Jammu & Kashmir SCs, STs & BCs Development Corporation

The Corporation is a registered non-profit making organization, based on its objective of socio-economic and educational upliftment of weaker section of the society practically no source of its own. However under its scheme of Direct Financing it is adding interest 2-3% which too is realizable after the loan liquidated in full.

Share Capital:

The authorized Share Capital of the Corporation is Rs.2000.00 lacs and the paid up Share Capital contribution by the State and Central Governments in the ratio of 51:49 as on 31-03-2007 is as under:

(Figures in Lacs)
	Authorized Share Capital	Paid –up Share Capital
State Government	1020.00	1017.00
Central Government	980.00	991.15
Total	2000.00	2008.15

Budgetary Support by the State Government

The corporation being a non-profit earning organization is of late getting some support financial support from the State Govt. in shape of budgetary support, which is as under:

2004-05	Rs. 10.00 Lacs
2005-06	Rs. 25.00 Lacs
2006-07	Rs. 30.00 Lacs
2007-08	Rs. 50.00 Lacs
2008-09	Rs. 50.00 Lacs
	Rs. 165.00 Lacs

Financial Resources

(a). Share Capital:

Authorized Share Capital

The Authorized Share capital of the corporation was Rs. 20 crores and paid up Capital is Rs. 2008.15 Lacs. The Board of Directors in its 33rd. meeting agreed to the enhancement of the Authorized Share Capital from Rs. 20.00 Crores to Rs. 30.00 Croes. The proposal for the approval of enhancement of Share Capital stands submitted to the State Govt. Vide this office No: SCSTBC/Adm/2707-09/08, dated: 03-06-2008.

Paid up Share Capital

The paid up Share Capital, contributed by the State and Central Governments in the ratio of 51:49 as on 31-03-2009 is as under:-

                                        State Share:(51%)             Rs. 1017.00 Lacs
                                    Central Share: (49%)             Rs. 991.15 Lacs
                                      Total Paid up Capital:             Rs. 2008.15 Lacs

THE UTILIZATION OF SHARE CAPITAL:

The Share Capital of the corporation is being utilized, at present, towards the contribution of the corporation ( i.e 5-10% of the project Cost) for implementing various Direct Financing schemes in collaboration with National Level Apex Corporations for the socio-economic upliftment of its target group people and also for meeting administrative expenses in the absence of adequate Financial Support to Corporation from the State Govt.

(b). Budgetary Support provided by the State Govt.:

The State Govt. has released meager Budgetary Support to the corporation from the year 2004-05 onwards. The detail of which is given hereunder:-

            2004-05                       Rs. 10.00 Lacs
            2005-06                       Rs. 25.00 Lacs
            2006-07                       Rs. 30.00 Lacs
            2007-08                       Rs. 50.00 lacs
            2008-09                       Rs. 50.00 Lacs
            Total                            Rs. 165.00 Lacs