FEDDERS HOLDING Share price

Incorporated on 22.10.91 under the name and style BRESCONCONSULTANCY SERVICES PRIVATE LIMITED. Its name was changedto BRESCON MEDIA AND FINANCE PRIVATE LIMITED on 21.01.92.The Company was converted into a Public Limited Companyvide special resolution passed on 23.01.92 and change ofname certificate issued by Registrar of CompaniesMaharashtra on 29.01.92. The Company''s name was againchanged to BRESCON FINANCIAL SERVICES LIMITED on 18.5.93.The company was incorporated with the main object ofcarrying on merchant banking and investment activities andproviding Project Advisory Services. The company hasobtained SEBI authorisation on Category III Merchant Bankeron 01/04/1993 and on Category I from 01/02/1994.MAIN/ANCILLARY OBJECTS OF THE COMPANYThe main objects of the Company as set out in itsMemorandum and Articles of Association inter alia are asfollows :Main Objects:1] To carry on the business or vocation of acting asadvisors and consultants in or outside India on all mattersand problems relating to the business and industry andcommerce and profession that is accountancy taxation lawsin India and abroad software hardware computersindustrial commercial social economic financialprojects feasibility studies maintaining of sick unitsshipping advertisement and publicity exports importsmedicine horticulture agriculture activities and producepersonnel management publication engineeringmanufacturing high technology collaborations planningbudgeting modelling promotion of education andinvestigations. The Company has passed a special resolution on 24th March94 complying the provisions of Section 149(2A) andcommenced the business of financial services as stated inthe other objects of the Memorandum of Association of theCompany bearing Nos. 82 83 and 84.a) To carry on the business of Merchant Banking in all itsaspects to act as Managers to the issues and offerswhether by way of public offer or otherwise of sharesdebentures bonds units participation certificatesdeposit certificates notices bills warrants or any otherinstruments whether or not transferable or negotiablecommercial or other paper or scripts (hereinaftercollectively referred to as the "securities") to act asagents of and/or dealers in the securities in the course ofMerchant Banking Business to act as discount house for anyof the securities to act as financial consultants jointmanagers lead managers co-managers advisors andcounsellors in or to provide standby or procurementarrangement to issue guarantee or to give any othercommitment for subscribing or agreeing to subscribe orprocure or agree to procure to provide financial andinvestment assistance for the purposes herein to act asissue house registrars to issue transfer agents for thesecurities to manage and administer computer syndicates orconsortia of managers agents and purchasers for or of anyof the securities to acquire and hold one or morememberships in stock/security exchanges tradeassociations commodity exchanges clearing houses orassociations or otherwise in India or any part of the worldto act as brokers dealers and agents in connection withthe securities bullions and precious matters or others tosyndicate any financial arrangements whether in domesticmarkets or in international market and whether by way ofloans or guarantees or export and yard credits and toacquire and hold membership in any association of bankersMerchant Bankers. Insurance Companies Brokers securitydealers or commodity dealers or any other associationsmembership of which will or is likely in any way tofacilitate the conduct of the companies business toundertake the work of factoring of bills and othercommercial papers and to arrange and/or co-ordinatedocumentation and negotiation in this regard.b) To carry on and undertake the business of equipmentleasing including import leasing and to give on lease oron leave and licence basis or in any other manner alltypes of equipments property and assets including allkinds of goods articles or things including vehiclesships Trawlers vessels aircrafts aeroplane flyingmachines office equipments computers satellites and anyother capital equipment whether moveable or immoveable.c) To carry on the business of the purchase and to provideon hire purchase basis all types of industrial and officesplant equipments machinery vehicles buildings and realestate required for manufacturing processingtransportation and trading business and other commercialand service businesses.PRESENT BUSINESS OF THE COMPANYThe company is a Non-banking financial company and isgoverned by a Non-banking Financial Companies (ReserveBank) Directives 1977 issued by RBI. The genesis of thecompany emanates from being Practising CharteredAccountants since last one and a half decade and venturinginto Project Counselling Tax Planning/Advisory ServicesCapital Market Operations/Advices and Loan Syndication andrecently into Merchant Banking Services. Now the Companyprovides all these integrated financial services includinglease finance under one roof.The company is authorised by SEBI to act as Category-IMerchant Banker (earlier was functioning in the capacityof Cat.III Merchant Bankers since 1st April 1993). Thecompany presently functions through its two majordivisions: PROJECT ADVISORY SERVICESThe Scope of Project Advisory Services include :preparation of DPR (Detailed Project Report) covering theTechno-Economic-Financial (Viability) Study of the Projectand also tying up of Term/Working Capital Finance. LoanSyndication has in fact been the company''s major thrustarea of operations since company''s inception.MERCHANT BANKING SERVICESThe Scope of Merchant Banking Division include CapitalStructuring Issue management Preparation ofProspectus/Profile Placement/Marketing the issue toFIIs/NRIs/MFs/IFIs/general public and other issueformalities. Company also provides Underwriting support topublic/rights issue. Arranging Bridge Finance againstPublic Issue/State Govt. Subsidy/other securities is alsoone of the functions that are handled under this division.