The Motor & General Finance Limited (MGF) the flagship company of MGF Group was incorporated in 1930. It is one of the oldest finance companies of India. The Company was managed by the Board of Directors under the astute leadership of Shri Ved Prakash Gupta, the founder Chairman of the Company. His office functioning made the MGF to become a leading Non Banking Finance Company in the country. He was doyen of automobiles financing in India particularly by the hire purchase mode.
As an active member of Dhotre and Shah committees constituted by Reserve Bank of India, it was his vast experience and farsightedness which helped in laying the rules and regulations of NBFCs in India. He has remianed President & Chairman of Hire Purchase and Leasing Associations for quite number of years and had contributed significantly to the growth of the said associations. He had concviction that even the common man can become self reliant and his this vision made thousand of families directly or indirectly benefit themselves.
His was selfless and philanthropic contributions to various educational, social and religious institutions, After serving 75 years, he left for his heavenly abode on 20th August, 2005.