|Paro Leasing & Finance Limited (PLFL) was incorporated on 14th December, 1988 and obtained certificate of commencement of business on 11.1.1989.
The company is a Non-Banking Financial Company which started operations in 1989 with a recurring cum cumulative deposit scheme which evoked a good response from the public. The company now has a number of attractive deposit schemes, especially the monthly small saving schemes which gained in popularity over the years. The funds collected are deployed for selling under hire purchase system, letting on lease automobiles and other equipments, and to advance money to any person or
cooperative society at interest. The company has obtained classification under Non-Banking Financial Companies (Reserve Bank) Directions, 1977 from the Reserve Bank of India, Department of Financial Companies, Bangalore Vide their letter No.DFC (BG) No.8437/BG/TN/LC/P-99/89-90 dt.17.5.90.
The company is presently offering fund based financial services which include Hire purchase and leasing. The stock on hire as on 31.03.94 is Rs.72.81 lacs. The company started leasing activities only during 1993-94 and the net block of leased assets as on 31.3.94 was Rs.6.06 lacs.
Bhagwandas Metals Ltd, having its Registered Office at 61, Sembudoss Road, Manali. The company is engaged in the manufacture of CTD bard, rounds and trading in steel. The present promoters Sarvashri G.P. Agarwal & M.L. Sonthalia took over a sick unit in 1987, and shifted the factory to its present promoters the Unit has been making profits. The company is banking with Syndicate Bank, Madras Main Branch, Armenian
Street, Madras and has aggregate Fund based limits of Rs.125 Lakhs and Non-Fund based Limits of Rs.62.77 Lakhs. The present Directors of the company are
1. Shri G.P. Agarwal, Chairman
2. Shri M.L. Sonthalia, Managing Director
3. Shri S.C.M. Jamaldeen
4. Shri R.P.Rai
5. Shri C. Ramesan - Nominee Director of IRBI
The Key performance and financial indicators, as per the audited Balance Sheets, are as under :
Bhatera Steels (P) Ltd. (BSPL), having its Registered Office at 39, Venkata Maistry Street, Madras - 600 001 was incorporated as a Private Limited Company on 06.09.1985. The unit is banking with State Bank of Indore, Broadway Branch, Madras with aggregate fund based limits of Rs.20 lacs and non fund-based limits of Rs.10 lacs. The Directors of BSPL are Shri. Pratap Kumar Bhatera and his brothers.
i. Shri Gulab Chand Bhatera
ii. Shri Shantilal Bhatera
iii. Shri Vijay Singh Bhatera.
Bharat Trading Corporation (BTC), is a partnership firm established in 1974 with Sarvashri Balchand Bhatera and his son Pratap Kumar Bhatera as partners and is engaged in the trading and supply of Iron and Steel. The Unit is banking with State Bank of Indore, Broadway, Madras with aggregate fund based limits of Rs.20 lacs and non fund based limits of Rs.10 lacs.
-Company name has been changed from Paro Leasing & Finance Ltd to UV Boards Ltd.
-Mr. B. L. Bengani has been appointed as Additional Director of the company.
-Mrs. Priyank Bhangani has appointed as Company Secretary.
-Mr. Raghuram Nath has been appointed as an additional director of the Company.
-Company has recommended a dividend of Re. 0.30/- per equity share (i.e. 15%).
-UV Boards has recommended a dividend of Re. 0.30 (15%) per Equity Share of Rs. 2/- each.