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Empower India Ltd. Company History and Annual Growth Details

1981 - The company was incorporated on 20th February as Mahajan Trading Company and promoted by Ushaben M Doshi, Nehal M Doshi, Hemal P Udani and Maganlal H Doshi.

- The company received the certificate of commencement of business on 25th February.

1992 - Name of the company was changed from Mahajan Trading Company to Harijay Industries Ltd. on 20th August.

2002 - Dewang Master had entered into a memorandum of understanding with the promoters of the company to acquire 34,000 fully paid shares of Rs 10 each representing 68% of the company's voting capital at Rs 10 per share and payable by way of cheque.

- Board of the company had approved on 10th December to issue and allot bonus shares to the members of the company in proportion of nine bonus shares for every one equity share held, by capitalizing a sum of Rs 45 lakh out of general reserve.

2003 - Name of the company was changed from Harijay Industries Ltd. to Empower Industries India Ltd. on 5th September.

2005 - Board of directors of the company had decided to offer 2 equity shares fro every 5 equity shares of Re 1 each held in the company at a premium of Rs 1.25 per share to the existing shareholders of the company on the right basis.

2007 - The company had formed a joint venture with US based SPS Inc to launch power electronics products and a technical and 100% marketing arrangement.

- Board of directors of the company had approved to increase the authorized share capital of the company to raise funds for further expansion, diversification and acquisition plans in diverse fields.

- The company has decided to raise funds of up to USD 122 million for the expansion, diversification and acquisition plans through FCD, FCCB, preferential, GDR's and rights offer.

- Books of the company were remained closed from 21st September to 25th September due to the annual general meeting of the company.

- Members at the 25th annual general meeting of the company had adopted the annual accounts and the annual reports of the company for the year ended 31st March.

- They also authorized the board of directors of the company to borrow up to Rs 50 crore and to mortgage the movable and immovable property of the company

- Mr. Jilani Sheikh was re-appointed as a director of the company.

- Mr. Rajgopalan S Iyenger was appointed as a director of the company.
 
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