How Finance Companies Differ From Credit Cards, Banks

Whether it’s buying a car, paying medical bills or purchasing furniture, if you’ve had to finance one of life’s big-ticket items, you’ve probably been offered the chance to take out a loan from a finance company. V. the book value of debentures, bonds, outstanding loans and advances (including hire-purchase and lease finance) made to, and deposits with subsidiaries of such company and companies in the same group to the extent such amount exceeds ten per cent of Owned Funds i.e. aggregate of the paid-up equity capital and free reserves as disclosed in the latest balance-sheet of the company after deducting accumulated losses, deferred revenue expenditure and other intangible assets.Finance Companies

Apart from streamlining their processes through technology initiatives such as ATMs, telephone banking, online banking and web based products, banking industry also resorted to cross selling of financial products such as credit cards, mutual funds and insurance policies to augment their fee based income.Finance Companies

I have bought the following companies from the market this month – Broadway, CEI, Cheung Woh, Elec & Eltek, Excelpoint, Far East Orchard, Federal, GLP, Hiap Hoe, Hiap Seng, Hotel Grand Central, Hwa Hong, iFAST, K1 Ventures, Karin, Keppel Corp, Koh Brothers, LH, Low Keng Huat, Lum Chang, Multi-Chem, Pacific Century, Plato Capital, SembCorp Industries, SingTel, Sunningdale, Tan Chong International, TIH, UIC, United Engineers, UOA, UPP and Wing Tai.

If you receive a product/ loan proposal from anybody with a name similar to Aditya Birla Finance Limited or claiming to be from Aditya Birla Finance Limited or Birla Global Finance Limited or Birla Finance Limited or any other name which exhibits any connection with Aditya Birla Group or if you have any doubts about such proposal, please feel free to contact Aditya Birla Finance Ltd.

In the present case, the applicant is a professional shareholder named Mr. Anil Kumar Poddar (hereinafter referred to as the ‘Applicant’) who holds 5 to 10 shares in various listed companies and, exercising shareholders’ rights, demands copies of the company records, registers, minutes, etc.Finance Companies