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YEAR EVENTS
1988 - The Company was Incorporated with Registrar of Companies, Calcutta as a Private
Limited Company on August 10th, in the name of Inter State Finance and Leasing
Company Private Limited.
- Inter State Finance Private limited (ISFL) was promoted by Sh. Amarjit Singh,
Sh. R.N.Grover, Sh. B.K.Moorthy and Sh.Anil Madhok, jointly with the object of
carrying on the business of financiers, hire purchase and leasing etc.
- The company is engaged in the business of hire purchase and leasing business
and LCVs (light commercial vehicles). It has also financed plant and machinery to
a limited extent.
1992 - The name was changed to Inter State Finance Private Limited on July 27, subsequently
it was converted into Public Limited company on 3rd October, 1994.
1996 - Mr. K Sankaran Nair is a very senior, was awarded PADMA BHUSHAN, for his
outstanding Services to the Nation as Deputy Chairman and Secretary General of ASIAD'82,
- The Board appointed Mr. Amarjit Singh, as Managing Director of the company at a
specific remuneration for a period of five years.
- Mr. Anil Madhok, Mrs. Simbal Singh and Mr. B.K Moorthy, retire by rotation at the ensuing
Annual General Meeting and being eligible offer themselves for reappointment.
- The rating agency has assigned A+ to the Rs.40 crore NCD (non-convertible debenture)
issue of JK Industries Ltd.
- The outstanding rate of Interstate Finance Ltd (ISFL) fixed deposit programme has been
downgraded from FA+ to FA by Crisil, the leading credit rating agency.
1999 - The Company has been able to enter into an arrangement with a major Foreign Bank
for financing of commercial vehicles.
- CARE granted the Company an Investment Grade Rating of CARE BBB (FD)'
[Triple B], which indicates sufficient safety for payment of interest and principal.
- Mr. B. K. Moorthy, Mr. K. S. Sankaran Nair & Mr. Harish Gandhi, Directors of the
company, retire by rotation at the ensuing Annual General Meeting and being eligible
offer themselves for reappointment.
2000 - Crisil has suspended its FB rating, indicating inadequate safety assigned to the
fixed deposit programmes of Inter State Finance Ltd, Key Corp. Ltd. and Mangalam
High Seas Ltd. for lack of co-operation from them in carrying out a rating review.
2005
-Company has splits its Face value of Shares from Rs 10 to Re 1
2009
-Company has changed its name from Inter State Finance Ltd. to ISF Ltd.
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