Viji Finance Share price

PANJON FINANCE LIMITED was incorporated on October 12 1994 and received Certificate of Commencement of Business on November 9 1994. The Authorised Capital of the Company is Rs. 500 lacs. The Company is promoted by PANJON LIMITED which is an existing profit making and listed Company and its promoters. PANJON LIMITED has been allotted Equity Shares worth Rs. 10.01 lacs of the Company. The Company is managed by the Board of Directors of the Company headed by Shri Nagin Kothari who will be assisted by a team of qualified professionals.The Company is a new Company and hopes to grow its business in time to come though it will face competition from established and new companies in the field. The Company is not operating under any injunction or restraining order.The Company is planning to avail the services of SHRI L.K. BINANI who is qualified Chartered Accountant and Company Secretary having experience of more than 12 years in the areas of Corporate importance. Shri Binani has gained relevant experience from Hindustan Motors Limited and Panjon Limited and during his practice as Chartered Accountant.PRESENT BUSINESS AND FUTURE PLANS: The Company is presently engaged in the business activities of Loans Advances and Deposits and disbursed Rs. 21062328/-. The Company has earned the income of Rs. 1872354/- in the form of interest out of the present business activities as certified by the Auditors in their certificate dated 26.12.95. Also the recovery percentage is 100% and there is no bad debt.The Company do not require any authorisation for carrying out these business activities. However the Company has been classified as `LOAN COMPANY" by RBI and has already applied for registration as NBFC to RBI vide its letter dated 28th July 1995.The funds to be deployed in above activities has been stated under the head DEPLOYMENT OF FUNDS. The Company propose to discount the trade Bills. The names of companies to whom Bills Discounting facilities to be extended has not been decided. The names of other clients for other business activities will be appraised at appropriate time.Looking at the present economic scenario and realising the possibility of the Company''s potential of growing as one of the leading finance companies the company plans to enter rapidly emerging financial services business where the Company will be engaged in both fund-based and non-fund based activities. The Company will mainly provide the following type of services to its valued clients : i) Lease Finance ii) Bills Discounting iii) Investments