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History of Dynamic Microsteppers Ltd.

History : Dynamic Microsteppers limited was originally incorporated on 18th May 1985 as Dynamic Microsteppers Pvt limited It took over the operations of partnership concern of same promoters called Microsteppers Manufacturing Comp. as a going concern vide Deed of Assignment dated 2nd September 1985. According to the legal Advisors of company, M/s Mehta and Girdharilal, by virtue of Clause 6 and 38 [as detailed below in Objects of Companys] of Memorandum and Articles of Association of company, the Comp. was entitled to enter into the Deed of Assignment by virtue of which it has taken over the business of M/s Microsteppers Manufacturing Comp. as a going concern along with its goodwill, the contractual tenency in respect of factory of said partnership firm, together with all the assets, quota rights, licences, plant & machinery, etc. & all the liabilities of said firm as on 31st August, 1985 for a net consideration price of Rs. 15,99,699.90. Subsequently, the Comp. has been converted into a Limited Comp. in terms of special resolution passed on 4th January 1995 & a fresh Certificate of Incorporation was obtained from the Registrar of Companies on 28th February 1995.

Business : The Comp. currently has two factories, one located at MIDC, Plot No. W-6[As]. Village Lading, Dist. Dhule & the other at S.P. Industrial Estate, Plot No. 13, S. No.37-A. Khadda Jin, Parola Road. Dhule, Maharashtra. The products currently manufactured are stepper motors with electronic drive control and reduction gear mechanism for Quartz Timing Movements model Cal 331 used in Wall Clocks, Table Clocks & Alarm Time pieces. These stepper motors are sold to group companies which manufacture QTM, clocks & Alarm Time pieces. They are acknowledged as suppliers of quality Quartz Horological products. These products are marketed by group companies under the brand name 'COPWUD', which enjoy a tremendous goodwill & reputation in the market place & command a premium in the face of stiff competition. The Comp. sold 14.61 lacs nos in the year 1993-94 valuing Rs. 416.75 lacs.