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Karnavati Finance Ltd. Company History and Annual Growth Details

The Company History are:

The company was originally Incorporated as Karnavati Finance And Leasing LimitedÂ at Mumbai on December 5, 1984 and received certificate of commencement on May 7, 1985 by Registrar of Companies, Mumbai. The name of The Company was changed to "Karnavati Finance Limited" on December 11, 1989. The Company is a NBFC registered with RBI to carry on NBFC activities under Section 45IA of the Reserve Bank of India Act, 1934 bearing certificate no. 13.00064 dated February 24, 1998.In the year 2001-2002, the company was taken over by present promoter Mr. Raman Morzaria by acquiring 2,51,000 Equity Share at Rs 10.50 per equity Shares from Mr. Rajnikant Worah and his associates via share purchase agreement dated May 10, 2001. The Company mainly involved in business loans and personal loan. The loan products are customized to the equirements of our borrowers, broadly classified as:
A. Business Loan B. Personal finance

Major Events are:

1984
- Incorporation Of Our Company as Karnavati Finance & Leasing Limited

1986
- Certificate Of Commencement of Business

1990
- The Name Of The Company Change from Karnavati Finance & Leasing Limited to Karnavati Finance Limited

1998
- RBI approval to carry on NBFC Activities

2002
- Change In Management
- Company Acquired By Mr. Raman Morzaria, existing Promoter

2015
-The equity shares of Karnavati Finance Ltd (Scrip Code: 538928) are listed and admitted to dealings on the Exchange in the list of 'MT' Group Securities.

2016
-Karnavati Finance Ltd Approval of Full Fledged Money Changer's License from the Reserve Bank of India.

2023
-The Company has splits its face value from Rs. 10/- to Rs. 1/-.

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