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TCI Finance > Company History > Finance - Investments > Company History of TCI Finance - BSE: 501242, NSE: TCIFINANCE

TCI Finance

BSE: 501242|NSE: TCIFINANCE|ISIN: INE911B01018|SECTOR: Finance - Investments
Jan 17, 16:00
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Company History - TCI Finance
TCI Finance Limited was incorporated on 29th November,
 1973, as a Public Limited Company in the name and style of
 The name of the Company was changed to TCI FINANCE
 LIMITED with effect from 20th November 1992. The Registrar
 of Companies, Maharashtra, has issued a fresh certificate
 of incorporation consequent upon the change of name on 20th
 November, 1992.
 The Company is an existing profit making and dividend
 paying company belonging to TCI - Bhoruka group. The
 Company's turnover for the year ended 31st March, 94 was
 Rs.293.73 lacs. The Company is engaged in the business of
 Leasing, Hire Purchase, Corporate Finance, Bills
 Discounting, Merchant Banking, Investment Banking,
 Corporate Advisory Services.  The past performance of the
 Company for last 5 years is as under:
 The main objects of the Company as set out in the
 Memorandum and Articles of Association of the Company are
 as follows
 1.	To carry on the business of financing and hire purchase
 in all its branches and in any movable and immovable
 goods and property of any description and to carry on
 business as Mortgage Brokers, Financial Agent and to
 do all sorts of financing and guaranteeing business
 including hire purchase business.
 2.	To carry on the business of Capitalists, Financiers,
 Concessionaires for merchants, Importers and Exporters,
 commercial Traders, Commercial Agents and for purchasing
 selling business.
 3.	To carry on the business of Investment Company and
 invest and acquire, hold, sell and otherwise deal in shares,
 debenture stock, bonds, obligations and securities issued
 or guaranteed by any company or by any Government,
 State, public body or authority, whether in India or
 4.	To deal with and invest the moneys of the Company in
 such manner and upon such securities as shall, from time
 to time, be thought necessary or fit for the benefit of the
 Company, and to lend, advance or deposit money, securities
 and property, with or without charge, interest or security,
 to or with such persons or to receive and accept deposits,
 advances and loans on such terms and conditions as may
 be thought expedient and in that, the Company shall not
 carry on the business of banking as defined in Use Banking
 Companies Act, 1949.
 TCI Finance Limited is an integrated finance Company and
 the operations include :-
 1. Hire Purchase
 The Company provides finance under Hire Purchase Scheme to
 acquire Cars, Trucks, Light Commercial Vehicles, Plant and
 Machinery, Office equipment, Computers, etc. The Company
 has outstanding stock on hire to the extent of Rs.1,242.15
 lacs as at 31st January '95. The past performance of this
 division is as under :-
 		                                             (Rs. in Lacs)
 	                        31.01.95	1993-94   1992-93   1991-92
 	                     (10 months)
 Hire Purchase Income	    137.18	   50.50	      17.56	      9.07
 Total Stock on Hire	       1242.15	  455.38	     108.46	     80.58
 In view of the fact that the Company is going in for branch
 expansion in several towns where there is more potential
 for Hire Purchase of vehicles.
 2.	Leasing
 The Company provides Lease Financing covering Commercial
 Vehicles, Plant and Machinery, Computers etc. The Company
 has leased assets to the tune of Rs.907.93 lacs as on
 31.01.95.  The past performance of this division is as
                                                    (Rs. in lacs)
 	                   31.01.95	  1993-94    1992-93     1991-92
 	                 (10 months)
 Lease Income	       176.28	   65.48	   40.59	   14.34
 Total Leased Assets	   907.93	  417.03	  185.10	   59.36
 The Company proposes to increase its leasing business in
 order to achieve a higher level of operations and take
 advantage of the consequent tax benefits.
 3. Investments
 The Company has been investing funds in securities since
 its inception. The investment decisions are made by the
 Board of Directors. Investments have been divided among
 Government Securities, listed Companies and non-listed
 Companies to diversify the risks and assure a good return
 on investments.  As on 31.01.95, total investments of the
 Company stood at Rs.545 lacs (cost price) and its market
 value was Rs.597 lacs.
 The details as on 31/3/94 of the amount of investment made
 by the Company in the shares of the group companies are
 given below:
 Sr no.   Name of the Company            No. of shares     Face Value
 (shares quoted)
 1.	      ABC India Ltd	                        2,56,200	         10
 2.	      Bhoruka Financial Services Ltd	        19,350	         10
 3.	      Bhoruka Gases Limited	                 31,478	         10
 4.	      Bhoruka Steels Limited	                 49,360	         10
 5.	      Transport Corporation of India Ltd	   7,45,762	         10
 6.	      KIAT Mktg. Ltd	                          8,400	         10
 (shares	unquoted)
 7.	      Bhorucom Software (P) Ltd	                  1,000	       
 8.	      Bhoruka Goldhofer Trailers Ltd	            750	        100
 9.	      Bhoruka Investment Ltd	               2,25,000	         10
 4.	Corporate Finance and Bills Discounting
 The Company has been financing small, medium and large
 Companies by way of Inter Corporate Deposits and
 discounting of trade bills. The past performance in this
 Sector is as under:
 	                                                   (Rs in Lacs)
 	                               31.01.95      1993-94     1992-93
                                  (10 months)
 Income from Bill Discounting	    77.48	        8.58	    1.33
 Trade Bills Discounted	           182.85	      136.00	   12.00
 5. Merchant Banking
 The Company obtained registration as a Category-I Merchant
 Banker from the Securities and Exchange Board of India with
 effect from 16.06.94. Underwriting has been extended to
 about 100 issues and currently the Company is handling 15
 Public Issues as Lead Managers.
 None of the issues so far underwritten by the Company have
 6. Corporate Advisory Services
 The Company is engaged in advising corporates on project
 planning and appraisal, Capital structuring, Loan
 Syndication, and planning of Capital issues.
 -TCI Finance Ltd has created an e-mail ID of the grievance redressal
 division / compliance officer:
 -TCI Finance  appointed Ms.Vibha Shinde as the Company Secretary and
 Compliance Officer.
 -TCI Finance has inducted  Mr. J. P. Khemka  in to the Board and has
 been appointed as Executive Director of the Company.
 -TCI Finance appointed Ms. Radhika Somani as Company Secretary of the
 Company .
Source : Dion Global Solutions Limited
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