YEAR                       EVENTS
 1983 - The Company was incorporated on 29th November, and the
        Certificate of Commencement of Business was obtained on 16th
        December.  It was promoted by Kashmir Vanaspati Pvt. Ltd. and
        Grover Tankers Pvt. Ltd.  The Company carry on the business
 of
        leasing and hire purchase.
 
      - Rashi Leasing Ltd. is a subsidiary of the company.
 
 1984 - 70 shares subscribed for by the signatories to the Memorandum
 of
        Association.  7,99,930 shares taken up by promoters,
 directors,
        etc.
 
 1985 - 12,00,000 shares issued at par out of which 60,000 shares to
        employees (including working directors) and 25,000 shares to
        business associates of the Company were reserved for
 preferential
        allotment.
 
      - The balance 11,16,000 shares offered for public subscription
        during July-August.  3,00,000 additional shares allotted to
        retain over-subscription (2,85,450 shares to the public and
        14,500 shares to employees, working directors and business
        associates).  Further 2,00,000 shares allotted to promoters,
        etc. to maintain the ratio of 40:60 between promoters and the
        public.