Forbes & Company Ltd, formerly known as Forbes Gokak Ltd is one of the oldest companies of world that is still in business. The company operates with a diversified portfolio comprising shipping, automation, precision tools, energy systems, and consumer durables. They are having their manufacturing facilities located at Aurangabad, Thane and Mumbai in Maharashtra and Hosur in Tamil Nadu. The company operates in four divisions namely, Engineering, Logistics Solutions including shipping related activity, Upmarket Brands and Others. The Engineering Division comprises precision tools, business automation, coding business, motor manufacturing, measuring instruments and turbine agency. The Logistics Solutions Division comprises of two Container Freight Stations at Veshvi and Mundra, MTO, logistics, liner agencies, tramp, ship broking and chartering business. Upmarket Brands comprises retailing of Savile Row brand products through their own outlets and channel partners. Others include, Realty Division, for creating value from the real estates owned by the company at various locations. The company traces their origin to the year 1767, when John Forbes of Aberdeenshire, Scotland started his business in India. Over the years, the management of the company moved from the Forbes Family to the Campbells to the Tata Group and now finally to the well known Shapoorji Pallonji Group, leaders in infrastructure, construction and real estate businesses, amongst many others. Forbes & Company Ltd was originally incorporated on November 18, 1919 under the name The Gokak Mills Ltd. In the year 1972, Patel-Volkart Ltd was amalgamated with the company with effect from June 30, 1972 and the name was changed to Gokak Patel Volkart Ltd on December 31, 1973. In the year 1979, the company undertook a modernization programme involving an outlay of Rs 366 lakh. In the year 1983, the company acquired a hydro power generating set of 1 Megawatt capacity. In the year 1989, they acquired the spinning unit at Vadodara having an installed capacity of 25 000 spindles, which was named as Gokak Vadodara Spinning Mills. Also, they set up a textile mill in Indonesia with a capacity of 30,000 spindles during the year. In the year 1992, Forbes Campbell & Co Ltd was amalgamated with the company and the name of the company was changed to Forbes Gokak Ltd with effect from September 28, 1992. In the year 1995, the company commissioned new 15,000 spindles cotton yarn EOU project at Gokak Falls. In the year 1999, the company and Barwil Agencies of Wilh Wilhemsed Norway formed a joint venture company for providing shipping agency transport logistics and related services in India with their headquarters in Mumbai. During the year 2001-02, the company undergone a restructuring in the shareholding pattern and Shapoorji Pallonji Group acquired a majority stake of the share capital of the company and Forbes Gokak Ltd became a subsidiary of Shapoorji Pallonji & Company Ltd. Also, the company made a tie up with DAKS Simpson for licensing rights for distribution of DAKS products in India. In the year 2003, they became a company in the Pallonji Mistry's lottery venture Dhandhanadhan Infotainment as the company bought out 49% holding in Dhandhanadhan for a consideration of Rs 5.88 crore. During the year 2003-04, Bradma of India Ltd and Champbell Knitwear Ltd, wholly owned subsidiaries of the company were amalgamated with the company with effect from April 1, 2003. Also, the company entered into a marketing tie up with DAKS Simpson British apparel major to manufacture & market DAKS range of brands in India. During the year 2004-05, the company set up first overseas subsidiary, namely Forbes Sterling Star Ltd, which owns an 11138 gross ton, RORO Container Ship, named, M V X-Press Alexander. The company installed new equipments, namely Autostriper Machines, Jacquard Collar Machines and T-Shirt printing machines, which are operating at full capacities. Also, the company bought 19,80,000 shares of Eureka Forbes Ltd for aggregate amount of Rs 524.20 million and thus Eureka Forbes Ltd became a wholly owned subsidiary of the company. During the year 2005-06, the FAL Industries Ltd was amalgamated with the company with effect from April 1, 2005. The company increased the yarn dyeing capacity from 10 MT to 15 MT per day. Forbes Patvolk Shipping division entered into a strategic alliance and set up a joint venture company, Forbes Bumi Armada Ltd for looking after the offshore markets. During the year, the company together with the Sterling Investment Corporation Pvt Ltd, the holding company entered into an agreement with the Shipping Corporation of India Ltd for setting up a joint venture company to own and operate vessels. Also, the company promoted Forbes Edumetry Ltd and Edumetry Inc USA, which are engaged in the business of creating a value in the process of education measurement at international level. During the year 2006-07, the company commissioned K441 Reiter Ring Frames to produce compact yarn for a better price realization. Also, they commissioned Container Freight Station at Veshvi near JNPT. The company set up joint venture company, namely SCI Forbes Ltd as a part of a process to seek alliance and benefits from mutual strengths. They sold a vessel named 'X-Press Alexander' during the year. The company's Forbes Precision Tools division entered into marketing alliance with a Swiss company for trading in high performance tools, which improved their presence in the high-end tools market. Also, the division installed CNC grinding machines for manufacture of Solid Carbide Custom Tools, which cater to new application segments resulting into a higher unit realization. In June 2007, the company commissioned Container Freight Station at Mundra. The company de-merged their Textiles Undertaking, which include Yarn business with their manufacturing unit at Gokak Falls in Karnataka and Knitwear business with their manufacturing unit at Marihal in Karnataka into a separate company, namely Gokak Textiles Ltd with effect from April 1, 2007. Subsequently, the name of the company was changed from Forbes Gokak Ltd to Forbes & Company Ltd with effect from October 25, 2007. Forbes Campbell Holdings Ltd and Warrior (Investment) Ltd, two investment subsidiaries of the company were amalgamated into another investment subsidiary namely, Forbes Finance Ltd with effect from June 1, 2007. During the year 2008-09, the company made an additional investment of Rs 307.90 million in the equity shares of Forbes Finance Ltd, a wholly owned subsidiary company. Further, Forbes Finance Ltd has made investment of Rs 1500 lakh in the equity shares of Forbes Technosys Ltd by subscribing to the rights issue and purchase of shares from another subsidiary, namely Eureka Forbes Ltd. Thus, Forbes Technosys Ltd became a subsidiary of Forbes Finance Ltd. The company proposes to sell, transfer or dispose off the business of Business Automation Group of the Company to one of their subsidiary companies.