Competent Automobiles Company Share price

The Company was incorporated as Competent Automobiles CoPvt. Ltd. in the Union Territory of Delhi on April 111985 and later on converted into Deemed Public Companyw.e.f. 01.07.89 u/s 43A and word "PVT." deleted from thecertificate of incorporation by the Registrar of CompaniesDelhi & Haryana. Subsequently shareholders of the Companypassed special resolution on 29.09.94 for deleting therestriction clause in the Articles u/s 3(1) (iii) of theCompanies Act 1956 and as such Company became fullfledged Public Limited Company within the meaning ofSection 3(1)(iv) of the Companies Act 1956.CACL is a profit making entity engaged in business of CarDealership for Maruti Udyog Limited having been allotteddealership on 17th January 1988. It also has workshops forservicing and repair of all vehicles sold. CACL is thenumber one Maruti car dealer in India with a total share of7.3% of all vehicles sold by Maruti Udyog. For threeconsecutive years 1991-92 1992-93 & 1993-94 CACL has beenfirst in the sales of cars in the sales of spare parts andthe first in workshop servicing for the last two years. TheCompany now proposes to set up an additional Workshopfacility to cater to vehicles in the East North & WestDelhi sector.