|The Company was originally incorporated by Shrimati Savita Maheshwari and Mr. Manoj Kumar Agarwal as a Private Limited Company on 28.8.89 in the name and style of' Sumedha Real Estate Private Limited' in the State of West Bengal at Calcutta. It was incorporated with the main object of taking up real estate & investment business.
The Company had nominal equity and not involved in any real estate business till 1992. The company's name was changed to Sumedha Fiscal Services Pvt. Ltd in terms of section 21/22(1) (a)/22 (1)(b) of Companies Act,1956 to reflect the actual business with effect from 19.1.93 and later on converted into Sumedha Fiscal Services Limited in terms of section 21/22 (1) (a)/22 (1)(b) of Companies Act,1956 on 21.3.94 and obtained fresh Certificate of incorporation. Shri Bhawani Shankar Rathi has been associated with the company from 01-03-94. The main object of the company was also amended with effect from 7.3.94
to facilitate the company to carry on Merchant Banking activities. The company has been registered as Category III Merchant Banker with effect from March, 1994.
MAIN OBJECTS OF THE COMPANY
The main objects to be pursued by the company, on its incorporation, as set out in its MEMORANDUM OF ASSOCIATION are inter alia as under:-
1. To purchase, sell, develop, take in exchange or on lease, hire or otherwise acquire, whether for investment or sale or working the same, any real or personal estate including lands, mines, business, building, factories mill, houses, cottages,shops, depots, warehouses, machinery, plant, stock in trade, mineral rights, concessions, privileges, licences, easement or interest in or with respect to any property on interest in or with respect to any property whatsoever for the purpose of the company in consideration for a gross sum or rent or partly in one way and partly in the other or for any other consideration and to carry on business as proprietors of flats and buildings and to let on lease or
otherwise apartments there in and to provide for the conveniences commonly provided in flats, suits and residential and business quarters.
Clauses No. 2 to 7 has been duly incorporated vide Company Law Order No: CLB/ERB/CAL/4 (143) 93 dated 7/3194.
2. To carry on the business of an investment company and for that purpose to obtain membership of stock exchanges and over the counter exchange of India and to acquire hold and otherwise deal in all its aspects of shares, stocks, debentures, bonds, units, participations certificates, deposits certificates, notes, bills, warrants or any other instrnments whether or not transferrable or negotiable, commercial or other paper or scripts (hereinafter collectively referred to as the 'Securities'), to act as agents of and or dealers in the securities in the course of merchant banking business, to act as discount house for any of the securities, to act as financial consultants, advisers and counsellors in investment and capital market, to act as authorised
foreign dealer, to underwrite, subunderwrite, subject to prior approval of SEBI or to provide stand-by or procurement arrangements, to issue guarantees or to give any other commitments for subscribing or agreeing to subscribe or procure or agree to procure subscription for the securities, to manage portfolio investments, to provide financial and to
issue, transfer agents for the securities, to manage and administer computer centre and clearing houses for the securities, to form syndicates for of any of the securities, bullion,s precision matters/ precious objects of any nature, to national market and whether by way of loans, guarantees, exports and yard credits; to undertake the work of discounting, for fitting and or factoring of bills and other commercial
papers, debt securitisations and to arrange and/or co-ordinate
documentation and negotiation in this regard.
3. To carry on the business of merchants of banking in all its aspects, to act as manages to issue and offer, whether by way of public offer or otherwise of securities, to act as administrators or managers of any investments,trusts or exempts funds, provident, pension, gratuity and superannuation funds, charitable funds, unit trusts or consortium to act as trustees for bonds holders, debenture holders and for other purposes
4. To give advise on or to offer, give, take,circulate and/or otherwise
organise, accept or implements any takeover bids, mergers, amalgamations, acquisition, diversification, rehabilitation or restructuring of any business, concern undertaking, company, body corporate, partnership firm or any other association person whether incorporated or not, by acquisition of shares or assets and liabilities and whether as a going concern or as a part of the concern or otherwise as may be required having regard to business exigencies; and to carry on setting up of concern and undertaking whether as company, body corporate, partnership or any other association of persons for engaging in any industrial, commercial or business activity, and given financial or other assistance in India or abroad independently or in association
with any person, government or any other agencies whether incorporated or not, for any business of the company.
5. To set up, provide and/or participate in providing venture capital, technology fund or any other funds for seed capital, risk capital foundation, including giving guarantees or such other financial assistance as may conducive for development of new enterprises, innovative methods of production and development of existing and new technology to identify projects, projects ideas, to prepare projects profile, projects report, market research, feasibility studies and reports, pre-investments studies and investigations of industries on
micro and macro level; to undertake appropriate service to identify scope or potential for economic and industrial development in any particular geographical area or location whether in India or abroad; to act as lead manager in respect of project assignments by undertaking follow up, supervision and coordination work at the instance, behest or on behalf of banks, financial institution, companies, body corporate and to monitor same to the participants to act as an advisors in the
management of undertaking,business, enterprises, offices, trade, occupation, calling or professions by introducing modern method and techniques and systems, and render all assistance as may be necessary including by acting as agents for recruitment of personnel, technical skilled, unskilled, supervisory managerial or otherwise; and to act
as an adviser in the selection of technical process, economic size, sources of plant & machinery and other utilities for business entrepreneurs.
6. To carry on and undertake the business of hire purchase, leasing, factoring, both domestic and International by purchasing (whether with or without recourse), bills discounting etc. to finance lease operations of all kinds and/ or hiring or letting or hire all kinds of plants, machineries, equipments, ship, aircrafts, automobiles, office or house hold equipments. fumiture & fixture, consumer or industrial goods and to lease or otherwise deal with them in any manner whatsoever including purchase or sale thereof whether new or used.
7. To provide custodial services to mutual funds and/or other entitles/agencies and to act as trustees of any deeds constituting or securing any debenture, debenture stocks, other securities and loans and to underwrite subject to prior approval of SEBI execute and manage any other trust and exercise the powers of executors, administrators/ receivers and custodians.
3. PRESENT ACTIVITIES AND INFRASTRUCTURE
SFSL is presently engaged in the areas of Leasing, Underwriting and Issue Management in the capacity of Advisors and Consultants to the Issues. Besides the company is also engaged in other non-fund based services like Loan Syndication, Corporate Advisory Services etc.
4. SUBSIDIARIES OF THE COMPANY
The company has no subsidiary as on the Auditors report dt. 03.11.94. M/S. Capital Resources International Ltd, a Company incorporated on 03.09.93 become a subsidiary on 27.01.95. M/S. Capital Resources International Ltd. had incurred a loss of Rs 11,160/- on a equity capital of Rs.700/- as on 31.03.94
-Sumedha Fiscal Services Ltd has commenced Hyderabad Branch operations from Begumpet, Hyderabad
- Sumedha Fiscal Services Ltd has appointed Shri. Prashant Sekhar Panda has been appointed as Additional Director of the Company with effect from January 24, 2009.