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Ascom Leasing & Investments Ltd.

BSE: 535350 Sector: Financials
NSE: ASCOM ISIN Code: INE08KD01015
BSE 05:30 | 01 Jan Ascom Leasing & Investments Ltd
NSE 05:30 | 01 Jan Ascom Leasing & Investments Ltd

Ascom Leasing & Investments Ltd. (ASCOM) - Company History

Ascom Leasing & Investments Limited was incorporated on December 16 1986. The Company received the certificate of Commencement of Business on January 07 1987. Subsequently the Company has shifted the Registered office from Hyderabad to Surat vide certificate issued by the Registrar of Companies Ahmedabad on November 23 2015. The Company holds the certificate of registration dated December 17 2015 bearing registration number B-01.00559 issued by the RBI Ahmedabad Regional Office to carry on the activities of a non-deposit taking NBFC with the RBI under section 45 IA of the RBI Act 1934. The Company started its business as NBFC in 2001 with the mission of providing services to economically active poor who are not adequately served by the financial institutions. The company is engaged in the business of finance hire purchase leasing and lending terms loans mortgage financing. Its customers include first-time buyers of vehicles self-employed and professional or non-professional individuals small and medium entrepreneurs and customers with informal income and limited banking and credit history. As of June 30 2019 the company has around 2000 plus active customers. The Company operations are concentrated in the State of Gujarat Only. Being the NBFC - Non-Deposit company company is not entitled to take deposit from the general public and the company sources the funds from the promoter investments and Bank funding. At present the company having NIL revenue from the trading operations. The Company offers a diverse range of loan products to cater to the specific requirements of its customers. These products can be classified under two broad categories namely mortgage loans and individual loans. Depending upon the end use these products can be further sub-divided into education home improvement home purchase vehicle purchase etc. The Company has adopted a decentralized management structure for its operations comprising presence in more than 22 districts across Gujarat. Its management hierarchy consist of leadership personnel who is responsible for taking on ground operational decisions. They possess significant experience in banking and financial services industry which helps the company to understand the ground reality and local diversity of a particular region enabling quick decision making. As of June 30 2019 the company served over 2062 customers with business size of exceeding Rs. 20 crores. Its growth has been rapid and calibrated in equal measure. The Company has a dedicated service quality department addressing customer grievances and their feedback.

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