| YEAR EVENTS
1980 - The Company was incorporated on June 11, 1980 in the name of
Aravali Traders a Investment Company Ltd., Subsequently, the name
of the company was changed to Aravali Leasing Ltd. in Oct. 1985.
It was promoted by Rayan Kumar Poddar.
1992 - The Company issued 8,32,650-12.5% debentures of Rs 200 each on
Rights basis in proportion 1 deb: 5 shares held only 7,55,936
debentures taken up. 77,714 debentures remained unsubscribed.
- 1000 debentures were issued to the employees on Pref. basis.
Also another 7,57,896-12.5% debentures of Rs 125 each were issued
through prospectus to the public.
- Rs 200 of the face value of each debentures was converted into
10 equity shares of Rs 10 each at a premium of Rs 10 per share.
Accordingly 75,59,360 shares were allotted. Rs 125 of the face
value of each debentures was converted into 5 equity shares of Rs
10 each at a premium of Rs 15 per share. Accordingly 34,31,040
shares were allotted.
- The Company was adversely affected due to the credit squeeze
announced by the Reserve Bank of India between May, 1991 and
October, 1991 and increase in the interest charged by the Banks.
1993 - The company proposed to set up an Asset Management Company with a
view to set up a Mutual Fund during the year.
- The Company has started an export division under the name and
style of Aravali International for merchandise export.
- The Company has decided to launch a fixed deposit scheme in a big
way for the public at large on the terms and conditions as
stipulated by the Reserve Bank of India.
1994 - The performance of the Company was severely affected due to
sluggish market conditions and recessionary trends prevailed in
the whole South East Asia.
- The company proposed to expand its existing business activities
in the areas of leasing, bills discounting and investment.
- The Company issued 1921150-14% secured redeemable non-convertible
debentures of Rs 100 each on private placement basis. They are
redeemable at a premium of Rs 5 per debentures in three equal
instalments at the 7th, 8th & 9th year from the date of allotment
i.e. 17.10.1989.
- 32,02,500 No. of equity shares of Rs 10 each allotted to
promoters. Another 9,60,750 bonus shares issued in prop. 3:10.
109,90,400 No. of equity shares allotted on conversion fully
converted debs.
- The company has opened a full-fledged branch at Karnal which has
done business of Rs.31.54 lakhs.
- The Company has also started a division for investment in shares
and securities. The Company has entered into a strategic
alliance with M/s. Narendra Kumar Pasari, Member Delhi Stock
Exchange, for this activity.
- The Company has started mobilising Fixed Deposits from the public
at large on the terms and conditions as stipulated by the RBI.
- New Delhi issued a fresh Certificate of Incorporation consequent
upon the change in the Company's name on 4.5.94 from which date
the name of the Company stood changed to to "ARAVALI SECURITIES
AND FINANCE LIMITED".
1995 - Another 200 shares allotted of the FCD.
- The Company is diversifying its activities and has floated
independent companies for establishing hotels at Ajabgarh and
Udaipur in Rajasthan.
- The Company has decided to close its export division which has
not faired well in the last financial year, ended 31.3.1995.
1996 - During the year the company has suffered loss on account of its
share trading activity because of sluggish market trend.
1998 - The availability of finances to the non-banking financial
companies has been affected substantially.
- The Company along with other NBFCs is facing a financial crunch
which in turn is affecting its business.
- The Company being engaged in the financial services and trading
does not have any energy utilization or technology absorption.
1999 - The Company being engaged in the financial services and trading
does not have any energy utilization or technology absorption.
- Of the Equity Shares 14,94,500 Shares were allotted as fully
paid-up Bonus Shares by capitalisation of Reserves and Surplus in
Profit and Loss Account in earlier Years.
- 2272(2272) 12.5% fully convertible debentures of Rs. 125 each
allotted on 25th January, 1993 have not been converted into fully
paid equity shares since allotment money has not been received.
2009
--Registered Office of the Company has been shifted to Sirpur House, Plot No.39, Sector 44, Gurgaon-122009, Haryana
2010
-Aravali Securities & Finance Ltd has appointed Sh. Jiten Oberoi as Chief Financial Officer of the Company.
2014
-Mrs. Malvika Poddar has been appointed as Director of the Company.
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