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History of Okara Leasing and Investment Ltd.

Okara Leasing & Investment Limited, an existing profit making Comp. was promoted in April 1986 to carry on the business of leasing, finance & investments. Although the Comp. was incorporated on 23rd April, 1986 & obtained certificate of commencement of buisness on 13th May, 1986 but actual operations started only in December 1990. The main activities of Comp. are:-

Okara Leasing & Investment Limited is an existing non-banking finance Comp. promoted by Mr.Inderjit Singh Sahni & Mr.Inderjit Singh Arora.

Leasing has been the primary business of OLI & there has been a healthy growth in the aggregate value of assets leased out & the income from leasing. The total value of leased out assets & the income from leasing as on 31.3.93 was Rs.168.76 lakhs & Rs.84.16 lakhs respectively. OLI lease portfolio consists mainly of general machinery & vehicles.

The companies specialisation is in the leasing of machinery as well as Maruti cars. In both the areas it has corporate as well as non-corporate clients. Its corporate clients include the companies like Ramson Hydraulic Private Limited, Triple Locks Private Limited, Paam Pharmaceuticals [Delhis] Limited, etc., while non-corporate clients are numbering approximately 125.

OLI has also been engaged in providing short term finance to individuals, partnership firms & corporate bodies based on the surplus availability of funds. These loans & advances are generally extended for a period varying between 6-24 months with the rate of interest ranging from 2-3% per month depending on the period of loan. The interest income from loans & advances Rs.11.47 lakhs during 1992-93.

The share division of Company, Okara Share Shoppe, which commenced operations in May 1993 has received an overwhelming response & the Comp. expects substantial profit from this division in 1993-94.

The plantation division of Comp. namely Okara plantation launched a teak tree plantation scheme in August 1992. The Comp. has acquired 70 acres of land for this purpose in the Chanderpur district in Maharashtra.

The Comp. doesn't have any subsidiary.