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Amalgamated Electricity Company Ltd Company background
Founded in: 1936
The Amalgamated Electricity Company Limited was incorporated on June 17, 1936. The Company provides a wide range of consultancy and management services. The main object and business of the Company was to generate, develop and accumulate electrical power and transmit and supply the same to various areas. Since some time now, the Company has diversified into trading in electrical, electronic and wireless equipments for industrial, commercial or domestic purposes.During year 2014, Amalgamated Business Solutions Limited (ABSL), subsidiary of the Company, made a preferential issue of 1,000 equity shares of Rs 10/ each pursuant to Section 81 (A) of the Companies Act, 1956. Further to the allotment of said Shares, the Companys holding in ABSL reduced to 49.40% of the enhanced capital of ABSL. Consequently, ABSL ceased to be a Subsidiary Company.
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