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YEAR EVENTS
1986 - MFCL is an Arvind Mafatlal group Company, promoted by Mafatlal Industries Ltd.,
which has also promoted NOCIL, PIL, Mafatlal Fine Spg. & Mfg. Co. Ltd. and Gujarat
Gas Co. Ltd. The Company was originally incorporated on 20th October, in the State
of Maharashtra as a Private Limited Company. Subsequently, the Company became
a Deemed Public Company under section 43A of the Act, on 11th September 1987 by
virtue of holding of its shares by another Public Company.
1992 - By a Special Resolution passed on 3rd July the Company was converted into a
Public Limited Company. MFCL is an existing profit making and dividend paying
Company and is engaged in setting up a comprehensive one roof financial supermarket.
It offers a wide range of financial services in the areas of leasing, hire purchase, bill
discounting, merchant banking, corporate advisory services and investments.
- MFCL (through its wholly owned subsidiary-Mafatlal Securities Ltd.) is also a Member of
National Stock Exchange for wholesale debt instruments as well as equities. It is also a
member of the OTCEI and a registered Category I Merchant Banker.
- MFCL commenced leasing and hire-purchase financing activities in September.
1993 - MFCL has received authorisation from SEBI to act as Category I Merchant Banker with
effect from February.
1995 - Consumer Finance Division was set up towards the end of the financial year. It became
active with the booking of Maruti 800 & Cielo cars.
- The credit rating for Public Deposits of the company has been ungraded from FA to
FAA(-) indicating the shift from "adequate" to "high safety".
- The Company had issued 60,00,000 No. of equity shares of Rs.10/- each for cash at a
premium of Rs. 20/- per share on Rights basis to the existing shareholders, which were fully
subscribed and paid up as of 31st March.
- The Company also issued on preferential basis 68,50,000 No. of equity shares of Rs. 10/-
each for cash at a premium (on 49,50,000 shares Rs. 20/- per share and on 19,00,000 shares
Rs. 40/- per share) to M/s. Ensen Holding Limited, a Promoter Group Company.
- During the year under review the Company went to Public, offering 80,00,000 No. of equity
shares of Rs. 10/- each for cash at a premium of Rs. 40 per share aggregating to Rs. 4000
lakhs. The Company had made allotment of 80,47,300 No. of equity shares to the Public
on 24.12.1994. The additional 47,300 No. of equity shares were considered for allotment
in order to help rounding off as per the scheme of allotment approved by the Bombay
Stock Exchange.
- The Company had also reserved 11,50,000 equity shares of Rs. 10/- per share, to
Promoters' Group in the prospectus issued by the Company.
1996 - The Company will be entering into Mutual Fund sector.
1997 - The Company came out with a Public Issue of NCDs aggregating Rs.3000 lacs
which was subscribed.
1998 - During the year under review, the Company issued and allotted 8,20,700 - 14.5%
Redeemable Cumulative Preference shares of Rs. 10/- each, fully paid up,
aggregating to Rs. 82.07 lacs, on private placement basis.
- Shri N. K. Parikh, Managing Director of the Company has retired on 21st June on the
expiry of his 5 year term.
1999 - The Company has created a separate division to strengthen collections and to deal
with the legal issues arising thereof. Collections division has been responsible for
keeping the receivables under control inspite of a sharp deterioration in the financial
health of a number of small and mid-size companies.
2000 - The shareholders of Mafatlal Finance Company have approved the allotment
of 22,31,700 shares of the company to ICICI at Rs 10 each, 25 lakh shares to ICICI
Banking Corporation at Rs 10 each and 1.5 lakh shares to Dhanalaxmi Bank at
Rs 10 each.
2009
- Mafatlal Finance Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 22, 2009, has appointed the following persons as Directors of the Company:
Mr. A K Mahajan as a Nominee Director of Debenture Trustee in the place of Mr. A P Mohanty.
2. Mr. Tanveer Shaikh as Director.
-Company has changed its name from Mafatlal Finance Co Ltd. to Hybrid Financial Services Ltd.
2011
-Registered Office of the Company has been shifted To 35, A-Wing, Raj Industrial Complex Premises Co-op Society Ltd., Military Road, Andheri (East) Mumbai - 400059.
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