Rich Universe Network Share price

The company was originally incorporated as Rich Hire Purchase Ltd. on 16th July 1990 and Certificate of Commencement was obtained on 21.8.90. The name of the company was subsequently changed to Rich Capital & Financial Services Ltd in terms of Special Resolution passed at Extra-Ordinary General Meeting held on 18.9.93 and a fresh certificate of incorporation was issued on 4.10.1993. The company has completed 4 years of operation. Its main activities have been leasing hire purchase and portfolio investment.The company is engaged in the business of hire purchase leasing and finance since its incorporation. The company has also been engaged in giving loans against securities. The company is also engaged in trading of securities.MAIN OBJECTS OF THE COMPANYThe main objects to be pursued by the Company on its incorporation are1. To carry on all or any of the business of or usually carried on by Hire Purchase Companies for domestic articles motor vehicles and to lend money (not amounting to banking business) on personal security or on the security of leasehold and freehold land and advance money to persons firm or companies and upon such terms and conditions as may seem expedient subject to Money Lending Act and subject to directives of RBI.2. To do business of financiers subject to the Banking Regulation Act 1949 and to invest subscribe for acquire buy sell underwrite hypothecate deal in and dispose of any shares bonds certificates receipts properties. The Company shall also not carry on any activity prohibited under Prize Chits & Money Circulation Scheme (Banking) Act 1978.PRESENT BUSINESS OF THE COMPANYThe Company is a Non-Banking Financial Company (NBFC) presently engaged in the business of providing lease & hire purchase finance loans & advances and trading of securities. The company has been into operations since 1990 and has been actively involved in hire purchase and lease finance. The hire purchase stock of the company was 3.19 lakhs 1.96 lakhs 1.61 lakhs and 1.61 lakhs in 199219931994 and on 30th September1994 respectively. The leased assets of the company were 20.00 lakhs in 1994 and 25.35 lakhs as on 30th September 1994.The company is also engaged in providing loans against securities.The loans against securities were 10.44 lakhs 9.91 lakhs 38.35 lakhs and 104.33 lakhs in 1992 1993 1994 and as on 30th September 1994 respectively.SUBSIDIARIESThe Company has no subsidiary at present.