Tirupati Finlease Limited was originally incorporated in the name of Tirupati Trade Comm Pvt. Ltd. on November 2, 1993. It was converted into public limited company on March 31, 1995. On April 18, 1995 the name of the Company was changed to Tirupati Finlease Limited to commence fund based and non fund based services of the Company.
The main objects of the Company as set out in the Memorandum of Association are as follows
1. To provide investment services by acting as managers to the public issue of shares, debentures, bonds, securities by underwriting and to act as issue houses and to pass on the benefits of portfolio investments to the investor as dividends, bonus, interest.
The Company has passed a special resolution at the extra ordinary general meeting of the Company held on July 10, 1995 pursuant to section 149(2A) of the Companies Act, 1956 to commence business set out in sub clauses 7 and 21 of other objects in clause III in the Memorandum of Association of the Company which are as under.
Sub Clause 7
To perform and undertake activities and carry on business pertaining to leasing, giving on hire or hire purchase, warehousing, factoring, providing financial assistance by means of leasing, giving on lease, hire or hire purchase, landing, reselling or disposing of all forms of immovable and movable properties and assets including buildings, godowns, ware house and real of any kind, nature or use and all types of agricultural, industrial, domestic and other plants, equipments, and machinery including heavy or medium agricultural industrial machinery, computers, electronic data processor, tabulators, air conditioners, medical equipment, domestic equipment or appliances or any system or products whether industrial or consumers and all types of auto mobiles, air craft, vehicles and ships.
Sub Clause 21
To carry on the business of investment company and to invest in acquire and hold shares, stocks, debentures, debenture stocks, bonds, obligations and securities issued or guaranteed by any company, firm, persons, government, local authority pr institution whether in India or elsewhere and also carry on the business for to buy and invest in national saving certificates, Unit Trust of India, Public Provident Fund and other Government Schemes existing from time to time.
Presently the Company is engaged in investment and securities trading only.