Promoted by Champaklal Investments & Financial Consultancy, CIFCO Finance (CFL) was incorporated in 1984. The company is engaged in leasing, hire-purchase, bill discounting and investments. The company's clientele includes corporate clients like Kalyani Steels, Pertech Computers, Pfizer, VXL, Applied Electronics, LML, Incab Industries, Foods & Inns, Muller & Phipps, etc. In 1991, the company launched an asset management company for floating a mutual fund, CIFCO mutual fund. The asset management company floated a venture capital fund with equity participation by a west Asian financial institution. CFL's subsidiaries are CFL Securities, Kesuda Investments and Trading Pvt Ltd. CIFCO Travels which was a subsidiary of the company, ceased to be one since Jun.'96.