Ramchandra Leasing & Finance Ltd

Ramchandra Leasing and Finance Ltd (RLFL) was established on February 2nd, 1993, originally as Ramchandra Leasing and Finance Private Limited in Gujarat. It transitioned into a Public Limited Company on January 3rd, 1996, receiving a new Certificate of Incorporation from the Registrar of Companies. Founded by Shri Rameshchandra M Patel and Shri Yogeshkumar N Joshi, the primary activities of RLFL include Hire Purchase, Bill Discounting, Investments, and Inter-corporate Deposits. The company adheres to prudential norms regarding Income Recognition, Accounting Standards, asset classification, and provisioning for bad and doubtful debts, as mandated by the Non-Banking Financial (Non Deposit-taking non-systematic Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions -2007. Hire-purchase is a type of installment credit offered by RLFL, wherein the hire-purchaser (hirer) agrees to rent goods with an option to purchase. RLFL also provides financial assistance in the form of secured and unsecured loans to corporate bodies, requiring a total fund of Rs. 511 lacs for these activities. To cover these expenses, the company conducted a Public Issue in August 2006, offering 24,20,000 Equity Shares of Rs. 10/- each for cash at par, totaling Rs. 242 Lacs, with the remaining 269 Lacs contributed by the Promoters.