The company was incorporated on April 2, 1979 as Raksons Finance Private Limited and subsequently converted into a Public Limited Company and change of name to Raksons Leasing and Finance Ltd., vide fresh certificate of incorporation issued by the Registrar of Companies, Delhi & Haryana, dated 26.12.1985 under the Companies Act, 1956 and then the name of the company was changed to RLF Ltd., vide fresh certificate of incorporation dated 02.03.1994. RLF Limited is engaged in the business of financial services, hire purchase and leasing proposes to diversify in to cultivation and canning of 1890 tpa of white button mushrooms in the assisted sector with Haryana Agro Industries Corporation Ltd (HAIC) and financial cum technical collaboration with Dalsem Veciap b.v. Agro Industries, Holland, at 14 Km Stone, Gurgaon Pataudi Road, Dist.: Gurgaon, Haryana. RLF has served a niche for itself over the years by providing various financial services under one roof. The clientele of RLF include established industrial groups like Flex Industries Ltd, DLF Universal Ltd, Kwality Ice Cream, Inalsa Limited etc. and their portfolio comprise mainly of auto units and capital goods industry. RLF has decided to discontinue leasing, hire-purchase activity w.e.f. 1st April 1994, as they now proposes to concentrate on their mushroom project. Promoters: RLF was promoted by Shri. R. K. Khanna. PROJECT RLF has now embarked upon a project for growing Mushrooms under total environment control in technical collaboration with Dalsem Veciap b.v Agro Industries Holland and with assistance from Haryana Agro Industries Corporation Ltd. (HAIC). The project will have a capacity of 1890 tons P.A. of fresh white button mushrooms under optimum conditions. TECHNICAL CUM FINANCIAL ARRANGEMENTS RLF has entered into technical-cum-financial collaboration with DALSEM VACIEP b.v. HOLLAND for supply of technical know-how, critical machinery and for worldwide marketing of the produce. The collaboration agreement is for an initial period of 5 years w.e.f. 4th June 1993 with a clause for further extension of 5 years at mutually agreed terms. FINANCIAL ARRANGEMENT DALSEM shall subscribe in cash at par for such number of equity shares of RLF which shares will be equal to 10% of the total number of equity shares, subject to a ceiling of Rs Ninty Lacs. However, these shares will either be subscribed for directly by Dalsem at the time of the issue of new capital or will be purchased by them from the Promoters, later on, after the opening of Letter of Credit for purchase of supplies. DETAILED OF OTHER GROUP COMPANIES United Leasing Limited (ULL). ULL was incorporated in January 1983, as a public limited company and commenced business in December 1983. The main business of ULL is the giving of all kinds of equipments on lease/hire purchase and to carry on the activity of providing financial services including Merchant Banking and other allied activities.