|J K F Finance & Investments Limited was originally incorporated as Indra Keela Financiers Private Limited on 30.05.1991 and converted into a Public Limited Company on 27-07-1994 and thereafter the name was changed as I K F Finance & Investments Limited and accordingly the certificate of change of name was issued on 29.9.1994 by the Registrar of companies, Andhra Pradesh.
The Company is engaged in the field of financial services. The core business of the Company is leasing and hire purchase of commercial vehicles, cars and plant and machinery. The Company has been earning profits since its commencement of business and it declared a dividend of 10% and 15% in 1992-93 and 1993-94 respectively. With a view to
expand its activities in the area of Merchant Banking, Stock Broking and other allied activities, it has already applied for registration with SEBI to act as Merchant Banker.
The Company has registered reasonable growth during the three years of its operation. The Company has deployed Rs.194.68 lakhs in hire purchase and leasing during the year ended 31st March, 1994 compared to Rs.145.78 lakhs during the year ended 31st March, 1993 showing a growth of
33.54% the Company has earned gross receipts of Rs.26.34 lakhs resulting in net profit of Rs.7.81 lakhs for the year ended 31st March, 1994 as compared to gross receipt of 20.53 lakhs and net profit of Rs.3.18 lakhs respectively in the year ended 31st March, 1993. It is to be noted that the company has earned gross receipts of Rs. 38.59 lakhs in the 11 months ending on 28th Feb.'95 leaving a net profit of Rs. 9.26 lacs.
MAIN OBJECTS OF THE COMPANY
The main objects of the Company as set out in the Memorandum and Articles of Association of the Company inter alia include the following:
1. To finance automobiles on hire purchase and leasing
2. To carry on and undertake as its principal business, the business of providing finance, as financiers, lenders, creditors, merchants and investors and to finance advance, lend, invest credit, assist, make loans or deposit money on any goods, articles commodities, produce, assets, securities, vehicles, vessels, gold and properties of all
and every kind either movable or immovable and either indigenous or foreign, against pledge, hypothecation, mortagage, assignment, transfer, lien or any other charge and to draw, make, accept, endorse discount buy, sell, negotiate, execute, guarantee, finance, lend on, advance
against or deal in cheques bills of exchange, promissory notes, bills of lading, receipts, hundies, challans,delivery orders, warehouse - receipts, claims, warrants,coupons, bookdebts, receivables and other negotiable or transferable or mercantile instruments, documents, titles
or securities to or with any Company, body corporate, firm, person, registered co-operative society, or association. However, the Company shall not carry on the business of banking as defined under the Banking Regulation Act,1949.
3. To carry on and to undertake business as financiers and capitalists, to finance operations of all kinds such as managing, purchasing selling, hiring, letting on hire, giving on lease and dealing in all kinds of movable property and financing or hire purchase and leasing contracts relating to cars, lorries, buses, vans tractors, motorcycles, scooters, cycles, wagons, locomotives, earth moving equipments, ships, boats, barges, trawlers and vehicles of all other kinds and descriptions.
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