The Osmanshahi Mills, Limited



THE OSMANSHAHI MILLS, LIMITED, was was incorporated in the State of Hyderabad (Deccan) and registered under the Companies Act IV of the Fasli year 1320 of H.E.H. the Nizam’s Dominions. The Company was Registered as a Joint Stock Company on the 7th of Sherivar in the Fasli year 1331 (15 July 1922 A. D.) at the City of Hyderabad, Saifabad, in the Dominions of H.E.H. the Nizam of Hyderabad. Although the company was incorporated in the state of Hyderabad, which had its own currency – the OS (Osmania Sicca or Hyderabadi Rupee), the authorized share capital of the company was denominated in British-India Rupees, which is mentioned on the share certificate as BG Rs (British Government Rupees) probably to attract investments pan India.

The Mills were established at Nanded (now in Maharashtra) with land leased (at least partly) from the Gurudwara at Nanded.

The initial Authorised capital was BG Rs. 100,00,000 (British Government Rupees One Crore) in 1,00,000 shares of BG Rs. 100 each and subscribed capital was Rs. 50,00,000. the The first Shares were issued in 1924

The initial or what can be termed as the promoters shares were issued on 4th July 1922 to the following members:

1) Jamseliji Aideshir Wadia, Malabar Hill,Bombay.(50) Fifty only.

2) Purshotamdas Thakordas, Malabar Hill, Bombay. Fifty only.

3) Mahomedbhoy Currimbhoy, Warden Boad, Bombay. Fifty only.

4) Fazalbhoy Currimbhoy, Peddar Boad, Bombay. Fifty only.

5) Ahmed Currimbhoy, Cufe Parade, Bombay. Fifty only.

6) F. E. Dinahaw, Solicitor, Pavai Road, Bombay. Fifty only.

7) Habib Currimbhoy, Cooperage, Bombay. Fifty only.

Management was entrusted to M/s. Currimbhoy Ebrahim and Sons, Limited, their successors and assigns.

Not much is known of what happened in the intervening period but the mills were nationalised under the THE SICK TEXTILE UNDERTAKINGS(TAKING OVER OF MANAGEMENT) ACT, 1972. Act No. 72 OF 1972 and handed over to the National Textile Corporation.

Here are 2 certificates from my collection

The first one from the initial issue of 1924 for one share, in Mauve colour printed by Waterlow & Sons and having a printed Serial number and bearing a later stamp showing an increase in issued Capital from Rs. 50,00,000 to Rs. 87,50,000 being an issue of Bonus Shares in 1950. The Original capital is mentioned in British Government Rupees or BG Rs. The certificate bears 2 revenue stamps – one of the British India Government and the other of the Hyderabad State.

The second one, similar in most respects to the first, is from the issue in 1950, again for one Share showing the capital in India Government Rupees or I G Rs. Post Independence, though The Osmania Sicca or OS (Hyderabad Rupee) continued to be the currency of the Hyderabad State till 1959 coexisting with the Indian rupee post independence, these shares were denominated in Indian Government Rupees as mentioned on the share certificates as IG Rs. This certificate shows only one Revenue stamp – that of the Hyderabad State.

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