SWARNA SECURITIES Share price

The Company was incorporated on 19.02.90 as a Public Ltdcompany under the Companies Act 1956 under the name andstyle of Swarna Leasing Ltd. It obtained the Certificate ofCommencement of Business on 28.02.90 with a view to carryon the business of Hire Purchase and Leasing of all typesof Motor Vehicles Consumer Durables and Equipment. By aspecial resolution passed at the Extraordinary GeneralMeeting held on 11.10.94 the name of the Company waschanged to Swarna Securities Ltd. for which ROC approvalhas been obtained vide their letter no: RAP/TA.I/SEC21/11031/94 dt. 07.12.94.The Company initially had its registered office atHyderabad which was later changed to Vijayewade videSpecial Resolution dt. 16.08.91 passed at the AnnualGeneral Meeting of the Company of even date.Presently the Corporate office of the Company is located at2E Subhodaya Apartments Boggulkunta Hyderabad - 001.The Main Objects of the Company were changed at theExtraordinary General meeting held on 05.02.94 by aspecial resolution and the same has been ratified by theCompany Law Board vide its order dt. 09.09.94. The objectswere changed to include carrying on the business of anIssue House and to act as Managers to issues of shares andother securities.The Company has gained considerable prominence in thefields of hire purchase and lease financing. The Company ispromoted by Mr. Muthavarapu Venkateswara Rao Mr.Muthavarapu Murali Krishna and their Associates. They havetogether promoted the well-known Swarna Group ofCompanies Vijayawada which are engaged in the fields ofhire purchase and lease financing hotels theatresgranite mining construction and other allied activities.Presently the Company is engaged in the fields of hirepurchase leasing loans trading in shares etc. SSL is thefirst Vijayawada based Non-Banking Finance Company to getthe money changers licence from RBI vide its letterno.HY.EC.IMP.MCL/95/94-95 dt. 12.09.94. It is also thefirst Vijayawada based Non-Banking Finance Company toobtain the permission from RBI vide its letterno:HY.EC.REM/SNR(M)/2368/94-95 dt.04.10.94 to acceptdeposits from NRIs on repatriation basis. The Companyproposes to start Issue Management activities from the year1996-97.MAIN OBJECTS OF THE COMPANYThe main objects of the company as set out in itsMemorandum of Association are as follows :-1. To carry and undertake the business of buying and leaseand setting on lease of all kinds of movable and immovableproperty lands buildings plant and machinery equipmentsof any kind including office equipments furniturefixtures motor vehicles air crafts containers warehouseand the like or any other equipment and assets of everykind and description that the Company may think fit.2. To provide leasing advisory/counselling to otherentities and or form the leasing are of other entities.3. To carry on the business of an Issue house and to act asManagers to issues of shares debentures bonds ofconvertible or non-convertible nature or any othersecurities of Companies bodies corporate institutions orgovernment and to underwrite new issues of sharesdebentures of any sort of any company or corporate body andto act as transfer agents to shares debentures fixeddeposits and other securities and to subscribe forabsolutely or conditionally purchase or otherwise acquireand to hold dispose off and trade in shares stocks andsecurities of any other company whether Indian or Foreignand to act as trustees and manager of financial portfolios for individuals association of persons orbodies corporate trusts and do all necessary actsnecessary in carrying on such activity.SUBSIDIARIES OF THE COMPANYSwarna Securities Limited does not have any subsidiarycompany.