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History of Apollo Finvest [Indias] Ltd.

The Comp. was originally incorporated on July 29, 1985 as a public limited Comp. under the name of Appollo Mercantiles Limited & received the Certificate for Commencement of Business on December 10, 1985.

The Comp. was originally engaged in Trading & Agency business in 'Telecom' & 'Telecom related Products'. The Comp. then diversified it business by entering in the Financial Services. Subsequently, the name of Comp. was changed to Apollo Finvest [Indias] Limited [AFILs] & a fresh Certificate of Incorporation dated May 12, 1992 was issued to this effect by Registrar of Companies, Maharashtra.

CHANGE IN REGISTERED OFFICE:

The Comp. has changed it Registered Office to its new premises at the following address:

3/3 A, Rahimloola House, 7, Homli Street, Fort, Bombay-400 001

The Comp. was initially engaged in the trading activity of telecom products & pipes. Subsequently, with the shifting of Registered Office at the new premises at Fort, Bombay, the Comp. started operations for retail & corporate lending, Merchant Banking & Money Market related activities. Meanwhile, the Comp. had also acquired the dealership of OTC Exchange of India [OTCEIs] wef December 18, 1991, & operations in this line started during the year 1992-93. Further, the Comp. also started investments & trading in shares in the secondary market in its own portfolio. The Comp. also got itself registered with SEBI as Category i Merchant Banker w e f December 16, 1993, & started underwriting of various Issues in the primary market.

The Comp. is an existing profit making & dividend paying company, & its shares are already listed at Bombay, Ahmedabad & Jaipur Stock Exchanges.

MAIN OBJECTS OF THE COMPANY

The main object of Comp. as specified in the Memorandum & Articles of Comp. are as follows Main Objects

1. 'To carry on the business of dealers, general order suppliers, contractors, importers, exporters, merchants, stockists, buyers, sellers, growers, agents, brokers, commission agents & dealers in cotton, jute, tea, coffee, rubber, oil, grains, pulses, seeds, vegetable products, cotton goods, jute goods, textiles, garments, yarn, synthetic goods, fibrous materials, mill stores, coal, chemicals, fertilizers, building materials, office appliances, domestic appliances furnitures, decorative items, gift items, steel utensils, plastic goods, rubber items, pulp, paper, engineering goods, electrical items, electronics items & cast iron items.'

1. A. To establish & carry on the business of merchant banking including Issue Management, Advisory Services & Portfolio Management Services & to promote, establish, finance or in any other manner, support or encourage establishment of industrial/ commercial enterprises or companies engaged in industrial, commercial & trading activities.

Note: Pursuant to a Special Resolution passed at the Annual General Meeting held on August 20, 1993 as per Section 17 of Companies act, 1956, the main object of Comp. was amended to commence business as mentioned in Object Clause 1 A.

INCIDENTAL AND OTHER OBJECTS

2. To advance, deposit or lend money & properties to or with any company, body corporate, firm, person or association on such terms as may seem expedient, to discount, buy, sell & deal in bills, notes, warrants, coupons, import entitlements & other negotiable or transferable. securities or documents, to guarantee or become liable for payment of money or for performance of obligations & generally to transact guarantees and/or Trust business. Provided the Comp. shall not carry on Banking business as defined by Banking Regulations Act, 1949 & subject to the provisions of Companies Act & directives of Reserve Bank of India.

To sell, exchange, mortgage, let on lease, royalty or distribute, grant licences, easements, options & other rights over & deal with or dispose of undertaking property, assets, rights & effects of Comp. or any part thereof for such consideration as may be though fit and in particular for stocks, shares whether fully or partly paid up or securities of any other Company. To carry on the business of managing other leasing Finance Companies and/or acting as leading/Finance advisers & consultants on all matters & problems relating to Financial services, administration, organisation, new ventures & expansion of existing concerns.

To lend money either with or without security & generally to such persons & upon such terms & conditions as the Comp. may think fit.

To subscribe for absolutely or conditionally, purchase or otherwise acquire & to hold, dispose of & deal in stocks & securities or obligations of any other Comp. whether Indian or foreign. Subject to the provisions of Act to invest moneys of Comp. not for time being required for any of purposes of Comp. in such investments [other than shares or stock of this companys] as may be thought proper & to hold, sell or otherwise deal with such investments.

To borrow or raise or secure payment of money or to receive money on deposit at interest for any of purposes of Comp. & at such time or times & in such manner as may be thought fit & in particular, by issue of debentures, or debenture-stocks perpetual or otherwise, including debentures or debenture stocks convertible into shares of this or any other Comp. or perpetual annuities & as security for any such money so borrowed, raised or received, or of any such debentures, or debenture-stock so issued to mortgage pledge or charge the whole or any part of property, assets, or revenue & profits of Comp. present or future including its uncalled capital by special assignment or otherwise or to transfer or convey the same absolutely or in trust & to give the lenders power of sale & other powers as may seem expedient & to purchase, redeem, or pay off any such securities, provided, the Comp. shall not carry on Banking business as defined by Banking Regulation Act, 1949 & subject to the provisions of Act & directives of Reserve Bank of India.

To carry on the business of speculation in shares, stocks, debentures, debenture stock, bonds, obligations & securities issued & commodities permitted by any law for time being in force in the country.

Note : Pursuant to Section 149 [2As] [is] of Act, a Special Resolution was passed at the Annual General Meeting of Comp. held on August 9, 1994 authorising the Comp. to carry on the above businesses.

PRESENT BUSINESS

The Comp. is presently engaged in the comprehensive range of activities which can be broadly classified into six major categories as under :

1. Marketing of Telecom Products & pipes 2. Leasing and Hire Purchase Finance 3. Merchant Banking 4. Bills Discounting and Money Market Operations 5. Investment and Portfolio Management 6. OTCEI Operations

1. Marketing of Telecom Products & Pipes:

Over the years, AFIL has developed a good marketing set-up for marketing telecom products. The Comp. is an authorised agent for various telecom products of companies like :

1. Birla 3M Ltd. 2. The Arvind Mills Ltd [Telecommunications Divisions] 3. Himachal Futuristic Communication Ltd-

AFIL is also an authorised agent for many G.I. Steel pipes manufacturers & HDPE pipe manufacturers like

1. Zenith Ltd. 2. Quality Steel Tubes Ltd. 3. Rajinder Steels Ltd. 4. Chemiplast Industries

The Comp. is expanding its marketing activities substantially & many more products of well known companies are likely to be added to the Company marketing list.

2. Leasing and Hire Purchase Finance:

AFIL offers Leasing assistance on flexible terms, bearing in mind the Lessee needs. Primarily it is engaged in the leasing of industrial equipments to corporate clients. The Comp. has started its Lease Financing operations in the financial year 1992-93 & within short period of two years, it has done leasing business of Rs.221 lacs till July 31, 1994. Further a sum of Rs. 500 lacs has been earmarked for purpose of creating leased assets during the current year.

3. Merchant Banking

AFIL is a CATEGORY-1 Merchant Banker duly registered with SEBI. With the help of experienced & professional management, it plans to create a niche for itself among the private sector merchant bankers. AFIL is presently concentrating mainly on the following activities:

1. Extending underwriting support 2. Capital structuring & other allied services. 3. Mobilisation of funds from the primary market.

The Comp. is active in extending underwriting support to various companies in their Public issues. Upto July 31, 1994, the Comp. has given underwriting commitments for 83 issues amounting to Rs. 925 lacs. The Comp. has not refused to honour any of its underwriting commitment till date.

4. Bills Discounting and Money Market Operations

AFIL has started these activities in the year 1992 & registered an income of Rs 47.27 lacs during the year 1993-94. This fund based activity covers discounting of trade bills, Inter-corporate Deposits, advance against shares & debentures etc. The Comp. also arranges ICDs for its corporate clients & thus has developed non-fund based activities. The Comp. has number of corporate clients who avail the services of Comp. on a regular basis.

5. Investment and Portfolio Management

AFIL is investing its funds in debt & equity instruments after detailed appraisal. It has also has its own Equity Research Department where Scrips are identified for long term & short term investments. All the investments are being scrutinised periodically for taking sell/buy/hold decision. At present the Comp. has total portfolio of Rs. 360.35 lacs at market value as on July 31, 1994.

6. OTCEI Operations

AFIL has been registered as a DEALER on the OTC Exchange of India wef December 18, 1991 & has since been an active player at the Exchange. The OTC Exchange of India has great potential to be a Prime centre for trading activities in shares & debentures. OTC has recently included 60 scrips which are actively traded on Bombay Stock Exchange as Permitted Securities to be traded on its counter, & in future, more scrips are likely to be added.

The Comp. has been acting as a voluntary market maker for various scrips & has also been involved in bought deals of OTC Issues.