Karnavati Finance was incorporated as Karnavati Finance and leasing Limited at Mumbai on December 05, 1984 under the Companies Act, 1956 with the Registrar of Companies, Maharashtra. On December 11, 1989 the name of the company was changed to Karnavati Finance Limited. Later in the year 2001-2002 the company was taken over by present promoter Raman Morzaria by acquiring 2,51,000 equity share at Rs 10.50 from Rajnikant Worah and his associate via share purchase agreement dated May 10, 2001. The company is a NBFC registered with RBI to carry on NBFC Activities under Section 45IA of the Reserve Bank of India Act, 1934 bearing Certificate no. 13.00064 dated February 24, 1998.

Product and Services

The company is a Non Deposit taking Loan Company (NBFC-ND-LC) engaged primarily in the business of providing loans as per the requirement of customers and they are both secured and unsecured finance. It is mainly involved in business loan and personal loan. The company’s products are typically directed at Individuals and small and medium size entities. The company’s loan products are customized to the requirements of its borrowers, broadly classified as:

• Business Loan
• Personal finance

Major Events

• 1983-1984: Incorporation of the company as Karnavati Finance & Leasing Limited
• 1985-1986: Certificate of commencement of Business
• 1989-1990: The Name of the company change from Karnavati Finance & Leasing Limited to Karnavati Finance Limited
• 1997-1998: RBI approval to carry on NBFC Activities
• 2001-2002: Change In Management - Company Acquired By Mr. Raman Morzaria, existing Promoter