WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM ...

WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM
CDH:
CDH is an indirectly wholly owned subsidiary of WABCO Europe BVBA, a private
limited liability company incorporated in Belgium which is an indirectly wholly owned
subsidiary of WABCO Holdings Inc., USA, a company incorporated in the State of
Delaware, USA. WABCO Holdings Inc., USA, which spun off from American Standard
Companies Inc. (currently known as Trane Inc.) in 2007, has its headquarters at one
Centennial Avenue, Piscataway, New Jersey 08855, USA and is a publicly traded
company listed on the New York Stock Exchange.
WABCO is one of the world's leading providers of electronic braking, stability,
suspension and transmission automation systems for heavy-duty commercial
vehicles. WABCO’s customers include the world’s leading commercial truck, trailer,
and bus manufacturers.
TVS Group and CDH, both being promoters of SCL are also the Promoters of the
Company with the same percentage of shareholding as in SCL, prior to Demerger.
The Company confirms that the Permanent Account Numbers, the bank account
numbers, the Company Registration numbers and the addresses of the Registrar of
Companies, where the companies are registered shall be provided at the time of
filing the Information Memorandum.
Interest of Promoters:
The Promoters have technical and financial collaboration with the Company.
TVS is marketing the products manufactured by the Company in the replacement
markets through its distribution outlets. The Company has also been procuring
components from and exporting the products manufactured by it to WABCO.
Apart from the above, there are no other interests of the Promoters in the Company.
Currency of presentation:
In this Information Memorandum all references to “Rupees” or “Rs.” are to Indian
Rupees, the legal currency of the Republic of India.
Dividend Policy:
The Company does not have any formal dividend policy in respect of its Equity
Shares. The declaration and payment of equity dividend in the Company is
recommended by the Board and approved by the Equity Shareholders, at their
discretion, and will depend on a number of factors, including but not limited to the
Company’s profits, capital requirements and overall financial condition. The Board
declared an interim dividend of Rs.6/- per Equity Share for the year ended 31 st
March 2008 and paid to the Equity Shareholders on 8 th September 2008.
XI. FINANCIAL STATEMENTS:
FINANCIAL STATEMENTS OF THE COMPANY FOR THE PREVIOUS THREE
YEARS AND LATEST AUDITED FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31 ST MARCH 2008 WITH NOTES TO ACCOUNTS:
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