Buisness

LKP Transfer Funds

The LKP transfer funds facility allows investors to transfer funds between their trading and bank accounts quickly and easily. The new account also allows for seamless fund transfers from one trading account to another. In addition, LKP is closing down its Register of Members and Share Transfer Books, effective May 27, 2013.

LKP Transfer Funds 3-in-1 account facilitates swift fund transfer between bank account and trading account

LKP has teamed up with HDFC Bank to introduce a new banking product, LKP 3-in-1 online account. The account enables customers to open and manage trading accounts from one single account and is free of annual maintenance charges for a year. The account also allows users to transfer funds between trading and bank accounts with ease. Customers can also benefit from the 3-in-1 account’s free brokerage and no-fee feature.

An IBAN code is a string of letters and numbers that identify a payee’s bank, branch, and account number. Many financial institutions require this information when receiving funds. In some cases, making a transfer without this information can lead to delays, reversals, or even a refund. In some cases, the receiving financial institution may require you to request an inquiry, which could incur fees.

The recipient of a transfer can go directly to the same agency’s office in the country of the payee. Upon receiving the payment, the recipient can present identification, collect the funds, and receive them in cash. In many cases, the transaction is instantaneous. The LKP Transfer Funds 3-in-1 account facilitates swift fund transfer between bank account and trading account

Employees Stock Option Scheme 2010

An employee’s stock option is a type of equity investment. A stock option allots the employee a share of the company at a fixed price. The money is saved monthly and deposited with a bank. In exchange for the Option, the employee receives a fixed monthly income and can buy equity shares at a predetermined price. Those who receive their stock options are entitled to withdraw all the monthly savings and the interest accrued on these funds at any time.

A person who has been granted options under the Employees Stock Option Scheme 2010 can exercise them within five years. The options will be deemed vested after five years of service with the company. There are performance parameters that must be met before the option can be exercised. The Committee will determine the weighted average price of shares that can be exercised. This is the average closing price on the National Stock Exchange over a one-year period.

The Employees Stock Option Scheme 2010 (ESOS) is an incentive-based plan that provides employees with equity ownership opportunities. The company grants employees options based on their performance and eligibility. Each option is worth one equity share in Thomas Cook (India) Limited. The options vest in three equal annual installments on the employee’s grant date. However, the employee cannot exercise options if the company is not profitable.

LKP Finance to close Register of Members & Share Transfer Books from May 27, 2013 to May 31, 2013

In order to streamline its business processes, LKP Finance is closing the Register of Members & Share Transfer Books from the end of May. The company will no longer report segment-wise data on its website. In addition, the company is closing all of its branches on May 27 and 31. This closure will be beneficial to shareholders and the company. Investors can expect the stock price to remain flat over this period.

The Board of Directors generally holds meetings in Mumbai, and notice is sent to all directors well in advance. During the financial year ended 31 March 2013, the Board held five meetings. During the year, the Company had five Directors’ Meetings, held on different dates. The corresponding Directors’ Meetings were held on May 26, May 27, May 31, and June 8, 2013.

The Board of Directors has appointed an Audit Committee, which consists of two independent directors, Milan S. Bhise, and Vineet N. Suchanti. The Committee is chaired by Mr. Girish Innani, General Manager (Legal) & Company Secretary of the Company. It has received twelve shareholders’ letters during the year, 11 of which were complaints about the failure to receive a Dividend Warrant. There was one complaint about the failure to receive the Annual Report. The Company has engaged M/s. V. R. Associates to conduct a Reconciliation of Share Capital.

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