V B Desai Financial Services (VBDFS) promoted by V B Desai, I R Shroff and M Dhupelia, was incorporated in Sep.'85. The company is engaged in funding and non-funding activities. It offers a wide range of financial services under one roof which includes merchant banking services, corporate financing and debt placement services. It is also engaged in leasing, hire purchase, investment and consultancy. _x000D_ _x000D_ During 1993-94, VBDFS became a member of the NSE and the OTCEI and has started trading on these exchanges. The company came out with a rights issue at a premium of Rs 15 in Aug.'94. With the issue of equity shares on a rights basis and a preferential basis and on account of conversion of non-convertible debentures into equity shares, the company hopes to achieve new heights in profitability in the coming years._x000D_