|The Company was incorporated on 6th December, 1991 as Public Limited Company to carry on the business of leasing, hire purchase, investments, banking, money market operation etc. The Company has received the certificate of commencement of business on 30th December, 1991. The Company is an authorised member of NATIONAL STOCK EXCHANGE OF INDIA LIMITED on capital market segment and has received registration from
SEBI as Category I Merchant Banker.
The Company is at present engaged in the financial services activities like syndication of bill discounting, intercorporate deposit etc. and stock brokerage activities.
The main objects of the Company are hilly set Out in the Memorandum and Articles of Association of the Company and also stated elsewhere in this Prospectus. The main object of the Company is as under :
'To do the Business of Finance, leasing, Hire Purchase, in any field of Capital Market, Money and Finance Market, Investment market in any Industrial, Commercial and Government enterprises and consumer fields and others by any method, systems, modes, means etc., that may be
relevent and appropriate from time to time hereto in India or Abroad together with/without any incidental and connected activities, consultancy, advisory services.'.
The Company commenced its operations in 1991 and the activities undertaken were money market operations. Since then the Company has steadily grown and has added expertise in various areas of financial services. It has also developed the requisite systems and infrastructure in line with the market trend and future growth.
MONEY MARKET OPERATIONS (BILL DISCOUNTING & I.C.D's.)
As part of the financial services offered to the clients the Company arranges short term hind by way of discounting the trade bills and placement of Inter Corporate Deposits.
In this segment, the Company has stabilised its operations in a short span and foresees tremendous growth because of the increased usage of such instruments in the Indian money market.
INVESTMENT & BROKING
The Company is engaged in investment in Primary and Secondary Markets. The Company has acquired membership of National Stock Exchange. The Company proposes to engage in the business of corporate broking and institutional broking, including private placement of securities.
The Company is proposing to enter into Merchant Banking activities and has already obtained provisional SEBI approval to act as Category-I Merchant Banker.
CREDIT APPRAISALS & MONITORING
The Company's credit policy comprises on the one hand, stringent criteria in appraising credit risk and on the other hand, conservative norms for the Company's credit exposure as follows
1. Overall and individual exposures to each industry, activity and client.
2. Security of the transaction.
3. Balancing between risk and return.
The credit norms are distinct for each of the activities
1. Bill discounting.
2. Loans and Inter Corporate Deposits. The norm differ according to value nature, period and security offerred for transaction.
The credit procedure begins with the marketing department doing the appraisal for each proposal obtaining approval the requisite sanctioning authority flinging from department head to credit committee of senior executive depending on the value of the period and nature of the
-Relic Technologies Board approves Diversification into Pharmaceutical Activities
-Appointment of Shri M.M Raval as Chairman of the Company.
-Delisting of its equity shares from the Ahmedabad Stock Exchange (ASE).