|The Company was incorporated in the name of Ashirwad Trading and Finance Limited on 3rd May, 1985 under the Companies Act, 1956 as a Public Limited Company by the Registrar of Companies, Maharashtra. The Company was originally promoted by Shri Vinodkumar Bukalsaria, Shri C.P. Maheshwari and Shri N.K. Galav and others. Shri Bukalsaria, Shri Maheshwari and Shri Galav have resigned in 1986-87 and Shri Arvindkumar
Poddar, Shri Shrikrishna Poddar, Shri Pramod Kumar Poddar and Shri Vinod Kumar Poddar have been appointed as Directors of the Company. Thereafter all these Directors have resigned in 1986-87 and Shri Ramprasad Poddar, Shri Dinesh Kumar Poddar, Shri Rajesh Kumar Poddar, Smt. Shilpa Poddar and Shri Vishwanath Harlalkar were appointed as directors and continuing as such.
The name of the Company was changed to Ashirwad Capital Limited vide fresh Certificate of Incorporation dated 26th September, 1995 issued by the Registrar of the Companies, Maharashtra.
The company has made maiden public issue in August 1985 of 3,00,000 Equity Shares of Rs.10/- each for cash at par aggregating Rs.30,00,000/-.
The said Issue was fully subscribed and the Equity Shares have been listed at the Stock Exchange, Mumbai.
The Company has applied to Reserve Bank of India for registration as Non-Banking Financial Company and hope to get the registration soon.
The Company is engaged in the business activities of Trading, Investments and Intercorporate Deposits.
ASHIRWAD CAPITAL LIMITED is in the financial services business for last 10 years. The Company is engaged in the business of trading in fabrics, investment in Shares and Securities and Intercorporate Deposits.
The Companies in the financial services sector need to have access to low cost funds so as to offer competitive interest/discounting rates to its valued customers. Further, finance companies need to evaluate the credit worthiness of potential customers and assess the credit
risks attached to various proposals so as to ensure that there are no defaults in recovery of credits. Timely receipt of outstandings and redeployment is necessary to sustain the operations of finance companies.
- Ashirwad Capital Ltd has appointed Mr. Piyush Shah as additional director on the board in independent category of the Company.
-The Company has issued Bonus Shares in the Ratio of 3:5.