Company History - VLS Finance
HISTORY, MAIN OBJECTS & PRESENT BUSINESS OF THE COMPANY
VLS FINANCE LTD was incorporated on 20th January, 1986 as a Public
Limited Company under the Companies Act, 1956, registered with the
Registrar of Companies, Delhi and Haryana, at New Delhi under the
name of VARDHMAN LEASING AND SERVICES LIMITED. The Company's name was
changed to VLS FINANCE LTD (VLS) pursuant to a Special Resolution
passed by the shareholders of the Company in its 8th Annual General
Meeting held on 2nd August, 1994 and fresh Certificate of
Incorporation issued by the
Registrar of Companies, Delhi and Haryana at New Delhi dated 8.9.94.
The Company became entitled to commence business on 4th August, 1987
pursuant to receipt of the Certificate for Commencement of Business
issued by the Registrar of Companies, Delhi and Haryana, at New Delhi
and commenced business in the year 1989.
The Company was originally incorporated by Mr.Rakesh Kumar Jain,
Mr.Rajiv Jain and Mr.Mahendra Kumar N. Shah. The controlling interest
in the Company, (which had a capital of only Rs.70/- at the time take
over) was subsequently acquired by the promoter Mr.M.P. Mehrotra in
The Company made a maiden public issue of its equity shares in the
month of February, 1993 and subsequently got its shares listed on
Stock Exchanges at Delhi, Bombay, Calcutta, Madras, UP at Kanpur and
Ahmedabad. As the number of shares offered to the public at that time
was less than the minimum requirement for public issue stipulated by
the Securities Contracts Regulation Act, 1956, the Company obtained
relaxation under Rule 19(2)(b) of the Securities Contracts Regulation
Rules for getting its shares listed. The Delhi Stock Exchange vide its
letter dated 27th November, 1992, had communicated to the Company the
approval of the Central Government for listing of the Company's
shares on the Stock Exchanges subject to the condition that the
Company shall make another offer within a period of three years from
the date of enlistment with the regional Stock Exchange in order to
raise the total public offer to 40% and the Company seeking necessary
approval regarding disclosure, investor protection etc. from SEBI. The
Company, through this issue, is also complying with this requirement.
VLS Finance Ltd has informed the Board of Directors has accepted the
resignation of Dr P D Ojha as the Non Executive Chairman and Director.
The Board has further elected Shri Surendra Singh, Director as the
Non-Executive Chairman of the Company.
Vls Finance Ltd. has informed the Exchange that Mr. Surendra Singh,
Director and Non-Executive Chairman of the company has resigned
w.e.f. May 28, 2003 and Mr. S K Agarwal has been appointed as
Addiltional Director w.e.f. May 28, 2003.
-Shri Ajit Kumar has been co-opted as Additional Director by the
-Equity shares of VLS Finance Ltd delisted from Delhi Stock Exchange
Ltd and Uttar Pradesh Stock Exchange Ltd w.e.f March 31, 2004
-Vls Finance Ltd. has informed that in the meeting of the BoD's of
the company held on May 26, 2004, Shri S K Agarwal, has been
unanimously appointed as the Managing Director of the Company
-E-mail ID for Investor Complaints : firstname.lastname@example.org
-Registered Office of the Company has been shifted From C-489,
Defence Colony, New Delhi- 110024 To 13, Raja Dheer Sen Marg, 2nd
Floor, Sant Nagar, New Delhi- 110065.
-VLS Finance Ltd Registrar and Transfer Agent (RTA) has changed to
M/s RCMC Share Registry Pvt. Ltd. First Floor, Okhla Industrial Area
Phase II, New Delhi- 110020.