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Gemmia Oiltech (India) Ltd. Company History and Annual Growth Details

RAM KAASHYAP INVESTMENT LIMITED was incorporated on 3rd December, 1993 as a Public Limited Company under the Companies Act, 1956. The Company was promoted by Mr. A. Venkatramani and Mr. Gyan Jain.

Finance is the life blood of our economy and is a prerequisite for the rapid growth and vibrancy of our enterprise. It is with this critical resource, the Company has begun its mission. After extensive market analysis the Company has identified retail financing as offering the most attractive opportunities and rewards. The retail focus should also impart a cutting edge in business where direct contact with the large number of consumers will prove decisive in the diversification loans of the Company.

India with its burgeoning population of middle class with a growing purchasing power to acquire a variety of consumer goods to ensure a better quality of life. These are the people whose financial needs the Company hope to service at the competitive cost.

The Company has already commence the operations, and the performance of the Company for three months ending 31st March, 1994 has been satisfactory and the Company has also recommended dividend of 18% pro rata in its first year of operation itself. The HP disbursements for the year ended 31st March, 94 amounted to Rs.31 lakhs. The lease and HP disbursements for the period ending 30th September, 1994 amounted to Rs.67.38 lacs and bill discounting to the extent of Rs.104.89 lacs.

With this vision the Company is fully engaged in Consumer durable financing in Association with Videocon Leasing and Industrial Finance Ltd. at present. With the same objective of helping the middle class customer, the Company has just launched a novel scheme for financing second hand cars and gensets.