NBI Industrial Finance Limited

NBI Industrial Finance Limited ,

Strand Road,
Kolkata-700001

NBI Industrial Finance Limited was originally incorporated in Lahore in 1935 as The New Bank of India Limited. Dr. Ganeshi Lal Aggarwal and Mr. Kohli were the original promoters.

After 1947 the Registered office was shifted to New Delhi. To provide for the losses due to partition the face value of the share was reduced from Rs. 10 to Rs. 5 . Later, The New Bank of India Ltd. was nationalised. Most of the non promoter shareholders took cash compensation.

The Registered Office of the Company was shifted from Connaught Place, New Delhi to Strand Road , Kolkata. The share's face value was consolidated to Rs. 10.

Share Capital : Rs. 1 cr 12 lakh
Reserves : Around Rs.11 cr

NBI Industrial Finance Company is , now , the investment holding Company of Bangurs ( Benu Gopal Bangur of Shree Cement group ). They were the promoters of New Bank of India at the time of nationalisation. As the Company has holding of Shree Cement Ltd. it is expected that the market worth of its holdings is many times the book value . It holds , inter alia , around 8 lakh 50,000 shares of Shree Cement ( Book Value around Rs. 2 Crore 40 lakh ).

The Executive Chairman of Shree Cement Limited Benu Gopal Bangur is Chairman NBIIndustrial Finance. Other associate companies of BG Bangur include The Didwana Industrial Corporation Limited ;Khemka Properties Pvt Limited ; Digvijay Finlease Limited etc.

There have been numerous complaints among share holders of non receipt of Annual Report..

Sandip Ginodia , Director

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