Promoted by managing director R Alagendran, Alagendran Finance Ltd., formerly known as Alagendran Finance & Leasing Co (AFLL) was incorporated in 1989 at Coimbatore, Tamilnadu. The company's corporate office is located at Madurai. AFLL operates through its seven branches located at Madurai, Coimbatore, Karaikudi, Sivakasi, Madras, Salem and Trichy. AFLL is engaged in the business of providing financial services, merchant banking, portfolio management and money changing operations. The money changing operations have commenced at Madras after obtaining RBI permission. The Credit Rating Information Services of India (CRISIL) has assigned FA rating to the fixed deposit programme of the company, indicating that the degree of safety regarding timely payment of principal and interest is adequate. The company's activities conform to the policies and objectives of RBI. The company plans to venture into vehicle finance, portfolio management and merchant banking. Rajkrishna Investments Pvt Ltd is the subsidiary of AFLL. In 1995-96, the company was appointed as a dealer for the Over The Counter Exchange of India (OTCEI) at Madurai. The company was also admitted as a corporate member to the Coimbatore Stock Exchange during the same year. During the year, total disbursements of the company under hire purchase, lease and other business contracts amounted to Rs 15.09 cr as against Rs 12.58 cr during 1994-95 showing an increase of 20%. The total Public Deposits was decreased to Rs.704.93 lakhs from Rs.789.82 lakhs as on March 2001.