Incorporated in Aug.'85 as Arora Financial Consultants, a private company, Master Trust (MTL) got its present name in Mar.'92. The original promoter was H S Arora. In 1992, R K Singhania joined as a director and co-promoter. MTL was established to provide corporate services, and deal in shares and securities. MTL is actively involved in merchant banking activities since inception and has provided merchant banking / corporate services to various groups like Punjab Alkalies & Chemicals, the Vardhman group and many others. MTL went public in Feb.'95 to augment its working capital. The company has been accorded category-I merchant banker status from 1 Feb.'93. The matter regarding change of name to Prime Trust is pending with the Department of Company Affairs.