SFIL was duly incorporated on August 22, 1991 as a private limited company under the name Garuda Clays Private Limited (GCPL) with Registrar of Companies NCT of Delhi & Haryana. GCPL was converted into public limited company having duly passed the necessary Special Resolution on February 14, 1994 in terms of Section 31/21 read with Section 44 of the Companies Act, 1956. On conversion of company from private limited to public limited, the name of the company was changed from Garuda Clays Private Limited to Garuda Clays Limited and a fresh certificate of incorporation in this regard was issued by the Registrar of Companies NCT of Delhi & Haryana on May 2, 1994. Later on Ramanuj Leasing Limited registered as Non Banking Finance Company (NBFC) with Reserve Bank of India, New Delhi and engaged in business of leasing & finance activities was amalgamated / merged with Garuda Clays Limited pursuant to the order of the Hon’ble High Court of Delhi dated November 1, 1999. Thereafter the name of the company was changed from Garuda Clays Limited to Sainik Finance & Industries Limited and a fresh certificate of incorporation was issued by the Registrar of Companies, NCT of Delhi & Haryana on April 6, 2000. Since then the Company is working under the name & style of Sainik Finance & Industries Limited.