|The Company was incorporated as a private limited company on 30th January 1986 in the name of J M Share & Stock Brokers Pvt. Ltd. The Company has been promoted by JMFICS to engage directly or indirectly in the business of share and stock broking, finance broking, underwriting of securities including shares, debentures, etc. The present issued, Equity Share JMFICS and, therefore, by virtue of Section 4 of the Act, the Company is a subsidiary of JMFICS. On JMFICS becoming a deemed public limited company by virtue of the Companies (Amendment) Act, 1988 read with the Companies Act, 1956, on 15th June, 1988, the Company
also became a deemed public limited company as of that date pursuant to the applicable provisions of the Companies Act, 1956. Subsequently, the Company became a public company by making necessary alterations in its Articles of Association.
As stated earlier, the main object of the Company is to enlarge directly or indirectly in the business of share and stock broking, and other related capital market activities such as underwiting of securities and Portfolio Management. To act as a stock broker, it is necessary for a company to be a member of a stock exchange. Under the guidelines issued by the Government of India, corporate entitles are permitted to be enrolled as members of a stock exchange, provided.
i) that the Company is formed in compliance with the provisions of Section 322 of the Companies Act, 1956;
ii) that a majority of Directors of the Company are shareholders of the Company and also members of the Stock Exchange; and
iii) that the Directors of the Company who are members of the Stock Exchange have unlimited liability in the Company.
Since the Company is not in a position to comply with the aforesaid conditions, it has been proposed that the Company would carry on its share and stock broking activities through a number of affiliates (Stock Broking Companies/Partnership Firms/Individual Stock Brokers) who would be members of various Stock Exchanges.
-JM Financial launches a private equity fund
- JM Financial Ltd has informed that the Board of Directors of the Company has decided to appoint Mr. Paul Sebastian Zuckerman as an additional director on the Board of the Company. Mr. Zuckerman will be an independent director of the Company.
-The Company has issued Bonus Shares in the Ratio of 3:2.
- The Company has splits its face value from Rs10/- to Rs1/-.