Rich Universe Network Ltd. Company History and Annual Growth Details

BRIEF HISTORY OF THE COMPANY

The company was originally incorporated as Rich Hire
Purchase Ltd. on 16th July, 1990 and Certificate of
Commencement was obtained on 21.8.90. The name of the
company was subsequently changed to Rich Capital & Financial
Services Ltd in terms of Special Resolution passed at
Extra-Ordinary General Meeting held on 18.9.93 and a fresh
certificate of incorporation was issued on 4.10.1993. The
company has completed 4 years of operation. Its main
activities have been leasing hire purchase and portfolio
investment.

The company is engaged in the business of hire purchase,
leasing and finance since its incorporation. The company has
also been engaged in giving loans against securities. The
company is also engaged in trading of securities.

MAIN OBJECTS OF THE COMPANY

The main objects to be pursued by the Company on its
incorporation are

1. To carry on all or any of the business of or usually
carried on by Hire Purchase Companies for domestic articles,
motor vehicles and to lend money (not amounting to banking
business) on personal security or on the security of
leasehold and freehold land and advance money to persons
firm or companies and upon such terms and conditions as may
seem expedient, subject to Money Lending Act and subject to
directives of RBI.

2. To do business of financiers subject to the Banking
Regulation Act 1949 and to invest subscribe for acquire,
buy, sell, underwrite hypothecate, deal in and dispose of
any shares bonds, certificates, receipts ,properties. The
Company shall also not carry on any activity prohibited
under Prize, Chits & Money Circulation Scheme (Banking) Act,
1978.

PRESENT BUSINESS OF THE COMPANY

The Company is a Non-Banking Financial Company (NBFC)
presently engaged in the business of providing lease & hire
purchase finance loans & advances, and trading of
securities. The company has been into operations since 1990
and has been actively involved in hire purchase and lease
finance. The hire purchase stock of the company was 3.19
lakhs, 1.96 lakhs, 1.61 lakhs and 1.61 lakhs in
1992,1993,1994 and on 30th September1994 respectively. The
leased assets of the company were 20.00 lakhs in 1994 and
25.35 lakhs as on 30th September 1994.The company is also
engaged in providing loans against securities.The loans
against securities were 10.44 lakhs, 9.91 lakhs, 38.35 lakhs
and 104.33 lakhs in 1992, 1993, 1994 and as on 30th
September 1994 respectively.

SUBSIDIARIES

The Company has no subsidiary at present.Â

2011

-Company has changed its name from Rich Capital And Financial Services Ltd. to Rich Universe Network Ltd.Â

2014

-Rich Universe Network Ltd has been appointed as Company Secretary cum Compliance Officer of the company.Â

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