1985 - The Company was Incorporated as a private limited company on
February, and then converted in public limited company on
October. The Company was promoted by Ramesh Suri and Jayant
Nanda along with their associates. The Company manufacture
automotive air-conditioning systems.
- The company entered into a technical collaboration agreement
Nippondenso Co. Ltd., Japan (Nippondenso) for technical
information for implementation of the project and manufacture
automotive air-conditioning systems including swash-plate
compressor, clutches and other associated components for cars
light commercial vehicles in addition to providing advice in
regard to the design, manufacturing, production problems and
train technical personnel of the company at its factories.
- The company undertook to set up a project for the manufacture
50,000 units per annum of automotive air-conditioning systems
automobiles in a phased manner.
- The Company embarked upon a scheme to procure sub-assemblies
components indigenously and to undertake the in-house
of critical components in a phased manner.
- The Company also started supply of air-conditioning systems
Maruti Gypsy and the same was being well received. The
also developed air-conditioning systems for Premier 118 NE
- One prototype kit to each of the manufacture, i.e. Premier
Automobiles Ltd., and Tata Engineering and Locomotive Co.
- 15,00,000 shares allotted at par as follows: (i) 11,10,000
to promoters, directors, etc.; (ii) 1,95,000 shares to
Nippondenso Co., Japan and (iii) 1,95,000 shares in Suzuki
1988 - 12,75,000 shares issued at par of which 1,87,500 shares
for allotment on preferential basis to employees (including
Indian working directors)/workers (only 4,700 shares taken
The balance of 10,87,500 shares, together with the
1,82,800 shares of the employees' quota, offered to the public
1991 - The Company developed and commenced supply of
systems to Telco for their Tata Sierra and Tata Estate. Also
air-conditioning systems were deveoped for, Premier 118 NE
efforts were on for AC systems for MULS new model YE-2 in
consultation with nippondenso Co. Ltd., Japan.
1995 - The Company increased the installed capacity of AC systems to
- 22,48,080 shares issued at a prem. of Rs 23 per share to the
shareholders on right basis in prop. 3:5, 1,920 shares kept
1996 - The Company took up production of AC systems, based on HFC
refrigerant by modification of existing production lines for
manufacture of components and sub assembles compatible to HFC
134a an environment friendly refrigerant, the first in India.
- The Company has splits its face value from Rs10/- to Rs2/-.
- Mr. S Nakanishi bas been appointed as the Nominee Director.
- Yasushi Nei has been appointed as Director.
- Mr. Yoshitaka Kajita has been appointed as Alternate Director.
- The Company and Denso Corporation Japan, have agreed to form a
Joint Venture Company in India for designing automobile air
conditioning systems and other devices.
- Mr. Y Kajita, has been appointed as Alternate Director.