SUGAL & DAMANI SHARE BROKERS LTD (Formerly known as SUGAL & DAMANI
FINLEASE LTD) was incorporated on 7th May, 1993. It was entitled to commence business
w.e.f. 17th May, 1993.
The name of the Company was changed from Sugal & Damani Finlease Limited to Sugal &
Damani Share Brokers Limited vide fresh certificate of incorporation dated 23/12/2008 issued
by the Registrar of companies, Chennai, Tamil Nadu.
AMALGAMATION & CHANGE IN BUSINESS ACTIVITY
The Scheme of Amalgamation of Sugal & Damani Share & Stock Brokers Private Limited,
Sugal & Damani Securities (Madras) Private Limited and Sugal & Damani (Chennai) Share
Broking Limited with the Company was approved by the Shareholders of the Company at the
Court Convened Meeting held on 16/02/2008.
The Hon'ble High Court of Madras sanctioned the Scheme of Amalgamation with 01.04.2007
as appointed date vide its order dated 12.09.2008.
The Amalgamation Scheme has been implemented and the Company's main business
activities are Share broking, DP activity and Portfolio Management Services.
In view of the Amalgamation, the Company altered the main objects clause of the
Memorandum of Association vide Special Resolution dated 28.07.2007 passed by Postal
Ballot and removed existing clauses relating to fund based activity.
PRESENT CAPITAL STRUCTURE OF THE COMPANY
The Company was incorporated with an authorized capital of Rs. 25 lakhs and later it was
increased to Rs. 700 lakhs. On amalgamation, the Authorised capital was increased to Rs.
9,05,00,000/- as per the Order of the High Court of Madras. The paid up capital of the
Company was increased from Rs. 300 lakhs to Rs. 6,25,00,070/-. The shares are listed on
Bombay Stock Exchange and Madras Stock Exchange.
The Company has been promoted by the reputed group "SUGAL & DAMANI". "Sugal &
Damani" group is headed by Sri. N. Sugalchand Jain and Sri. G.N. Damani. The group
consists of leading lottery organizers based at various places in India and has varied
interests in property and farm development, tourism, share broking, commodity broking, dye
chemicals manufacturing and trading. The Group's turnover exceeds Rs.10,000 crores. The
Company's Executive Directors v.i.z., Shri.S.Vinodh Kumar Jain and Shri.Mahesh Chandak, have rich experience in Share Broking and Commodity Broking business. The
other directors of the Company have a very rich experience in different fields such as Law, Taxation, Finance and Management consultancy, Textiles and also possess all round
exposure which is essential for the progress of the company.