Motor & General Finance Ltd. Company History and Annual Growth Details

YEAR EVENTS
1930 - Motor and General Financial Limited was incorporated at Delhi.
The company grants finance against motor vehicles on
hire-purchase system. It acts as a dealer for Tata Benz vehicles
for Kerala and a part of Madhya Pradesh. It is also undertaking
leasing business.

1981 - 10,000-14.28% and 50,895-10% preference shares were converted
into 25,000 No. of equity shares and 50,895 No. of equity shares
respectively.

1983 - The Company issued 5,00,000 secured Redeemable Non-Convertible
Debentures of Rs 100 each aggregating Rs 5 crores to the existing
shareholders on a rights basis.

1984 - The Company signed a joint venture agreement with International
Finance Corpn., Washington for starting leasing company called
India Lease Development, Ltd.

1985 - Approvals from the Government of India, Ministry of India and RBI
were received.

- In January, the Company iossued 5,00,000-15% secured redeemable
non-convertible debentures of Rs 100 each at par as rights to
shareholders in the ratio 1:5 and also by way of private
placement. The issue was oversubscribed and the Company allotted
20,611 additional debentures to retain the excess subscription.

1992 - As per sanction received from BIFR, NAP was merged with the
company effective 1.4.1991.

1995 - The Company received registration as catgory I Merchant Banker.

2000 - ICRA Ltd. and Duff & Phelps Credit Rating India Pvt. Ltd. have
revised their credit ratings to `MA-' and `IND A-'.

- Mr. S.K. Singh has resigned from the directorship of the company.

2001 - ICRA has placed the fixed deposit ratings of MA-, assigned to the Motor &
General Finance Ltd., MGF (India) Ltd.
2002

-Lalit Gupta appointed as Additional Director of Motor & General Finance.

2003

- The undernoted Directors will be retiring by rotation: 1) Mr. Rajiv Gupta 2) Mr. Bharat Kumar 3) Mr. Arun Mitter.

2004

-The shares of Motor & General Finance Ltd delisted from Delhi Stock Exchange Ltd

2008

- Motor & General Finance Ltd has appointed Mrs. Arti Gupta, Director as Joint Managing Director of the Company for a period of three years effective from June 05, 2008 to June 04, 2011.

2009

- MGF Services Ltd have informed the acquisition of shares of The Motor & General Finance Ltd.

- Have allotted 277 equity shares to the shareholders of transferor companies, namely NAP Sales Private Limited and Janata Cinemas Properties & Finance Limited in the ratio as mentioned in the Scheme of Amalgamation.

2010

-Board has recommended a dividend of Rs.2/- per equity share i.e. 20%.

2011

-Board has recommended a dividend of Rs.1.50 per equity share of Rs. 10/- each i.e. 15%.

2020

- Company has splits its face value from Rs. 10/- to Rs. 5/-.

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article