|Aryaman Financial Services Limited was incorporated on 11th May, 1994 in the Registrar of Companies, National Capital Territory of Delhi and Haryana and obtained the Certificate for Commencement of Business on 16th June, 1994. The Company is classified as a Loan Company by RBI
under the Non Banking Financial Companies (Reserve Bank of India) Directions, 1977.
BRIEF NOTE ON THE COMPANY'S PRESENT ACTIVITIES
The Company was incorporated on 11th May,. 1994 and received the certificate for commencement of business on 16th June, 1994. Its actual operations started on 25th July, 1994. In this short span the Company has carved niche areas for itself and is already known for its professionalised and fast services. The Company's present activities are:
1. The Company is a One Stop Shop Company for Project related Services functioning on a Polyclinic concept. It has a team of qualified professionals with experience in Finance, Engineering, Banking etc. The Company provides services which include identification of projects based on financial health of each entrepreneur, preparing of project
and market report, conducting viability studies and arranging for tie up of funds from All India level Financial Institutions and Banks. Besides, the Company will also assist in locating suitable manpower to handle the projects, project finance and fund management and finally
helping in implementation of the project. For this the Company, on a 'Polyclinic' concept, will keep panel of experts industry wise and call them and arrange expert guidance to the entrepreneur. However, the Company also has professionals with requisite experience in handling
large projects on its rolls for co-ordination.
Since the Company commenced operations, it has undertaken the activities of preparation of brief project profiles for profitable businesses, preparation of detailed project and market reports, syndication of Project Finance.
An agreement, subject to Government approvals, if any, has been entered into with World Wide Business Connections, Inc., USA (WBC) for sourcing entrepreneurs abroad by WBC for joint venture projects in India by Indian entrepreneurs to be identified by Aryaman Financial Services Ltd., with or without financial participation and/or technology
2. The Company's thrust area is the hitherto unexplored activity of making sick units viable. The Company conducts viability studies of units which have gone sick for reasons of management and/or finances and cannot be revived by the existing promoter(s) and prepares viability reports. It then scouts for financially sound Indian or Non Resident
Indian entrepreneurs, established or budding, who have the capabilities to revive the unit for merger, acquisition and reorganisation of the same. The Company plans to send a team of professionals to Gulf and other parts of the world and sell these projects, as these are otherwise viable with good management and provision of working capital. This will
give foreign entrepreneurs a ready made platform to start the unit without any gestation period.
The Company has already identified sick/loss making units in cement, spinning, weaving & textiles, engineering, solvent extraction, global unit, ball beading unit and leather and prepared viability reports for the same in order to arrange for their rehabilitation through take
over of such units by financially sound entrepreneurs:
Out of the above, the Company has already assisted in the take over of one cement unit located in South India and one solvent extraction unit located in Madhya Pradesh. For others, negotiations are in advanced stages.
3. The Company has set up an Equity Research department which carries out research mainly in the core sectors and in the fields of Indian economy, Global economy, Industries, companies, various kinds of securities, the stock markets, fresh issues of capital, Governmental
regulations etc. and publishes research papers on various aspects as above. This department works in close co-ordination with the Projects and Investment Banking departments. The Company has already acquired necessary software for this purpose besides subscriptions to a host
of journals, magazines etc.
4. Software Development and Consultancy is another area where the Company is actively engaged in, with some well known corporate names as its clients. It has already developed software for three clients--one in the financial services, one in the banking sector and one in the cement industry.
5. The Company placed an inter corporate deposit of Rs. 20 lacs and also discounted a bill of Rs. 10.40 lacs during the period upto 30.9.94. These transactions generated interest income of Rs. 1.10 lacs.
6. During the period upto 30.9.94 the Company purchased shares of listed companies of Rs. 21.56 lacs and sold some of these shares for Rs. 4.70 lace giving a profit of Rs. 0.80 lacs.
The Company is presently operating from its Corporate Office at 401-A, Poonam Chambers, 'A' Wing, Shiv Sagar Estate, Worti, Bombay. The Company has already acquired office premises at Nariman Point (35, Atlanta Building), Bombay which is presently under furnishing. The
Company has also taken premises on rental basis at vile Parle-East (3, Jerome villa, Makarand Ghanekar Marg), Bombay to carry out support services.
SUBSIDIARY OF THE COMPANY
The Company does not have any subsidiary.
- Aryaman Financial Services Ltd has appointed Shri. Shripal S Shah, as an additional Director of the Company to hold office upto the date of next Annual General Meeting.