About the Company
Karma Energy, a flagship company of the group was initially engaged in Textile Processing and Exports, A to Z of Non Banking Finance Activities and in early 1990's commenced Money Changing Business as Full Fledged Money Changers (FFMC) registered with Reserve Bank of India (RBI) and later extended the activities as representative of Western Union Money Transfer. The company promoted Housing Finance Company and ventured into Renewable Energy sector by developing Wind Farms and also undertaking manufacture of Wind Electric Generators through Joint Venture Collaboration.
With efflux of time the focus business segments of the group comprised of Textile Processing and Exports, Financial Services, RBI registered Authorized Dealer Category-II and one of the leading representatives of Western Union Money Transfer Services, USA and Development of Renewable Energy Projects primarily Wind Power and Small Hydro Power.
In 2010 being the Silver Jubilee Year of Weizmann, the group completed a restructuring exercise involving merger of its subsidiary companies Weizmann Forex Limited and Karma Energy Limited and demerger of forex business undertaking and power business undertaking into resultant companies which was rechristened as Weizmann Forex Limited and Karma Energy Limited respectively.
Post restructuring process, Karma Energy Limited spearheads the development of Renewable Energy Sector viz. Wind Power, Small Hydro Power of the Group. The Power Projects are spread over States of Andhra Pradesh, Gujarat, Himachal Pradesh, Karnataka, Maharashtra and Tamil Nadu.
Busines area of the company:
The company is engaged in to the production and development of Renewable Energy Sector.
• Weizmann Limited
• Weizmann Forex Limited
• The first group to introduce 500 KW capacity wind turbines in the Indian market.
• Only company to implement a wind farm at an elevation of 1220 amsl.
|Karma Energy Ltd.
|Chetan D Mehra