Established in 1958, Electric Control Gear (India), a part the Piramal group of companies, is promoted by Mohanlal Piramal and Ajay Piramal. It is engaged in the manufacture of low tension switchgear and safety products in technical collaboration with Holec Systemen and Componenten, Netherlands and Felten and Guilleaume, Austria. It is the market leader in the field of changeover switches and moulded case circuit breakers. During 1996-97, ECGIL has signed a MoU for setting up a Joint Venture company with Gerard Industries Pty Ltd, Australia for the manufacture of domestic switches, sockets & allied accessories under the CLIPSAL trade mark. A Joint Venture company named Elcon-Clipsal India Pvt Ltd has already been formed to implement the project. With effective date from 1st April, 1997, Company has transfer of the electrical swithgear business of the company excluding Investment in Piramal Financial Services Limited to a Joint Venture Company Elcon-Clipsal India Limited as a going concern. Company now holds 50% of the paid up equity share capital of Elcon Clipsal India Limited & Other 50% of the paid up capital of Elcon Clipsal India Ltd is held by Clipsal Investement Pte Ltd, Mauritius, an associate of Gerard Industries Pty Ltd., Australia.