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We do firmly believe that we will consistently sustain and improve Returns on Investments made by our investors through our consistent pursuit of opportunity, objectives and service excellence.
Burmah-Shell Refineries Limited (BSR), was incorporated on 3.11.1952 as a Company under the Indian Companies Act, 1913, at Mumbai, with the Authorised Capital of Rs.25 crore. A refinery was set up by this Company at Mahul, Mumbai. Secondly, the Burmah Shell Oil Storage & Distributing Company of India Ltd. (BSM), a foreign Company, established in England in 1928, was carrying on in India the business of Distributing & Marketing petroleum products & for that purpose established places of business at Mumbai & other places in India.
Pursuant to the agreement dated 23.12.1975 between the Government of India (GOI), the Burmah-Shell Oil Storage and Distributing Company of India Ltd. (BSM) and the Burmah Shell Refineries Ltd. (BSR), the GOI acquired 100 per cent equity share holding (paid up value Rs. 1453.83 lakhs) of BSR on 24.01.1976, for a consideration of Rs. 925 lakh. Simultaneously, through 'The Burmah Shell acquisition of Undertakings in India Act, 1976’, the GOI also acquired the right, title and interest and liabilities of BSM in relation to its undertakings in India for a consideration of Rs. 2775 lakhs and by notification dated 24.1.76, vested the same in BSR without any specific consideration payable by BSR. The name of BSR was changed to Bharat Refineries Limited (BRL) and subsequently to Bharat Petroleum Corporation Limited.
Out of the total investment of Rs. 3700 lakhs (Rs.925 + 2775 lakhs) made by the GOI as stated above, the Government treated an amount of Rs. 1128 lakhs as a repayable loan to BPCL. The net investment made by the Government thus amounted to Rs. 2572 lakhs (Rs.3700 - 1128 lakhs). In January 1984, the GOI made further investment of Rs. 203.57 lakhs in BPCL towards payment of Partly Paid Equity Shares bringing the paid up capital to Rs. 1657.40 lakh (1453.83 + 203.57 lakhs).
Subsequently, during 1985-86, the reserves of BPCL to the extent of Rs. 1127.94 lakhs were capitalised for making Partly Paid shares as Fully Paid shares, as also to Issue bonus shares to the GOI. Thus the paid up capital was increased to Rs. 2785.34 lakhs without further investment by the GOI. Again in 1990, the Reserves of BPCL to the extent of Rs. 2214.66 lakhs were capitalised to issue Bonus Shares to the GOI and thereby increased Paid Up Capital to Rs. 50 crores without further investment by the GOI.
Thus, with the investment of Rs. 2775.57 lakhs (i.e. 2572 lakhs +203.57 lakhs), the GOI’s holding in BPCL increased to Rs. 50 crores (i.e. 5 crores equity shares of Rs. 10/- each).
Out of the above, the GOI sold 1.5 crores equity shares of Rs. 10/- each to Financial Institutions/Mutual Funds etc. during 1991-92 and 1992-93 and 18,99,990 equity shares to employees during 1993-94. For the above disinvestment the GOI received about Rs. 680 crores. As a result of the above disinvestments the Share holdings of the GOI in the Corporation was reduced to 3,31,00,010 shares (66.20%) as on 31.3.1994.
During 1994, BPCL declared Bonus shares in the ratio of 2:1 by way of capitalisation of reserves to the extent of Rs. 100 crore. The GOI, therefore, received 6,62,00,020 Bonus Equity Shares of Rs. 10/- each. Accordingly, GOI’s holding increased from 3,31,00,010 shares of Rs. 10 each to 9,93,00,030 equity shares of Rs. 10/- each amounting to Rs.99,30,00,300/-.
During 2000-01, BPCL declared Bonus shares in the ratio of 1:1 by way of capitalisation of reserves to the extent of Rs. 150 crores. The GOI, therefore, received 9,93,00,030 Bonus Equity Shares of Rs. 10/- each.
Accordingly, GOI’s holding increased from 9,93,00,030 shares of Rs. 10 each to 19,86,00,060 equity shares of Rs. 10/- each amounting to Rs.198,60,00,600/- as on 31.3.2008. Pursuant to the merger of Kochi Refineries Ltd. with BPCL, vide Order dated 18.8.2006 from Ministry of Company Affairs, the total paid up share capital of BPCL had increased to 36,15,42,124 equity shares of Rs. 10 each and the percentage of shareholding of the GOI has reduced from 66.20% to 54.93%.
Members of the Audit Committee of the Board:
1. Shri Rajesh Mangal, Chairman of the Committee- Independent Director,
2. Shri Deepak Bhojwani, Independent Director, and
3. Shri Gopal Chandra Nanda, Independent Director,
4. Shri Vishal V Sharma, Independent Director.
Members of the Nomination and Remuneration Committee of the Board:
1. Shri Deepak Bhojwani, Chairman of the Committee- Independent Director,
2. Shri Gopal Chandra Nanda, Independent Director, and
3. Shri Anant Kumar Singh, Government Nominee Director,4. Shri Vishal V Sharma, Independent Director.
Members of the Stakeholders Relationship Committee of the Board:
1. Shri Gopal Chandra Nanda, Chairman of the Committee- Independent Director, and
2. Shri P Balasubramanian, Director (Finance).
Members of the Risk Management Committee of the Board:
1. Shri Rajesh Kumar Mangal, Chairman of the Committee- Independent Director,
2. Shri P. Balasubramanian, Director (Finance),
3. Shri R. Ramachandran, Director (Refineries),
4. Shri S Ramesh, Director (Marketing).
Members of the Corporate Social Responsibility Committee of the Board:
1. Shri Rajesh Mangal, Chairman of the Committee- Independent Director,
2. Shri P. H. Kurian, Government Nominee Director,
3. Shri Anant Kumar Singh, Government Nominee Director,
4. Shri S. P. Gathoo, Director (Human Resources), and
5. Shri P. Balasubramanian, Director (Finance).
When the shares are held in single name and the holder expires, the title to the shares would be transmitted to the successors or beneficiaries under a Will. If you are a successor or a beneficiary as above, please submit the share certificate alongwith the succession certificate or probate of the Will (or letter of administration in case you are an administrator) for getting the shares transmitted.
Deletion of name
When the shares are held in Joint names and one of the Shareholders expires, please send the certified copy of the Death certificate along with the share certificates. Based on the supporting documents, the Company can delete the name of the deceased Shareholder from the records and make endorsements on the share certificates showing the remaining Shareholders.
Transposition/Adding names, if you hold shares jointly with another person and desire to change the serial order of the names, please send your request in writing duly signed by all the joint holders, along with shares certificates, in case the transposition is required for the entire holdings under the relevant folio. If you require transposition of names in respect of part holding under a folio, you would need to execute a transfer deed for the part holding in favour of the holders with changed serial order of the names.
For change of single holdings into joint holdings, you would need to execute transfer deed in the normal course.
The request for change of address should be made in writing quoting the folio number. Your signature (first named Shareholder in case of joint holders) appearing in such request should be as per the specimen signature recorded with the company.
If you have more than one folio in one name or with identical names in the same order in case of joint holdings, please inform us in writing along with the relevant share certificates so that we will be able to consolidate such holdings in a single folio.
In order to protect your interest against any fraudulent interception and encashment of your dividend warrants, we advise you to provide us the name of your bank, branch and the account number which will enable us to incorporate the same in your dividend warrants. Under section 205A of the Companies Act, 1956, unpaid dividend is required to be transferred by the Company to the Fund known as Investor Education & Protection Fund constituted under Section 205C of the Companies Act after the expiry of 7 years from the date of transfer to the special "Unpaid Dividend Account" of the company.
BPC has been sending reminder letters to the Shareholders whose dividend remains unclaimed before transferring it as stated above. It is suggested that if you have any unclaimed dividend, please write to BPC or its R&T Agents, with full details alongwith indemnity which will enable us to take appropriate action for issuing duplicate dividend warrant.
ISecurities and Exchange Board of India (SEBI) has made it mandatory for all companies to use the Electronic Mode of Remittance for payment of dividends. You may be aware that as per RBI Notification, remittance of money through Electronic Clearance Service (ECS) has been replaced by National Electronic Clearance Service (NECS) with effect from 1st October, 2009.
The advantages of NECS over ECS include faster credit of remittance to beneficiary’s account, wider coverage with no limitations of location in India besides ease of operations for remitting agencies NECS essentially operates on the new and unique bank account number, allotted by banks, post implementation of Core Banking Solutions (CBS) for centralized processing of inward instructions and efficiency in handling bulk transactions.
In this regard you are requested to furnish the new Bank Account Number allotted by the banks, post implementation of CBS, along with a blank cancelled cheque or phothocopy of a cheque pertaining to the concerned account;
Payment of dividend through National Electronic Clearing Service (NECS)
As per the amendment to the Companies Act 1956, the nomination can be made by individuals on their own behalf singly or jointly. Non individuals including society, trust, body corporate, partnership firm, karta of Hindu Undivided Family, holder of power of attorney cannot nominate. If the shares are held jointly all joint holders will sign the nomination form. A minor can be nominated by a holder of shares and in that event the name and address of the guardian shall be given by the holder. Transfer of shares in favour of a nominee shall be valid discharge by a Company against the legal heir. The nominee shall not be a trust, society, body corporate, partnership firm, karta of Hindu Undivided Family or a power of attorney holder. A non-resident can be a nominee on re-patriable basis. Nomination stands rescinded upon transfer of shares.
Please read above instructions carefully before sending nomination and retain a copy of the nomination form with you and get confirmation of the same from office.
Usage of electronic payment modes for making cash payments to the investors: As per SEBI circular CIR/MRD/DP/10/2013 dated 21.03.2013, Members holding shares in electronic form/demat mode are requested to provide the bank particulars to Depository Participants/Depositories which will be used by the Share Transfer Agent/Company for payment of dividend. In cases where either the bank details as MICR (Magnetic Ink Character Recognition), IFSC (Indian Financial System Code), etc. required for making electronic payment are not available or the electronic payment instructions have failed or have been rejected by the bank, Share Transfer Agent/Company will use physical payment instructions for payment of dividend to these members with printing the bank account details of the shareholders wherever applicable.
Investors who hold physical shares may provide updated bank details to Share Transfer Agent (Data Software Research Co. Pvt. Ltd. #19, Pycrofts Garden Road, Off. Haddows Road, Nungambakkam, Chennai- 600 006. Ph: +91-44-2821 3738 / 2821 4487, Fax: 91-44-2821 4636, Email : email@example.com) to enable maintaining the information as required.
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