Finance

The Company has incorporated with the Main Objects of doing the business of Securitization / Reconstruction of Assets and Finance and Investments. However, the Company never commenced or conducted the said business since its inception till date. The management of the Company is also having an insight to completely diversify its business line by bringing change in its main object. Therefore the Company never approached the RBI to obtain Certificate of Registration as per regulation 3 of The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002. However, the Company to make good of this default also diversified its business activity into Textile / Commodity Business and more than 50% of the revenue is being generated from the Business. The Company has been successful in establishing a new segment of the business of trading, manufacturing of Agricultural and Textile products and services. As per the Clause 13 and 21 of the Memorandum of Association the other objects of the Company inter-alia include trading, manufacturing of Agricultural and Textile products and services, and other allied activities, etc. The Commencement of new business requires approval of shareholders by passing the special resolution in the General Meeting. The members had accorded their consent at 30th Annual General Meeting held on 24th August, 2015. Presently company operates its business activities in to two segments i.e Finance and Trading in Commodity