Kumbhat Financial Services Ltd. Company History and Annual Growth Details

1993
-The company was incorporated as a Public Limited company on 18th February and obtained the certificate of commencement of business on 2nd March, 1993.

-Kumbhat Financial Services Limited (KFSL) is a company promoted by the House of Kumbhats, which has been in Electrical Industry and trade for over four decades and headed by Mr. Shanti Kumbhat and assisted by Mr. Ashok Kumbhat and Mr. Ajit Kumbhat,Chartered Accountants and partners of M/s. Kumbhat & Co., Chartered Accountants, Madras.

-The company is presently active in the fields of lease/hire purchase.

1995
-The Company made a successful public issue of 24,50,000 No. of Equity shares in February and allotted the shares in April in consultation with the Madras Stock Exchange.

1996
-During the year, the company finalised and allotted 24,50,000 No. of equity shares of Rs.10/- each in consultation with various authorities. Consequently the paid up equity capital of the company stands at Rs.475 lakhs.

-During the year, one of the directors of the Company, Mr S.P. Vairavan Chettiar passed away.

-The company along with three other companies has provided "Safety Net" to the individual investors of M/s Arvind Remedies Ltd.

-Under the "Safety Net" agreement, interalia, the company is required to purchase equity shares of Rs.10/- each at a premium of Rs.20/-per share issued by M/s Arvind Remeides Ltd., at a pre- determined purchase price of Rs.32/-, as and when offered by the individual investors.

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