|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 1992.
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.