Walchand Group

THE WALCHAND GROUP Vaibhav Vinekar (656) Priya Rebello (639) Dr. Nilesh Khadse (637) Melisia Fernandes (632) Brief Profile The Walchand Group of Industries was founded by lot Walchand Hirachand. He came from a family in the head start touch engaged in money-lending and trading. He started off in entrepreneurship with co-founding the Phatak-Walchand Pvt. Ltd., which undertook contracts for line constructions. However, after a few years, the lodge found it operose to knockout major projects, and was later merged into the Tata Construction family. With help from the Tata badge, he undertook many major construction contracts, and later became the Managing-Director of the company. In 1935, the company was renamed to postmortem examination Construction to reflect the fact that the Tatas had change their stake in it. Also, in the post-World War- I period, he bought a steam-ship along with his friends from the Scindias of Gwalior and started the first „swades hi? shipping company- The Scindia Steam Navigation partnership Ltd. In 1929, he became the chairwoman of The Scindia Steam Navigation Company Ltd. and continued in the same lay till 1950. By 1953, the company had captured 21% of Indian coastal traffic. In 1939, he was inspired to start an aircraft company.

Hindustan Aircraft was started in Bangalore in the region of Mysore with the participating support of its ruler, in December 1940. By April 1941, the Indian governing body acquired one-third of ownership and by April 1942, it nationalized the company by compensating shareholders adequately. The reasons that prompted the governmental sympathies! for nationalizing were it was a sensitive and strategic sector; Japan?s advances in the fight meant that the government needed fast responses and hence, fancy ownership; and it could not allow a crucial warfare project to remain undercapitalized or loss-making. Hindustan Aircraft was renamed as Hindustan Aeronautics Limited. Walchand as well thought it was of great importance to have a ship-building...If you deprivation to get a full essay, order it on our website: BestEssayCheap.com

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