We introduced leasing in India during September 10th 1973...
CARE Rating assigned "highest safety" to various debt instruments...
Dr. A C Muthiah
Farouk M. Irani
V.Selvaraj
The management team comprises of¡­
 
 
BACKGROUND INFORMATION ON FIRST LEASING COMPANY OF INDIA LIMITED
Our Company incorporated as the First Leasing Company of the Country on September 10, 1973 with Mr. Farouk Irani (Pioneer of Corporate Leasing Services in India) as Managing Director. Mr. Farouk Irani has been Chairperson of the Association of Leasing & Financial Services Companies over the last 20 years.
First Leasing Company of India Limited introduced leasing in India during September 1973, 39 years back and additionally commenced Hire Purchase transactions in 1986 and diversifying into Consumer Finance during 1988.
First Leasing’s growth strategy is focussed on quality “not quantity” as we are of the considered opinion that “if you live by the numbers, you die by the numbers”. Approximately 80% of rentals are contracted with counter parties that fall in the category of Acceptable Sovereign Risks, World Class Corporates and other large domestic companies whose payment track record over the last 39 year is unassailable.
First Leasing was appointed Financial Consultant to the financial wing of the Indian Railways, namely, Indian Railway Finance Corporation (IRFC). First Leasing also completed a Rs. 75 Crores lease agreement with IRFC..
First Leasing's operations are Corporate Financing related. Some of our major clients being Citibank, Johnson & Johnson, Volvo, Seimens Public Communications, ABB, ANZ Grindlays, IDBI Bank, TELCO, Knoll Pharmaceuticals, Bayer, among many other names.
The foregoing indicates that First Leasing has met the needs of these highly service conscious, cost conscious and demanding multinationals and retained business relations with them over long periods of time.
 •  First Leasing is one of the few companies in India which maintains an uninterrupted dividend record for the last 39 years.
 •  First Leasing was the first leasing company to issue bonus shares during 1983 in the ratio of 1:3
Lease financing has been First Leasing’s forte and we were able to help many clients obtain finance at extremely competitive rates without affecting their debt structure. In addition to pioneering the concept of Leasing in India, First Leasing Company of India Limited obtained a favourable decision from the Supreme Court on Investment Allowance / Capital Allowance and several other key tax concerns from High Courts as also the Supreme Court in India and in the process contributed to the industry’s welfare by a contributing to the formation of friendly legal framework for the Indian Leasing Industry.
First Leasing was invited to address the World Leasing Conference at Washington, Sydney, San Francisco, Istanbul, Mexico, Dublin and Hong Kong during 1985, 1988, 1995, 1997, 1998, 2000 & 2001 respectively.
 
 
 
S.No Instrument Rating Risk Agency
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

     
 
 
 

 

 

 
 
 

 

Mr. JUSTICE S MOHAN, CHAIRMAN
 

V. SELVARAJ, I.A.S. (Retd.) After obtaining the Post Graduate Degree � Master of Arts in Economics in Loyola College where he studied for 6 years i.e. from 1955 to 1961- he joined Indian Administrative Service and posted to serve in Tamil Nadu in 1964.

He served the Government in various capacities such as :

Director of Industries and Commerce

Chairman of the Madras Port Trust for a period of 6 years and was responsible for the construction of the First System-based Container Terminal in India and was the earliest to introduce the concept of Container Freight Stations and Inland Container Depots. The new container terminal was declared open by Shrimathi Indira Gandhi, the then Prime Minister of India, during this period. 

Secretary to Government, Industries Department

In his capacity as Industries Secretary, he contributed immensely to the Industrial Development of Tamil Nadu, was responsible for the setting up of Madras Export Processing Zone and was in committees and decision taking bodies with Government of India in Trade and Commerce.

Director in the Board of Madras Refineries for more than 10 years.

Secretary to Government of Tamil Nadu, Housing and Urban Development in which capacity he was the Chief of the Negotiating Team with the World Bank and successfully negotiated for a large scale funding for Tamil Nadu Urban Infrastructure.

After retiring from the I.A.S, he had served in a number of corporate Groups as Advisor and as a Director in their Boards and his corporate consultancy experience of nearly 20 years covers a vast area ranging from Shipping, Industrial Development, Formation of Joint Ventures, Hospital Administration, Electric Power Generation, Information Technology and Education

 

Mr. RAJEEVA PRAKASH,