EMA India

EMA India Limited is a company that manufactures machine tools, primarily serving the automotive and other classified industrial sectors. For the last few years, the company has been experiencing significant financial losses, which are attributed to a continued recession in the industry. Due to these difficult market conditions and uneconomical operations, the management decided to shut down the company's manufacturing activities entirely. The company has also fully absorbed the technology for its imported equipment like Transistorized Converters and parts for Induction Heating Machines. To manage its daily expenses and meet legal requirements, the company proposes to increase its borrowing limit to three crore rupees. Auditors have stated that with no business at present and continuous losses, the company has ceased to be a going concern.;