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Goldcrest Corporation Ltd. Company History and Annual Growth Details

Goldcrest Finance (India) Limited, formerly known as Amulya Holdings Limited, was incorporated as a public limited company under the Companies Act 1956, on 25th February, 1983 and obtained Certificate of Commencement of Business on 10.03.83. The name of the company was subsequently changed to Goldcrest Finance (India) Limited vide fresh Certificate of Incorporation dated 22nd June, 1994. The Equity Shares
of the company are presently listed on the Bombay Stock Exchange.

The company was promoted by the Tanna Family and was engaged in commercial finance activities and investments to a limited extent till November 1993. Thereafter, the company actively commenced corporate finance activities and increased its capital market operations on a professional basis.

The company during the year ended 31st March 1994, which essentially represented the working of the company between January and March 1994, earned a gross revenue of Rs. 111 lacs and posted net profit after tax of Rs. 51 lacs on a paid-up equity capital of Rs. 24 lacs resulting in an EPS of Rs. 21.23. A dividend of 10% was declared by the company
for the year 1993-94.The Equity Capital was subsequently increased to Rs. 96 lacs in April 1994 through a Rights Issue of three shares of
every one share held. Besides the fee-based activities relating to lease syndication and project advisory services, the company also introduced fund-based activities viz. trading and investment in securities, short-term lending and hire-purchase and leasing of plant and machinery. During the year ended 31st March 1995, the company syndicated leases of plant and machinery on behalf of its clients for
an aggregate value of over Rs. 160 crores. The company also disbursed a sum of Rs. 9.40 Crores towards lease and hire purchase of plant and machinery to ensure generation of steady income stream over a longer term.

The gross revenue for the year ended 31st March 1995 amounted to Rs. 693 lacs and the net profit after tax amounted to Rs. 325 lacs on a paid-up capital of Rs. 96 lacs giving an EPS of Rs. 33.81. The company has declared and paid dividend of 20% on the enhanced capital of Rs. 96 lacs, for the year 1994-95.

During the year 1994-95, major emphasis was on establishment of state-of-art infrastructure, systems, policies and procedures for asset lending, investment banking and stockbroking activities. The membership of National Stock Exchange was obtained in the name of the subsidiary,
Goldcrest Capital Markets Limited. Also, additional office premises of about 1,700 square feet were acquired at Andheri, Bombay in July 1995. In March 1995, the first regional Office was established at Bangalore to cater to the needs of the Southern region which provides tremendous
potential for lease, hire-purchase and merchant banking activities.

In February 1995, the Directors recommend issues of Bonus Shares in the ratio of one share for every two shares held. This was approved by shareholders on 19th June 1995 and the Bonus shares allotted on 17th August 1995.

The present authorised capital of the company is Rs. 2000 lacs, with paid up equity share capital of Rs. 144 lacs.

MAIN OBJECTS OF THE COMPANY

To carry on the business of the Investment Company and to buy, underwrite, invest, acquire and hold stocks, debentures, debenture-stocks, bonds, notes, obligations and securities issued or guaranteed by any company or body corporate and debentures, debenture-stocks, bonds, obligations, savings certificates and securities issued or guaranteed by any State or Central Government, public body or authority, municipal, local or otherwise whether in India
or elsewhere.

To carry on business of financing and advancing short-term and long-term loans and credits to individuals, companies or associations of individuals by whatever name called, either on securities such as land, buildings or part thereof, machinery, plants, chattels, shares, debentures, Government securities, stock certificates, like insurance policies and Units, stock-in-trade or on guarantee, to clean without
securities.

2003
-Board approved delisting of its shares from Ahmedabad and Bangalore Stock Exchanges.

2007

-Board recommends dividend of 7.5%

-E-mail ID for Investor Complaints:[email protected]

2011

-Goldcrest Finance India Ltd has proposed 10% (i.e. Re. 1/- per share) Dividend on Equity Shares.

2012

-Goldcrest Finance India Ltd has Recommendation of dividend at the rate of 10% (Re. 1/- per share).

-Goldcrest Finance India Ltd Appointment of Mr. Kishore M. Vussonji as Additional Independent Director of the company.

2013

-Goldcrest Finance India Ltd has Recommendation of dividend at the rate of 10% i.e. Re. 1/- per share.
-The Company has changed its name from Goldcrest Finance (India) Ltd. to Goldcrest Corporation Ltd.

2014

-Goldcrest Corporation Ltd has Recommendation of Dividend at the rate of 10% i.e. Re. 1/- per share.
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