Company History - ISF
1988 - The Company was Incorporated with Registrar of Companies,
Calcutta as a Private
Limited Company on August 10th, in the name of Inter
State Finance and Leasing
Company Private Limited.
- Inter State Finance Private limited (ISFL) was promoted
by Sh. Amarjit Singh,
Sh. R.N.Grover, Sh. B.K.Moorthy and Sh.Anil Madhok,
jointly with the object of
carrying on the business of financiers, hire purchase
and leasing etc.
- The company is engaged in the business of hire purchase
and leasing business
and LCVs (light commercial vehicles). It has also
financed plant and machinery to
a limited extent.
1992 - The name was changed to Inter State Finance Private Limited on
July 27, subsequently
it was converted into Public Limited company on 3rd
1996 - Mr. K Sankaran Nair is a very senior, was awarded PADMA
BHUSHAN, for his
outstanding Services to the Nation as Deputy Chairman
and Secretary General of ASIAD'82,
- The Board appointed Mr. Amarjit Singh, as Managing
Director of the company at a
specific remuneration for a period of five years.
- Mr. Anil Madhok, Mrs. Simbal Singh and Mr. B.K Moorthy,
retire by rotation at the ensuing
Annual General Meeting and being eligible offer
themselves for reappointment.
- The rating agency has assigned A+ to the Rs.40 crore NCD
issue of JK Industries Ltd.
- The outstanding rate of Interstate Finance Ltd (ISFL)
fixed deposit programme has been
downgraded from FA+ to FA by Crisil, the leading credit
1999 - The Company has been able to enter into an arrangement with a
major Foreign Bank
for financing of commercial vehicles.
- CARE granted the Company an Investment Grade Rating of
CARE BBB (FD)'
[Triple B], which indicates sufficient safety for
payment of interest and principal.
- Mr. B. K. Moorthy, Mr. K. S. Sankaran Nair & Mr. Harish
Gandhi, Directors of the
company, retire by rotation at the ensuing Annual
General Meeting and being eligible
offer themselves for reappointment.
2000 - Crisil has suspended its FB rating, indicating inadequate
safety assigned to the
fixed deposit programmes of Inter State Finance Ltd, Key
Corp. Ltd. and Mangalam
High Seas Ltd. for lack of co-operation from them in
carrying out a rating review.
-Company has splits its Face value of Shares from Rs 10 to Re 1
-Company has changed its name from Inter State Finance Ltd. to ISF