Mangal Credit & Fincorp Ltd, previously known as Tak Machinery and Leasing Ltd, was established in December 1961. Operating from Mumbai, Maharashtra, it has evolved into a reputable non-banking financial company, providing a variety of loans to diverse clientele.
In 1962-63, the company initiated a decade-long technical collaboration with Fellows Brothers, Ltd. from England for the production of electric hoists and chain pulley blocks. Similar agreements were also made with Naylor Brothers, Ltd. and Martonair, Ltd. of the U.K. for manufacturing conveying equipment and air hoists respectively.
Subsequent to this, in 1965-66, the company entered into a technical collaboration with Ursvikens Nekanisks Verkstads AB of Sweden for press brakes production and with Nuquip, Ltd. from the U.K. for manufacturing airline equipment.
The year 1973-74 saw the approval of a collaboration agreement with Fellows Stringer, Ltd. of England for flameproof electric hoists. To accommodate expansion needs, a new plant was established in Vatwa near Ahmedabad at a cost of Rs. 40 lakhs, completed by 1974-75.
In 2015-16, the company issued 70,44,075 fully paid-up equity shares through a bonus issue and 73,61,096 equity shares to promoters and non-promoters through preferential allotment, generating proceeds utilized for debt repayment and business expansion.
Furthermore, during the fiscal year 2018-19, Mangal Buildhome Private Limited and Mangal Global Marbles Private Limited ceased to be subsidiaries of the company. Similarly, in 2019-20, Mangal Compusolution Private Limited, Mangal Mines and Minerals Private Limited, Satco Capital Markets Limited, and Indtrans Container Lines Private Limited also ceased to be the company's subsidiaries.
In 1962-63, the company initiated a decade-long technical collaboration with Fellows Brothers, Ltd. from England for the production of electric hoists and chain pulley blocks. Similar agreements were also made with Naylor Brothers, Ltd. and Martonair, Ltd. of the U.K. for manufacturing conveying equipment and air hoists respectively.
Subsequent to this, in 1965-66, the company entered into a technical collaboration with Ursvikens Nekanisks Verkstads AB of Sweden for press brakes production and with Nuquip, Ltd. from the U.K. for manufacturing airline equipment.
The year 1973-74 saw the approval of a collaboration agreement with Fellows Stringer, Ltd. of England for flameproof electric hoists. To accommodate expansion needs, a new plant was established in Vatwa near Ahmedabad at a cost of Rs. 40 lakhs, completed by 1974-75.
In 2015-16, the company issued 70,44,075 fully paid-up equity shares through a bonus issue and 73,61,096 equity shares to promoters and non-promoters through preferential allotment, generating proceeds utilized for debt repayment and business expansion.
Furthermore, during the fiscal year 2018-19, Mangal Buildhome Private Limited and Mangal Global Marbles Private Limited ceased to be subsidiaries of the company. Similarly, in 2019-20, Mangal Compusolution Private Limited, Mangal Mines and Minerals Private Limited, Satco Capital Markets Limited, and Indtrans Container Lines Private Limited also ceased to be the company's subsidiaries.
