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મોડર્ન ઇંસુલેટર્સ > કંપનીનો ઈતિહાસ > Electric Equipment > કંપનીનો ઈતિહાસ ના મોડર્ન ઇંસુલેટર્સ - બીએસઈ: 515008, ઍનઍસઈ : MODINSULAT

મોડર્ન ઇંસુલેટર્સ

બીએસઈ: 515008  |  ઍનઍસઈ : MODINSULAT  |  ISIN:  |  Electric Equipment

કંપનીનો ઈતિહાસ - મોડર્ન ઇંસુલેટર્સ
 Modern Insulators Ltd. (hereinafter referred to as MIL) was
 incorporated as a Public Limited Company on 1st May 1982 and the
 certificate for Commencement of Business from the Registrar of
 Companies, Rajasthan, at Jaipur, was obtained on 15th May, 1982.
 
 MIL promoted in the Joint Sector by Shri H.S.Ranka and Rajasthan
 State Industrial Development and Investment Corporation Limited
 (RIICO) is engaged in the manufacture of various types of High
 Tension (HT) Insulators upto 400 KV with an installed capacity of
 5000 tonnes per annum producing Sectional and Post Insulators, Solid
 Core Insulators for Railways and Bushings for Transformers, Apparatus
 Insulators, Solid Core Insulators including Long Rod and Line Post
 Insulators at Abu Road, District Sirohi in Rajasthan, in technical
 collaboration with Siemens AG, Germany.
 
 The project was set up at a cost of Rs.3310 lakhs with an overrun in
 cost of Rs.680 lakhs due to adverse exchange fluctuation and
 additional provision of expenditure and delay of about 2 years which
 was financed by term loans from institutions/banks aggregating
 Rs.2155 lakhs, Central
 Subsidy of Rs.25 lakhs, funded interest of Rs.261 lakhs and equity
 share capital of Rs.869 lakhs including oversubscription of Rs. 119
 lakhs.
 
 Since inception, MIL had been facing technical problems resulting in
 high degree of rejections at various stages of manufacture. With a
 view to helping MIL to overcome its resultant liquidity problems and
 stabilise operations on a viable footing, the institutions have been
 extending reliefs in the past by way of interest deferments and
 reschedulement of principal repayments. However, despite grant of
 reliefs / concessions, from time to time, there was no appreciable
 improvement in the performance of MIL and it continued to incur
 losses. Based on the audited accounts for the year ended 30th April,
 1991, a reference was made to BIFR under Sec. 15 (ii) of the Sick
 Industrial
 Companies (Special Provisions ) Act, 1985 (SICA) on the basis of
 which it was registered with BIFR. However based on another reference
 made to BIFR on the basis of its audited accounts for the period ended
 31.10.1992 which indicated positive Net Worth, the case was
 deregistered
 with BIFR. 
 
 MIL has since overcome the technical problems faced in the past and
 improved its capacity utilisation. However, due to liquidity
 constraints, MIL again approached the institutions with revival
 proposal in August, 1994, envisaging expansion in installed capacity
 to 6000 tpa and a package of reliefs/concessions. Institutions and
 Banks
 agreed to provide reliefs and concessions in respect of term loans by
 way of waiver of penal interest, liquidated damages, compound interest
 and also 50% of the simple interest outstanding as on 28.2.1993 and
 accepting payment of balance simple interest in 3 instalments payable
 by June 1996 besides revision of repayment schedules at net document
 rates to be paid during the years 1997-98 to 2002-03 as also certain
 reliefs in respect of working capital facilities subject to certain
 terms and conditions as per details given elsewhere in the LOF
 including the waiver of outstanding royalty dues and appointment of
 Joint Managing Director by Siemens AG, Germany and promoters raising
 funds by way of Rights Issue aggregating Rs. 1304 lakhs for part
 financing the scheme.
 
 2004
 - Hotline Teletube & Components Ltd has recommended dividend of 10%
 on the equity shares of the Company.
 
 2005
 - Hotline Teletube & Components Ltd has recommended dividend of 15%
 on the equity shares of the Company.
 
 
 
સ્તોત્ર: રેલીગેર ટેકનોવા


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