History of Hinduja Ventures Ltd.
1985
- Mitesh Mercantile and Financing limited was Incorporated on 18th July and obtained the Certificate for incorporation of Business on 6th August. It was promoted by T.K. Mondal, A.K. Das, S. Pal and associates. The Company was formed to carry on the Business of financing by way of loans & advances & as merchants, traders agents, brokers etc.
- The Comp. is involved in the business of investment banking, merchant & banking & real estate activities.
1994
- During November-December, A.K. Das & associate Comp. offered for sale 69,000 No. of equity shares at a price of Rs.10.
- 70 No. of equity shares fully paid up. 2,44,970 No. of equity shares were then issued at par in Jan. 1986 of which 94,930 shares reserved and allotted on a firm basis to promoters, directors etc. Balance 1,50,000 shares issued to the public. 122,28,572 No. of equity shares allotted on amalgamation.
1995
- Effective 9th February, Hinduja Finance limited was amalgamated with the Company. Subsequent to the amalgamation, the name of Mitesh Mercantile & Financing limited was changed to Hinduja Finance Corporation Ltd. effective 31st March.
- 10,50,000 - 9% cumulative convertible preference shares of Rs.100 each were issued pursuant to a scheme of amalgamation to the shareholders of erstwhile Hinduja Finance limited for consideration other than cash.
- Each share was divided into Part A of Rs.20, Part B of Rs.30, Part C of Rs.20 & Part D of Rs.30.
- Part A, B, C & D would be automatically converted into equity shares of Rs.10 each at par on 1.4.96, 97, 98 and 99.
- As per the scheme of amalgamation; 122,28,572 No. of equity shares of Rs.10 each were also issued to the erstwhile shareholders of Hinduja Finance Ltd. - 21,00,000 shares issued on conversion of preference shares.
1996
- 31,50,000 shares issued on conversion of preference shares.
1997
- Hinduja Finance Corporation [HFCs]s all set to pass a special resolution in its forthcoming annual general meeting on December 10 seeking approval of shareholders to buy back shares.
- Hinduja Finance Corporation Ltd, the finance outfit of Hinduja group, has disinfested its entire equity holding of over 5 per cent in Vashisti Detergents Ltd, a Hindustan Lever group company.
1998
- The Comp. has identified non fund-based activities as a thrust area and would be focusing on mergers & acquisitions, & advisory services in the banking & infrastructure sectors.
1999
- The Hindujas have lined up fresh investments worth Rs 900 crore in the telecom sector.
2000
- The board of Hinduja Finance Corporation limited [Hinduja Finances] has approved in principle to merge Ashok Leyland Information Technology Ltd [ALITs] with Hinduja Finance.
- The board of Hinduja Finance Corporation Ltd has approved the in-principle merger of Richman Investrade Private Ltd with itself, for acquiring a majority stake in group outfit IndusInd Media & Communications Ltd.
- It has now decided to merge its Cable Video India which owns the popular CVO Cable movie channels which has 104 national centres and plans to go on satellite with both music & movies.
- The Comp. has approved the swap ratio for proposed merger of Hinduja Telecom & Melody Trading Private Limited with the company.
- The Comp. has informed that, In2Cable.Com [Is] Pvt. limited a subsidiary of Comp. has discontinued to form a joint venture with Pacific Internet Ltd., Singapore to provide narrowband/broadband internet access services.
- The Comp. has signed a contract worth $ 100 million with a US based `Fortune 500' Comp. for providing software services to the latter.
- The Comp. has completed its arrangement with Intel Capital, whereby the latter acquires a stake of 3.3 per cent in IndusInd Media and Communications limited through acquisition of 49 per cent stake in Grant Investrade.
- The Comp. has set to acquire, in an all stock deal, a 70 per cent holding in forindia.com, a leading horizontal portal, to enhance its online presence.
- Hinduja TMT Ltd has announced on January 2, 2002 that Mr. R.Mohan has been appointed as President of its segment with effect from today at Bangalore. Mr. Ramesh C. Khanduri will continue to be the President of HTMT`s operations.
2002
-M S Varadan, has been promoted as executive director, Hinduja TMT, from his earlier post as chief financial officer, IMC.
-Srinivas Palakodetti, senior vice-president has been deputed to Hinduja TMT as chief financial officer & would take over responsibilities from MS Varadan.
-Hinduja TMT had closed down its equity trading division & also merged the special purpose vehicle Sarthak Mercantile with itself.
-The Comp. had also surrendered its non-banking finance Comp. license to the Reserve Bank of India as a step towards exiting from finance activities.
2003
-High court accepts for merger of Hinduja TMT Ltd with the Sarthak Mercantile.
-SEBI has debarred Hinduja promoted new company, Hinduja TMT from dealing in securities as an intermediary in any manner whatsoever for a period of two years.
-Hinduja TMT has got three outstanding contracts: Two contracts are for call centres, one from a UK telecom service provider & other from US based broadbrand & internet Comp. DSL.
-Hinduja TMT Ltd has informed that the Ministry of Communications & Information Technology Electronics Regional Test Laboratory has succesfully quality tested the Digital Set top box of Celetron.
-Hindua TMT has appointed Mr.Partha Sarkar as the new Chief Operating Officer for the company ITenabled services division.
-Hinduja TMT IT services segment has been assessed at SEI CMM level 4 by KPMG.
-HTMT has merged its content companies cable video Ltd & indusInd Entertainment Ltd with the InNetwork Entertainment.
-Hinduja TMT has been ranked 2nd after GE capital among the top 15 BPO companies as per the final rankings of DATAQUEST -IDC BPO employees satisfaction survey 2003.
-Ranked 2nd largest health care BPO Comp. in India by Business World Magazine
- Hinduja TMT [HTMTs] has merged its content companies Cable Video [Indias] Ltd & IndusInd Entertainment Ltd [IELs] with InNetwork Entertainment Ltd [INELs]. INEL will provide content to IndusInd Media and Communications, which is the cable distribution arm of HTMT. All new satellite TV channels will be provided through INEL. IndusInd Media and Communications [IMCs] will pay for new content to IENL
-The comapny is ranked 1st in the Most Preferred Employer Category in the first ever Employee Satisfaction Survey 2003.
2004
-Hinduja Tmt Ltd has informed that Mr. Pradeep Pasari has ceased to be the Comp. Secretary & the Compliance Officer of Comp. from the close of business hours of December 31, 2003 & Mr. Kairav Trivedi has been appointed as the Comp. Secretary & the Compliance Officer of Comp. with effect from January 1, 2004.
-Hinduja TMT Ltd [HTMTs] has announced on February 19, 2004 that it will resell Aspect contact center solutions in India with a focus on the southern region. Aspect Communications Corporation is a leading provider of enterprise customer contact solutions.
-Hinduja TMT has appointed K Thiagarajan, formerly director & head of strategy of Satyam Computer Services, as its chief operating officer
2005
-Hinduja TMT acquires Bangalore based outbound call centre
-HTMT launches BPO facility in Mauritius
-Hinduja TMT selected by Forbes Asia as one of 200 'Best Under a Billion' Comp. in Asia
2006
-Hinduja TMT has purchased a US-based BPO company, AFFINA, as part of its move to grow the BPO business & substantially expand the number of employees.
2007
-Hinduja Tmt Ltd has appointed Mr. Somnath Majumdar as the Comp. Secretary & Compliance Officer of HTMT Global Solutions Limited with effect from 13/3/2007.
-Hinduja TMT Ltd has appointed Mr. Prakash Shah as an Additional Director on the Board of Comp. with effect from June 11, 2007.
-Hinduja TMT Ltd has informed that the name of Comp. has changed from 'Hinduja TMT Ltd' to 'Hinduja Ventures Ltd'.
