|Capman Financials Limited was incorporated on May 20th, 1993 as a Private Limited Company with the Registrar of Companies, Maharashtra at Bombay at carry out Merchant Banking activities, Project Advisory services and to manage investments. As per the special resolution passed by the shareholders at the Extra Ordinary General Meeting held on October 6, 1994 the Company was converted into a limited company. And a fresh certificate of incorporation was obtained on October 25th, 1994. On conversion, the company's name was changed to Capman Financials
Limited. Capman is engaged in providing Project Advisory services and investments banking activities since inception. The Company is registered with Securities and Exchange Board of India as Category III Merchant Banker from July, 1994. Since then, the Company has undertaken Merchant Banking activities and has underwritten various Public Issues.
The Company has its office in the heart of the business district of Bombay. The office is fully equipped with all necessary equipments like computers, telephones and fax.
EQUITY RESEARCH FACILITIES
The Company has created Equity Research facilities in its office for making investment decisions. The Company has facilities for on-line stock market quotations and has a data base of over 3000 listed companies which is being regularly updated through computer modern system.
MAIN OBJECTS OF THE COMPANY
The main objects of the Company as set out in the Memorandum of Association of the Company are as under:
To carry on the business as financiers to industrials, trading enterprises and financing the public by way of deposits, bill of exchange, handles, promissory notes, advances and carry on business of financing and advancing short term and long term loan and credits to individuals, either on securities such as lands, buildings of part thereof, machinery, plant, chattels, stock, certificates, shares, debentures, government securities, Life Insurance Policies and units stock-in trade or on guarantee or clean without securities on such terms as may seem expedient.
The Company is also pursuing the following objects mentioned in other objects of the Memorandum of Association of the Company as per the Board Resolution passed on 29.07.93 and as per the special resolution of the shareholders passed at the Extraordinary General Meeting held on 26th October, 1994.
To carry on the business of Merchant Banking and portfolio management subject to Securities and Exchange Board of India (merchant banking) Rules and Regulations, 1992 and such other approvals as may be required from other authorities subject to compliance of any other law in this regard . But not to carry on all or any part of Banking business as contemplated by the Reserve Bank of India Act, Banking Regulation Act, 1949.
To carry on the business of an investment company and to buy, underwrite and to invest in and acquire and hold shares, stocks, debentures, stocks, bonds obligation and securities issued or guaranteed by any company constituted or carrying on business in India or elsewhere and debentures, debenture-stocks, bonds, obligations and securities issued, guaranteed by any Government, State Dominion, Sovereign Ruler, Commissioner, Public Body or authority, Supreme, Municipal, local or otherwise or firm or person whether in India or elsewhere and to deal with and turn to account the same.
To carry on business of leasing and financing services advisory and counselling services and to undertake venture capital and portfolio investment for purchase or take on lease or in exchange, hire patents, licenses rights privileges for land, tenements, buildings easement, immovable and movable property.
To act as investment consultant, guarantors of such public issue of shares, debentures or any other securities issued by any company, corporation, municipal Government and Semi-Government authorities.
To carry on the business of manufacturers of computer programmers on owned on hired computer and to set up a data processing centre using computer system and for its purpose to acquire, purchase or take on lease or on hire computer system including computer accessories, computing and management service equipment and to carry on business of data processing, data analysing and selling computer time and to render professional and other services connected with the activities of the computer and to rent out computer system, computing and management
services equipment and to provide service in respect of data processing information processing data preparation and other data processing management information and consultancy services.
COMPANY'S STATUS UNDER RBI DIRECTIONS
The Company is a Non-Banking Financial Company (NBFC) governed by the Non-Banking Financial Companies (Reserve Bank) Directions, 1977, issued by the Reserve Bank of India.
The Reserve Bank of India guidelines on prudential norms for NBFC's are complied with as follows:
The Company has achieved a capital adequacy of 80% as against RBI norms of 8% as on 30th September, 1994.
As per the guidelines, the Company does not account income on non performing assets. As on the date the Company does not have any non performing assets.
The Company shall make necessary provisions for bad and doubtful debts as per the guidelines as and when required.
As per the guidelines, the long term investments are stated at cost and inventories comprising shares and securities are valued at lower of cost or market value. The Company is following the same guidelines.
-Shareholders approved the delisting of its equity shares from Ahmedabad, Hyderabad, Jaipur and Indore Stock Exchanges.