Introduction to Indian Infotech and Software Ltd (IISL)
Indian Infotech and Software Ltd (IISL) was incorporated in 1982. It provides loans and engages in trading shares.
Business Overview
IISL provides business loans to individuals and firms. It is a Non-Systemically Important Non-Deposit Taking Non-Banking Financial Company.
Registration with RBI
IISL is registered with the Reserve Bank of India (RBI) as a loan and investment company. However, it has not complied with all applicable laws, rules, circulars, and regulations, including those in the Master Direction for loan and investment companies.
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Borrowings & Related Party Transaction Limits
In FY23, IISL approved increasing its limits of borrowing to Rs. 500 crore and related party transaction limits to Rs. 250 crore.
Rights Issue
On 12th January 2023, IISL approved a rights issue of 26,14,53,270 equity shares to existing shareholders.
Revenue Breakup – FY23
In FY23, IISL’s revenue breakup was as follows:
- Interest Income: ~21%
- Sale of Shares: ~79%
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Litigations
a) The CRB Trustee Ltd filed a case in the High Court Delhi against IISL for contempt of court order for not listing shares issued to CRB Trustee Limited. However, the company has received trading permissions from BSE Limited for listing shares. b) An adjudicating order was passed on 30th September 2022, imposing a penalty of Rs. 5 lakh on the company and Rs. 7 lakh on its previous director. The penalty was paid by both.
Change of Key Management Personnel (KMP)
Mr. Shyama Charan Kumar resigned as Managing Director on 8th June 2022, and was replaced by Mr. Manish Kumar Badola.
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Indinfo Share Price Target 2022
The share price target for Indian Infotech and Software Ltd in 2022 is subject to market conditions and various factors affecting the company’s performance. Analysts may provide price targets based on financial projections and market trends.
Indinfo share price target 2022,2023,2024,2025,2026,2027,2028,2029,2030
| indinfo share price target | share price target |
| indinfo share price target 2022 | ₹1.00 |
| indinfo share price target 2024 | ₹1.5 |
| indinfo share price target 2025 | ₹2.00 |
| indinfo share price target 2026 | ₹2.35 |
| indinfo share price target 2027 | ₹4.5 |
| indinfo share price target 2028 | ₹5.65 |
| indinfo share price target 2029 | ₹8.05 |
Conclusion
Indian Infotech and Software Ltd (IISL) is a company with a long-standing history in providing business loans and trading shares. Despite facing litigations and changes in key management personnel, the company continues to operate in compliance with regulatory requirements.
FAQs
What is Indian Infotech and Software Ltd (IISL)? Indian Infotech and Software Ltd (IISL) is a company incorporated in 1982 that provides loans and trades shares.
Is IISL compliant with RBI regulations? IISL is registered with the RBI as a loan and investment company. However, it has not complied with all applicable laws and regulations.
What was the revenue breakup of IISL in FY23? In FY23, IISL’s revenue breakup was approximately 21% from interest income and 79% from the sale of shares.
Has IISL faced any litigations? Yes, IISL has faced litigations, including a case filed by CRB Trustee Ltd for contempt of court order.
Who replaced Mr. Shyama Charan Kumar as Managing Director of IISL? Mr. Manish Kumar Badola replaced Mr. Shyama Charan Kumar as Managing Director of IISL on 8th June 2022.
Note-All posts are for Educational purposes.This is not any Investment Advisory.
