Focus Business Solution Share price

The Company was originally incorporated as “Focus Business Solution Private Limited” under Companies Act 1956 vide Certificate of Incorporation dated November 10 2006 issued by Registrar of Companies Gujarat Dadra and Nagar Haveli. The name of the Company changed from “Focus Business Solution Private Limited” to “Focus Business Solution Limited” pursuant to special resolution passed by the Shareholders at its Extra Ordinary General Meeting held on March 03 2020 and a fresh certificate of incorporation consequent upon conversion from Private Company to Public Company was issued by the Registrar of Companies Ahmedabad dated March 24 2020.Mr. Mohamedyaseen Muhammadbhai Nathani and Mr. Mohamedamin Mohammad Nathani along with their relatives laid the foundation of the Company in the name of M/s Focus Business Solution Private Limited in the year 2006 and since incorporation the Present Promoter i.e. Mr. Mohamedyaseen Muhammadbhai Nathani and Mr. Mohamedamin Mohammad Nathani are heading the Company.The Company was originally incorporated at Gujarat as “Focus Business Solution Private Limited” on 10th November 2006 under the provisions of the Companies Act 1956 vide Certificate of Incorporation issued by the Registrar of Companies Gujarat Dadra and Nagar Haveli. Consequent upon the conversion of our Company into public limited Company the name of the Company was changed to “Focus Business Solution Limited” vide fresh Certificate of Incorporation dated 24th March 2020 issued by the Registrar of Companies Ahmedabad Gujarat.Mr. Mohamedamin Mohammad Nathani and Mr. Mohamedyaseen Muhammadbhai Nathani have laid the foundation of the Company and since then heading the Company. We have been evolved as a financial services company and are engaged in the business of debt collection services for Banks NBFC and financial institutions. We enter the agreement with India’s leading banks financial institutions and non-banking financial companies to act as authorised recovery/collection agentson behalf of them.We focus strategically timed action based on aging of delinquent account with emphasis of traditional methods such as tele-calling and field visits. We deploy the manpower to visit and collect overdue payments of loans / credit cards / credit facilities advanced to borrowers by the clients who engage with us in service agreements. In occasional cases weneed to trace the new address and contact details of borrowers as delinquent borrowers may relocate their address.We through the call centre also do follow up over tele-calls to the defaulters for overdue payments. We have fully equipped call centre with 64 (sixty four) work station along with call recording dialler and CRM facility. We also do repossessions of vehicles or other hypothecated assets on the request of the clients in case defaulting borrowers unable to repay of its loan overdues. We have worked on over two lacs customer’s data base from pickup to recovery category of all kind of products such as Personal Loan Business Loan Vehicle Loan Loan against properties two wheeler loanequipment loan SME loans Gold loan with different banks and NBFCs with pool size of more than Rs. 200 Crores. We are working from the head office based at Surat and branches at Baroda Bharuch Vapi Anand Ahmedabad Rajkot Palanpur and call centre from another branch at Surat. We have staff strength of around 551 which included 58 staff on the payroll and 493 staff hired on contractual basis and each of the staff is fully trained and all types of assignment like recovery collection field investigation and other allied services.We are strictly bound by code of conduct issued by banks and financial institutions in accordance with RBI guidelines of Fair Practices code. Such code of conduct is strictly followed during visit to borrowers as well as during follow up calls. Internal records are maintained to monitor the performance of each field executive and back-office staff. Daily checking of receipt books to avoid any discrepancies. Prompt feedback and daily reporting to Collection Manager regarding collection and repossessions are part of our business process.We have robust electronic retail collection administrative programme (RCAP) i.e. myrcap.in which is an intelligent debt recovery solution and can deliver high Promise-to-Pay (PTP) rates effectively. Automating daily operational task of collection agents minimizes the time spent on unproductive task so that they can dedicate working time to critical issues.We believe that we have a scalable modern and sophisticated technology infrastructure capable of servicing the clients from pickup to recovery and every offices are well equipped with modern amenities and facilities like computer fax IP Cameras internet dialler smart CRM and mobile application.We are using digital ways to strengthen the services like Mobile Application i.e. "fTouch" to track the manpower allotment of task punching defaulters’ response commitments and queries using dialler for tele-calling to payment reminders to defaulters of the clients. We are availing all these digital services from the vendor i.e. Nathani Software Pvt Ltd. RCAP (fTouch & RCAP is registered trademark of Nathani Software Pvt Ltd and we have entered in to an agreement dated 1st April 2019 with Nathani Software Pvt Ltd for availing the same.DETAILS OF MAJOR EVENTS AND MILESTONES:2006- Incorporation of the Company in the name and style of “Focus Business Solution Private Limited”.2017- Certificate of appreciation from Axis Bank for March 20172017- Certificate of appreciation from Capital First for July August September 20172018- Champion of the month from Capital First for February 20182019- Certificate of appreciation from Bajaj Finserv for Q1 FY-2018-19- Champion of the month from IDFC First Bank for September 20192020-Conversion of the Company into a public limited Company and consequently changes of Name of the Company from “Focus Business Solution Private Limited” to “Focus Business Solution Limited”.