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Mangalam Industrial Finance was incorporated on February 08, under the Companies Act, 1956 with an object to carry on the business of Financing Industrial Enterprises by way of lending and advancing money for machinery, land, building shed or such other things as payment finance. On May 23, 1983 the object was amended further to make investment /trading in shares & securities etc and to carry on all types of financing business including Housing Finance.
In the year 1983 the object clause was further amended to manufacture and trade in agriculture based products of soil viz; tobacco, jute, cotton, textiles sugarcane, vegetable products, oilseeds, food grains etc. The company intended to operate in two segments i.e. NBFC and Agriculture based industry. However, the company is solely concentrating in the NBFC segment and registered as a Non Banking Financial Company with RBI, Kolkata and currently is primarily focusing on providing various financial solutions.
Business area of the company
The company provides financial services through simple processes and simple procedures in sanction and disbursement of credit as well as timely, friendly and flexible terms of repayment aligned to the unique features of its clientele.