| TCI Finance Limited was incorporated on 29th November,
1973, as a Public Limited Company in the name and style of
"BHORUKA FINANCE LIMITED" at Bombay.
The name of the Company was changed to "TCI FINANCE
LIMITED" with effect from 20th November 1992. The Registrar
of Companies, Maharashtra, has issued a fresh certificate
of incorporation consequent upon the change of name on 20th
November, 1992.
The Company is an existing profit making and dividend
paying company belonging to TCI - Bhoruka group. The
Company's turnover for the year ended 31st March, 94 was
Rs.293.73 lacs. The Company is engaged in the business of
Leasing, Hire Purchase, Corporate Finance, Bills
Discounting, Merchant Banking, Investment Banking,
Corporate Advisory Services. The past performance of the
Company for last 5 years is as under:
MAIN OBJECTS OF THE COMPANY
The main objects of the Company as set out in the
Memorandum and Articles of Association of the Company are
as follows
1. To carry on the business of financing and hire purchase
in all its branches and in any movable and immovable
goods and property of any description and to carry on
business as Mortgage Brokers, Financial Agent and to
do all sorts of financing and guaranteeing business
including hire purchase business.
2. To carry on the business of Capitalists, Financiers,
Concessionaires for merchants, Importers and Exporters,
commercial Traders, Commercial Agents and for purchasing
selling business.
3. To carry on the business of Investment Company and
invest and acquire, hold, sell and otherwise deal in shares,
debenture stock, bonds, obligations and securities issued
or guaranteed by any company or by any Government,
State, public body or authority, whether in India or
elsewhere.
4. To deal with and invest the moneys of the Company in
such manner and upon such securities as shall, from time
to time, be thought necessary or fit for the benefit of the
Company, and to lend, advance or deposit money, securities
and property, with or without charge, interest or security,
to or with such persons or to receive and accept deposits,
advances and loans on such terms and conditions as may
be thought expedient and in that, the Company shall not
carry on the business of banking as defined in Use Banking
Companies Act, 1949.
PRESENT BUSINESS ACTIVITIES
TCI Finance Limited is an integrated finance Company and
the operations include :-
1. Hire Purchase
The Company provides finance under Hire Purchase Scheme to
acquire Cars, Trucks, Light Commercial Vehicles, Plant and
Machinery, Office equipment, Computers, etc. The Company
has outstanding stock on hire to the extent of Rs.1,242.15
lacs as at 31st January '95. The past performance of this
division is as under :-
(Rs. in Lacs)
31.01.95 1993-94 1992-93 1991-92
(10 months)
Hire Purchase Income 137.18 50.50 17.56 9.07
Total Stock on Hire 1242.15 455.38 108.46 80.58
In view of the fact that the Company is going in for branch
expansion in several towns where there is more potential
for Hire Purchase of vehicles.
2. Leasing
The Company provides Lease Financing covering Commercial
Vehicles, Plant and Machinery, Computers etc. The Company
has leased assets to the tune of Rs.907.93 lacs as on
31.01.95. The past performance of this division is as
under:-
(Rs. in lacs)
31.01.95 1993-94 1992-93 1991-92
(10 months)
Lease Income 176.28 65.48 40.59 14.34
Total Leased Assets 907.93 417.03 185.10 59.36
The Company proposes to increase its leasing business in
order to achieve a higher level of operations and take
advantage of the consequent tax benefits.
3. Investments
The Company has been investing funds in securities since
its inception. The investment decisions are made by the
Board of Directors. Investments have been divided among
Government Securities, listed Companies and non-listed
Companies to diversify the risks and assure a good return
on investments. As on 31.01.95, total investments of the
Company stood at Rs.545 lacs (cost price) and its market
value was Rs.597 lacs.
The details as on 31/3/94 of the amount of investment made
by the Company in the shares of the group companies are
given below:
Sr no. Name of the Company No. of shares Face Value
(shares quoted)
1. ABC India Ltd 2,56,200 10
2. Bhoruka Financial Services Ltd 19,350 10
3. Bhoruka Gases Limited 31,478 10
4. Bhoruka Steels Limited 49,360 10
5. Transport Corporation of India Ltd 7,45,762 10
6. KIAT Mktg. Ltd 8,400 10
(shares unquoted)
7. Bhorucom Software (P) Ltd 1,000 100
8. Bhoruka Goldhofer Trailers Ltd 750 100
9. Bhoruka Investment Ltd 2,25,000 10
4. Corporate Finance and Bills Discounting
The Company has been financing small, medium and large
Companies by way of Inter Corporate Deposits and
discounting of trade bills. The past performance in this
Sector is as under:
(Rs in Lacs)
31.01.95 1993-94 1992-93
(10 months)
Income from Bill Discounting 77.48 8.58 1.33
Trade Bills Discounted 182.85 136.00 12.00
5. Merchant Banking
The Company obtained registration as a Category-I Merchant
Banker from the Securities and Exchange Board of India with
effect from 16.06.94. Underwriting has been extended to
about 100 issues and currently the Company is handling 15
Public Issues as Lead Managers.
None of the issues so far underwritten by the Company have
devolved.
6. Corporate Advisory Services
The Company is engaged in advising corporates on project
planning and appraisal, Capital structuring, Loan
Syndication, and planning of Capital issues.
2008
-TCI Finance Ltd has created an e-mail ID of the grievance redressal division / compliance officer: com_sec_dept_ho@gati.com
2010
-TCI Finance appointed Ms.Vibha Shinde as the Company Secretary and Compliance Officer.
2011
-TCI Finance has inducted Mr. J. P. Khemka in to the Board and has been appointed as Executive Director of the Company.
2012
-TCI Finance appointed Ms. Radhika Somani as Company Secretary of the Company.
|