Jayabharat Credit Ltd Company Summary

Jayabharat Credit Ltd Summary

Jayabharat Credit Ltd originally incorporated as The Jayabharat Insurance Company Limited on 25th March, 1943, was dealing in General Insurance Business. On Nationalization of Insurance business in 1969, the Company was subsidiary to The New India Assurance Company which took over the Insurance business of the Company. Jayabharat changed course to become Non Banking Finance Company (NBFC) and took to the business of financing trucks under Hire-Purchase schemes. Leasing followed so did corporate financing. The Company has paid uninterrupted dividend since 1970 to 2008 i.e.for 34 years to its Shareholders.The Company was in the business of Hire Purchase and leasing and originally registered with RBI under the status of Non- Banking Finance Company (NBFC) with Deposit taking Company. The Company has now ceased to be Non-Banking Finance Company (NBFC) dated 13th January,2020.The main objects and activities of Jayabharat Credit Ltd (JCL) being investment and finance, hire-purchase and leasing it used to underwrite all kinds of general insurance business till Dec.1987. It started hire-purchase and financing activities since May 1989. From 1981, the company commenced leasing operations. In 1988, the company ceased to be a subsidiary of New India Assurance company. During 1990-91, the company acquired its present name from Jayabharat Credit & Investment Company. In 1995-96 company secured registration from SEBI to act as Category I Merchant Banker. In 1996-97 the company got the rating MA from M/s ICRA Ltd which denotes adequate safety i,e timely servicing of interest and principal.During the year 1999-2000, the company promoted Jayabharat Automobiles Ltd jointly with the Motor & General Finance Ltd with equity participation.The Companys Capital Adequacy Ratio is 30.35% as against the minimum requirement of RBIs 12% as on March 2001.