|M/s Jamshedpur Metal Treat Ltd. was incorporated as a private limited company on 30th April, 1987 by Mr Rajeev Singh Dugal & Mrs Kawaljeet Dugal, the promoters of the company, for the purpose of taking over the running business of M/s Metal Treat Company, an ancilliary of TELCO
engaged in doing pickling jobs. This was a partnership concern of Mr Rajeev Singh Dugal and Mrs Kawaljeet Dugal. The firm was taken over by the company w.e.f. 01/3/1989. At the time of the aquisition, the firm was carrying out the business of pickling jobs and the same plant and other facilities were taken over by the company. All the Assets
and Liabilities of the firm were taken at the book value and the consideration paid to the partners was to the extent of their capital contribution in the firm by way of allotment of fully paid equity shares of Rs.10/- each at par. No revaluation of the assets was carried out by the firm before its acquisition by the company. The company went for the first expansion in 1989 and was sanctioned a term loan of Rs. 50.48 lacs by Bihar State Financial Corporation. The present liability against the said loan is Rs. 9.12 lacs and there are no overdues.
As the company was able to meet the quality standard norms laid down by TELCO Ltd, it was awarded few more jobs by TELCO. After getting the assurance from TELCO for manufacturing of second speed gear, fourth speed gear, oil pump gear, spring pin, water pump, shafts, selector shafts, rocher arm shafts and ball pin etc., the management decided
to go for second expansion and were sanctioned a term loan of Rs. 89 lacs by Bihar State Credit & Investment Corporation Ltd. in March 1990. The company has been regular in repayment of term loan as well as interest and there are no overdues.
Capacity installed in terms of quantity is not ascertainable, as the company is manufacturing various components for TELCO as per their requirements.
The company was converted into Public Limited company on 21st April, 1992.
The company now plans to go for the third expansion. After this expansion, the company will be able to produce finished gears for the O.E. industry and the replacement market. Till now the company is manufacturing the gears upto the stage of shaping. After this expansion, the turnover of the company at 100% capacity utilisation will
be Rs. 1315 lacs which has been ascertained on the basis of Machine Hour Rate. Because of high quality of its products, TELCO has awarded the company self certification permission on 3rd of Sept'92 vide their letter No. GEN/QA/PY/NM/627/92 as per which the quality of the product is certified by the company itself and the same is not re-checked by TELCO which shows the confidence reposed by TELCO in the products
of the company.
MAIN OBJECTS OF THE COMPANY
The main objects of the company as set out in its Memorandum of Association are :
1. To acquire and take over as a going concern the business now being carried on under the name & style of M/s. Metal Treat Company at Industrial Area, Adityapur, Jamshedpur, and the Assets & Liabilities thereofin whole or its part.
ii. To carry on the business of pickling of metals, manufacturers of ferrous and non-ferrous metals, alloy sheets, ferro-alloys, pig-iron, wrought iron, steel converts, rolled steel makers, miners, smelters, engineers, iron & steel foundries in all or any of their respective
branches, metallurgical, prospectors, explorers, contractors, agents, and to establish workshop for the manufacture of any equipment required for any of the Industries which the company can undertake and to deal in
iii. To carry on the business of manufacturers, fabricators, processors, producers, grovers, makers, importers, exporters, distributors and concessionaires of and dealers in ammonium sulphate, nitrate (double salt) ammonium chloride, super phosphate, urea and other types of
ammonium nitrate, calcium, ammonium nitrate (nitroline stone), organic or inorganic or mixed fertilisers of synthetic or natural origin containing, nitrogen phosphorus, or other compounds, soda ash, insecticides, PVC stablishers, preservatives, pesticides and D.D.T.
explosives, arms and ammunition, detonators and safety fuses.
iv) To carry on the business of manufacturing, buying, selling, importing, exporting, distributing and servicing, repairing and dealing in all and every kind of machineries, components, parts, replacement parts, spare parts, accessories, tools and implements and fittings of all kindi inclusive of all types of axles and propeller shafts and
decorative parts required for motors, vehicles, trucks, tractors, motorlories, motorcycles, scooters, buses, omnibuses and other vehicles and products of all discription whether propelled or used by means of petrol, spirit, steam, oil, vapour, gas coal, electricity,
petroleum, and other motive or mechanical power.
- JMT Auto Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 30, 2009, inter alia, has appointed Mr. HARJINDER SINGH as the Chief Financial Officer of the Company.