CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED An Mugugappa group of company
Cholamandalam Investment and Finance Company Limited (CIFCL) CholamandalamInvestment & Finance Company Limited (CIFCL) is an Public Company it was incorporated in 1978 as the financial services arm of the Murugappa Group. Murugappa Group is one of India's leading business conglomerates. The Group has 29 companies under its umbrella. The CIFCL Company operates from over 200 branches across India with an assets under management over Rs.9000 Crores.
BOARD OF DIRECTORS Mr. M B N RaoChairman Mr. VellayanSubbiahManaging Director Mr. IndreshNarainNon-executive Director Mr. V P MahendraNon-executive Director Mr. R V KanoriaNon-executive Director Mr. N SrinivasanNon-executive Director Mr. L RamkumarDirector
MEMORANDUM OF ASSOCIATION The Registered Office of the Company is situated in the State of Tamil Nadu, Chennai. CholamandalamInvestment & Finance Company Limited (CIFCL), Dare House, Ist Floor, 2, NSC Bose Road,Chennai 600001. Primary (or) Main Objectives
Realign the business model to address strategic customer segments
Improve collection infrastructure and increase geographical penetration
Maintain asset quality
Reduce Losses on existing loan portfolio
Ancillary (or) Sub Objectives
Proceeds from the exercise of warrants shall be utilized to pursue organic and inorganic growth opportunities.
Opening of new branch offices
Require about 1,50,000 sq ft of additional space in the next 2 to 3 years for
retail business, regional offices and business locations.
Increase branch network & introduce new product lines such as Tractors , Farm Equipments
Enhance cross selling to improve profitability
ARTICLES OF ASSOCIATION
CERTIFICATES OF SHARES,
CALLS ON SHARES,
TRANSFER AND TRANSMISSION OF SHARES,
REDUCTION AND ALTERATION OF SHARE CAPITAL,
MODIFICATION OF RIGHTS OF SHARE HOLDERS
VOTES OF MEMBERS,
POWERS OF THE BOARD,
CAPITALIZATION OF RESERVES,
REGISTERS AND DOCUMENTS.
SHARE CAPITAL Issue Price and Face value
An Issue Price of Rs. 140 has been determined by our Company in consultation with the Lead Manager. The face value of the equity shares is Rs 10 and the Issue price is 14 times the face value.
Present Market Price of Share is Rs.102.40/-
The Board has at its meeting held on 3rd April has recommended to the shareholders an issue of 1,08,93,852 equity shares aggregating to about Rs.100.23 crores on preferential basis to International Finance Corporation at a price of Rs.92/- per share
ANNUAL GENERAL MEETING The Annual General Meeting in Cholamandalam is conducted every year in the month of July. Here in this meeting the problems in the company will be passed as resolution and the Shareholders are made to vote and the solution which gets the maximum vote is favoured to the resolution according to the Companies Act, 1956. In this Annual General Meeting two of the topics are discussed with the board.
Ordinary Resolution Inthe ordinary course of the business will be discussed like retirement of directors through rotation and reappointment of another director in that place Special Resolution Here the discussion will be made on the most important decisions to be taken in the company and they will also discuss weather this change in the structure will lead to the growth of the company or not.