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Brakes Auto (India) > Company History > Auto Ancillaries > Company History of Brakes Auto (India) - BSE: 520115, NSE: N.A

Brakes Auto (India)

BSE: 520115|ISIN: INE222G01019|SECTOR: Auto Ancillaries
, :
VOLUME 17,610
Brakes Auto (India) is not listed on NSE
Company History - Brakes Auto (India)
Brakes Auto (India) Limited was incorporated on 25th April 1980 as a
 Private Limited Company to take over the proprietory business of
 Brakes Auto (India) and undertake manufacturing of automobile parts. 
 It was subsequently converted into a Public Limited Company on 27th
 November 1992 in terms of special resolution passed by the company at
 its Extra Ordinary General Meeting.
 The Company is presently engaged in the business of manufacturing of
 important Automobile spares like Brake Drums, Hubs,Clutch & Gear Box
 Housing, Wheel Cylinder, Master Cylinder and Water Pump Assembly at
 its factory situated at 68, 69-B, Industrial Area No. 1, A.B Road.
 The unit began commercial production in December 1983 with assorted
 installed capacity of 1500 MT of Brake Drums, automobile accessories
 etc.,  The Company was sanctioned a Term Loan of Rs.752 Lakhs from
 Madhya Pradesh Financial Corporaiton and woking capital of Rs.4.50
 lakhs from Canara Bank.  The unit was in operation and earned profits
 upto 1985.  The Company received appreciation from Central Railway for
 repair to one of the WDM/2 Cylinder and a total performed for the
 first time in India.
 In the end of year 1985, a fatal road accident took place in which
 the main Promoter cum Whole time Director Mr. Suresh Sharma and the
 Chief General Manager suffered severe physical injuries and set back.
  As a result of which the manufacturing activities remained closed for
 almost five year.  The Company started activities on job work basis in
 1989-90. The unit was restarted in October 1991 and after repairing
 and overhauling, the unit started full fledged production in March
 Main Objects of the Company
 The main objects of the Company as stated in the Memorandum of
 Association are as under :
 Main objects to be pursued on its incorporation are :
 1. To acquire purchase and take over the business of Brakes Auto
 (India) now carried on at 7/4 Murai Mohalla, Indore (Factory at
 Manglia Gaon, Indore) together with all the assets and liabilities of
 the proprietor of that business used in connection therewith or
 belonging thereto for consideration either by way of allotment for
 share in the Company or partly in one way and partly in other.
 2. To carry on business a manufacturers and or dealers in automobile
 parts in general, hub drums and brake parts in particular.
 3. To carry on business of spare parts and accessories of automobiles
 mopeds trucks, lorries, cars, scooters, taxis, rickshaws and all kinds
 of vehicles and to establish shops depots, sell, purchase or otherwise
 dispose ofspare parts and accessories.
 4. To carry on all or any of the business of Automobile dealers
 Petrol depots, service stations, Auto garage, Auto hirers, Taxi
 owners, flee owners, Transports, Body-builders, tyre dealers Tyre
 retrades and dealers in or manufacturers of any other articles or
 things of a character similar or analogous to the foregoing or any of
 them connected therewith.
 -Brakes India's foundry at Sholingur, near Chennai, gets CII's awards
 in safety, health and environment.
 -Brakes Auto plans a new venture in Chennai & Kolkata.
 --Registered Office of the Company has been shifted from 326 - B,
 Karim Building, M S Ali Road, Grant Road, Mumbai - 400 007 to 1011,
 Embassy Centre, 207, Nariman Point, Mumbai - 400 021
Source : Dion Global Solutions Limited
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