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Can Fin Homes
BSE: 511196|NSE: CANFINHOME|ISIN: INE477A01012|SECTOR: Finance - Housing
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Oct 20, 15:19
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Company History - Can Fin Homes
YEAR                       EVENTS
 1987 - The Company was incorporated on 29th October.  The company
 has
        been promoted by Canara Bank, one of the Nationalised Banks
 in
        India, jointly with Canbank Financial Services Ltd., UTI,
 HDFC,
        and ICICI.  The Company was incorporated in Bangalore with
 the
        primary object to provide housing finance.
 
      - The Company provides long-term housing loans to individuals
 or
        corporate bodies for construction or acquiring houses/flats.
 
      - 34,50,070 No. of equity shares allotted for cash at par to
        promoters.
 
 1988 - The Company had 14 branches with 7 branches in Karnataka, 3
 in
        Tamil Nadu, 2 in Andhra Pradesh and 1 each in Delhi and
        Pondicherry.
 
 1989 - 64,49,930 No. of equity shares then issued at par of which
 the
        following shares were reserved and allotted on a firm basis:
 
      - (i) 14,99,970 shares to Canara Bank;
 
      - (ii) 1,99,990 shares to Canbank Financial Services Ltd.,
 
      - (iii) 6,24,980 shares to HDFC and
 
      - (iv) 6,24,990 shares to UTI.  Of the remaining 36,00,000
        shares, the following shares were reserved for allotment on
        preferential basis:
 
      - (i) 5,00,000 shares to employees/workers of the Company and
        promoter companies (only 4,41,500 shares taken up) and
 
      - (ii) 10,00,000 shares to Asian Development Bank, Manila,
        Philipines (ADB) (all were taken up).  The balance 21,00,000
        shares along with 58,500 shares not taken up by employees
 were
        offered for public subscription during Febraury 1989 (all
 were
        taken up).
 
 1990 - The National housing Bank (NHB) extended its Home Loan
 Account
        Scheme (HLAS) to the customers of the Company.  Under the
 scheme,
        a depositor is entitled for a loan from the Company after the
        minimum period of deposit of 3/5 years.
 
      - The Company had 23 branches spread over in 8 States and 2
 Union
        Territories.
 
 1992 - During the year CFHL has issued 10,50,000 15% Secured
 Redeemable
        Partly Convertible Debentures (I Series) of Rs.250 each
        aggregating Rs.26.25 crores.
 
      - Of the aforesaid debentures 10,00,000 Debentures were offered
 to
        the shareholders of the Company on Right Basis in the ratio
 of
        one Debenture for every 10 equity shares held and the balance
        50,000 Debentures were offered to the employees of the
 Company. 
 
      - The Rights offer was well received and was more than fully
        subscribed.  The Debentures comprise of Convertible Part A of
        Rs.150 and Non-Convertible Part B of Rs.100.
 
      - The Part A shall be converted to 10 fully paid equity shares
 of
        Rs.10 each at a premium of Rs.5 per share on September 30,
 1992. 
        On conversion equity capital of the Company would be more
 than
        doubled to Rs.20.5 crores.
 
      - During the year CFHL has opened a branch at Bhubaneshwar in
 the
        state of Orissa, raising the network of branches to 24.
 
      - During the year computers have been installed at almost all
        branches of the Company.  Proper computerisation has ensured
        upto-date information, speed in data retrieval and enhanced
        customer service.
 
 1993 - During the year CFHL has opened a branch at Lucknow in the
 state 
        of Uttar Pradesh raising the net work of branches to 25.  To
 date 
        CFHL has branches in 10 States and 2 Union Territories.
 
 
      - During the year CFHL has introduced scheme called In-Principle
 
        Sanction.
 
 1996 - The Company proposed to undertake leasing and hire purchase
 of
        all types of industrial and other plants, construction
 equipments
        and machinery, computers, electrical data processors etc.
 
      - The Company intends to undertake the new branch of Activity
 in
        due course of time.
 
 1997 - During Feb./March, the Company issued 10,50,000-15% secured
        redeemable partly convertible debentures of Rs 250 each on
 Rights
        basis in proportion 1 deb: 10 equity shares held (all were
 taken
        up).
 
      - Part A of Rs 150 would be converted into 10 Equity shares of
 Rs
        10 each for cash at a premium of Rs 5 per share.  Part B of
 Rs
        100 would redeemed at the end of 7th year from date of
 allotment
        i.e. 31.3.1992.
 
      - During the year the company had to effect changes in the
 interest
        rates offered on its deposit schemes from time to time and
 had
        continued to accept deposits at a maximum interest of 15% per
        annum.
 
      - During the year the Company opened new branches at Ahmedabad,
        Chandigarh, Cochin and Patna and has planned to open a branch
 at
        Baroda.
 
 1998 - The Recurring Deposit Scheme was introduced during the
 period.
 
      - The deposits schemes of the company has the reaffirmed rating
 of
        MAA by M/s. ICRA Ltd., for 1997-98, indicating High Safety
 with
        regard to timely servicing of principal and interest.
 
 1999 - During the year, a new deposit scheme called Abhivridhi
 Deposit
        scheme was introduced wherein the deposit amount gets doubled
 in
        65 months.
 
      - The Company has been selected by National Housing Bank as one
 of
        the participants in the pilot issue of mobilisation of
 resources
        through Mortgage Backed Securities (MBS).
 
      - During the year the Company launched an Interactive Website,
        www.canfinhomes.com providing relevant information to the
        aspirants to own a Home, apart from details of deposit schemes
 of
        the Company etc.
 
 2000 - Canfin Homes, a unit of Canara Bank, proposed to disburse Rs
 360
              crore as housing loans throughout the country.
 
            - Mr. R.J. Kamath, Chairman & Managing Director and Mr. N.
 Venugopala
               Reddy were appointed as Directors.  Mr. R.V.S. Rao was
 reappointed as
               Director on the board.
 
 
 2001-The National Housing Bank (NHB) has signed a pact with Canfin
 Homes Ltd and LIC Housing Finance Ltd (LICHFL) for its second round
 of securitisation for housing loans worth Rs 137.63 crore
 
 --Canfin Homes Ltd has reduced its interest rates on housing loans to
 13.25 per cent. 
 
 
 
 2002-Can Fin Homes Ltd has informed the Exchange that Mr. G Umesh
 Shenoy, Managing Director of the company has tendered resignation and
 the same was accepted by Board. Mr. Peter D F Cardozo has been
 inducted as an Additional Director and also appointed as the Managing
 Director of the company w.e.f. September 18, 2002. Further, Mr. K V
 Hegde has been appointed as an Additional Director u/s 260 of the
 companies act, 1956.
 
 
 
 2003
 
 
 -Can Fin Homes unveils Can Fin Home Loan Fair in Kerala
 
 -Can Fin Homes has unveils all-India campaign from November 14 to
 December 31 
 
 -Mr. S Doreswamy has been appointed as an Additional Director of the
 Company ,
 Mr. V K Badami, Deputy General Manager, National Housing Bank has
 been nominated as a Director of the Company in place of Mr. R V
 Verma, Executive Director by the National Housing Bank from September
 16, 2003. Further, Mr. N Venugopala Reddy, Director has resignede
 
 - 1) Mr. S Doreswamy has been elected as Chairman of the Company.
 - 2) Mr. K V Hegde, Chairman & Director of the Company had tendered
 resignation. 
 - 3) Mr. K Annappayya has been appointed as an Additional Director. 
 
 
 2004
 
 -Can Fin Homes has launched a new product, Personal Loan Scheme, for
 existing borrowers.
 
 2005
 
 -CanFin sets up new branch office in Hyd
 
 2007
 
 -Can Fin Homes Ltd has informed that Dr. Ashok K Mittal,
 Educationist, New Delhi has been inducted to the Board as an
 Additional Director of the Company pursuant to Section 260 and all
 the applicable provisions of the Act, if any, of the Companies Act,
 1956 (the Act) on September 03, 2007.
 
 2008
 
 -Can Fin Homes Ltd has appointed Mr. Ashok K Mittil as Director
 liable to retire by rotation and Mr. S Doreswamy was re-appointed as
 Director at the 2lst Annual General Meeting of the Company held on
 September 24, 2008.
 
 2009
 
 -Can Fin Homes reduces interest rates.
 
 - Can Fin Homes Ltd - Acquisition of Shares.
 
 2010
 
 -Dr. K.K. Deb was appointed as a Director and the Managing Director
 of the Company.
 
 
 2011
 
 -Inter alia, dividend at Rs. 2.50 per share on equity shares of Rs.
 10/- each of the Company, was declared.
 
 2012
 
 -Mr. P. B. Santhanakrishnan Was appointed , FCA, as an additional
 director.
Source : Dion Global Solutions Limited
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