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History of Damania Capital Markets Ltd.

The company, Trisar Leasing & Housing Finance Limited, was incorporated as a Public limited Comp. on 04th November 1986 & it obtained certificate for commencement of business on 14th April 1987. The management of Comp. vested with the Damania Group in the year 1992. Subsequent to the takeover, the company name was changed to Damania Capital Markets updated with effect from 26th September 1994.

During the initial years the business turnover of Comp. was insignificant. In this year 1989-90 the gross income was Rs. 0.75 Lacs, in 1990-91 it was Rs. 0.66 Lacs, in 1991-92 is was Rs. 1.67 Lacs & in 1992-93 it was Rs. 1.76 lacs. Till this period the paid up capital was Rs. 7000/-.The present Management acquired shares through transfer/ allotment at nominal value in the subsequent period. Subsequent to the takeover, the Management infused Rs. 49.30 Lacs as Equity Capital. The present paid-up capital is now increased to Rs. 500 Lacs.

The Comp. has been accorded code no. 225 on fifing its annual returns as regard of Non-Banking Financial Companies [Reserve Bank Directionss], 1977.

FUTURE BUSINESS PLANS

[is] DCML, has now proposed to expand the scale of operations of its existing activities viz: lease and hire purchase, stock market operations, inter-corporate advances and non fund based activity of bills discounting.

[iis] DCML, has also proposed to promote a subsidiary Comp. for undertaking share broking activities.

1995-96: The company performance suffered a setback in the year, largely on Acc. of prolonged sluggishness in the Financial Services sector. The Stock, Money & Capital Markets continued to be extremely difficult with illiquidity & erosion in the investment values. The illiquidity in the markets resulted in gross delays in recovery of lease rentals from corporate lessees. This has led to higher provisioning on Acc. of Non-performing Assets as defined under the RBI guidelines. The Company efforts to make a mark in the Merchant Banking Sector met with limited success. Substantial erosion in the value of investments made by Comp. has also resulted in contributing negatively to the performance of Company. The Comp. has thus ended the year with a loss of Rs. 1625.52 lacs.