|Our Company was originally incorporated as a private limited company on March 14, 1997 with the name ÂThe Muthoot Finance Private LimitedÂ under the Companies Act. Subsequently, by fresh certificate of incorporation dated May 16, 2007, our name was changed to ÂMuthoot Finance Private LimitedÂ. The Company was converted into a public limited company on November 18, 2008 with the name ÂMuthoot Finance LimitedÂ and received a fresh certificate of incorporation consequent upon change in status on December 02, 2008 from the RoC.
Merger with Muthoot Enterprises Private Limited
Our Company, along with Muthoot Enterprises Private Limited, filed a composite scheme of arrangement bearing C.P. Nos. 48 and 50 of 2004 under the Companies Act before the High Court of Kerala (ÂScheme of AmalgamationÂ). The Scheme of Amalgamation was approved by the board of directors of our Company through the board resolution dated April 28, 2004.
Pursuant to the approval of the Scheme of Amalgamation by the High Court of Kerala by an order dated January 31, 2005, Muthoot Enterprises Private Limited was merged with our Company, with effect from March 22, 2005 and the High Court of Kerala had instructed all the parties to comply with the statutory and other legal requirements to make the Scheme of Amalgamation effective.
The company on March 22, 2005 filed a certified copy of the order of the High Court of Kerala with the RoC.With the successful implementation of the Scheme of Amalgamation, the undertaking of Muthoot Enterprises Private Limited along with its assets and liabilities was transferred to and vested in our Company.
Key events, milestones and achievements
RBI license obtained to function as an NBFC.
Obtained highest rating of F1 from Fitch Ratings for short term debt of Rs. 200 million.
Retail loan and debenture portfolio of the Company exceeds Rs. 500 million.
Merger of Muthoot Enterprises Private Limited with the Company
F1 rating obtained from Fitch Ratings affirmed with an enhanced short term debt of Rs. 400 million.
Retail loan portfolio of the Company crosses Rs. 10 billion.
RBI accords status of Systemically Important ND-NBFC.
Branch network of the Company crosses 500 branches.
Net owned funds of the Company crosses Rs. 1 billion.
Net owned funds of the Company crosses Rs. 2 billion.
Retail loan and debenture portfolio crosses Rs. 20 billion and Rs. 10 billion respectively.
F1 rating obtained from Fitch Ratings affirmed with an enhanced short term debt of Rs. 800 million.
Overall credit limits from lending banks crosses Rs. 5 billion.
Conversion of the Company into a public limited company.
Fresh RBI license obtained to function as an NBFC without accepting public deposits, consequent to change
Retail loan and debenture portfolio crosses Rs. 30 billion and Rs. 15 billion respectively.
Net owned funds of the Company crosses Rs. 3 billion.
Gross annual income crosses Rs. 5 billion.
Overall credit limits from lending banks crosses Rs. 10 billion.
Retail loan and debenture portfolio crosses Rs. 50 billion and Rs. 20 billion respectively.
Net owned funds of the Company crosses Rs. 4 billion.
Overall credit limits from lending banks crosses Rs. 20 billion.
ICRA assigns ÂA1+Â rating for short term debt of Rs. 2 billion.
CRISIL assigns ÂP1+Â rating for short term debt of Rs. 4 billion.
Branch network of the Company crosses 1,000 branches.
Demerger of the FM radio business into Muthoot Broadcasting Private Limited.
Private equity investment of an aggregate of Rs. 1,575.45 million from Matrix Partners India Investments,
LLC and Baring India Private Equity Fund III Limited.
Private equity investment of an aggregate of Rs. 425.83 million from Kotak India Private Equity Fund and
Kotak Investment Advisors Limited.
- Muthoot Fin - Muthoot Finance launches the Western Union Money Transfer Service.
- Shri M.G. George Muthoot being awarded as Businessman of the DecadeÂ by Shri Vayalar Ravi, Union Cabinet Minister for Overseas Indian Affairs and Minister of Civil Aviation at a glittering ceremony of the World Malayalee Council held on 10th Sept. 2011 at Kochi.
- Asian Businessman of the Year 2011" award conferred upon Shri. M.G. George Muthoot by the UK-Kerala Business Forum at British Parliament London.
- Mr. M G George Muthoot, Chairman, Muthoot Group has been conferred with 'Business LeadershipÂ for the year 2012' at Golden Peacock Awards, Bangalore in the presence of HonÂble Union Minister for Corporate Affairs, Dr M. Veerappa Moily on 20. 01. 2012.
- Business Excellence Award Â2012 The Trivandrum Chamber of Commerce and Industry conferred our Jt Managing Director, Shri George Jacob Muthoot with The Business Excellence Award Â2012. The award was presented by Shri Kunhalikutty, Minister for Industries Information Technology and Urban Affairs, Kerala amid a gathering of eminent dignitaries.
- Dr. Mrs. Sara George, Principal, St.George's School receiving the coveted Award for "Best Principal of the State" for the year 2012.
- 6th Green Schools Programme awards ceremony held on 28th March 2012.
- Muthoot Finance Ltd, IndiaÂs largest gold loan company has announced to launch of its maiden Employee Stock Options Plan (ESOP).
-Muthoot Finance has got the RBI License to start operating 9,000 White Label ATMs.
-Muthoot Finance Branch network crosses 4,400 branches.
-The Muthoot Group was presented with "Emerging Business Leader of the Year" title by Hon'ble Union Minister of Home Affairs, Shri Rajnath Singh at the fifth edition of AIMA Managing India Awards 2014.
-Muthoot Finance has announced that it has acquired 30 per cent stake in Asia Asset Finance in Sri Lanka.
-"Muthoot Finance Ltd successfully completes its Institutional Placement Program".
-Muthoot Finance launches scheme for Kerala customers for Onam.
-Muthoot Finance Ltd joins hands with Yes Bank
-Muthoot Finance launches the website for Muthoot ATMs
-Muthoot Finance Launches Missed Call Service to know the Gold Loan Status
- Muthoot Finance Completes Acquisition of Muthoot Insurance Brokers Pvt Limited