ABOUT THE COMPANY
Mahindra & Mahindra Limited is a leading Indian multinational corporation based in Mumbai, India. The company has a rich history that dates back to 1945 when it was founded as a steel trading company. Over the years, it has grown and diversified into various business areas, such as automotive, aerospace, agribusiness, and financial services. This article provides an overview of the company’s history and its evolution into a major player in the Indian and global business landscape.
The Early Years (1945-1950s)
Mahindra & Mahindra Limited was founded in 1945 as a steel trading company by brothers J.C. Mahindra and K.C. Mahindra, and their partner, Ghulam Mohammed. The company was initially named Mahindra & Mohammed and was based in Mumbai, India. Its first product was steel, which was in great demand during the post-war reconstruction period.
In the early 1950s, the company diversified into the automotive sector by setting up a joint venture with Willys-Overland Corporation of the United States. The joint venture, known as Mahindra & Mahindra (M&M), started producing the iconic Willys Jeep in India under license from Willys-Overland. The Willys Jeep became a symbol of ruggedness and durability and quickly gained popularity in the Indian market.
Expansion and Growth (1960s-1980s)
In the 1960s, Mahindra & Mahindra expanded its product portfolio and started producing light commercial vehicles, tractors, and utility vehicles. The company’s first indigenous product was the Mahindra CJ-3B, which was launched in 1961. The CJ-3B was a modified version of the Willys Jeep, and it had several improvements, such as a more powerful engine and better suspension.
In the 1970s, Mahindra & Mahindra continued to expand its product portfolio and started producing heavy commercial vehicles, diesel engines, and other industrial products. The company also diversified into new business areas, such as real estate and hospitality.
In the 1980s, Mahindra & Mahindra entered the information technology sector by setting up a joint venture with IBM. The joint venture, known as Mahindra-British Telecom, provided software development and IT services to clients in India and abroad.
Diversification and Global Expansion (1990s)
In the 1990s, Mahindra & Mahindra underwent a major transformation by diversifying into new business areas and expanding its global presence. The company entered the financial services sector by setting up a joint venture with BNP Paribas. The joint venture, known as Mahindra-BNP Paribas, provided a range of financial services, such as asset management, insurance, and investment banking.
In 1996, Mahindra & Mahindra launched its first passenger vehicle, the Mahindra Armada. The Armada was a rugged and reliable SUV that was designed for the Indian market. Over the years, Mahindra & Mahindra continued to launch new passenger vehicles, such as the Bolero, Scorpio, and XUV500, which became popular in India and other markets.
In the late 1990s, Mahindra & Mahindra started expanding its global presence by setting up subsidiaries and joint ventures in various countries, such as the United States, China, and South Africa. The company also acquired several companies in India and abroad to expand its product portfolio and gain access to new markets.
Recent Developments (2000s-2020s)
In the 2000s, Mahindra & Mahindra continued to grow and expand by focusing on innovation, sustainability, and customer-centricity.
RECOVERY OF UNCLAIMED SHARES
To claim unclaimed shares of Mahindra & Mahindra Limited from the Investor Education and Protection Fund (IEPF) authority, you need to follow the below steps:
- Visit the official website of IEPF at www.iepf.gov.in.
- Click on the ‘I Want to’ tab and select the ‘Claim Refund’ option from the drop-down menu.
- You will be directed to a new page. Click on the ‘Click Here to Apply’ button.
- Read the instructions carefully and then click on the ‘OK’ button.
- On the next page, select the ‘Mahindra & Mahindra Limited’ option from the drop-down menu.
- Enter the Permanent Account Number (PAN) or the Folio Number of the shares you wish to claim.
- Click on the ‘Search’ button.
- If the unclaimed shares are found, you can proceed to the next step. If not, the website will show ‘No records found.’
- Download the IEPF-5 form by clicking on the ‘Generate Challan’ button.
- Fill in the form with all the required details, attach the necessary documents, and sign the form.
- Submit the form along with the required documents to the nearest IEPF office.
- After the verification of the documents, the IEPF authority will process your claim.
Once the claim is processed, the shares will be transferred to your demat account. It is important to note that there may be a time limit for claiming the shares, and it is best to start the process as soon as possible. Additionally, you may want to consult a lawyer or a financial advisor for guidance on the process.