GOLECHHA GLOBAL FINANCE L Share price

The Company was incorporated on April 18 1991 as a PrivateLimited Company by name Golechha (Madras) Finance & LeasingPvt. Ltd. On August 13 1992 the Company converted itselfinto a Public Limited Company. To reflect its globaloutlook and world wide links on October 6 1992 the Companychanged its name to its present name GOLECHHA GLOBALFINANCE LTD.The Company belongs to the well known House of Golechha''swhich has businesses in India UK and other countries inthe world. Its London based Co. House of Golechha Ltd.deals in commodities and precious metals. Apart from thisIndian businesses include financing leasing constructingand exports. Another Company Golechha Overseas BusinessLtd. is building up business of exports from India. TheHouse of Golechha''s which is led by the London based NRIMr. Ummed Chand Golechha and Madras based Mr. Devendra Kr.Golechha. The Group has wide spread links with reputedBusinessmen and Industrialists both in India and abroad.The company is managed by its Board of Directors consistingof eminent persons. The Company is presently active in thefields of lease finance and investments. The demand forhire purchase finance of commercial vehicles and andLeasing of plant and machinery have been steadilyincreasing. In order to meet this increasing demand and atthe same time to increase the capital base the Board ofDirectors have decided to increase the share capital througha public issue.****************B. MAIN OBJECTS OF THE COMPANYThe main objects of the company as detailed in its Memorandum ofAssociation are as follows:-1. To finance hire purchase requirements of movable andimmovable properties of any kind including buses lorries lightcommercial vehicles ships aircrafts and consumer durables ofall kinds without conducting the business of banking as hirepurchase arrangements for the purpose of acquisition ofproperly or assets of any description.2. To provide long term finance build take on lease purchase oracquire in any manner whatsoever any apartments housesflats bungalows raw houses rooms and huts or otheraccommodation for residential use and to let or dispose of thesame on any system of installment payment basis rentpurchase basis rent purchase basis or by outright salewhether by private treaty or in any other mode of disposition allor any integral part thorough.3. To carry on the business of purchasing and letting on lease orhire in any part of India or abroad all kind of machinery plantstools jigs and fixtures agricultural machinery ships trawlersvessels barges automobiles and vehicles of every kind anddescription computers office equipments of every kindconstruction machinery of all types and equipment of all kindsand descriptions and to render leasing consultancy andadvisory services to clients in the fields of equipment leasing.4. To purchase sell develop take in exchange or on lease hireor other wise acquirewhether for investment or sale or workingthe same any real or personal estate including lands minesbusiness building factories mills houses cottages shopsdeposits warehouses machinery plant stock in trade mineralrights concessions privileges. licenses easement or interestin or with respect to any property whatsoever for the purposeof the company in consideration fora gr~ss sum or rent orpartlyin one way and partly in the other or for any other considerationany to carry on business as proprietors of flats and buildingsand to let on lease or otherwise apartments therein and toprovide forthe conveniences commonly provided in flats suitesand residential and business quarters.INCIDENTAL OR ANCILLARY OBJECTS OF THECOMPANY13. To lend out deposit invest and deal with the monies of thecompany not immediately required in such manner and uponsuch terms as may be from time to time be determined by theDirectors.30. To purchase or otherwise accquire shares of other companiesor debenture or debenture stock or other stocks of thecompanies carrying on similar business or business analogousto the objects of this company or any other company and toretain the same or dispose of or deal or sell the same or partthereof as may be advantageous to the business or interest ofthe company.************C. SUBSIDIARIES OF THE COMPANYAt present the Company does not have any subsidiary.