Rushabh

Manipal Finance Corporation Ltd ss YEAR EVENTS 1984 - The company is incorporated on 29th March. The partnership obtained the Certificate for Commencement of Business on 24th April. It was promoted by the Pais of Manipal engaged in the business of make purchase, finance and leasing of industrial and commercial goods and vehicles, general finance, agency, guarantee and indemnity. 1985 - 2,00,000 shares offer by promoters etc. 1986 - 8,00,000 shares issued at par of which 2,00,000 shares were reserved and dole out to promoters, directors, etc. and business associates. Another 40,00,000 shares were reserved and allotted on a preferential basis to employees of the association. The remaining 5,60,000 shares offered to the public in July. 1989 - The Company transacted hire purchase business to the extent of Rs 10.19 crores. 1990 - 2,700 forfeited shares all reissued or forfeiture on them annulled. 5,00,000 rights shares issued at par in prop. 1:2 (all were taken up). Simultaneously another 25,000 shares issued at par to employees of the company (only 17,080 shares taken up). 1992 - During January, the Company issued 10,11,387 Rights blondness shares of Rs 10 to each one for cash at a premium of Rs 5 per share in pro specify 2:3 (all were taken up).

Additional 1,51,708 shares were allotted to retain oversubscription. - Another 50,569 No. of equity shares of Rs 10 each at a premium of of Rs 5 per share were offered to the employees on an equitable basis (only 26,159 shares taken up). Unsubscribed portion of 24,410 shares was allowed to lapse. 1994 - 13,53,167 No. of equity shares allotted as rights at a premium of Rs 5 per share in prop. 1:2. 1995 - The Company allotted 26 lakhs warrants of Rs 19 each on preferential basis to promoters and their associates. These are convertible into equity shares of Rs 10 each at a premium of Rs 9 per share. - The Company allotted 5,00,000-17% cumulative redeemable preference shares of Rs 10 each on private placement... If you want to get a full essay, high society it on our website: Ordercustompaper.com

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