri Pranjivandas Harjivandas Shri Prasann Pranjivandas Shri Bharat Pranjivandas Shri Jayant Pranjivandas

23-10-75

M/s Natverlal Champaklal & Co.

Shri Natverlal Balubhai Choksey Shri Kishore Natverlal Choksey Shri Champaklal Balubhai Marfatia Shri Ram Champaklal Marfatia

4-11-75



5. The letter dated 9-10-75 of our Auditors, M/s S.B. Bilimoria & Co., asking

for an increase in their remuneration for auditing our Accounts was

considered and it was unanimously resolved to increase their remuneration

and pay them Rs.5000/- per annum from the year 1975 and to make

recommendation to the Governing Board accordingly. Furhter resolved that

for auditing the accounts of the Trust Funds their remuneration should be

increased and fixed as under from the year 1975:

The Stock Exchange Education and Research Services

Rs. 500/-

The Stock Exchange Foundation Rs. 500/- Seth K.R.P.Shroff Stock Exchange Sarvajanik Fund Rs. 250/- Shri M.C. Mehta Smarak Fund Rs. 250/- Distress Relief Fund Rs. 50/- Famine Relief Fund Rs. 50/- Charity Fund Rs. 50/- Seth Shantilal Jamnadas Smarak Fund Rs. 50/- Seth M.C. Baxi Prize Fund Rs. 50/-

6. Unanimously resolved that as the undermentioned securities have been

redeemed, they should be removed from the list of securities traded on the

Stock Exchange:

Hindustan Petroleum Corporation Ltd.

6% preference shares


6% debentures (1975-77)

7. As the undermentioned companies have paid the Annual Listing fee for the

year 1974 it was unanimously resolved to re-enter their securities for

trading on the Exchange:

Bhopal Toughened Glass Works Ltd.

Brunton & Co. Engineers Ltd.

Asian Dehydrates Ltd.








Sugar Investments Ltd. Equity 50 shares

Uttar Pradesh Straw and Agro Products Ltd.

Equity 50 shares

Madhya Pradesh Audyogic Vikas Nigam Ltd.

61/4% Bonds (1985).

Dabriwala Steel and Engineering Co.Ltd. 10.25% Debetures 9. The matter regarding the amendments secretly made in the Articles of

Association of Premier Tyres Ltd., as proposed was discussed and Shri

Chandrakant S. Desai, the Chairman of the Company was also heard. It

was resolved that the Board recognised existence of the problem. However,

as the proposed alterations and additions do not appear to be fit for a

public limited listed company and are also likely to have more

repercussions than the object in view, the Company should find out some

other solution and we cannot give approval for the proposed amendments

and alterations.

10. Resolved that an amount of Rs. 6,50,000/- should be given from the Stock

Exchange Education and Research Services Fund to the Stock Exchange

Foundation on condition that half of it namely Rs. 3,25,000/- will be

regarded as corpus.


Tuesday, 3-2-76

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 P.M. under the Chairmanship of Seth Jayant Amerchand wherein the under mentioned members of the Board were present: Seth Jayant Amerchand Seth Navinchandra Chhaganlal Kampani

Seth Phiroze J. Jeejeebhoy Seth A. R. Mahadevia

Seth Mathradas Samaldas Seth Babubhai Maganlal Gandhi

Seth Vasantlal Champaklal Seth Chhotalal Devchand

Seth J. R. Motishaw Seth Ashok Girdharilal Fozdar

Seth Rasiklal Maneklal Seth Jayantilal Rangildas Khandwala

Government Nominees

Shri M. R. Mayya The following business was transacted in the meeting: 1. Expressing a deep sense of sorrow of the sad demise of the wife of Seth

Babubhai M Gandhi two minutes silence was observed standing up in her

honour.

2. The application for help of the Maharashtra State Amateur Athletic Association

was read and it was resolved to confirm the help of Rs.500/- given to it from


3. The applications of the undermentioned organizations were considered and it

was resolved to give each of them Rs.101/- as help from the Association Fund:

1. The Tata Agricultural and Rural Training Centre for the Blind.

2. The Bombay Dumb and Deaf Institution.

3. The Maharashtra Tuberculosis Association.

4. The application dated 30-11-75 of Sarvodaya Arogya Nidhi was considered and

it was resolved that we cannot give any help to it.

5. The application dated 12-12-75 of Shri G.N. Kunder for giving him help of

Rs.160/- for medical treatment expenses incurred by him was considered and it

was resolved to give him help of Rs.80/- from the Seth K.R.P. Shroff Stock


6. Resolved to give approval to the loan of Rs.3500/- given to our accountant Shri

A.B.Desai and the loan of Rs.2000/- given to our liftman Maruti Govind Gujmal.

7. The application of the undermentioned persons of our office staff to give thme

loans were considered and it was resolved to give loans to them of the amounts

mentioned against their names:

Hamal Ravji Babu Rs.2000/-

Hamal Mahadev Lakhu Rs. 2000/-

Sweeper Khachera Dhureram Rs. 1000/-

8. The letter dated 24-12-75 of S/Shri Noshir Nanabhoy Saher and Babubhai

Maganlal Gandhi was read and it was noted that Shri Babubhai Maganlal Gandhi

had separated from the firm of M/s Merwanjee Bomanji Dalal with effect from

31-12-75.

9. The letter dated 23-11-75 of S/Shri Kantilal Maganlal Purshottamdas and

Ishwarlal Maganlal Purshottamdas was read and it was noted that Shri Kantilal

Maganlal Purshottamdas had separated from the firm of M/s Ishwarlal Kantilal &

Co.

10. The letter dated 11-2-75 of S/Shri Jamnadas Sankalchand and Harivallabhdas

Chunilal was read and it was noted that Shri Harivallabhdas Chunilal had

separated from the partnership firm of M/s Sankalchand Damodardas with effect

from 3-1-76.

11. The letter dated 8-11-75 of S/Shri A.R. Mahadevia, M.S. mahadevia,

V.A.Mahadevia, G.B. Desai, B.J. Mahadevia, A.A. Mahadevia, J.A. Mahadevia

and M.A. Mahadevia was read and it was noted that Shri Hariprasad

Sambhuprasad Mahadevia had separated from the partnership firm of

Mahadevia Brothers with effect from 4-11-75.

12. The application for partnership of S/Shri Jamnalal Maruplal, Sumatilal Jamnalal,

Niranjan Jamnalal, Yogesh Sumatilal and Paresh Sumatilal was considered and it

was resolved to approve their partnership under the firm name of M/s Sumatilal

Jamnalal with effect from 4-11-75.

13. The letter dated 28-10-75 of Shri Jitendra Ratilal, Shri Deepak Ratilal, Smt.

Indumati Ratilal and Kumari Nita Ratilal was read and it was resolved to give

permission to Shri Deepak Ratilal to continue the business of the late Shri Ratilal

Kasturchand for one more month.

14. The letter dated 28-11-75 of Smt. Basantidevi Mohta and S/Shri Ramgopal

Ramanlal Mohta, nandkishore Ramanlal Mohta, Brijmohan Ramanlal Mohta and

Rajratan Ramanlal Mohta was read and it was resolved to confirm the

permission given to Shri Ramgopal Ramanlal Mohta to continue the business of

M/s R.G. Mohta for two more months.

15. The letter dated 2-2-76 of Smt. Hiramati Pranjivandas and S/Shri Prasanna

Pranjivandas Broker,Bharat Pranjivandas Broker, Jayant Pranjivandas Broker

and Hemant Pranjivandas Broker was read and it was resolved to give

permission to Shri Prasann Pranjivandas Broker to continuer the business of M/s

Harjivandas Nemidas & Sons for 3 months.

16. The application of Shri Surendra Motilal Purohit dated 13-11-75 nominating Shri

Vinodkumar Bhagwati Prasad Rungta was a member of the Exchange in his own

place was considered and after interviewing Shri Vinodkumar Bhagwati Prasad

Rungta and his recommenders Shri Brijmohan Sagarmal it was resolved by 10

votes in favour and none against to elect Shri Vinodkumar Bhagwatiprasad

Rungta as a member of the Exchange in the place of Shri Surendra Motilal

Purohit, subject to the Rules and Bye-laws of the Exchange.

Shri A.R. Mahadevia came and joined the meeting at this time.

17. The application dated 28-10-75 of the near relatives of the late Shri Ratilal

Kasturchand nominating Shri Deepak Ratilal as a member of the Exchange in

the place of the late Shri Ratilal Kasturchand was considered and after

interviewing Shri Deepak Ratilal and his recommenders S/Shri Govindbhai B.

Amin and Rasiklal Manilal Shah it was resolved by 11 votes in favour and none

against to elect Shri Deepak Ratilal as a member of the Exchange in the place

of late Shri Ratilal Kasturchand, subject to the Rules and Bye-laws of the

Exchange.

18. The application dated 24-11-75 of the near relatives of the late Shri R.G. Mohta

nominating Shri Ramgopal Ramanlal Mohta as a member of the Exchange in

the place of the late Shri R.G. Mohta was considered and after interviewing Shri

Ramgopal Ramanlal Mohta and his recommender Shri Gaurishankar B.

Churiwala it was resolved by 11 votes in favour and none against to elect Shri

Ramgopal Ramanlal Mohta as a member of the Exchange in the place of late

Shri R.G. Mohta, subject to the Rules and Bye-laws of the Exchange.

19. The letters dated 3-1-76 of M/s Khimji Poonja & Sons and Shri Ramniklal

Mangaldas was read and it was resolved to confirm the permission given to Shri

Ramniklal Mangaldas to do business as a Representative Member of M/s Khimji

Poonja & Sons.

20. The letter dated 21-1-76 of S/Shri Ramniklal Mohanlal and Jeramdas Dulomal

Jasnani were read and it was resolved to give permission to Jeramdas Dulomal

Jasnani to do business as a Representative Member of Shri Ramniklal Mohanlal.

21. The letter dated 2-2-76 of Shri Bipin Ratilal Kapadia wanting to buy one

membership right of the Exchange at a price of Rs. 27500/- was read and it was

resolved to sell one membership right to him at that price and to consider that

membership right as of late Shri Bhaidas Gulabchand.

22. Resolved that the following amendments be made in Appendix B to Regulation 2

of the Stock Exchange Rules, Bye-laws and Regulations, 1957.

In sub-clause ( c) of clause 3 for the words “endorsement of calls”,

“endorsement of calls/ allotment monies” shall be substituted.

In sub-clause (e) of clause 4, for the words “recognized stock exchanges”, the

words “recognized stock exchanges in India” shall be substituted.

In clause 6, after the words “the Company will” and before the words “make on

transfers”, the word “promptly” shall be inserted.

In clause 10, after the words, “Company will” and before the words “verify the

signature”, the word “promptly” shall be inserted.

Clause 16 shall be substituted by the following, namely:

“16. The Company agrees to close its Transfer Books for purposes of

declaration of dividend or issue of right or bonus shares or for such other

purposes as the Exchange may agree to or requires and further agrees to close

its Transfer Books at least once a year at the time of the Annual General

Meeting if they have not been otherwise closed at any time during the year and

to give to the Exchange notice in advance of at least twenty-one days, or of as

many days as the Exchange may form time to time reasonably prescribe,

stating the dates of closure of its Transfer Books (or, when the Transfer Books

are not to be closed, the date fixed for taking a record of its shareholders or

debenture holders) and specifying the purpose or purposes for which the

Transfer Books are to be closed (or the record dated is to be taken) and to send

copies of such notices to other recognized Stock Exchanges in India.”

In clause 19, after the words “bonus issue” and before the words “is due to be

considered”, the words “or the passing over of dividend” shall be inserted.

In sub-clause b) of clause 20, after the word “the” and before the words

“net profits”, the words “total turnover, gross profit/loss, provision for

depreciation, tax provisions and” shall be inserted and the words “with

particulars of the estimated tax liabilities” shall be deleted.

In clause 21, for the words “the dividend warrants” the words

“simultaneously the dividend warrants which shall be encashable at par at all

the branches of its bankers” shall be substituted.

In sub-clause 9a) of clause 31, after the words “are issued”, the words

“and one copy each to all the recognized stock exchanges in India” shall be

inserted.

In sub-clause (e) of clause 31, for the word “reconstruction”, the words

“reconstruction”, reduction of capital” shall be substituted.

After clause 39, at the end, the following proviso shall be inserted, namely:

“PROVIDED ALWAYS AND THE COMPANY HEREBY IRREVOCABLY AGREES

AND DECLARES THAT unless the Exchange agrees otherwise the Company will

not without the previous permission in writing of the Central Government

withdraw its adherence to this agreement for listing its securities”.

23. It was noted that the Chairman had declared M/s Devkaran Nanjee & Co., as a

defaulter as it had failed to meet its liabilities according to the decisions of the

Arbitration Committee against it.

24. The report dated 28-1-76 of Shri Shapurji Broacha Brokers Helping fund

Committee was read and it was approved.

25. Unanimously resolved that as the 7% Debentures Stock 1971/76 of Indian

Aluminum Co. Ltd., has been redeemed it should be removed from our list of


26. As Omega Locks and Typewriters Ltd., had failed to pay the Annual Listing Fee

for the year 1974 it was unanimously resolved to remove its shares from our list

of securities traded on the Exchange.








1.Usha Martin Black (Wire Ropes) Ltd. Equity 50 shares

Usha Martin Black (Wire Ropes) Ltd. ‘A’ Preference 5 shares

Usha Martin Black (Wire Ropes) Ltd. ‘B’ Preference 5 shares

2. Jay Electric Wire Corporation Ltd. Equity 50 shares

Jay Electric Wire Corporation Ltd. Preference 5 shares

3. Mahavir Spinning Mills Ltd. Equity 50 shares

Mahavir Spinning Mills Ltd. Preference 5 shares

4. Transport Corporation of India Ltd. Equity 50 shares

5. Sundaram Elex Ltd. Equity 50 shares

6. Denison Hydorlics India Ltd. Equity 50 shares

Denison Hydorlics India Ltd. Preference 5 shares

7. Brindavan Alloys Ltd. Equity 50 shares

Brindavan Alloys Ltd. Preference 5 shares

8. Punjab Con-cast Steels Ltd. Equity 50 shares

9. Derco Cooling Coils Ltd. Equity 50 shares

Derco Cooling Coils Ltd. Preference 5 shares

10. Modern Proteins Ltd Equity 50 shares

11. Investment and Precision Castings Ltd. Equity 50 shares

12. Deccan Wires Ltd. Equity 50 shares

13. Andhra Pradesh Scooters Ltd. Equity 50 shares

14. Marthi Crysttal Salt Co.Ltd. Equity 50 shares

15. Neomar Ltd. Equity 50 shares

16. Hindustan Electro Graphites Ltd. Equity 50 shares

Hindustan Electro Graphites Ltd. Preference 5 shares

17. Shree Minakshi Sundaram Textiles Ltd. Equity 50 shares

18. T.K. Chemicals Ltd. Equity 50 shares

19. Aravalli Swachit Vahan Ltd. Equity 50 shares

20. Katihar Jute Mills Ltd. Equity 50 shares

21. Kamalakshi Finance Corporation Ltd. Equity 50 shares

22. Ashok Leyland Ltd. Equity 50 shares

23. Industrial Finance Corporation of India 73/4% Debentures –

Rs.1000/-.

Industrial Finance Corporation of India 6% Bonds (second series)

28. Holidays of our Association for the year 1976 was decided.

Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President Dt: 18-5-1975

Tuesday, 18-5-76

A meeting of the Governing Board of the Stock Exchange was held at S.T. 3.30 P.M.

under the Chairmanship of Seth Mathradas Samaldas in the beginning and thereafter

under the Chairmanship of Seth Jayant Amerchand wherein undermentioned members of

the Board were present:

Seth Jayant Amerchand Seht Navinchandra Chhaganlal Kampani

Seth Phiroze J. Jeejeebhoy Seth A. R. Mahadevia

Seth Mathradas Samaldas Seth Hiralal Girdharlal

Seth Rasiklal Maneklal Seth Babubhai Maganlal Gandhi

Seth Laldas Jamnadas Seth Jayantilal Rangildas khandwala

Seth J. R. Motishaw Seth Chhotalal Devchand Parekh

Seth Vasantlal Champaklal Seth Vasantlal Jivatlal

Seth Purshottam Gopiram Ruiya

Government Nominees

Shri M. R. Mayya Shri S. C. Bafna

Dr. S. L. Shety ( Alternate)

The following Business was transacted in the meeting

1. Proposed by Seth J. R. Matishaw and supported by Seth Purshottam Gopiram Ruiya,

Seth Mathradas Samaldas was unanimously elected as Chairman of the meeting.

2. Proposed by Seth Mathuradas Samaldas and supported by Seth Rasiklal Maneklal

Seth Jayant Amerchand was unanimously elected as the President.

Seth Mathradas Samaldas handed over the Chairmanship to Seth Jayant Amerchand

and also congratulate the members of the Board.

Seth Jayant Amerchand thanked for the trust reposed in him by all the members of

the Board. He made mention of the appointment of Dr. S. L. Shety as on alternate

Government nominee on the Board and welcomed him.

Expressing a source of gratitude for the support and co-operation by all the members

of the Board and Government nominees last year he expressed hope that during the

current year also they would continue to give support and co-operation on the same

way.

3. Proposed by the Seth Rasiklal Maneklal and supported by Seth J. R. Motishaw Shri

Mathradas Samaldas was unanimously elected as the Vice-President.

4. Proposed by Seth Hiralal Girdharlal and supported by Seth Laldas Jamnadas, Seth

Vasantlal Champaklal was unanimously elected as the Hon. Treasurer.

5. Resolved that the under mentioned members are appointed as members of the


Shri Keki N. Chinoy Shri S. M. Shah

Shri Jayantilal M. Dalal Shri Ngindas Trambakal Parekh

Shri M. L. Kazi Shri V. K. Nanavati

Shri L. N. Kapadia Shri Jayendra D. Mehta

Shri D. U. Shukla Shri Rasiklal S. Jhaveri

Shri Hariram Dwarkadas Shri Govindbhai B. Desai

Shri Bhagubhai Amritlal Gandhi Shri Jitendra Champaklal Mashruwala

Shri Champaklal Babubhai Marfatia Shri Ramdas Lallubhai

6. Resolved to appoint Defaulter’s Committee for the year 1976-77 considering of the

Undermentioned members:

Seth Vasantlal Champaklal Seth Jayantilal Mansukhlal Dalal

Seth Vasantlal Kantilal Shah Seth Rasiklal S. Jhaveri

Seth Jasvantlal Chhotalal Seth Nagindas Trambaklal Parekh

7. Resolved to appoint Sir Shaporji Brocha Brokers Helping Fund committee considering

of the under mentioned members

Seth J. R. Motishaw Seth Vasantlal Champaklal

Seth Mathradas Samaldas Seth Dhirajlal Maganlal

8. Resolved to appoint Building Committee consisting of S/Shri Mathradas Samaldas,

Vasantlal Kantilal Shah and Jasvantlal Chhotalal

9. Resolved that cheques be signed by the President Shri Jayant Amerchand or the

Chairman Shri P. J. Jeejeebhoy or the Vice President Shri Mathradas Samaldas, or

the Hon. Treasurer Shri Vasantlal Champaklal and any one of the following seven

members of the Governing Board, namely, Shri Rasiklal Maneklal, Shri Navinchandra

C. Kampani, Shri Hiralal Girdharlal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah,

Shri Jasvantlal Chhotalal, and Shri A. R. Mahadevia and be countersigned by the

Secretary Shri A. J,. Shah and in his absence by Shri S. N. Karaka or Shri M. D. Vyas.

10. Resolved that the various Accounts and safe Custody Accounts of the Exchange with

Bank of India be operated on jointly by the President, Shri Jayant Amerchand, or the

Chairman Shri P. J. Jeejeebhoy, or the Vice President Shri Mathradas Samaldas, or

the Hon. Treasurer Shri Vasantlal Champaklal and by any one of the following seven

members of the Governing Board namely, Shri Rasiklal Maneklal, Shri Navinchandra

C. Kampani, Shri Hiralal Girdhrlal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah and

Shri A. R. Mahadevia and be countersigned by the Secretary Shri A. J. Shah and in

his absence by Shri S. N. Karaka or Shri M. D. Vyas.

11. Resolved that the Current Accounts and Safe Custody Accounts with the Bank of

India in the name of The Stock Exchange Staff Provident and the Stock Exchange

Staff gratuity Fund be operated on either by any two of the Trustees of the Exchange

for the time being or the survivors of survivor of them or jointly by the Hon.

Treasurer , Shri Vasantlal Champaklal and any one of the following seven members

of the Governing Board namely, Shri Rasiklal Maneklal, Shri Navinchandra C.

Kampani, Shri Hiralal Girdharlal, Shri B. M. Gandhi, Shri Vasantlal Kantilal Shah, Shri

Jasvantlal Chhotalal and Shri A. R. Mahadevia and be countersigned by the

Secretary, Shri A. J. Shah, and in his absence by Shri S. N. Karaka or Shri M. D.

Vyas.

12. The application dated 31.01.76 for help of the All India Federation of the Deaf was

considering and it was resolved to give at the help of Rs. 101/- from the Association

Fund.

13. The applications dated 6-4-76 and 6-5-76 of our havaldar Shankar Ratonji and Sepoy

Ramchandra Mahadev respectively for giving them help for the expenses incurred by

them for medical treatment during their sickness were considered and it was resolved

to give help of Rs. 120/- and Rs. 245/- respectively from the Seth K.R.P. Shroff Stock


14. Resolved to confirm the loan of Rs.2,000/- given to our officer Shri M. D. Vyas.

15. The applications of there undermentioned employees was considered and it was

resolved to give them loans of the amounts mentioned against their respective

names:

Shri KVB Shankar Rao Rs.2,500/-

Shri H. A. Patni Rs.3,000/-

Shri V. K. Sharma Rs.2,700/-

Shri M. K. Shivraman Rs.2,000/-

Shri G. S. Tompe Rs.1,400/-

Liftman Tukaram Laxman Rs.1,100/-

Sepoy Pandurang Ziloo Rs.1,200/-

Sepoy Balkrishna Shinde Rs.750/-

Sepoy Balkrishna Yashvant Rs. 900/-

Sweeper Chhangaram Gangaram Rs.500/-

Sweeper Bhagwandas Tillu Rs.800/-

16. The letter dated 2-7-76 of S/Shri Anupam Brijmohan Nemani and Vijay Kumar Shri

Gopal Ganeriwala was considered and it was resolved to note that Shri Vijay Kumar

Shri Gopal Ganeriwala had separated from the firm M/s. Shivnarayan Nemani and

Shri Brijmohan Nemani had from that date continued to do business as the sole

proprietor of that firm.

17. The application dated 15-4-76 S/Shri Jayantilal Rangiladas Khandwala, Ashok

Jayantilal Khandwala and Paresh Jayantilal Khandwala for their partnership was

considered and it was resolved to approve their partnership under the firm name of

M/s. Jayantilal Khandwala & Sons with effect from 3-5-76

18. The letter dated 15-2-75 of M/s. Mangaldas Keshavlal and Shri Ajitkumar C. Kamdar

were considered and it was resolved to give permission to Shri Ajitkumar C. Kamdar

to do business as a representative member of M/s. Mangaldas Keshavlal on condition

that he should not issue contracts to his clients in his own name.

19. The letter dated 18-5-76 of M/s. D. A. Shah & Sons and Shri Amarchand Lallubhai

Sukhadia were considered and it was resolved to give permission to Shri Amarchand

lallubhai Sukhadia to do business as Representative member of M/s. D. A. Shah &

Sons on considered that Shri Amarchand lallubhai Sukhadia should not issue

contracts to clients to his own name.

20. The letter dated 8-4-76 of Shri J.T. Halai asking for permission to do business in the

market in his own name was considered and it was resolved that his request cannot

be granted and in that connection his attention should be drawn to our letter dated

3-4-74.

21. The application dated 22-4-76 of the near relatives of the late Shri Narottamdas

Bhikhubhai Jhaveri nominating Shri Kamal Marottam Jhaveri as a member of the

Exchange in the place of late Shri Narottamdas Bhikhubhai Jhaveri was considered

and after interviewing Shri Kamal Narottam Jhaveri and his recommenders Shri

Suresh K. Vakil it was resolved by 14votes in favour and none against to elect Shri

Kamal Narottam Jhaveri as a member of the Exchange in the place of late Shri

Narottamdas Bhikhubhai Jhaveri, subject to the Rules Bye-laws of the Exchange.

22. The application dated 4-2-76 of Shri Bipin Kantilal Kapadia for membership of the

Exchange was considered and after interviewing Shri Bipin Kantilal Kapadia and his

recommenders Shri Ishwaelal T. Nanavati, it was resolved by 14 votes in favour and

none against to elect Shri Bipin Kantilal Kapadia as a member of the Exchange,

subject to the Rules and Bye-laws of the Exchange, and membership Right sold to

him should be considered as that of the late Shr Bhaidas Gulabchand

23. The Application dated 26-3-76 of the near relatives of the late Shri Keshav Vasantrao

Raut nominating Shri Bharat Sumant Raut as a member of the Exchange in the place

of late Shri Keshav Vasantrao Raut was considered and after interviewing Shri Bharat

Sumant Raut and his recommender Shri Hiralal Chunilal it was resolved by 14 votes

in favour and none against to elect Shri Bharat Sumant Raut as a member of the

Exchange in the place of late Shri Keshav Vasantrao Raut, subject to the Rules and

Regulations of the Exchange on the condition that he should not do business in the

market in his own name for two years.

24. The application dated 4-2-76 of the near relatives of the late Shri Pranjivandas

Harjivandas nominating Shri Prasanna Pranjivandas Broker as a member of the

Exchange in the place of late Shri Pranjivandas Harjiandas was considered and after

interviewing Shri Prasanna Pranjivandas Broker and his recommenders S/Shri

Dhansukhlal Keshavlal and Manmohandas Keshavlal it was resolved by 14 votes in

favour and none against to elect Shri Prasanna Pranjivandas as a member of the

Exchange in the place of late Shri Pranjivandas Harjivandas, subject to the Rules and

Bye-laws of the Exchange.

25. The letter dated 24-1-76 of the Bhopal Sugar Industries Ltd. requesting for

transferring its shares form the list of cleared securities to the list of non-cleared

securities was considered and it was resolved to place its shares on the list of non-

cleared Securities from 12-6-76

26. Unanimously resolved that as 8.325% Preference shares of Poly Chem Ltd. have

been redeemed they should be struck off our list of securities traded on the

Exchange.

27. The letter of the recommendation companies were considered and it was

unanimously resolved that as they do not want to continue listing of their securities

on the Exchange, their securities should be struck off the list of securities traded on

the Exchange.

28. As Bhilai Wires Limited has paid up the Annual Listing fee for the year 1975 and 1976

it was unanimously resolved to readmit their securities to our list of securities traded

on the Exchange.

29. The listing application of the under mentioned companies were considered and it was

unanimously resolved that, subject to the Listing Rules and Regulations and


us as may be the deemed proper by the Chairman, their below mentioned securities

admitted to the list of non-cleared securities traded on the Exchange and dealing

therein should be done in trading lots showing against them:

1. Modern Coats Ltd. Equity – 50 Shares

Modern Coats Ltd. Preference – 5 Shares

Modern Coats Ltd. 7 ¾ % Debentures Rs.1,000/-

2 Simon Carves Ltd. Equity – 50 Shares

3 International Combustion India Ltd. Equity – 50 Shares

4 Modella Steel & Alloys Ltd. Equity – 50 Shares

5 Perfect Circle Victor Ltd. Equity – 50 Shares

6 Drilco Metal carbide Ltd. Equity – 50 Shares

7 Sinner Bidi Udyog Ltd. Equity – 50 Shares

8 Coastal Papers Ltd. Equity – 50 Shares

Coastal Papers Ltd. Preference – 5 Shares

9 Veneers & Laminations India Ltd. Equity – 50 Shares

10 Lakshmi Automatic Loom Works Ltd. Equity – 50 Shares

11 Rexroth Maneklal Industries Ltd. Equity – 50 Shares

12 Meckanon Meckenzy & Co. Ltd. Equity – 50 Shares

13 Sunrise Investment Trading Ltd. Equity – 50 Shares

14 Digital Electronics Ltd. Equity – 50 Shares

15 DSP Financial Consultants Ltd. Equity – 50 Shares

16 Polymer Papers Ltd. Equity - 50 Shares

17 Keltron Components Complex Ltd. Equity – 50 Shares

Keltron Components Complex Ltd. Preference – 5 Shares

18 Meena Air Products Ltd. Equity – 50 Shares

Meena Air Products Ltd. Preference – 5 Shares

19 Nirlon Synthetic Fibers and Chemical Ltd. Equity – 50 Shares

20 Kasturi Papers, Foods and Chemical Ltd. Equity – 50 Shares

21 Andhra Pradesh Steel Ltd. Equity – 50 Shares

Andhra Pradesh Steel Ltd. Preference – 5 Shares

22 Maharashtra Electricity Board 6 ¼ % 1985 – Bonds

Maharashtra Electricity Board 6 ¼ % 1985 Bonds (II)

23 The Industrial Credit and Investment


6 ¼ % 1991 Debenture

24 Kirloskar Cummins Ltd. 11 % preference 50 Shares

25 Alfred Herberts India Ltd. New Equity – 50 Shares


Date: 20-7-76

Tuesday, 20-7-76

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Champaklal Seth Phiroze J. Jeejeebhoy Seth Navinchandra Chhaganlal Kampani Seth Mathradas Samaldas Seth A. R. Mahadevia Seth Rasiklal Maneklal Seth Hiralal Girdharlal Seth Laladas Jamnadas Seth Babubhai Maganlal Gandhi Seth Vasantlal Kantilal Shah Seth Jayantilal Rangildas Khandwala Seth J. R. Motishaw Seth Chhotalal Devchand Parekh Seth Vasantlal Jivatlal Seth Purshottam Gopiram Ruiya

Government Nominees Shri M.R. Mayya Shri S.C. Bafna Shri S.L. Shetty

The following business was transacted in the meeting: 1. The application for help dated 25-6-76 of Indian Red Cross Society was

considered and it was resolved to give it help of Rs. 101/- from the Association

Fund.

2. The applications of the undermentioned persons of our office staff for giving

them assistance for the expensed incurred by them for medical treatment

during their sickness were considered and it was resolved to give them

assistance from Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund of the

amounts shown against their respective names:

Shri K.J. Joshi Rs. 600/-

Sepoy Gopinath Govind Rs.300/-

3. The application dated 1-7-76 of our Accountant Shri A.B. Desai was read and

as he has left his job with us the sum of Rs. 12,002.53p accumulated in his

Provident Fund account and the gratuity of Rs.7235/- have been paid to him.

This was noted and approved.

4. The application dated 28-6-76 of our former Sepoy Namdev Bhikaji was

considered and it was resolved that as he has left our services, the amount

accumulated in his Provident Fund as welll as his Gratuity of Rs.5846.25 p

should be paid over to him.

5. The application dated 26-5-76 of our pensioner Shri K.B. Daruwala requesting

for increasing his pension was considered and it was resolved to give him help

of Rs.750/- from the Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund.

6. Resolved that Rs.4,00,000/- be paid to the Stock Exchange Foundation from

the Stock Exchange Education and Research Services on condition that half of

it i.e. Rs. 2,00,000/- will be considered as corpus.

7. The letter dated 6-7-76 of Bai Sushila Ashwarlal Nanavati and S/Shri Vinod

Ishwarlal Nanavati, Girish Nanavati and B.K. Kapadia was considered and it

was resolved that Shri Bipin K. Kapadia should be given permission to continue

the business of M/s Ishwarlal T. Nanavati for three months.

8. The letter dated 3-7-76 of S/Shri Indravadan Ranchhoddas Shah and Niranjan

Ranchhoddas Shah was considered and it was resolved to give permission to

Shri Indravadan Ranchhoddas Shah to continue the business of M/s

Ranchhoddas Sheshkaran for 3 months.

9. The applications for the undermentioned partnerships were considered and

approved:

Name of the Partnership firm


M/s Hiralal Thakordas Nanavati

Shri Kanchanlal Hiralal Nanavati Shri Pravinchandra Hiralal Nanavati Shri Niranjan Kanchanlal Nanavati

1-4-76

M/s Prabhudas Lilladher

Shri Prabhudas Lilladher Shri Arun Prabhudas Shri Dhiren Prabhudas

8-6-76

M/s Harjivandas Nemidas & Sons

Shri Prasann Pranjivandas Broker Shri Bharat Pranjivandas Broker Shri Jayant Pranjivandas Broker

20-5-76

M/s Bhagwatiprasad Rungta

Shri Bhagwatiprasad Rungta Shri Harikishandas Rungta

19-5-76

M/s Ishwarlal T. Nanavati

Shri Ishwarlal T. Nanavati Shri Vinod Ishwarlal Nanavati Shri Bipin Kantilal Kapadia

20-5-76

10. The letter dated 1-6-76 of M/s Sankalchand Damodardas and Shri Jamnadas

Tulsidas were read and it was resolved to confirm the permission given to Shri

Jamnadas Tulsidas to do business as a Representative Member of M/s

Sankalchand Damodardas.

11. The application dated 7-5-76 of Shri Sabavala Haji Mohamed Merchant

nominating Shri Mahendra Navinchandra Kampani as a member of the

Exchange in his own place was considered and after interviewing Shri

Mahendra Navinchandra Kampani and his recommenders S/Shri Prabhudas

Lilladher and Nagindas Chhaganlal it was resolved by 16 votes in favour and

none against to elect Shri Mahendra Navinchandra Kampani as a member of

the Exchange in the place of Shri Sabavala Haji Mohamed Merchant subject to


12. The application dated 25-6-76 of Shri Shriram Vasumal Bhavmani nominating

Shri Naresh Jetsi as a member of the Exchange in his own place was

considered and after interviewing Shri Naresh Jetsi and his recommenders

S/Shri Ramanlal D. Shah and Shantilal Kantilal it was resolved by 15 votes in

favour and 1 against to elect Shri Naresh Jetsi as a member of the Exchange

in the place of Shri Shriram Vasumal Bhavmani subject to the Rules and Bye-

laws of the Exchange on the condition that within one month he should

separate from the partnership of Jenico Grinning and Pressing Factory and

should not do business in the market in hiw own name for two years and even

thereafter without obtaining the permission of the Governing Board.

13. The additional reports of Sir Shapurji Broacha Brokers Helping Fund dated 7-5-

76 and 8-7-76 were read and it was resolved to approve these reports.

14. The letter dated 5-7-76 of Shri M.R. Bilimoria was considered and it was

resolved that as Friday 27-8-76 was the Parsi New Year Holiday, our market

should be kept entirely closed for all work on that day.

15. The letter dated 27-5-76 of the Bangalore Stock Exchange was read and it was

resolved that the views expressed by us in the last meeting of the Stock

Exchange Presidents’ Committee about the relaxation in the implementation of

Rule 19(2) (b) of the Securities Contracts (Regulation) Rules, 1957 continue

unchanged.


it was unanimously resolved that, subject to the Listing Rules and Regulations


requirements stipulated by us, as may be deemed proper by the Chairman

their below mentioned securities should be admitted to our list of Non-Cleared

securities traded on the Exchange and dealings in those securities should be

done in the trading lots mentioned against them:

EID Perry (India) Ltd. Equity 50 shares EID Perry (India) Ltd. Preference 50 shares Nagarjuna Steels Ltd. Equity 50 shares Nagarjuna Steels Ltd. Preference 5 shares Mohan Ortman & Herbst Equity 50 shares C.K. Automatic Products Ltd. Equity 50 shares National Machinery Manufacturers Ltd. Preference 5 shares Madhya Pradesh Audyogik Vikas Nigam Ltd.

61/4% Bonds 1980 Rs.1000/-

City and Industrial Development Corporation of Maharashtra Ltd.

10.25% Debentures 1988

17. The listing application of Nagpal Stainless Steel was considered when it was

brought to the notice of the Board that the Offer for Sale had failed to disclose

the arrangement made by the Company with its Debenture holders and

approved by the High Court, regarding its liabilities of Rs. 33,20,220/-. As this

important matter had not been included in the Offer for Sale besides becoming

misguiding it signified the dire financial condition of the Company. Because of

this, the shares of the Company become ineligible for listing, it was

unanimously resolved to disapprove the listing application of the Company.

18. As the Preference shares of Khandelwal Udyog Ltd., had been redeemed it was

unanimously resolved to strike off those shares from our list of securities


19. As EID Perry Ltd., has been merged with EID Perry (India) Ltd., it was

unanimously resolved to remove the shares of EID Perry Ltd., from our list of


20. The letter dated 29-7-76 of the Aluminium Corporation of India Ltd., was read

and it was unanimously resolved that as the Company does not want to

continue listing of its shares, its shares should be removed from our list of

shares traded on the Exchange.

21. The letters dated 15-1-76 and 5-6-76 of Meena Steels Ltd., were read out and

it was resolved to postpone the matter.

22. Unanimously resolved that as the undermentioned companies have not yet

paid the Annual Listing Fee for the year 1976 though repeatedly demanded,


Exchange if they do not pay-up the fee before 31-8-76:

1. Afson Industrial Corporation Ltd. 2. Brunton & Co., Engineers Ltd. 3. Bhopal Toughened Glass Works Ltd. 4. Bright Wires Ltd. 5. C. Prabhudas & Co. Ltd. 6. Depro Foods Ltd. 7. Dharwar Electrical Industries Ltd. 8. Euro-coat (India) Ltd 9. Julou Fabrics Ltd. 10. Keshav Vanaspati Ltd. 11. Karnatak Steel & Wire Products Ltd. 12. New Board Manufacturing Co.Ltd. 13. Northern India Gas Co.Ltd. 14. Ogle Glass Works Ltd. 15. Polysteels (India) Ltd. 16. Pradeshiya Industrial Investment Corporation of U.P. Ltd. 17. Rathi Ispat Ltd. 18. Rathi Udyog Ltd.

19. Rathi Chemicals Ltd. 20. Son Valley Portland Cement Co. Ltd. 21. S.I.F. Steels Ltd. 22. Sakthi Pipes Ltd. 23. Shama Engine Valves Ltd. 24. Shah Construction Co.Ltd. 25. Saraiya Steels Ltd. 26. Tenfort Tyres Ltd. 27. Western India Spg. & Mfg. Co. Ltd. 28. Indequip Engineering Co. Ltd.

23 Resolved to issue a notice as under:

“ In continuation of Notices Nos: 1880/71 and 699/72 dated 6-11-71 and 26-

4-72 respectively all the members are hereby informed that the Governing

Board has resolved that the hand delivery transactions, except those entered

into with a special condition, which will be required to be settled on the 14th

day of Friday or Saturday, will be regarded as Special Delivery transactions or

as transactions whose date of settlement has been extended. Such

transactions will have to be settled alongwith other outstanding hand delivery

transactions on such a day as may be notified. Moreover, the hand delivery

transactions entered into on the abovementioned Friday and Saturday and

thereafter on any working day upto the following Thursday which fall due for

settlement on the 14th day, except those entered into with a special condition

will if necessary for any reason including the facility of Clearing House

Settlement work will be regarded as special delivery transactions or as

transactions whose date of settlement has been extended. Such transactions

will have to be settled alongwith other outstanding hand delivery transactions

and in the manner as explained above.

The delivery and payment of the shares will have to be done on the

Settlement day as stated in the abovementioned notices. If any party fails to

do so, that party will be liable for the buying in or selling out auctions of such

shares and the loss arising because of that”

24. Resolved that a notice be issued as under:

“All the members are hereby informed that in respect of hand delivery system

of settlement the procedure of sellers ticket has been in existence for a long

time and that of Buyers ticket for many years. In that connection, notices have

been issued from time to time. As informed by those notices, transactions

entered into during a fortnight but remaining unsettled during the next 14

days, the parties have to take out auction notices at the end of the following

fortnightly settlement and the intermediate parties have to close the

transactions by making / receiving paying of difference at the delivery Rates .

For Systematic implementation for the above mentioned practice of Seller

Ticket and Buyers Ticket, the procedure of a joint Seller Ticket - Cum- Buyers

Ticket in accordance with our Rules and Regulations and the above mentioned

notices, has been introduced on a trial basis from the beginning of the current

year, for settlement of Hand Delivery transaction which are not being settled

through the Clearing House.

The features of these procedure are as follows:

The Governing Board has resolved that until advised by a further notice the

procedure will continue to the followed, subject to alterations.

(2) In respect of the shares settled outside the Clearing House the members

will have to prepare a share wise list of the transactions entered into by

them up to a date when will be notified from time to time, after removing

objections such list (in Frm No. 1-2 B) should contain full details of the

transactions like party’s name, number of shares, price, etc. but the

information regarding such outstanding transactions which have already

been included in the previous statement shall be given only about the

total purchase or sale.

(3) A member who has a purchase position in any kind of shares according to

the above mentioned Form No. 1-2 B. can issue Buyers Tickets for all

such shares or of as many shares out of that as he wants to take delivery

Similarly a member can issue Sellers Tickets for the Shares he wants to

delivery. Instead of circulating such Buyers / Sellers Tickets party to

party, members will fill up in the Debenture form 6-7-B the number of

shares he wants to take /give delivery. Such forms shall have to be

submitted by the members on the date notified to them.

(4) On consolidation of the aforesaid Forms No. 6-7 B if any kind of shares

delivery of shares being is given and delivery of shares is also being

taken, than the two sides of the transactions will be matched against

each other and the parties will be given the delivery orders. In the first

place, the parties who have to give and take delivery of the same kind of

shares, will be given delivery orders against themselves after adjusting

their sales and purchasers of the those shares if, on consideration of

Forms No. 6-7 b, the number of shares being delivered (taken)is lager

then the shares being taken (Delivered), the excess number of shares

after adjustment of both sides , will be adjusted against the old

outstanding sale (purchase) of the members who want to give (take)

delivery of such shares against their own old outstanding sales

(Purchase). Delivery orders for the balance of shares will thereafter be

given to others who have outstanding old sales (Purchase) and they will

have compulsorily to take (give) delivery of such shares, If delivery is not

taken (Given) accordingly, they will be auctioned after taking out the

necessary auction applications. Further of information regarding giving /

taking delivery of the shares is not given in time, such shares will become

liable to be compulsorily auctioned as started in para above.

(5) Delivery of shares according to the above mentioned delivery orders will

have to be made by the parties on a date notified in that respect and

payment will have to be made at the price mentioned in the Delivery

orders. All the transactions shown in form 1-2 B which is submitted

before the Delivery orders are prepared as above should be adjusted at

the price mentioned in the Delivery Orders and payment will have to be

made accordingly. A settlement of the payment to be made or gives for

the shares at the delivery price and of the differences to be paid between

the parties shall have to be prepared and for the money to be part or

received accordingly, pay slip or Receive Slip will be prepared. The

aforesaid Pay Slip or Receive Slip will have to be submitted to the

Clearing House together with the cheque or demand draft on the date

that may be notified.

(6) The programme outlined above will continue regularly and transactions

will continue to be settled by giving / taking delivery and auction so long

as any transaction is not settled as above, the original parties between

whom any such transaction has taken place will be responsible to each

other. If any such party becomes a defaulter the other original parties

who have done such transition with the defaulter will be responsible for

such transactions and the loss arising in respect thereof proportionately.

(7) The above mentioned procedure will continue to remain in force until

another notice is put up informing otherwise. In the meantime if

necessary required changes will made therein.


Monday, 18-10-76

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Navinchandra Chhaganlal Kampani Seth Phiroze J. Jeejeebhoy Seth Hiralal Girdharlal Seth Jasvantlal Chhotalal Seth Jayantilal Rangildas Khandwala Seth Vasantlal Kantilal Shah Seth Chhotalal Devchand Parekh Seth J. R. Motishaw Seth Vasantlal Jivatlal Seth Vasantlal Champaklal Seth Purshottam Gopiram Ruiya


The following business was transacted in the meeting: 1. Resolved that the Board is grieved to take note of the sad demise of a Trading

Member of our Association and a Member of the Governing Board Shri

Babubhai Maganlal Gandhi and expresses its sense of sorrow in that behalf.

This Board also expressed deep sense of sympathy and grief to the family

members of the deceased and request the President to send a copy of this

Resolution to them by way of consolation.

2. The application for help dated 8-9-76 of the Edulji Framji Allbless Leprosy

Home, Trombay was considered and it was resolved to give it help of Rs. 101/-

from the Association Fund.

3. The application dated 11-10-76 of Shri Bedipara Hariyan Yuval Mandal was

read and it was resolved that we cannot give any help to it.

4. The application for help dated 22-9-76 of Shri Achratlal Harjivandas Shah was

considered and it was resolved to give him help of Rs.500/- from the Seth

K.R.P. Shroff Stock Exchange Sarvajanik Fund.

5. The applications of the undermentioned members of our office staff for giving

them help for the expenses incurred by them for medical treatment of their

wife during their sickness were considered and it was resolved to give them

assistance for that of the amounts shown against their names from Seth

K.R.P. Shroff Stock Exchange Sarvajanik Fund:


Shri Vijay Narayan Hera Rs.600/-

6. The application dated 14-8-76 of our Sepoy Vilas Gyandev to give him help for

the College fee etc of Rs.207/- for the First year Arts paid by him as he has

joined a college was considered and it was resolved to give him help of

Rs.207/- from Shri M.C.Mehta Smarak Fund.

7. The application dated 23-8-76 of Shri S.M. Davda of our office for loan was


8. The letter dated 5-8-76 of Smt. Bhanuben natverlal Desai and Kumari

Sandhya Natverlal Desai was considered and it was resolved to give

permission to Shri Govindbhai Jivanlal Desai to continue the business of the

late Shri Natverlal J. Desai for three months.

9. The letter dated 11-8-76 of S/Shri Bharat Babubhai Gandhi, Deepak Babubhai

Gandhi and Narendra Babubhai Gandhi and Ms. Maya Babubhai Gandhi was

considered and it was resolved to give permission to Shri Bharat Babubhai

Gandhi to continue the business of the late Shri Babubhai Maganlal Gandhi for

three months

10. The letter dated 12-10-76 of S/Shri Indravadan Ranchhoddas Shah and

Niranjan Ranchhoddas Shah was considered and it was resolved to give

permission to Shri Indravadan Ranchhoddas Shah to continue the business of

M/s Ranchhoddas Sheshkaran for two more months.

11. The letters of the undermentioned members were considered and it was

resolved to give permission for doing business as Representative Member as

mentioned below:


Shri A.C. Sheth Shri Mangaldas Lalji Kampani

Shri Sunderdas Kalyanij Kankal Shri Naresh Jetsi

Shri Brijmohan Sagarmal Shri Nandkishore Ramchandra Agarwal

12. The application dated 7-9-76 of Shri Mohanlal Sakerchand nominating Shri

Shantichand Balubhai Jhaveri as a member of the Exchange in his own place

was considered and after interviewing Shri Shantichand Balubhai Jhaveri and

his recommenders S/Shri S.J. Palejwala and Sumatilal Jamnalal it was

resolved by 10 votes in favour and none against to elect Shri Shantichand

Balubhai Jhaveri as a member of the Exchange in the place of Shri Mohanlal

Sakerchand, subject to the Rules and Bye-laws of the Exchange.

At this point of time Shri Vasantlal Jivatlal came and joined the meeting.

13 The application dated 29-7-76 the near relatives of the late Shri Ranchhoddas

Sheshkaran nominating Shri Indravadan Ranchhoddas as a member of the

Exchange in the place of late Shri Ranchhoddas Sheshkaran was considered

and after interviewing Shri Indravadan Ranchhoddas and his recommenders

S/Shri Ramanlal D. Shah and Jayantilal Dungarshi Shah it was resolved by 11

votes in favour and none against to elect Shri Indravadan Ranchhoddas Shah

as a member of the Exchange in the place of late Shri Ranchhoddas

Sheshkaran , subject to the Rules and Bye-laws of the Exchange.

14 The application of Shri Motilal Govinddas Mohta nominating Shri Mathuradas

Govinddas Mohta as a member of the Exchange in his own place was

considered and after interviewing Shri Mathuradas Govindas Mohta and his

recommenders S/Shri R. R. Mohta and Shivkishan Damani it was resolved by

eleven votes in favour and none against to elect Shri Mathuradas Govinddas

Mohta as member of the Exchange in the place of Shri Motilal Govinddas

Mohta, subject to the Rules and Bye-laws of the Exchange.

15 As Shri Himatlal V. Gandhi has been declared to be insolvent, he has been

declared as a defaulter by the Chairman, this was notified by the Board.

16 The under mentioned securities have been redeemed it was unanimously

resolved to strike them off our list of securities traded on the Exchange.

Rolta Industries ltd. 6% Bearer Debentures Shri Digvijay Cement Co. Ltd. 7.75 % Debentures Jay Shree Chemicals Ltd. 7.5% Convertible Debentures

(1972/76) The Tata Hydro Electric Power Co. Ltd.

7 % A (1975) Second Debentures

The Tata Power Co. Ltd. 7 % (A) 1975) Fifth Debentures Modi Industries Ltd. First Services Debentures Sundatta Foods & Fibres Ltd. 8% cumulative Participating Pref.

Shares

17 As the Indian Iron & Steel Co. Ltd., has been nationalised the matter regarding

removal of its shares from our list of securities traded in the Exchange was

considered and it was resolved to continue the shares in our list of securities

traded on the Exchange for the time being.

18 As Meena Steel Limited has not paid the Annual Listing fee for the year 1976

it was unanimously resolved to strike off it shares from our list of securities


19 As Jubilee Mills Ltd. has been amalgamated with Swan Mills Ltd., it was

unanimously resolved to strike the shares of Jubilee Mills Ltd., off our list if


20 As Dena Bank Ltd., has been amalgamated with Siram Products Ltd., it was

unanimously resolved to strike off its shares from our list of securities traded

on the Exchange.

21 As regards the correspondence until 4-10-76, received from Nagpal Stainless

Steels Ltd., it was resolved to postpone the matter to the next meeting.

22 As under mentioned companies have paid up the Annual Listing Fee for the

year 1975, it was unanimously resolved to re-admit their shares to our list of


1. Eurocote (India) Ltd.

2. Shah Construction Co. Ltd.

3. New Board Manufacturing Co Ltd.

4. Depro Foods Ltd.



as well as compliance with the usual requirements and the special

requirements stipulated by us their securities mentioned below should be

included in our list of Non-Cleared Securities and dealings in those securities

should be made in the trading lots shown against them:

Greaves Lombardini Ltd. Equity 50 shares Greaves Lombardini Ltd. Preference 5 shares Basant Paper Mills Ltd. Equity 50 shares Basant Paper Mills Ltd. Preference 5 shares Vanjinad Leathers Ltd. Equity 50 shares Damodar Bulk Carriers Ltd. Equity 50 shares Transformers & Electricals Kerala Ltd. Equity 50 shares Coromandal Agro Products and Oils Ltd. Equity 50 shares Preference 5 shares Indian Fibre Blank Ltd. Equity 50 shares Indian Fibre Blank Ltd. Preference 5 shares Stormal India Ltd. Equity 50 shares Union Paper Mills Ltd. Equity 50 shares Union Paper Mills Ltd. Preference 5 shares Universal Paper Mills Ltd. Equity 50 shares Universal Paper Mills Ltd. Preference 5 shares The State Industrial and Investment Corporation of Maharashtra Ltd.

61/4% -Rs.1000/- Bond 1986.

The Industrial and Investment Corporation of India Ltd.

61/4% (1992) – Rs.5000/- debentures

Mafatlal Industries Ltd. New Equity – 1 share The Surat Electricity Co.Ltd. 10.5% convertible

debentures. – 5 debentures.

24. Resolved that needful should be done for making the necessary arrangements

for giving security to Banks as may be approved by them for loan/ cash credit

given by them and in respect of the loans / cash credit taken from them

before now or to be taken hereafter.

25. Resolved that as Thursday 21-10-76 is the Dhan Teras Holiday our market

should be kept entirely closed for all business on that day.


Tuesday, 7-12-76

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present:


Seth Phiroze J. Jeejeebhoy Seth Navinchandra chhaganlal Kampani

Seth Mathradas Samaldas Seth A. R. Mahadevia

Seth Jaswantlal Chhotalal Seth Jayantilal Rangiladas Khandwala

Seth Rasiklal Maneklal Seth Chhotalal Devchand Parekh

Seth Vasantlal Kantilal Shah Seth Vasantlal Jivatlal

Government Nominees

Shri M.R. Mayya

Shri S.C. Bafna


1 The President informed the Board that Shri Bafna was soon to go to New Delhi

to occupy the high post of Director of Inspection in the Company Law Board. He

congratulated Shri S. C. Bafna on behalf of the Board and himself and wished

him success. He also thanked Shri Bafna for the support and co-operation given

by him to the Board and expressed hope that in future he will continue to

give his co-operation to the Board. Shri Bafna thanked the Board for its kind

sentiments.

2 The application dated 02-10-76 of the Maharashtra State Anti tuberculoses

Association for help was considered and it was resolved to give it help of

Rs.101/-

3 The application dated 7-8-76 of Masina Hospital for group it help was

considered and it was resolved that it cannot be given any help.

4 The applications for the under mentioned persons of our office staff asking for

loans were considered and it was resolved to give each of them loan of the

amount shown against his name below:

Shri G. N. Kunder Rs.3,000/-

Bhatt Mothalal Bhuralal Rs.2,500/-

Sweeper Bhagwandas Tillu Rs.700/-

5 The letter dated 26-10-76 of S/Shri Gunwantlal Karsandas Dalal and Sanat

Motilal Dalal was read and noted that Shri Sanat Motilal Dalal had separated

from the firm of M/s. Dalal Sons with effect from 2-10-76

6 The application relating ot the under mentioned partnerships were considered

and approved

Name of the Partnership Name of the Partners Date of

partnership

M/s. Balubhai

Tribhuvandas Prekh

Shri Balubhai Tribhuvandas Parekh

Shri Manharlal Tribhuvandas Parekh

Shri Dilip Manharlal Parekh

24-10-76

M/s. Shantichand

Balubhai Javeri

Shri Shantichand Balubhai Jhaveri

Shri Haresh Shantichand Jhaveri

22-10-76

M/s Ranchoddas

Seshkaran

Shri Indravadan Ranchoddas Shah

Shri Niranjan Ranchoddas Shah

23-10-76

7 The letter dated 7-12-76 of Shri Sevantilal Chimanlal and M/s. Trikamlal

Maganlal was read and it was resolved to give permission to M/s. Trikamlal

Maganlal to do business as a representative member of Shri Sevantilal

Chimanlal.

8 The application dated 11-11-76 of the near relatives of the late Shri Homi M. P.

Bharucha nominating Shri Jayant Thakorbhai Shroff as a member of the

Exchange in the place of the late Shri Homi M. P. Bhrucha was considered and

after interviewing Shri Jayant Thakorbhai Shroff and his recommenders S/Shri

Bhagubhai A. Gandhi and Prasanna Pranjivandas Broker it was resolved by 11

votes in favour and none against to elect Shri Jayant Thakorbhai Shoff as a

member of the Exchange in the place of late Shri Homi M. P. Bharucha,

subject to the Rules Bye-laws of the Exchange.

9 The application dated 16-11-76 of the legal representations of the late Shri

Rameshwar Balchand Khaitan, nominating Shri Puthukae Sethu Narayan Swami

as a member of the Exchange in the place of late Shri Rameshwar Balchand

Khaitan was considered and after interviewing Shri Puthukae Sethu Narayan

Swami and his recommenders S/Shri P. R. Subramanyam and Noshir N. Saher

it was resolved by 11 votes in favour and none against to elect Shri PethuKade

Sethu Narayan Swami as a member of the Exchange in the place of late Shri

Rameshwar Balchand Khaitan, subject to the Rules Bye-laws of the Exchange.

10 Resolved that in addition to sum of Rs.4,00,000/- paid from the Stock

Exchange Education and Research Services Fund to the Stock Exchange

Educations, which has been required under section 35 (1) (2) of the Income

Tax Act, according to the resolution dated 20-7-76, further sum of Rs.3,50,00/-

be paid to the Stock Exchange Foundations from the Stock Exchange Education

and Research Services Fund it was to be treated as a corpus.

11 Resolved to give approval to the Chairman’s letter of hypothecation dated 2-1-

75 creating hypothecation of the computer equipment with ancillaries and a

flouting charges on the moveable assets of the Exchange by way of securities

given by the Chairman, as per the powers delegated by the Board to the

Chairman, with 7 days notice short deposit placed by the Stock Exchange

Foundation with the Association from time to time, subject to the condition of

the first charge of the Stock Exchange 8 % Debenture holders and the Bank of

India.

12 The Annual Report, Income and Expenditure Accounts and the Balance Sheet of

our Association for the year 1975 were approved.

13 The Association holidays for the year 1977 were decided.

14 Resolved that a notice as under should be issued “All the members of the

Exchange are hereby informed that the Governing Board has resolved that the

members of the Exchange or their employees should not do any business by

meeting together in a crowd at any place when the market is closed. Also they

should not gather together in a crowd even if no transactions are done. if

anybody is found gathering in crowd at any place outside the business hours,

he will be penalised with a fine in spite of that anybody is found doing it again

in violation of this notice, he will be suspended or his badge will be cancelled.”

15 Resolved that as the Indian Iron & Steel Co. Ltd. has been nationalise, its

shares should be stick off our list of securities traded on the Exchange, with

effect from 1-1-77.

16 As the under mentioned securities have been or are being redeemed

unanimously resolved that those securities should be removed from our list of


Larson & Toubro Ltd. 7 % Debentures 1974-76

The Thana Electric Supply Co. Ltd. 6 ½ % Debenture Shares

The Anand Electric Supply Co. Ltd. 6 % Debenture Shares

The Nadiad Electric Supply Co. Ltd. 6 % Debenture Shares

17 The papers relating to the listing application of Nagpal sterilise Steel Ltd were

read and it was resolved to postpone the matter for further consideration in the

next meeting.

18 The listing application of the under mentioned companies were considered and


as well as compliance with the usual requirements and such other special

requirements as may be the stipulated by us, as may be deemed prefer by the

Chairman their below mentioned securities should be included in our list of non-

cleared securities, traded on the Exchange and dealing therein should be made

in the trading lots mentioned against them:

Karnatak Oxygen Ltd. Equity – 50 Shares

Karnatak Scooters Ltd. Equity – 50 Shares

Karnatak Scooters Ltd. Preference – 50 Shares

Govind Poy Oxygen Ltd. Equity – 50 Shares

Sudarshan Chemical Industries Ltd. Equity – 50 Shares

Mehnalaya Phyto Chemicals Ltd. Equity – 50 Shares

Megnalaya Phyto Chemicals Ltd. Preference – 5 Shares

Springs India Ltd. Equity – 50 Shares

Springs India Ltd. Preference – 5 shares

Carbon Corporation Ltd. Equity – 50 Shares

Sahney Pares Phone Ltd. Equity – 50 Shares

Sahney Pares Phone Ltd. Preference – 5 Shares

Melcast India Ltd. Equity – 50 Shares

19 Resolved that hereafter cum-dividend transactions in the Shares of the

companies whose transfer books are closed on 1-1-77 or subsequently or if the

transfer books are not closed the Record date is fixed as of 1-1-77 or

thereafter, for the purpose of payment of dividend, and such cum-dividend

transactions are solved after such closure of the transfer Books or the Record

date, payment of dividend between the parties should be made on the basis of

gross dividend instead of net dividend.


Tuesday, 25-01-77

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Shah Seth Phiroze J. Jeejeebhoy Seth J. R. Motishaw Seth Mathradas Samaldas Seth Vasantlal Champaklal Seth Jaswantlal Chhotalal Seth Navinchandra chhaganlal Kampani Seth Rasiklal Maneklal Seth Jayantilal Rangiladas Khandwala Seth Laldas Jamnadas Seth Chhotalal Devchand Parekh Seth Purshottam Gopiram Ruiya

Government Nominees Shri M.R. Mayya Shri M.C. Bhatt

The following business was transacted in the meeting: 1 The President mentioned that Shri M.C. Bhatt was to retire from his present

post soon and thanked him on behalf of the Board and himself for the valuable

guidance, suggestions, support and co-operation given during his tenure on the

Board. He also wished him long healthy life and prosperity. Shri M.C.Bhatt

thanked the Board for its good wishes and kind sentiments and also wished well

for the Stock Exchange.

2 The applications for help of the undermentioned institutions were considered

and it was resolved to give help of Rs.101/- to each of them:

The Bombay Dumb and Deaf Institution

All India Deaf and Dumb Society.

3 The application dated 21-1-77 of our sepoy Vilas Gyandev to give him help of

the College fee for the second term of First year Arts was considered and it was

resolved to give him assistance of Rs.213/- from Shri M.C.Mehta Smarak Fund.

4 The applications of the undermentioned persons of our office staff to give them

loans were considered and it was resolved to give them loans of the amounts

shown against their respective names:


Liftman Sitaram Vithal Rs.1100/-

Sweeper Hariram Jivram Rs.1000/-

5 The application dated 25-11-76 of our retired Havaldas Shankar Rastogi was

considered and it was resolved to give him a pension of Rs. 25/- per month and

to pay the gratuity of Rs.10,465.50p.

6 The applications for the under mentioned partnerships were considered and it

was resolved to approve them:

Name of the Partnership

Name of the Partners Date of partnership

M/s S. Ramdas Shri Suresh Bhavanrao Sherali Shri Sanjay Suresh Sirali

10-12-76

M/s Jamnadas Morarjee & Co.

Shri Navinchandra Chhaganlal Kampani Shri Mahendra Kampani Shri Navinchandra Kampani Shri Hemantkumar Navinchandra Kampani

24-10-76

M/s S. Parbhoodas & Co.

Shri Mathradas Samaldas Shri Hemendra M. Kothari Shri Yogesh M. Kothari

24-10-76

7 The letter dated 3-12-76 of S/Shri Bharat Babubhai Gandhi, Deepak Babubhai

Gandhi and Narendra Babubhai Gandhi and Miss Maya babubhai Gandhi was

read and it was resolved to give permission to Shri Bharat Babubhai Gandhi to

continue the business of the late Shri Babubhai Maganlal Gandhi for two more

months.

8 The application dated 12-3-76 of the near relatives of the late Shri Narverlal

Motilal Vyas nominating Shri Pravin Natvarlal Vyas as a member of the

Exchange in the place of late Shri Narverlal Motilal Vyas was considered and

after interviewing Shri Pravin Natverlal Vyas and his recommenders S/Shri

Govindbhai B. Desai and Rasikalal Manilal Shah it was resolved by 12 votes in

favour and none against to elect Shri Pravin Natvarlal Vyas as a member of the

Exchange in the place of late Shri Narverlal Motilal Vyas, subject to the Rules

Bye-laws of the Exchange.

9 The letter dated 27-12-76 of Shri Sureshchandra Nandlal to refund to him the

additional membership security deposit given by him was considered and it was

resolved to consider the matter after the forthcoming Budget of the Bharat

Government is presented.

10 The letters of the undermentioned companies were considered and it was

unanimously resolved that as they do not want their securities to continue in

the list of securities traded on our Exchange, they should be removed from our

list of securities traded on the Exchange:

1. Universal Steel & Alloys Ltd.

2. Kaveri Sugars and Chemicals Ltd.

11 The letter dated 9-12-76 of Multi Steels (India) Ltd., was considered and it was

unanimously resolved that as that company has been amalgamated with

Poddar Projects Ltd., its shares should be removed from our list of securities


12 The letter dated 12-1-77 of Maharashtra State Textile Corporation was

considered and it was unanimously resolved that it has taken over

administration of Pulgan Cotton Mills Ltd., in its hands and does not wish to

continuer its shares to be traded on the Exchange. Its shares should be





requirements stipulated by us as may be deemed proper by the Chairman, their

securities mentioned against their names should be included in our list of Non-

Cleared Securities and traded in the lots noted against them:

Bell Graphic Recording Charts Ltd. Equity 50 shares Kabini Papers Ltd. Equity 50 shares Punjab Scooters Ltd. Equity 50 shares Punjab United Pesticides and Chemicals Ltd. Equity 50 shares Citurgia Bio Chemicals Ltd. Equity 50 shares The Britania Biscuit Co.Ltd. Equity 100 shares The Britania Biscuit Co.Ltd. 8% Preference -100

shares The Britania Biscuit Co.Ltd. 73/4% Debentures –

Rs.1000/-

14 The letter of Nagpal Stainless Steels Ltd., relating to its listing applications

were considered and the matter was postponed for further consideration.


Monday, 14-3-77

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Jayant Amerchand, wherein the undermentioned members of the Board were present: Seth Jayant Amerchand Seth Vasantlal Kantilal Shah Seth Phiroze J. Jeejeebhoy Seth Navinchandra Chhaganlal Kampani Seth Mathradas Samaldas Seth A.R. Mahadevia Seth Jaswantlal Chhotalal Seth Jayantilal Rangiladas Khandwala Seth Rasiklal Maneklal Seth Vasantlal Champaklal Seth Laldas Jamnadas Seth Purshottam Gopiram Ruiya

Government Nominees Shri M.R. Mayya Shri R.N. Bansal Shri S.L. Shetty

The following business was transacted in the meeting: 1 Shri L.R. Munjal was present in today’s meeting by special invitation. The

President welcomed him and also Shri R.N. Bansal who has been appointed as

a Government Nominee in the place of Shri S.C. Bafna and introduced them to

the members of the Board.

2 Resolved to appoint S/Shri Jayantilal Mansukhlal Champaklal Babubhai

Marfatia and Nagindas Trambaklal as Scrutineers for scrutinising the ballot

papers relating to the election of the Governing Board for the year 1977-78

and declare its result.

3 The application dated 15-1-76 of our liftsman Padmasinh to give him help in

respect of the expenses of Rs.405.52p incurred by him for medical treatment

during his sickness was considered and it was resolved to give him assistance

of Rs.250/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund.

4 The applications for loans of the undermentioned persons of our office staff

were considered and it was resolved to give them loans as shown below:

Shri Nariman Dubash Rs. 3000/- Sepoy Shantaram Narayan Rs.2000/-

Shri ABS Nair Rs. 1100/- Liftman Jitsing Padmasinh Rs.2000/-

Sepoy Balkrishna S. Shinde Rs.800/- Watchman S.K. Lal Rs.1000/-

5 Resolved to give permission for doing business as Representative Member as

under:


M/s Sankalchand Damodardas M/s Ranchhoddas Motiram Choksey & Co. M/s R.G. Mohta Shri Mathuradas Mohta

6 The application dated 25-11-76 of the near relatives of the late Shri Babubhai

Maganglal Gandhi nominating Shri Bharatkumar Babubhai Gandhi as a

member of the Exchange in the place of late Shri Babubhai Maganglal Gandhi

was considered and after interviewing Shri Bharatkumar Babubhai Gandhi and

his recommenders S/Shri Sevantilal Chimanlal and Jayant Mangaldas it was

resolved by 11 votes in favour and none against to elect Shri Bharatkumar

Babubhai Gandhi as a member of the Exchange in the place of late Shri

Babubhai Maganglal Gandhi, subject to the Rules Bye-laws of the Exchange.

7 As the 25000 9.5% Preference Share of J.K. Synthetics are to be redeemed on

and from 31-3-77 unanimously resolved to remove these shares from our list

of securities quoted on the Exchange.

8 As Bhartiya Electric Steel Co. Ltd., does not want its shares to continue to be

listed on the Exchange it was unanimously resolved to remove its shares from

the list of securities quoted on our Exchange.




requirements stipulated by us as may be deemed proper by the Chairman,

their below mentioned securities should be included in our list of Non-Cleared

Securities and trading in those securities should be done in the trading lots


Reckit and Colman of India Ltd. Equity 50 shares Oriental Carbon Ltd. Equity 50 shares Facit Asia Ltd. Equity 5 shares Ion Exchange (India) Ltd. Equity 50 shares Century Tubes Ltd. Equity 50 shares Century Tubes Ltd. Preference 5 shares Monotype India Ltd. Equity 50 shares Detergents India Ltd. Equity 50 shares Godavri Plywoods Ltd. Equity 50 shares Godavri Plywoods Ltd. Preference 5 shares Track Parts of India Ltd. Equity 50 shares Himachal Wool Processors Ltd. Equity 50 shares Mercantile Credit Corporation Ltd. Equity 50 shares Mercantile Credit Corporation Ltd. Preference 50 shares S&S Bushings Ltd. Equity 50 shares

10 The letters dated 21-1-77 and 7-2-77 of Champaklal Investments and

Financial Consultancy Ltd., regarding grant of recognition to Industrial Credit

and Development Syndicate as an approved underwrites as well as the

information sent by them about that organisation were considered and it was

resolved to approve Industrial Credit and Development Syndicate as

Underwriters.

11. The letters dated 28-1-77 and 31-1-77 of Champaklal Investments and

Financial Consultants Ltd., and its Annual Report for the year 1974-75 were

read and it was resolved to approve it as underwriters on the condition at no

time their underwriting liability should exceed Rs. 5 lakhs.

12. The President thanked the members of the Governing Board and the

Government Nominees for the support and co-operation given by them during

the year.

Sd/- Sd/- A.J. Shah J.R. Motishaw Secretary President 18-4-77

Thursday, 28-4-77

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm. under the Chairmanship of Seth J. R. Motishaw and thereafter under the Chairmanship of Seth Mathradas Samaldas, wherein the undermentioned members of the Board were present:

Seth Mathradas Samaldas Seth Vasantlal Champaklal

Seth Phiroze J. Jeejeebhoy Seth Jayantilal Rangiladas Khandwala

Seth Vasantlal Champaklal Seth Vasantlal Jivatlal

Seth Vasantlal Kantilal Shah Seth Navinchandra Chhaganlal Kampani

Seth Laldas Jamnadas Seth Chhotalal Devchand

Seth Jayant Amerchand Seth Ashokkumar Girdharlal Fozdar

Seth Rasiklal Maneklal Seth Purshottam Gopiram Ruiya

Seth J. R. Motishaw Seth Haryantlal Norandas Sonawala

Government Nominees

Shri J. P. Mukharji

Shri M.R. Mayya

Shri R.N. Bansal

Shri H.L. Shetty (Alternate)

The following business was transacted in the meeting: 1 Proposed by Seth Laldas Jamnadas and supported by Seth Purshottam Gopiram

Ruiya, Seth J. R. Motishaw was unanimously elected as Chairman of today’s

meeting.

2 Proposed by Seth J. R. Motishaw and supported by Shri Jayant Amerchand,

Seth Mathradas Samaldas was unanimously elected as the President.

Seth J. R. Motishaw handed over the Chairmanship of the meeting to Seth

Mathradas Samaldas and Shri Laldas Jamnadas congratulated Shri Mathradas

Samaldas on behalf of all the Board members and himself.

Seth Mathrads took over the Chiarmanship of the meeting. He thanked Seth

Jayant Amerchand for having served as President nearly for three years in

difficult time. Paying tribute to the invaluable services rendered by late Shri

K.R.P. Shroff for a long period as President, he said that he will follow the fine

traditions established by him and will go on drawing guidance and inspiration

there form. The president also made mentioned of the appointment of Shri J. P.

Mukharji Director (Investment), Finance Ministry, as Government Nominee on

our Board in the place of Shri M. C. Bhatia and welcomed him, He introduced

Shri J. P. Mukharji to the various members of the Board and expressed hope

that the Board will get full support and co-operation from him as well as

valuable guidance. The President also congratulated S/shri Ashokkumar

Girdharlal Fozdar and Haryantlal Norandas Sonawala for being elected to the

Board and welcomed.

3 Proposed by Seth Jayant Amerchand and supported by Shri Ashokkumar

Girdharlal Fozdar it was unanimously resolved to elect Shri Vasantlal

Champaklal Mashruwala as Vice President.

4 Proposed by Shri Rasiklal Maneklal and supported by Shri Chhotalal Devchand,

Shri Navinchandra Chhaganlal Kampani was elected as the Hon. Treasurer.

5 Resolved that the undermentioned members are appointed as members of the

Arbtration Committee for the year 1977-78

Shri. Keki N. Chinoy Shri Nagindas Trambaklal Parekh

Shri Jayantilal K. Dalal Shri V. K. Nanavati

Shri Champaklal Babulal Marfatia Shri Jayendra D. Mehta

Shri L. N. Kapadia Shri Rasiklal S. jhaveri

Shri D. U. Shukla Shri Govindbhai G. Desai

Shri Hariram Dwarkadas Shri Jitendra Champaklal Mashruwala

Shri Bhagubhai Amritlal Gandhi Shri Ramdas Lallubhai

Shri S. M. Shah Shri Shirish Chimanlal Dave

6 Reolved that the under mentioned members are appointed as members of the

Defaulters Committee for the Year 1977-78

Shri Jayant Amerchand Shri Jayantilal Harjivanlal Dalal

Shri Vasantlal Kantilal Shah Shri Rasiklal S. Jhaveeri

Shri Jasvantlal Chhotalal Shri Nagindas Trambaklal Parekh

7 Resolved to appoint Sir Shaporjee Brocha Brokers Helping Fund Committee

consisting of S/Shri J. R. Motishaw, Mathradas Samaldas, Vasantlal Champaklal

and Dhirajlal Maganlal

8 “Resolved that cheques be signed by the President, Shri Mathradas Samaldas,

or the Chairman, Shri P. J. Jeejeebhoy, or the Vice President, Shri Vasantlal

Champaklal, or the Hon. Treasurer, Shri Navinchandra Chhaganlal Kampani and

any one of the following six Members of the Governing Board, namely, Shri J.

R. Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand, Shri Vasant

Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A. R. Mahadevia and be

countersigned by the Secretary, Shri A. J. Shah and in his absence by Shri S.

N. Karaka or Shri M. D. vyas.”

9 Resolved that the various Accounts and Safe Custady Accounts of the Exchange

with Bank of India be operated on jointly by the President, Shri Mathradas

Samaldas, or the Chairman, Shri P. J. jeejeebhoy, or Vice President, Shri

Vasantlal Champaklal, or Hon. Treasurer, Shri Navinchandra Chhaganlal

Kampani, and by any one of the following six Members of the Governing Board,

namely, Shri Shri J. R. Motishaw, Shri. Rasiklal Maneklal, Shri, Jayant

Amerchand, Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal ant Shri A.

R. Mahadevia and be countersigned by the Secretary, Shri A. J. Shah and in his

absence by Shri S. N. Karaka or Shri M. D. Vyas

10 “Resolved that the Current Accounts and Safe Custody Accounts with Bank of

India in the name of the Stock Exchange staff Provident Fund and the Stock

Exchange Staff Gratuity Fund be operated on either by two of the Trustees of

the Exchange for the time being or the survivor or surviors of them or jointly by

the Hon. Treasurer, Shri Navinchandra Chhagnlal Kampani and any one of the

following six Members of the Governing Board, namely Shri J. R. motishaw, Shri

Rasiklal maneklal, Shri Jayant Amerchand, Shari Vasant Kantilal Shah, Shri


Secretary, Shri A. J. Shah and in his absence by Shri S. N. Karaka or Shri M. D.

Vyas

11 The Application dated 31-1-77 of the All India Federation of the Deaf for help

was considered and it was resolved to give a donation of Rs.10/- to it.

12 The letter dated 11-4-77 of our pensioner Shri Maganlal Jivabhai Desai was

considered and it was resolved that he should be give the help by Rs.50/- p.m.

for one year from 1-5-77 from Seth KRP Shroff Stock Exchange Sarvajanik

Fund.

13 The applications for loans of the under mentioned members of our office Staff

were considered and it was resolved to give them loans of the amount shown

against name for each of them.

Shri C. N. Sanghavi Rs.1,000/-

Shri H. A.Sahukar Rs.1,000/-

Sepoy Dattaram Govind Rs.2,000/-

14 The letter dated 15-4-77 of S/Shri Devidas Jamnadas and Padmakant Devidas

was read and it was noted that Shri Padmakant Devidas had separated from

the firm of M/s. Devidas Jamnadas and Shri Devidas Jamnadas had continued

to do business as the proprietor of the firm of M/s. Devidas Jamnadas with

effect from 14-04-77

15 The letter dated 30-7-77 and 28-3-77 of Shri B. D. Shroff and Shri Jawahir

Jagirdar respectively were read and it was resolved to give permission to Shri

Jawahir Jagirdar to do business as Representative Member of Shri B.D. Shroff.

16 The application dated 12-4-77 of the near relative of late Shri Babulal Jivraj

Maniar nominating Shri Pravinchandra Babulal Maniar as a member of the

Exchange in the place of late Shri Babulal Jivraj maniar was considered and

after interviewing Shri Pravinchandra Babulal Maniar and his recommenders

S/Shri Hasmukha Lalunhai and Sumatilal Jamnalal it was resolved by 15 votes

in favour and none against to elect Shri Pravinchandra Babulal Maniar as a

member of the Exchange in the place of late Shri Babulal Jivraj Maniar, subject


17 The Chairman expressed the present position regarding construction of our new

building. As there was likelihood of getting permission for resumption of its

constructions in short time, he spoke about making arrangement for raising the

necessary funds and collecting the materials. In that connection Board took

note of the recommendations made the Allotment Committee on 22-2-77. The

consent given by the Trustees earlier by their letter dated 7-12-76 the

permission given by the Maharashtra State Government by their letter dated

29-3-77 for resumption of the construction work of our new building and the

No-objection Certificate dated 28-4-77 given by the Controller of

accommodation.

18 Resolved that as our 8% Debentures have almost been fully subscribed, the

condition for trading the Fixed Deposits placed with us as subscription for the

Debentures should be deleted. That besides whatever Fixed Deposits, loans

and funds have been collected previously at higher or lower interest for longer

or shorter periods or on any other terms without the above mentioned

conditions should be approved and we should continue to do so.

19 Resolved that we should negotiate and do the needful for obtaining more funds

from the Bank of India and Central Bank of India in respect of the loans taken

from them.

20 The listing application of the under mentioned companies were considered and

it was unanimously resolved that, subject to the Listing rules and Regulations


requirements stipulated by us, as considered proper by the Chairman, their

below mentioned Securities should be included in our list of non-cleared

securities traded on the Exchange and dealing in their securities should be

made in the trading lots shown against them:

Andra Pradesh Tanneries Ltd. Equity - 50 Shares

K. G. Khoshla Compressors Ltd. Equity – 50 Shares

Reed Relays and Electronic India Ltd. Equity – 50 Shares

Reed Relays and Electronic India Ltd Preference – 50 Shares

Triton Valves Ltd. Equity – 50 Shares

Triton Valves Ltd Preference – 5 Shares

International conveyors Ltd. Equity – 50 Shares

Wimco Ltd. New Equity – 50 Shares

The Industrial Credit and

Investments Corporation of India Ltd.

6 ¼ % Debentures 1993 –

Rs.5,000/-

21 As Khandelwal Udyog had been amalgamated with Aenie Manufacturing Co.

Ltd., it was unanimously resolved to de-list the shares of Khandelwal Udyog.

Sd/- Sd/- A.J. Shah Vasantlal Champaklal Secretary President 8-7-77

Friday, 8-7-77

A meeting of the Governing Board of the Stock Exchange was held today at S.T.

3.00 pm under the Chairmanship of Seth Vasantlal Champaklal wherein the


Seth Vasantlal Champaklal Mashruwala Seth Jaswantlal Chhotalal

Seth Phiroze J. Jeejeebhoy Seth Navinchandra Chhaganlal Kampani

Seth Vasantlal Kantilal Shah Seth Chhotalal Devchand Parekh

Seth Laldas Jamnadas Seth Ashokkumar G. Fozdar

Seth Jayant Amerchand Seth Purshottam Gopiram Ruiya

Seth J.R. Motishaw Seth Haryantlal Narandas Sonawala

Government Nominees

Shri J.P. Mukherjee

Shri R.N. Bansal

Shri S.L. Shetty


1 Shri A.V. Ganeshan – Joint Secretary, Government of India, Finance Ministry

was present by invitation. The President welcomed him and introduced him to

the members of the Board.

2 The application dated 30-5-77 of the Poona School and Home for the Blind was

considered and it was resolved to give it a donation of Rs.101/-.

3 The applications for loans of the undermentioned persons of our office staff


mentioned against their names below:

Shri P.P. Dube Rs. 9000/- Sepoy Vilas Gyandev Rs.1500/-

Shri K. Shivraman Rs. 1500/- Sepoy Balkrishna Yashwant Rs.1000/-

Shri K. Ambyakshan Rs.1000/- Hamal Dhonde Sampat Rs.1000/-

4 The letters dated 31-5-77 and 29-6-77 of Shri S.H. Davda were read and it

was resolved to accept his resignation from 1-7-77 and to pay him the

amount of Rs.8275.16 accumulated in his Provident Fund and Rs. 4672.50 as

Gratuity.

5 The letter dated 2-7-77 of Shri Sureshchandra Nandlal shah was considered

and it was resolved to refund to him the additional membership security of

Rs.30,000/- given by him.

6 The application for partnership dated 28-4-77 of S/Shri Himatlal Fulchand and

Prakash Himatlal Shah was considered and it was resolved to approve their

partnership in the firm name of M/s Himatlal Fulchand with effect from 1-5-77.

7 The letters of the undermentioned were considered and it was resolved to give

them permission to do business as a Representative Member as shown below:


M/s N.M. Parekh Shri Jayantilal Nanalal Jariwala

Shri Hasmukh Lalbhai Shri Pravinchandra Babubhai Maniar

M/s Kantilal Chhaganlal M/s Ranchhodas Motiram Choksey & Co.

8 The application dated 1-3-77 of our retired Havaldar Shankar Rutnoji was

considered and it was resolved to give him pension.

9 Resolved to give sanction to the sale of securities from the investments of Sir

Shapoorji Broacha Brokers Helping Fund as shown below:

1 350 9% Preference shares of Tata Locomotive and Engineering Co.Ltd.

17-3-76

2 300 91/4% ‘A’ Preference shares of Andhra Valley Power Supply Co. Ltd.

24-3-76

3 460 9.3% ‘B’ Preference shares of Hindustan Aluminium Co.Ltd.

24-3-76

4 Rs. 2,64,000/- 73/4% Debentures 1978-80 of Tata Power Co.Ltd.

24-3-76

5 Rs. 25,000/- 73/4% Debentures 1977-78 of Hindustan Lever Ltd.

24-3-76

6 Rs. 22,000/- 71/2% Debentures 1977of the Tata Engineering Locomotive Co. Ltd.

31-5-76

7 125 shares of Standard Mills Co.Ltd. 26-11-76

It was further resolved to approve placing of the F.D. of Rs.4,00,000/- at 8%

per annum with the Stock Exchange.

10 It was resolved to confirm the sale of 31/4% 1947/77 loan of Rs. 77,500/- of

Bombay Municipal Corporation on 15-3-76.

11 Resolved that the amount of Rs. 46,011.37 to be received by us and the

amount of Rs. 36,444.90 to be paid by us to various parties should be written

off in our Income & Expenditure Account for the year 1976 as the claims in

respect thereof have become time barred. The details of the undermentioned

two amounts are as under:

The Amounts due to us:

1. Relating to advertisements.

1 Assam Silimanite Ltd. Rs. 3,300/-

2 M.T.A. Liniate Rs. 600/-

3 Allcoal Ashdown & Co. Ltd. Rs. 2,500/-

4 Structural Engineering Works Ltd. Rs. 7,500/-

5 Richardson & Crudas Ltd. Rs.12,000/-

6 Dindayal Tube Industries Ltd. Rs.15,000/-

Rs.40,900/-

2. Stamp charges to be recovered from members Rs.2325/-

3. Old books of Rules & Bye-laws Rs.2,786.37

Rs. 46,011.37

The amounts to be paid by us:

1 Shri A.J. Javeri Rs. 100/-

2 The Eastern Engineering Rs. 200/-

3 Gomo Kali Ltd. Rs. 13,258/-

4 Various small items Rs.2344.28p

5 Investment Publications Rs. 542.71

6 JBM World Trade Corporation Rs. 20,000/-

Total Rs.36,444.99

12. The Report, Income and Expenditure Account and the Balance Sheet of our


13 The Application dated 8-6-77 of Shri Vinodrai Ranchhodas Fozdar nominating

Shri Mahesh Jayantilal Patel as a member of the Exchange in his own place

was considered and after interviewing Shri Mahesh Jayantilal Patel and his

recommenders S/Shri Sumatilal Jamnalal and Ramesh Jayantilal Patel it was

resolved by 11 votes in favour and none against to elect Shri Mahesh

Jayantilal Patel as as a member of the Exchange in the place of Shri Vinodrai

Ranchoddas Fozdar, subject to the Rules and Bye-laws of the Exchange.

14 The application dated 28-5-77 of the near relatives of the late Shri Kantilal

Maganlal Dalal nominating Shri Rajendra Kantilal Dalal as a member of the

Exchange in the place of late Shri Kantilal Maganlal Dalal was considered and

after interviewing Shri Rajendra Kantilal Dalal and his recommenders S/Shri

Dhirajlal Maganlal Dalal and Ishvarlal Maganlal Dalal it was resolved by 11

votes in favour and none against to elect Shri Rajendra Kantilal Dalal as a

member of the Exchange in the place of late Shri Kantilal Maganlal Dalal ,

subject to the Rules and Bye-laws of the Exchange on condition that he will

get separated from Dalal Enterprises or and any other business he might be

engaged in at the time, he wants to start doing business in the market in his

own name.

15 The application dated 29-4-77 of Shri Hariprasad Shambhuprasad Mahadevia

nominating his own place Shri krishnachandra Laxmichand Shah as a member

of the Exchange was considered and after interviewing Shri Krishnachandra

Laxmichand Shah and his recommenders S/Shri Vrijalal Lallubhai and B. F.

Jhaveri it was resolved by 11 votes in favour and none against to elect Shri

Krishnachandra Laxmichand Shah as a member of the Exchange in the place of

Shri Hariprasad Shambhuprasad Mahadevia, subject to the Rules and Bye-laws

of the Exchange.

16 Resolved that as the Equity Shares of Rs. 100 each of Chowgule Steamships

Ltd. have been sub-divided into shares of Rs.10/- each, the trading lots of the

equity shares of Chowgule Steamships Ltd. should be changed to 50 equity

shares of Rs.10/- each.

17 The listing applications of the under mentioned companies were considered


Regulations and compliance with usual requirements and such other special

requirements stipulated by us as may be deemed proper by Chairman, the

securities of the companies mentioned below should be included in our list of

Non- cleared Securities and dealings therein should be done in the trading lots

specified against them.

The Titaghar Paper Mills Co. Ltd. ‘A’ Ordinary – 100 Shares The Titaghar Paper Mills Co. Ltd. ‘B’ Ordinary – 100 Shares The Titaghar Paper Mills Co. Ltd. Preferred Ordinary -100 Shares The Titaghar Paper Mills Co. Ltd. 8% Preference – 5 Shares The Titaghar Paper Mills Co. Ltd. 4 ½ Preference – 5 Shares Rane (Madras) Ltd. Equity – 100 Shares Rane (Madras) Ltd. A Class 7 % Preference – 100 Shares Rane (Madras) Ltd. 6% Preference – 100 Shares Coats of India Equity – 50 Shares Tata Finlay Ltd. Equity – 50 Shares Carbonates (India) Ltd. Equity – 50 Shares Carbonates (India) Ltd. Preference – 5 Shares Panchkula Mart Ltd. Equity – 50 Shares Sivalic Cellulose Ltd. Equity – 50 Shares Dolfin Hotels Ltd. Equity – 50 Shares Dolfin Hotels Ltd. Preference – 5 Shares Madhya Pradesh Vidyut Yatra Ltd. Equity – 50 Shares Gujarat Reclaim and Rubber Products Ltd.

Equity – 50 Shares

Banswara Syntex Ltd. Equity – 50 Shares Peoples Investments Ltd. Equity – 50 Shares Cadbury India Ltd. Equity – 50 Shares

ABS Plastics Ltd. Equity – 50 Shares Dufar Inerfran Ltd. Equity – 50 Shares Jokai India Ltd. Equity – 50 Shares Best & Crompton Engineering Ltd. Equity – 50 Shares Mulle & Phipps India Ltd. Non-Equity – 50 Shares Industrial Finance Corporation of India Ltd.

6 % Bonds 1987

18 As the Preference Shares of the Indian Link Chain Manufactures Ltd. have

been redeemed it was unanimously resolved to remove those shares from our

list of securities traded on the Exchange.

19 The letter dated 12-5-77 and 13-5-77 of Northern India Hotels were read and

it was unanimously resolved to remove its shares from our list of Securities


Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President

20-9-77

Tuesday 20-9-77

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Mathradas Samaldas wherein the undermentioned members of the Board were present: Seth Mathradas Samaldas Seth Jasvantlal Chhotalal Seth Phiroze J. Jeejeebhoy Seth Jayantilal R. Khandwala Seth Vasantlal Champaklal Mashruwala Seth Navinchandra Chhaganlal Kampani Seth Jayant Amerchand Seth A.R. Mahadevia Seth Rasiklal Maneklal Seth Chhotalal Devchand Seth J.R. Motishaw Seth Purshottam Gopiram Ruiya Seth Hariyantlal Narandas Sonawala

Government Nominees Shri M.R. Mayya Shri R.N. Bansal

The following business was transacted in the meeting: 1 The application dated 8-7-77 of Indian Red Cross Society for help was

considered and it was resolved to give it a donation of Rs.101/-.

2 The application dated 17-9-77 of our typist Shri B.L. Desai for giving them

assistance towards the expenses incurred by him for medical treatment during

his illness was considered and it was resolved to give him assistance of

Rs.698.45 from Seth KRP Shroff Stock Exchange Sarvajanik Fund.

3 The application dated 1-9-77 of our pensioner Shri K.B. Daruwala requesting

for an increase in his pension was considered and it was resolved to give him

help of Rs.750/- from Seth KRP Shroff Stock Exchange Sarvajanik Fund.

4 The application dated 24-8-77 of our sepoy Vilas Gyandev for giving him

assistance of the College fee for the First Term of Inter Arts was considered

and it was resolved to give him assistance of Rs.177/- from Shri M.C. Mehta

Smarak Fund.

5 The application of our office staff dated 6-7-77 stating that the Provident Fund

organisation has decided to pay interest @ 8% per annum on the accumulated

amount of Provident Fund and therefore taking that into account the interest

on Provident Fund should be paid at 8% p.a. instead of 6% which is being paid

by us was considered and it was resolved that from the year 1977 we should

pay interest @ 8% per annum of the accumulated amount of the Staff

Provident Fund.

6 The letter dated 31-8-77 of Shri Ramesh Jayantilal Patel and Mahesh Jayantilal

Patel was considered and it was noted that Shri Mahesh Jayantilal Patel had

ceased to be a partner in the firm of M/s Jayantilal N. Patel with effect from

26-8-77 and from that date Shri Ramesh Jayantilal Patel had continued to do

business as the sole proprietor of the firm of M/s Jayantilal N. Patel.

7 The application dated 9-9-77 of S/Shri Sumatilal Jamnalal, Niranjan Jamnalal,

Yogesh Sumatilal and Paresh Sumatilal was read and it was noted that Shri

Niranjan Jamnalal had separated from the firm of M/s Sumatilal Jamnalal with


8 The letter dated 5-9-77 of Smt. Ratti Merwanji Mehta was read and it was

resolved to give permission to Shri Jamnadas Kanji Venza to continue the

business of the late Shri Merwanji N. Mehta for one month.

9 Resolved that Shri Kirtilal K. Shah should be appointed as a member of the

Arbitration Committee in the vacancy caused by the demise of Shri L.N.

Kapadia.

10

The President informed the board about the cash credit Hypothecation Facility

being enjoyed by the Exchange with Central Bank of India, Bombay Main

Office, against hypothecation of the stocks of Iron &Steel Materials of the

Exchange lying with Engineering Construction Corp. Ltd. and / or with Gandhi

& Co. and / or lying at the construction site of our New Building and / or or

lying anywhere also subject to such margin and rate of interest as may be fix

by the Bank from time to time.

The President further informed the Board that under the Cash Credit amount

with Central Bank of India, Bombay Main Office, there was due and owing to

the Bank as on 17.9.7977 the debit balance of Rs.26,69,929.33 in the Stock

Exchange A/c No. J. 133 which was inclusive of interest at the rate of 16%

upto 31.08.1977.

The President further informed the Board that Central Bank of India had been

kind enough to increase Cash Credit hypothecation limit from Rs.25 Lacs to

Rs.55 Lacs against hypothecation of stocks as mentioned above.

The Board thereafter discussed this request and the following resolutions ware

thereafter adopted and passed;

1. Resolved that the Exchange do hereby confirm that the debit balance as on

17.9.1977 inclusive of interest upto 31.08.1977 in the Stock Exchange

Cash Credit hypothecation Account No. J. 133 with Central Bank of India,

Bombay Main Office is Rs.26,69,929.33

2. Resolved that the hypothecation of the stock of Iron & Steel Materials of

the Exchange lying with Engineering Construction Corp. Ltd. and / or with

Gandhi & Co. and / or lying at the construction site of our New Building and

/ or lying anywhere also shall continue to secure the aforesaid outstanding

and any other outstanding in future in the Stock Exchange C/C accounts

with Central Bank of India, Bombay Main Office or any other offices of the

Bank.

3. Resolved that Mr. Mathradas Samaldas, the President of the Exchange, Mr.

J. R. Motishaw, Member, Gov, Board and Mr. A. J. Shah, Secretary of the

Exchange be and are hereby authorised to execute Demand Promissory

Note for Rs. 35 Lacs and all the necessary documents that may be required

by Central Bank of India for securing the aforesaid outstandings as also for

further outstandings from time to time in C/C Account with Central Bank of

India, Bombay Main Office or any other offices of Bank, and the seal of the

Exchange be affixed on the said documents in accordance with the Rules,

bye-laws % Regulation of the Exchange

4. Further resolved that the Exchange do hereby confirm to Central Bank of

India that the Stock Exchange has no borrowings against above stocks by

any of hypothecation from any other Bank or from any other Financial

Institution or from any other person or persons or from any other firm or

Company.

5. Further resolved that the Exchange do hereby declare and ensure the said

Bank that these borrowing including the above mentioned Cash Credit

facility are within the borrowing powers of the Governing Board under the

Rules, Bye-laws & Regulations of the Exchange.

6. Resolved that the certified copy of the aforesaid resolution be furnished to

Central Bank of India, Bombay main office, under the signature of Mr.

Mathradas Samaldas, Chairmen of the meeting.

11 In connection with negotiations going on with the Central Bank of India for

obtaining the facility of further Funds, it was resolved as under

1. Resolved that in respect of the cash credit arrangement with Central Bank

of India for Rs.35 Lakhs against hypothecation of Iron and Steel Material it

be arranged with the Bank to release the said hypothecated material and to

grant to the Exchange additional cash credit facilities to the extent of Rs.20

Lakhs, i.e., to the extent of Rs.55 Lakhs in the aggregate and the Exchange

do agree to create in respect thereof a mortgage of the immovable

property of the Exchange situated at the junction of Dalal Street, Apollo

Stree and Hamam Street, Bombay, in favour of the Bank ranking pari

passu with any other charge thereon to the extent of a further sum of

Rs.20 lakhs, i.e., to the extent of Rs.75 lakhs in the aggregate, subject

however to the prior charge of the holders of the 8% Debenture stock,

1981 – 86 and further subject to the right of the Exchange to demolish the

temporary structures and the 4th and 5th floor of the Apollo Street Building

and the right to lease premises in the new building under construction for a

period upto 20 years and do execute all agreements, deeds, documents

and writing as may be required by the Bank for the purposes aforesaid.

2. Further resolved that all necessary documents as may be required by the

Bank including an irrevocable Power of attorney authorising the Bank to

execute behalf of the Exchange a mortgage as aforesaid be executed on

behalf of the Exchange by the President or Vice-President, a Member of the

Governing Board and the Secretary and seal of the Exchange be affixed

thereon.

12 The application dated 23-7-77 of Shri Ramshankar Popatlal Pandya nominating

Shri Edul Dhanjisha Sodawaterwala as a member of the Exchange in his own

place was considered and after interviewing Shri Edul Dhanjisha

Sodawaterwala and his recommenders S/Shri Bhupendra Champaklal and

Keki D. Mehta it was resolved by 13 votes in favour and none against to elect

Shri Edul Dhanjisha Sodawaterwala as a member of the Exchange in the

place of Shri Ramshankar Popatlal Pandya subject to the Rules and


13 The application dated 8-8-77 of the near relatives of the late Shri Jayantilal

Jamnalal Shah nominating Shri Pradip Jayantilal Shah as a member of the

Exchange in the place of late Shri Jayantilal Jamnalal Shah was considered and

after interviewing Shri Pradip Jayantilal Shah and his recommenders S/Shri

Jayant C. Shah and Rameshchandra Trikamlal it was resolved by 13 votes in

favour and none against to elect Shri Pradip Jayantilal Shah as a member of

the Exchange in the place of late Shri Jayantilal Jamnalal Shah subject to the

Rules and Bye-laws of the Exchange on the condition that he should not do

business in his own name for two years and that when he wasn’t to stat doing

business in his own name, he should separate himself from the firm of M/s

Indus Corporation and also from any other business he may be doing at that

time.

14 The application dated 25-8-77 of Shri Vallabhdas Dayal nominating Shri

Shantilal Dulabhdas Patel as a member of the Exchange in his own place was

considered and after interviewing Shri Shantilal Dulabhdas Patel and his

recommenders S/Shri Rasiklal Manilal Shah and G.R. Pandya it was resolved

by 13 votes in favour and none against to elect Shri Shantilal Dulabhdas Patel

as a member of the Exchange in the place of Shri Vallabhdas Dayal, subject to

the Rules and Regulations of the Exchange.

15 The application dated 12-8-77 of Shri Kapurchand Harjivandas Vora

nominating nominating Shri Devakikrishna Rajaram Keni as a member of the

Exchange in his own place was considered and after interviewing Shri

Devakikrishna Rajaram Keni and his recommenders S/Shri Manharlal

Shantilal and Jitendra Champaklal it was resolved by 13 votes in favour and

none against to elect Shri Devakikrishna Rajaram Keni as a member of the

Exchange in the place of Shri Kapurchand Harjivandas Vora, subject to the

Rules and Regulations of the Exchange and on the condition that he should not

do business in the market in his own name for two years.

16 The application dated 19-8-77 of the near relatives of the late Shri Ishwarlal

Thakordas Nanavati nominating Shri Vinod Ishwarlal Nanavati as a member

of the Exchange in the place of late Shri Ishwarlal Thakordas Nanavati was

considered and after interviewing Shri Vinod Ishwarlal Nanavati and his

recommenders S/Shri Bipin K. Kapadia and Jitendra Harjivandas it was

resolved by 13 votes in favour and none against to elect Shri Vinod Ishwarlal

Nanavati as a member of the Exchange in the place of late Shri Ishwarlal

Thakordas Nanavati subject to the Rules and Regulations of the Exchange.

17 As regards the matter relating to the application dated 1-9-77 of the near

relatives of the late Shri Amritlal Vasanji Shah nominating Shri Ramji

Bechardas Thakkar as a member of the Exchange in the palce of the late Shri

Amritlal Vasnji Shah the letter dated 20-9-77 of Shri Ramji Bechardas Thakkar

withdrawing this application for membership of the Exchange was read and

noted.

18 The additional reports dated 24-8-77 and 19-9-77 of Sir Shaporji Broacha

Brokers Helping Fund Committee were read and approved.








Mahindra Spider Ltd. Equity 50 shares Dairy Ashmore India Ltd. Equity 50 shares Dairy Ashmore India Ltd. Preference 5 shares Enar Foundaries Ltd. Equity 50 shares Modern Syntex (India) Ltd. Equity 50 shares Ingersoll Rand (India) Ltd. Equity 50 shares Aurangabad Paper Mills Ltd. Equity 50 shares Shree Vindhya Paper Mills Ltd. Equity 50 shares M.P. Agro Morarjee Fertilisers Ltd. Equity 50 shares Bhadrachandra Paper Boards Ltd. Equity 50 shares

Bhadrachandra Paper Boards Ltd. Preference 5 shares K.S.B. Pumps Ltd. Equity 50 shares Delta Paper Mills Ltd. Equity 50 shares Himachal Worsested Mills Ltd. Equity 50 shares Indian Duplicator Co. Ltd. Equity 50 shares Hindustan Machine Tools Ltd. 10.5% Debentures 1

debenture Madhya Pradesh Audyogik Vikas Nigam Ltd. 10.5% Bonds 1987.

20 As the undermentioned companies have been taken into liquidation it was

unanimously resolved to remove their securities from our list of securities

traded on the Exchange:

Telly Sound (India) Ltd.

Chamunda Chemicals & Fertilisers Ltd.

21 As the undermentioned securities have been redeemed it was unanimously

resolved to remove them from our list of securities traded on the Exchange:

Tata Locomotives & Engineering Co.Ltd. old 9% ‘A’ Preference Cumulative

Shares.

The Indian Hume Pipes Co. Ltd. 7% (1977) Debentures.

22 Unanimously resolved that as the undermentioned securities have not yet paid

the Annual Listing Fees for the year 1977 though repeatedly demanded their

securities should be removed from the list of securities traded on the

Exchange if they don’t pay up the aforesaid fee before 1-11-77:

1. Andhra Steel Corporation Ltd.

2. Ajay Electrical Industries Ltd.

3. Bengal Ferro-Alloys Ltd.

4. Bright Wire Ltd.

5. Depeco Foods Ltd.

6. Enamelled Wires Ltd.

7. Gujarat Investments Trust Ltd.

8. Gangappa Cables Ltd.

9. Haryana Electrosteel Ltd.

10. Hicks Theremometers Ltd.

11. Hyderabad Vanaspati Ltd.

12. Indiaequip Engineering Ltd.

13. Jesons Electronics Ltd.

14. Kulkarni Foundaries Ltd.

15. The Kerala Rubber and Reelams Ltd.

16. Mohan Steels Ltd.

17. Malanda Ceramics & Industries Ltd.

18. Rainbow Steels Ltd.

19. Shree Mohan Ispat Ltd.

20. Southern Steel Ltd.

21. Surindra Stain Malt Ltd.

22. Spun Pipe and Construction Co. of India Ltd.

23. Superior Air Products Ltd.

24. Saraya Steel Ltd.

25. Telly Sound (India) Ltd.

26. Universal Wires Ltd.

27. Yeast Alco Enzymes Ltd.

Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President 1-11-77

1-11-77

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Mathradas Samaldas wherein the undermentioned members of the Board were present: Seth Mathradas Samaldas Seth J.R. Motishaw Seth Phiroze J. Jeejeebhoy Seth Jasvantlal Chhotalal Seth Vasantlal Champaklal Seth Navinchandra Chhaganlal Kampani Seth Laldas Jamnadas Seth Chhotalal Devchand Seth Jayant Amerchand Seth Ashokkumar Girdharlal Fozdar Seth Rasiklal Maneklal Seth A.R. Mahadevia Seth Purshottam Gopiram Ruiya

Government Nominees Seth J.P. Mukherjee

Shri M.R. Mayya Shri R.N. Bansal

The following business was transacted in the meeting: 1 Resolved that on Thursday 10-11-77 our market will remain open for doing

Muhurat business of Vikram Samvat 2034 from 6.30pm to 7.30 pm instead of

the usual ST. 12.00 to 2 pm.

2 The application dated 20-9-77 of The Allbless Edulji Framji Leprosy Home,

Trombay for help was considered and it was resolved to give it a donation of

Rs.101/-.

3 The application dated 20-10-77 of our office sepoy Govind Mahadev Khatale

for loan was considered and it was resolved to give him a loan of Rs.2000/-.

4 The application dated 20-10-77 of our office sepoy Raghunath Keshavji to give

him assistance towards the expenses incurred by him of Rs.272.65 for the

medical treatment of his wife during her illness was considered and it was

resolved to give him assistance of Rs.125/- from KRP Shroff Stock Exchange

Sarvajanik Fund.

5 The letter dated 13-10-77 of Shri Nareshkumar Jetsi asking for permission to

do business in the market in his own name was considered and it was resolved

that the request cannot be acceded to.

6 The letters dated 30-9-77 of S/Shri Manharlal Shantilal and Devakikrishna

Rajaram Keni was read and it was resolved to confirm the permission given to

Shri Devakikrishna Rajaram Keni to do business in the market as a

Representative Member of Shri Manharlal Shantilal.

7 The President referred to the Board Resolution dated 19.8.1975 and reported

that Bank of India (hereinafter referred to as “the Bank”) had at the request of

the Stock Exchange agreed to continue to grant to the Stock Exchange

demand loan facilities upto a limit of Rs.17,50,000/- on terms, conditions and

security mentioned below:

Limit : Rs.17,50,000/- Term : Demand – Without prejudice to the demand nature of the

loan, it is to be repaid by annual instalments of Rs.3.50 lakhs each commencing from 26-7-77.

Rate of Interest: 61/4% over bank rate minimum 151/4% per annum with quarterly interest.

Security: 1. Demand Promissory Note by the Stock Exchange, Bombay in favour of the Bank and endorsed by them jointly and each severally in favour of the Bank;

2. Continuing security agreement; 3. Letter of Lien & Set-off; 4. Hypothecation of electronic computer and other

accessories thereof, alongwith a supplemental deed of hypothecation.


resolutions for continuance of the loan facility to confirm the debit balance in

the account, the documents executed and the security created in favour of the

Bank, in terms of the Form L.444C sent by the Bank.



time to time by way of loan facility on terms as aforesaid and repayable

on demand upto a limit of Rs.17,50,000/- with interest 61/4% over Bank

Rate minimum 151/4% per annum with quarterly rests or such other

terms and at such other rate/s of interest, as may be notified by the

Bank to the Stock Exchange from time to time.

2. THAT the Stock Exchange do confirm and acknowledge the debit

balance in the account, the documents executed and the security

created in favour of the Bank, in terms of Form L.444C sent by the

Bank and that in token of such confirmation and acknowledgement the

common seal of the Stock Exchange be affixed to the said Form L.444C

in presence of and the same may be signed on behalf of the Stock

Exchange by Mr. Mathradas Samaldas, President, Mr. Jivanchand R.

Motishaw, Member, Governing Board and countersigned by Mr. Amritlal

J.Shah, Secretary of The Stock Exchange.



confirmations of debit and/or security which may be required by the

Bank may be given on behalf of the Stock Exchange as heretofore.


by the Chairman be furnished to the Bank.

8 The application dated 14-10-77 of the near relatives of the late Shri

Chhaganlal Nagardas nominating Shri Ramanlal Chhaganlal Dalal as a

member of the Exchange in the place of late Shri Chhaganlal Nagardas was

considered and after interviewing Shri Ramanlal Chhaganlal Dalal and his

recommenders S/Shri Ramdas Lallubhai and Jitendra Champaklal Dalal it was

resolved by 14 votes in favour and none against to elect Shri Ramanlal

Chhaganlal Dalal as a member of the Exchange in the place of late Shri

Chhaganlal Nagardas subject to the Rules Bye-laws of the Exchange.

9 The application dated 14-10-77 of the near relatives of the late Shri Jamnalal

Manruplal Koradia nominating Shri Niranjan Jamnalal Koradia as a member

of the Exchange in the place of late Shri Jamnalal Manruplal Koradia was

considered and after interviewing Shri Niranjan Jamnalal Koradia and his

recommenders S/Shri P.R. Shah and Manubhai Maneklal it was resolved by

14 votes in favour and none against to elect Shri Niranjam Jamnalal Koradia

as a member of the Exchange in the place of late Shri Jamnalal Manruplal

Koradia subject to the Rules Bye-laws of the Exchange.


Champaklal Chimanlal Sadagar nominating Shri Ajaykumar Ramanlal Vakharia

as a member of the Exchange in the place of late Shri Champaklal Chimanlal

Sadagar was considered and after interviewing Shri Ajaykumar Ramanlal

Vakharia and his recommenders S/Shri Shantilal Vakharia and Rasiklal S.

Jhaveri it was resolved by 13 votes in favour and one against to elect Shri

Ajaykumar Ramanlal Vakharia as a member of the Exchange in the place of

late Shri Champaklal Chimanlal Sadagar subject to the Rules Bye-laws of the

Exchange on the condition that he should not do business in the market in his

own name for one year.








Hindustan Dorr-Oliver Ltd. Equity 50 shares

Polymers Corporation of Gujarat Ltd. Equity 50 shares Polymers Corporation of Gujarat Ltd. Preference 5 shares Haryana Detergents Ltd. Equity 50 shares Sterling Steel and Wires Ltd. Equity 50 shares Orient Plywood and Engineering Industries Ltd. Equity 50 shares Gujarat Carbon Ltd. Preference 5 shares Maharashtra Scooters Ltd. Equity 50 shares Modi Carpets Ltd. Equity 50 shares Economic Development Corporation of Goa, Daman and Diu Ltd.

61/4% Boonds of 1987 Rs.1000/-

Hindustan Lever Ltd. New Equity 25 shares Chowgule Steamships Ltd. New Equity 50 shares Aruna Sugars Ltd. 11% Preference 5 shares

12 Unanimously resolved that as Madhya Pradesh Industries Ltd., has been

amalgamated with Straw Products Ltd., the securities of Madhya Pradesh

Industries Ltd., should be removed from our list of securities officially quoted

on the Exchange.

13. Unanimously resolved that as Gujarat Investment Trust Ltd., has gone into

liquidation the securities of that company should be removed from the list of

securities quoted on the Exchange.

14. Unanimously resolved that as the undermentioned securities are being

redeemed they should be removed from the list of securities quoted on the

Exchange:

Oil India Ltd. Debentures

Sumco Meters Ltd. Redeemable Preference Shares.


Tuesday, 19-12-77 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm under the Chairmanship of Seth Mathradas Samaldas wherein the undermentioned members of the Board were present: Seth Mathradas Samaldas Seth Jayantilal Rangiladas Khandwala Seth Phiroze J. Jeejeebhoy Seth Vasantlal Jivatlal Seth Laldas Jamnadas Seth Navinchandra Chhaganlal Kampani Seth Jayant Amerchand Seth A.R. Mahadevia Seth Rasiklal Maneklal Seth Chhotalal Devchand Seth J.R. Motishaw Seth Ashokkumar Girdharlal Fozdar Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya Seth Haryantlal Narandas Sonavala


The following business was transacted in the meeting: 1 The applications for help of the undermentioned organisations were read and it

was resolved to give a Donation of Rs.101/- to each of them:

1) All India Federation of the Deaf.

2) Maharashtra State Anti-Tuberculosis Association

2 The application dated 19-10-77 of Shree Badipara Harijan Yuvak Mandal was

read and it was resolved that no help can be given to it.

3 The application for loan of our Hamal Shankar Sakharam was read and it was


4 The letters of the undermentioned members were read and it was resolved to

give permission to do business as Representative Member as shown below:


M/s Sumatilal Jamnalal Shri Niranjan Jamnalal Koradia

Shri Manubhai Maneklal Shri Shrikishan M. Damani

Shri Babubhai Maganlal Gandhi Shri Ramanlal Chhaganlal Dalal

Shri Kantilal Jivanlal Vakharia Shri Ajaykumar Ramanlal Vakharia

Shri Bhagwandas Gordhandas Shri Kardam Rajendra Dalal

5 The Holidays of our Association for the year 1978 were fixed.

6 The application dated 1-11-77 of Shri Jayantilal Thakarlal Gambhirwala

nominating Shri Shriram Shrinivas as a member of the Exchange in his own

place was considered and after interviewing Shri Shriram Shrinivas Narsaria

and his recommenders S/Shri Bhogilal Trikamlal Shah and Champaklal

Jamnadas it was resolved by 13 votes in favour and none against to elect Shri

Shriram Shrinivas as a member of the Exchange in the place of Shri Jayantilal

Thakarlal Gambhirwala subject to the Rules Bye-laws of the Exchange on the

condition that he should not do business in the market in his own name for

nine months.

7 As the construction work of our new building has been restarted it was

resolved that in order to maintain contacts and represent on our behalf with

the contractors in that connection, Lt. Gen. P.D.Jain should be appointed as

out representative (Owners representative) with full powers and befitting

honorarium should be paid to him for that.

Further resolved that the appointment of Shri Maheshbhai H. Patel on a

monthly pay of Rs.1950/- and subject to the conditions mentioned in our letter

of 31-10-77 as Project Engineer should be approved.

8 The letter dated 28-11-77 of Shri Mahavir Ispat Ltd., was read and it was

unanimously resolved that as the company has paid up the annual listing fee

for the year 1977, its securities should be re-listed for trading on the

Exchange.

Shri A.R. Mahadevia came and joined the meeting at this point of time.








Reliance Textile Industries Ltd. Equity 50 shares Atul Chemical Industries Ltd. Equity 50 shares Sarvodaya Paper Mills Ltd. Equity 50 shares The Pondicherry Paper Mills Ltd. Equity 50 shares Magnesite and Minerals Ltd. Equity 50 shares Magnesite and Minerals Ltd. Preference 5 shares Bihar Air Products Ltd. Equity 50 shares Vidyut Steel Ltd. Equity 50 shares Dempo Dairy Industries Ltd. Equity 50 shares Stepen Chemicals Ltd. Equity 50 shares Stepen Chemicals Ltd. Preference 5 shares

10 As the undermentioned securities have been redeemed it was unanimously

resolved to remove them from our list of securities tracked on the Exchange:

Texamco 9.3% Preference Shares

India Forge & Drop Stampings Ltd. –Preference Shares


Page 1 of 4

Tuesday, 14-2-78.


p.m. under the Chairmanship of Seth Mathradas Samaldas, wherein the

undermentioned Members of the Board were present:

Seth Mathradas Samaldas Seth Jasvantlal Chhotalal

Seth Phiroze Jeejeebhoy Seth Jayantilal Rangildas Khandwala

Seth Vasantlal Champaklal Seth Navinchandra Chhaganlal Kampani

Seth Vasantlal Kantilal Shah Seth A. R. Mahadevia

Seth Jayant Amerchand Seth Chhotalal Devchand

Seth Rasiklal Maneklal Seth Ashokkumar Girdharilal Fozdar

Seth J. R. Motishaw Seth Hariyantlal Narandas Sonawala

Government Nominee

Seth M. R. Mayya

Shri R. N. Bansal

Shri J. G Gogte

1.


Government letter dated 30.12.77 regarding Shri J. G. Gogte’s

appointment’s on our Board as an Alternate Government Director for Shri S.

L. Shetty, Director of the Economics Department of the Reserve Bank of

India, was read out and taken note of.

The President while welcoming Shri J. G. Gogte expressed the hope that his

valuable advise and guidance will prove useful to us.

2. The application dated 01.12.78 of the Dump and Deaf Institution for help was

considered and it was resolved to donate a sum of Rs. 101/- to it.

3. The application dated 25.01.78 of our pensioner Shri. Maganbhai Jinabhai

Desai was considered and it was resolved to give him help of Rs. 100/- pm.

from Seth KRP Shroff Stock Exchange Sarvajanik fund.

Page 2 of 4

4. The application of the under mentioned persons of our office staff were

considered and it was resolved to approve the loans given to them as shown

below

Shri. G. S. Tompe Rs. 1,000/-

Sepoy Dinanath Sarmalkar Rs. 2,000/-

Hamal Shankar Sakharam Rs. 2,000/-

5. The application for loans of the undermentioned persons of our office staff

were considered and it was resolved to give them loans as shown below:

Shri M. V. Bhandare Rs. 5,000/-

Sweeper Khachera Dhureram Rs. 1,000/-

6. The letter dated 18.01.78 of Shri Vasantlal Jivatlal and Chandrkant Jivatlal

was considered and it was resolved to approve the partnership between them

from 31.12.97 under the firm name of M/s. Kantilal Purtapsi.

7. The application dated 10. 01. 78 of the near relatives of the late Shri Jivatlal

Purtapsi nominating Shri Chandrakant Jivatlal Dalal as a Member of the

Exchange in the place of the late Shri Jivatlal Purtapsi was considered and

after interviewing Shri Kantilal Purtapsi and his recommenders S/Shri

Champaklal Jamnadas and V. D. Vakil it was resolved by 13 votes in favour

and none against to elect Shri Chandrakant Jivatlal as a Member of the

Exchange in the place of the Late Shri Jivatlal Purtapsi, subject to the Rules

and Regulation of the Exchange.

8.

The application dated 28-01-78 of the near relatives of the late Shri Amrutlal

Vasanji Shah nominating Shri Harkishan Mulchand Shah as a member of the

Exchange in the place of the late Shri Amratlal Vasanji Shah was considered

and after interviewing Shri Harkishan Mulchand Shah and his recommender

Shri B. D. Shroff it was resolved by 13 votes in favour and none against to

elect Shri Harkishan Mulchand Shah as a member of the Exchange in the

place of late Shri Amratlal Vasanji Shah subject to the Rules and Regulations

of the Exchange.

9. The application dated 30-01-78 of the near relatives of the late Shri Merwanji

Navroji Mehta nominating Shri Jamnadas Kanji Vanza as a member of the

Exchange in the place of the late Shri Merwanji Navroji Mehta as a member of

the Exchange in the place of the late Shri Merwanji Navroji Mehta was

considered and after interviewing Shri Jamnadas Kanji Vanji and his

recommenders S/Shri Ishwarlal Maganlal Dalal and Suryakant Harilal Maniar,

Page 3 of 4

it was resolved by 13 votes in favour and none against to elect Shri

Jamnadas Kanji Vanza as a member of the Exchange in the place of the late

Shri Merwanji Navroji Mehta, subject to the Rules and Regulations of the

Exchange.

10. RESOLVED THAT the interest accrued uptil now on the loan given to the late

Shri Champaklal Chimanlal should be written off:

FURTHER RESOLVED THAT after deducting the amount of the loan given to

him by us towards its repayment from the sale proceeds of his membership

right, the balance amount of Rs. 14,000/- should be kept as deposit with the

Association and the interest thereon should be paid for maintenance of his

minor children- Master Shrenik Chimanlal Saudagar and Kumari Bhavna

Chimanlal Saudagar in monthly instalments and the aforementioned amount

of Rs. 14,000/- should be handed over to them when they attain adulthood.

11. Resolved that Tueday 28-03-78 should be fixed as the day for election of the


12. The application of the National News Print and Paper Mills Ltd dated 24-01-78

for re – enlistment of their securities for trading or the Exchange was

considered and it was resolved to re-enlist their securities in the Non-Cleared

Securities List.

13. The Listing applications of the undermentioned companies were considered

and it was unanimously resolved that , subject to the Listing Rules and


special requirements stipulated by us according to the conditions as may be

deemed proper by the Chairman, their securities should be included in our list

of Non Cleared Securities and their trading lots should be fixed as shown

below :

Kulkarni Black and Deeker Son Equity 50 shares

India Foils Ltd Equity 50 shares

Ajanta Tubes Ltd Equity 50 shares

Ajanta Tubes Ltd Preference 5 shares

Mandolee Pallets Ltd Equity 50 shares

Mandolee Pallets Ltd Preference 5 shares

Gujarat Aromatics Ltd Equity 50 shares

Gujarat Aromatics Ltd Preference 5 shares

Bi- Metal Bearings Ltd Equity 50 shares

Page 4 of 4

Asea Ltd Equity 50 shares

Raj Hans Steel Ltd Equity 50 shares

Raj Hans Steel Ltd Preference 5 shares

Chougule Matrex Hotels Ltd Equity 50 shares

Chougule Matrex Hotels Ltd Preference 5 shares

Novopan India Ltd Equity 50 shares

Shree Rayalaseema Paper Mills

Ltd

Equity 50 shares

Shree Rayalaseema Paper Mills

Ltd

Preference 5 shares

Hyderabad Connectronics Ltd Equity 50 shares

South East Footware Ltd Equity 50 shares

Nath Pulp Paper Mills Ltd Equity 50 shares

Nath Pulp Paper Mills Ltd Preference 5 shares

Oceanic Investments Ltd Equity 50 shares

Jasmine Investments Ltd Equity 50 shares

Dalal Street Investments Ltd Equity 50 shares

Rose Investments Ltd Equity 50 shares

Bhavi Investments Ltd Equity 50 shares

The Britania Biscuit Co. Ltd New Equity 100 shares

The Central Pulp and Paper Mills

Ltd

New Equity 5 shares


Investment Corporation of India

Ltd

6 ½ % Debentures

(1998)

Uttar Pradesh Electricity Board 6 ¼ % Bonds (1987)

Uttar Pradesh Electricity Board 6 ¼ % Bonds (1987)

(Second Series)

9. As the undermentioned securities have been redeemed, it was unanimously

resolved to remove them from the list of securities traded on the Exchange.

Bharat Commerce and Industries Ltd 9.3% Second Preference Shares

Susser Textile Bearings Ltd Preference Shares

10. The Report dated 10-02-78 of Sir Shapaorji Broadia Brokers Helping Fund was

considered and it was resolved to approve it.

Sd/- Sd/-

A J Shah Mathradas Samaldas

Secretary President

Dt : 10-03-1978

Page 1 of 3

Tuesday, 10-3-78

A meeting of the Governing Board of the Stock Exchange was held today at 3.00

p.m. under the Chairmanship of Seth Mathradas Samaldas, wherein the under


Seth Mathradas Samaldas Seth Jasvantlal Chhotalal

Seth Phiroze Jeejeebhoy Seth Jayantilal RangildasKhandwala

Seth Vasantlal Champaklal Seth Navinchandra Chhaganlal Kampani



Seth Rasiklal Maneklal Seth Ashokkumar G Fozdar

Seth J. R. Motishaw Seth Hariyantlal Narandas Sonawala

Government Nominee

Shri M. R. Mayya

Shri R. N. Bansal

Shri J. G Gogte


1 The application dated 23-3-78 of our Sepoy Vilas Gyand to give him

assistance for payment of second-term College fee of Inter Arts was

considered and it was resolved to give him that much amount of the fee from

Shri M. C. Mehta Smarak Fund, i.e. Rs. 225/-

2 The application dated 28-2-78 of the sweeper-bai Tara Mohan for giving her

help for medical treatment expenses during her sickness was considered and

it was resolved to give her that much help from Seth KRP Shroff Stock

Exchange Sarvajanik fund.

3 The application dated 22-3-78 of our watchman Shri S. K. Tal for giving him a

loan was considered and it was resolved to give him a loan of Rs. 1,500/- .

4 Resolved that donation of Rs. 5,001/- given to Seth KRP Shroff Stock

Exchange Sarvajaink Fund on 24-12-77 is approved.

Page 2 of 3

5 The application dated 10-03-78 of S/Shri Vasantlal Jivatlal Dalal and

Chandrakant Jivatlal Dalal for partnership between them was considered and

it was resolved to approve their partnership with effect from 10-4-1978 under

the firm name of M/s. Kantilal Partapsi.

6 The application dated 14-02-78 of Shri Soli Barjorji Bilimoria nominating Shri

Homi Kekhsaru Unwala as a member of the Stock Exchange in his own place

was considered after interviewing Shri Homi Kekhsaru Unwala and his

recommender Shri Keki J. Khambhata it was resolved by 13 votes in favour

and none against to elect Shri Homi Kekhsaru Unwala as a member of the

Exchange in the place of Shri Soli Barjorji Bilimoria subject to the Rules and

Regulation of the Exchange.

7 The tenders for the aluminum windows of the podium of our new building

from (1) M/s Godrej & Boyce (2) M/s. Alumonde and (3) Beklabet

respectively for Rs. 5,11,665/-, Rs. 3,38,732/- and Rs. 4,07,748/- were

considered and it was resolved to accept the letter of M/s. Godrej and Boyce

for Rs. 5,00,000/- with glasses for the windows after confirming with them.

8 At the time of appointment of M/s. Manek & Dastoor as air-conditioning

consultants for our new building, terms of their remuneration were decided.

However, in the course of the correspondence with them, remuneration

except on the new terms mentioned in their letter dated 6-1-78 is not

acceptable to them. It is therefore resolved that instead of M/s. Manek &

Dastoor, M/s Raman & Associates should be appointed as air-condition

consultant through our architects-M/s. Architectural Research Unit with the

terms of arrangement made with M/s. Manek & Dastoor suitably modified

according to the present circumstances.

9 The application of Shri Vasantrai Damodar Mehta dated 17-2-78 nominating

Shri Bhupatrai Lalchand Shah as a member of the Exchange in his own place

was considered and after interviewing Shri Bhupatrai Lalchand Shah and his

recomender Shri Navalchand Tarachand Shah it was resolved by 13 votes in

favour and none against to elect Shri Bhupatrai Lalchand Shah as a member

Page 3 of 3

of the Exchange in the place of Shri Vasantrai Damodar Mehta subject to the

Rules and Bye-Laws of the Exchange.

10 The application date 15-2-78 of Mohan Steels for re-enlistment of their

securities for trading on the Exchange was considered and it was resolved to

re-admit their securities in our list of Non Cleared Securities.

11 The listing application of the under mentioned companies were considered



special requirements on such conditions as it may deemed proper by the

Chairman, their securities should be included in our list of Non- cleared

Securities and their trading lots should be fixed as shown below:

Mukarian Papers Ltd. Equity 50 Shares

Sarvodaya Investment Equity 50 Shares

and Trading Co. Ltd

12 The letter dated 6-3-78 of Shri Mahesh J Patel informing that the

undermentioned companies had dropped their public issues were considered

and it was resolved to give their listing applications.

1) Acme Investments Ltd.

2) Gold Rock Investments Ltd.

3) Silver Line Investments Ltd.

sd/- sd/-

A.J Shah J. R. Motishaw

Secretary President

Date: 2-5-78

Page 1 of 6

Tuesday 2-5-78


4.00 p.m.in the beginning under the Chairmanship of Seth J. R. Motishaw and later

under the chairmanship of Shri Mathradas Samaldas wherein the under mentioned

Members of the Board were present:

Seth Mathradas Samaldas Seth Bhupendra Champaklal Devidas

Seth Phiroze Jeejeebhoy Seth J. R. Motishaw

Seth Vasantlal Champaklal Seth A. R. Mahadevia

Seth Jaswantlal Chhotalal Seth Ashok Kumar G. Fozdar

Seth Vasantlal Kantilal Shah Seth Jayantilal Rangildas Khandwala

Seth Jayant Amerchand Seth Purshottam G. Ruiya

Seth Rasiklal Maneklal Seth Chhotalal Devchand

Seth Vasantlal Jivatlal

Government Nominee

Shri M. R. Mayya

Shri J. G Gogte


1 Proposal by Seth Jayant Amerchand and seconded by Seth Purshottam

Gopiram Ruiya, Seth J. R. Motishow was unanimously elected as Chairmen

of today’s meeting in the beginning.

2 Proposed by Seth J. R. Motishaw and supported by Jayant Amerchand it was

unanimously reelected that Shri Mathradas Samaldas Kothari should be

elected as President.

Seth J. R. Motishow handed over the Chairmanship of the meeting to

Seth Mathradas Samaldas

Seth Mathradas Samaldas thanked all the Members of the Board for the

trust / reposed in him by them. Expressing his sense of gratitude for the

support and cooperation given to him last year by all the members of the

Board and Government Nominees, be expressed hope that during the

current year also they would continue giving support and cooperation in the

same manner.He congratulated Seth Bhupendra Champaklal for being

elected to the Board and welcomed him.

Page 2 of 6

3 Proposed by Seth Jayant Amerchand and supported by Seth Ashokkumar G.

Fozdar it was unanimously resolved to elect Seth Vasantlal Champaklal

Mashruwala as the Vice-President.

4 Proposed by Seth Mathradas Samaldas and supported by Seth Jayant

Amerchand it was unanimously resoled to elect Shri Navinchandra

Chhaganlal Kampani as the Hon. Treasurer

5 Resolved that the undermentioned persons should be nominated as

members of the Arbitration Committee for the year 1978-79

Shri Keki N. Chinoy Shri V. K. Nanvati

Shri Jayantlal M. Dalal Shri Jayarndra D. Mehta

Shri Champaklal Balubhai Marfatia Shri Rasiklal S. Jhaveri

Shri D. V. Shukla Shri Govindbhai B. Desai


Shri Bhagubhai Amthalal Gandhi Shri Ramdas Lallubhai

Shri S. M. Shah Shri Shirish Chimanlal Dave

Shri Nagindas Trambaklal Parekh Shri Kirtilal K. Shah

6 Resolved to appoint the Arbitration Committee for the year 78-79 consisting

of the under mentioned Members

Seth Jayant Amerchand Seth Jayantilal Mansukhlal Dalal

Seth Vasantlal Kantilal Shah Seth Rasiklal S. Jhaveri

Seth Jasvantlal Chhotalal Seth Nagindas Trambaklal Parekh

7 Resolved to appoint Sir Shopoorji Broacha Brokers Helping Fund Committee

consisting of the undermentioned Members :

Seth Mathradas Samaldas Seth Vasantlal Champaklal Mashruwala

Seth J. R. Motishaw Seth Dhirajlal Maganlal

8 Resolved to appoint the Building Committee consisting of S/Shri Mathuradas

Samaldas, Vasantlal Champaklal Mashruwala, J. R. Motishaw, Jayant

Amerchand, Rasiklal Maneklal, Vasantlal Kantilal Shah, and Jaswantlal

Chhotalal

9 “Resolved that cheques be signed by the President Shri Mathradas

Samaldas, or the Chairman Shri P. J. Jeejeebhoy, or the Vice-President Shri

Vasantlal Champaklal, or the Hon. Treasurer Shri Navinchandra Chhaganlal

Kampani and any one of the following six members of the Governing Board

Page 3 of 6

namely, Shri J. R. Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand,

Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A. R.

Mahadevia and be countersigned by the Secretary Shri A. J. Shah and in his

absence by Shri S. N. Karaka or Shri M. D. Vyas,”

10 “Resolved that the various Accounts and Safe Custody Account of the

Exchange with the Bank of India be operated on jointly by the President

Shri Mathradas Samldas, or the Chairman Shri P. J. Jeejeebhoy, or the Vice-

President Shri Vasantlal Champaklal, or The Hon. Treasurer Shri

Navinchandra Chhaganlal Kampani and by any one of the following six

members of the Governing Board, namely, Shri J. R. Motishaw, Shri Rasiklal

Maneklal, Shri Jayant Amerchand, Shri Vasantlal Kantilal Shah, Shri


Secretary, Shri A. J Shah and in his absence by Shri S. N. Karaka or Shri M.

D. Vyas,”

11 “Resolved that the Current Accounts and Safe Custody Accounts with Bank

of India in the name of The Stock Exchange Staff Provident Fund and The

Stock Exchange Staff Gratuity Fund be operated on either by any two of the

Trustees of the Exchange for the time being of the survivors or survivor of

them or jointly by the Hon. Treasurer Shri Navinchandra Chhaganlal

Kampani, and any one of the following Six Members of the Governing Board

namely, Shri J. R. Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand,

Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A. R.

Mahadevia and be countersigned by the Secretary Shri A. J. Shah and in his

absence by Shri S. N. Karaka or Shri M. D. Vays.”

12 The application of “Hind Kusta Nivaran Sangh”: Maharashtra Branch was

considered and it was resolved to give it a donation of Rs. 101/-.

13 The letter dated 03-04-1978 of Seth G. N. Kamdar of our office staff was

read and it was resolved to accept his resignation with effect from 01-05-

1978 and pay him his accumulated Provident Fund amount of Rs.

11,434.90 and Rs. 6,782.10 as Gratuity

14 The application dated 21-03-1978 of our Sepoy Tukaram Bhikaji, for loan

was considered and it was resolved to approve the loan of Rs. 3,000/- given

to him.

15 The application for loan of the under mentioned persons of our office Staff

were considered and it was resolved to give them loans as mentioned below

against their name;

Sepoy Madhukar Bhima Rs. 500/-

Sepoy Pandurang Zilu Rs. 2,000/-

Page 4 of 6

16 The application dated 01-04-1978 of our liftman Tukaram Laxman for giving

him help for the expenses for medicine incurred by him in connection with

the operation of cataract in his eye was considered and it was resolved to

give him help of Rs. 113/- from Seth KRP Shroff Stock Exchange Sarrajanik

fund.

17 The application for the undermentioned partnership were considered and

approved

Name of the Partnership Firm Name of Partner Date of

Partnership

M/s. S. A. Deshpande & Co. Shri Shankar Amrut Deshpande

Shri Hasmukhlal Maneklal Shah

Shri Bhupendra Lalchand Seth

1-4-78

M/s. Girdharlal Dhanraj

Khaitan

Girdharilal Dhanraj Lhaitan

Jairaj Dhanraj Khaitan

17-4-78

18 The letters of the undermentioned members were considered and it was

resolved to give permission for doing business as Representative Members

as shown below.:


M/s. CRD Bagri & Sons Shri Jayantilal N. Jariwala

Shri Harkishan M. Shah Shri Jamnadas Kanji Varza

19 The application dated 10-3-78 of the near relations of the Late Shri

Shantilal Liladhar Thar, nominating Shri Jitendra Ratilal Shroff as a Member

of the Exchange in the place of the Late Shri Shantilal Liadhar Thar was

considered and after interviewing Shri Jitendra Ratilal Shroff and his

recommenders S/Shri Kekhsaru M. Kheshawala and Rasiklal S. Jhaveri it

was resolved by 13 votes in favour and none against to elect Shri Jitendra

Ratilal Shroff as a Member of the Exchange in the place of the Late Shri

Shantilal Liladhar Thar, subject to the Rules and Regulation of the

Exchange.

Shri Rasiklal Maneklal joined the meeting at this moment.

20 Tha application dated 15-3-78 of Shri Kalyanbhai Maganlal nominating Shri

Hiralal Keshavdev Podar as a member of the Exchange in his own place was

considered and after interviewing Shri Hiralal Keshavdev Podar and his

recommenders S/Shri Bhagwandas K. Suchde and Damodarprasad R.

Saboo, it was resolved by 14 votes in favour and none against to elect Shri

Page 5 of 6

Hiralal Keshavdev Podar as a Member of the Exchange in the place of Shri

Kalyanbhai Maganlal, subject to the Rules and Regulation of the Exchange.

21 The application dated 13-4-78 of Shri Gordhandas Bhagwandas nomination

Shri Kanchanlal Kantilal Vakharia as a member of the Exchange in his own

place was considered and after interviewing Shri Kanchanlal Kantilal

Vakharia and his recommenders S/Shri Ramdas Lallubhai and Jitendra

Champaklal Mashruwala it was resolved by 14 votes in favour and none

against to elect Shri Kanchanlal Kantilal Vakharia as a Member of the

Exchange in the place of Shri Gordhandas Bhagwandas subject to the Rules

and Regulation of the Exchange.

22 The correspondence with Bright Wires Limited regarding re- enlistment of

its securities for trading in the Exchange was considered and it was resolved

to re-admit it securities in the list of securities traded on the Exchange.

23 The Listing application of the under mentioned companies were considered



special requirements stipulated by us on such conditions as may be deemed

proper by the Chairman, their securities should be included in our list of

Non-Cleared Securities and their trading lots should be fixed as shown

below:

Press Metal Corporation Ltd. Equity 50 shares

Garare Wall Ropes Ltd. Equity 50 Shares

Thefted carpets and Woolens Industries Ltd. Equity 50 Shares

Kerala Chemicals and Proteins Ltd. Equity 50 Shares

Housing and Development Finance Corporation Ltd. Equity 5 Shares

24 The letter of the undermentioned companies were read and it was

unanimously resolved that some of these companies do not want their

securities to continue in our list of securities traded on the Exchange, their

securities should be removed from the list of securities traded on the

Exchange.

Jugilal Kamalapet Cotton Spg & Wvg. Mills Co. Ltd.

National Rubber Manufacturers Ltd.

25 As the Preference Shares of L. G. Rubber Works Ltd. have been redeemed,

it was unanimously resolved to remove those shares from our list of

Securities traded on the Exchange.

26 The Chairman explained the present position regarding our new building

under construction and informed that the tenders received for its civil work

Page 6 of 6

were being scrutinized. He added that due to escalation of cost during the

time the construction work had stopped, the Otis Elevator Company had

increased the prices of lift and now we shall have to pay the price of about

Rs. 7,00,000/- per lift.

27 As our Plumbing consultant M/s. Hydro Mechanical Services have asked for

an increase in their fee for the work relation to preparation of new drawing

Report and Tender for fire fighting facilities etc. the matter was considered

and it was resolved to increase the amount of their fees by approximately

Rs. 15,000/-.

28 After having considered the tenders of M/s. Hercules Rolling Shutters, M/s.

Swastik Rolling shutters, M/s. A. P. Ornamental Shutters and M/s

Shubhdwar Rolling Shutters for Rs. 74,601/50 , Rs. 57,111/82, Rs,

53,576/25 and Rs. 68,10327 respectively for shutters of the Podium of our

new it was resolved to accept the tender of M/s. A. P. Ornamental

29 The Chairman informed the Board that as against our members requirement

of 5,000/- Transfer forms per day, we receive from the Registrar of

Companies about 5,000 forms, members have lot of difficulty in getting

delivery of Shares. In view of this, we have been making efforts to obtain

an electronic machine which could make endorsement on the transfer forms

with greater speed and if we succeed in that we should give one such

machine to the Registrar of Companies for use so that it becomes easy to

supply transfer forms to our members according to their requirements.

Sd/- Sd/-

A. J. Shah Mathradas Samaldas

Secretary President

Date: 26-5-78

Page 1 of 3

Friday, 26-5-78.

A meeting of the Governing Board of the Stock Exchange was held today,at S.T. 3.00 pm

was held under the Chairmanship of Seth Mathradas Samaldas wherein the


Seth Mathradas Samaldas Seth Vasantlal Jivatlal

Seth Phiroze Jeejeebhoy Seth Bhupendra Champaklal Devidas

Seth Vasantlal Champaklal Seth J. R. Motishaw

Seth Vasantlal Kantilal Shah Seth A.R. Mahadevia

Seth Navinchandra Chhaganlal Seth Jayantilal Rangildas Khandwala

Kampani


Seth Rasiklal Maneklal Seth Chotalal Devchand

Government Nominees

Shri J.P. Mukherjee

Shri M.R. Mayya


1. The application dated 23-3-78 of the Poona School and Home for the Blind was

considered and it was resolved that a donation of Rs. 101/- should be given to it.

2. The applications for loan of the undermentioned persons of our office staff were

considered and it was resolved to grant them loan as mentioned below

a. Shri N.M A/c ---------------------- Rs. 5000/-

b. Liftman Tukaram Laxman ------- Rs. 2000/-

3. The application of Shri Harivallabhdas Chunilal Shroff dated 26-4-78 nominating

Shri Keshavji Dhanji as a member of the Exchange in his own place was considered

and after interviewing Shri Keshavlal Dhanji, and his recommenders S/Shri

Jayantilal G Shah and Manek H.P Byramji, it was resolved by 10 votes in favour and

3 against to elect Shri Keshavlal Dhanji as a member of the Exchange in the place

of Shri Harivallabhdas Chunilal Shroff, subject to the Rules and Regulations of the

Exchange on the condition that he should not do business in the market in his own

name until 9-4-80.

Page 2 of 3

4. Resolved that Seth J.R. Motishaw, and Seth Rasiklal Maneklal, and S/Shri A.J. Shah

and S.N. Karaka should be appointed as Trustees of the Stock Exchange Staff

Provident Fund.

5. Resolved give approval to the donation of Rs. 3,50,000/- given from Stock

Exchange Education and Research Services Fund by its Trustees to the Stock

Exchange Foundation (which has been approved under Section 35(1) of the Income

Tax Act) for Social Services Research on the condition that Rs. 3,00,000/- out of

that donation will be regarded as corpus.

6. Having considered the tender for the Civil work of our new building submitted by

M/s B.E. Billimoria & Co. and Mona Construction of Rs. 55,77,251/13 and Rs.

81,17,891/37 respectively, it was resolved to accept the tender of M/s B.E.

Billimoria & Co.

7. Resolved to approve the lumpsum payment of Rs. 7,00,000/- made to our

contractors Engineering Construction Corporation for all the expenses relating to

labour, material, form work, ware-house rent, insurance, investment of money,

dispersal and re-establishment of the work facilities during the period of more than

2½ years of stoppage of construction work of our new building from the month of

March 1975, and also to approve the decision of giving an increase of 10% of in the

original tender rates for the remaining work in the view of the escalation of prices

during the above mentioned period of 2½ years.

8. The listing applications of the undermentioned Companies were considered and it

was unanimously resolved that, subject to the Listing Rules and Regulations as well

as Compliance with the usual requirement and other special requirements

stipulated by us according to the conditions as may be deemed proper by the

Chairman, their below mentioned securities should be included in our list of Non-

Cleared Securities and their trading lots should be fixed as shown below:

a. Rasoi Vanaspati and Industries Ltd. ---Equity---50 Shares

b. Vishal Malleables Ltd. --------------------Equity—50 Shares

9. The correspondence with Gujarat Machinery Manufacturers was gone through and it

was unanimously resolved to remove its securities from our list of securities traded

Page 3 of 3

on the Exchange as the company has failed to comply with our listing requirements

inspite of repeated warnings and to give an assurance or clarification sought by us.

10. As Shri J.P. Mukherjee was getting promoted from his present rank in the Finance

Ministry and joining the Company Law Ministry as Joint Secretary, the President

congratulated him on his own behalf and on behalf of the Board and wished him

success in the new post and also expressed the hope that Shri Mukherjee will

continue to give us the benefit of his valuable advice, guidance, support and co-

operation as before.

Sd/ Sd/

A.J. Shah Mathradas Samaldas

Secretary President

Dt: 27-06-08

Page 1 of 4

Tuesday, 27-6-78

A Meeting of the Governing Board of the Exchange was held today at 3.00 P.M.

under the Chairmanship of Seth Mathradas Samaldas wherein the undermentioned


Seth Mathradas Samaldas Seth Rasiklal Maneklal

Seth Phiroze Jeejeebhoy Seth Vasantlal Juratlal

Seth Vasantlal Champaklal Seth Bhupendra Champaklal Devidas

Seth Jasvantlal Chhotalal Seth J. R. Motishaw

Seth Vasantlal Kantilal Shah Seth A. R. Mahadewa

Seth Navinchandra Chhaganlal Kampani Seth Jayantilal Rangildas Khandwala



Government Nominees

Shri M. R. Mayya

Shri M. L. Chavla

Shri R. N. Bansal

Shri J. G. Gogte


1. Shri L. R. Munjal, Jt. Director, Finance Ministry Government of India, was present

by invitation. The President mentioned that Shri L. R. Munjal was to be

transferred from his present post and thanked him for the support and co-

operation given by him to the Board and also wished him success in his new post.

The President also mentioned that Shri M. R. Mayya was to be promoted and was

to go to Delhi in place of Shri Z. R. Munjal and in his place here Shri M. Z.

Chavla has been appointed as Dy. Director and Government Nominee on our

Board. He welcomed Shri Chavla and congratulated both of them success in their

new posts and also expressed hope that the Board will continue to get their

valuable support and co-operation as before.

Page 2 of 4

2. The application dated 26-6-78 of our office staff Shri V. K. Suvarna was

considered and it was resolved to give him a loan of Rs. 3,000/-.

3. The letter dated 30-5-78 of Shri Naresh Jetsi was considered and it was resolved

to give him permission to do business in the market in his own name.

4. The letter dated 9-6-78 of Shri P. D. Shukla and Shri Kishorji Dhanji were

considered and it was resolved to give permission to Shri Kishorji Dhanji to do

business as a Representative Member of Shri P. D. Shukla.

5. The application dated 1-6-78 of S/Shri Vinayak Bhikaji Desai and Jitendra Ratilal

Shroff was considered and it was resolved to approve their partnership under the

name of M/s. V. B. Desai from 6-6-78.

6. The letter dated 20-6-78 of Shri M. J. Halai was considered and it was resolved

that as he has been forbidden from doing business there is no question of issuing

a badge to him or any other person for entering the trading hall .

7. The Report, Income and Expenditure account and Balance sheet of our


8. According to the existing Rules and Regulations adjustment of interest in the case

of transactions in the Government Securities is made on net basis. The

Government’s letter dated 11-5-78 suggested that the adjustment should be

made on the gross interest basis was considered and the matter was postponed

for further consideration.

9. The application dated 27-5-78 of the near relatives of the Late Shri Hiralal

Liladhar Sheth nominating Shri Bharat Hiralal Sheth as a member of the

Exchange in the place of the Late Shri Hiralal Liladhar Sheth was considered. In

that connection, the letters of S/Shri Dwarkadas J. Madnani, Bhajandas

Jethanand Madnani, Jaysukh A. Sampat and Shyam G. Prajapati dated 5-6-78, 9-

6-78, 12-6-78 and 17-6-78 respectively were considered and after interviewing

the above mentioned Shri Bharat Liladhar Sheth and his recommenders S/Shri

Prabhudas Liladhar and K. C. Vakharia it was resolved by 12 votes in favour and

Page 3 of 4

2 against the application of Shri Bharat Liladhar Shah to elect him as a member

of the Exchange in the place of the Late Shri Hiralal Liladhar Sheth to the Rules

and Regulations of the Exchange and on the condition that he should not do

business in the market in his own name for two years and even after that he

should not do business in his own name without obtaining the permission of the

Governing Board.

10. The application of Ogle Glass Works Ltd. dated 13-6-78 for re-enlistment of its

securities for trading on the Exchange and it was unanimously resolved to re-

admit its securities in our list of Non-Cleared Securities.

11. The listing applications of the undermentioned companies for en-listment of their

Securities on the Exchange were considered and it was unanimously resolved

that, subject to the Listing Rules and Regulations as well as Compliance with the

usual requirements and such other special requirements stipulated by us,

according to the conditions as may be deemed proper by the Chairman, their

Securities should be included in the list of non-cleared securities and their trading

lots should be fixed as shown below:

Kinetic Engineering Ltd….. Equity…..50 Shares

Goetz India Ltd…………… Equity…..50 Shares

Refractory Specialities (India) Ltd… Equity…..50 Shares

Pressure Cookers & Appliances Ltd. Equity…..50 Shares

Tata Robins Frazers Ltd….. Equity…..50 Shares

Core Products Co (India) Ltd…. Equity…..50 Shares

India Carb Ltd……. Equity…..50 Shares

Gajara Bevel Gears Ltd…… Equity…..50 Shares

Kartak Investments Ltd….. Equity…..50 Shares

Oscar Investments Ltd…. Equity…..50 Shares


Investment Corporation of India… 6½ % Debentures (1998)

12. Unanimously resolved to remove the Securities of Sundalta Foods and Fibres

Ltd. from our list of securities traded on the Exchange, as it has been merged

with Modern Mills Ltd.

Page 4 of 4

13. Unanimously resolved to remove the under mentioned securities from our list

of Securities traded on the Exchange as they have been redeemed:

Indian Aluminum Co. Ltd. ……….. 6½ % Debentures 1998

Mysore Cements Ltd. ……… 9.5% Preference Shares

Sd/- Sd/-


Secretary President

Dt. 10-8-1978

Page 1 of 8

Thursday, 10-8-78

A meeting of the Governing Board of Exchange was held today at S. T. 3.00 pm

under the Chairmanship of Seth Mathradas Samaldas, wherein the undermentioned

members of the Governing Board were present.

Seth Mathradas Samaldas Seth Rasiklal Maganlal

Seth Phiroze J. Jeejeebhoy Seth Vasantlal Jivatlal

Seth Vasantlal Champaklal Seth Bhupendra Champaklal Devidas



Seth Laldas Jamnadas Seth Ashok Kumar Girdharlal Fozdar

Seth Navinchandra Chhaganlal Kampani Seth Purshottam G. Ruiya


Government Nominees

Shri M. L. Chavla

Shri R. K. Bansal

Shri J. G. Gogte

Shri L. R. Munjal and Shri M. R. Mayya were present by invitation.

The following business was transacted in the meeting.

1 The application dated 5-8-78 of our sepoy Vilas Gajendra for granting his

college fees for the first term of BA. ( Part First) was consider and it was

resolved to grant him fees from Shri M. C. Mehta Smarak Fund.

2 The application of the undermentioned staff of our office for Home loans


showing against their names below:

Shri K. V. Shankar Rao Rs. 20,000/-

Shri T. G. Babu Rs. 5,000/-

Shri ABS Nayar Rs. 5,000/-

3 The letters of the undermentioned members were considered and it was

resolved to give them permission for doing business in the market as

Representative Members as shown below:

Nominating member Representative member

Shri J. D. Sanghavi Shri N. K. Sanghavi

M/s. Prabhudas Liladhar M/s. Hiralal Liladhar

M/s. kantilal Ishwarlal Shri Dhirajlal Kalyanji Vora

Page 2 of 8

4 In connection with the complaint of Shri D.K. Bharucha against Shri. J. T.

Halai and the correspondence with them after hearing them it was

unanimously resolved that taking into consideration the complaints against

Shri J. T. Halai and also that he had been doing business in his own name

inspite of having been banned, he should be expelled from the membership

of the Exchange, for his conduct not fulfilling a member of the Exchange.


Bhanuprasad Jethalal Mahadevia nominating Shri Jagmohandas Varajdas

Dalal as a member of the Exchange in the place of the late Shri

Bhanuprasad Jethalal Mahadevia was considered and after interviewing Shri

Jagmohandas Varjdas Dalal and his recommenders S/Shri R. V. Varde and

Madhusudan D. Ghia it was resolved by 14 votes in favour and none against

to elect Shri Jagmohandas Varajdas Dalal as a member of the Exchange in

the place of the late Shri Bhanuprasad Jethalal Mahadevia, subject to the

Rules and Regulation of the Exchange.

6 RESOLVED THAT pursuant to the resolution of the member of the Exchange

dated 20th December, 1974, the Stock Exchange do agree with General

Insurance Corporation of India to borrow sum not exceeding in the

aggregate the amount of Rs. 1,825,46,000/- with interest @ 8% p.a. on

condition that as from a suitable date to be mutually agreed upon the same

be repaid by the Exchange over a period of 15years by fixed equal monthly

installments of principal and interest @ 8% p. a. on the average of the

reducing balance of the principal amount. The fixed equal monthly

installment for an advance of Rs. 1 Lakh being Rs. 890.750 (i.e. Rs.

555,555 towards principal and Rs. 335.195 towards interest), and to secure

the said advance and interest and all other money payable in respect

thereof the Exchange do agree to a enter into an Agreement with the

Corporation agreeing to create in favour of the corporation a mortgage on

the immoveable properties of the Exchange ranking pari pasu with the

mortgage created or to be created in favour of other lenders and the

Exchange to further agree with the Corporation to execute in its favour an

irrevocable Power of Attorney authorizing the Corporation to create such

mortgage on behalf of the Exchange SUBJECT HOWEVER TO – (i) the prior

charge in respect of the Rs. 2 crores 8% Debenture Stock, 1981-86 issued

by the Exchange together with interest and all other money payable as well

as any renewal with or without modification in respect thereof and

subsequent charge in favour of Central Bank of India an / or other parties

securing a sum not exceeding Rs. 75 lakhs in the aggregate advanced by

them to the Exchange together with interest and all other moneys payable

Page 3 of 8

in respect thereof; (ii) the proviso that the amount advanced by Central

Bank of India / or other parties as aforesaid and outstanding at any given

time together with the amount secured under mortgage as aforesaid for the

benefit of the Corporation and the said lenders at any given time shall not

exceed Rs. 5 crores in the aggregate; (iii) the right of the Exchange to

demolish the temporary structures and the Apollo Street building and the

right to lease premises in the new building under construction for a period

upto 20 years.

FURTHER RESOLVED THAT Shri Mathradas Samaldas, the President,Shri J.

R. Motishaw, Member of the Governing Board, and Shri A. J. Shah, the

Secretary of the Exchange, be and are hereby authorized to do the needful

in the aforesaid matter and in particular to approve and sign for and on

behalf of the Exchange any Agreement or Agreements and to do and

execute such other deeds, documents, writing and things ( including an

Irrevocable Power of Attorney) that may be deemed necessary.

(B) RESOLVED THAT: pursuant to the resolution of the members of the

Exchange dated 20th December, 1974 The Stock Exchange do agree with

General Insurance Corporation of India to give on lease four tower floors in

the new building under construction for term of three years with options on

the part of the Corporation to renew the leas for further terms of three

years each at the rent of Rs. 2.20 per sq. ft. and on other suitable terms

and conditions.

FURTHER RESOLVED THAT: Shri Mathradas Samaldas the President, Shri J.

R. Motishaw Member of the Governing Board and Shri A. J. Shah the

Secretary of the Exchange, be and are hereby authorized to do the needful,

in the matter aforesaid and particulars to approve and sign for and on

behalf of the Exchange any Agreement of Agreements and to do and

execute such other deeds, documents, writing and things that may be

deemed necessary.

(c.) RESOLVED THAT pursuant to the Resolution of the members of the

Exchange dated 20th December, 1974 The Stock Exchange do agree with

General Insurance Corporation of India to provide and / or cause to be

provide Air-conditioning services and other special amenities; services and

facilities at the monthly charge of Rs. 1.75 and Rs. 2.20 per sq. ft.

respectively on four tower floors in the new Building under construction

agreed to be leased to the Corporation for the period co-extensive and co-

terminus with the period of the lease or any renewals thereof.

FURTHER RESOLVED THAT Shri Mathradas Samaldas the President, Shri J.

R. Motishaw Member of the Governing Board and Shri A.J. Shah, the

Page 4 of 8

Secretary of the Exchange, be and are hereby authorized to do the needful

in the matter aforesaid and in particular to approve and sign for and on

behalf of the Exchange any Agreement of Agreements and to do execute

such other deeds, documents, writing and things that may be deemed

necessary.

7 The Board noted the letter dated 10-8-78 of our Trustees giving their

consent to the arrangement made in connection with four tower floors in

our new building under construction to be given on lease to the General

Insurance Corporation of India and the loan of Rs. 1,20,46,000/- to be

given by to the Stock Exchange as mentioned above. The space in the

western part of the ground floor of the above mentioned building to be

given on lease for a period of upto 15 years to the Bank of India and buy-

back of the 8% Stock Exchange debenture of Rs. 47,50,000/- in fixed

suitable installments from the lease rent and / or Air-condition or other

service charges payable by the Bank.

8 Resolved that the salaries and grades of our Secretary and the officers

should be fixed as shown below against their names with effect:

Name Grade Salary Date

Shri A. J. Shah Rs. 3125-125-4000 3125 1-1-75

Shri R. R. Nair Rs. 2600-100-3000 2600 1-1-76

Shri J. M. Lalco Rs. 1500-50-1750 1700 1-1-78

Shri S. N. Karaka Rs. 1500-50-1750

-75-2050

1600 1-1-78

Shri K.V.B.S. Rao Rs. 1250-50-1750 1450 1-1-78

Shri M. D. Vyas Rs. 1250-50-1750 1400 1-1-78

Shri Nariman N. Dubash Rs. 1250-50-1750 1400 1-1-78

Shri G. N. Purohit Rs. 750-50-1250 850 1-1-78

More over our secretary Shri A.J.Shah and the statistical officer Shri

R.R.Nair should be given an increase of Rs.100/- with the effect from 1-1-

78 in the monthly allowance given to all the persons pursuant to the Board’s

Resolution dated 18-2-75

9 Resolved that pursuant to the arrangements that has been decided, grades,

salaries, dearness allowance etc. of our office Clerks, Sepoy and others

should be raised and kept as under with effect from 1-9-77

‘A’ Grade Clerk: Rs. 200-15-260-20-400-25-600

‘B’ Grade Clerk Rs. 90-9-135-11-190-13-255-16-335

‘C’ Grade Clerk Rs.70-7-105-9-150-11-205-12-265

Dispatch, Xerox etc. Rs. 50-6-86-7-156-8-212

Page 5 of 8

Sepoy / Watchman / Liftman Rs. 40-5-90-6-138-7-180

Bhatt / Hamal / Sweeper Rs. 36-4-68-5-118-6-148

Those whose salary dose not fit appropriately in their grade on 1-9-77

should be placed in the next higher stage in the grade and adjusted

accordingly and the annual increment from 1-1-78 should be given in the

grade from the step so raised:

Dearness allowance:

‘A’ and ‘B’ Grade Clerk Rs. 400/- p.m.

‘C’ Grade Clark Rs. 350/- p.m.

The remaining Subordinate Staff Rs. 250/- p.m.

The dearness allowance will be increased or decreased by Rs. 2.75 for every

raise or fall of 10 points respectively etc., in the Consumer Price Index No.

1021 according to the fix monthly average of the old Index of Bombay

Consumer Price Index (1937 Base)

Medical Benefit : from 1-1-78 to the permanent Staff members, 75% of the

medical bill subject to the maximum limit of Rs. 200/- per annum.

Leave travel Assistance : from 1-1-78 to the permanent staff member

where they go on at least 20 days privilege Rs. 150/- only once in the year

or rs. 300/- only once in two year.

Sick Leave: To the permanent staff members 14 days for every one year’s

service on ½ of the salary and ½ of the allowance. Sick Leave can be

accumulated upto a maximum of 60 days and it would not be obligatory to

utilize all the accumulated privilege live before taking benefit by the sick

leave.

10 The application dated 22-6-78 of Andhra Steel Corporation Ltd., for re-

enlistment of its securities for trading on the Exchange was considered and

it was unanimously resolved to re-admit its securities in our Non-Cleared

Securities list

11 The listing applications of under mentioned companies were considered and

it was unanimously resolved that, subject to listing Rules and Regulations as

well as compliance with the usual requirements and others special

stipulated by us on such considerations as may be deemed proper by the

Chairman, their Securities should be included in our list of Non-Cleared

Securities List and their trading lots should be fixed as shown below:

Konark Jute Ltd. Equity 50 Shares

Ponds (India) Ltd. Equity 50 Shares

Acemeasures Punjab Ltd. Equity 50 Shares

Page 6 of 8

Warren Tea Ltd. Equity 50 Shares

Macleod Russel (India) Ltd Equity 50 Shares

Kalinde Woollon Mills Ltd. Equity 50 Shares

Gold Rock Investments Ltd. Equity 50 Shares

M. M. Rubber Co. Ltd. Equity 50 Shares

North Beher Sugar Mills Ltd. Equity 50 Shares

Hariyana Sheet Glass Ltd. Equity 50 Shares

Mahavali Investment Co. Ltd. Equity 50 Shares

Cresent Dyes and Chemicals Equity 50 Shares

12 Unanimously resolved to remove the 8% First and Second series

Debentures of Modi Industries Ltd., from our list of the Securities traded on

the Exchange as may have been redeemed.

13 The letter of the Surat Electricity Co. Ltd. dated 17-4-78 was considered

and it was unanimously resolved to remove its 7¾ % Debentures from the

list of Securities traded on our Exchange.

Sd/- Sd/-


Secretary President

Date: 24-10-78

Page 7 of 8

The Governing Board had passed undermentioned resolution by the circular dated

29-8-78:

“The representation dated 26-8-78 of Shri Vinaychandra Narbheram Parekh

and other members was considered and it was resolved that as Thursday,

7-9-78 Samvat holiday of Shankerseth Jains our market should kept closed

for business on that day.”

Sd/- Sd/-


Secretary President

Date 24-10-78

The Governing Board had passed the following resolution by Circular dated 21-9-78

“RESOLVED THAT it be arranged with the Andhra Bank Ltd. to grant to the

Exchange cash credit facilities to the extent of Rs. 20 lakhs and the

Exchange do agree to create in respect thereof a mortgage of the

immovable property to the Exchange situate at the junction of Dalal Street,

Apollo Street and Hamam Street, Bombay,in favour of the Bank ranking pari

passu with existing charge thereon of Central Bank of India to the extent of

Rs. 55 lakhs, i.e., to extent of Rs. 75 lakhs in the aggregate, subject to the

prior charge of the holders of the 8% Debenture Stock, 1981-86 and further

subject to the right of the Exchange to demolish the temporary structure

and the 4th and 5th floor of the Apollo Street Building and the right to lease

premises in the new building under the construction for a period upto 20

years and do execute all agreements, deeds, documents and writing as may

be required by the Andhra Bank Ltd. for the purposes aforesaid

FURTHER RESOLVED THAT all necessary documents as may be required by

the Andhra bank Ltd. including an irrevocable Powers of Attorney

authorizing the Bank to execute on behalf of the Exchange a mortgage as

aforesaid be executed on behalf of the Exchange by the President of Vice-

President, a Member of the Governing Board and the Secretary and the Seal

of the Exchange be affixed thereon.

FURTHER RESOLVED THAT: a Currant Account be opened with The Andhra

Bank Ltd., Fort, Bombay, in favour of The Stock Exchange, Bombay and

that the said Account be operated by the President, Shri Mathradas

Samaldas, or the Chairman of Shri P. J. Jeejeebhoy, or the Vice-President,

Page 8 of 8

Shri Vasantlal Champaklal or the Hon. Treasurer, Shri Navinchandra

Chhaganlal Kampani and any one of the following six Members of the

Governing Bard, namely, Shri. J. R. Motishaw, Shri Rasiklal Maneklal, Shri

Jayant Amerchand, Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal

and Shri A. R. Mahdevia and be countersigned by the Secretary, Shri A. J.

Shah and in his absence by Shri. S. N. Karaka or Shri. M. D. Vyas.”

Sd/- Sd/-


Secretary President

Date 24-10-78

Page 1 of 7

Tuesday, 24-10-1978


p.m. under the Chairmanship of Seth Mathradas Samaldas, wherein the



Seth Phiroze J. Jeejeebhoy Seth Bhupendra Champaklal Devidas

Seth Vasantlal Kantilal Shah Seth J.R. Motishaw

Seth Navinchandra Chhaganlal Kampani Seth Ashokkumar Girdharlal Fozdar

Seth Jayant Amerchand Seth Jayantilal Rangildas Khandwala

Seth Rasiklal Maneklal Seth Purushottam Gopiram Ruiya

Seth Chhotalal Devchand Parikh

Government Nominees

Shri M.R. Mayya

Shri M.L. Chawla

Shri R.N. Bansal

Shri J.G. Gogte (Alternate)


1. Resolved that the time for doing muhurat business transactions for the

Vikram samvat 2035 should be kept from 6.15 to 7.15 pm on Tuesday, 31-

10-78.

2. The President informed the Board that Shri M.R. Mayya has been appointed

on our Board as the Government Nominee in the place of Shri J.P.

Mukherjee. He welcomed Shri Mayya and expressed hope that the Board

will continue to receive his valuable support and co-operation as before.

3. The applications of the undermentioned institutions for help were

considered and it was resolved to give a donation of Rs. 101/- to each of

them.

1) All India Deaf & Dumb Society.

2) Society for the vocational rehabilitation of the retarded.

3) Eduljee Framjee Allbless Leprosy Home.

4. The application of our officer Shri F.A. Sahukar for giving him assistance

towards the expenses for operation of prostate gland was considered and it

was resolved to give him assistance of Rs. 680.50 from Seth K.R.P. Shroff


Page 2 of 7

5. The letter dated 4-10-78 of Shri Amratlal Parmandas was read and it was

resolved to accept his donation of Rs. 1,501/- to Sir Shapoorji Broacha

Brokers Helping Fund, with thanks.

6. The application dated 7-9-78 of our office clerk Shri M.K. Shivaraman to

give him assistance towards the medical expenses during his sickness of

jaundice was considered and it was resolved to give him assistance of

Rs.330/- from Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund.

7. The application for loan of our office clerk Shri G.S. Tonpe for loan dated 7-

9-78 was considered and it was resolved to give him a loan of Rs. 1,000/-.

8. The application dated 9-8-78 of our pensioner Shri K.B. Daruwala was

considered and it was resolved that the pension that is being given to our

undermentioned persons should be increased and from 1-10-78 they

should be given pension monthly pension as shown against their names:

1. Shri Maganlal Jivabhai Desai Rs.300/-

2. Shri K.B. Daruwala Rs. 300/-

3. Shri Mahadev Atmaram Mane Rs. 70/-

4. Shri Bhiwa Babi Rs. 65/-

5. Shri Bhi Arjun Dhag Rs. 65/-

6. Shri Shankar Ratnoji Mane Rs. 75/-

9. The letter dated 29-8-78 of Shri Ashok Sunderlal was read and it was noted

that from 25-8-78 he has continued to do business as the sole proprietor of

the firm of M/s Khimchand Amerchand.

10. The applications for the undermentioned partnership were considered and

they were approved:

Name of the

Partnership Firm

Names of Partners Date of

Parnership

M/s J.V. Dalal Shri Jagmohandas Varajdas Dalal

Shri Nandkishore Jagmohandas

Dalal

22-8-78

M/s R.K. Joshi Shri Rajaram Kalidas Joshi

Shri Parikshit Rajaram Joshi

1-11-78

11. The letters dated 17-10-78 of S/shri Sanat M. Dalal and Upendra M. Dalal

were read and it was resolved to give permission to Shri Upendra M. Dalal

to do business as a Representative Member of Shri Sanat M. Dalal.

12. The President referred to the Board Resolution dated 1st November, 1977

and reported that Bank of India (hereinafter referred to as “the Bank”) had

at the request of the Stock Exchange agreed to continue to grant to the

Page 3 of 7

Stock Exchange demand loan facilities upto a list of Rs.17,50,000/- on

terms, conditions and security mentioned below:

Limit: Rs.17,50,000/-

Term: Demand- without prejudice to the demand nature

of the loan, it is to be repaid by annual

installments of Rs.3.50 lacs each commencing from

26.7.1977.

Rate of Interest: 6% over bank rate minimum 15% per annum with

quarterly rates.

Security: 1. Demand promissory notes by the Stock

exchange Bombay, in favour of the Bank;


3. Letter of Lien and Set-off;

4. Agreement of hypothecation in respect of the

Electronic Computer and other accessories

thereof alongwith a supplemental deed of

hypothecation;

5. Letter of Confirmation form L.444C. dated

3.11.77

Margin: 15%

The President requested the Governing Board to pass the necessary resolutions for

continuance of the loan facility, to confirm the debit balance in the account, the

documents executed and the security created in favour of the Bank in terms of the

Form L.444C sent by the Bank.



time to time by way of loan facility on terms as aforesaid and repayable

on demand upto a limit of Rs.17,50,000/- with interest at 6% over

Bank Rate minimum 15% per annum with quarterly rests or such other

terms and at such other terms and at such other rate/s of interest, as

may be notified by the Bank to the Stock Exchange from time to time.

2. THAT the Stock Exchange do confirm and acknowledge the debit

balance in the account, the documents executed and the security

created in favour of the bank, in terms of Form L.444 C sent by the

bank,and that in token of such confirmation and acknowledgement, the

Common Seal of the Stock Exchange be affixed to the said Form L.444

Page 4 of 7

C in presence of and the same may be signed on behalf of the Stock

Exchange by Mr. Mathradas Samaldas, President, and Mr. Jivanchand R.

Motishaw, Member of the Governing Board and countersigned by Mr.

Amritlal J. Shah, Secretary of the Stock Exchange.



confirmations of debt and /or security which may be required by the

Bank may be given on behalf of the Stock Exchange as heretofore.

4. AND THAT a copy of the foregoing resolutions certified to be a true

copy by the Chairman be furnished to the Bank.

13. The application dated 7-8-78 of Shri Kaikhushru Ardeshir Patel nominating

Shri Naval Hormasji Patel as a member of the Stock Exchange in his own

place was considered and after interviewing Shri Naval Hormasji Patel and

his recommenders Shri H.P. Byramji it was resolved by 11 votes in favour

and one against to elect Shri Naval Hormasji Patel as a member of the

Exchange in the place of Shri Kaikhushru Ardeshir Patel, subject to the


14. The application dated 31-7-78 of the near relatives of Shri Natverlal

Jivanlal Desai nominating Shri Jaykishan Harkishan Bohra as a member of

the Stock Exchange in the place of the late Shri Natwarlal Jivanlal Desai

was considered and after interviewing Shri Jaykishan Harikishan Bohra and

his recommenders S/Shri Mansukhbhai Maneklal and Satyanarayan Khaitan

it was resolved by 11 votes in favour and 1 against to elect Shri

Jayakishan Harikishan Bohra as a member of the Exchange in the place of

the late Shri Natwarlal Jivanlal Desai, subject to the Rules and Regulations

of the Exchange.

15. The application dated 24-8-78 of Shri Balubhai Tribhovandas Parekh

nominating Shri Dilip Manharlal Parekh as a member of the Exchange in his

own place was considered and after interviewing Shri Dilip Manharlal

Parekh and his recommenders S/Shri Augrias Bhogilal Mehta and Hiralal

Chunilal it was resolved by 10 votes in favour and none against to elect

Shri Dilip Manharlal Parekh as a member of the Exchange in the place of

Shri Babubhai Tribhovandas Parekh as a member of the Exchange subject


16. The application dated 22-9-78 of Shri Balubhai Maganlal Choksey

nominating Shri Dilip Kantial Choksey as a member of the Exchange in his

own place was considered and after interviewing Shri Dilip Kantilal Choksey

Page 5 of 7

and his recommenders S/Shri Pankaj Ishwarlal Kapadia and Sumatilal

Jamnalal it was resolved by 12 votes in favour and none against to elect

Shri Dilip Kantialal Choksey as a member of the Exchange in the place of

Shri Balubhai Maganlal Choksey, subject to the Rules and Regulations of

the Exchange and on condition that for two years he should not do

business in the market in his own name and even after that without taking

permission of the Governing Board.

17. The application dated 18-9-78 of Shri Shivdas Thakarsi Kothari nominating

Shri Mohammed Safi Barwadia as a member of the Stock Exchange in his

own place was considered and after interviewing Shri Mohammed Safi

Barwadia and his recommenders S/Shri V.K. Nanavati and Manubhai

Maneklal it was resolved by 9 votes in favour and 3 against to elect Shri

Mohammed Safi Barwadia as a member of the Exchange in the place of

Shri Shivdas Thakarsi Kothari subject to the Rules and Regulations of the

Exchange.

18. The Board considered the undermentioned tenders relating to Air-

conditioning of our new building:

1. Chilling package, cooling tower, Pump-set etc:

Voltas Rs. 54,87,000/-, Blue Star Rs.46,21,000/- Fric India Rs.

44,22,000/-

2. Air-handling Unit, Ducting, Grill, ventilation etc:

Voltas Rs. 50,46,000/-; Blue Star –Rs. 44,91,000/-; Fric India Rs.

53,92,000/-, Musa Haji Patrawala Rs. 41,52,000/-.

3. Chiller Water pipe plumbing etc:

Voltas Rs. 10,29,000/-; Blue Star –Rs. 9,48,000/-; Fric India Rs.

13,85,000/-Nipa Sanitation Rs. 9,99,000/-.

4. Electric Installation:

Voltas Rs.6,89,000/-; Blue Star Rs. 7,25,000/-; Shah Electric Rs.

6,88,000/-.

It was resolved to accept the tenders of Voltas for Chiller package etc.,

Moosa Haji Patrawala for Air-handling unit, ducting etc., Nipa Sanitation – for chiller

water pipe, plumbing, etc., and Shah Electric – for electrical installation.

19. For aluminum windows and curtain galzing of our new building, the Board

considered the tenders of – Godrej and Boyce Manufacturers Co. Pvt.Ltd. of

Rs.50,00,000/-, Backlawel of India Ltd of Rs.50,55,720/-, Jupiter Window

of Rs. 44,07,333/- and Ajit India of Rs.42,23,240/- and resolved that the

tenders submitted by Jupiter window should be accepted.

Page 6 of 7

20. The Board considered the tenders for fire hydrant and sprinkler installation

of our new building received from Firoze Karaka and Co., for Rs.8,25,622/-,

Bamboat & Co. for Rs.9,96,375/-, Nariman Malasara & Co for

Rs.10,63,548/-, Nipa Sanitation – Rs.11,55,710/-, Kuberji Deasi & Co –

Rs.12,44,608/-, Doka Engineering – Rs. 12,51,435/-, Mather & Platt

Rs.12,60,675/- and Vijay Machinery Stores Rs. 13,05,401/- and resolved

that the tender of Firoz Karaka & Co should be accepted.

21. The application of Gujarat Machinery Manufacturers Ltd., for re-enlistment

of its securities on the Exchange was considered and it was resolved to re-

admit its equity in our list of Non-Cleared Securities and Preference Shares

for trading on the Exchange and transaction lots of each kind of these

shares was fixed at 5 shares.

22. The listing applications of the undermentioned companies for enlistment of

their securities on the Exchange were considered and it was unanimously

resolved that subject to the Listing Rules and Regulations as well as

compliance with the usual requirements and such other special

requirements stipulated by us, according to the conditions as may be

deemed proper by the Chairman, their securities should be included in the

list of Non-Cleared Securities and their trading lots should be fixed by the

Chairman:

The Indian Card Clothing Co.Ltd. Equity

U.P. Twagi Fibre Glass Ltd. Equty

Bharat Aluminums and Chemicals Ltd. Equity

Papyrus Papers Ltd. Equity

Gabriel India Ltd. Equity

Andhra Pradesh Carbides ltd. Equity

Industrial & Agricultural Engineering Co(Bombay) Ltd Equity

Raprient Carbides Ltd. Equity

Darjeeling Plantation Industries Ltd. Equity

Hindustan Milk Food Manufacturers Ltd. Equity

Caprihans (India) Ltd. Equity

Hathiwa Vanaspati ltd. Equity

Metal Box Co. of India Ltd. Equity

Metal Box Co. of India Ltd. 7.75% of Debentures

Metal Box Co. of India Ltd. 10.5% Bonds

Bharat Steel Tubes Ltd. 11% Preference shares.

23. It was unanimously resolved that as merger has taken place of A.E.W.

Jenisys with Payer Talbrose Ld., International Tractor Co. of India ltd., with

Page 7 of 7

Mahindra and Mahindra Ltd and T.Maneklal & Co., ltd, with S.M. Maneklal

Industries Ltd; securities of A.E.W. Jenisys Ltd and T. Maneklal

Manufacturing Co.Ltd., should be removed from our list of securities traded

on the Exchange.

24. It was unanimously resolved that as the undermentioned companies have

not yet paid the Annual Listing Fee for the year 1978 though repeatedly

demanded their securities should be removed from our list of securities

traded on the Exchange if they do not pay up the fee before 27-11-78:

1. Associated Pulp and Paper Mills Ltd.

2. Asian Dehydrates Ltd.

3. Asiatic Oxygen Ltd.

4. Century Iron & Steels Ltd.

5. Hemkut Industrial Investment Co. Ltd.

6. Indo-American Electricals Ltd.

7. Ipco Paper Mills Ltd.

8. Jaipur Metals and Electricals Ltd.

9. Kothari Sugars and Chemicals Ltd.

10. Kerala Rubber and Reclams Ltd.

11. Katihar Jute Mills Ltd.

12. Laxmiratan Engineering Works Ltd.

13. Malbar Steamship Co. Ltd.

14. Mrathwada Alloy Steels Co.Ltd.

15. New board Manufacturing C. Ltd.

16. Nalanda Ceramics and Industries Ltd.

17. Standard Motor Products of India Ltd.

18. Trimurti Agro Chemicals ltd.

19. Unicorn Tyres Ltd.

20. Vijaywada Bottling Co. Ltd.

21. Willard India Ltd.

Sd/- Sd/-

A.J. Shah Mathradas Samaldas

Secretary President

Dt.: 19-12-78

Page 1 of 7

Tuesday, 19-12-1978

A meeting of the Governing Board of the Stock Exchange was held today at 3.00 PM


members of the Board were present :

Seth Mathradas Samaldas Seth Vasantlal Jivantlal

Seth Phiroze J Jeejeebhoy Seth Bhupendra Champaklal Devidas

Seth Vasantlal Kantilal Shah Seth J.R Motishaw

Seth Laldas Jamnadas Seth Jayantilal Rangildas Khandwala

Seth Navinchandra Chhaganlal Kampani Seth Jasvantlal Chhotalal

Seth Jayant Amerchand Seth Purshottam Gopiram


Government Nominees

Shri M . L Chawla

The following business was transacted in the meeting :

1. The application dated 10-11-78 of the society for vocational Rehabilitation of

the retarded was considered and it was resolved to give a donation of

Rs.101/- to it.

2. The letter dated 20-11-78 of Smt Pushpaben Kantilal Joshi was considered

and it was resolved that the Provident Fund amount of Rs. 36,130.40 and

the gratuity of Rs. 19,187.50 due to the Late Shri Kantilal J Joshi should be

paid to Smt Puspaben Kantilal Joshi.

3. The letter dated 14-12-78 of Mr. Hamal Sambhaji Ganpat was considered and

it was resolved to permit him to retire from 1-1-79 and pay to him his

accumulated Provident Fund amount of Rs. 14,924.30 and Gratuity of Rs.

11,125/-.

Page 2 of 7

4. The application of our office clerks S/Shri T G Babu and K. Ambujakshau

dated 30-11-78 and 13-12-78 respectively for giving them assistance of the

medical treatment expenses incurred during their sickness were considered

and it was resolved to give each of them help of Rs.81/- from Seth K R P


5. The application for locks of undermentioned staff were considered and it was

resolved to give them loans as mentioned against their names below:

a. Shri Nariman N Dubash Rs. 4,500/-

b. Shri Vijay Narayan Rs. 2,000/-

c. Shri V T Manjrekar Rs. 4,000/-

d. Shri Raghunath Krishnaji Rs. 4,000/-

e. Shri Balkrishna Yashwant Rs. 1,500/-

f. Sweeper Chhangaram Gangaram Rs. 2,500/-

6. The letter dated 13-11-78 of S/Shri Manharlal B Parekh and Dilip Manharlal

Parekh was considered and it was resolved to give them permission to

continue the business of M/s Balubhai T Parekh for one month.

7. The applications for undermentioned partnerships were considered and they

were approved :

Name of the Partnership Firm Names of Partners Date of Partnership

M/s Maganlal T Vora Shri Maganlal Tribhovandas Vora 1-11-78

Shri Harendra Maganlal Vora

M/s Balubhai Tribhovandas Shri Manharlal Balubhai Parekh 13-11-78

Parekh Shri Dilip Manharlal Parekh

Shri Mukesh Manharlal Parekh

Page 3 of 7

8. The letter of the undermentioned members were read and it was resolved to

approve the permission given for doing business as Representative Members

as mentioned below :


Shri Satyanarayan Mangilal Khaitan Shri Jaikishan Harikishan Bohra

Shri N M Parikh Shri Dilip Kantilal Choksey

9. The letter dated 8-12-78 of Shri Jeram Thakarsi Halai for settling his

expulsion and allowing him to do business as he had made settlement with

his creditors as well as the letter dated 12-11-78 of his Solicitors M/s Nalin

Shah & Co about the same were considered and it was resolved that their

request cannot be acceded to. Besides their attention should be drawn to the

Board’s resolution dated 10-9-78 about which they were informed on the

same date by letter.

10. The letter dated 21-12-78 of Shri Jeram Thakarsi Halai for filling his

application in the Board in connection with the amount of about Rs. 550/- on

account of difference in rates of 100 Dunlop Shares against M/s Jamnadas

Virji and Sons and the amount of Rs. 62.50 on account of call on 25 Agro

Farm Shares against Shri Pankaj I. Kapadia was considered and it was

resolved to inform him in writing that his request cannot be acceded to under

the Stock Exchange Rules and Regulations.

11. Holidays of our Association for the year 1979 were fixed.


Kakalbhai Dasadia nominating Shri Gandhi Ramanlal Manilal as a member of

the Exchange in the place of the late Shri Kantilal Kakalbhai Dasadia was

considered and after interviewing Shri Gandhi Ramanlal Manilal and his

recommenders S/Shri Dhanesh T Gandhi and Manubhai Maneklal it was

resolved by 13 votes in favour and none against to elect Shri Gandhi

Ramanlal Manilal as a member of the Exchange in the place of the late Shri

Kantilal Kakalbhai subject to the Rules and Regulations of the Exchange.

Page 4 of 7

13. The application dated 12-10-78 of Shri Pravin Mangaldas Choksey nominating

Shri Nalin Pravin Choksey as a member of the Exchange in his own place was

considered and after interviewing Shri Nalin Pravin Choksey and his

recommenders S/Shri Champaklal Babubhai Marfatia and J. M Dalal , it was

resolved by 13 votes and none against to elect Shri Nalin Pravin Choksey as a

member of the Exchange in the place of Shri Pravin Mangaldas Choksey,

subject to the Rules and Regulations of the Exchange on condition that he

should not do business in the market in his own name for a period of two

years and even thereafter he should not do business in his own name without

obtaining the permission of the Governing Board.

14. The application dated 24-10-78 of Shri Minoo Navroji Gandhi nominating Shri

Vinay Chauhan Maganlal Shah as a member of the Exchange in his own place

was considered and after interviewing Shri Vinay Chandra Maganlal Shah and

his recommenders S/Shri Hiralal Chunilal and Priyakant N Dalal it was

resolved by 13 votes in favour and none against to elect Shri Vinay Chandra

Maganlal Shah as a member of the Exchange in the place of Shri Minoo

Navroji Gandhi, subject to the Rules and Regulations of the Exchange on

condition that he should not do business in the market in his own name for

two years.

15. The application dated 17-10-78 of Shri Ishwarlal Chunilal Parekh nominating

Shri Jagdishchandra Laxmidas Shah as a member of the Exchange in his own

place was considered and after interviewing Shri Jagdishchandra Laxmidas

Shah and his recommenders S/Shri Babubhai Fulchand Jhavei and Dhavesh T

Gandhi it was resolved by 13 votes in favour and none against to elect Shri

Jagdishchandra Laxmidas Shah as a member of the Exchange in the place of

Shri Ishwarlal Chunilal Parekh, subject to the Rules and Regulations of the

Exchange.

16. The applications dated 6-11-78 of the near relatives of the late Shri B.V.

Advani nominating Shri Niranjan Ranchhoddas Shah as a member of the

Exchange in the place of the late Shri B V Advani was considered and after

interviewing Shri Niranjan Ranchhoddas Shah and his recommenders S/Shri

Page 5 of 7

Hasmukh Nanalal Jhaveri and Manubhai Maneklal it was resolved by 13 votes

in favour and none against to elect Shri Niranjan Ranchhoddas Shah as a

member of the Exchange in the place of the late Shri B V Advani , subject to

the Rules and Regulations of the Exchange.


Manmohandas Kashavdas, nominating Shri Tribhovandas Keshavdas as a

member of the Exchange in the place of late Shri Manmohandas Keshavdas

was considered and after interviewing Shri Tribhovandas Keshavdas and his

recommenders S/Shri Manharlal Laxmidas and Nagindas Pranjivandas, it was

resolved by 13 votes in favour and none against to elect Shri Tribhovandas

Keshavdas as a member of the Exchange in the place of the late Shri

Manmohandas Keshavdas, subject to the Rules and Regulations of the

Exchange.

18. The application dated 1-12-78 of Shri Shantichand Nanubhai Jhaveri

nominating Shri Rajnikant Nanubhai Jhaveri as a member of the Exchange in

his own place was considered and after interviewing Shri Rajnikant

Shantichand Jhaveri and his recommenders S/Shri A. R. Jhaveri and Rasiklal

Manilal Shah it was resolved by 13 votes in favour and none against to elect

Shri Rajnikant Shantichand Jhaveri as a member of the Exchange in the place

of Shri Shantichand Nanubhai Jhaveri, subject to the Rules and Regulations of

the Exchange.

19. Resolved that Ceramic Kent Tiles should be fitted on the outside of our new

building and Mosaic Tiles should be used for the flooring and the necessary

arrangements should be made for that work.

20. Resolved that after deducting the current year’s expenses from the current

year’s income of the Stock Exchange Education and Research Services, the

estimated remaining excess amount should be donated to Nehru Centre which

has been approved under Section No 35 (1) (2) of the Income Tax Act for

Scientific Research. And if possible, approximately the same amount should

be donated to it next year also.

Page 6 of 7

21. The letter dated 7-12-78 of Willard India Ltd was read and it was unanimously

resolved that as the company has paid up the Annual Listing Fee for the year

1978, its Equity and Preference Shares should be again admitted to our Non

Cleared Securities List and transactions in those Shares should be done lots of

50 shares and 5 shares respectively.


and it was resolved that subject to the Listing Rules and Regulations as well

as compliance with the usual requirements and such other special

requirements stipulated by us, according to the conditions as may be deemed

proper by the Chairman, their securities should be included in the list of Non

Cleared Securities and their trading lots should be fixed by the chairman.

Parekh Distributors Ltd Equity

Hindustan Development Corporation Ltd Equity

Molins of India Ltd Equity

Colgate Palmolive (India) Ltd Equity

Reliance Chemotax Industries Ltd Equity

Lipton Tea (India) Ltd Equity

Tirupati Woollen Mills Ltd Equity

Usha Oil Udayog Ltd Equity

Mangalam Cement Ltd Equity

23. The letters dated 1-12-78 and 2-12-78 respectively of the Southern Borax Ltd

and Bharat Nidhi Ltd were considered and it was unanimously resolved to

remove their securities from our list of securities traded on the Exchange as

the companies do not wish to continue listing.

24. The letter dated 16-12-78 of the Thane Electric Supply Co Ltd was read and it

was unanimously resolved that its ‘A’ and ‘C’ class Debentures should be

removed from our list of Securities traded on the Exchange as the said

Debentures have been redeemed.

Page 7 of 7

25. The letter dated 4-11-78 of Shree Gopal Industries was read and it was

unanimously resolved to remove its shares from our list of securities traded

on the Exchange as the Company has been merged with Maharaja Shree

Umaid Mills Ltd.

26. Resolved that Rs. 1,30,000/- should be donated to the Stock Exchange

Foundation for Social Science Research

Sd/- Sd/-


Secretary President

Dt 18-1-79

Page 1 of 7

Thursday, 18-1-79


p.m. under the Chairmanship of Seth Mathradas Samaldas wherein the under





Seth Vasantlal Kantilal Shah Seth Ashok kumar Girdharilal Fozdar


Seth Navinchandra Chhaganlal Kampani Seth Purshottam Gopiram Ruiya

Seth Jayant Amerchand Seth Chhotalal Devchand Parikh

Shri L. R. Manjal of Government of India, Ministry of Finance, Stock Exchange

Division, was present by invitation


1 The application dated 4-1-79 of the Bombay Deaf and Dumb Institution was


2 The application dated 16-1-79 of our typist Shri B. L. Desai for giving his

assistance towards the expenses of Rs. 879/30 incurred by in connection with

the operator of Harnia was considered and it was resolved to give him

assistance of Rs. 875/- in that respect from Seth K.R.P. Stock Exchange

Saruvajanik Fund.

3 The application of our liftman Sitaram Vitthal to give him assistance towards

the expenses of Rs. 601/45 incurred by him for treatment of arthritis of joints

was considered and it was resolved to give him, assistance of Rs. 600/- in that

respect from K.R.P. Shroff Stock Exchange Sarvajanik Fund.

4 Due to the demise of Shri Chinubhai C. Dalal on 13-12-78 his partnership in

the firm of M/s. Chimanlal J. Dalal & Co. has ceased from that date, as

informed by the letter date 19-12-78 of the remaining partners of the firm.

The Board perused the said letter and noted it.

Page 2 of 7

5 Due to the demise of Shri Chandrakant Jagabhai has partnership in the firm

M/s. Amratlal Mohanlal has ceased, from 22-12-78 as informed by the letter

dated 4-1-79 of the remaining partners which was noted by the Board.

6 The letter dated 24-12-78 of S/Shri Indravadan Ranchhoddas Shah, Narayan

Ranchhoddas Shah and Dhanvant Indravadan Shah was considered and it was

resolved that their partnership under the firm of M/s. Ranchhoddas

Sheshkaram should be approved with the effect from 1-1-1979.

7 The letter dated 13-12-78 of S/Shri V. K. Nanavati and M. S. Barwadia were

read and it was resolved that the permission given to Shri S. M. Barwadia to

do business as a Representative Member of Shri V. K. Nanavati should be

approved.


Satyanarayan Bhuramal nominating Shri Akheraj Narayandas Nangal as a

member of the Exchange in the place of the late Shri Satyanarayan Bhuramal

was considered and after interviewing Shri Akheraj Narayandas Nangal and his

recommenders S/Shri B. R. Dharnidharka and P. R. Shah it was resolved by 13

votes in favour and none against to elect Shri Akheraj Narayandas Nangal as a

member of the Exchange in the place of the late Shri Satyanarayan Bhuramal,

subject to the Rules and Regulation of the Exchange.

9 The Board considered the tenders for the Fire Alarm System of our new

building of M/s. Kunerji Deusl – F-7 Detectors - Rs. 8,82,075/-, F-5 Detectors

- Rs. 9,01,625/- and of Nitin Detectors – Rs. 7,37,110/- , Mother and Plant F-

7 Detectors – Rs. 8,04,150/-, and Niru Detectors – Rs. 8,27,950/-, Southern

Electronics Rs. Rs. 8,72,400/- and of Vijay Machinery Co. – Rs. 7,47,900/- and

resolved to accept the tender of Rs. 7,37,11/-.

10 RESOLVED THAT pursuant to the resolution passed at the general meeting of

the members of The Stock Exchange held on 18th of November, 1978, the

Exchange do borrow a sum of Rs. 2,45,00,000/-(Rs. Two Crores Forty Five

Lakhs only) for purpose of development and construction of the Stock

Exchange new building at the junction of Dalal Street, Apollo Street and

Hamam Street and do create a mortgage favour of Bank of Baroda

(hereinafter referred to as ‘the bank’) on all the immovable properties of the

Exchange situate at the junction of Dalal Street, Apllo Street and Hamam

Page 3 of 7

Street together with the existing building, the building under construction and

building to be hereafter constructed to secure the aforesaid loan of Rs.

2,45,00,000/- (Two Crores Forty Five Lakhs Only) and interest theron art the

rate of 14% p.a. and all other moneys payable in respect thereof ranking pari

passu with the mortgage created or to be crated in favour of other parties

SUBJECT HOWEVER TO.

(i) the prior charge in respect of the 8% Debenture Stock, 1981-86,

created and issued by the Exchange for the principal sum of Rs.

2 Crores, the term and condition of issue of which Debenture

Stock are set forth in the trust deed dated the 16th day of June,

1972, together with interest and all other money payable as well

as any renewal with or without modification in respect thereof

and subsequent charge in favour of Central Bank of India and/or

other parties securing a sum not exceeding Rs. 75 lakhs in the

aggregate advanced by them to the Exchange together with

interest and all other moneys payable in respect thereof;

(ii) the proviso that the amount advanced by Central Bank of India

and / or other parties as aforesaid and outstanding at any given

time together with the amount secured under mortgage as

aforesaid for the benefit of the Bank and under mortgage of

mortgages in favour of other lenders at any given time shall not

exceed Rs. 5 Crores in the aggregate; and

(iii) the right of of the Exchange to demolish the temporary

structures and the Applo Street building and the right to lease

premises in the said new building under construction for a period

upto 20 years.

FURTHER RESOLVED THAT the Exchange do execute an Unattested loan

Agreement with the Bank in respect of the said sum of Rs. 2,45,00,000/-

(Rupees Two Crores forty Five Lakhs only) on condition that same be repaid by

the Exchange within a period of 10 years by fixed equal quarterly instalments

of principal and interest @ 14% p.a. on the average of the reducing balance of

the principal amount, the the fixed equal quarterly installment for on advance

of Rs. 1,00,000/- (Rupees One Lakh only) being Rs. 4,264/70 ( Rupees Four

Page 4 of 7

thousand two hundred sixty four paise seventy only) i.e. Rs. 2,500/- towards

principal nad Rs. 1,764/70 towards interest.

FURTHER RESOLVES THAT the Exchange along with the trustees of the Stock

Exchange to execute in favour of the Bank an irrevocable Power of Attorney

authorizing the Bank to create such mortgage on behalf of the Exchange and

the Stock Exchange Trustees and also to do and execute such other deeds

documents and writing as the Bank may requires from time to time.

FURTHER RESOLVED THAT the said Unattested loan agreement and the said

irrevocable Power of Attorney (the draft of which are placed before this

meeting of the Governing Board and initialed by the President for

Identification) and all other necessary documents required for the purposes

aforesaid be signed on behalf of the Stock Exchange by Shri Mathradas

Samaldas, the President, of the Stock Exchange and of its Governing Board,

and Shri Jivanchand Ratanchand Motishaw, Shri Rasiklal Maneklal, Shri

Dhirajlal Maganlal and Shri Jayant Amerchand, the Trustees of the Exchange.

LASTLY RESOLVED THAT for the purpose aforesaid the Trustees of the

Exchange be requested to do all such acts, deeds, matters and things and

execute such deeds, documents, agreements and writing as maybe necessary

in that behalf.

11 RESOLVED THAT pursuant to the resolution passed at the General Meeting of

the Members of the Stock Exchange held on the 18th of November, 1978, the

Exchange do give on lease to Bank of Baroda (hereinafter referred to as ‘the

Bank’) the herein below mentioned in the Stock Exchange new building now

under construction namely; (a) portion of the ground floor (East) abutting on

Dalal Street together with the mezzanine floor admeasuring 650sq. meters

(i.e. 7,000 sq. ft.) of thereabouts together with a contiguous portion

admeasuring 465 sq. meters (i.e. 5,000 sq. ft.)or thereabouts as and when the

same is ready in lieu whereof and till it is ready would be substituted a porting

of the first floor (east) abutting on Dalal Street admeasuring 465 sq. meters

(i.e. 5,000 sq. ft. ) or thereabouts: (b) First to sixth floors above the

intermediate services floor in the tower block each admeasuring 790 sq.

meters (i.e. 8,500 sq. ft. or thereabouts with option to Exchange and if the

Bank so desires, to substitute in lieu of the said sixth floor a portion of the

ground floor abutting on Hamam Street together with the mezzanine floor

Page 5 of 7

admeasuring 650 to 750 sq. meters (ie. 7,000 to 8,000 sq. ft.) or thereabouts

as and when the same is ready: (c.) safe deposit vault in the first basement

(east) asmeasuring 93 sq. meters (i.e. 1,000 sq.ft.) or thereabouts for a term

of ten years certain with option to the Bank to renew the lease for a further

term of five years at the monthly rent of Rs. 3.25, Rs. 2.20 and Rs. 1.80 per

0.0929 sq. meter (i.e. per sq. ft.) for (a) above, for the tower floors at (b)

above and for (c.) above respectively and on the term and conditions set out in

the Agreement for lease with the Draft Deed of Lease annexed thereto.

FURTHER RESOLVED THAT the said Agreement for lease with the Draft Deed of

lease annexed thereto (the draft of which is placed before this meeting of the

Governing Board and initialed by the President for identification) and all other

necessary documents required for the purposes aforesaid be signed on behalf

of the Stock Exchange by Shri Mathradas Samaldas, the President of the

Exchange and of its Governing Board, and by shri Jivanchand Ratanchand

Motishaw, Shri Rasiklal Maneklal, Shri Dhirajlal Maganlal and Shri Jayant

Amerchand, the Trustees of the Exchange.

LASTLY RESOLVED THAT for the purposes aforesaid the Trustees of the

Exchange be requested to do all such acts, deeds, matters and things and

execute such deeds, documents, agreements and writing as may be necessary

in that behalf.

12 RESOLVED THAT pursuant to the resolution passed at the general meeting of

the members of The Stock Exchange held on the 18th of November, 1978, the

Exchange do provide and / or supply and / or cause to be provide and / or

supplied to Bank of Baroda (hereafter referred to us ‘the Bank’) amenities,

services and facilities in respect of the premises in the Stock Exchange new

building now under construction agreed to be taken on lease by the Bank for

the period co-extensive and co-terminus with the period of the lease or any

renewal thereof at the following rates respectively for the ground (including

mezzanine) and first floors, for the towers floors and for safe deposit vault in

the first basement, namely, (a)Rs. 2.10, Re. 1.75, and Re. 1.75 per 0.0929 sq.

meter (i.e. per sq. ft.) for air-conditioning service, (b) Rs. 2.20, Rs. 2.20 and

Re. 1.80 per 0.929 sq. meter (i.e. per sq. ft.) for other special amenities and

services , and (c.) Re. 1.50, Re. 1.50 and Re. 0.70 per 0.929 sq. meter (i.e.

per sq. ft.) for other services and facilities on the terms and conditions set out

Page 6 of 7

in the Agreement for Over-all Special Amenities, Services and Facilities and the

Draft Deed annexed thereto.

FURTHER RESOLVE THAT the said agreement for Over-all Special Amenities,

Services and Facilities together with Draft Deed annexed thereto (the Draft of

which is placed before this meeting of the Governing Board and initialed by the

President for identification) and all other necessary documents required for the

perpose aforesaid be signed on behalf of the Stock Exchange by Shri

Mathradas Samaldas, the President of the Exchange, and of its Governing

Board and by Shrii Jivanchand Ratanlal Morishaw, Shri Rasiklal Maneklal, Shri

Dhirajlal Maganlal and Shri Jayant Amerchand the Trustees of the Exchange.

LASTLY RESOLVED THAT for the purposes aforesaid the Trustees of the

Exchange be requested to do all acts, deeds, matters and things and execute

such deeds, documents, agreements and writing as may be necessary in that

behalf.

13 Resolved that Shri Mathradas Samaldas, the President of the Exchange and of

its Governing Board, do sign on behalf of the Stock Exchange and its

Governing Board along with Shri Jivchand Ratanchand Motishaw, Shri Rasiklal

Maneklal, Shri Dhirajlal Maganlal, and Shri Jayant Amerchand, the Trustees of

the Exchange, who may be requested to do so, a letter addressed to Bank of

Baroda recording certain terms in respect of the loan Agreement for lease and

Agreement for Over-all Special Amenities, Services and Facilities with the Bank

as per letter the draft of which is placed before this meeting of the Governing

Board and initialed by the President for identification.

14 RESOLED THAT a Current Account be opened with Bank of Baroda, Fort,

Bombay in the name of the Stock Exchange, Bombay, and that the said

Account be operated jointly by the President, Shri Mathradas Samaldas, or the

Chairman Shri P. J. Jeejeebhoy, or the Vice-President, Shri Vasantlal

Champaklal, or the Hon. Treasurer, Shri Navinchandra Chhaganlal Kampani

and by any one of the following six Members of the Governing Board, namely

Shri J. R. Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand, Shri

Vasantlal Kantilal Shah, Shri Jasvant Chhotalal, and Shri. A.R. Mahadevia and

be countersigned by the Secretary, Shri A. J. Shah, and in his absence by Shri

S. N. Karaka or Shri. M. D. Vyas.

Page 7 of 7

15 The appeal of M/s. Keshavdas Pranjivandas against the awards of the Full

Bench of the Arbitrator Committee in their dispute with M/s. Jamnadas Virjee &

Sons regarding 3,300 Bishnath Tea Shares was heard. After hearing both the

parties it was resolved to uphold the award of the Full Bench of the Arbitration

Committee.

16 The Listing applications of the undermentioned companies were considered


Regulations, as well as compliance with the usual requirement and such other

special requirement stipulated by us and the conditions as may be deemed

proper by the Chairman, their under mentioned securities should be included

in our list of cleared securities and their trading lots should be fixed by the

Chairman

Transpack Industries Ltd. Equity

Assam Co. (India) Ltd. Equity

Naran Tea Co. (India) Ltd. Equity

The Atlas Cycle Industries Ltd. Equity

Sehgal Papers Ltd. Equity

Ashok Leyland Ltd. Equity

Economic Development Corporation of Goa, Daman

and Diu Ltd.

6¼% Bonds

(1989)

Sd/- Sd/-


Secretary President

Date: 20-2-79

Page 1 of 5

Tuesday, 20-2-79


3.00 PM under the Chairmanship of Seth Mathradas Samaldas, wherein the

undermentioned members of the Board were present :


Seth Phiroze J Jeejeebhoy Seth Bhupendra Champaklal Devidas

Seth Jasvantlal Chhotalal Seth J.R Motishaw

Seth Vasantlal Kantilal Shah Seth Ashokkumar Girdharlal Fozdar


Seth Jayant Amerchand Seth Purshottam Gopiram Ruia


Government Nominees

Shri J.G.Gogte


1. The application of Badipara Harijan Yuval Mandal dated 14-2-79 was

considered and it was resolved to donate Rs. 101/- to it.

2. The application dated 14-2-79 of Smt. Pushpaben Kantilal Joshi was

considered and it was resolved to give her assistance of Rs.700/- from Seth

K.R.P. Shroff Stock Exchange Sarvajanik Fund.

3. The application dated 17-2-79 of our sepoy Mahadev Ramchandra was

considered and it was resolved to give him assistance of Rs.123.60 from Seth

K.R.P. Shroff Stock Exchange Sarvajanik Fund for medical expenses incurred

by him during his sickness.

Page 2 of 5

4. The applications for loans was considered of our undermentioned office staff

were considered and it was resolved to give them loans as shown below

against their respective names:

Shri M.K. Shivraman Rs. 6,000/-

Shri J.K. Quadros Rs. 3,000/-

Sepoy Govind M. Khatale Rs. 5,000/-

Liftman Tukaram Laxman Rs. 600/-

Sweeper Bhagwan Tiloo Rs. 5,000/-

5. The letter dated 18-1-79 of Shri Tribhovandas Keshavdas for giving him one

month’s more time for complying with the conditions for admission to

membership of the Exchange was considered and it was resolved to give him

one month’s more time for that.

6. The applications for undermentioned partnerships were considered and the

partnerships were approved :

Name of the Partnership Firm Names of Partners Date of Partnership

M/s M.K. Choksey & Co. Shri Ramesh Dhirajlal Choksey 25-1-70

Shri Kisan Ratilal Choksey


Shri Ramesh Ratilal Choksey

Shri Nalin Pravin Choksey

M/s Keshavlal Pranjivandas Shri Tribhuvandas Keshavdas 2-2-70

Shri Deven Tribhuvandas

Shri Pradip Manmohandas

7. The letters of the undermentioned members were read and it was resolved to

approve the permission given for working as Representative Members as

shown below :


M/s Vadilal Rajpal Mehta Shri Devidas Jamnadas

Shri Basudev Rameshwarlal Dharnidharka Shri Akheraj Narayandas Nangal

Page 3 of 5

8. The letter dated 14-2-79 of M/s Hiralal Liladher was considered and it was

resolved to give them work as official brokers and underwriters on condition

that their total underwriting liability for one or more than one issues at any

point of time should not be more than Rs. 50,000/-.

9. As regards the application dated 8-1-79 of the near relatives of the late Shri

Shrilal Podar nominating Shri Madanlal Banwarilal Jhaveri in the palce of the

late Shri Shrilal Podar their letter dated 19-2- 79 withdrawing the aforesaid

application was read and taken note of.

10. The application dated 18-1-79 of Shri Chunilal Keshavji nominating Shri

Bansilal Balubhai Shah as a member of the Exchange in his place was

considered and after interviewing Shri Bansilal Balubhai Shah and his

recommenders S/Shri Jitendra Champaklal and S.J. Palejwalal it was resolved

by 6 votes in favour and 7 votes against that he cannot be admitted as a


11. The application dated 13-1-79 of the near relative of the late Shri

Chandrakant Jugalbhai Sheth nominating Shri Sumanchandra Jugalbhai Sheth

as a member of the Exchange in the place of the late Shri Chandrakant

Jugalbhai Shah was considered and after interviewing Shri Sumanchandra

Jugalbhai Sheth and his recommenders S/Shri Chimanlal Amratlal and

Rajnikant C. Sheth it was resolved by 13 votes in favour and none against to

elect Shri Sumanchandra Jugalbhai Sheth as a member of the Exchange in

the place of the late Shri Chandrakant Jugalbhai Sheth, subject to the Rules

and Regulations of the Exchange.

12. Resolved that Friday, 23-7-79 should be fixed as the day for election of the


13. The Board took noted of the agreements with the Bank of Baroda, with which

our Trustees have also been parties for loan, lease and services in respect of

the space in our new building under construction and resolved that

Page 4 of 5

agreements on the same lines should again be made with the General

Insurance Corporation of India.

14. Resolved that note has been taken of the letter dated 10-8-78 of the Trustees

of our Debenture Stock giving their consent to the arrangements regarding

giving to the Bank of Baroda space in our new building under construction and

the Bank giving loan to the Stock Exchange.

15. The letter dated 3-2-79 of M/s B.E. Bilimoria & Co., to their contract for civil

work in our new building was considered and it was resolved to permit them

to give up the contract as the contracted work was getting diminished

because of using mosaic tiles instead of kota stones for flooring, etc.

16. The letter dated 16-1-79 of Suessen Textile Bearings Ltd., was considered

and it was resolved to change the trading lot of its equity shares and make it

of 25 shares.



Regulations as well as compliance with the usual requirements, other special

requirements stipulated by us and the conditions deemed proper by the

Chairman, their undermentioned securities should be included in our list of

Non-Cleared Securities and their trading lots should be fixed by the

Chairman:

Solid State Devices India Ltd. Equity shares

Elora Paper Mills Ltd. Equity shares

S.B. Properties and Enterprises Ltd. Equity shares

Rang Kala Investments Ltd. Equity shares

Shree Rani Sati Investment and

Finance Ltd.

Equity shares

Spains Worth Balance Ltd. Equity shares and Preference shares.

18. The letters of the undermentioned companies were read and it was

unanimously resolved that their securities should be removed from our list of

Page 5 of 5

securities traded on the Exchange as they do not want to continue their

listing:

South India Sugars Ltd.

Madhya Pradesh Alidyogie Vikas Nigam Ltd.

19. The letter dated 31-1-79 of Gujarat Tractor Corporation Ltd., was read and it

was unanimously resolved to remove the shares of Hindustan Tractors Ltd.,

from the list of securities traded on the Exchanges as that company has been

merged with the Gujarat Tractor Corporation Ltd.

20. Unanimously resolved that the undermentioned securities should be removed

from the list of securities traded on the Exchange as they have been

redeemend:

Aryodaya Mills Ltd. Preference Shares

Padamji Pulp & Paper Mills Ltd. 9.5% of preference shares

Sd/- Sd/-

A J Shah J.R. Motishaw

Secretary President

Dt:

Page 1 of 10

Tuesday, 8-5-79

A meeting of the Governing Board of the Stock Exchange was held today at Stock

Exchange 3.00 PM under the Chairmanship of Seth J.R. Motishaw in the beginning

and subsequently under the Chairmanship of Shri Mathradas Samaldas wherein the



Seth Phiroze J Jeejeebhoy Seth J.R Motishaw

Seth Vasantlal Champaklal Seth A. R.Mahadevia

Seth Jasvantlal Chhotalal Seth Ashokkumar Girdharlal Fozdar




Government Nominees

Shri M.R. Mayya

Shri M.L. Chawla

Shri J.G.Gogte


1. Proposed by Seth Jayant Amerchand and supported by Seth Purshottam

Gopiram Ruiya, Shri J. R. Motishaw was unanimously elected as the Chairman

of today’s meeting.

2. Proposed by Seth J.R. Motishaw and supported by Seth Jayant Amerchand it

was unanimously resolved to elect Seth Mathradas Samaldas as the

President.

Seth J.R. Motishaw handed over the Chairman’s seat to Seth Mathradas

Samaldas.

Seth Mathradas Samaldas thanked for the trust reposed in him by all the

members of the Governing Board and while expressing his sense of gratitude

Page 2 of 10

for the support and co-operation given to him last year by all the members of

the Governing Board and Government nominees expressed hope that they

would continue to give their support and co-operation likewise during the

current year also.

3. Proposed by Seth Rasiklal Maneklal and supported by Seth Jayant Amerchand

it was unanimously resolved to elect Shri Vasantlal Champaklal as the Vice-

President.

4. Proposed by Seth A.R. Mahadevia and supported by Seth Vasantlal Kantilal it

was unanimously resolved to elect Seth Navinchandra Chhaganlal Kampani as

the Hon. Treasurer.

5. Resolved that the undermentioned persons be nominated as members of the


Shri Keki N. Chinoy Shri V.K. Nanavati

Shri Jayantilal M. Dalal Shri Jayendra D. Mehta


Shri D.V. Shukla Shri Govindbhai B. Desai

Shri Hariam Dwarkadas Shri Jitendra Champaklal Mashruwala

Shri Bhagubhai Amthalal Gandhi Shri Ramdas Lallubhai

Shri S.M. Shah Shri Shirish Chimanlal Dave

Shri Nagindas Trambaklal Parekh Shri Kirtilal K. Shah

6. Resolved that the undermentioned persons should be nominated as members

of the Defaulter Committee for the year 1979-80:

Shri Jayant Amerchand Shri Jayantilal Mansukhlal Dalal

Shri Vasantlal Kantilal Shah Shri Rasiklal S. Jhaveri


Page 3 of 10

7. Resolved that Sir Shapoorji Broadia Brokers’ Helping Fund Committee should

be constituted of S/Shri J.R. Motishaw, Mathradas Samaldas, Vasantlal

Champaklal and Dhirajlal Maganlal.

8. Resolved that the Building Committee should be nominated consisting of

S/Shri Mathradas Samaldas, Vasantlal Champaklal Mashruwala, J.R.

Motishaw, Jayant Amerchand, Rasiklal Maneklal, Vasantlal Kantilal Shah and

Jasvantlal Chhotalal.

9. “Resolved that cheques be signed by the President, Shri Mathradas Samaldas,

or the Chairman, Shri P.J. Jeejeebhoy, or the Vice-President, Shri Vasantlal

Champaklal, or the Hon. Treasurer, Shri Navinchandra Chhaganlal Kampani

and any one of the following Six Members of the Governing Board namely,

Shri J.R.Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand, Shri

Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A.R.Mahadevia,

and be countersigned by the Secretary Shri A.J.Shah, and in his absence by

Shri S.N.Karaka or Shri M.D.Vyas.”

10. “Resolved that the various Accounts and Safe custody Accounts of the

Exchange with Bank of India be operated on jointly by the President, Shri

Mathradas Samaldas, or the Chairman, Shri P.J. Jeejeebhoy or the Vice-

President, Shri Vasantlal Champaklal, or the Hon. Treasurer, Shri

Navinchandra Chhaganlal Kampani and by any one of the following six

members of the Governing Board, namely, Shri J.R.Motishaw, Shri Rasiklal

Maneklal, Shri Jasvantlal Chhotalal and Shri A.R.Mahadevia and be and

countersigned by the Secretary,Shri A. J. Shah and in his absence by Shri

S.N.Karaka or Shri M.D.Vyas.”

11. “Resolved that the Current Accounts and the safe Custody Accounts with Bank

of India in the name of the Stock Exchange staff Provident Fund and the

Stock Exchange Staff Gratuity Fund be operated on either by any two of the

Trustees of the Exchange for the time being or the survivors or survivor of

them or jointly by the Hon. Treasurer, Shri Navinchandra Chhaganlal

Kampani, and any one of the following six members of the Governing Board,

Page 4 of 10

namely, Shri J.R.Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand,

Shri Vasantlal Kantilal Shah, Shri Jasvantlal Chhotalal and Shri A.R.Mahadevia

and be countersigned by the Secretary, Shri A.J.Shah and in his absence by

Shri S.N.Karaka or Shri M.D.Vyas.”

12. The President referred to the Board Resolution dated 24th October, 1978 and

reported that Bank of India(hereinafter referred to as “the Bank”) had at the

request of the Stock Exchange agreed to continue to grant to the Stock

Exchange demand loan facilities upto a limit of Rs. 10,50,000/- on terms,

Limit: Rs. 10,50,000/-

Term: Demand – without prejudice to the demand

nature of the loan, it is to be repaid by

annual instalments of Rs. 3.50 lakhs each

commencing from 26.7.1977.

Rate of Interest: 6% over Bank Rate Minimum 15% per

annum with quarterly rests.

Security: 1. Demand Promissory Notes by the Stock

Exchange, Bombay, in favour of the

Bank;


3. Letter of Lien and Set-off;

4. Agreement of hypothecation in respect

of the Electronic Computer and other

accessories thereof along with a

supplement deed of hypothecation;

5. Letter of Confirmation form L.444 C

dated 27.10.1978.

Margin: 15%


resolution for continuance of the loan facility, to confirm the debit balance in the

account, the documents executed and the security created in favour of the Bank in

terms of the Form L. 444 C sent by the Bank.

Page 5 of 10


1. THAT the Stock Exchange do continue to borrow from the Bank from time

to time by way of loan facility on terms as aforesaid and repayable on

demand upto a limit of Rs. 10,50,000/- with interest at 6% over bank rate

Minimum 15% per annum with the quarterly rests or such other terms

and at such other rate/s of interest, as may be notified by the Bank to the

Stock Exchange from time to time.

2. THAT the Stock Exchange do confirm and acknowledge the debit balance

in the account, the documents excecuted and security created in favour of

the Bank, in terms of FormL. 444 C sent by the Bank, and that in token of

such confirmation and acknowledgement, the common seal of the Stock

Exchange be affixed to the said Form L. 444 C in presence of and the

same may be signed on behalf of Stock Exchange by Mr Mathradas

Samaldas , President, and Mr. Jivanchand R.Motishaw, Member of the

Governing Board and countersigned by Mr. Amritlal J. Shah, Sceretary of

the Stock Exchange.

3. THAT the said loan account be operated upon and instructions concerning

the same may be given by and any acknowledgments or confirmations of

debt and/or security which may be required by the Bank may be given on

behalf of the Stock Exchange as heretofore.


by the Chairman be furnished to the Bank.

13. “(1) Resolved that the present arrangement with the Bank of Karad, Ltd., for

a cash credit limit of Rs. 8.50 lakh be continued against deposit of 8%

debenture stock 1981-86 of the Stock Exchange as collateral Security.

(2) Also resolved that all necessary documents as may be required by the

Bank be executed on behalf of the Exchange by the President, a member of

the Governing Board and the Secretary and the Seal of the Exchange be

affixed thereon.”

14. The Government letter dated 26-3-79 regarding appointment of Shri A.G.

Sirsi-Regional Director Company Law, Mumbai as a Government nominee on

our Board in the place of Shri R.N. Bansal was read and taken note of.

Page 6 of 10

15. The application dated 19-4-79 of our sepoy Vilas Gyandev to give him

assistance of College fees of both the term of B.A. (Part-1) and the

examination fee was considered and it was resolved to give him assurance of

Rs.409/- from Shri M.C. Mehta Smarak Fund.

16. The letter dated 26-3-79 of our office staff member Shri M.L. Sureman

regarding resignation from his post as he was to go abroad for service and

payment of the Provident Fund amount and Gratuity was considered it was

resolved to approve payment already made to him of the amount of

Rs.15,131.29 accumulated in his provident fund account and a sum of

Rs.9241.50 on account of Gratuity.

17. The letter dated 20-2-79 of our sweeper Khachera Dhureram Tendering

resignation of his post and asking for payment of his Provident Fund and

Gratuity was considered and it was resolved to pay him the amount

accumulated in his Provident Fund and the Gratuity of Rs. 7848/-.

18. The applications of the undermentioned staff of our office for giving them

assistance for the expenses incurred by them for medical treatment during

their sickness were considered and it was resolved to give them assistance

from Seth K.R.P. Shroff Stock Exchange Sarvajanik Fund as shown against

their names:

Sepoy Dataram Govind Rs.200/-

Liftman Tukaram Laxman Rs.120/-

Watchman S.K. Lal Rs. 46.50p


them loans were considered and it was resolved to give them loans as shown

below against their names:

Shri S. Ramakrishnan Rs. 10,000/-

Shri C.V. Valsan Rs. 3,000/-

Sepoy Dataram Govind Rs. 5,000/-

Sepoy Balkrishna S. Shinde Rs. 4,000/-

Sepoy Jairam Bhikaji Rs. 7,000/-

Page 7 of 10

Sepoy Vilas Gyandev Rs. 3,000/-

Liftman Sitaram Vithal Rs. 3,000/-

Bhatt Mithalal Bhuralal Rs. 3,000/-

Sweeper Harcharan Jairam Rs. 3,500/-

Sweeper Tara Mohan Rs. 2,000/-

20. The letter dated 30-4-79 of S/Shri Kisan Raitlal Choksey, Ramesh Ratilal

Choksey, Ramesh Dhirajlal Choksey, Nalin Pravin Choksey and Ashok Ratilal

Choksey regarding dissolution of their partnership with effect from 11-5-79

was read and noted.

21. The letter dated 31-3-79 of S/Shri Tribhovandas Keshavdes, Deven

Tribhovandas and Pradip Manmohandas was read and it was noted that Shri

Pradip Manmohandas had severed his partnership from the firm of M/s

Keshavlal Pranjivandas with effect from 31-3-79.

22. The letter dated 29-3-79 of S/Shri Indravadan Ranchhoddas Shah, Niranjan

Ranchhoddas Shah and Dhimant Ranchhoddas Shah was read and it was

noted that Shri Narayan Ranchhoddas Shah has severed his partnership from

the firm of M/s Ranchoddas Sekhsaran with effect from 31-3-79.

23. The applications for undermentioned partnerships were considered and the

partnerships were approved :

Name of the Partnership Firm Names of Partners Date of

Partnership

M/s Amratlal Mohanlal Shri Chimanlal Amratlal

Shri Sureshchandra J. Sheth

Shri Mridev Chimanlal Javeri

28-2-79

M/s M.K. Choksey & Co. Shri Ramesh Dhirajlal Choksey

Shri Nalin P. Choksey

11-5-79

M/s Kisan Ratilal Choksey Shri Kisan Ratilal Choksey

Shri Ramesh Ratilal Choksey


11-5-79

M/s Shantichand N. Jhaveri Shri Rajnikant Shantilal Jhaveri

Shri Dipchand Shantilal Jhaveri

21-3-79

Page 8 of 10

24. The application dated 12-2-79 of the near relatives of the late Shri Dhirajlal

Harilal nominating Shri Ratilal Nagardas Vora as a member of the Exchange in

the place of the late Shri Dhirajlal Harilal was considered and after

interviewing Shri Ratilal Nagardas Vora and his recommenders S/Shri

Dhansukhlal Kantilal and Manubhai Maneklal it was resolved by 13 votes in

favour and none against to elect Shri Ratilal Nagardas Vora as a member of

the Exchange in the place of the late Shri Dhirajlal Harilal subject to the Rules

and Regulations of the Exchange.

25. The application dated 22-2- 79 of Shri Dilipkumar Jivanlal nominating Shri

Madan Gopal Chandmal Damani as a member of the Exchgange in his own

place was considered and after interviewing Shri Madan Gopal Chandmal

Damani and his recommenders S/Shri B.R. Dharnidharka and R.M. Thanvi it

was resolved by 12 votes in favour and 1 against to elect Shri Madan Gopal

Chandmal Damani in the place of Shri Dilipkumar Jivanlal subject to the Rules

and Regulations of the Exchange on the condition that for 2 years he should

not do business in the market in his own name.

26. The application of Shri Chimanlal Kehavji dated 15-3-79 nominating Shri

Rajababu Bhagubhai Gandhi as a member of the Exchange in his own place

was considered and after interviewing Shri Rajababu Bhagubhai Gandhi and

his recommenders S/Shri Pravin Hiralal Nanavati and Dhirajlal N. Shah it was

resolved by 12 votes in favour and one against to elect Shri Rajababu

Bhagubhai Gandhi as a member of the Exchange in the place of Shri Chunilal

Keshavdas subject to the Rules and Regulations of the Exchange.

27. The letter of Shri Tikamdas H. Idnani and Narottam B. Javeri dated 4-4-79

and 6-4-79 respectively were read and it was resolved to approve the

permission given to Shri Tikamdas H. Idnani to do business as a

Representative Member of Shri Narottam B. Jhaveri.

28. As the undermentioned companies have paid the arrears of the listing fee

payable by them, it was unanimously resolved that the undermentioned

securities should be re-admitted to our list of Non-Cleared Securities and

Page 9 of 10

trading lots of those securities should be fixed as shown against their names

below:

Asian Dehydrates Ltd. Equity 50 shares.

Jugilal Kamalapet Cotton Spg., &

Weaving Mills Co. Ltd. Equity 100 shares.


Weaving Mills Co. Ltd. 6% Preference & 5 shares


Weaving Mills Co. Ltd. 5% Preference & 5 shares


Weaving Mills Co. Ltd. 101/2 Preference & 5 shares.




special requirements stipulated by us as may be deemed proper by the

Chairman, the belowmentioned securities should be admitted to our list of

Non-Cleared Securities traded on the Exchange and the Chairman should fix

their trading lots:

Tulel Investments of India Ltd. Equity shares

Tulel Investments of India Ltd. Debentures

Steel Strips Ltd. Equity shares

Avati Leathers Ltd. Equity shares

C.W.S. (India) Ltd. Equity shares

Assam Frontier Tea Ltd. Equity shares

Cynamid India Ltd. Equity shares

Raj-Prakash Chemicals Ltd. Equity shares

Gate-way Chemicals Ltd. Equity shares

30. As Deccan Wires Ltd., has been merged with Panyam Cements Ltd., and Coal

Mills Ltd., has been merged with Swan Mills Ltd., it was unanimously resolved

to remove the securities of Deccan Wires Ltd., and Coal Mills Ltd., from our

list of Non-Cleared Securities traded on the Exchange.

Page 10 of 10

31. As the 9.5% Preference Shares of Andhra Pradesh Paper Mills Ltd., have been

redeemed it was unanimously resolved to remove the said preference shares


Sd/- Sd/-


Secretary President

Dt 17-7-79

Page 1 of 5

Tuesday, 17-7-79

A meeting of the Governing Board of the Stock Exchange was held today at Stock

Exchange at 3.00 PM under the Chairmanship of Shri Mathradas Samaldas wherein

the undermentioned members of the Board were present :

Seth Mathradas Samaldas Seth Rasiklal Maneklal

Seth Phiroze J Jeejeebhoy Seth Vasantlal Jivantlal

Seth Vasantlal Champaklal Seth Bhupendra Champaklal

Seth Jasvantlal Chhotalal Seth Ashokkumar Devidas Fozdar


Seth Navinchandra Chhaganlal Kampani Seth Purshottam Gopiram Ruiya


Government Nominees

Shri M.R. Mayya

Shri M.L. Chawla

Shri A.G.Sirsi

Shri J.G.Gogte


1. The application dated 15-5-79 of the Poona Home and School for the Blind

was considered and it was resolved to give it a donation of Rs. 101/-

2. The application of the undermentioned organizations were considered and it

was resolved to give donations mentioned against their names:

National Society for Equal Opportunities

for the Handicapped

Rs. 1,001/-

The Stock Echange Badgeholders

Mnedical Relief centre Dispensary

Rs. 5,001/-

3. Our former Sepoy Arjun Tukaram Kamble’s application dated 4-7-79 was

considered and it was resolved to pay him the Provident Fund amount of Rs

444/-.

Page 2 of 5


approve the permission given to do business as Representative members as

shown below:

Name of the Nominating Members

Name of the Representative Member

Shri Kantilal Jivantlal Vakharia Shri Amerchand Lallubhai Sukhadia

Shri Bhagubhai A Gandhi Shri Rajababu Bhagubhai Gandhi

M/s R.J. Shah & Co. Shri Trikamdas H. Idnani

5. The letter dated 31-3-79 of Shri Trikamdas H. Idnani was considered and it

was resolved to give him permission to do business in the market in his own

name.

6. The latter dated 15-6-79 of Shri Keshavlal Dhanji asking for permission to do

business in the market in his own name was considered and it was resolved

that the request cannot be acceded to

7. The letter dated 14-5-79 of S/Shri Nagardas Ravji, Bhanuchandra Nagardas

and Umesh Nagardas was considered and it was resolved to approve their

partnership under the firm name of M/s Nagardas Ravji with effect from 1-4-

79.

8. The application dated 31-5-79 of the near relatives of the late Shri Chinubhai

C Dalal nominating Shri Ashwin Chinubhai Dalal as a member of the Exchange

in the place of late Shri Chinubahi C Dalal was considered and after

interviewing Shri Ashwin Chinubhai Dalal and his recommender Shri Sevantilal

Kantilal it was resolved by 13 votes in favour and none against to elect Shri

Ashwin Chinubhai Dalal as a member of the Exchange in place of the late Shri

Chinubhai C Dalal subject to the Rules and Regulations of the Exchange.

9. The Application dated 7-6-79 of Shri Umesh Laxman Bhat nominating Shri

Krishnalal Harivallabh Parekh as a member of the Exchange in his own place

was considered and after interviewing Shri Krishnalal Harivallabh Parekh and

his recommenders S/Shri Naresh N Khandwala and Navnitlal Ambalal it was

Page 3 of 5

resolved by 13 votes in favour and none against to elect Shri Krishnalal

Harivallabh Parekh as a member of the Exchange in the place of Shri Umesh

Laxman subject to the Rules and Regulations of the Exchange.

10. The application dated 27-4-79 of Shri Shantilal Vallabhdas Sangani

nominating Shri Shripal Jain as a member of the Exchange in his own place

was considered and after interviewing Shri Shripal Jain and his

recommenders/Shri Kailas Narayan Parasrampuria and P.R.Shah, it was

resolved by 4 votes in favour and 9 against that Shri Shripal Jain cannot be

admitted as a member of the Exchange.

11. The application of Shri Ramniklal L Shah dated 14-5-79 nominating Shri

Navinchandra Varajdas Dalal as a member of the Exchange in his own place

considered and after interviewing Shri Navinchandra Varajdas Dalal and his

recommenders S/Shri Pankaj Ishwarlal Kapadia and Jitendra Champklal it was

resolved by 13 votes in favour and none against to elect Shri Navinchandra

Varajdas Dalal as a member of the Exchange in the place of Shri Ramniklal L

Shah, subject to the Rules and Regulations of the Exchange

12. The letter dated 30-4-79 of the Reserve Bank of India about permitting

delivery of Government Securities in lots larger than Rs. 25,000/- was read

and it was resolved to discuss the matter with the Reserve Bank

13. The Board considered the Government letter dated 8-3-79 relating to the

letter 22-1-79 of Shri Ratanlal Damani suggesting that Rules 8(3)(9) and

8(3)(d) of the Securities Contarcts (Regulation) Rules 1957 should be suitably

amended for permitting an individual to become a member of more than one

Stock exchange. It was resolved to write to the Government that we are not

in favour of that suggestion.

14. The letter dated 29-6-79 of Ipco Paper Mills Ltd. was considered and it was

resolved that as the Company has paid the Annual Listing for the years 1978

and 1979 its equity shares should be again replaced in our list of Non-Cleared

Securities and transaction in those shares should be made in lots of 50 shares

Page 4 of 5




special requirement stipulated on such condition as may be deemed proper by

the Chairman the below-mentioned securities should be placed in our list of

Non-Cleared Securities traded on the Exchange and thus trading lots should

be fixed by the chairman.

Ramington Rand of India Ltd Equity Shares

Free India Ltd Equity Shares

Cloride (India) Ltd Equity Shares

Roplars (India) Ltd Equity Shares

International Instruments Ltd Equity Shares

Bomaby Tyre International Ltd Equity Shares

Mother & Platt (India) Ltd Equity Shares

Scottish Assam(India) Ltd Equity Shares

Pirramal Rasayan Ltd Equity Shares

The India Seamless Metal Tubes Ltd Equity Shares

Goodric Group Ltd Equity Shares

India Radiators Ltd Equity Shares

Dharuhera Chemicals Ltd Equity Shares

Dharuhera Chemicals Ltd Preference Shares

The Indo Asahi Glass Ltd Equity Shares

George Williamson (Assam) Ltd Equity Shares

Precision Jewels Ltd. Equity Shares

The Industrial Credit and Investment

Corporation of India Ltd

6 ¾ % Bonds (1999)

16. Unanimously resolved that the undermentioned Securities should be removed

from our list of Securities traded on the Exchange as they have been

redeemed:

Bombay Suburban Electric Supply Ltd 10.5% ‘C’ Class Debentures

7.75% ‘D’ Class Debenture

The Sathe Biscuit and Chocolate Co Ltd 9.1% Preference Shares

Page 5 of 5

17. Resolved to approve the purchase of 7¾ % 1978-80 Debentures of Tata

Power Co. Ltd of the face value of Rs. 50,000/- on 9-8-79 from the

Association Fund.

18. The Chairman explained the present position regarding our new building

under construction. He said that the topmost last slab of the building has

been cast. The existing buildings will be demolished, in their place basement

and super structure will be put up, the plans for which are being prepared.

Thereafter Municipal Permission will be obtained and tenders will be issued.

Besides instead of leasing out more space on rent in the lower floors, funds

will be raised by short term deposits. When municipality gives certificate for

partial occupation in the new building the offices in the present building will

be shifted to the new building and construction work of the second phase will

be taken in hand.

Sd/- Sd/-


Secretary President

Dt 25-9-79

Page 1 of 5

Tuesday 25-9-79

A meeting of the Governing Board of the Stock Exchange was held today at 3.00

P.M under the Charimanship of Seth Mathuradas Samaldas wherein the


Seth Mathuradas Samaldas Seth Vasantlal Jivantlal

Seth Phiroze J Jeejeebhoy Seth Bhupendra Champaklal

Seth Vasantlal Champaklal Seth J. R Motishaw

Seth Jaswantlal Chhotalal Seth A R Mahadeva

Seth Vasantlal Kantilal Shah Seth Ashokkumar Girdharlal Fozder

Seth Navinchandra Chhaganlal Seth Purshottam Gopiram Ruiya

Seth Jayant Amerchand Kampani Seth Chhotalal Devchand

Government Nominees

Shri J G Gogte


1. Resolved that the terms for Muhurat Business for Kartik Sam 2036 should be

kept from 6.30 P.M to 7.30 P.M on Saturday 20-10-79.

2. The application dated 14-11-79 of our late Hamal Sahdev Ganpat’s widow Bai

Savitribai S. Kadam was considered and it was resolved to pay her Rs.

8,000/- being the Provident Fund Amount and Gratuity of the late Sahdev

Ganpat.

3. The application dated 10-8-79 of our office staff member Shri Ashwin M Shah

was considered and it was resolved to pay him Rs. 143 from Seth KRP Shroff

Stock Exchange Sarvajanik Fund for college fee etc of the first term of First

LLB.

4. The application dated 17-9-79 of our Sepoy Vilas Gyandev for giving him

assistance of the college fee for the first term of B.A Part II was considered

and it was resolved to give him assistance of Rs.177/- from Seth KRP Shroff


Page 2 of 5

5. The applications of the undermentioned persons of our office staff for group

them loans were considered and it was resolved to give them loans as

mentioned below against their respective names :


Waterman S K Lal Rs. 2,000/-

Hamal Dhondu Sabaji Rs. 2,000/-


approve the permissions given to them for appointment of Representatives

Members as stated below:


Seth Vrajlal Lallubhai Seth K. A Patel

Seth Hiralal Keshavdev Poddar Seth Bhagwandas Keshavji Shinde

Seth Pankaj Ishwarlal Kapadia Seth Navinchandra Varajdas Dalal

Seth V. D Vakil Seth Vithaldas Ramji Marthak

Seth Ranchhoddas Sheshkaran Seth Niranjan Ranchhoddas Shah

7. The letter dated 18-5-79 of Shri. J J Jagirdar asking for permission to do

business in the market in his own name was considered and it was resolved

that he should be allowed to do business in the market in his own name

provided he gives an additional Membership Security Deposit of Rs.50,000/-.

8. The application dated 3-9-79 of Shri Nosir Nanabhai Saher and Pultukode

Sethu Narayan Swami for partnership was considered and it was resolved to

approve partnership under the firm name of M/s Merwanji Bomanji Dalal with

effect from 1-9-79.

9. The application dated 2-8-79 of Shri Shantilal Vallabhdas Sangani nominating

Shri Yogendra Sevantilal Shah as a member of the Exchange in his own place

was considered and after interviewing Shri Yogendra Shantilal Shah and his

recommenders Shri V B Desai and Rasiklal S Jhaveri it was resolved by 12

votes in favour and 1 against to elect Shri Yogendra Shantilal Shah as a

member of the Exchange in the place of Shri Shantilal Vallabhdas Sangani

subject to the Rules and Regulations of the Exchange on condition that he

should not do business in the market in his own name until 20-9-81.

Page 3 of 5

10. The application dated 14-7-79 of Shri Kishanlal Laxmidas nominating Shri

Bhalchandra Kishanlal Adodara as a member of the Exchange in his own place

was considered and after interviewing Shri Bhalchandra Kishanlal Adodara

and his recommenders Shri Jitendra Harjinandas and Bipin K Kapadia, it was

resolved by 13 votes in favour and none against to elect Shri Bhalchandra

Kishanlal Adodara as a member of the Exchange in the place of Shri Kishanlal

Laxmidas Adodara, subject to the Rules and Regulations of the Exchange.

11. The application dated 6-8-79 of Shri Nagardas Nanji Bakhai nominating Shri

Kirti Ramanlal Shah as a member of the Exchange in his own place was

considered and after interviewing Shri Kirti Ramanlal Shah and his

recommenders Shri Sagarmal Bihani and Trambklal Amulakh, it was resolved

by 13 votes in favour and none against to elect Shri Kirti Ramanlal Shah as a

member of the Exchange in the place of Shri Nagardas Nanji Bakhai, subject



Association for the year 1978 was passed.

13. The letter dated 5-9-79 of our Auditors M/s S B Bilimoria & Co asking for

increasing their remuneration was read and it was resolved to recommend to

the General Body to increase their remuneration to Rs.7,500/- p.a for

auditing the Accounts of the Association from the years 1979.

14. Shri Shripal Jan’s letter dated 25-7-79 requesting that his membership

application that has been rejected should be re-considered was read and it

was resolved that his request cannot be accepted. However if he so wishes he

may make an application for membership of the exchange after one year.

15. We have written to Government our reply to the letter dated 5-9-79 of the

Government of India, Ministry of Finance, Department of Economic Affairs,

Stock Exchange Division, relating to implementation of the recommendation

of the Sachhar Committee about Sections 108 (1A) to 108 (1d) of the Indian

Constitution Act. The Board noted it.

Page 4 of 5

16. The Board noted that we have repaid the loans taken from Central Bank of

India, Andhra Bank and Bank of India. It was Resolved that General Body’s

approval should be obtained for investment of funds. We may have from time

to time in Fixed Deposits with Banks and /or on the Bank Guarantee and /or

Bills accepted by Bank’s individually or jointly.

17. Resolved that if deemed proper our computer Equipment should be sold to

the Stock Exchange Foundation or another party at a proper price.

18. The Chairman informed the Board that the finishing work is being done in the

lower floors of our new building under construction and on receipt of

Municipality’s Permission for temporary occupation, offices in our all the

existing buildings will be shifted out from there and in that space construction

of basements will be taken in hand. The finishing work of the space allotted to

Bank of Baroda and General Insurance Corporation of India is going on and

possession of it will be given to them as soon as possible. Bank of Baroda has

chosen to take up a portion of the Ground Floor instead of the 6th Floor in the

Tower.



Regulations and Compliance with the usual requirements and other special

requirements stipulated by us on such conditions as may be deemed proper

by the Chairman, their below mentioned securities should be placed in our list

of Non Cleared Securities traded on the Exchange and their trading lots

should be fixed by the chairman :

Southern Hydro- carbons Ltd Equity Shares

Fort Rock Investment Co Ltd Equity Shares

Bihar Finished Leathers Ltd Equity Shares

India Photographic Co Ltd Equity Shares

Chemiquip Ltd Equity Shares

Malayalam Plantations (India) Ltd Equity Shares

Vinod Paper Mills Ltd Equity Shares

Saraf Paper Mills Ltd Equity Shares

Supreme Paper Mills Ltd Equity Shares

Andhra Pradesh Rayons Ltd Equity Shares

Karnatak Explosives Ltd Equity Shares

Amzel Ltd Equity Shares

Gujarat State Machine Tools Corporation Ltd Equity Shares

Page 5 of 5

Pine Chemicals Ltd Equity and Preference

Shares.

Orichem Ltd Equity Shares

International Computers India Manufacturer Ltd New Equity Shares

The Gwalior Rayon Silk Mfg (Wing) Co Ltd New Equity Shares

Reliance Textile Industries Ltd Debentures

20. Unanimously resolved that the undermentioned Securities have been

redeemed, they should be removed from our list of Securities Traded on the

Exchange:

Rajasthan Spq & Wing Mills Ltd 9% of Preference Shares

Cera Can Co Ltd 10% of Preference Shares

The Thana Electric Supply Co Ltd Preference Shares

Sd/- Sd/-

A J Shah Mathuradas Samaldas

Secretary President

18-12-79

Page 1 of 7

Tuesday, 18/12/79

A Meeting of the Governing Board of the Exchange was held today at S.T. 3.00 P.M.





Seth Jasvantlal Chhotalal Seth A. R. Mahadevia

Seth Vasantlal Kantilal Shah Seth Ashokkumar Girdharlal Fozdar


Seth Jayant Amarchand Seth Purshottam Gopiram Ruiya



1. Resolved that the Board takes note of the painful demise of an old and leading

member of the Exchange and Vice-President Shri Vasantlal Champklal

Mashruwala and expresses its deep sense of grief and sorrow. The Board also

takes note of the self-less services rendered by the deceased for a long time as a

member of the Governing Board, Treasurer and Vice-president of our Exchange.

The Board conveys its deep condolence and sympathy to his family members and

requests the President to send them a copy of this resolution as a mark of our

condolence to them.

2. The application of the undermentioned organization were considered and it was

resolved to give a donation of Rs. 101/- to each of them:

a. The Eduljee Framjee All-blees Leprosy Home, Trombay

b. The Maharashtra State Antituberculosis Association.

3. The application dated 3-10-79 of the sweeper Dayabai Babu was read and it was

resolved to approve the assistance of Rs. 400/- given to her for expenses in

connection with the death of the son.

Page 2 of 7

4. The letter dated 29-11-79 of our retired Sweeper Chhangaram Gangaram was

considered and it was resolved to pay him his accumulated Provident Fund

amount of Rs. 4,169/10 and a son of Rs. 2305/- as Gratuity.

5. The applications for loans of our under-mentioned office staff were consired and it

was resolved to give them loans as shown against their respective names:

Shri R.R. Nair -------------- Rs. 7000/-

Shri Ambujakshan-----------Rs.8000/-

Shri Balkrishna Yashwant---Rs.2000/-

6. The application dated 26-9-79 of S/Shri Gangaram Raghunath Pandya and Bharat

Gangaram Pandya was considered and it was resolved to approve their

partnership under the firm name of M/s G.R. Pandya with effect from 12-10-79.

7. The letters of the undermentioned members were considered and it was resolved

to give them permission to do business as representative Member:


Shri Jitendra Harjivandas Shri Bhalchandra Keshavlal Adodara

Shri Nagindas Chhanganlal Kampani Shri Mangaldas Lalji Kampani

M/s Shantichand B Jhaveri Shri Jamnadas Kanji Vanza

Shri Balubhai Maganlal Jhaveri Shri Amratlal Parmananda

8. The letter dated 19-11-79 of Shri Bhupendra Meghji Bheda was considered and it

was resolved to give him permission to do business as a Representative member

of Shri Kantilal Mohanlal.

9. The letter dated 12-11-79 of Shri Devidas Jamnadas was considered and it was

resolved to give him permission to do business in his own name if he gives an

additional membership Security Deposit of Rs. 50,000/-.

Page 3 of 7

10. The letter dated 1-10-79 of Shri Vinitkumar P Parikh was considered and it was

resolved that if he wishes to do business as a Representative Member of some

other member he should be given permission for that

11. The letter dated 12-11-79 of Shri Keshavji Dhanji asking for permission to do

business in his own name was considered and it was resolved that his request

cannot be acceded to.

12. Our Association Holidays for the year 1980 were fixed.

13. The letter dated 18-10-79 of Shri Jeram Thakersi Halai requesting for withdrawal

of the decision for his expulsion was read and it was unanimously resolved that

his request cannot be accede to.

14. The application dated 3-10-79 of Shri Jeramdas D Jasnani nominating Shri

Rajkumar Kesardev as a member of the Exchange in his own place was

considered and after interviewing Shri Rajkumar Kasardev and his recommenders

S/Shri Bhagwati-Prasad Rungta and V.K.Nanavati it was resolved by 13 votes in

favour and none against to elect Shri Rajkumar Kasardev as a member of the

Exchange in the place of Shri Jerandas D Jasnani subject to the Rules and


15. The application dated 4-10-79 of the near relatives of the late Shri Parmeshwarlal

Dwarkadas Sekhsaria nominating Shri Ashok Chandrakant Samani as a member

of the Exchange in the place of the late Parmeshwarlal Dwarkadas Sekhsaria was

considered and after interviewing Shri Ashok Chandrakant Shah and his

recommenders S/Shri Ashok J Khandwala and Arvind C Dalal it was resolved by

11 voters in favour and 2 against to elect Shri Ashok Chandrakant Samani as a

member of the Exchange in the place of the late Shri Parmeshwarlal Dwarkadas

Sekhsaria subject to the Rules and Regulations of the Exchange.

16. The application dated 30-10-79 of the near relatives of the late Shri Murlidhar

Mahadev Loyalka, nominating Shri Mahendrakumar Murlidhar Loyalka as a

member of the Exchange be the place of the late Shri Murlidhar Mahadev Loyalka

was considered and after interviewing Shri Mahendrakumar Murlidhar Loyalka

Page 4 of 7

and his recommenders S/Shri M.D. Saraf and Arvind C Dalal it was resolved by

13 voters in favour and none against to elect Shri Mahendrakumar Murlidhar

Loyalka as a member of the Exchange in the place of the late Shri Murlidhar

Mahadev Loyalka subject to the Rules and Regulations of the Exchange.

17. The application dated 23-8-79 of Shri Hoshang Framrose Munshi nominating Shri

Madhur Madanmohan Murarka as a member of the Exchange in his own place

was considered and after interviewing Shri Madhur Madanmohan Murarka and his

recommenders S/Shri Suresh B Shirali and Hasmukh Tribhovandas Shah it was

resolved by 10 votes in fovour and 3 against to elect Shri Madhur Madanmohan

Murarka as a member of Exchange in the place of Shri Hoshang Framrose

Munshi, subject to the Rules and Regulations of the Exchange on the condition

that he should not do business in the market in his own name for a period of two

years.

18. The application dated 16-11-79 of Shri Amrutlal C Sheth nominating Shri Manilal

Bhikhabhai as a member. of the Exchange in his own name was considered and

after interviewing Shri Manilal Bhikhabhai and his recommender S/Shri

Sunderdas Kalyanji Kankal and Jasvantlal Chhaganlal as well as reading the

letter of objection dated 26-11-79 of Shri Jeran Thakarsi Halai, it was resolved by

8 voters and 5 against to elect Shri Manilal Bhikhabhai as a member of the

Exchange in the place of Shri Amrutlal C Sheth Subject to Rules and Regulations

of the Exchange on the condition that he should not do business in his own name

for a period of two years.

19. The application dated 28-11-79 of shri Lakshmidas Govindji Kothari nominating

Shri Mukund Mathuradas Shah as a member of the Exchange in his own place

and after interviewing Shri Mukund Mathuradas Shah and his recommenders

S/Shri Manharkant Lakshmidas and Prasanna P Broker it was resolved by 12

votes in favour and 1 against to elect Shri Mukund Mathuradas Shah as a

member of the Exchange in the palace of Shri Laxmidas Govindji Kothari, subject

to the Rules and Regulation of the Exchange on the condition that for two years

he should not do business in the market in his own name.

Page 5 of 7

20. The application dated 29-11-79 of the near relatives of the late Shri C.R. Loyalka

nominating Shri Khimchand Sardarji Raval as a member of the Exchange in the

place of the late Shri C.A. Loyalka was considered and after interviewing Shri

Khimchand Sardarji Raval and his recommenders S/Shri V.K.Nanavati and

Manubhai Maneklal it was resolved by 13 votes in favour and none against to

elect. Shri Khimchand Sardarji Raval as a member of the Exchange in place of

the late Shri C.R. Loyalka, subject to the Rules and Regulations of the Exchange.

21. Resolved that Current account be opened with the Bank of India, Stock Exchange

Branch, Bombay, A/C ‘A’ and the said account be operated jointly by the

President Shri Matradas Samaldas or the Chairman, Shri P.J.Jeebhoy, or the Hon.

Treasurer, Shri Navinchandra Chhaganlal Kampani and by any one of the

following six members of the Governing Board, namely Shri J.R.Motishaw, Shri

Rasiklal Maneklal, Shri Jayant Amerchand, Shri Vasantlal K.Shah, Shri Jasvantlal

Chhotalal and Shri A.R. Mahadevia and be countersigned by the Secretary, Shri

A.J.Shah and in his absence by Shri S.N.Karaka or Shri M.D.Vyas.

22. The Chairman informed the board that on receipt of Municipality permission for

temporary occupation of the lower floors of our new building under construction,

offices of all our existing buildings will be shifted there and the work relating to

diaphragm wall, piling and basements will be taken in hand in the vacant space

so created. For that work tenders received from cementation and Rodio Hazarat

are being evaluated. The tenders for diaphragm wall and piling are upto level 5

Ft Rodio Hazarats’s tender is of Rs. 25 lakhs. Cemenatton has not submitted its

tender for that work.

23. The Listing application of the undermentioned Companies were considered and it

was unanimously resolved that, subject to the Listing Rules and Regulations and

compliance with the usual requirement and other special requirement and other

special requirement stipulated by us on such condition as may be deemed proper

by the Chairman, their below-mentioned securities should be placed in the our

list of Non-Cleared securities traded on the Exchange and their trading lot should

be fixed by the Chairman:

Punjab Woodcomber Ltd. Equity

Page 6 of 7

Nicolas Laboratories India Ltd Equity

Shree Ambuja Petrochemicals Ltd Equity

Hardcastle Vovet Mfg Co Ltd Equity

Kerala Acids & Chemicals Ltd. Equity

Orient Ceramics and Industries Ltd. Equity

May & Baker(India) Ltd Equity

Pratap Rajasthan Special Steels Ltd Equity

Khatau Jankar Ltd Equity

Diamines and Chemicals Ltd Equity

Ficom Organics Equity

Asia Automotives Ltd Equity

Cemendea Ltd Equity

Rasi Cements Ltd Equity

Jaipur Syntex Ltd Equity

Heco Products Ltd Equity

Star Machinery Mfg Co Ltd Equity

Uptron Anand Ltd Equity

Rapid Investments Ltd Equity

Techno Electria and Engineering Co Ltd Equity

Good Value Marketing Co Ltd Equity

The East India Hotels Ltd New Equity

24. The letters of the undermentioned Companies were considered and it was

unanimously resolved that their Securities should be removed from our list of

Securities traded on the Exchange with effect from 1-1-1980 as they do not want

their securities to continue to be traded:

Plastic Resins and Chemicals Ltd.

Tubes and Malleable Ltd.

25. Unamiously resolved to remove the undermentioned securities from our list of

securities traded on the Excghange as they have been redeemed:

Bharat Forge Co.Ltd Prefernce Shares

Shivanji Works Ltd 30,000 9.3% Preference Shares issued in 1964

Page 7 of 7

The Associate Cement Cos Ltd Debenture

26. The correspondence with the Tube Investment of India Ltd and G.L.Hotel was

read and it was resolved that in view of the clarification given by them, the

matter should be dropped for the present. The Board considered the

correspondence between the Bangalore Stock Exchange and Vrindavan Alloys

Ltd, copies of which have been sent to us by the Bangalore Stock Exchange and

unanimously resolved to call for company’s explanation in that connection and if

the Bangalore Stock Exchange removes the shares of that Company from the list

of securities traded on that Exchange. We should also remove its shares from the

list of Securities traded on our Exchange.

Sd/- Sd/-


Secretary President

Dt. 13-2-1980

1

Saturday, 9-2-80

A meeting of the Governing Board of the Exchange was held today as S. T. 2.30 under

the Chairmanship of Seth Mathradas Samaldas, wherein the under mentioned members of

the Board was present:


Seth Jasvantlal Chhotalal JSeth J. R. Motishaw

Seth Vasantlal Kantilal Shah Seth Ashokkumar Girdharilal Fozdar




Government Nominee

Shri M. L. Chawla


1 Resolved that this Board painfully takes note of the sudden and unexpected

demise of our respected Chairman Shri. P. J. Jeejeenhoy and expresses its deep

sense of grief and sorrow. He has made huge and invaluable contribution for

growth of the Exchange by dedicating his whole life and time in rendering selfless

service to the Stock Exchange. Whenever emergences, baffling situations and

other difficulties arose in the market, he tackled them with wisdom and tact. He

constantly worked for preserving and enhancing the interest of the members, their

Staff, other people working in the market and investors. Not only that, by

systemizing the Stock-broker profession and Stock Exchange business he made

significant contribution in increasing their pride and prestige. It is because of

these efforts made by him that the Stock Exchanges are so vary dynamic and

performing their part so well at present in raising the necessary capital for rapid

expansion of industrialisation of the country. Until his last breath he made tireless

efforts for increasing the volume of business on the Exchangfe by introducing

2

new schemes, simplifying Settlement procedures and conceptualizing new

building, its completion and creating modern facilities for accelerating the growth

of business. It is our misfortune that the destiny has snatched him away from us

before complete realization of his dreams of positioning our Exchange along with

other leading Stock Exchanges in the world. His is an irrespirable loss. This

Board prays to the Almighty God to bestow eternal peace to his pious soul and

also conveys his heartfelt sympathy and condolences to all his family members.

The Board requests the President to send a copy of this Resolution to his family

members as a token of sharing their grief and sorrow.

Sd/- Sd/-


Secretary President

Date 13-2-1980

1

Wednesday, 13-2-1980


pm. under the Chairmanship of Seth Mathradas Samaldas wherein the under

mentioned members of Board were present:


Seth Jasvantlal Chhotalal Seth Bhupendra Champaklal Devidas

Seth Vasantlal Kantilal Shah Seth J. R. Motishaw

Seth Laldas Jamnadas Seth A. R. Mahadevia





Government Nominees

Shri M. R. Mayya

Shri M. L. Chawla

Shri A. G. Sirsi

Shri J. G. Gogte


1 The Board discussed the situation arising out of the sudden demise of our

Chairman Shri P. J. jeejeebhoy,

2 Shri M. R. Mayya, while paying tribute the late Shri P. J. Jeejeebhoy praised

invaluable services rendered by him to the Stock Exchange for a long time and

said that even Government had great respect for him. He further said that Shri P.

J. Jeejeebhoy’s loss is irrepairable and the value of his services unredeemable.

The President suggested that for administration of our organisation and the

market, our Secretary Shri A. J. Shah should be vested with the necessary

authority and the matters relating to the building should be looked after by the

Building Sub-Committee.

2

Thereafter a resolution was unanimously passed as follows:

“The Governing Board considered the question regarding the delegation and

exercise of the power in view of the sad and sudden demise of the Chairman Shri

P. J. Jeejeebhoy. The President pointed out that till any final decision is taken

regarding the successor to Mr. Jeejeebhoy, it was advisable to make a proper

arrangement so that the smooth functioning of the Exchange be continued. It

was discussed that in view of the provisions of Rule 154(b) the functions and

powers of the Chairman shall be exercised by a senior available officer of the

Exchange under the directions of the Governing Board. The senior available

officer of the Exchange is Mr. A. J. Shah, the Secretary of the Exchange.

After discussion it was resolved that, until otherwise resolved, all the powers of

the Governing Board for day to day administration of the Exchange, including

power under Rules 120(iv), 120(v), 120 (vii), 120(ix),120(x), 120, (xi),

120(xiv), 120(xv) and to regulate working of the market, shall be exercised by

Mr. A. J. Shah, the Secretary of the Exchange and he is further authorized to

take all the necessary steps in that behalf as he may deem fit.”

3 Unanimously resolved to give powers to our Secretary Shri. A. J. Shah for

considering listing applications for enlistment of bonus / right securities issued by

the companies listed on the Exchange or new Securities issued by them without

Prospectus and for admitting such securities in the list of securities traded on the

Exchange.

Sd/- Sd/-

A. J. Shah Laldas Jamnadas

Secretary President

Date: 11-3-80

1

Monday, 18-2-1980


pm. under the Chairmanship of Seth Mathradas Samaldas wherein the under

mentioned members of Board were present


Seth Jasvantlal Chhotalal Seth Bhupendra Champaklal Dalal

Seth Vasantlal Kantilal Shah Seth J. R. Motishaw

Seth Laldas Jamnadas Seth A. R. Mahadevia





Government Nominees

Shri M. R. Mayya

Shri M. L. Chawla

Shri A. G. Sirsi

Shri J. G. Gogte


1 Dr. N.K. Sengupta, Jt. Secretary, Economics Affairs Department, Finance Ministry

had come on a visit. The President welcomed him and introduced him to the

members of the Board and expressed hope that the Government’s support, co-

operation and valuable guidance will continue to be available as before, even

after the unexpected demise of our respected Chairman the late Shri

P.J.Jeejeebhoy because of which his meeting with the late Shri P.J. Jeejeebhoy

which was scheduled to take place to-day as planned in advance did not

materialise. Making mention of the unmatchable service rendered by the late Shri

P. J. Jeejeebhoy to our Stock Exchange and other Stock Exchanges as well as his

valuable guidance that was being received by the Government and which would

not be available now, he highly lauded Shri P.J. Jeejeebhoy. He emphasized the

need to protect the high prestige built-up by Shri P.J. Jeejeebhoy and continue to

endeavor to complete the unfinished tasks begun by him.

2

Thereafter, the Board discussed matters relating to the problems faced by the

companies, investors, brokers and the stock broking business because of the

provisions of Sections 108 (1-A) to (1-D) of the Companies Act as well as the

recommendations made in the Sachar Committee’s Report.

Sd/- Sd/- A.J. Shah Mathradas Samaldas Secretary President

Date: 11-3-80

1

Tuesday, 11-3.-1980

A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 pm.

under the Chairmanship of Seth Mathradas Samaldas, wherein the undermentioned members of

the Board were present:


Seth Ishwarlal Chhotalal Seth J. R. Motishaw


Seth Laldas Jamnadas Seth Ashok Kumar G. Fozdar




Government Nominees

Shri. M. R. Mayya

Shri J. G. Gogte


1 The applications for help of the undermentioned institutions were consider and it was

resolved to donate Rs. 101/- to each of them

1 The Bombay Dumb and Deaf Institution

2 All India Federation of the Deaf.

2 The application dated 7-3-80 from our office staff member Shri Ashwin M. Shah was

considered and it was resolved to give him help of Rs. 238/- for the college fee of the

second term of first LLB, examination fee, etc. from Seth K.R.P. Shroff Stock

Exchange Sarvajanik Fund..

2

3 The application dated 6-3-80 of our Sepoy Vilas Gyandev for giving him help we

considered and it was resolved to give him help of Rs. 283/- from Seth. K.R.P. Shroff

Stock Exchange Sarvajanik Fund for the 2nd term college fee of B. A. Final Part 2.

4 The report of Shri Shapurji Brorcha Brokers’ Helping Fund dated 15-2-80 was read and

it was resolved to approve it.

5 The late Shri Harkisandas Pranlal Desai was being geven help from Sir Shapurji

Brorcha Brokers Helping Fund As he has expired, his son Shri Amratlal Harkisandas’s

application dated 15-1-80 for giving that help for one more year because of the

expenses incurred in performance of the obsequies ceremonies was considered and it

was resolved to give to help of Rs. 480/- to Shri Amratlal Harkisandas from Sir Shapurji

Brorcha Brokers Helping Fund.

6 The applications for loans of the undermentioned persons of our office staff were

considered and it was resolved to give them loans as mentioned against their respective

names:

Shri V. K. Suverna Rs. 10,000/-

Liftman Maruti Govind Gajmal Rs. 4,000/-

Sepoy Dinanath Sarmalkar Rs. 4,000/-

7 The application dated 9-1-80 of Shri Ajay R. Vakharan for appointing Shri M. J. Halai

as his Remiser was considered and it was resolved that his request could be acceded to .

8 As Shri Vasantlal Chhampakal has expired, the letter dated 7-3-80 of Shri Jitendra

Champaklal Mashruwala, Smt. Sumati Vasnatlal and Shri Deepal Vasantlal Mashriwala

asking for permission to continue the business of the partnership firm of M/s. Bhaidas

Maganlal & Co. was considered and it resolved to give them permission to continue the

business of the partnership firm of M/s. Bhaidas Maganlal & Co. upto 31-3-80.

3

9 The letter dated 26-12-79 of S/Shri Rasiklal Sarabhai Jhaveri and Pradip Rasiklal

Jhaveri was read and it was noted that, as Shri Arunbhai Sarabhai Jhaveri has expired

on 10-12-79 his partnership in the firm of M/s. S. D. Jhaveri has ceased.

10 The application dated 19-1-80 of the S/Shri Minoo Ardesar Karanjia, Soli Ardesar

Karanjia and Madhur Madan Morarka for their partnership was considered and it was

resolved to approve the partnership under the name of M/s. Batliwala & Karani with


11 The letter of the undermentioned members were read and it was resolved to approve the

permission given to them to do business as Representative Members as shown below:


Shri V. K. Nanvati Shri Khamchand Serdarji Raval

SHri Manubhai Maneklal Shri Ramniklal Mangaldas

M/s. Mohanlal Nagardas & Co. Shri Gopikishan Kishanlal Rungta

12 The application dated 28-1-80 of Shri Narendra P. Broker for nominating Shri Alkesh

Dinesh Modi in his own place was considered and after hearing his recommenders

S/Shri R. R. Shah and Jitendra Harjivandas it was resolved by 13 votes in vavour and

none against to elect Shri Alkesh Dinesh Modi as member of the Exchange in the place

of Shri Narendra P. Broker, subject to the Rules and Regulations of the Exchange on

condition that he should not do business in the market in his own name for a period of

two years.

13 Resolved that S/Shri Jayantilal Mansukhlal Dalal, Nagindas Trambkalal and S. N. Shah

be appointed as scrutineers for scrutinising the ballot papers for election of the

Governing Board for the year 1980-81 and declaring its result.

4

14 The letter dated 28-1-80 and 25-2-80 of Shri Chimanlal Khanna were read and it was

resolved to inform him to make an application for membership of according to the

Rules and Regulation of the Exchange.

15 “RESOLVED THAT the first interest for the period ended 31st March, 1980, on the

Fixed Deposits with us be made payable to the depositors through Bank of India, Stock

Exchange Branch, Bombay from our Current Account with them.

Further, Resolved that the signature of Mr. A.J. Shah be pre-printed on the interest

warrants and that Mr. A.J. Shah is hereby authorised to give instructions regarding

operation of the account and relating to payment of the interest either in cash or by

Money Order as the case may be, on behalf of the Exchange and to sign letters of

indemnity and undertaking required by the Bank of India, for that purpose, as per the

specimen thereof produced to the Governing Board with such alterations as may be

deemed necessary.

Further Resolved that the common seal of the Exchange be affixed to the above

mentioned letters of indemnity and undertaking in the presence of two members of the

Governing Board namely Shri Jayant Amerchand and Shri Vasantlal Kantilal Shah.”

16 In the case of the Public Issue of its Convertible Bonds, Tata Engineering and

Locomotive Co. Ltd. desires to pay brokerage at a rate higher than the usual rate and

also on a graded scale. In that connection, Governments letter dated 3-3-80 was

considered and the matter was discussed and it was resolved that we are in favour of the

Scheme of brokerage prepared by the Company to encourage brokers to make the

necessary hard efforts and put in hard work for getting the bonds subscribed in view of

the huge amounts of the Bonds and because the Bonds are not being undermention

It was further resolved that we favour in principal payment of brokerage at rates higher

the usual rate and / or in quoted scale in order to necessary encouragement to brokers

also in Public Issues of such their Debentures / Bonds of very large amounts.

5

17 The listing application of the undermentioned Companies were considered and it was

unanimously resolved that, subject to the Listing Rules & Regulation as well as

compliance with the usual requirement and other special requirement stipulated by us,

their below mentioned securities should be placed in our list of Non-Cleared Securities

traded on the Exchange and their trading lots should be fixed:

Techno Electric and Engineering Co. Ltd. Equity Shares

Sulfar India Ltd. Equity Shares

Currim Keskami Ltd. Equity Shares

Western India Erectors Ltd. Equity Shares

Deccan Investment Ltd. Equity Shares

Upar Chemicals Ltd. Equity Shares

Crauetey Ltd. Equity Shares

----- and Lloyds of India Ltd. Equity Shares

Eence ----- Development Co. Ltd. Equity Shares

Mipco Investment Ltd. Equity Shares

Shrideet Trading and Agencies Ltd. Equity Shares


6 ¾ % Bonds (2000)

18 The letters of the under mentioned companies were read and it was unanimously

resolved that their securities should be removed from our list of securities traded on the

Exchange as they do not want to continue their securities to be traded;

Aruna Sugars Ltd.

The Devnagri Cotton Mills Ltd.

The Dehri-Rohtas height Rly Co. Ltd.

Ashok Cement Ltd.

Textile Processing Corporation of India Ltd.

18 Unanimously resolved to removed the undermentioned securities from our list of

Securities traded on the Exchange as they have been redeemed:

6

Gujarat State Fertilizer Co. Ltd 9.3 % Pref. Shares

Kirloskar Oil Engines Ltd 8.10% Participating Pref. Shares

Sd/- Sd/- A. J. Shah Mathradas Samaldas Secretary President

Date: 17-4-80

1

iThursday, 17-4-1980


pm., in the beginning under the Chairmanship of Seth Mathradas and thereafter

under the Chairmanship of Shri Laldas Jamnadas wherein the under mentioned

members of Board were present:



Seth Arvind Chimanlal Dalal Seth Prabhudas Lilladher




Seth Bhupendra Champaklal Dalal Seth Kirtikumar Narbheram Parekh

Seth Ramdas Lallubhai

Government Nominees

Shri M. R. Mayya

Shri J. G. Gogte


1 Proposed by Shri Rasiklal Maneklal and supported by Shri Jayant Amerchand,

Seth Mathradas Samaldas was unanimously elected as a Chairman of today’s

meeting.

2 Proposed by Seth Mathradas Samaldas and supported by Seth Rasiklal

Maneklal it was unanimously resolved to elect Seth Laldas Jamnadas as the

President.

Seth Mathradas Samaldas handed over to the Chairmanship to Seth Laldas

Jamnadas. Seth Laldas Jamnadas thanked all the members of the Board for

reposing their trust in him by re-electing him as the President and praised the

service rendered by Seth Mathradas Samaldas to our Association as

President. He welcomed S/Shri Arvind C. Dalal, Prabhudas Lilladher,

Kirtikumar Narbheram Parekh and Ramdas Lallubhai and congratulated them

for being elected as members of the Board. He said that all of us are proud by

the way in which we have maintained our name, fame and honour during

2

more than hundred years existence of our market and expressed hope that

old and new members of the Board will continue to give co-operation for that

collectively and individually by making sacrifice. He also expressed hope that

the Government Nominees also will continue to give support and co-operation

as usual.

3. Proposed by Seth Rasiklal Maneklal and supported by Seth Purshottam

Gopiram Ruia it was unanimously resolved to elect Shri Vasantlal Kantilal

Shah as the Vice-President.

4. Proposed by Seth Jayant Amerchand and supported by Seth Arvind C. Dalal it

was unanimously resolved to elect Seth Navinchandra Chhaganlal Kampani as

Treasurer.

5. Resolved to nominate the undermentioned persons as members of the

Arbitration Committee for the year 1980-81 :

Shri Keki N. Chinoy Shri V.K. Nanavati

Shri Jayantilal H. Dalal Shri Jayendra D. Mehta


Shri D.V. Shukla Shri Govindbhai B. Desai


Shri Bhagubhai Amthalal Gandhi Shri Shirish Chimanlal Dave

Shri S.M. Shah Shri Kirtilal K. Shah

Shri Nagindas Trambaklal Parekh

Resolved further that the remaining one seat should be filled up later.

6. Resolved that the Defaulter Committee for the year 1980-81 should be

appointed consisting of the undermentioned members:

Shri Jayant Amerchand Shri Jayantilal Mansukhlal Dalal

Shri Vasantlal Kantilal Shah Shri Rasiklal S. Jhaveri


7. Resolved to appoint Sir Shapurji Broacha Brokers’ Helping Fund consisting of

S/Shri J.R. Motishaw, Mathradas Samaldas, Jayant Amerchand and Dhirajlal

Maganlal.

8. Resolved to appoint the Building Finance Committee consisting of the

undermentioned members:

Shri Jayant Amerchand Shri J.R. Motishaw

3

Shri Vasantlal Kantilal Shah Shri Rasiklal Maneklal

Shri Mathradas Samaldas

9. Resolved to appoint Building Works Committee consisting of S/Shri Jayant

Amerchand, Vasantlal Kantilal Shah, Jasvantlal Chhotalal, Ashokkumar G.

Fozdar, Prabhudas Lilladher, Ramdas Lallubhai, Jayantilal Mansukhlal Dalal

and Nagindas Trambakdas.

10. Resolved that cheques be signed by the President Shri Laldas Jamnadas, or

the vice President Shri Vasantlal Kantilal Shah or the Hon. Treasurer Shri

Navinchandra Chhaganlla Kampani and any one of the following five members

of the Governing Board, namely Shri J. R. Motishaw, Shri Jayant Amerchand,

Shri Jaswantlal Chhotalal, Shri Arvind C. Dalal and Shri Ramdas Lallubhai and

be countersigned by the Secretary Shri A.J. Shah and in his absence by Shri

S.N. Karaka or Shri M.D. Vyas.

11. Resolved that the various accounts and safe custody accounts of the

Exchange be operated on jointly by the President Shri Laldas Jamnadas or the

Vice-president Shri Vasantlal Kantilal Shah or the Hon. Treasurer Shri

Navinchandra Chhaganlal Kampani and by any one of the following five

members of the Governing Board, namely, Shri J.R. Motishaw, Shri Rasiklal

Maneklal, Shri Jayant Amerchand, Shri Jasvantlal Chhotalal and Shri Ramdas

Lallubhai and be countersigned by the Secretary, Shri A.J. Shah and in his

absence by Shri S.N. Karaka or Shri M.D. Vyas.

12. Resolved that the current account and safe custody accounts with Bank of

India in the name of the Stock Exchange Staff Provident Fund and the Stock

Exchange Staff Gratuity fund be operated on either by any law of the Trustees

of the Exchange for the time being or the survivors or survivor of them or

jointly by the Hon. Treasurer Shri Navinchandra Chhaganlal Kampani and any

one of the following five members of the Governing Board, namely, Shri J.R.

Motishaw, Shri Rasiklal Maneklal, Shri Jayant Amerchand, Shri Jasvantlal

Chhotalal and Shri Ramdas Lallubhai and be countersigned by the Secretary

Shri A.J. Shah and in his absence by Shri S.N. Karaka or Shri M.D. Vyas.

4

13. The Governing Board was informed that Bank of Baroda, Bombay, has

agreed at the request of “The Stock Exchange” to grant to the Stock

Exchange a clean Temporary Overdraft facility up to a limit of Rs. 20,00,000/-

( Rupees Twenty Lakhs Only) inter alia against the following documents and

after noting this it was:-

RESOLVED THAT sanction be and is hereby given to the Stock

Exchange to borrow from Bank of Baroda, Bombay, by way of clean

Temporary Overdraft Account up to a limit of Rs. 20,00,000/- (Rupees Twenty

Lakhs only) inter alia against the following documents and that “The Stock

Exchange” do execute the relevant documents in this behalf.

1. A Demand pronote for Rs. 20,00,000/- signed on behalf of the Stock

Exchange by Shri Laldas Jamnadas, the President, Shri Vasantlal Kantilal

Shah, Member of the Governing Board, and by the Secretary Shri A.J.

Shah.

2. A letter of continuing security for Rs. 20,00,000/- signed on behalf of

“The Stock Exchange” by Shri Laldas Jamnadas, the President, Shri

Vasantlal Kantilal Shah, Member of the Governing Body and by the

Secretary Shri A.J. Shah.

RESOLVED FURTHER THAT the said Overdraft Account with the Bank

be operated upon by (1) the President, Shri Laldas Jamnadas or the Vice-

President Shri Vasantlal Kantilal Shah or the Hon. Treasurer Shri

Navinchandra Chhaganlal Kampani (2) any one of the following five Members

of the Governing Board, namely, Shri J.R. Motishaw, Shri Jayant Amerchand,

Shri Jasvantlal Chhotalal, Shri Arvind C. Dalal and Shri Ramdas Lallubhai and

be countersigned by the Secretary, Shri A.J. Shah, and in his absence by Shri

S.N. Karaka or Shri M.D. Vyas.

RESOLVED FURTHER THAT the said Bank be and are hereby authorised

to honour all cheques, Bills of Exchange, Promissory Notes, drawn, endorsed,

accepted or made by the abovenamed as aforesaid and to act on instructions

so given by them relating to the account whether the same be overdrawn or

not or relating to the transactions of the Company.

5

RESOLVED LASTLY THAT a certificate true copy of the foregoing

resolution be furnished to the Bank for their records.


Champaklal Amerchand nominating Shri Harikishan Hiralal Bisa as a member

of the Exchange in the place of the late Shri Champaklal Amerchand was

considered and after interviewing Shri Harikishan Hiralal Bisa and his

recommenders S/Shri Vinaychandra Narbheram Parekh and Brijmohan

Sagarmal it was resolved by15 votes in favour and none against to elect Shri

Harikishan Hiralal Bisa as a member of the Exchange in place of the late Shri

Champaklal Amerchand subject to the Rules and Bye-laws of the Exchange.

15. The application dated 2-4-80 of Shri Sakarchand Hathsung nominating Shri

Hemendra Mathradas Kothari as a member of the Exchange in his own place

was considered and after interviewing Shri Hemendra Mathradas Kothari and

his recommenders S/Shri Maganlal T.Vora and Priyankant M. Dalal it was

resolved by 15 votes in favour and none against to elect Shri Hemendra

Mathradas Kothari as a member of the Exchange in the place of Shri

Hathsung Sakarchand, subject to the Rules and Regulations of the Exchange.

16. The application dated 18-2-80 of the near relatives of the late Shri Jasvantlal

Maneklal nominating Shri Mahendra Chunilal Babu as a member of the

Exchange in the place of the late Shri Jasvantlal Manilal was considered and

after interviewing Shri Mahendra Chunilal Babu and his recommenders S/Shri

Sureshchandra Nandlal and Narandas Jawaharlal it was resolved by 12 votes

in favour and 3 against to elect Shri Mahendra Chunilal Babu as a member of

the Exchange in the place of late Shri Jasvantlal Maneklal subject to the Rules

and Regulations of the Exchange on condition that he should not do business

in the market in his own name for a period of two years.

17. The application dated 20-3-80 of Shri Cyrus P. Bharucha for the post of a

computer operator was considered and it was resolved to appoint him for the

said post in the grade of Rs. 750-50-1,500, with the initial pay of Rs.750/-

per month.

18. The application dated 15-10-79 of our former site supervisor Shri M.S.

Kaupara was considered and it was resolved to pay him the amount of Rs.

2197.44p accumulated in his Provident Fund Account.

6

19. The application dated 26-3-80 of our office sepoy Dattaram Govind fro giving

him a loan was considered and it was resolved to give him a loan of Rs.

5000/-.

20. The letter dated 12-3-80 of Ms. Pramila Suryakant Maniar, wife of late Shri

Suryakant Harilal Maniar was considered and it was resolved to approve the

permission granted to Shri Hemantkumar Rasikalal to continue the business

of late Shri Suryakant Harilal Maniar as per her request.

21. The letter dated 28-3-80 of Smt. Prabhavte Ratilal Shah and S/Shri Ramniklal

Ratilal Shah and Saualal Ratilal Shah was considered and it was resolved that

as requested by them Shri Ramniklal Ratilal Shah should be given permission

to continue the business of M/s R.J.Shah & Co., for a period of three months.

22. Letter of the undermentioned members were read and it was resolved to

approve the permission given to do business as a Representative Member as

shown below:


M/s R.M. Thanvi Shri M.G. Damani

M/s Debidutt K. Modi Shri Vinitkumar P. Parikh

23. The undermentioned partnerships were approved:

Name of the Partnership Firm Name of Partners Date of Partnership

M/s Bhaidas Maganlal Shri Jitendra Champaklal 1-4-80

Shri Vinay Jitendra Mashruwala

M/s Jasvantlal V. Bhagat Shri Jasvantlal V. Bhagat 1-4-80

Shri Bakul Jasvantlal Bhagat

24. The letter dated 15-4-80 of M/s Hiralal Lilladher as well as the letter dated

22-3-80 of Shri Bhagwandas Madurai and the letter dated 24-3-80 of Shri

Dwarkadas J. Madurai was read and it was resolved to give permission to Shri

Bharat Hiralal to do business in the market in his own name if he gives an

additional membership security of Rs.50,000/-.

25. The Government’s letter dated 10-3-80 regarding Nagarjuna Fertilisers and

Chemicals was considered and it was resolved that taking into consideration

the large amount of capital to be issued by the Company we have no

objection to permission being given to the Company for issuing equity shares

of the face value of Rs.100/- each.

7



Regulations and compliance with the usual requirements and other specific

requirements stipulated by us, their below mentioned securities should be

placed in our list of Non-Cleared Securities traded on the Exchange and their

trading lots should be fixed:

Narendra Explosives Ltd. ….. Equity

Lohia Machines Ltd. ….. Equity

Ruston and Hornsby (India) Ltd. …… Equity

Modern Suiting Ltd. …… Equity

Indo Swiss Time Ltd. …… Equity

27. Unanimously resolved that as the undermentioned companies have not yet

paid the Annual Listing fee for the year 1979 though repeatedly reminded,


Exchange if they do not pay up the said fee until 17-5-80:

1. Arakali Swachatel Vahan Ltd.

2. Behar Hotels Ltd.

3. Chenco Pulp Tissues Ltd.

4. Heneket Industrial Investment Co. Ltd.

5. Indo-Swiss Pipe Manufacturers Ltd.

6. New Commercial Investment and Trading Co. Ltd.

7. Prestolete of India Ltd.

8. Punchkala Mart Ltd.

9. Ramacast Ltd.

10. Sakarmari Steel & Alloys Ltd.

11. Simtade Ltd.

12. Vijaywada bottling Co.Ltd.

13. Willard India Ltd.

28. The letters of the undermentioned companies were read out and it was

unanimously resolved to remove their securities from our list of securities

traded on the Exchange as the companies do not want to continue their

securities to remain in our list of securities traded on the Exchange.

1. Mercantile Credit Corporation Ltd.

2. The British India Corporation Ltd.

8

3. Daleriwala Steel and Engineering Co.Ltd.

29. Unanimously resolved that as the deferred shares of Swastik Textile Mills

Ltd., have been converted into ordinary shares, the deferred shares should be


Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President

Date: 26-4-80

1

Saturday, 26-4-1980


pm., under the Chairmanship of Seth Laldas Jamnadas wherein the under mentioned

members of Board were present:

Seth Laldas Jamnadas Seth Jayantilal R. Khandwala


Seth Mathradas Samaldas Seth Prabhudas Lilladher




Seth Bhupendra Champaklal Dalal Seth Kirtikumar Narbheram Parekh



1 The President and Seth Bhupendra Champaklal had discussion in Delhi with

Dr. Sengupta, Jt. Secretary, Finance Ministry and Shri M.R. Mayya of the

Stock Exchange division about selection and appointment of a successor to

our late Chairman Shri P.J. Jeejeebhoy. The President acquainted the Board

about that discussion and Government’s view in that respect. Keeping that in

mind it was resolved to appoint a Selection Committee consisting of S/Shri

Hasmukh T. Parekh, Laldas Jamnadas, Vasantlal Kantilal Shah, Jayant

Amerchand and a Government Nominee under the Chairmanship of Shri

Hasmukh T. Parekh to select a successor to late Shri P.J.Jeejeebhoy.

It was further resolved that if the Committee has any difficulty in selecting a

suitable person it may make selection after inviting applications by

advertisement.

Sd/- Sd/- A.J. Shah Laldas Jamnadas Secretary President Date: 2-5-80

1

Friday, 02-05-1980


pm., under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned







Seth Bhupendra Champaklal Devidas Seth Purshottam Gopiram Ruiya

Seth Ramdas Lallubhai Seth Kirtikumar Narbheram Parekh

Government Nominee

Shri M. R. Mayya


1. The Board considered the Report dated 02-05-1980 submitted by the

Committee appointed for making recommendation for appointment of a

successor to the Late Shri P. J. Jeejeebhoy and took note of the Committee’s

unanimous recommendation for appointment of Shri V. D. Sonde. During the

discussion on the matter, Shri M. R. Mayya said that though the

Government’s approval for appointment of the Chairman is not needed under

the present Rules and Regulations, we should write to the Government to

know the views about the abovementioned appointment, as a matter of

courtesy, and should make the appointment only after receipt of

Government’s reply. It will be necessary to make suitable amendments in the

Rules and Regulations for obtaining prior approval of the Government for

making appointment of the Chairman in the future. After discussion, it was

resolved that the matter relating to appointment of Shri V. D. Sonde as our

Chairman as per the recommendation of the abovementioned Selection

Committee should be considered in the next meeting hereafter.

2. The President acquainted the Board with the details of the objections received

in connection with the transfer of offices from our existing building to the new

2

building and the situation that has arisen because of that and the efforts

being made by the Building Sub – Committee.


Date: 09-05-1980

1



pm., under the Chairmanship of Shri Laldas Jamnadas wherein the under mentioned





Seth Jayant Amerchand Seth Ashokkumar G. Fozdar


Seth Jasvantlal Chhotalal Seth Kirtikumar Narbheram Parekh


Government Nomonees

Shri M. K. Chawla

Shri J. G. Gogte


1. The matter relating to taking of a loan from Bank of India was discussed

2. “Resolved That a notice as under should be issued:

“All the Members are hereby informed that the Governing Board has resolved that as

the work of shifting the members’ offices to the new building is going on at

present for facilitating that work, it has been decided to make arrangements for

doing business in the market and fix the programme as under:

Wednesday, 11-06-1980 – ST.T.12 to 2 pm in the existing Trading Hall

Thursday, 12-06-1980 – The market will remain closed for business

Friday, 13-06-1980 – ST.T.12 to 1 pm in the existing Trading Hall

Saturday, 14-06-1980 – ST.T.12 to 1pm in the New Building

Monday, 16-06-1980 – ST.T.12 to 1pm in the New Building

Tuesday, 17-06-1980 – ST.T.12 to 2pm in the New Building

Wednesday, 18-06-1980 – ST.T.12 to 2pm and Budget Session in the New Building

Thursday, 19-06-1980 and onwards – As usual in the New Building

2

3. As there appeared to be misunderstanding among some members regarding the

temporary offices given to members in the new building in lieu of their original

offices in the Stock Exchange buildings, it was RESOLVED THAT after completion

of the construction, in including the IInd phase, where find allotment of offices is

made to the members in the new building in lieu of their original offices, special

care will be taken to allot them offices, the same area as that of the original

office, according to our records or of the area of their offices in the present

building whichever be larger and as much as possible ground the trading hall in

the new building, according to the location of their original offices around the

their trading hall. If the area of the new office allotted be smaller than that of

their original office, the remaining office space will be allotted some distance

away.


Date: 16-06-1980

1

Monday, 16-06-1980


4:30 p.m. under the Chairmanship of Shri Laldas Jamnadas, wherein the

undermentioned members of the Board were present;

Seth Laldas Jamnadas Seth Navinchandra Chhaganlal Kampani

Seth Vasantlal Kantilal Shah Seth Prabhudas Lilladher

Seth Mathradas Samaldas Seth Ashokkumar G. Fozdar

Seth Jasvantlal Chhotalal Seth J.R. Motishaw


Seth Rasiklal Maneklal Seth Kirtikumar Narbheram Parekh

Seth Jayantilal R.Khandwala Seth Ramdas Lallubhai

Government Nomonees

Shri M. K. Chawla

Shri J. G. Gogte

The following business was transacted in the meeting;

1. The President acquainted the Board about the on going negotiations with the

Bank of India to give it on lease two floors in the tower of our new building

and obtain from it a loan of Rs. 1,25,00,000/-. He also gave a report of his

talks with the Government on 13.06.1980 about appointment of a Chairman

of our Exchange.

2. The application dated 23-05-1980 of Shri Ramesh H. Patel, site supervisor of

our new building, for a loan of Rs. 2000/- was considered and it was resolved

to give approval for that loan given to him.

3. The application dated 20-05-1980 of our sepoy Tukaram Bhikaji for giving

him a loan was considered and it was Resolved to give him a loan of Rs.

4000/-.

4. The letter dated 14-05-1980 of Shri Tribhovandas Keshavlal and Devendra

Kesawlal was read and it was noted that Shri Devendra Kehvlal had ceased to

2

be a partner in the firm of M/s. Kesavdas Pranjivandas with effect from 1-4-

1980.

5. The Government’s letter dated 27-3-80 was considered and it was resolved to

inform the Government in writing that we were against putting any

restrictions on transfer of shares in small lots.

6. Resolved that the notice No. 1254/80 dated 11-6-80 put up by the President,

should be confirm. It was further Resolved that in order to facilitate work of

shifting of offices of the members that is going up on at present, our market

should be kept closed for business on Wednesday, 25-06-80 and Friday, 26-

6-80.


1


A meeting of the governing Board of the Stock Exchange was held today at

S.T. 6:00 p.m. under the Chairmanship of Shri Laldas Jamnadas, wherein the



Seth Vasantlal Kantilal Shah Seth Prabhudas Lilladher

Seth Mathradas Samaldas Seth Ashokkumar G. Fozdar

Seth Jasvantlal Chhotalal Seth J.R. Motishaw

Seth Jayant Amerchand Seth Navinchandra Chhaganlal Kampani



Government Nomonees

Shri M. K. Chawla

1. Dr. N.K. Sengupta, Jt. Secretary, Finance Ministry of Economic Affairs

department and the Controller of Capital issues, Shri R.N. Bansal, were

present by invitation. The matter regarding proposed amendments to

section 108(1A) to (1D) of the Companies Act, contemplated by

Government was discussed with them.

2. The President informed the Board about the talks he had with

Government about appointment of Shri V.D. Sonde as Chairman of

our Exchange.

Sd/- Sd/-

A.J. Shah Laldas Jamnadas

Secretary President

Date: 01-07-1980

1


A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3:30 p.m. under the Chairmanship of Shri Laldas Jamnadas, wherein the undermentioned members of the Board were present:




Seth Jasvantlal Chhotalal Seth Ashokkumar G. Fozdar

Seth Arvind Chimanlal Seth Purshottam Gopiram Ruiya

Seth Jayant Amerchand Seth Kirtikumar Narbheram Parekh

Seth Rasiklal Maneklal Seth Ramdas Lallubhai

Government Nomonees

Shri M.R. Mayya

Shri M. K. Chawla

Shri J. G. Gogte


1. In response to our proposal for appointment of Shri V.D. Sonde as

Chairman of our Exchange, Government’s letter dated 21-07-1980 and

its telex message 23-03-1980 giving approval for appointment of Shri

V.D. Sonde as Executive Director were read out after discussing the

matter it was resolved that the President should persuade the

Government to grant our desire to appoint Shri V.D. Sonde as

Chairman of our Exchange.

2. Resolved that the tenants of our erstwhile Karson Netha builder who

have been given office on the fifth floor of the Exchange building and

are again to be shifted to office in our new building under construction

should again be given assurance in writing by the President, as given

by the Chairman previously that after completion of construction of our

2

new building they will be given offices in the new building of the same

area as of there original offices.

3. In connection with the request of the members to them to install

telephones in the Trading Hall in view of the difficulties experienced by

them in communicating between their offices and the market because

of the long distances between their offices in the new building and the

Trading Hall, it was RESOLVED THAT subject to the number of such

telephones which could be installed in the Trading Hall, permission

should be granted to members for installation of our telephone per

number on payment of subscription of Rs. 4000/- p.a.

4. “The President reported that the Bank of India (hereinafter referred to

as “the Bank) had agreed with the Stock Exchange to take on lease

two floors in their New Building, which is under construction, each

admeasuring 9,000 sq. ft., for the purpose of accommodating the

various Departments and offices of the Bank as set out in their letter

No. BMH,DVP,NGK,12796 dated 28.05.1980, Stock Exchange letter

dated 29.05.80 and Bank’s letter dated 04.06.80

He also stated that it was agreed that the Stock Exchange would

execute lease in respect of the 23rd floor of the said New Building in

favour of the Bank within three months and a further lease in respect

of another floor within a period of three years at the most, and for that

purpose it was necessary to execute a suitable undertaking in favour

of the Bank pending finalization of the lease documents.

He requested the Governing Board to pass the necessary resolutions

for executing the said undertaking and for such other documents as

may be required to be executed by the Stock Exchange in favour of

the Bank.

3


1. That the Stock Exchange do give on lease to the Bank the whole

of the 23rd floor and also another floor, each admeasuring 9,000

sq. ft. for the period, at the rent and upon the terms and

conditions set out in the Bank’s letter No. BHR/DVP/NGK/12796

dated 28th May, 1980 addressed to the Stock Exchange, Stock

Exchange letter dated 29th May, 1980 addressed to the Bank’s

letter dated 4th June, 1980 addressed to the Stock Exchange

which be and are hereby approved and that the same be

suitably incorporated in the draft Agreement to lease with the

draft of the dead of lease and the draft of the Agreement for

overall service and facilities (to be annexed thereto) to be

executed by the Stock Exchange in favour of the Bank when the

name is prepared and approved by the parties in the course and

that the Stock Exchange shall execute these documents when

prepared, on being requested to do so by the Bank.

2. That the Stock Exchange do execute in favour of the Bank an

irrevocable undertaking to execute a lease or separate leases in

favour of the Bank in respect of the said premises in terms of

the draft thereof which is prodused to and approved by the

Governing Board and is initialed for identification by the

President.

3. That the Stock Exchange do also execute in favour of the Bank

such other documents as may be required by the Bank to be

executed from time to time by the Stock Exchange in favour of

the Bank in a form mutually acceptable to the Stock Exchange

and the Bank and that the President be and he is hereby

authorized to approve all such documents on behalf of the Stock

Exchange.

4. That the Common Seal of the Stock Exchange to affixed to the

said documents, viz,

4

i.) Irrevocable undertaking to be give to the Bank, and

ii.) Any other documents required to be executed in favour of

the Bank,

in the presence of Laldas Jamnadas, President of the Stock

Exchange, and Jivanchand Ratanchand Motishaw , Rasiklal

Maneklal, Dhirajlal Maganlal and Jayant Amerchand, the

Trustees of the Stock Exchange.

5. And that the copy of the foregoing resolutions certified to be a

true copy by the President be furnished to the Bank and the

Bank be requested to act thereon.

5 The President reported that the Bank of India (hereinafter referred to

as “the Bank) had, at the request of the Stock Exchange, agreed to

grant to it a total advance of Rs. 125 lacs payment whereof with

interest at the agreed dates is to be secured by an equitable mortgage

of the immovable properties of the Stock Exchange situate at Dalal

Street, Bombay, as mentioned in the Bank’s letter No.

BMR/DVP/NGK/12797 dated 25.05.1980, Stock Exchange letter dated

29.05.1980 and Bank’s letter dated 04.06.1980.

He requested to the Governing Board to pass the necessary resolutions

for obtaining the said advance of Rs. 125 lacs, execution of the

documents and creation of the security in favour of the Bank.

IT WAS RESOLVED AS FOLLWS:

1 That the Stock Exchange do borrow from the Bank by way of

loan an aggregate sum of Rs. 125 lacs payable at Bombay

carrying interest of Rs.14% per annum with monthly interests

on an amount of Rs.62.50 lacs and repayable om ten years be

equated monthly installments and carrying interest @ 18% per

annum for the balance of the loan of Rs.62.50 lacs to be

5

reduced to 14% p.a. from the date Bank gets possession of the

second of the two floors agreed to be leased to it, repayment

whereof shall commence after 3 years and shall be payable

within 10 years after such repayment commences by equated

monthly installments and that the terms and conditions of the

said loan are as broadly set out in the Bank’s said letter No.

BMR/DVP/NGK/12797 dated 28.05.1980, Stock Exchange letter

dated 29.05.1980 and Bank’s letter dated 04.06.1980, and on

such other terms as may be mutually Agreed upon.

2 That the Stock Exchange do execute in favour of the Bank the

following documents vis:

i.) The Loan Agreement in respect of the entire loan of Rs.125

lacs,

ii.) Irrevocable Power of Attorney authorizing the Bank to

create a mortgage on behalf of the Stock Exchange in

terms of the drafts thereof which are produced to the

Governing Board and initialed for identification by the

President.

3 That the Stock Exchange do also execute in favour of the Bank

such other documents as may be reasonably required by the

Bank to be executed from time to time by the Stock Exchange in

favour of the Bank in a form required by the Bank.

4 That the Common Seal of the Stock Exchange be affixed to the

said documents, vis:

i.) The Loan Agreement in respect of the entire loan of Rs.125

lacs

ii.) Irrevocable Power of Attorney authorizing the Bank to

create the mortgage on behalf of the Stock Exchange,

when prepared;

In the presence of Shri. Laldas Jamnadas, President of the Stock

Exchange, and Shri Jivanchand Ratnchand Motishaw, Shri

6

Rasiklal Maneklal, Shri Dhirajlal Maganlal and Shri Jayant

Amerchand the Trustees of the Stock Exchange.

5 That Shri Laldas Jamnadas, President of the Stock Exchange,

and Shri Jivanchand Ratanchand Motishaw, Shri. Rasiklal

Maneklal, Shri Dhirajlal Maganlal and Shri Jayant Amerchand the

Trustees of the Stock Exchange, be and are hereby severally

authorized to approve and / or confirm on behalf of the Stock

Exchange any other documents that may be required by the

Bank to be executed from time to time by the Stock Exchange in

favour of the Bank.

6 That Shri, Laldas Jamnadas, President of the Stock Exchange,

and Shri Jivanchand Ratanchand Motishaw, Shri Rasiklal

Maneklal, Shri Dhirajlal Maganlal and Shri Jayant Amerchand,

the Trustees of the Stock Exchange, be and they are hereby

authorized jointly and each severally to attend as the Bank and

deposit on behalf of Stock Exchange the title-deeds of the

immovable properties belonging to the Stock Exchange

comprising the land together with existing building, the New

Building under construction and the building to be hereafter

construction situated at the junction of Dalal Street, Apollo

Street and Hamam Street with intent to create security thereon

by was of equitable mortgage for the due repayment by the

Stock Exchange of the total loan of Rs.125 lacs (to be availed of

in two loan accounts) with interested at the agreed rates and

also for any advances of any nature now due or pending or that

may be made or become due hereafter from time to time either

in the said loan account or accounts or in any other account and

for all costs (between Advocates and Clients) charges and

expenses incurred by the Bank for protection, preservation

enforcement and realization of the security and recovery of its

7

dues and so that the security so created shall be and always

remain a continuing security.

7 That the said Shri Laldas Jamnadas, President of the Stock

Exchange, and Shri. Jivanchand Ratanchand Motishaw, Shri

Rasiklal Maneklal, Shri Dhirajlal Maganlal and Shri Jayant

Amerchand, the Trustees of the Stock Exchange, be and he is /

they are hereby also authorized to assure declare to the Bank

on behalf of the Stock Exchange that it has marketable title to

said immovable properties which are to be equitably mortgage

to the Bank and that, except for the mortgage already created /

agreed to created in favour of (1) 8% Debenture Stock 1981-86

– Rs.2,00,00,000/- (2) General Insurance Corporation –

Rs.1,25,46,000/- (3) Bank of Baroda – Rs.2,45,00,000/- there

is no other mortgage, charge, lien or other encumbrance on the

said immovable properties in favour of any person, firm,

company, body corporate or society or entity and that the

Stock Exchange has not entered into any Agreement for Sale

thereof or any part or parts thereof.

8 That the said loan accounts be operated on and instructions

concerning the same may be given and any acknowledgements

or confirmations of debt and / or security which may be required

by the Bank may be executed on behalf of the Stock Exchange

by any one /two of the following persons, viz;

1 Shri Laldas Jamnadas

2 Shri Jivanchand Ratanchand Motishaw

3 Shri Rasiklal Maneklal

4 Shri Dhirajlal Maganlal

5 Shri Jayant Amerchand

9 And that a copy of the foregoing resolutions certified to be a

copy a true copy of the President furnished to the Bank and the

Bank requested to act thereon.

8

6 The application dated 23-6-1980 of Bai Sulochana Dattaram Kurup,

was considered and it was resolved to give for assistance of Rs. 1240

from Seth KRP Shroff Stock Exchnage Sarvajanik Fund for expenses of

medical treatment and post demise occurrences of our late Shri

Dattaram ……. And his.

7 The listing applications of the undermentioned companies were

considered and it was unanimously resolved that subject to the laws

Rules and Regulations and compliances with the usual requirement

and other applicable requirements stipulated by us, their below

mentioned scripts be should be placed in our list non listed securities

traded on the Exchange and their trading lots should be fixed:

1. Standard Motor Products of India Ltd. Equity &

6.5% Prefe.

2. Sujram Silk Mills Ltd. Equity

3. New Sagar Trading Co. Ltd. Equity

4. Mac Trading Co, Ltd. Equity

5. Alirt Trading Co. Ltd. Equity

6.Ankur Agencies Ltd. Equity

7. Talbross Automotive Ltd. Equity

8. Gordon Woodross Ltd. Equity

9. Lucky Agencies Ltd. Equity

10. Akash Agencies Ltd. Equity

11. Ace Trading Co. Ltd. Equity

12. Malbar Trading Co. Ltd. Equity

13 Anmol Trading Co. Ltd. Equity

14. S.B. trading & Agencies Ltd. Equity

15. Comet Filaments (India) Ltd. Equity

16. The Industrial credit and Information 7.5% Bonds

Corporation of India Limited (2000)

8 The application dated 25-06-1980 of S/Shri Nandkishore Nathumal

Mandsorwala and Chandraprakash Nandkishore Mittal was considered

9

and it was resolved to approve their partnership between the two firms

name of NN Mandsorwala with effect from 04-07-1980.

9 The Board considered the Government letter dated 02-06-1980

replying to Shri S. S. Gulati’s letter dated 31-03-1980, suggesting

modification of the share transfer form to provide for furnishing the

transferee’s folio No. be a shareholder of the company. It was

Resolved that as we are of the view that Share transfer form should be

as simple and easy as possible. We do not fevour the abovementioned

suggestions.

10 Government’s letter dated 15-06-1980 was considered and it was

resolved that we are in favour of the suggestions that if a demand

warrants does not carry the discharge of the shareholders, the amount

of such dividend warrant be paid by crediting it to the shareholders

account on the guarantee of the Bank.


1

Wednesday, 16-07-1980

A meeting of the Governing Board of the Exchange was held today at S.T.

11:30 a.m. under the Chairmanship of Shri Laldas Jamnadas wherein the



Seth V.D. Soude Seth Navinchandra Chhaganlal Kampani

Seth Mathradas Samaldas Seth Prabhudas Liladhar

Seth Arvind C. Dalal Seth Ashokkumar G. Fozdar

Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya



Government Nomonees

Shri M. K. Chawla


1. Resolved that as Shri Kailashnarayan Madanlal Parasrampuria has

failed to meet his liabilities in the market, he is declared as a defaulter.

Further resolved that the Chairman should hereafter fix and declare

the delivering rates for closing the transactions which the members

have with the defaulter Shri Kailashnarayan Madanlal Parasrampuria

for the settlement of the transactions from 08-07-1980 to 22-07-1980.

2. “RESOLVED HAT the second interest for the period ending 9th August,

1880 to 30th September, 1980 on the Fixed Deposit with us be made

payable to the depositors through Bank of India, Stock Exchange

Branch, Bombay our Current Account with them.

Further, Resolved that the signature of Mr. A. J. Shah be pre-printed

on the interest warrants and that Mr. A. j. Shah is hereby authorized

to give instructions regarding operation of the account and relating to

2

payment of the interest either in cash or by Money Order as the case

may be, on behalf of the Exchange and to sign letters of indemnity and

undertaking required by the Bank of India, for that purpose, as per the

specimen thereof produced to the Governing Board with such

alterations as may be deemed necessary.

Further Resolved that the common Seal of the Stock Exchange be

affixed to the above mentioned letters of indemnity and undertaking in

the presence of two members of the Governing Board namely Shri

Jayant Amerchand and Shri Vasantlal Kantilal Shah.

Sd/- Sd/- A.J. Shah V.K. Shah Secretary President Date: 12/08/80

1

Tuesday, 12-08-1980

A meeting of the Governing Board of the Stock Exchange was held today at ST 3:00 p.m.

under the Chairmanship of Seth Vasantlal Kantilal Shah, wherein the undermentioned

members were present:

Seth Vasantlla Kantilal. Shah Seth Jayantilal R. Khandwala

Seth V.D. Sonde Seth Navinchandra Chhaganlal Kampani

Seth Mathrdas Samaldas Seth Prabhudas Liladhar

Seth Arvind C. Dalal Seth Ashokkumar G. Fozdar

Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Raiya



Government Nominees

Shri. M.R. Mayya


1. The application dated 14-07-1980 of the Poona School and Home for the Blind

was considered and it was resolved to give it a donation of Rs. 101/-.

2. The Government’s letter dated 19-07-1980 regarding appointment of Smt.

Achuttan Saraswat, Regional Director, Company Law Board, Mumbai, as a

Government Nominee on our Board, in the place of Shri A.S. Suri, was read and

taken note of.

3. The resignation letter of Shri. R.M. Patel, Supervisor of our new Building was

read out it was resolved to accept his resignation with effect from 21-08-1980 and

pay him the sum of Rs. 3011. 30/- accumulate in his Provident Fund Account.

4. Resolved that the amount of Rs. 5,44,810/38 accumulated in the Provident Fund

Account of our late Chairman Shri P.J. Jeejibhoy and the gratuity of Rs.

1,00,000/-due to him should be paid for depositing in his bank account.

2

5. The applications for loan of our office staff members mentioned below were

considered and it was resolved to give them loans as shown against their names:

Shri. R.R. Shivalkar Rs. 5000/-

Shri. A.B. S. Nair Rs. 2500/-

6. Our Association Report for the year 1979, Income and Expenditure account and

balance sheet were passed.

7. The letter dated 17-07-1980 of S/Shri. Vasantlal Vrajlal, Ramesh Vrajlal and

Harendra Vrajlal was considered and it was resolved that the permission given to

Shri Vasantlal Vrajlal to continue the business of the late Shri Vrajlal Lallubhai

for a period of three months should be approved.

8. The letter dated 17-07-80 of Shri. Jayantilal N. Jariwala and M/s. Bhagwati

Prasad Rungta were read out it was resolved to approve the permission given to

Shri Jayantilal N. Zariwala to do business as a representative member of M/s.

Bhagwati Prasad Rungta.

9. The letter dated 26-06-1980 of Shri Viralkumar P. Parekh asking for permission

to do business in the market in his own name was considered and it was resolved

to write to him that if he wants to do business as a Representative Member of

some other member he will be given permission for that.

10. The application dated 23-06-1980 of the near relatives of the late Shri Sevantilal

Chimanlal nominating Shri Sudesh Damodarprasad as a member of the Exchange

in the place of the late Shri Sevantilal Chimanlal was considered and after

interviewing Shri Sudesh Damodarprasad Saboo and his recommenders S/Shri

Bhagwatiprasad Roongta and Bisesarlal Khandwala it was resolved by 13 votes in

favour and none against to elect Shri Sudesh Damodarprasad Saboo as a member

of the Exchange in the place of the late Shri Sevantilal Chimandas, subject to the

Rules and Regulations of the Exchange on the condition that within one month he

3

should leave Dinesh textiles and he should not do business in the market in his

own name until 2-3-82.

11. The application dated 7-7-1980 of the near relative of the late Shri Bhagwandas

Harakchand nominating Shri Pradip Rasiklal Jhaveri as a member of the

Exchange in the place of the late Shri Bhagwandas Harakchand was considered

and after interviewing Shri Pradip Rasiklal Jhaveri and his recommenders S/Shri

V B Desai and Vipul Chinubhai it was resolved by 13 votes in favour and none

against to elect Shri Pradip Rasiklal Jhaveri as member of the Exchange in the

place of the late Shri Bhagwandas Harakchand, subject to the Rules and


12. The application dated 2-5-1980 of Shri Shivkumar Jatashankar Sharma

nominating Shri Anantrai Amarsi Parekh as a member of the Exchange in his own

place was considered and after interviewing Shri Anantrai Amarshi Parekh and

his recommenders S/Shri Sureshchandra Nandlal Shah and Jayantilal C. Parekh it

was resolved by 13 votes in favour and none against to elect Shri Anantrai

Amarshi Parekh, as a member of the Exchange in the place of Shri Shivkumar

Jatashankar Sharma subject to the Rules and Regulations of the Exchange.

13. The application dated 8-7-1980 of Shri Chunilal Gogaldas Shah nominating Shri

Dushyant Dayaldas Bhakta as a member of the Exchange in his own place was

considered and after interviewing Shri Dushyant Dayaldas Bhakta and his

recommender Shri Sudhir Chandrasen Porecha it was resolved by 13 votes in

favour of and none against to elect Shri Dushyant Dayaldas Bhakta, as a member

of the Exchange in the place of Shri Chunilal Gajandas Shah, subject to the Rules

and Regulations of the Exchange on the condition that he should not do business

in the market in his own name until 30-4-81.


was unanimously resolved that, subject to the Listing Rules and Regulations as

well as Compliance with the usual requirements and other specific reguirments

4

stipulated by us, their below mentioned securities should be placed in our list of

Non-Cleared securities traded on the Exchange and their trading lots should be

fixed:

Shree Vallabh Glass Works Ltd. Equity

The Andhra Cement Co. Ltd. Equity & 6% Preference Shares

Kesorani industries and Cotton Mills Ltd. Equity 10% Prof. and 9% Prof.

11% Debenture & 7.5% Debentures

Universal Convejor Bettings Ltd. Equity and Preference

Rajsthan Glycoxal Ltd. Equity

Iptvell Refractories Ltd. Equity and Preference

Mettron Conduction Ltd. Equity

Rustogi Trading and Agencies Ltd. Equity

Fex Consultancy securities Ltd. Equity

Swaraj Trading and Agencies Ltd. Equity

Cosmo Films Ltd. Equity

Sudarshan Alluminium Industries Ltd. Equity

Nizam Papers and Board Mills Ltd. Equity

Marathwada Refrectories Ltd. Equity and Preference

Kshitij Instruments Ltd. Equity

Dolphin Investments Ltd. Equity

The Baroda Rayon Corporation Ltd. 11% Preference

15. Resolved that as the undermentioned companies have loan merged with Voltas

Limited, their securities should be removed from our list of securities traded on

the Exchange.

1. Tata Nerlyan and Grey Ltd.

2. The National Electrical Industries Ltd.

16. Resolved that the undermentioned securities should be removed from our list of

securities traded on the Exchange as they have been removed;

1. The Maysore Kirloskar Ltd. - Redeemable Preference Shares

2. The Swastik Textile Mills Ltd. 5% Pref. Shares

5

3. Mahindra & Mahindra Ltd. 6% Pref. Shares

4. Graphite India Ltd. 9.3% Pref. Shares

5. Star Textiles Engineering Works Ltd. 11% Pref. Shares

6. Bharat Steel Tools Ltd. 9.3% Pref. Shares

7. The ….. Sugar Mills Ltd. 9.5% Pref. Shares

8. Mohta Industries Ltd. 9.5% Pref. Shares

9. Bombay Suburban Electric Supply Ltd. ‘E’ class Debentures

10. The Amalgamated Electricity Supply Co. Ltd. 9 ½ % Bonds

Sd/- Sd/- A.J. Shah V.K. Shah Secretary President 16-9-1980 ………………………………………………………………………………………………

The Governing Board had passed the following resolution by a circular dated 5-9-1980.

“Resolved that for facilitating settlement, our market should be kept open for transacting

business on the undermentioned days during the time mentioned against them until 17-9-

1980 and should be kept closed for business in between the other days.”

Day Time

Saturday 6-9-1980 S.T. 12 to 1

Monday 8-9-1980 S.T. 12 to 1

Thursday 11-9-1980 S.T. 12 to 1

Friday 12-9-1980 S.T. 12 to 12:30

Tuesday 16-9-1980 S.T. 12 to 1

Sd/- Sd/-

A.G. Shah V.K. Shah Secretary President Date:16-9-1980

1

Tuesday, 16-9-1980

A meeting of the Governing Board of the Stock Exchange was held today at ST 3:00 p.m.

under the Chairmanship of Seth Vasantlal Kantilal Shah, wherein the undermentioned

members were present:

Seth Vasantlal K. Shah Seth Jayantilal R. Khandwala

Seth V.D. Soude Seth Navinchandra Chhaganlal Kampani

Seth Mattradas Samaldas Seth Prabhudas Liladhar


Seth Jayant Amerchand Seth Purshottam Gopiram Raiya

Seth Bhupendra Champaklal Seth Kirtikumar N. Parekh


Government Nominees

Shri. J. G. Gogte


1. On account of the go slow policy adopted by the staff of the members for a long time

till now, settlements of transactions in ‘A’ group and ‘B’ Group Securities have not

taken place since long and are still pending. Board deliberated on the risky situation of

the market that has arisen because of this and resolved that in view of the above the

prevailing conditions our market should be kept closed for doing business from

Wednesday 17-9-1980 to Friday 19-9-1980 for facilitating Settlement work.

2. The application dated 23-08-1980 of Indian Red Cross Society for help was


3. The application dated 11-9-80 of Shri Ashwin M. Shah of our office staff was consider

and it was resolved to give him assistance of Rs. 146/- from Seth KRP Stock

Exchange Sarvajanik Fund for college fee of the first term of Second LLB

4. The letter dated 21-8-80 of S/Shri Rasiklal Sarabhai Jhaveri and Pradeep Rasiklal

Jhaveri was read and it was resolved that Shri Pradeep Rasiklal Jhaveri had ceased to

be a partner in the partnership firm of M/s. S. D. Jhaveri from 16-8-80

5. The application for the under mentioned Partnership were considered and approved.

2

Name of the Partnership Firm Name of Partners Date of Partnership

M/s. R. P. Shroff & Sons Shri Farodose Nasarwanji Kapadia Shri Pradip Rasiklal Jhaveri

20-5-1980

M/s. Maneklal Somchand Shah Shri Maneklal Somchand Shah Shri Jitendra Maneklal Shah Shri Kirti Maneklal Shah Shri Nitin Maneklal Shah

1-8-1980

6. The Letter dated 29-8-80 of S/Shri Faredoon Nasarwanji Kapadia and Pradip Rasiklal

Jhaveri was read and iit was noted that Shri Foredoon Nasarwanji Kapadia had ceased

to be a partner in the firm of M/s. R. P. Shroff and Sons from 31-8-80

7. The letters of the under mentioned members were read and it was resolved to approve

the permission givrn for doing business as Representative Members as shown below


Shri Sureshchandra Nandlal Shah Shri Anantrai Amerish Parekh

M/s. S. D. Jhaveri M/s. R. P. Shroff & Sons

8. Our letter dated 10-9-80 to Sanjay Maintenance Service regarding entrusting to them

the cleaning and maintenance work of Basement Ground floor, mezzanines floor, and

1 to 12 floors on a monthly remuneration of Rs.4,000/- was noted and that

arrangement was approved

9. Resolved that the Security arrangement for our new building should be made

Permanent Security Services as mentioned in the following draft letter

Permanent Security Services 3/1228, Navjeevan, Lamington Road, Bombay 400 008.

Dear Sir,

Re: Security arrangements at Stock Exchange Towers, Dalal Street, Bombay,

We refer to your letter dated August, 14th, 18th, 21st and 25th 1980 and discussions your

M/s. Bedi and Menon had on the subject above.

3

We hereby confirm that proposal to entrust your firm the security aarengement at our

premises known as “Stock Exchange Towers “ at Dalal Street, Bomaby , with effect

from 22nd September, 1980 on the following terms and conditions –

We are entering the above security arrangement at the above premises purely on trial basis

for period of 3 months in terms of your performance guarantee, During the period we may

closely observe your performance and if we are satisfied, have the option to continue your

service or else we are at liberty to discontinue the same. In case we are satisfied with your

service , the security arrangement will be continue for a further period of nine

moths.Please not that if any time the service is found unsatisfactory, we will give you a

month’s notice terminate the arrangement.

The strength of security personnel to be deployed and your service charge in respect of

each category shall be as under:-

1. Security Officer A Grade Rs.900.00 p.m.

2. Security Supervisor A Grade Rs.600.00 p.m.

3. Security Head Guards A Grade Rs.450.00 p.m.

4. Security Guards A Grade Rs.350.00 p.m.

Rotation ship of 10% will be paid towards overheads supervision, uniforms, E.S.I.S. , P.F.,

Bonus etc.

Security Officer 1 for general shift = 9 A.M. to 6.p.m. on all days except Sunday

Security Supervisors 3 nos. – 1 in each shift on all days – shift timing to be fixed by you and intimated to us.

Security Head Guard 3 Nos. – 1 in each shift on all days to man the Fire Control Room.

Shift timing to fixed and intimated to us.

4

Security Guards 21 Nos. – Number in each shift on all days to be decided by you after surveying the various gates and finalized with us.

Total 28

The above rates of monthly remuneration to the various personnel will cover all charges

payable by us to your firm in respect of the full security arrangements as proposed in the

Stock Exchange Towers and your firm will be responsible for all your expenses and

outgoing in this connection including salaries, Leave represents, weekly offs, uniform,

E.S.I.S., P.F., F.P.F., Bonus, Gratuity etc., and other dues, if any, to your personnel and all

other payments and obligations you are required and responsible under the law to make

and bear on account of your personnel from time to time,

The total charges payable to you on the basis of the strength above some to Rs.12, 540/-

per month.

Your firm will be responsible to attend to all formalities in regard to E.S.I.S., P.F. and

other statutory obligations in regard to your personnel including remittances and

submission of contribution cards well time, and you will have to satisfy us that you have

paid these amounts to the department concerned

The posting of guards at various place and the timing thereof will be done by you

according to the importance of the place and you shall intimate to us about these details

from time to time. You will please note that if any additional security guards are required

at any time during the subsistence of the contract, you will arrange the same even at very

short notice, at the rates quoted above.

Personnel posted at site will necessarily be in proper uniforms duty washed and ironed.

Your personnel will have knowledge of fire fighting and routine drill will be done by you

interval of one month.

Before engaging the personnel you will submit their bio data with photograph to us with

sufficient additional nos. so that we have a choice of selection. The Head Guards, and

5

Security guards should not be less than 5 ft. 7 inches and should speak fluent Hindi and

understand and speak tolerable English.

The Stock Exchange will be giving suitable instructions from time to time and such

instructions should be strictly followed. The senior most person in your organizations

should visit the premises regularly once a day for overall supervision. The Security

Officer/Supervisor shall go round all floors every day and see that lobbies and landing are

kept clean and ensure that no posters are posted in the lift lobby areas, passages etc, and

unauthorized activities do not take place. Photography within the building is totally

prohibited.

Once you take over arrangement at the sites, you will open the following Registers to

streamline the security arrangements and also to acquaint the Management of the actual

work done by you and for futures reference:-

I.) Occurrence Register

II.) Incoming Store Register

III.) Outgoing Sore Register

IV.) Key Register with requisite columns

V.) Management Instruction Book

VI.) Attendance Register and Duty Book for your Security personnel

VII.) Any other Register required by the Management

You should ensure that no material either from Stock Exchanges or any other tenant or

Contractors is allowed to go out unless it is supported by gate pass from the concerned

authorized person.

You should ensure that a high standard of hygienic and cleanliness is maintained in the

building.

You will be entirely responsible for ensuring the safety of the Building and materials lying

within and without the Building. You are responsible to compensate to us for any losses,

thefts that may take place. The compensation is full value of the cost availed.

6

Please returns a copy of this letter duly signed by you in taken of your acceptance of the

above terms and conditions.

Thanking You,

Yours Faithfully,

Secretary,

We accept the above terms and conditions

Parament Security Services

10. The letter dated 15-9-80 of Shri H. T. Mehta advocate of Shri C. L. Khanna and the

telegram dated 15-9-80 of Shri S. L. Khanna was read and taken note of.

Sd/- Sd/- A. J. Shah Laldas Jamnadas Secretary President

Date 23-9-80

1

Tuesday, 23-9-1980


P.M. under the Chairmanship of Seth Laldas Jamnadas wherein the undermentioned


Seth Laldas Jamnadas Seth Rasiklal Meneklal

Seth V.D. Soude Seth Jayantilal B. Khandwala


Seth Mathradas Samaldas Seth Prabhudas Liladhar

Seth Arvind Chimanlal Dalal Seth Ashok Kumar G. Fozdar

Seth Jasvantlal Chhotalal Seth Purshottam Gopiram Ruiya


Seth Bhupendra Champaklal Dalal Seth Ramdas Lallubhai

Government Nominees

Shri. J. G. Gogte

The following business was transacted in the Meeting:

1. The application dated 3-9-1980 of Bai Sitabai, widow of our Late Sepoy Bhiwa

Babajirao was considered and it was resolved to give her assistance of Rs. 300/-

from Seth KRP Stock Exchange Sarvajanik Fund for post – demise ceremonies of

the Late Bhiwa Babajirao.

2. The application dated 23-6-80 of Bai Sulochana Dattaram Kurup was considered

and it was resolved that she should be paid the amount of Rs. 13893.75 being the

accumulated provident fund and gratuity due to our Late Sepoy and her husband

Dattaram Govind.

2

3. The application dated 6-9-80 of Shri R. R. Kulkarni was considered and it was

resolved that as he has left the service, the amount of Rs. 394/- accumulated in his

Provident Fund should be paid to him.

4. The applications for loans of the undermentioned members of our office staff

were considered and it was resolved to give them loans as shown against their

respective names:

Shri J. H. Purohit Rs. 2500/-

Shri T. G. Babu Rs. 2500/-

Sepoy Vilas Gyandu Rs. 3000/-

5. The application dated 11-8-80 of the near relatives of the Late Shri Ratilal Jadauji

Vora nominating Shri Bhogilal Jethalal Shah as a member of the Exchange in the

place of the Late Shri Ratilal Jadauji Vora was considered and after interviewing

Shri Bhogilal Jethalal Shah and his recommenders S/Shri Kantilal Bhogilal Shah

and Vinaykant Narbheram it was resolved by 14 votes in favour and none against

to elect Shri Bhogilal Jethalal Shah as a member of the Exchange in the place of

the Late Shri Katilal Jadauji Vora, subject to the Rules and Regulations of the

Exchange.

6. The application dated 21-8-80 of the near relatives of the late Shri Manubhai

Chimanlal Virchand nominating Shri Shyamlal Thakardas Dalal as a member of

the Exchange in the place of the Late Shri Manubhai Chimanlal Virchand was

considered and after interviewing Shri Shyamlal Thakardas Dalal and his

recommenders S/s Dhirajlal Maganlal and Champaklal Jamnadas it was resolved

by 14 votes in favour and none against to elect Shri Shyamlal Thakardas Dalal as

a member of the Exchange in the place of the late Shri Manubhai Chimanlal

Virchand, subject to the Rules and Regulations of the Exchange.

3

7. The application dated 1-9-80 of the near relatives of the Shri Arunkumar

Jagmohanlal Rungta nominating Shri Kantilal Mohanlal Shah as a member of the

Exchange in his own place was considered and after interviewing Shri Kantilal

Mohanlal Shah and his recommenders S/Shri Manubhai Mohanlal and

Vinaychandra Narbheram Parekh it was resolved by 14 votes in favour and none

against to elect Shri Kantilal Mohanlal Shah as a member of the Exchange in the

place of Shri Arunkumar Jagmohanlal Rungte, subject to the Rules and


8. The application dated 18-8-80 of the Shri Rameshchandra Trikamlal nominating

Shri Shripal Jain as a member of the Exchange in his own place was considered

and after interviewing Shri Shripal Jain and his recommenders S/Shri Chand

Ratan Bagri it was resolved by 12 votes in favour and 2 against to elect Shri

Shripal Jain as a member of the Exchange in the place of Shri Rameshchandra

Trikamlal, subject to the Rules and Regulations of the Exchange on condition that

he should not do business in the market in his own name for a period of 2 years

and that within one month he should severe his connections with Delhi Stock

Exchange.

Shri Bhupendra Champaklal joined the meeting at this point of time.

9. The Listing applications of the abovementioned Companies were considered and

it was unanimously resolved that subject to the Listing Rules and Regulations as

well as compliance with the usual requirements and such other special

requirements stipulated by us, their below-mentioned securities should be placed

in our list of non – cleared securities traded on the Exchange and their trading lots

should be fixed.

Revathi – CP Equipments Ltd Equity and Preference Shares

Kelvinator of India Ltd Equity

Concast Products Ltd Equity

4

Rewa Drugs and Chemicals Ltd Equity

Deccan Fibre Glass Ltd Equity

Ind-Trade Fibre Company Ltd Equity

Paushak Ltd Equity

Tata Engineering & Locomotive Company Ltd 11% Convertible Bonds ‘B’ Series

10. Unanimously resolved that British Burma Petroleum Co. Ltd. has been

amalgamated with Prism Trading Co. Ltd., the shares of British Burma Petroleum

Co. Ltd. should be removed from our list of securities traded on the Exchange.

11. Unanimously resolved that below-mentioned securities should be removed from

our list of securities traded on the Exchange as they have been redeemed

Aditya Mills Ltd Preference Shares

Chemicals & Plastics India Ltd. 9.5% 15000, ‘A’ Preference Shares

12. Unanimously resolved that, as the undermentioned Companies have not yet paid

the Annual Listing fees for the year 1980 and for the additional listing fees for the

year 1979 though repeatedly asked, their securities should be removed from the

list of securities traded on the Exchange, if they do not pay their fees due by them

before 23-10-1980.

1. Andhra Steel Corporation Ltd

2. Behar Hotels Ltd

3. Basant Paper Mills Ltd

4. Estrilla Batteries ltd

5. Ellora paper mills Ltd

6. Gangavati Sugar mills Ltd

7. Kanora Hancock Sanderson Ltd

8. Khandelwal Hermon Electronics Ltd

9. Kumar Bronze Powders ltd

5

10. Madras Machinetool Manufacturs Ltd

11. Bharti Crystal Salt Co. Ltd

12. Magnesite and Minerals Ltd

13. New Commercial investment & Trading Co. Ltd

14. North Behar Sugar Mills Ltd

15. Ogle Glass Works Ltd

16. Polson Ltd

17. Regal Papers Ltd

18. Ramacast Ltd

19. Shri Krishna Gyanodaya Sugar Ltd

20. Sika Breweries Ltd

21. Steel and Fasteners Ltd

22. Asian Electronics Ltd

23. Centron Industrial Alliance Ltd

24. Indo National Ltd

25. Jupiter Breweries Industries Ltd

13. The application dated 4-7-80 and 1-1-80 of the officers of our office staff asking

for giving them extra increments and leave travel benefits and medical expenses

in view of the rise in the cost of living expenses since 1-1-1978 have considered

and it was resolved that each of our officers who have been on our staff earlier

than 1-1-1980 should be given one extra increment in their grades from 1-1-1980

and additional increment from 1-1-1981 to such officers other than our secretary

Shri A. J. Shah and the Chief Statistical Officer Shri R. R. Nair.

Further resolved that every officer on our staff should be paid actual medical

expenses from the year 1980, subject to the limit of Rs.400/- p.a. and when going

leave, travel expenses for going out of Bombay, subject to the limit of Rs.400/-

p.a. such expenses will paid every year at the end of year.

6

14. Resolved that, pursuant to the Resolution passed by the Governing Board on 18-

2-71 and 10-8-78 our Secretary Shri A. J. Shah and Chief Statistical Officer Shri

R. R. Nair are paid expenses for using their own motor cars for office work,

which should be increased to Rs.475/- per month and Rs.400/- per month

respectively from 1-1-1981.

Sd/- Sd/- A. J. Shah Laldas Jamnadas Secretary President

Dt: 4-11-1980

The Governing Board has passed the following resolution by circular

“Resolved that on Friday, 7-11-80 our market should be kept open from S.T. 5.15 PM to

6.15 PM for doing Muharat Transactions for Kartik Vikram Samvat 2037, instead of

from S.T. 12 to 2 PM.

Further resolved that the market should be completely closed for all kinds of business on

Thursday 6-11-80 on account of the holiday of Kali Chaudas on that day.”

Sd/- Sd/- A. J. Shah Laldas Jamnadas Secretary President Dt: 4-11-80

1

Tuesday: 11-11-80


p.m. under the Chairmanship of Seth Laldas Jmnadas wherein the under mentioned


Seth laldas Jmnadas Seth Bhupendra Champaklal Dalal

Seth V. D. Sonde Seth Jayantilal R. Khandwala

Seth Mathradas Samaldas Seth Navinchandra Chhaganlal Kampani

Seth Jayantilal Chhotalal Seth Ashokkumar G. Fozdar

Seth Jayant Amerchand Seth Purshottam Gopiram Ruia


Government Nominees Shri. J. G. Gogte


1. The application for partnership of S/Shri Venushankar Damodar Vyas and Lalitkant

Venulal Vyas dated 5-11-80 was considered and it was resolved to approve the

partnership between them under the name of M/s. V. D. Vyas with effect from 14-

11-80

2. The application dated 10-10-80 of the close relatives of the late Shri. Vrajlal

Lallubhai nominating Shri Vasantlal Vrajlal Dalal as a member of the Exchange in

the place of the late Shri Vrajlal Lallubai was considered and after interviewing Shri

Vasanlal Vrajlal Dalal and his recommenders S/Shri Mannubhai Maneklal and

Vinaychandra Narbheram Parekh it was resolved by 11 votes of in favour and none

against to elect Shri Vasantlal Vrajlal as a member of the Exchange on the place of

late Shri Vrajlal Lallubhai, subject to the Rules and Regulations of the Exchange.

3. The Listing application of the under mentioned Companies were considerd and it

was unanimously resolved that subject to the Rules and Regulations of the

Exchange as well as compliance with the usual requirement and such other special

requirement as may be stipulated by us, the below mentioned securities should be

placed in our list of securities traded on the Exchange and their trading should be

fixed

I.) Banswar Textile Mills Ltd Equity

II.) Alkyal Amines Chemicals Ltd. Equity

III.) Gangappa Papers Mills Ltd. Equity

Sd/- Sd/- A. J. Shah Seth Laldas Jmnadas Secretary President

Date: 5-12-80

1

Friday, 5-12-80

A meeting of the Governing Board of the Stock Exchange was held today at

ST 3:00 p.m. under the Chairmanship of Seth Laldas Jamnadas wherein the


Seth Laldas Jmnadas Seth Bhupendra Champaklal Dalal

Seth V. D. Sonde Seth Jayntilal R. khandwala


Seth Mathradas Samaldas Seth Ashok kumar G. Fozdar

Seth Arvind Chimanlal Dalal Seth Purshottam Gopiram Ruia



Government Nominee

Shri J G Gogte

The following business was transacted in the meeting.

1. The Chairman informed the Board that in the settlement to be carried

out on 18-11-1980 there were mistakes in many kinds of shares in the

number of shares to be delivered and the number of shares to be

taken delving by the members and have many auctions have to be

made. Looking into only the list of century shares there is a

discrepancy of about 2500 shares and if these are auctioned the Stock

Exchange will have to bear a loss of more than Rs. One Lakh because

of mistakes in the List submitted by the members auction in large

number have been required to be made for a long time and the

auction loss has run into lacs of rupees. In the case of some few

members in whose list discrepancies are frequently found they were

called and asked to submit check list and mistakes of 1100-1200

shares were corrected and mistakes of 1300-1400 shares still remain.

2

For that list have been called from the members but have not been

received yet because of non co operation of their staff. It is necessary

to take steps to get rid of the causes of their non co operation and

receive the list urgently so that the remaining discrepancies can be

found out. In the meantime the market should be kept closed. Heavy

penalty should be imposed on those members in whose cases mistakes

have already been found and have been committing mistakes

frequently. However penalties should be imposed on those members

whose mistakes are found out after their list is received now hereafter.

This it is necessary so that members may be more careful and large

mistakes are not found out from their lists.

Thereafter Board deliberated on what the Chairman had said as above

and it was resolved that the undermentioned members should be

penalized at the rate of Rs. 50/- per equity shares for the

mistakes found in their list for the settlement for 18-11-1980 the

total amount of penalty by each of the consent member has been

shown against their name;

M/s. K Motiram Vakil Rs. 31,500/-

M/s. Kantilal Chhaganlal Rs. 23,500/-

M/s. Jaykishan Bohra Rs. 7750/-

Further resolved that if discrepancies are found now in any of the list

called for from the members by notice No. 2687/80 dated 29-11-1980,

the concerned members should be charged penalty of Rs. 70/- per

share these over and above the auction loss and if list have to be

called in the settlements following the settlement of 18-11-1980

because of discrepancies and mistakes are found out therefrom more

heavier penalty should be charged from that mentioned above.

2. Resolved that a notice as under should be issued;

3

“All the members are hereby informed that in the settlement of 18-01-

1980 by red and Blacks forms in the case of the shares of Country

Eka, JK Synthetics and Nirlon there are discrepancies in the

numbers of shares to be delivered and of the shares to be taken

delivering of. The members should therefore should prefer lists of

these share in forms printed in red ink and send it the Secretary’s

office by 2:00 p.m. on Monday, 8-12-1980. In these lists clearing

numbers of the members from/to whom such shares have been

purchased/ sold and the members of such shares should be filled up in

English. It is not necessary to fill up the precise of the shares. But

after deducting the total number of shares purchase/sold from the

total number of shares of the same kind sold/purchase from/to the

same members, the number of only the not purchase/sold of the

shares should be filled. For example, if 25 Nirlon shares have been

sold to brokers ‘A’ and 20 Nirlon shares have been purchased from

him, then after making deduction sale of only 5 Nirlon Shares should

be shown against his name. If any member fails to submit his

abovementioned list in time rightly filled up as explained above, a

penalty of Rs. 1001/- will be released from him by debiting his

account.

Comparison memos relating to the transactions shown in shares list

will be given to the members on Tuesday, 9-12-1980. The members

should compare those transactions with their opposite parties and

after settling the obligations in the usual members as is done in the

case of objections in other shares, should give back to the Secretary’s

office on Thursday, 11-12-1980. If any member fails to return the

comparison memos in time after correcting them as above, then as

mentioned in the above notice in addition to the auction loss of the

shares in objection, penalty of the equal amount of the loss will be

released from him and harsh action will be taken against him.

4

3. After taking note of the present market situation that has developed

because of the very big auction necessitated by big mistakes in the

memners lists for 18-11-1980 settlement, its risk delaying tactics on

the part of members’ staff in sending such lists called from finding out

mistakes. Resolved that our market should be kept closed for business

on Saturday, 6-12-1980 Monday, 8-12-1980 and Tuesday 9-12-1980.

Sd/- Sd/- A J Shah Laldas Jamnadas Secretary President

Date: 11-12-1980

1

Thursday: 11-12-80

A meeting of the Governing Board of the Stock Exchange was held on today at S.T. 4.00

p.m. under the Chairmanship of the Seth Laldas Jmnadas, wherein the under mentioned


Seth Laldas Jmnadas Seth Jayantilal R. Khandwala

Seth V. D. Sonde Seth Navinchandra Chhaganlal Kampani

Seth Vasantlal Kantilal Shah Seth Prabhudas Lilladhar

Seth Mathradas Samaldas Seth Ashok kumar G. Fozdar

Seth Arvind Chimanlal Dalal Seth Purshottam Gopiram Ruia



Government Nominees

Shri. M. K. Chawla

The following Business was transacted in the meeting:

1. The present market situation was considered

2. The Chairman gave a brief account of and acquainted the Board with the business

considered in the meeting of the standing committee of Presidents of recognized Stock

Exchanges hold in Hyderabad on 28th and 29th November, 1980.

Sd/- Sd/- A. J. Shah V. K. Shah Secretary President

Date: 16/12/80

1

Thursday, 16-12-80 A meeting of the Governing Board of the Stock Exchange was held today at S.T. 3.00 p.m. under the Chairmanship of Seth Vasantlal kantilal Shah, wherein the under mentioned members of the Board were present : Seth Vasantlal Kantilal Shah Seth Jayantilal R. khandwala

Seth V. D. Sonde Seth Navinchandra Chhaganlal Kampani

Seth Mathradas Samaldas Seth Prabhudas Lilladhar





Government Nominees:

1. Shri M.R. Chawla 2. Shri G. G. Gogte

The following business was transacted at the Meeting: 1 The application dated 12-12-80 of our office staff member Shri Ashwin M. Shah

was considered and it was resolved to give him college fee of Rs. 142/- for the Second Term of the Second L.L.B. from Seth KRP Shroff Exchange Sarvajanik Fund.

2. The application dated 11-11-80 of our Sepoy, Vilas Gyandere was considered and it

was resolved to give him College fee of Rs. 166/- for the First Term of Forst L.L.B. from Seth KRP Shroff Exchange Sarvajanik Fund.

3. The application dated 8-12-80 of our office Sepoy, Raghunath Krishnaji was

considered and it was resolved to give him a loan of Rs. 4000/- 4. The application dated 11-11-80 of Shri Vasantlal Vrajlal and Shri Kantalal Mohanlal

Shah for partnership was considered and it was resolved to approve their partnership under the Firm name of M/s V. Vrajlal Lallubhai with effect from 14-11-80.

5. The letters dated 13-11-80 of Shri Jayant Amarchand and Bhogilal Jethalal Shah

were read and it was resolved to approve the permission given to Shri Bhogilal Jethalal Shah to do business as a Representative Member of Shri Jayant Amerchand.

6. The Association holidays for the year 1981 were fixed. 7. The letter dated 12-12-80 of M/s Mannbhai & Co. was read and it was resolved that

the office that has been given or the office that we gave to them hereafter should be transferred into their name and its Rent Note should be issued to them.

2

8. The application dated 23-10-80 of Shri Prabhakar Shrilal Yagnik nominating Shri Kirtikumar Fulchand Vora as a member of the exchange in his own place was considered and after interviewing Shri Kirtikumar Fulchand and his recommender S/Shri Ramaniklal Nanalal Shah and Chhotalal Devchand it was resolved by 10 votes in favour and one against to elect Shri Kirtikumar Fulchand Vora as a member of the Exchange in the place of Shri Pratikar Sharilal Yagnik, subject to the Rules and Regulations of the Exchange, on condition that he will not do business in the market in his own name for a period of two years.

9. The application dated 30-10-1980 of Shri Champaklal Babubhai Marfatia

nominating Shri Ram Champaklal Marfatia as a member of the Exchange in his own place was considered and after interviewing him and his recommender S/Shri B H Zaveri and K C Vakharia , it was resolved by 11 votes in favour and none against to elect Shri Ram as a member of the exchange in the place of Shri Champaklal Babubhai Marfatia, subject to the rules and bye laws of the exchange.

10. The application dated 24-11-1980 of Shri Durgashankar Udayram Shukla

nominating Shri Maheshkumar Durgashankar Shukla as a member of the exchange in his own place was considered and after interviewing Shri Maheshkumar Durgashankar Shukla and his recommender Shri Vipin Chinubhai it was resolved by 11 votes in his favour and none against to elect Shri Maheshkumar Durgashankar Shukla as a member of the Exchange in the place of Shri Durgashankar Udayram Shukla, subject to the Rules and Regulations of the Exchange.

Shri Bhupendra Champaklal came and joined the meeting at this moment of

time. 11. As the undermentioned companies have paid the annual listing fees for the year

1979, it was unanimously resolved to re admit their securities to our list of securities traded on the Exchange.

i.) New commercial Trading and Investment Co. Ltd. ii.) Khandelwal Harmann Electronics Ltd. iii.) Basant Paper Mills Ltd.


was unanimously resolved that subject to the Listing Rules and Regulations as well as compliance with the usual requirements and other special requirements stipulated by us below mentioned securities should be placed in list of securities traded on the Exchange and their trading lots should be fixed:

Mahi Trading and commence Ltd. Equity Shiva Papers Mills limited. Equity Rama Filters Equity Karni Manek Trading Co. Ltd. Equity Shree Andhra Prabha Oil and Chemical Industries Ltd. Equity L D textiles Industries Ltd. Equity Kankaria Chemicals Ltd. Equity

Jayakwadi Pulp and Paper Mills Ltd. Equity&11%Prefarance Shares

3

13. The letter dated 21-11-1980 and 5-12-1980 of the Scottish Assam (India) Ltd. Tube

Suppliers Limited respectively were considered and it was unanimously resolved to remove their securities from our list of securities traded on the Exchange with effect from 1-1-1981.

14. The letter dated 25-11-1980 of the Vietora Mills Limited was read out and it was

unanimously resolved to remove its 5.72% Redeemable Cumulative Preference shares from our list of securities trade on the Exchange as they have been redeemed.

15. Resolved that our computation equipment should be sold to the Stock Exchange

Foundation at a reasonable price. 16. Resolved that a sum of Rs. 1,50,000/- should be given from the Stock Exchange

Education and Reserve Securities Fund to the Stock Exchange Foundation, which has been recognised under section 35(1)(3) of the Income Tax Act, on the condition that it will be considered as its corpus.

17. Taking into consideration the manyfold increase in paper price and printing cost

during the last few years resolved that the Daily Official List which was being given free of cost to the members of the exchange one copy each till now should be discontinued from 1-1-1981 and instead every member will be entitled to get one copy of the Daily Officials List at a concession annual subscription of Rs. 200/- instead of the regular annual subscription of Rs. 300/- p.a.

18. Resolved that remisier badges should be cancelled and issue of remisier badges

should be stopped with effect from 1-1-1981. Sd/- Sd/- A J Shah Laldas Jamnadas Secretary President

Date 15-01-1981

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