DCM Financial Services Ltd. (DFS) was incorporated as Tanvi Leasing and Finance Pvt. Ltd. on 13th February, 1991. The name was subsequently changed to DCM Financial Services Pvt. Ltd in February 1992 to reflect the fact of its DCM pedigree as also the nature of its business. There after the Company became a public Company in July 1993 under the provisions of Sec. 43-A of the Companies Act, 1956. Thereafter Shareholders of the Company passed a Special Resolution on 3rd June, 1994 for deleting the restrication clause under the Section 3(1)(iii) of the Companies Act, 1956 and as such Company became fully Public Limited Company within the meaning of Section 3(1)(iv) of the Companies Act, 1956. The Company commenced its operations in April 1991. The Company belongs to the DCM Ltd. group, which was earlier a part of the DCM group established in the year 1889. The DCM group was split up into four groups in the year 1990, one of them being the DCM Ltd., a group headed by Dr.Bharat Ram. Over the years DCM has grown into one of the leading multi-product conglomerates of the country. The business interests of DCM Ltd today include Textiles, Engineering, Automobiles, Electronics and Real Estates amongst others. DFS is a subsidiary of DCM International Limited, which inturn is wholly owned subsidiary of DCM Ltd. The Company is a Non-Banking Financial Company and is governed by the Non- Banking Financial Companies (Reserve Bank) Directions, 1977, issued by the Reserve Bank of India. PRESENT ACTIVITIES OF THE COMPANY The Company commenced its operations in February, 1991. The main activities under taken were lease financing of commercial vehicles. Since then the Company has steadily grown and has added expertise in various areas of financial services. It has also developed the requisite systems and infrastructure, in line with the market trends and future growth. Today, the Company's cumulative exposure in vehicle financing is in excess of Rs.24 crores representing 1029 vehicles and 861 customers. In addition to lease financing, the Company has added new services like Stock Broking, Bill discounting, Inter Corporate Financing, Advisory services, Equity research, Bridge Financing etc. Lease and Hire Purchase: The Company is the largest financer of DCM Toyota trucks (Dyna) in India. The expertise and knowledge gained by the Company in the area of LCV financing shall help the Company in diversifying its portfolio into other areas of vehicle financing such as HCVS, passenger cars etc. The Company projects disbursements of Rs 20 Crores in the coming financial year in this area. Corporate Lease: The Company has a diversified corporate lease portfolio with some of the major business houses of the country availing lease / hire purchase facilities from the Company. Keeping in view the projected growth in the economy and particularly in industry, trade and infrastructure, the Company foresees adequate demand to meet the projected levels of disbursements and profitability. Money Market Operations (Bill discounting/ICDs): As part of the total financial services offered to the clients, the Company arranges short term funds by way of discounting of trade bills and placement of intercorporate deposits. In this activity, the Company deploys its own funds as well as acts as an intermediary between clients. In this segment the Company has stabilised its operations in a short span and foresees tremendous growth because of the increased usage of such instruments in the Indian Money Markets. Investments & Broking : The Company is engaged in investment in primary and secondary equity markets. Long and short term investment decisions are taken based on extensive research. The Company proposes to engage in the business of corporate broking and institutional broking including private placement of securities and trading in debt instruments. The Company has acquired the dealership of OTCEI. Merchant Banking: The Company is proposing to enter into merchant banking activities and has already obtained SEBI approval to act as Category I merchant banker. Main activities which the Company is proposing to commence are Issue Management, Underwriting, consultancy services, credit syndication and technology tie-up services. Activity wise performance data for last 3 years (Rs inlacs) 1993-94 1992-93 1991-92 A) Income from operations 1) Leasing - Gross 491.35 408.18 339.02 2) Hire Purchase-Gross 80.53 34.94 6.65 3) Bill Discounting - Gross 2.45 2.40 - B) Disbursements Made 1) Leasing - Gross 346.96 315.10 942.57 2) Hire Purchase - Gross 574.36 307.58 212.29 3) Bill Discounting - Gross 365.88 27.71 - C) Bad Debts 1) Leasing /H.P. 14.69 - - D) Recovery Percentage 1) Leasing & Hire Purchase 91.06% 90.07% 89.71% 2) Bill Discounting 100% 100% 100% Investment Policy The Company's investment policy is based on strict criteria in appraising credit risks and norms for the company's credit exposure based on overall and individual exposure to each Industry, Company and activity, security of the transaction, balancing between risk and return. The Company closely monitors and reviews its outstanding commitments/positions/transactions periodically depending upon the amount of exposure, market conditions, payment record of the party and other relevant factors. The powers for overall deployment of funds are vested with the President of the Company which are reviewed from time to time by the Board. There are no non-recoveries of principal/interest due, or bad and doubtful debts from Companies in which the Directors are interested 2002 - DCM Financial Services Ltd has informed that a massive fire reportedly due to an electric short circuit broke out on the intervening night of March 20 & 21, 2002 at around 2.00 A. M. at their office premises at New DelhiMost of the important documents, files and records relating to Secretarial, legal and other departments has been completely burnt. 2011 -Registered Office of the Company has been shifted To D 7/3 Okhla Industrial Area-II,New Delhi - 110020. 2012 -DCM Fin Services awarded by Sole Arbitrator in the matter of `MS Shoes East Limited Vs DCM