Sterling Holiday Financial Services was incorporated on May 8, 1991 and is engaged in the business activities of forex, tourism, and corporate services. Earlier known as Sterling Holiday Resorts Finance, it acquired its present name on July 14, 1993. The company is part of the Sterling Holiday group, pioneers of the time-sharing holiday concept in India, which also includes Sterling Holiday Resorts (India).
The foreign exchange division functions in the overseas trade finance sector and extends services in Delhi, Kolkata, Mumbai, Nagpur, Andhra Pradesh and other areas. Its association with major public sector units engaged in international commodity trading results helps in attracting more clients. Non banking finance operations have been discontinued and focus is on recovery of dues and repayment of deposits. In the tourism sector, group tours and corporate get-togethers are organized for known corporates by using Happy Vistas Timeshare units from Sterling Holiday Resorts (India). This is also being used to settle dues owed to banks and other institutions.
Tie-ups with important nationalized banks for loan syndication and debt settlement help provide services to major corporate clients in India. The company has been retained as authorized agent by Indian Bank, State Bank of India, Federal Bank, and Bank of India for recovery of dues from borrowers. It has been appointed as a direct selling agent by Bank of Bahrain & Kuwait BSC for Chennai, Cochin and Coimbatore. Sterling Holiday Financial Services has been suspended from the BSE for over three years on account of non-compliance with listing agreement clauses. Sterling Securities & Futures is a subsidiary of the company and is a member of the Bangalore Stock Exchange.
Business areas of the company:
The company is engaged in the business activities of forex, tourism, and corporate services.
• Sterling Securities & Futures