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Avasara Finance Ltd. Company History and Annual Growth Details

1994
-TRC Financial Services Limited was incorporated on 24th of May, under the name of TRC Financial & Management Services Private Ltd and converted into Public Limited Company on 12th October.

-TRC Financial Services Ltd. has been promoted by Mr. T R Chadha a Chartered Accountant
having an experience of over 48 years and by Mr. Prem Nath Anand, a NRI businessman based in London, United Kingdom.

-The name of the Company was changed to TRC Financial Services Limited on 8th November,
to bring the name of conformity with the main activities of the Company.

1996
-The Company, in January 1995, came out with a public issue of 11,10,000 No. of equity shares of Rs. 10 each for cash at par, which was oversubscribed by more than seven times.

-The allotment was made on 21st March 1995 for 17,70,900 No. of equity shares which included 6,60,000 No. of equity share alloted on firm allotment basis to the Mutual Funds, Banks and NRIs.

-The Company has launched its Merchant Banking Division with its appointment as Co-Managers to the Rs. 800 Crores Bond Issue of The industrial Finance Corporation of India Ltd.

- Credit Analysis and Research Ltd. (CARE) has assigned the company with BBB (Triple B) rating to its Fixed Deposit Schemes.

- Mr. Sumant Chadha, Mr. Prem Nath Anand and Mr. Kapil Sibal, the Directors of the Company retire by rotation at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

1997
-Mr. T.R. Chadha, Mr. V.K. Laroia and Mr. Anuj Anand, the Directors of the Company retire by rotation at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.

1998
- Mr. V. K. Laroia, one of the Directors of the company, left for his heavenly abode on 4th May.

1999
-The company has been granted a fresh registration by the Reserve Bank of India in terms of Section 45- IA of the RBI (Amendment) Act, 1997. The company has also been reclassified as "Equipment Leasing and Hire Purchase Finance Company" from its earlier status of "Loan Company".

2000
-The Board of the company has approved the allotment of 10,00,000 No. of equity Shares of the face value of Rs 10 each on private placement basis to TRC Securities Ltd.

2001
-TRC Financial Services Ltd has informed BSE that Mr Ashwani Gupta has been appointed as Manager w.e.f. September 15, 2001under Section 2 (24) of the Companies Act, 1956 by the Board of Directors in their meeting held on September 14, 2001

2003
-The shareholders have approved to delist the shares from Delhi & Jaipur Stock Exchanges.

2004
-TRC Financial Services Ltd has informed that the equity shares of the company have been delisted from the Delhi Stock Exchange Association Ltd.

2008
-TRC Financial Services Ltd has informed that the Board of Directors of the Company passed a resolution by circulation dated December 08, 2008 to appointed Mr. Ajesh Tuli as Additional Director of the Company.

2011
-Registered Office of the Company has been shifted To Bandra Hill View CHS, (3rd Floor), 85, Hill Road, Opp. Yoko Sizzlers, Bandra (W), Mumbai - 40005.

2022
-Company name has changed to Avasara Finance Ltd. from TRC Financial Services Ltd..

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