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The shares of Pilani Investment and Industries Corporation — a non-deposit taking non-banking financial company of the Birla group — began being traded under the trade-for-trade segment on the NSE from Tuesday.
The patriarch of the Birla family, Basant Kumar Birla and his grandson Kumar Mangalam Birla, are on the Board of directors of Pilani Investments and Industries Corporation.
The company, in its annual general meeting notice to its shareholders, said it planned to hold its AGM on December 21 to appoint a director in place of Kumar Mangalam Birla (or re-appoint him as he is eligible), adopt its FY15 accounts, take a decision on dividend and appoint auditors.
Founded on August 9, 1948, under the Jaipur Companies Act, 1942, its shares were listed on the Madhya Pradesh Stock Exchange and the Delhi Stock Exchange Association.
The company’s shares were being traded on the BSE and the NSE under the permitted category but trading was suspended after SEBI de-recognised the DSE and the MPSE.
Following this development, the company forwarded a listing application to the Calcutta Stock Exchange and the NSE for listing of its shares.
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