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History of
Rajvebh Electronics Ltd.
M/S Rajvebh Electronics Limited formerly M/S Apel Pran
Electronics Limited was registered as a Public Limited
Company vide Certificate of Incorporation No.6719 of 86-87
with the Registrar of Companies, Andhra Pradesh with the
object of taking up project for manufacture of electronic
cordless telephones, jointly in collaboration with Andhra
Pradesh Electronic Development Corporation Limited. APEDC
obtained the Letter of Intent from Govt. of India and
entered into a MOU on 29.03.86 with NRI for implementing
the Letter of Intent obtained by them who in turn
incorporated a new Comp. on 25.08.86 in the name of M/s.
Apel Pran Electronics Limited for purpose. As the
Copromoters of project couldn't tie up foreign
technical collaboration to implement the project, APEDC
transferred the management & control of Comp. in
favor of Dr.R.P.Atluri, another NRI. Dr.Atluri and
associates identified Oriental Precision Comp. of South
Korea for technical collaboration & obtained other
necessary government approvals. However, Dr.Atluri and
associates couldn't make any progress in implementing the
project due to his preoccupations at USA. At this stage
APEDC in concurrence with Dr.Atluri identified Mr.Bhaskar
Raju for implementation of project & transferred the
management & control of Comp. in his favour in
June'92. Subsequently Mr.N.Bhaskar Raju visited the
foreign collaborator at Korea & revived the contacts and
negotiated for updated technology. The Project is now
poised for accelerated implementation with an assurance of
equity participation by APEDC. The name of Comp. was
changed to M/S Rajvebh Electronics Limited during
September'92. All the legal formalities pertaining to the
change of management has been completed. APEDC, who is one
of the major shareholder of Comp. & who has been
associated with the project since its inception has
approved the change in management In their Board meeting
held on 03/08/92. Subsequently, a change of management
agreement was signed on 29/08/92 between all the
parties concerned. The appointment of Mr.Bhaskar Raju as
the Managing Director of Comp. has been approved by
the Central Government U/s 269, 198[4s]/ 309[3s] & 637 AA
of the Companies Act 1956 vide their letter no.
4/544/92-CL.IX dated 15th March'93. Subsequently, fresh
copies of MOU were signed with the technical collaborators
and fresh applications were made to APIDC for project
appraisal & for extension of term loan for the
project. The tie up with technical collaborators/ bankers
etc have been entered into subsequent to the change in
management.
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