Subsidiary Company
As on the date of this Draft Red Herring Prospectus, our Company has only one subsidiary namely, National Projects Construction Corporation Limited (“NPCC”). The details of our Subsidiary are disclosed hereunder:
National Projects Construction Corporation Limited
Corporate Information
NPCC a “Mini Ratna: Category-I” Central Public Sector Enterprise under the MoJS, was incorporated as “The National Projects Construction Corporation Private Limited” under the provisions of the Companies Act, 1956 on January 9, 1957 as a private limited company and a certificate of incorporation bearing registration no. C 2752 of 1956-1957 was issued by the Registrar of Companies, Delhi. Pursuant to the provisions of Section 23 of the Companies Act, 1956 and under the order of the Central Government, conveyed by the Ministry of Finance, C & I Department of Company Law Administration by their letter bearing No. 11 (32) -CL. VI/59 dated July 21, 1959, the name of our Subsidiary was changed to “National Projects Construction Corporation Limited” and a certificate of change of name was issued by the Registrar of Companies, Delhi dated August 1, 1959.
Pursuant to the passing of a necessary resolution in terms of Section 21 of the Companies Act, 1956 and the approval of the Central Government, the name of our Subsidiary was changed to “Rashtriya Pariyojna Nirman Nigam Limited” and a fresh certificate of incorporation dated May 31, 1993, consequent to the change of name, was issued by the Registrar of Companies, Delhi and Haryana. Subsequently, the name of our Subsidiary was again changed to “National Projects Construction Corporation Limited”, pursuant to the passing of necessary resolution in terms of Section 21 of the Companies Act, 1956 and the approval of Central Government and a fresh certificate of incorporation dated August 26, 1997, consequent to the change of name, was issued by the Additional Registrar of Companies, N.C.T. of Delhi and Haryana.
NPCC became a subsidiary of our Company on April 26, 2019 pursuant to the strategic disinvestment made by the GOI by selling its entire shareholding in NPCC (98.89% of paid up capital) to our Company. The corporate identity number of NPCC is U45202DL1957GOI002752. The registered office of NPCC is at Raja House, 30-31, Nehru Place, South Delhi, Delhi -110019, India.
Nature of Business
NPCC is authorised under its memorandum of association to construct, execute, carry out, improve, work, develop, administer, manage or control in India, works and conveniences of all kinds, which expression includes railways, tramways, ropeways, docks, harbours, piers, wharves, dams, barrages, weirs, reservoirs, embankments, canals, irrigation, power houses, transmission lines, reclamations, improvement, sewage, drainage, sanitary, water, gas, electric light, telephonic and power supply works, and hotels, houses, markets and buildings, private, or public, and all other works or conveniences, whatsoever, and generally to carry on the business of builders and contractors, engineers, architects, surveyors, estimators and designer in all their respective branches.
Capital Structure
The authorised share capital of our Subsidiary is ₹ 7,000,000,000 divided into 7,000,000 equity shares having a face value of ₹ 1,000 each and its issued, subscribed and paid-up equity share capital is ₹ 945,316,000 divided into 945,316 equity shares of face value of ₹ 1,000 each.