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મુકુંદ ઇન્ડસ્ટ્રીઝ ફાયનાન્સ > કંપનીનો ઈતિહાસ > Finance - Leasing & Hire Purchase > કંપનીનો ઈતિહાસ ના મુકુંદ ઇન્ડસ્ટ્રીઝ ફાયનાન્સ - બીએસઈ: 530329, ઍનઍસઈ : N.A

મુકુંદ ઇન્ડસ્ટ્રીઝ ફાયનાન્સ

બીએસઈ: 530329  |  ઍનઍસઈ : N.A  |  ISIN: INE618B01019  |  Finance - Leasing & Hire Purchase

કંપનીનો ઈતિહાસ - મુકુંદ ઇન્ડસ્ટ્રીઝ ફાયનાન્સ
MUKUNDA INDUSTRIAL FINANCE LIMITED was incorporated on 1st February'
 1985, and the Company commenced its business on 1st March 1985.
 
 The Main objects are set out in clause III of the Memorandum of
 Association of the Company which inter alia include
 
 1) To carry on the business of leasing and hire purchase operations
 of all kinds.
 
 2) To carry on the business of investment and trading.
 
 3) To carry on the business of general finance, legal trusts and
 financiers of industrial enterprises.
 
 4) To carry on the business as merchant bankers, portfolio managers,
 underwriters, advisors, consultants to Public Issues.
 
 5) To carry on the business of bills discounting, factoring and in
 general as financiers of industry and business.
 
 CURRENT BUSINESS OF THE COMPANY
 
 The Company is engaged in Equipment Leasing, Hire Purchase Financing
 of motor vehicles, industrial machinery, equipments, etc., since
 incorporation.  The Company is also offering Safe Deposit Vault
 facility at its Corporate Office.
 
 SUBSIDIARY OF THE COMPANY
 
 The Company has no subsidiary Company.
 
 PRESENT BUSINESS OPERATIONS OF THE COMPANY: 
 
 LEASE FINANCE
 
 The Company started its Lease Finance operations in the year 1985 and
 has established for itself a distinct place. Till March 31st 1994 the
 Gross Leased Assets were Rs.473.56 lakhs reflecting a growth of 796%
 as compared to its Gross Leased Assets of Rs.6.52 lakhs in 1985. 
 Lease Financing, in addition to strengthening the bottom line of the
 Company,
 has given a distinctive advantage of tax shelter.  Through well
 planned lease operations, the Company has been able to maintain high
 returns.  The income from lease operations accounted for 75.40% of
 the total income for the year ended 31st March 1994.
 
 The existing lease portfolio includes more than 200 clients with
 sound financial track record consisting of corporate bodies, firms,
 individuals of large, medium and small scale sectors.  This has not
 only resulted in earning high returns, but also helped to build up
 financially sound lease port-folio with minimal incidence of defaults
 &
 recovery cost till date.
 
 ASSETS COVERED
 
 Presently, the Company provides lease assistance for plant &
 machinery, equipment, light motor vehicles, heavy duty vehicles, rigs
 & and consumer durables.
 
 GENERAL TERMS
 
 The lease period ranges between 3 to 8 years depending on the nature
 of the assets leased.  The lease period comprises of Primary &
 Secondary periods.  The Lease finance provided with the lease charges
 termed as lease rentals are realised during the primary period of
 lease & notional
 rentals per annum depending on the lease finance provided are being
 collected as rentals for the secondary period. Personal guarantee &
 collateral security is also insisted upon, by the Company in certain
 cases.
 
 The Company has identified the following areas for expansion of its
 lease operations:-
 
 1) Industrial Leasing of Plant and Machinery preferably used by Small
 Scale & Light Industries.
 
 2) Office automation systems, air conditioners, medical, electronic,
 computer and other equipment.
 
 3) Commercial/fleet vehicles.
 
 4) Non-commercial motor vehicles.
 
 HIRE PURCHASE
 
 The Company's other major operations are in Hire Purchase. The
 company's clientele consists of more than 250 accounts. The Company
 has been increasingly concentrating on Hire Purchase operations in
 transport/automobile sector, plant and machinery and equipments in
 small, medium and large industrial sectors.
 
 As such, the Company, is maintaining a relatively high asset based
 security, which has enabled to maximise its returns.  Leasing and
 Hire Purchase finance divisions of the Company are very buoyant since
 inception.  The Stock on Hire of the Company which was Rs.2.89 lakhs
 in 1985 has grown substantially to Rs.171.21 lakhs on 31st March
 1994.
 
 ASSETS COVERED
 
 The Company provides Hire Purchase Finance on light motor vehicles,
 commercial & transport vehicles, heavy duty vehicles, rigs, plant &
 machinery, equipment, & consumer durables.
 
 GENERAL TERMS
 
 The Hire Period ranges from a minimum of 12 Months to a maximum of 36
 months.  The Company has formulated various Hire purchase schemes &
 the total finance provided is restricted between 60 to 90% of the
 cost and finance charges varies between 12% to 15% flat p.a. based on
 the
 schemes of the Company.
 
 ARRANGEMENTS FOR FOLLOW UP & RECOVERY
 
 The recovery & follow up matters are presently being supervised by
 the Manager-Operations of the Company, assisted by a Recovery Manager
 with day to day recovery position from the Finance & Accounts
 Departments.  Post dated cheques towards the lease rentals/Hire
 monies are being collected in advance from the lessees in certain
 cases.  The Recovery Committee constituted by the Board, reviews
 every month, the follow up & recovery of the amounts receivable from
 its constituents.  Besides the
 above, the Board has set certain exposure norms to its constituents
 towards extension of credit facilities.  In cases of overdue
 accounts, reminders are sent through Registered Post Acknowledgement
 Due.  On defaults for a period exceeding three instalments, necessary
 legal action for recovery is being initiated & in cases wherever it
 is
 deemed fit, the assets are repossessed.  In view of frequent visits
 being made by the Operations Department, the Company is in receipt of
 first hand information of its constituents.
 
 SAFE DEPOSIT VAULTS
 
 The Company has been operating Safe Deposit Vault in a well situated
 locality in Bangalore since January 1990.  The Safe Deposit Vault
 operations has been a success and has gained confidence of number of
 customers.  The occupancy rate of certain range of lockers is 100%
 and the Company has also been able to mobilise deposits against
 renting of the Vaults.  This is acclaimed as one of the well
 organised 'Vaults' in the non-banking sector in Bangalore.
 
 2002-Mukunda Industrial Finance Ltd has informed that Sri R P
 Agarawal has resigned as director of the company with effect from
 October 9, 2002.
 
 2002-Mukunda Industrial Finance Ltd has informed that Mr R Vijeyndra
 Company Secretary has resigned and he is relieved with effect from
 December 19, 2002.Mr G A P Shivayogi is appointed as the Company
 Secretary and he will be the Compliance Officer.
 
 2009
 -Mukunda Industrial Finance Ltd has appointed Dr. Dilip Rao More as
 Director with effect from May 02, 2009.
 
 2013
 -Mahashree Trading Ltd has Change in Registered Office address :
 C-11/12, Ankur Co-op Hsg. Soc., Kadam Wadi Marg Lane, Marol Pipe
 Line, Andheri Kurla Road, Andheri (East), Mumbai- 400 059.
 
સ્તોત્ર: રેલીગેર ટેકનોવા


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