First Lease Finance & Investment Ltd

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Let us now flip to the ground referring to disallowance of the declare of depreciation in a sum of Rs. 75,00,one hundred. Briefly said, the facts of the case are that the assessee had leased electrical meters used by various prospects of Rajasthan State Electricity Board. These meters have been fastened within the residences in addition to in the industrial places and were owned by the Rajasthan State Electricity Board. This was formally sold to the assessee and the assessee in turn leased out these items again to the Rajasthan State Electricity Board.

EMIS company profiles are part of a larger information service which combines company, business and country knowledge and evaluation for over one hundred forty five rising markets. Find Asset Finance Companies in India with firm name, regional office address and city. You may, nevertheless, see its basic data and its directors by scrolling down. Tofler has no financial stories to offer on this firm because of unavailability of economic data. Capital First Home Finance Limited’s operating revenues vary is INR 1 cr cr for the financial 12 months ending on 31 March, 2017.

After sure initial payment of lease amount, they weren’t paying the lease quantity to the assessee-company. The assessee’s correspondence didn’t produce any result. Therefore, the assessee-company had filed a legal notice and a petition for winding-up underneath sections 434, 433 and 439 of the Companies Act, 1956 in the Delhi High Court.

Dhaka Stock Exchange Bangladesh weblog provides necessary data on DSE listed shares, corporations and Bangladesh stock market. search engine optimization Service Provider offers all types of Search Engine Optimization , Search Engine Marketing and Social Media Marketing & Optimization companies. Whatever the outcome of the forensic audit, it is highly doubtless that the First Leasing Company of India might find yourself being the final leasing firm in the country. The younger banker was Farouk Irani who threw up his job to start a leasing firm in Chennai in 1973.

Get real-time stock quotes & charts, financial information, foreign money conversions, or track your portfolio with Google Finance. Avail easy finance for rural development, vehicle loans, SME loans to start your small business from Mahindra Finance. Investopedia is a premiere useful resource for investing education, private finance, market evaluation and free trading simulators. Graphical report containing historical financial performance. Lifetime entry to all paperwork Download all Available documents in one click View Events Timeline – List of all firm events since inception. Annual growth percentages for latest two years in native currency BDT.

It can’t be equally held that the appellant actually owned the assets. Thus the appellant won’t be entitled for depreciation on the assets. The staff are trustworthy and faithful labu google finance in serving the corporate and keep full secrecy when it comes to internal affairs to the surface world.

First Finance Limited was integrated in Bangladesh as a Private Limited Company on June 28, 1993 and the company was subsequently converted into Public Limited Company July 18, 1996.The Company obtained license from Bangladesh Bank October 5, 1999. The Company provides its monetary companies to its clients for each Industrial and Commercial within the form of Lease Financing, Term Loan Financing, Real Estate and Housing Financing, SME Financing, FDR service to its customers. He said his personal shareholding in the firm was lower than 0.3% and that he wouldn’t profit or aggrandise himself by indulging in malpractices. He says that the companys financials have been endorsed by the CFO, the directors, the chairman, and approved by the statutory auditors and the audit committee. He claims that the accounts have been tampered with without his data.

He also had observed that the appellant can’t be held to be the owner of the property. The firm offers lease finance for capital equipment, tools, vehicles, etc. each for industrial and industrial purposes. It additionally provides time period financing, housing finance including bangladesh bank housing refinance scheme. First elase accepts deposits from local and company bodies, insurance coverage companies, banks and people with attractive fee on their deposit.

To guarantee regular and long run development as nicely as to sharpen its competitive edge in an ever altering and challenging enterprise setting. FFL all the time endeavors to diversify into different financial companies, which have long-term prospect. In the 12 months 2001, we expanded our vary of companies by introducing Housing Finance. In line with further diversification program FFL has encouraged in transport financing, SME financing and Bangladesh Bank Refinancing initiatives. The company also supplies FDR and MSS to its priceless customers.

Let us take up the ground regarding disallowance of dangerous money owed. Briefly acknowledged, the information of the case are that while processing the evaluation of the assessee-company underneath part 143 of the Income Tax Act, 1961, the assessing officer observed that the assessee had claimed a sum of Rs. 5,31,097 as unhealthy money owed. The assessing officer discovered that the assessee-company had leased sure property to M/s.