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 1. INCORPORATION

 

The Andhra Pradesh State Civil Supplies Corporation Limited was incorporated in the year 1974, as a Limited Company under the Companies Act 1956. The share capital of the Company was fully contributed by the Government of Andhra Pradesh. 

 

2. CAPITAL

 

The paid up Equity Capital of  Rs.3.00 crore has been fully subscribed and paid by the Govt. of AP i.e., 30,000 shares of Rs.1,000/- each and his nominees except 3 shares issued to signatures on the Memorandum and Articles of Association and Commissioner of Civil Supplies as detailed below.

 

1.

The Governor of Andhra Pradesh 29,997 shares

2.

The Commissioner of Civil Supplies 1 share

3.

The Director of Civil Supplies 1 share

4.

The VC & MD, APSCSCL 1 share

 

3. RESERVES & SURPLUS

 

The Corporation could accumulate Rs.16.18 crores as Reserves out of its profits besides accumulated surplus of Rs.119.05 crores as at 31st March 2011. This total amount of Rs.135.23 crores is  ploughed back and utilizing as working capital.

 

4. OBJECTS OF THE CORPORATION 

a)  The Main objects: 

To engage in, promote improve, develop, counsel and finance production, purchase, storage, processing, movement, transport, distribution and sale of food grains, foodstuffs and any other essential commodities and to articles establish laboratories for the purpose of ensuring quality control, to train personnel in the technique of quality  control, and  to provide  services  and assistance  of all  kinds  of the  said purchases including capital credit, means, resources, technical and managerial services, advice and assistance.

 

b)    Objects incidental or ancillary to the attainment of the main  objects: 

1. To plan formulate and execute projects and manage and administer  such projects including shops, establishments or rice mills, flour mills or any other processing or manufacturing facilities which in the opinion of the Company is essential for the furtherance of the objects of the Company; 

2. To take over from the Government of Andhra Pradesh any of the projects established with the objects of the Company in view;

 

(a)   To merge, amalgamate, reconstitute the company with any other company / companies or any other company / companies with this company, for the purpose of rationalizing the activities of the company / companies,  effecting  economies  and  efficiency  in  operations  or  can  be  conveniently  or advantageously combined as per directives of Government of Andhra Pradesh (Added as per Resolution of the Members dated: 5.7.2004);

3.   To promote and establish  Companies  and  Associations  for  the furtherance  of  the  objects  of  Company, and to acquire and dispose of shares of such Companies and Associations;

4.   To undertake investigation, studies for preparation of feasibility, studies and project reports for the establishment of any projects for execution by the Company or by any other agency, connected with the objects of the Company;

5.   To procure capital or financial assistance for any undertaking project or enterprise connected with the objects of the  Company whether owned by Government, statutory body, private company, firm or individual or cooperative institution and to subscribe for or to underwrite or otherwise deal in shares, debentures and securities of such institutions or individuals;

6.   To produce, procure and provide plant, machinery, vehicles materials and stores, livestock and any other goods or services to any undertaking, project or enterprise and to grant or guarantee loans or advances to any company, association, co-operative institutions or individual engaged in activities connected with the objects of the Company;

7.   To  investigate and examine the condition,  prospects, value, character  and  circumstances of any business undertaking, project or enterprise and generally of assets property and rights connected with the objects of the Company and to employ and remunerate-experts or agencies for this purpose;

8.   To acquire lands, develop them by providing communication, water supply, power supply and other facilities and make them available on  such terms and  conditions  as  may  be agreed upon  to any individual, association or concern including co-operative institutions for any activity in furtherance of the objectives of the Company;

9.   To carry on any other trade or business which in the opinion of the Company may conveniently be carried on as ancillary or in connection with or calculated directly or indirectly to enhance the value of or render profitable to any of the Company’s properties or rights;

10.   To acquire and undertake the whole or any part of the business, property and liabilities of any person or Company carrying on any business which the Company is authorized to carry on, or possessed of property suitable for the purposes of this Company;

11.   To  pay  all  costs,  charges  and  expenses  incurred  or sustained  in  or  about  the  promotion  and establishment of the Company, or which the Company shall consider to be in the nature of preliminary expenses including therein the cost of advertising, commissions and brokerage, in connection with issue  of  shares  and  I  or  debentures,  printing  and  stationery  and  expenses  attendant  upon  the formation of agencies;

12.   Upon  any  issue  of  shares,  debentures  or  other  securities  of  the  Company,  to  employ  brokers, commission agents and under writers and to provide for the remuneration of such persons for their services by payment in cash, or by the issue of charges, debentures or other securities of the Company or by the granting of options to take the same, or in any other manner allowed by law;

13.   Generally to purchase, take on lease or in exchange, hire, or otherwise acquire any real and personal property and any rights or privileges which the Company may think necessary or convenient for the purposes  of its  business and in particular  any land, building,  easement,  machinery  stores, plant, installations and  stock-in trade;

14.   To construct, maintain and alter any buildings or works, necessary or convenient for the purposes of the Company;

15.   To  construct,  improve,  maintain,  develop,  work,  manage,  carry out  or  control  any  roads  ways, tramways, railways, branches or sidings, bridges reservoirs, water courses, wharves, manufactories, warehouses,  electric works,  shops,  stores and other  works and conveniences,  which  may seem calculated directly or indirectly to advance the Company’s interests and to contribute, subsidies or otherwise assist or take part in the construction, improvement, maintenance, working,management, carrying out or control thereof;

16.   To develop and turn to account any land acquired by the Company or in which it is interested and in particular by laying out and preparing the  same for cultivation or building purposes,  constructing, altering, pulling down, decorating, maintaining, fitting up, and improving buildings and by planting, paying, draining, farming, cultivating and letting on lease or agreement and by advancing money to and entering in to contractors and arrangement of all kinds;

17.   To  apply  for and take out, purchase  or otherwise  acquire any trade mark, patents,  patent-rights, inventions, copyright, designs of secret processes, which may be useful for the Company’s objects, and to grant license to use the same, to work develop, carry out exercise and turn to account the same;

18.   To enter into any arrangements with Government of India, Government of Andhra Pradesh or any other State Government or Union Territory or Local Authority or Companies, Associations or individuals or Co-operative Societies for the purpose of carrying out the objects or the Company or furthering its interests and to obtain from such Government territory, Authority, Company, Association, person or Society, any charters / subsidies, loans, indemnities, grants, the company may think is desirable to obtain and exercise and comply with any such arrangements rights, privileges;

19.   To issue, or guarantee the issue, or the payment of interest, on the shares, debentures, debentures stock, or other securities, or obligations, in any Company or Association and to pay or provide for brokerage, commission and underwriting in respect of any such issue;

20.   To  draw,  make,  accept,  endorse  discount,  negotiate  and  execute  and  to  buy,  sell  and  deal  in promissory notes, bills of exchange; bills of lading and other negotiate or transferable instruments;

21.   To borrow or raise or secure the payment of money in such manner as the company shall think fit, and in particular by the issue of  debentures or debenture stock, perpetual or otherwise, charged upon all or any of the Company’s property (both present and future) including its, uncalled capital and to purchase, redeem or pay off any such securities;

22.   To receive grants, loans, advances or other moneys or deposits, or otherwise from State or Central Government,  Banks,  Companies,   Trusts,  or  any  other  Financial  Institutions  or  Associations  or  individuals with or without allowance of interest thereon;

23.   To lend money to any person or persons or Associations or Companies or Co-operative Societies in particular to customers and others having dealings with the Company on such terms and conditions and may deem expedient;

24.   To invest the moneys of the Company, not immediately required in such manner, other than in the shares of this company as from time to time may be determined;

25.   To acquire by subscription, purchase or otherwise and to accept and take hold and sell shares or stock in any Company Society or undertaking, the objects of which shall, either in whole or in part, be similar to those of this Company, or such as may be likely to directly or indirectly promote or advance the interests of this Company;

26.   To establish, maintain, subscribe to or subsidize or become member of training institutions, research laboratories research institutions, and experimental workshops for scientific and technical research and experiments in connection with and incidental to the objects of this Company;

27.   To employ or pay experts, foreign consultant, etc., in connection with the planning and development of all or any of the business connected with the Company’s operations;

28.   To create any depreciation fund, reserve fund, sinking fund or any other special fund, whether for depreciation or for repairing, improving, expanding or maintaining any of the property of the Company or for any other purpose whatsoever and to transfer any such fund or part thereof to any other fund, herein mentioned;

29.   To use trade marks or trade names or brands for the products and goods of the Company and adopt such means of making known the business and end products of the Company or of any Company in which  this  Company  is  interested  as  may  seem  expedient  and  in  particular  by advertising  in newspapers, magazines, periodicals by circulars, by purchase and exhibition of works of art of interest, by opening stalls and exhibitions, by publication and distribution of books, pamphlets and periodicals, calendars, almanacs and  diaries,  by  distributing  samples  and  by granting  prizes,  rewards  and donations;

30.   To apply the assets of the Company in any way in  or towards the establishment, maintenance or extension of any association, institutions or fund in any way connected with any trade or business or scientific research industry or commerce connected with the objects of the company;

31.   To appropriate, use or let out land belonging to the Company for streets parks, pleasure grounds, allotments and other conveniences and to present any such land so laid to the public or to any person or persons or company conditionally or unconditionally as the company thinks fit;

32.   To establish maintain and operate general educational institutions and hostels for the benefit of the children of the employees or ex-employees of the company, their dependants or connections of such persons and others and to make grants and awards and grant    scholarships;Read More