|The Company was incorporated on 10th June, 1976 as a private limited company having registered office in the State of Maharashtra, Bombay, under the name and style Aggrawal Electronics Private Limited. The Company was converted into public limited on 9th September, 1992 by
changing its name to Aggrawal Electronics Limited. The name of the Company was then changed to Insutech India Limited on 29th December,1992
The Company has its registered office at Plot no. B-42, Sinnar Taluka Co-op Ind. Est. Ltd., Sinnar-Sirdi Road, Sinnar. Nasik- 422 103. The Corporate office ofthe Company is at 207, Prestige Point. Nasik Road.
The Objects, for which the Company is established, as set out in the Memorandum of Association arc as under :
1. To carry on the business as manufacturers, dealers, executors, assemblers, repairens, importers and exporters of electronic components, such as magnetic tapes, semi-conductor device, electric tubes, passive components, electro mechanical components, industrial electronic
system, light telemetry and telecontrol super-visory system, data logging system, industrial drives, electronic process control instruments, control components, process heating and melting equipments, electronics data processing systems like electronic calculators, central processing units and peripherals, electronic instruments like
analytical, nuclear, geoscientific and microwave instruments.
2. To carry on the business as manufacturers, dealers, traders, stockists, distributors, agents, executors, importers, exporters and otherwise deal in electronics, electrical insulating materials such as fibre glass, cables, tapes, braided, cotton tapes and other electrical
PRESENT ACTIVITIES AND PAST PERFORMANCE
Since incorporation, the company has been actively involved in trading of insulating materials, metals and other tradable items.
The Company has started manufacturing of insulating materials from April, 1993 on a low scale and balance demands are met by procuring from the open market.
Presently, the Company has been engaged in the manufacturing and marketing of electrical insulating material like Unvarnished & Varnished Fibre Glass Sleeves, Tapes Cloths and Empire Tapes & Cloths and Textile. The Company is already registered as a SSI unit with Directorate of Industries, Nasik. The product of the Company are marketed under the brand name of 'INSUTECH' which has established its name among its customers.
The present manufacturing facilities of the Company is located at Plot no, B-42. Sinnar Taluka Co-op Ind. Estate Ltd,. Sinnar-Sirdi Road, Sinnar, Nasik-422 103, Maharashtra, a notified growth center plus 'C' category backward area, eligible for various incentive from Government of Maharashtra including cash subsidy and sales tax relief, The site is an industrial land in the town Sinnar in Nasik taluka of Maharashtra state well connected with the highway.
As mentioned earlier in this prospectus the company was involved in trading of insulating materials, metals and other tradable items. Though the company's sales was high, the profitability was low. As the promoters have gained vast experience in these activities, the management has set up manufacturing facilities on low scale basis. The
Company will be benefitted of higher profits in future due to high value additions, better quality and optimum product mix. The Company will concentrate on manufacturing as the demand for insulating materials is good and increasing.
SUBSIDIARIES OF THE COMPANY
The Company does not have any subsidiary companies within the meaning of Section 4 of the Companies Act, 1956.
- Company's Managing Director (MD) Mr. Devendra Tibrewala has expired on November 24, 2004.