South Exchange Financial Exchange was incorporated on 11th December, 1985 and obtained the Certificate of Commencement of Business on 23rd July, 1986. It was promoted by A.M.M. Arunachalam and his associates with a purpose to prove multilateral finance and services. These services were to be undertaken under two main hands the funded operations consisting of hire-purchase, leasing shares/securities, etc. and the non-funded operations consisting of financial consultancy and support, money/liability management, etc. The Company entered into a Memorandum of Understanding with Elders Finance Group Ltd., Australia, a leading merchant bank with assets exceeding American $ 3 billion, for mangement, advisory and consultancy support especially in developing exports markets for ian capital goods and transfer of relevant and up-do-date technology. In addtion to foreign exchange management. During 1991-91, the Company received sccredition as `Merchant Banker' from the SBBI enabling it to diversify into Merchant Banking activities including public issue mangement, project financing, underwritting etc. During the year 1995-96, the company opened its Auto Finance Division to finance acquisition of cars by high networth individuals like doctors, professionals, businessmen etc.