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History of LKP Finance Ltd.

LKP Merchant Financing Ltd

The Comp. was originally incorporated as Elkaypee Merchant Financing Pvt. limited on 5th May 1984 & the certificate of change of name to LKP Merchant Financing Ltd was obtained on 13th February 1986.

The Comp. is in the field of financial Services such as hire purchase & leasing of plant & capital equipment, machinery vehicles, etc; managing public & rights issues, underwriting of issues, discounting of bills of exchange, Loan Syndication, project appraisal, portfolio management money market operations, placement of securities & other financial consultancy & advisory services.

The Comp. was promoted by M/s L K Panday & Mr. Mahendra V Doshi.

The future prospects & profitability of Comp. in various fields is:

1s] Leasing & Hire Purchase: The Leasing & hire purchase business of Comp. has been consistently growing & it intends to tieup major Lease/Hire purchase business.

2s] Capital Markets: The Comp. has made an application to over the counter exchange of India [OTCEIs] for sponsorship which is still under consideration. The Comp. is also involved in Secondary capital markets by way of portfolio management.

3s] Trade Finance In view of Scarce bank finance there will be greater reliance on funding from non banking sector to meet the working capital & project finance requirement. Bills discounting will be increased by infusion of additional Rs. 4 cr.

4s] Full Fledged money changer [FFMCs] The Comp. has applied for licence for operating full fledged money changing centres. Due to changing economic environment will lead to an accelerated flow of tourists & increase in business for Company.

5s] Financial Advisory Services: The Comp. forsees scope in project counselling & advisory services in areas like acquisitions & mergers & introduction of new financial instruments.

6s] Portfolio management: The Comp. has recruited professionals as this activity is expected to increase.

The Comp. has seen steady growth on all fronts, including earnings, profitability & payout & is confident of maintaining this trend in future also.

2000 - LKP Forex, a division of Comp. has entered into a strategic tie-up with the Joint frequent flyer program of Air India & Indian Airlines.

2002-LKP Merchant Financing Board takes on record MOU & exclusivity agreement entered with Travelex plc.

-Kishore Baxi resigns as Comp. Secretary of Lkp Merchant Financing.

-LKP Merchant Financing Ltd has informed that Mr Girish Kumar B Innani is appointed as a Comp. Secretary of Comp. with effect from November 20, 2002.