Muthoot Mercantile Limited is the flagship company of the Muthoot Ninan Group. MML was incorporated as a Public Limited Company on 03-03-1997 under certificate of incorporation of Registrar of Companies Kerala. It was registered as an NBFC under certificate of registration by the Reserve Bank of India.
The company is promoted by Sri. M. Mathew, son of late Shri. Muthoot M. Ninan who established the Muthoot Group in the year 1939. He is a Mechanical Engineering graduate. He is the Chairman of the Company and has a working experience of more than 40 years in the Banking and chitty field.
Shri. Richi Mathew, his son, is the Managing Director of the Company. He is a Computer Engineering Graduate with over a decade of experience in banking.
The company has a turn over of more than Rs. 2000 crores with several branches all over Kerala state and also in South Tamil Nadu.
The Muthoot Ninan Group also hosts Muthoot Mercantile Syndicate Limited, a Nidhi Company, declared and notified by the Ministry of Corporate Affairs, Government of India, New Delhi. This Nidhi Company has more than 35,000 members. Another company Muthoot Credit and Investment Limited is a potential Nidhi Company Headquartered at Kozhikode. This company is awaiting its Declarations and Notifications as a full-fledged Nidhi Company by the Ministry of Corporate Affairs, Government of India, New Delhi. The group has also forayed into the Real Estate Sector and has started a real estate firm.
At present, the Company is having several branches spread all over Kerala and in Kanyakumari district of Tamil Nadu. We propose to open large numbers of branches all over India in the near future. We have a solid presence in almost all the districts in Kerala.
The Company's financial position is very sound and healthy. Our primary business is granting loan against the security of gold only. To meet the requirements of the gold loan, we are issuing non-convertible secured redeemable debentures. The funds realized through debentures are fully utilized for the grant of loan against security of gold. The fund in no way is utilized otherwise. Hence the investments with us are 100% secured.