WHEREAS the company has been engaged in business of heavy engineering consisting of a Automobiles and Heavy Multi-utility Vehicle since July, 1965, and have so far concentrated mainly on the western region.
AND WHEREAS the company has now assessed that substantial demand of the company’s products comes mainly from the south and central region of the country.
AND WHEREAS there is no sophisticated unit producing such products in any region which may cater to the needs of the south and central region of the country.
AND WHEREAS the contemplated region is in close proximity to the sources of raw materials and cheap labour from the eastern and the southern regions.
AND WHEREAS the cost of freight on procurement of raw materials and cost of freight on distribution of the finished products to such south and central market areas will be most economical, compared to cost of distribution from the existing manufacturing unit of the company at Noida.
AND WHEREAS expert technical consultant has completely studied the technical and feasibility of setting up a new factory at such site as per the report of such consultant which is hereby tables and it appears from such report that the recommendations made therein are quite logical and economical.
AND WHEREAS the company on application under the Industries (Development and Regulation) Act, 1951, have obtained necessary licence for the establishment of a factory at………… (near Gurgaon) with a capacity of 10,000 vehicles per year, NOW THEREFORE, IT IS-
"RESOLVED that the company may take immediate action for the establishment of manufacturing unit at………….(near Gurgaon), and that the project division of the company be advised to complete all technical and mechanical drawings forthwith and place orders for the setting up of the manufacturing facilities as licensed for a capital outlay of Rs. 200 lacs and to do all such things as may be deemed necessary nad incidental to the establishment of a manufacturing unit in the village……….. in the vicinity of the Gurgaon city in the State of Haryana and for the purpose of setting up the factory, the Managing Director of the company be and is hereby authorized and directed to initiate immediately negotiation to buy a suitable plot of land near about the said location, and submit his recommendation to the Board of directors for the latter to consider the suitability of the proposed purchase of land, terms and conditions of such purchase and the consideration of such plot of land.
RESOLVEDfurther that the company prefer a land on outright purchase basis as, lease-hold property will not be suitable, for the company.
RESOLVED further that the Managing Director and Shri. MNO of the company be entrusted with the overall responsibility and authority of implementation and completion of the project preferably within the amount budgeted therefore, and that Shri. MNO be and is hereby advised to submit his report to the Board of Directors beginning with negotiation for the purchase of land to the completion of the setting up of the factory, plant and machinery."
