About Department

The Corporation was established under Companies Act 1956 on 22nd October 1974. It is a wholly owned undertaking of U.P. Government. Its administrative department is Department of Food & Civil Supplies, UP Govt. The authorized share capital is 5 crore rupees.

A. Main objects to be pursued by the company on its incorporation are:

  • To undertake procurement, purchase, storage, movement including inter State movement, distribution and sale of food grains, oil seeds and other agricultural products.
  • To plan, promote, set up or assist in promoting or setting up Rice Mills, flour Mills, Oil Mills including Vanaspati Mills, Food based industries or such other undertakings which may help in the processing or production on food grains and food stuffs.
  • To undertake procurement, import, production, storage, processing, supply and distribution of any other items of mass consumption which are essential to the needs of the community.
  • To manage, control and run any mills, factories or undertakings in the State carrying on any trade or business analogous to the objects of the Company which may be taken over by the Government of India under the Industries (Development and Regulation) Act, 191 and the management of which may be entrusted to the Company.
  • To investigate and examine the condition prospects, value, character and circumstances of any business undertaking, project or enterprise or such other units engaged in manufacturing or processing of any commodities like bread, biscuit, cakes, pastries and other food products, dairy products, etc. and generally of assets, property and rights connected with the objects of the company and to take over such units as the company may deem fit and to employ and remunerate experts or agencies for this purpose.

B. Objects incidental or ancillary to the attainment of the main objects:

  • To take over from the Government of India or Government of Uttar Pradesh any or all its projects or services that have been established with objects analogous to those of the company.
  • To carry on any other trade or business which in the opinion of the company may conveniently be carried on in connection with or calculated or directly or indirectly to enhance the value of or render profitable to any of the company’s properties or rights.
  • To undertake investigation, studies or preparation of feasibility and project reports for the establishment of any projects connected with the objects of the company for execution by the company or by any other agency.
  • To prepare capital and financial assistance for any undertaking, project or enterprise connected with the objects of the company whether owned by Government, statutory body, private company, firm or individual or cooperative institution and to subscribe for or to underwrite or other wise deal in shares, debentures and securities of such institutions or individuals.
  • To promote and establish companies and associations in furtherance of the objects of the company and to acquire and dispose of shares of such companies and associations.

 

The Authorized Share Capital of the Company has been increased by Rs. Five Crores divided into Five Lakh Equity Shares of rupees hundred each vide Govt. Approval Letter No. 1129/87/29-10 dated 18 August, 87 with such rights, privileges and conditions attaching there to as may be provided by the Articles of Association of the company, for the time being, to increase and reduce the capital of the company, for the time being, and to vary, modify, amalgamate or abrogate the right, privileges and conditions in such manner as may for the time being be provided by the Articles of Association of the company, subject always to the provisions of the Companies Act, 1956.