|Akanksha Finvest Limited (AFL) was incorporated on 17th June, 1993 as a Public Limited Company under The Companies Act 1956, with its registered office at New Delhi. The certificate for commencement of Business was obtained on 9th July, 1993. The Company was promoted with the main object of providing various financial services, it is presently engaged in the following:
i. The Company is already engaged in leasing of Heavy Motor Vehicles and proposes to enter into Leasing of industrial equipments and Plant & Machinery with a focus on heavy and light motor vehicles, energy efficient devices and pollution control equipments. Its present lease portfolio is performing satisfactorily with no defaults. The fund requirement for Leasing in the first year is estimated at 100 lacs. Initially the Company would be deploying a part of its resources in
leasing with more of tax planning objectives. The Company management has good contacts with prominent industrial groups in Delhi, Haryana & U. P. and intents to deploy this amount in leasing at competitive rates. The Company's policy would be to minimise credit risk by spreading the number of lesees and going for health code I parties, even if it means lower margin of profit.
2. Equity Trading:
The Company is active in the primary and secondary equity market, based on detailed research of companies and industries. The Company identified the scrip for short term & long term investments. The investment scripwise are revived periodically, to ensure that they are within the parameters of the Company, which are laid down as part of the risk management systems and also to aid 'buy/sell/hold' decision making.
3. Equity Research:
The Company has developed a full fledged research team headed by Mr. Suresh Garg, FCA, member Delhi Stock Exchange Association Ltd. and assisted by Mr. Vijay Agarwal, ACA and support staff which currently focuses on various industries and companies for specific investment opportunities. This team uses a large data base of Company reports stock market bulletins, economic and industrial forcasts, corporate newsreports to technical and fundamental analysis of scrips. It has helped in maintaining a steady information flow to various institutional investors, as part of the overall distribution efforts of the Company.
4. Loan Syndication:
The Company is presently engaged in syndication of Loans, Lease, Intercorporate Deposits and other non-fund based activities. The Company has already syndicated ICD's to the tune of Rs. 135 lakhs for leading companies like Shaw Wallace & Co. Ltd., Kajaria Ceramics Ltd. etc.
- Akanksha Finvest Ltd has appointed to Mr. Rajesh Sharma, as Independent additional director in the Board w.e.f. January 16, 2010.
- Akanksha Finvest Ltd has informed that the Board of Directors of the Company at its meeting held on January 29, 2010, has appointed Mr. Manoj Kumar Jain as an Independent Additional Director w.e.f. January 29, 2010.