Poonawalla Fincorp Ltd.

YEAR                                                                  
              EVENTS
 1978 - Magma Leasing Limited was incorporated on December 18, as ARM
 Group
              Enterprises Private Limited and was converted into a
 Public Limited Company with
              effect from October 30, 1980.
 
           - The Company has been carrying on various business
 activities in manufacturing,
              trading and financial services and has laid the
 foundation for emerging as a
              multi-divisional enterprise specialising in diverse
 lines of business such as Financial
              Services covering leasing, hire-purchase and bill
 discounting through a separate
              division as well as through an exclusive Financial
 Services Company called Magma
               Leasing Limited (erstwhile) which was separately
 incorporated for the purpose.
 
            - The name of the Company was also changed from ARM Group
 Enterprises Ltd. to
               Magma Leasing Limited, (August 24, 1993). The activity
 of manufacture and selling
               of Industrial Gases has been subsequently discontinued
 by the Company.
 
           - Another Company, Calcutta Credit Corporation Limited, was
 earlier merged with ARMGroup Enterprises Ltd. in 1987. Calcutta Credit
 Corporation Ltd. was one of the earliest
             hire-purchase companies in Eastern India having been
 incorporated in 1937.
 
 2000 - The Company has signed an agreement with CDSL & NSDL for
 dematerialisation.
 
 2003
 -Members approved delisting of its equity shares from Kolkata Stock
 Exchange.
 
 2004
 
 -Magma has entered into a tie-up with the National Insurance Company
 Ltd (NIC) for extending insurance cover to its customers
 
 -MLL launches 'Magma Carisma' car loan scheme
 
 2005
 
 -Magma ties up with National Insurance to unveil co-branded product
 
 2006
 -Magma Leasing Ltd has appointed Mr Narayan Seshadri as an Additional
 Director of the Company to hold office till the next Annual General
 Meeting of the Company.
 
 2007
 
 - Magma Shrachi Finance Ltd has informed that at the meeting of the
 Board of Directors of the Company held on October 29, 2007, Mr.
 Ashish Moti Chugani has been appointed as the Alternate Director to
 Mr. Neil Graeme Brown, Director of the Company w.e.f. October 29,
 2007.
 
 -Company name has been changed from Magma Leasing Ltd. to Magma
 Shrachi Finance Ltd.
 2008
 - Once again company name changed from Magma Shrachi Finance Ltd. to
 Magma Fincorp Ltd. 
 
 2010
 
 - Magma Fincorp Ltd has informed that Mr. V. Lakshmi Narasimhan has
 been appointed as Chief Financial Officer (CFO) of the organization
 with effect from April 01, 2010.
 
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
 
 2011
 
 -Magma Fincorp gets R1 approval from IRDA to launch general insurance
 business
 
 -Magma Fincorp Limited has entered into an Agreement with Social PR
 Outsourcing Private Limited 
 
 -Magma Fincorp Ltd has entered into an Agreement with HDI 
 
 2012
 
 -Magma Fincorp acquires GE Capital India's Housing Finance & Home
 Equity Loans Businesses
 
 --Magma Fincorp Ltd has passed an enabling resolution to enter into
 Gold Loan and Housing Finance Business
 
 2013
 -Magma Fincorp successfully completes the acquisition of 100% equity
 share capital of GE Money Housing Finance.
 -Magma Fincorp completes GE Money Housing Finance deal, also acquires
 Religares Auto Lease business.
 
 2014
 -Magma Fincorp has recommended dividend @ 40% i.e. Re. 0.80 per
 Equity Share of the face value of Rs. 2/- each.
 
 2015
 -Magma Fincorp Ltd. - Grant of Awards under Magma Restricted Stock
 Option Plan 2014 (MRSO Plan 2014)
 -Magma Fincorp board approves grant of Awards under MRSO Plan 2014
 
 2018
 
 -Magma Announces Names Of 100 Students For M-Scholarship.
 
 2019
 
 -Magma Wins ‘Best NBFC Of The Year’ At India Banking Summit & Awards
 2019.
 
 -Magma Launches M-Scholar 2019.
 
 2020
 
 -Magma Housing Finance Eyes 25 Pc Loan Growth In H2: Economic Times.
 
 -Magma Fincorp Honoured At ACEF Asian Leaders Awards For Its CSR
 Initiative M-SCHOLAR.
 
 -Magma Fincorp Partners With Wadhwani Foundation To Provide Business
 Consulting To SME Customers.
 
 -Magma Fincorp’s CSR Program Enters The Limca Book Of Records.
 
 2021
 
 -Poonawalla Fincorp and CARS24 announce strategic partnership for
 seamless consumer financing
 
 -Poonawalla Fincorp MoU with ICSI.
 
 -Poonawalla Fincorp strengthens its leadership team with new
 appointments.
 
 -Magma Fincorp Limited announces name change to Poonawalla Fincorp
 Limited.
 
 
 2022
 -Poonawalla Fincorp Ties up with All India Organization of Chemist &
 Druggist.
 -Poonawalla Ficorp Signs MOU with ICSI for Special term loans.