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कर्नाटका फायनांशियल सर्विसेस > कंपनी इतिहास > Finance - Leasing & Hire Purchase > कंपनी इतिहास का कर्नाटका फायनांशियल सर्विसेस - बीएसई: 530481, NSE: N.A

कर्नाटका फायनांशियल सर्विसेस

बीएसई: 530481  |  NSE: N.A  |  ISIN: INE873B01010  |  Finance - Leasing & Hire Purchase

कंपनी इतिहास - कर्नाटका फायनांशियल सर्विसेस
The Company was incorporated as a Public Limited Company with the
 Registrar of Companies, Karnataka, Bangalore, on 12th October 1990
 vide registration No.11294/90. The Company has obtained Certificate
 of Commencement of business on 22nd October, 1990.
 
 PRESENT BUSINESS
 
 The Company commenced its operations in October 1990. The main
 activities undertaken by the Company were Leasing, Hire Purchase and
 Short Term Financing in the form of Bill Discounting & Inter
 Corporate Deposits. The Company has grown steadily and has added
 expertise in diverse areas of financial services like Merchant
 Banking, Corporate
 Advisory Services, Primary Market Investments, Loan Syndications etc.
 The Company has obtained SEBI approval to act as Category III Merchant
 Banker. The Company has also been granted registration by SEBI as
 Category II Share Transfer Agents.
 
 Leasing and Hire Purchase
 
 The Company's Leasing and Hire Purchase portfolio has more than
 trebled in the last three years showing an average growth rate of
 over 100%. The Company has a diversified corporate lease portfolio
 with some of the major companies of Karnataka availing Lease and Hire
 Purchase facilities
 from the Company.
 
 The disbursements made during the last three years are as follows:
 
                               			(Rs. in lakhs)
 	                        31.03.92	   31.03.93	   31.03.94
 Hire Purchase	             159.45	    195.16	    251.18
 Lease	                       56.44	     85.55	    427.37
 
 Short Term Financing
 
 The Company has been successful in the areas of Bill Discounting,
 placement of Inter Corporate Deposits and other short term funding.
 
 The disbursements made during the last three years are as follows:
 
 			                              (Rs. in lakhs)
                         	31.03.92	   31.03.93	   31.03.94
 Bill Discounting	          12.03	    98.17	    115.81
 
 Merchant Banking
 
 The Company has obtained SEBI approval to act as Category III
 Merchant Banker. The Company has on hand, mandates for three issues
 to act as Advisors.
 
 Debt Recovery
 
 The Company's debt recovery record has been good as is indicated by
 the following statistics:
 
 Year Ending March	            1992	   1993	   1994
 
 Hire Purchase Instalments	   100%	 98.78%	 98.90%
 Lease Rentals	               100%	 95.80%	 97.40%
 
 Policy on write off of debt
 
 For writing off receivables	A committee of two Directors 
 upto Rs.25.00 lakhs	         jointly with CEO
 
 For writing off receivables	Board of Directors
 over & above Rs.25.00 lakhs
 
 CREDIT POLICY
 
 The Company's credit policy comprises of stringent criteria for
 assessing credit risk and fixing conservative norms for the Company's
 credit exposure. The general criteria followed by the Company are as
 follows:
 
 1) Overall and individual exposure to each Industry & Client.
 
 2)	Security of the transaction
 
 3)	Balance between risk and return
 
 The Credit norms are distinct for each type of credit.
 
 The appraisal procedure begins with the marketing department doing a
 detailed appraisal for each proposal and obtaining approval from the
 designated sanctioning authority ranging from departmental head to a
 committee of senior executives depending upon the value, period and
 nature of the facility suggested.
 
 The Company has a system of monitoring the repayment on a monthly
 basis and where rentals/instalments are in arrears, immediate steps
 are initiated to get accounts regularized. 
 
 RBI NORMS FOR NBFCs
 
 The Reserve Bank of India (RBI) has come out with a set of guidelines
 for Non-Banking Finance Companies (NBFCs). These norms are to be
 complied with by March 31, 1995. 
 
 These norms cover capital adequacy, classification of assets,
 provisions for loans, income recognition and credit/investment
 limits.  NBFCs are also required to get credit rating for its public
 deposits.
 
 The minimum capital adequacy required as per the norms will be 6% of
 the risk weighted assets and off balance sheet items by March 31,
 1995 and 8% by March 31, 1996. The Company's current capital adequacy
 levels are higher than the prescribed norms. The loans and advances
 and other
 forms of credit are to be classified as standard assets, sub-standard
 assets, doubtful assets and loss assets. The Company follows the norms
 regarding classification of assets. The Company also follows the norms
 for provision for loans, income recognition & limits on lending. The
 Company has also approached ICRA for credit rating for its public
 deposits. Thus the Company does not envisage any difficulty in
 adhering to the norms in the future also.
 
 MAIN OBJECTS
 
 The Main objects of the Company set out in the Memorandum & Articles
 of Association of the Company are:
 
 1. To carry on and undertake the business of finance, investment Hire
 purchase, Leasing, trading, and to finance operations, of all kinds
 including lease, Hire purchase and all forms of immovable properties
 including land and buildings and movable properties including plant
 and
 machinery, equipments, ships, vessels, hotel, equipments, medical
 equipments, air conditioners, air conditioning plants, office
 equipments, computers construction machinery, furniture and fixtures,
 electronic equipments, aeroplanes, helicopters, house hold equipments
 and appliances, automobiles, motorcycles and other two Wheelers
 and other consumable durables, commercial and industrial goods and
 otherwise deal with the aforesaid items in any manner whatsoever
 including resale thereof regardless of whether the property purchased
 or leased being new and/or used.
 
 2. To advance, deposit or lend money, security and properties to/or
 with any company, body corporate, firm, person or association and to
 acquire and hold and otherwise deal with shares, stocks, debentures,
 bonds, obligations and securities, issued or guaranteed by any
 Company or any
 Government, sovereign, ruler commissioners, public body or authority
 supreme municipal, local or otherwise whether in India or abroad, and
 to invest and deal with monies of the Company in such manner as may be
 determined from time to time, whether falling under the same
 management or otherwise in accordance with and to the extent
 permissible under the provisions contained in Sections 370 and 372 of
 the Companies Act, 1956, with or without securities and on such terms
 as may be determined from time to time. However, the Company shall
 not carry on the business of banking as defined in the Banking
 Regulations Act, 1949.
 
 3. To carry on the business as investors and investment advisors or
 otherwise organise, accept or implement any takeover bids, mergers,
 amalgamations, acquisitions, diversification, rehabilitation or
 restructuring of any business, concern, undertaking, Company, body
 corporate, Partnership firm, or any other association of persons,
 whether incorporated or not by acquisition of shares or assets and
 liabilities, and whether as a going concern, or as a part of the
 concern, or otherwise as may be required having regard to business
 exigencies and to promote or procure incorporation, formation, or
 setting up of concerns and undertakings whether as Company, body
 corporate, partnership or any other association of persons for
 engaging in any industrial, commercial or business activities.
 
 4. To set up, incorporate and manage provide and/or participate in
 providing in venture capital, technology turns, underwriting fund or
 any other funds for seed capital, risk capital foundation, including
 giving
 guarantees or such other financial assistance as may be conducive for
 development of new enterprises, innovative methods of production and
 development of existing and new technologies to identify project
 ideas, to prepare project profiles, project reports, market research,
 feasibility studies and reports, pre investment studies and
 investigation of industries on micro and macro level, to undertake
 appropriate service to identify scope or potential for economic and
 industrial development in any particular geographical areas or
 location whether in India or abroad, to act as lead managers in
 respect of project assignments by undertaking follow up, supervision,
 and
 co-ordination work at the instance, behest or on behalf of banks,
 financial institutions, Companies, body corporates and to monitor the
 same to the participants to act as an advisor in the management of
 undertakings business enterprises, offices, trade, occupations and
 professions by introducing modern methods and techniques and systems
 and
 render all assistance as may be necessary including by acting as
 agents for recruitment of personnel, technical, skilled, unskilled,
 supervisory, managerial or otherwise and to act as an advisor in the
 selection of technical process, economic size, source of plant and
 machinery and other utilities, for business entrepreneurs. 
 
 5. To carry on the business of merchant banking in all its aspects,
 to act as Managers to Issue and offers whether by way of public offer
 or otherwise of shares, stocks, debentures, bonds, units,
 participation certificates, deposit certificates, notes, bills,
 warrants, or any
 other instruments whether or not transferable or negotiable,
 commercial or other paper or scrips (hereinafter collectively
 referred to as Securities), to act as agents of and/or dealers in the
 securities in the
 course of merchant banking business to act as discount house for any
 of the securities to act as financial consultants, joint managers,
 Lead Managers, Co Managers, advisors, and counselors, in investment
 and capital market to underwrite, sub underwrite or to provide stand
 by or
 procurement arrangements, to issue guarantees, and to give any other
 commitments for subscribing or agreeing to subscribe or procure or
 agree to procure subscription to securities, to manage, portfolio
 investments, to provide financial and investment assistance for the
 purposes
 herein, to act as issue house registrars to issue, transfer agents,
 for the securities to manage and administer computer centers and
 clearing houses for the securities, to form syndicates or consortia
 of managers, agents and purchasers for or of any of the securities to
 act as
 brokers, dealers and agents in connection with the securities,
 bullions, and precious metals to syndicates any financial
 arrangements whether in domestic market or international market and
 whether by way of loans or
 guarantees or export and yard credits, to undertake the work of
 factoring of bills and other commercial papers, and to arrange and/or
 co-ordinate documentation and negotiation in this regard.
 
 SUBSIDIARY OF THE COMPANY
 
 The Company does not have any subsidiary.
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • NEWS FLASH EVE : HDFC Bank का Q2 मुनाफा अनुमान से बेहतर
  • NEWS FLASH EVE : मुनाफा `6345 Cr (`6107 Cr अनुमान था)
  • NEWS FLASH EVE : NII `13,515 Cr (`13,887.6 Cr का अनुमान था)
  • NEWS FLASH EVE : मुनाफा `5010 Cr से बढ़कर `6345 Cr (YoY)
  • NEWS FLASH EVE : ग्रॉस NPA 1.40% से घटकर 1.38% (QoQ)
  • NEWS FLASH EVE : नेट NPA 0.43% से घटकर 0.42% (QoQ)
  • NEWS FLASH EVE : प्रोविजनिंग `2614 Cr से बढ़कर `2701 Cr (QoQ)
  • NEWS FLASH EVE : मुनाफा `73.4 Cr से बढ़कर `91.4 Cr
  • NEWS FLASH EVE : NII `810 Cr से बढ़कर `980 Cr
  • NEWS FLASH EVE : ग्रॉस NPA 1.96% से बढ़कर 2.09% (QoQ)

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