BFL Asset Finvest Ltd

BFL Asset Finvest Limited (formerly known as BFL Developers Limited) was incorporated in August 31, 1995. The Companys main business is dealing in shares, securities, trading in commodities futures and options.During the year 2015, Jaisukh Developers Private Limited ceased to be an associate Company.The Equity shares of the company were listed with the Jaipur Stock Exchange Limited, Ahmedabad Stock Exchange Limited and Calcutta Stock Exchange Limited. However the SEBI vide its exit order no. WTM/RKA/MRD/20/2015 dated March 23d, 2015 withdrew the recognition granted to Jaipur Stock Exchange Limited. Consequently the Jaipur Stock Exchange Limited has been derecognized w.e.f March 23rd, 2015. At present, the Equity shares of the company are listed with the Ahmedabad Stock Exchange Limited and Calcutta Stock Exchange Limited. Further, the Company has initiated process of Direct Listing with BSE Ltd under the Direct Listing norms.During the year 201718, the Company obtained the consent of shareholders by passing Special/ordinary Resolution through Postal Ballot dated May 3, 2017 result of which was declared on June 23, 2017 for the following matters: a) For change in name of the company from BFL Developers Limited to BFL Asset Finvest Limited and consequent amendment to name clause of Memorandum of Association and Articles of Association of the company. b) To increase the authorized share capital from Rs. 5,50,00,000/ to Rs.12,00,00,000/ and consequent alteration of Capital Clause of Memorandum of Association. c) To issue 51,00,000 equity shares on preferential basis to promoter and nonpromoter group.d) During the year, the Company obtained the consent of ROC and Stock Exchange with respect to name change of the Company from BFL Developers Limited to BFL Asset Finvest Limited. e) The Board of Directors at its meeting held on July 04, 2017, allotted 51,00,000 equity shares on preferential basis to promoter group consequent to which the paid up share capital of the company increased from Rs. 5,10,35,000/ to Rs 10,20,35,000/. Listing approval for such was received on July 21, 2017 and trading approval on September 18, 2017.