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'File 9/26 India and Persian Gulf Bank Limited' [7r] (13/78)
The record is made up of 1 file (37 folios). It was created in 15 Jun 1945-8 Dec 1946. It was written in English and Arabic. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .
Transcription
This transcription is created automatically. It may contain errors.
I
Authorised :
10,000 ordinary shares of Es 100/- each Es 10,00,000
Proposed Issue :
10,000 ordinary shares of Es 100/- each Es 10,00,000
(Es7,00,000 paid up)
It is proposed to start a bank as a private limited co. pany
at Bombay with an authorised capital of Es 10
lakhs
One lakh is equal to one hundred thousand rupees
divided
into 10,000 shares of Es 100/-each. The promoters are
willing to have the head office at Karachi and a branch at
Bombay, if there is any objection to the bank being allowed
to have its head office at the latter place. It is stated
that the business between India and Iraq, Iran and the Middle
East countries has grown considerably and that after the
war it may increase further. It is also stated that .banking
tr
facilities in these countries are limited and the establishmen
need
of the proposed bank will not only fulfil a very deeply feltZ
but will also be very much appreciated by the commercial
community trading between India and the
Persian Gulf
The historical term used to describe the body of water between the Arabian Peninsula and Iran.
countries
The objects clause of the draft Memorandum of Associatior
is generally on the lines of Section 277 F of the Indian
Companies Act. Under clause 55 of the articles of Association
every share carries one vote and as all the shares are of
one class and will be uniformly called up, voting rights
will be equitable. Under clause 69 the number of directors
is not to be less than two or more than seven. Under clause
71 Dr. Puran Singh shall be the Chairman of the directors
so long as he remains a director and holds in his own name
or in the names of his nominees 25$ of the share capital
of the company. Under clause 75 his remuneration shall
be Es 6,000/- per annum. Clause 89 provides for the appoint
ment of Dr. Puran Singh as the first Managing Director of
the nank for a period of five years with a monthly allowance
of not less than Es 500/-. Under clause 90 the Managing
Director will be an ex-officio Director and will not be
subject to retirement by rotation. It appears from the
application and from the information we have received from
l
fl
About this item
- Content
The file contains correspondence sent and received by the Political Agent A mid-ranking political representative (equivalent to a Consul) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Agency. at Bahrain concerning the proposed opening of a bank called Indian and Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. Bank Ltd with Iraqi capital, headquarters in Karachi and branches at Kuwait, Dubai and Muscat.
There is a letter in Arabic with English translation, and a copy of a letter forwarded by the Residency An office of the East India Company and, later, of the British Raj, established in the provinces and regions considered part of, or under the influence of, British India. Agent at Sharjah.
- Extent and format
- 1 file (37 folios)
- Arrangement
The papers in the file are arranged chronologically. There are file notes at the end, on folios 35-38. The notes are arranged chronologically and refer to documents within the file.
- Physical characteristics
Foliation: the main foliation sequence (used for referencing) commences at the front cover with 1 and terminates at the back cover with 39; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio. An additional mixed foliation/pagination sequence is also present in parallel between ff 2-38; these numbers are also written in pencil, but are not circled. They are located in the same position as the main sequence, except for some instances which are located on the verso The back of a sheet of paper or leaf, often abbreviated to 'v'. .
- Written in
- English and Arabic in Latin and Arabic script View the complete information for this record
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'File 9/26 India and Persian Gulf Bank Limited' [7r] (13/78), British Library: India Office Records and Private Papers, IOR/R/15/2/371, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100025656265.0x00000e> [accessed 19 April 2024]
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Copyright: How to use this content
- Reference
- IOR/R/15/2/371
- Title
- 'File 9/26 India and Persian Gulf Bank Limited'
- Pages
- front, front-i, 2r:24v, 28r:38v, back-i, back
- Author
- East India Company, the Board of Control, the India Office, or other British Government Department
- Usage terms
- Open Government Licence