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Khandwala Securities Ltd. Company History and Annual Growth Details

YEAR EVENTS
1993 - The Company was incorporated as Khandwala Securities Private
Limited on February 9. The Company later became a deemed public
limited company on July 1, 1995 under the provisions of section
43(1A) of the Companies Act, 1956.

- The Company was promoted in February, by M/s. Jayantilal
Khandwala & Sons and Mr. Samir S. Doshi.

- In July, the Company was accredited by SEBI as a category I
Merchant Banker and commenced offering a diverse range of
financial services.

- The Company obtained membership of the National Stock Exchange,
both in the wholesale debt and capital market segments and has
also obtained Sponsor Membership of the Over The Counter Exchange
of India.

1994 - The Equity shares of the Company of face value of Rs 100 each
were subdivided into equity shares of Rs 10 each on May 10. The
issued, subscribed & paid-up capital is divided into 4,810,000
No. of Equity Shares of Rs 10 each, fully paid-up which includes
787,500 No. of Equity Shares of Rs 10 each, issued as fully
paid-up bonus shares.

- The Company has one wholly owned subsidiary - Khandwala Finances
Limited, which is engaged in the business of stock broking.

1995 - The Company has issued and allotted 1,40,000 - 13.5% Cumulative
Redeemable Preference Shares of face value of Rs 100 each for an
aggregate value of Rs 140 lacs. The preference shares are
redeemable at par at the end of 3 years from the date of
allotment.

1997 - The credit rating of 'FA+' assigned to the FD programme of the
Company was re-affirmed by CRISIL during the year.

1998 - The Company is constantly reviewing its positioning in this
dynamic environment with the objective of locking into high
growth and potentially profitable opportunities.

- The Company is not engaged in any manufacturing activity and
therefore, there are no particulars to be disclosed under the
Companies (Disclosure of Particulars in the Report of Board of
Directors) Rules, 1988 relating to conservation of energy or
technology absorption.

- The Company has, however, accepted other regulated deposits,
namely, Inter-Corporate Deposit (ICD), as per NBFC (RBI)
Directions, 1977 and has repaid or renewed the same as the case
may be, on due dates and no amount remains unclaimed or unpaid as
on the last date of the financial year.

1999 - The Union Budget for the fiscal year 1999-2000, abolished stamp
duty on secondary market debt transactions, routed through a
depository.

- On July 8, was a red letter day in the history of the Indian debt
markets with the introduction of interest rate swaps and forward
rate agreements, derivative tools in the fixed income markets.

- Khandwala Securities Ltd (KSL), one of the oldest broking firms
on the BSE, is planning to set up an Asset Management Company.
The AMC will be launching about 3 schemes initially. These
include growth fund, balanced fund and pure debt fund.

- KSL currently has over 3,500 domestic and 700 overseas clients
with over Rs 1,700 crore of funds under management.

- During the year the company redeemed 17.5% Secured
Non-Convertible Debentures aggregating Rs. 5.201 million. The
company also redeemed 13.5% Cumulative Redeemable Preference
Shares worth Rs. 14.00 million.

- The company has issued 12.5% Cumulative Redeemable Preference
Share worth Rs. 5.00 million and 12% Cumulative Redeemable
Preference Shares worth Rs. 14.00 million.

2002-Khandwala Securities Ltd has informed BSE that Ms Hoofrish Patel has resigned as Company Secretary of the company wef October 09, 2002.

2004

- Khandwala Securities Limited has informed that Mr. Rohit Chand, Additional Director vide his letter dated May 05, 2004, has tendered his resignation with immediate effect from the BoD's of the Company
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