Saraswati Commercial (India) Limited is a Non Banking Financial Company registered with Reserve Bank of India. The Company was incorporated in the year January 24, 1983 and is mainly engaged in the business of investment and trading in shares and securities & lending activities. All the prudential norms for asset classification, income recognition, provisioning etc., are applicable to NBFCs in India.
Since the asset size of the Company along with its group Companies is more than rupees 500 crores, the Company is following Prudential norms as per Non-Banking Financial Company - systemically important non deposit-taking Company (Reserve Bank) Directions, 2016.
During the year 2015, Mahotsav Trading and Finance Private Ltd ceased to be the associates of company.
In 2017, Aroni Commercials Limited got amalgamated with the Company through the Scheme of Amalgamation which became effective on 31 March, 2017. Sareshwar Trading and Finance Pvt. Ltd. and Arkaya Commercial Pvt Ltd emerged as subsidiary companies effective on the said Date. The Company allotted 390593 Equity Shares on 29th May, 2017 through the Scheme of Amalgamation to shareholders of Aroni Commercials Limited.