About
Introduction
In the Nadar Mahajana Sangam meeting held at Sivakasi during 2010, it is resolved to start a Finance company under the Chairmanship of Sri.A.P.Selvarajan. To comply the same Pandianad Finance Company Limited (PFC) was incorporated on 21.02.2011 with registered Office at No.4, New Mahalipatti Road, Madurai 625 001. Originally PFC was incorporated as a public limited company registered under companies act, 1956 of India. Subsequently, during 2023 the company was converted into a private limited company and the name was changed as Pandinadu Finance Company Private Limited (PFC)
After getting necessary approvals from Reserve Bank of India (RBI) on 03.05.2016, the business was commenced on 09.05.2016 at the ground floor of the registered office. The main object of the company is to carry on the business of money lending and financing.
As per RBI, PFC is a Non-Banking Finance Company (Non-deposit taking) (NBFC-ND) and is controlled through Master Direction – Non-Banking Financial Company –Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 and is subject to time to time changes made therein.
Initially the authorized share capital of PFC was Rs. 5 crore and the same was increased to Rs.10 crores during the year 2020. The second branch of PFC was opened at Sivakasi on 30.04.2017 at Sivan koil street.
The third branch was opened at Thoothukudi on 22nd May 2024. Further another branch at Sellur Madurai is to be opened shortly.