Pratap Bhogilal Journey Through Life

SR No.: 006943
Original Sutra Author: N/A
Author: Rauf Ahmed
Publisher: Bhupendra Singh Anand
Publication Year: 2014
Total Pages: 176
Language: English
Classification: Book_English
File Size: 5 MB

Page 51

THE JOURNEY | 45
taxes during the war, when there was excess profit tax on both, income and wealth tax which were very high. During the war, Batliboi's sales had shot up and there were huge profits.
The Income Tax Department assessed Vadikaka's and Maneklalmama's remuneration as well for excess profit tax for 1943-44. We challenged it on the plea that Vadikaka's and Maneklalmama's share in the profit before tax was their remuneration as employees of the company. We fought the case right up to the Supreme Court, which ruled in Vadikaka's favour Maneklalmama also benefited by the judgement. Unfortunately, the case dragged on and by the time the verdict came, Vadikaka had passed away! His net earnings during the war years were much more than our family's (because of E.P.T. and wealth tax). Vadikaka had set up a charitable trust.
After his death, his wife Menakaki transferred a large part of their savings to the trust. The trust donated funds to several educational and medical institutions in memory of Vadikaka and Menakaki (after her death), benefiting several natives of Kapadwanj. The trust named after Vadikaka and his wife Menakaki was mainly managed by me. It must be worth about Rs. 1.25 crore by now.
Batliboi's predominant business was Agency business for machinery and equipment of various types apart from the hardware business mainly carried on in our Nagdevi office. Later the Nagdevi building was sold off when we decided to close down the hardware business many years ago.
Prior to World War II (1939-45) Batliboi's business was mainly in imported machine tools,oil engines, imported files etc. Batliboi was agent for Eriksen's Lathes (Germany) and their representative Mr. Phillipsborn used to visit India frequently and he became a very good friend. Wilte oil engines (from USA) was another very good business. Hobbing machines from Barber Colman (USA), Pumps from Kalamazoo (USA), Electroplating materials and equipment from Canning (UK) and some other machine tools from UK. Frederick & O'Meara were our agent in New York. We also did business with Daihatsu engines, pharmaceutical machines from Japan and Mr. Muira was Batliboi's agent in Japan.
The only thing we have to fear is fear itself - Frederick D. Roosevelt