Aryaman Financial Services Limited was incorporated on 11th May, 1994 in the Registrar of Companies, National Capital Territory of Delhi & Haryana & obtained the Certificate for Commencement of Business on 16th June, 1994. The Comp. is classified as a Loan Comp. by RBI under the Non Banking Financial Companies [Reserve Bank of Indias] Directions, 1977.
BRIEF NOTE ON THE COMPANY'S PRESENT ACTIVITIES
The Comp. was incorporated on 11th May,. 1994 & received the certificate for commencement of business on 16th June, 1994. Its actual operations started on 25th July, 1994. In this short span the Comp. has carved niche areas for itself & is already known for its professionalised & fast services. The Company present activities are:
1. The Comp. is a One Stop Shop Comp. for Project related Services functioning on a Polyclinic concept. It has a team of qualified professionals with experience in Finance, Engineering, Banking etc. The Comp. provides services which include identification of projects based on financial health of each entrepreneur, preparing of project and market report, conducting viability studies & arranging for tie up of funds from All India level Financial Institutions & Banks. Besides, the Comp. will also assist in locating suitable manpower to handle the projects, project finance & fund management & finally helping in implementation of project. For this the Company, on a 'Polyclinic' concept, will keep panel of experts industry wise & call them & arrange expert guidance to the entrepreneur. However, the Comp. also has professionals with requisite experience in handling large projects on its rolls for co-ordination.
Since the Comp. commenced operations, it has undertaken the activities of preparation of brief project profiles for profitable businesses, preparation of detailed project & market reports, syndication of Project Finance.
An agreement, subject to Government approvals, if any, has been entered into with World Wide Business Connections, Inc., USA [WBCs] for sourcing entrepreneurs abroad by WBC for joint venture projects in India by Indian entrepreneurs to be identified by Aryaman Financial Services Ltd., with or without financial participation and/or technology transfer.
2. The Company thrust area is the hitherto unexplored activity of making sick units viable. The Comp. conducts viability studies of units which have gone sick for reasons of management and/or finances & can't be revived by existing promoter[ss] & prepares viability reports. It then scouts for financially sound Indian or Non Resident Indian entrepreneurs, established or budding, who have the capabilities to revive the unit for merger, acquisition & reorganisation of same. The Comp. plans to send a team of professionals to Gulf & other parts of world & sell these projects, as these are otherwise viable with good management & provision of working capital. This will give foreign entrepreneurs a ready made platform to start the unit without any gestation period.
The Comp. has already identified sick/loss making units in cement, spinning, weaving and textiles, engineering, solvent extraction, global unit, ball beading unit & leather & prepared viability reports for same in order to arrange for their rehabilitation through take over of such units by financially sound entrepreneurs:
Out of above, the Comp. has already assisted in the take over of one cement unit located in South India & one solvent extraction unit located in Madhya Pradesh. For others, negotiations are in advanced stages.
3. The Comp. has set up an Equity Research department which carries out research mainly in the core sectors & in the fields of Indian economy, Global economy, Industries, companies, various kinds of securities, the stock markets, fresh issues of capital, Governmental regulations etc. & publishes research papers on various aspects as above. This department works in close co-ordination with the Projects & Investment Banking departments. The Comp. has already acquired necessary software for this purpose besides subscriptions to a host of journals, magazines etc.
4. Software Development & Consultancy is another area where the Comp. is actively engaged in, with some well known corporate names as its clients. It has already developed software for three clients--one in the financial services, one in the banking sector & one in the cement industry.
5. The Comp. placed an inter corporate deposit of Rs. 20 lacs & also discounted a bill of Rs. 10.40 lacs during the period upto 30.9.94. These transactions generated interest income of Rs. 1.10 lacs.
6. During the period upto 30.9.94 the Comp. purchased shares of listed companies of Rs. 21.56 lacs & sold some of these shares for Rs. 4.70 lace giving a profit of Rs. 0.80 lacs.
The Comp. is presently operating from its Corporate Office at 401-A, Poonam Chambers, 'A' Wing, Shiv Sagar Estate, Worti, Bombay. The Comp. has already acquired office premises at Nariman Point [35, Atlanta Buildings], Bombay which is presently under furnishing. The Company has also taken premises on rental basis at vile Parle-East [3, Jerome villa, Makarand Ghanekar Margs], Bombay to carry out support services.
SUBSIDIARY OF THE COMPANY
The Comp. doesn't have any subsidiary.
2008
- Aryaman Financial Services Ltd has appointed Shri. Shripal S Shah, as an additional Director of Comp. to hold office upto the date of next Annual General Meeting.