cub share broking services ltd Management discussions


CUB SHARE BROKING SERVICES LIMITED ANNUAL REPORT 2005-2006 MANAGEMENT DISCUSSION AND ANALYSIS STATUS OF OPERATIONS: CUB SHARE BROKING SERVICES LIMITED (CSBSL) was incorporated on November 22, 2005 and the Certificate of Commencement of Business was received from the Registrar of Companies on December 1, 2005. CSBSL is the wholly owned subsidiary company of Integrated Enterprises (India) Limited. The company has received the in-principle approval from the National Stock Exchange and is awaiting SEBIs registration. The company would start the operations on receipt of SEBIs approval. FINANCIAL STATUS: As the accounts for the period under review are prior to commencement of operations, Profit and Loss Account indicates preliminary expenses and other pre-operative expenses charged off during the period under review. SHARE CAPITAL: During the period under review, 1,00,00,000 equity shares of Rs.10 each in the share capital of the Company amounting to Rs.10,00,00,000 and 150000 2% Non Convertible Redeemable Preference Shares of Rs.1000 each amounting to Rs.15,00,00,000 were allotted to the subscribers to the Memorandum and Articles of Association of the Company. PUBLIC DEPOSITS: The Company has not accepted any fixed deposit under Section 58A of the Companies Act, 1956 from the public.