| Dynamic Microsteppers Ltd. was originally incorporated on 18th May 1985 as Dynamic Microsteppers Pvt Ltd. It took over the operations of a partnership concern of the same promoters called Microsteppers Manufacturing Company as a going concern vide Deed of Assignment dated 2nd September 1985. According to the legal Advisors of the company, M/s Mehta & Girdharilal, by virtue of Clause 6 & 38 (as detailed below in Objects of the Company) of the Memorandum & Articles of Association of the company, the company was entitled to enter into the Deed of Assignment by virtue of which it has taken over the business of M/s Microsteppers Manufacturing Company as a going concern along with its goodwill, the contractual tenency in respect of the factory of the said partnership firm, together with all the assets, quota rights, licences, plant and machinery, etc. and all the liabilities of the said firm as on 31st August, 1985 for a net consideration price of Rs. 15,99,699.90. Subsequently, the company has been converted into a Limited Company in terms of a special resolution passed on 4th January 1995 and a fresh Certificate of Incorporation was obtained from the Registrar of Companies on 28th February 1995.
Business : The company currently has two factories, one located at MIDC, Plot No. W-6(A). Village Lading, Dist. Dhule and 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 & reduction gear mechanism for Quartz Timing Movements model Cal 331 used in Wall Clocks, Table Clocks and Alarm Time pieces. These stepper motors are sold to group companies which manufacture QTM, clocks and Alarm Time pieces. They are acknowledged as suppliers of quality Quartz Horological products. These products are marketed by the group companies under the brand name "COPWUD", which enjoy a tremendous goodwill and reputation in the market place and command a premium in the face of stiff competition. The company sold 14.61 lacs nos in the year 1993-94 valuing Rs. 416.75 lacs.
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