|
|
|
| |
| Additional information |
| |
| First Leasing Company of India Limited |
| |
| |
Overview:
First Leasing was incorporated as the First Leasing Company of the Country on September 10, 1973. Mr Farouk Irani promoted the Company. We have been the chairperson of the Association of Leasing & Financial Services Companies over the last 15 years.
First Leasing Company of India Limited introduced leasing in India during September 1973, 36 years back and additionally commenced Hire Purchase transaction in 1986 and diversified into Consumer Finance during 1988.
The total profit of First Leasing grew to Rs.70.75 Crores during the fiscal year ended on 31st March 2011. First Leasing financial assets are focused on quality not 'quantity'. Approximately 80% of the rentals contracted are with counter parties representing Sovereign Risks, World Class Corporates and other large domestic companies whose payment track record over the last 37 year is unassailable.
The British government through the instrumentality of Commonwealth Development Corporation (CDC) took equity in the equivalent of GBP 2.5 million.
First Leasing was appointed as financial consultants to the financial wing of the Indian Railways, namely, Indian Railway Finance Corporation (IRFC). First Leasing recently completed a Rs.75 Crores lease agreement with IRFC.
First Leasing's operations are primarily focused on corporate financing. The major clients
being CitiBank, Johnson & Johnson, Volvo, Seimens Public Communications, ABB, ANZGrindlays, IDBI Bank, TELCO, Knoll Pharmaceuticals, Bayer among many other names.
The foregoing indicates that First Leasing has met the needs of these highly service conscious, cost conscious and demanding multinationals and retained business relations with them over long periods of time.
? First Leasing is one of the few companies in India which maintains an uninterrupted dividend record for the last 36 years.
? First Leasing was the first leasing company to issue bonus shares during 1983 in the ratio of 1:3
? First Leasing holds premium contributions of Rs.277,779,360 against an equity of Rs.227,906,060 which as a percentage works out to 82.05% demonstrating unquestionably that the Indian primary market is ready to support First Leasing with premium payments.
Lease financing has been First Leasing¡¯s forte and we were able to help many clients obtain finance at the most competitive rates without affecting their debt structure. In addition to pioneering the concept of Leasing in India, First Leasing Company of India Limited obtained a successful decision from the Supreme Court on Investment Allowance / Capital Allowance and several other key tax decisions from High Courts in India and in the process contributed to the industry¡¯s welfare by outlining a friendly legal framework for the Indian Leasing Industry.
First Leasing was invited to address the World Leasing Conference at Washington, Sydney, San Francisco, Istanbul, Mexico, Dublin and Hong Kong during 1985, 1988, 1995, 1997, 1998, 2000 & 2001 respectively. |
|
 |
|
|
|
|
|
 |
|
 |
|
|
