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History of Apple Finance Ltd.

The Comp. was incorporated as a Public Limited Comp. under the name Apple Leasing and Computers limited on 15th October, 1985. The name of Comp. was changed to Apple Leasing and Industries limited with effect from 1st September 1986. The name of Comp. was again changed to Apple Industries limited with effect from 30th August,1989.

The Comp. was promoted by Mr. Atul K Nishar, Nishar family & AKN Leasing Private Limited.

The Comp. is presently engaged in diversified business activities such as computer education, software development, consultancy, leasing, hire purchase, financial services & merchant banking.

The Comp. plans to set up more centres to further spread the geographical coverages of its information technology activities. The Comp. plans to expand the current operational areas in information technology.

The Comp. has decided to diversify its operations by setting up a 100% Export Oriented Unit for quarrying & processing of granite blocks.

2000 - ICRA has downgraded the medium-term debt as well as the fixed deposits and non-convertible debenture programmes of both Apple Finance limited & Apple Credit Corporation from MA- to MD.

2007

-Apple Finance Ltd has informed that on June 29, 2007 Mr. Mahendra Shantilal Shah has been inducted into the Board of Comp. as an Additional Director.