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Tuesday, 2-2-1971. a Meeting of the Governing Board of the Stock

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Tuesday, 2-2-1971. a Meeting of the Governing Board of the Stock 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., Notice No:110/71 dt. 22-1-71 Co.Ltd. 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 16-4-71 7-5-71 28-5-71 18-6-71 day and the badla day Comparison day 19-4-71 12-5-71 31-5-71 21-6-71 and the Clearance day 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.
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