Two men,
one address.
A lending house is only as good as the judgement of the people making the calls. These are the people who have made them.
Goutam Chand Nahar
Founder and Chairman
Until 2018
He began lending from Sowcarpet before there was a company to lend through. The security was not a document. It was that people knew who he was and where to find him, which in this quarter has always counted for more than a file.
He formalised the business as Heeraa Financial Services Limited on 24 April 1995, and named it after Heeraa Mansion, the building the family owns and still works from. The name came off the building, not the other way round.
He chose automobile finance to start with because it reached the most people. From there the business widened deliberately, one line at a time, into property, corporate lending, gold, film and the rest. He was Chairman until his death in 2018.
Praveen Chand Nahar
Whole-Time Director
DIN 00917582
His son leads the company now, from the same building and on the same principle: the person deciding is the person carrying the risk, and is in the room.
The book he runs today spans ten lines of lending, from a pledge of ornaments to an acquisition facility. The company holds ₹5 crore of paid-up capital, carries no charge registered against its assets, and is registered with the Reserve Bank of India as a Base Layer non-banking financial company.
What this house holds to
Stated by the company, in its own words. Not attributed to anyone, because nobody wrote them down.
Lend to the person, not the file
A ratio describes a business on one day. Thirty-one years on one street describes how it behaves when a year goes badly.
Say no quickly
A borrower kept waiting for a refusal has lost something we cannot give back. If the answer is no, it should arrive early and with a reason.
Explain the number
Anyone who cannot follow how a figure was reached should not be asked to sign for it. The working gets shown before the amount is quoted.
Difficulty is a conversation
An instalment discussed is a scheduling problem. An instalment avoided becomes a recovery problem, and that is worse for both sides.