Salem Erode Investments Ltd Company Summary

Salem Erode Investments Ltd Summary

Salem Erode Investments Limited was originally incorporated as Salem Erode Electricity Distribution Limited on May 16, 1931 as a Public Limited Company in Kolkata under the Registrar of Companies, West Bengal. Subsequently, the name of the Company was changed to Salem Erode Tea & Investment Co. Limited in 1975 and to Salem Erode Investment Limited in 1992. The fresh Certificate of Incorporation was issued dated 28 November, 1975 and 24 July 1992 respectively. The Company got listed on Madras Stock Exchange Limited. The Company is carrying on its business as a Non Banking Financial Company. It deals in shares, stocks, debentures and securities issued by Government of India and Companies incorporated in India. The Company also lends money with or without security. The Company incorporated to acquire tea gardens, grow, raise, tend and cultivate tea, coffee, cinchona, rubber and carry on the business of tea planters in all its branches, to carry on and work the business of cultivators, winners and buyers of every kind of vegetable, other produce of the soil, to prepare manufacture and render marketable any such produce, and to sell, dispose of and deal in any such produce, either in its prepared, manufactured or raw state, and either by wholesale or retail.The Company was acquired by ICL Fincorp Limited on 17 February, 2020. The Company opened 8 new branches thus summing up to a total of 12 branches in South India in 2022. Further, it opened 4 more branches in Kanyakumari district of Tamil Nadu in 2023.