Thursday, October 12, 2023

Children Welfare Center School's 40-Year Exploitation Scandal Shakes Mumbai

Explosive Expose: Children Welfare Center School's 40-Year Exploitation Scandal Shakes Mumbai

Outrage Escalates: Children Welfare Center School Scam in Mumbai, Parents Demand Immediate Action

Mumbai’s, Versova, Yari Road Children Welfare Centre (CWC) educational scandal has ignited in the city. Children Welfare Center (CWC), a school that has manipulated the welfare system, wherein they take land from BMC under CTS no.1035 and CTS no.1121(A) Village Versova, on lease of 1 rupee per year, for 30 & 60 years respectively and they break the terms & conditions which has led to widespread outrage and calls for immediate intervention. The National Anti-Corruption and Crime Prevention Council, under the leadership of President Mr. Mohan Krishnan, has demanded swift action against this shocking exploitation.


The Children Welfare Centre (CWC) has further violated the rules and given the BMC land on lease to Orchid and Fairyland, to operate this business even though it is situated on space designated by the Brihanmumbai Municipal Corporation (BMC) for free education for the unprivileged children. The school authorities, led by the unscrupulous Ajay Kaul & Prashant Kashid, have charged exorbitant fees, up to two lakhs from each student up to the eighth grade, without any official permission. To exacerbate matters, the school has illegally extended its premises, constructing six banquet halls and two colleges, one for graduation and the other for law college, without the necessary permits, showcasing a complete disregard for the law. These centers were supposed to provide education to underprivileged children, with 30% of the students receiving free education, as per the established guidelines. Authorities have imposed a penalty of 23 lakhs in response to these blatant violations.

The National Anti-Corruption and Crime Prevention Council swiftly initiated action upon receiving this information. Versova Vidhan Sabha MLA Mrs. Bharati Lavekar, filed an official complaint, urging a thorough investigation and stringent action against the Child Welfare Center (CWC) school.


Expressing profound concern, the council has urgently called on relevant authorities to investigate this matter immediately. They are demanding accountability for those responsible for this reprehensible exploitation, ensuring to cancel the lease and immediately hand over the land to BMC. The council reiterates its commitment to upholding citizens' rights and has vowed to closely monitor the progress of this case.


This shocking revelation underscores the urgent need for stringent measures against such exploitation in the education sector. It raises profound questions about the integrity of institutions entrusted with shaping young minds. The nation watches closely as the authorities prepare to take decisive action against this egregious injustice, safeguarding the future of vulnerable students
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Adroit Industries (India) Limited IPO Opens on Wednesday, September 23, 2026 Total Offer Size- Up to 1,12,47, 000 Equity Shares of face value of ₹10 each Fresh Issue Size - Up to 98,97,000 Equity Shares OFS size - Up to 13,50,000 Equity Shares Total Size - ₹ 150.71 Crore (At Upper Price Band) Price Band - ₹ 126 - ₹ 134 per share Lot Size – 111 Equity Shares Mumbai, September 21, 2026 - Adroit Industries (India) Limited is a vertically integrated manufacturer of propeller shafts and torque-transmission components with over four decades of operational experience, serving automotive, primarily commercial vehicles, and non-automotive applications, including defence and emergency services, heavy equipment and off-highway machinery and industrial equipment across more than 32 countries, proposes to open its Initial Public Offering on Wednesday, September 23, 2026 aiming to raise ₹ 150.71 Crores (At Upper Price Band), with shares to be listed on the BSE & NSE. The offer size is up to 1,12,47,000 Equity Shares with a face value of ₹10 each with a price band of ₹126 - ₹134 Per Share. Equity Share Allocation QIB Portion – Not more than 50.00% of the Offer Non-Institutional Investors - Not less than 15.00% of the Offer Retail Individual Investors - Not less than 35.00% of the Offer The net proceeds from the IPO will be utilized for funding capital expenditure by the company towards procurement of machinery and equipment for enhancement of operations at the Dewas Facility and transportation vehicles for movement of goods between the manufacturing facilities, investment in its subsidiary Adroit Driveshafts Private Limited for capital expenditure towards machinery and equipment at the Pithampur Facility and transportation vehicles for movement of goods between the manufacturing facilities, investment in the subsidiary for repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by it, and general corporate purposes. The anchor bidding is on Tuesday, September 22, 2026. The offer will open on Wednesday, September 23, 2026 and will close on Friday, September 25, 2026. The Book Running Lead Manager to the Offer is Choice Capital Advisors Private Limited and the Registrar is Bigshare Services Private Limited. Mr. Saurabh Sangla, Chairman and Managing Director of Adroit Industries (India) Limited “expressed, The upcoming IPO marks a new phase for the Company. Over the years we have built vertically integrated capabilities spanning forging, precision machining, heat treatment, assembly, balancing and testing, and expanded our portfolio to over 5,000 SKUs of driveline components supplied to customers in more than 32 countries. Going forward, our focus will be on strengthening capacity across our manufacturing facilities, improving operational efficiency, deepening engagement with the Distributors, OEMs and Tier-1 customers across our export and domestic markets and broadening our automotive and non-automotive applications. The IPO will support our plans as we continue to strengthen the business and pursue long-term growth.” Mr. Ratiraj Tibrewal, Director of Choice Capital Advisors Private Limited said, “Adroit Industries (India) Limited has built an export-led driveline business over four decades, with vertically integrated manufacturing and a diversified customer base across automotive and non-automotive applications. The upcoming IPO marks an important step in the Company’s journey as it enters the public markets. We believe the Company’s integrated manufacturing capabilities, long-standing customer relationships and expanding product portfolio provide a foundation for its next phase of growth. We are pleased to be associated with Adroit Industries (India) Limited as it takes this step towards becoming a publicly listed company.” About Adroit Industries (India) Limited Adroit Industries (India) Limited is a vertically integrated manufacturer and supplier of propeller shafts – also known as drive shafts or cardan shafts – and related torque-transmission components. Its portfolio spans over 5,000 SKUs of driveline components, including propeller shaft assemblies, yokes, shafts, companion flanges, universal joints and accessories, supplied to automotive applications, largely commercial vehicles and SUVs, and to non-automotive applications spanning defence and emergency services, heavy equipment and off-highway machinery and industrial equipment. The Company operates three manufacturing facilities in Madhya Pradesh – Dewas Facility i.e for die making and forging processes, Pithampur Facility for machining and assembly, operated by its subsidiary Adroit Driveshafts Private Limited, and Sanwer Road Facility for certain finishing operations– with end-to-end in-house capabilities covering forging, precision machining, heat treatment, assembly, balancing and testing. The facility is certified under IATF 16949, ISO 9001, ISO 14001 and ISO 45001. With operations commencing in 1966, the Company has evolved into an export-led driveline components manufacturer, with 95.39% of Fiscal 2026 product sales derived from outside India across more than 32 countries, supported by a Canadian subsidiary for North American customer engagement, and serving 185 customers in Fiscal 2026 through distributors, Tier-1 driveline component suppliers and OEMs. In FY26, The Company achieved a Revenue from operations of ₹1,399.43 million, EBITDA of ₹387.10 million & PAT of ₹261.58 million. Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Adroit Industries (India) Limited IPO Opens on Wednesday, September 23, 2026 Total Offer Size- Up to 1,12,47, 000 Equity Shares of face valu...