Company History: Patel On-Board Couriers Ltd. was incorporated on 31st October 1988 as a Private Limited Company to carry on the business of On- Board Couriers co-loaders and tours and travel agents. The Company became a deemed Public Company on 12th June 1989 and was subsequently converted into a Public Limited Company on 18th May 1994.Presently the Company is a subsidiary of Patel Roadways Ltd. which holds 51% of the total Equity capital. After the completion of the Public Issue the Company will cease to be a subsidiary of Patel Roadways Ltd. which however will not have any material impact on the business of the Company as the activities of the Company are independent of the nature of activities of Patel Roadways Ltd.
The activity was initially started as a division of Patel Roadways Ltd (PRL). On 31st October 1988 Patel on-Board Couriers Pvt Ltd (POBC) was incorporated to formally take over the business from PRL.
The Company's main activity i.e. co-loading for the Express Industry is dependent on the existence and business growth of the Express Industry.
The Company very recently set up two separate divisions to handle the businesses of Tours and Travels and Airfreight to provide all travel related services both domestic and international under the former and to book air cargo for different destinations under the latter.
The Promoters :
The Company was promoted by Mr. F. J. de Souza and Mr. Anil Mehta to commence the co-loading activity. The Company later on took over the On-Board Courier division of Patel Roadways Ltd. Mr. F. J. de Souza was heading the On-Board Courier division of Patel Roadways Ltd. before incorporation of this Company.
Wall Stree Finance Ltd (WSFL)PRL holds 10% of the equity capital of WSFL which is a widely-held Public Limited Company. WSFL started operations in 1988 with a range of services including retail financing leasing and hire purchase schemes long and short term loans bill discounting and truck hire challan discounting.
PATEL INTERNATIONAL PVT LTD (PIPL)PIPL started its activities in 1977 as an Engineering Exports Division of PRL and was late incorporated as a Private Limited Company in February 1988 it thereafter went into export of marine processed foods and leather garments.
WALL STREET CONSTRUCTION LTD (WSCL)WSCL in which PRL has a shareholding of less than 4% is engaged in the business of construction and was taken over by the House of Patels in October 1986.
NATASHA CONSTRUCTIONS PRIVATE LIMITED (NCPL)NCPL was incorporated in 1979 with the primary object of carrying on the business of construction of residential and commercial complexes.
PATEL PLAZA PRIVATE LIMITED (PPPL)PPPL was incorporated in the year 1981 with the objective to own construct and manage furnishing of Departmental Stores Super Markets and commercial centres.
Other Companies in the group include Wall Street Leasing & Finance Private Limited (WSLFPL) Yasmin Finance and Trading Pvt Limited (YFTPL) Patel Couriers Pvt Limited (PCPL) Patel Management Consultancy Pvt Ltd (PMCPL) Patel Holdings Pvt Ltd (PHPL) Transways Combines Pvt Ltd (TCPL) Patel Real Estate Developers Pvt Ltd (PREDL) and Silver Stone Merchantile Limited (SSML). However these companies are not very active.
