INDO-CITY INFOTECH Share price

INDO - CITY TRADES & FINANCE LTD. was originallyincorporated under the Companies Act 1956 on 22ndSeptember 1992 as a Private Limited Company under the nameand style "JAIN AND SISODlYA TRADES & FINANCE PRIVATELIMITED" vide Certificate of Incorporation No.11 - 68670issued by the Registrar of Companies Maharashtra. Thename was subsequently changed to "INDO-CITY TRADES &FINANCE PRIVATE LIMITED" vide special resolution passed atthe Extra Ordinary General Meeting of the Company held on19th day of December 1995 and fresh certificate was issuedby Registrar of Companies Maharashtra on 22nd January1996. The Company was converted into a Public limitedCompany vide Special resolution passed at the ExtraOrdinary General Meeting held on 25th January 1996 withchange in name to "INDO - CITY TRADES & FINANCE LIMITED"and certificate to that effect was obtained from Registrarof Companies Maharashtra on 31st day of Jan. 1996.The Original promoter was Sri. P.C.JAIN . In December 1992the present promoter Smt. Shashi Jain took over theCompany. Sri. B D Jajodia joined in October 1995.The original promoter Shri. P C Jain was holding 100shares of Rs 100 each. In December 1992 Smt. Shashi Jainand B L Jain were appointed as Directors. M/s P C Jain andanother Director Shri. Mohanlal Sisodia simultaneouslyresigned from Directorship handing over management to thenew directors. Their shareholding in the Company were alsotransferred. At present the original promoters do not holdany stake in the Company.The Company started activities in 1992 by providing varioustype of financial services such as Inter CorporateDeposits Loans and Investments in Share marketConsultancy Services and syndication etc. The Company isplanning to expand and diversify into fund and non-fundbased activities like lease financing Bill discountingInvestment Banking in addition to its exiting activities.The existing setup of the Company consists of office spacein Bombay. Facilities available include computerstelephone fax etc. In terms of personnel the Company hasrecruited three Chartered Accountants.The Company has already built up a good client base. The past performance indicate that the Company hasincreased the level of business income and profitabilityover the years.