The Company was originally incorporated as "AVISHKAR FINANCE COMPANY LIMITED" on 31ST December, 1984 under the Companies Act, 1956 in the State of New Delhi. The Company obtained certificate of Commencement of Business pursuant to Section 149(3) of the Companies Act, 1956 from the Registrar of Companies, NCT of Delhi and Haryana vide certificate dated 21st February, 1985. The Company came out with its initial public offering in the year 1985 for 150000 Equity Shares of Rs. 10 each and obtained listing on DSE. Avishkar Finance Company Limited was formed with an object to carry on the business of Finance and Hire Purchase and applied for obtaining registration with RBI as a Non Banking Financial Company (`NBFC`). The RBI rejected the application of Company vide its letter dated 09th January 2003. Subsequently Company changed its object by altering its Memorandum of Association and consequently changed its name from "Avishkar Finance Company Limited" to "Divinus fabrics Limited".