Pneumatic Holdings Limited was originally incorporated as a wholly owned subsidiary of Kirloskar Brothers Investments Limited (KBIL)on 16 September 2014 as an InvestmentCompany with the purpose of transfer and vesting of certain investments and vehicle leasing business of KBIL on going concern basis,Pursuant to the CompositeScheme of Arrangement and Amalgamation between the Company, KBIL and Kirloskar Oil Engines Limited (Composite Scheme). The Composite Scheme was approved by the Hon’ble High Court of Judicature at Bombay vide its order dated 30 April 2015.
As per the terms of the Composite Scheme, every shareholder of KBIL as on Record Date i.e. 11 July 2015, holding 1 (one) Equity Shares in KBIL was issued 1 (one) Equity Share of Rs.10/- each of PHL as fully paid up.
Accordingly, PHL issued and allotted 52,88,718 Equity Shares of Rs.10/- each. As a part of the Composite Scheme, the Company received listing and trading permission from BSE Limited and National Stock Exchange of India Limited on 15 September 2015 and trading commenced from 18 September 2015.
The main objects of PHL are as follows:
To carry on the business of an InvestmentCompanyto buy, sell, invest, acquire by gift, transfer, allotment and hold in the name of the Company or its nominees, shares, stocks, papers, debenture stocks, bonds, commercial papers, obligations and securities of any kind, issued and / or guaranteed by any of the Kirloskar Group companies and or their affiliates and to buy, sell, acquire other security investments of Kirloskar Brothers Investments Limited, under any Scheme of Arrangement / merger / de-merger or under any court order or by way of transfer, allotment.
To carry on the business of owning, furnishing, letting, leasing executive cabins, conferences facilities and rendering various services including computer services, telex services, telephone services, executive centers, secretarial services, travel services and other facilities to executives and business of leasing, hire purchase, factoring, bill discounting, supplier credit, import and export finance, venture capital, seed capital and generally financing of all industrial, commercial and domestic ventures, enterprises and items such as plant, machinery, vehicles, ships, aircrafts, office equipment’s and machines, gas cylinders, domestic equipment, refrigerators, air conditioners, television, radio and music equipment, furniture and fixtures, equipment for the supply, storage, distribution, treatment and use of water, petroleum products, gases, chemicals, effluents and other liquids and solids and for this purpose to buy, take on lease or otherwise acquire and hold for improvement, investment, development or trade, and sell, lease or otherwise impose of, however all or any of the aforesaid things.
Pursuant to the Scheme of Arrangement and Amalgamation between Kirloskar RoadRailer Limited, Pneumatic Holdings Limited (the Company) and Kirloskar Pneumatic Company Limited and their respective shareholders, sanctioned by the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench vide its Order dated 19th April 2017, the Company is dissolved on the Effective Date i.e. 28th April 2017.
For further correspondence kindly contact:
Kirloskar Pneumatic Company Limited
Hadapsar Industrial Estate,
Pune 411 013
Tel. No. (020) 2672 7000
Fax. No. (020) 2687 0297
Email : email@example.com