Your Partners in Industrial Development
 

Background

 

Our Mission

We at JKDFC aim to be dynamic, responsive and transparent with an aim to catalyze the economic development of the state of J&K. We at JKDFC shall strive to help in efficient formation of fixed assets by identifying, financing & nurturing Eco-friendly & commercially viable industrial & industrial related infra-structure Projects, of course by financing them within the prudential norms.

 

Quality Statement

We at JKDFC shall strive to achieve the highest standards of quality in terms of services to the entrepreneurs by rendering in-depth counseling, timely advice & assistance for building quality enterprisers on sustained basis in the state of J&K.

 

Formation

The industrial set up of the State of Jammu & Kashmir was badly affected by the turmoil through which the State passed since 1990. With the establishment of popular Govt. in the State in 1996, need was badly felt to reactivate the industrial set up of the State and to bring it back on rails. The State Govt. took up the matter with GOI to formulate a package of industrial incentives on the lines of North Eastern States. It was impressed upon the GOI that a comprehensive policy needs to be worked out which, besides developing the necessary industrial infrastructure, shall also include a package of incentives for the existing as well as the new entrepreneurs willing to invest in the State. The GOI came up with a comprehensive industrial policy and package of concessions for the State of Jammu and Kashmir vide Office Memorandum No.1 (13)/2000-NER,dated 14th June 2002 issued by Ministry of Commerce & Industry, Department of Industrial Policy & Promotion, GOI pursuant to the decision of Central cabinet. The policy memorandum envisaged:-

  • Fiscal incentives to new industrial units and substantial expansion of the existing units;
  • Development of Industrial Infrastructure;
  • Other incentives;
  • Setting up of J&K Development Finance Corporation Ltd.

As a step towards implementation of the Industrial package/policy of 2002 announced by the Government of India for the State of Jammu and Kashmir, the J&K Development Finance Corporation Ltd. was incorporated on 30th May, 2005 with an Authorized Capital of Rs.100 crore. The Corporation was granted the Certificate for Commencement of Business by the Registrar of Companies, J&K on 28th July, 2005.

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Shareholding Pattern of JKDFC

Shareholding pattern of the Company and the status of share-money released by the promoter-shareholders as on 31-03-2012 is given as under:

S.No.
Name of the Subscribers
No. of Equity Shares
 
Total Share-money
(Rs.)
 
Amount Received
(Rs.)
1-3
 Govt. of India
50000000
500000000
500000000
4-5
Govt. of J&K
 10000000
100000000
100000000
6
   Life Insurance
Corporation
 10000000
100000000
100000000
7
   J&K Bank Ltd.
 10000000
100000000
 100000000
Total
800000000
800000000
800000000

 

Administrative Ministry

The Corporation is under the administrative control of Ministry of Commerce & Industry, DIPP, Govt. of India and has its registered office at 1st Floor, 630-B/A Gandhi Nagar, Jammu. The Corporate office of the Corporation is situated at Green Avenue, I.G Road, Peer Bagh, Srinagar.

 

Organizational Set- up

The affairs of the Corporation are managed by Board of Directors, constitution whereof is detailed hereunder:

  • Shri Ramesh Abhishek, Secretary, Ministry of Commerce & Industry, DIPP- Chairman (ex-officio).

  • Mrs. Ravneet Kaur, Joint Secretary, Ministry of Commerce & Industry, DIPP, GOI – Director.

  • Shri Gyanesh Kumar, Joint Secretary (J&K ),  Ministry of Home Affairs, GOI - Director. 

  • Shri Navin K. Choudhary, Commissioner/Secretary, Finance Department,  Govt. of J&K - Managing Director. 

  • Shri  Shailendra Kumar, Commissioner/Secretary, Industries & Commerce Department, Govt. of J&K – Director.

  • Shri Ateesh Singh, Director (IF), Department of Financial Services, Ministry of Finance, Govt. of India - Director.

  • Shri  T.S Bali, Sr. Divisional Manager, Life Insurance Corporation of India - Director.

 

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