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'FILE NO: 14/14 name; BANK FOR MUSCAT (IMPERIAL BANK OF IRAN & THE PERSIAN GULF)' [9r] (17/434)
The record is made up of 1 file (215 folios). It was created in 15 Jun 1945-1 Nov 1948. It was written in English. 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.
Authorised?
10,000 ordinary shares of Ss 100/- each Es 10,00,000
Proposed Issue:
10,000 ordinary shares of Es 100/- each Bs 10,00,000
(Rs7,00,000 paid up)
It is proposed to start a bank as a private limited co pany
at Bombay with an authorised capital of Rs 10
lakhs
One lakh is equal to one hundred thousand rupees
divided I
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
facilities in these countries are limited and the establishment
need
of the proposed bank will not only fulfil a very deeply felt/
but will also bo 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 Association
is generally on the lines of Section 277 F of the Indian
Companies Act. l-hder clause 66 of the articles of Association
every share carries one vote and as all the shares are of
one class and will be \;niformly called up, voting rights
will bo equitable. Under clause 69 the number of directors
is not to be less than two or more than seven. Under clause
71 Ur. 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$f> of the share capital
of the company. Under clause 76 his remuneration shall
be Tt 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 v/ith a monthly allowance
of not less than Es 600/-. Under clause 90 the Managing
Director will be tin ex-officio Director and will not be
subject to retirement by rotation. It appears from the
applicati( n and from the information we have received from
c
About this item
- Content
The file comprises telegrams, despatches, correspondence, memoranda, and notes, concerning the establishment of banks in the Gulf including Dubai, Kuwait, and Muscat.
Issues discussed in the correspondence include:
- Concerns relating to the establishment of the 'India and Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. Bank Limited' with a view to undertaking banking services in Muscat and Dubai
- Approval of the application by the Imperial Bank of Iran to open branches in Muscat and Dubai
- Banking Agreement between Sultan and Imperial Bank of Iran, 10 July 1948.
Included in the file is a copy of the 'Banking agreement between the Shaikh of Dubai and the Imperial Bank of Iran dated 5th January 1956'
The file features the following principal correspondents: the Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. (William Rupert Hay); 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. , Muscat (Ralph Ingham Hallows); the Secretary to the Government of India, External Affairs Department; the Sultan of Muscat and Oman [Sa‘īd bin Taymūr]; the Imperial Bank of Iran; and the Eastern Bank Limited.
- Extent and format
- 1 file (215 folios)
- Arrangement
The papers are arranged in approximate chronological order from the front to the rear of the file.
- Physical characteristics
Foliation: the main foliation sequence (used for referencing) commences at the front cover with 1, and terminates at the inside back cover with 217; 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 foliation sequence is present in parallel between ff 1-217; these numbers are also written in pencil, but are not circled. A previous foliation sequence, which is also circled, has been superseded and therefore crossed out.
- Written in
- English in Latin script View the complete information for this record
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'FILE NO: 14/14 name; BANK FOR MUSCAT (IMPERIAL BANK OF IRAN & THE PERSIAN GULF)' [9r] (17/434), British Library: India Office Records and Private Papers, IOR/R/15/6/444, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100066431637.0x000012> [accessed 25 April 2024]
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Copyright: How to use this content
- Reference
- IOR/R/15/6/444
- Title
- 'FILE NO: 14/14 name; BANK FOR MUSCAT (IMPERIAL BANK OF IRAN & THE PERSIAN GULF)'
- Pages
- 7r:10v, 163r:164v, 200r:200v
- Author
- Reserve Bank of India
- Usage terms
- The copyright status is unknown. Please contact copyright@bl.uk with any information you have regarding this item.