Motor & General Finance Ltd. Company History and Annual Growth Details

The Motor & General Finance Limited (MGF) the flagship company of MGF Group was incorporated in 1930. It is one of the oldest finance companies of India. The Company was managed by the Board of Directors under the astute leadership of Shri Ved Prakash Gupta, the founder Chairman of the Company. His office functioning made the MGF to become a leading Non Banking Finance Company in the country. He was doyen of automobiles financing in India particularly by the hire purchase mode.

1930 - Motor and General Financial Limited was incorporated at Delhi.
The company grants finance against motor vehicles on
hire-purchase system. It acts as a dealer for Tata Benz vehicles
for Kerala and a part of Madhya Pradesh. It is also undertaking
leasing business.

1981 - 10,000-14.28% and 50,895-10% preference shares were converted
into 25,000 No. of equity shares and 50,895 No. of equity shares
respectively.

1983 - The Company issued 5,00,000 secured Redeemable Non-Convertible
Debentures of Rs 100 each aggregating Rs 5 crores to the existing
shareholders on a rights basis.

1984 - The Company signed a joint venture agreement with International
Finance Corpn., Washington for starting leasing company called
India Lease Development, Ltd.

1985 - Approvals from the Government of India, Ministry of India and RBI
were received.

- In January, the Company iossued 5,00,000-15% secured redeemable
non-convertible debentures of Rs 100 each at par as rights to
shareholders in the ratio 1:5 and also by way of private
placement. The issue was oversubscribed and the Company allotted
20,611 additional debentures to retain the excess subscription.

1992 - As per sanction received from BIFR, NAP was merged with the
company effective 1.4.1991.

1995 - The Company received registration as catgory I Merchant Banker.

2000 - ICRA Ltd. and Duff & Phelps Credit Rating India Pvt. Ltd. have
revised their credit ratings to `MA-' and `IND A-'.

- Mr. S.K. Singh has resigned from the directorship of the company.

2001 - ICRA has placed the fixed deposit ratings of MA-, assigned to the Motor &
General Finance Ltd., MGF (India) Ltd.
2002

-Lalit Gupta appointed as Additional Director of Motor & General Finance.

2003

- The undernoted Directors will be retiring by rotation: 1) Mr. Rajiv Gupta 2) Mr. Bharat Kumar 3) Mr. Arun Mitter.

2004

-The shares of Motor & General Finance Ltd delisted from Delhi Stock Exchange Ltd

2008

- Motor & General Finance Ltd has appointed Mrs. Arti Gupta, Director as Joint Managing Director of the Company for a period of three years effective from June 05, 2008 to June 04, 2011.


2009

- MGF Services Ltd have informed the acquisition of shares of The Motor & General Finance Ltd.

- Have allotted 277 equity shares to the shareholders of transferor companies, namely NAP Sales Private Limited and Janata Cinemas Properties & Finance Limited in the ratio as mentioned in the Scheme of Amalgamation.

2010

-Board has recommended a dividend of Rs.2/- per equity share i.e. 20%.

2011

-Board has recommended a dividend of Rs.1.50 per equity share of Rs. 10/- each i.e. 15%.

2020

- Company has splits its face value from Rs. 10/- to Rs. 5/-.