Jayavant Products was incorporated on December 5, 1994 to take over the existing partnership business viz. Jayavant Industries, under Section 565 of the Companies Act, 1956. The main object of the company is to carry on the business of manufacture and sale of all kinds of brooms, broom handles, sweeping brushes, toilet brushes and allied products.
The Administrative office of the company is situated in Hubli City. In addition to this, the company has its existing units at 2 locations in Hubli. The authorized capital of the company is Rs 600 lakh. The unit, after expansion, will have an installed capacity to manufacture 100 lakh pieces of Hill Grass Brooms, 6 lakh pieces of Plastic Brooms and 15 lakh pieces of Toilet Brushes. The main raw material required for the manufacture is Hill Grass procured from north eastern parts of India, especially from Assam, Siliguri, Orissa, etc. The company is in the process of expanding its capacity and upgrading its quality control facilities.
Goutamchand Mehta started with the manufacture of grass brooms in the year 1992-93 as a proprietorship concern, which was converted into a partnership firm on April 1, 1994 under the name and style of Jayavant Industries. In view of the increased growth in demand for the products and consequent increased operations, the unit for ensuring effective management and for increased business, the promoters decided to form a limited company.
The company took over the assets of the erstwhile partnership firm namely Jayavant Industries worth Rs 75.71 lakh and liabilities worth Rs 25.80 lakh at their book values.