The early eighties saw the auto finance industry grow at a faster pace than the auto industry itself. The Autoriders group which had, by that time, acquired prestigious automobile dealerships for two-wheelers, passenger cars, jeeps and LCVs, took over Zincolite Trading & Finance. Incorporated on 21 Feb.'85, with a paid-up equity of Rs 24.90 lac, it was later renamed Autoriders Finance. The company commenced financial operations in 1989-90. It entered the capital market in Feb.'93 and mopped up Rs 10.5 cr. The company has, since then, stopped all re-finance arrangements and has started deploying its own funds. AFL's portfolio with Citibank is the largest and the best, with the lowest rate of default. AFL specialises in auto financing and hence its performance is linked to the changing fortunes of the automobile industry. It is a major dealer in Maruti, DCM Toyota and Premier Auto. It was the major financier offering bookings for DCM Daewoo's Cielo. It has recently commissioned luxury coaches plying between the suburbs and major commercial centres in Bombay. The Company has worked out a support strategy by productively utilising some of the immovable properties and utilisation of its marketing and distribution strength, Same will be presented to banks & institution for serving as the basis for repaying the liabilities. Company has plan to bring a progressive shift due to increase intense competition and increasing risk in the consumer finance market. The Company has approached the reserve Bank of India and obtained in principal approval for change of the status of the Company from a NBFC to NBNF Company. The Company has decided to embark on the activity of marketing precious metals products such as gold and silver. The Company's showroom at Santacruz has already been renovated/refurnished. The refinery project, on the basis of which the company proposed the new line of business,was delayed and commenced operations on trial production in June 2000.