Jullundur Motor Agency (Delhi) Limited is a public limited company incorporated in India in the year 7th September 1949. The Company is engaged in business of distribution of auto spare parts and petroleum products primarily in different regions of India through network of branches since 1927. It deals in products such as brakes, bearings, clutches, cooling system, engine components, suspension, power steering, oil & lubricants, filters etc. Most of Company`s suppliers are original equipment manufacturers (OEM`s) to vehicle manufacturers. Most of Company`s suppliers are original equipment manufacturers (OEM`s) to vehicle manufacturers. As at 31st March 2019, the Company has one subsidiary, viz. JMA Rane Marketing Limited and two associate companies, namely Jullundur Auto Sales Corporation Limited and ACL Components Limited.
Pursuant to Section 74 of Companies Act, 2013 and rules made there under, the Company had made repayment of its entire deposits amounting to Rs 9,23,54,000/- standing as on 1 April 2014.
During the year 2015-16, the Company has spent Rs 1,19,93,314/- only as capital expenditure towards purchase of building, which is being used as warehouse to store inventories. There has been no negative impact on liquidity of the Company.
During the year 2016-17, the Company has spent Rs. 68,95,620/- only as capital expenditure towards purchase of building, which is being used as warehouse to store inventories. There has been no negative impact on liquidity of the Company.
During the year 2019, the Company acquired the entire stake of 3,60,003 equity shares representing 48.97% held by Rane Holdings Limited share in paid-up capital of JMA Rane Marketing Limited by way of entering into Joint Venture Termination Agreement. Post acquisition, the Company holds 97.94% stake in the capital of JMA Rane Marketing Limited.
Pursuant to notification of SEBI bearing no SEBI/LED-NRO/GN/2018/10 dated 09th May 2018, JMA Rane Marketing Limited has been considered and defined as Material Subsidiary w.e.f. 01st April, 2019.
Shareholders of the Company in its Extra-ordinary General Meeting held on 25th April, 2019 resolved that equity shares of face value Rs.10/- each be sub-divided into 5 equity shares of face value Rs.2/- each, thus increasing the number of equity shares from 59,63,610 equity shares of face value Rs.10/- each to 2,98,18,050 equity shares of Rs 2/- each, fully paid-up, not resulting any change in issued, subscribed and paid-up capital of the Company. Record Date for the purpose of sub-division was fixed as 15th May, 2019.