Our Company was incorporated as Radio Lamp Works Limited under the Indian Companies Act, 1913 as a public company limited by shares, pursuant to a certificate of incorporation dated July 14, 1938. Subsequently the name of our Company was changed to Bajaj Electricals Limited, pursuant to a fresh certificate of incorporation dated October 1, 1960. In 1964, Matchwell Electricals (India) Limited, (Matchwell), a manufacturer of electric fans became a subsidiary of our Company and subsequently, with effect from July 1, 1984, the business and undertaking of Matchwell was amalgamated with our Company. In the financial year 1993-1994, our Company entered into a joint venture with Black and Decker Corporation, United States, for the manufacture and marketing of power tools, household appliances, and related accessories, through a separate company named Black and Decker Bajaj Private Limited, (Black and Decker Bajaj). During the financial year 1999-2000 Black and Decker Bajaj became a 100 Percent subsidiary of our Company upon our Company acquiring a further 50 Percent of the shareholding thereof from Black and Decker Corporation, pursuant to which Black and Decker Bajaj was renamed as Bajaj Ventures Limited. However, in the financial year 2002-2003, our Company divested 50 Percent of its shareholding in Bajaj Ventures Limited and Bajaj Ventures Limited ceased to be a subsidiary of our Company
