Company History - Can Fin Homes
1987 - The Company was incorporated on 29th October. The company
been promoted by Canara Bank, one of the Nationalised Banks
India, jointly with Canbank Financial Services Ltd., UTI,
and ICICI. The Company was incorporated in Bangalore with
primary object to provide housing finance.
- The Company provides long-term housing loans to individuals
corporate bodies for construction or acquiring houses/flats.
- 34,50,070 No. of equity shares allotted for cash at par to
1988 - The Company had 14 branches with 7 branches in Karnataka, 3
Tamil Nadu, 2 in Andhra Pradesh and 1 each in Delhi and
1989 - 64,49,930 No. of equity shares then issued at par of which
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
- (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
offered for public subscription during Febraury 1989 (all
1990 - The National housing Bank (NHB) extended its Home Loan
Scheme (HLAS) to the customers of the Company. Under the
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
1992 - During the year CFHL has issued 10,50,000 15% Secured
Partly Convertible Debentures (I Series) of Rs.250 each
aggregating Rs.26.25 crores.
- Of the aforesaid debentures 10,00,000 Debentures were offered
the shareholders of the Company on Right Basis in the ratio
one Debenture for every 10 equity shares held and the balance
50,000 Debentures were offered to the employees of the
- 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
Rs.10 each at a premium of Rs.5 per share on September 30,
On conversion equity capital of the Company would be more
doubled to Rs.20.5 crores.
- During the year CFHL has opened a branch at Bhubaneshwar in
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
1993 - During the year CFHL has opened a branch at Lucknow in the
of Uttar Pradesh raising the net work of branches to 25. To
CFHL has branches in 10 States and 2 Union Territories.
- During the year CFHL has introduced scheme called In-Principle
1996 - The Company proposed to undertake leasing and hire purchase
all types of industrial and other plants, construction
and machinery, computers, electrical data processors etc.
- The Company intends to undertake the new branch of Activity
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
basis in proportion 1 deb: 10 equity shares held (all were
- Part A of Rs 150 would be converted into 10 Equity shares of
10 each for cash at a premium of Rs 5 per share. Part B of
100 would redeemed at the end of 7th year from date of
- During the year the company had to effect changes in the
rates offered on its deposit schemes from time to time and
continued to accept deposits at a maximum interest of 15% per
- During the year the Company opened new branches at Ahmedabad,
Chandigarh, Cochin and Patna and has planned to open a branch
1998 - The Recurring Deposit Scheme was introduced during the
- The deposits schemes of the company has the reaffirmed rating
MAA by M/s. ICRA Ltd., for 1997-98, indicating High Safety
regard to timely servicing of principal and interest.
1999 - During the year, a new deposit scheme called Abhivridhi
scheme was introduced wherein the deposit amount gets doubled
- The Company has been selected by National Housing Bank as one
the participants in the pilot issue of mobilisation of
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
the Company etc.
2000 - Canfin Homes, a unit of Canara Bank, proposed to disburse Rs
crore as housing loans throughout the country.
- Mr. R.J. Kamath, Chairman & Managing Director and Mr. N.
Reddy were appointed as Directors. Mr. R.V.S. Rao was
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.
-Can Fin Homes unveils Can Fin Home Loan Fair in Kerala
-Can Fin Homes has unveils all-India campaign from November 14 to
-Mr. S Doreswamy has been appointed as an Additional Director of the
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
- 3) Mr. K Annappayya has been appointed as an Additional Director.
-Can Fin Homes has launched a new product, Personal Loan Scheme, for
-CanFin sets up new branch office in Hyd
-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.
-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.
-Can Fin Homes reduces interest rates.
- Can Fin Homes Ltd - Acquisition of Shares.
-Dr. K.K. Deb was appointed as a Director and the Managing Director
of the Company.
-Inter alia, dividend at Rs. 2.50 per share on equity shares of Rs.
10/- each of the Company, was declared.
-Mr. P. B. Santhanakrishnan Was appointed , FCA, as an additional
-Can Fin Homes have recommended a Dividend at Rs. 4/- per share (Face
value of Rs. 10/- per equity share).
-Can Fin Homes have recommended a dividend at Rs. 6.50/- per share
(face value Rs. 10/- per equity share).
-Can Fin Homes has issues rights to its existing shareholders in the
Ratio of 3:10
-Can Fin Homes inks MoU with CCSL for RTA services.