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વિલાર્ડ ઇન્ડિયા > કંપનીનો ઈતિહાસ > Sugar > કંપનીનો ઈતિહાસ ના વિલાર્ડ ઇન્ડિયા - બીએસઈ: 504227, ઍનઍસઈ : WILLARDLTD

વિલાર્ડ ઇન્ડિયા

બીએસઈ: 504227  |  ઍનઍસઈ : WILLARDLTD  |  ISIN: INE481D01018  |  Sugar

કંપનીનો ઈતિહાસ - વિલાર્ડ ઇન્ડિયા
The Company was Incorporated on 11th May,1973 at Kanpur.The Company's
 object is to manufacture all types of lead acid storage batteries
 such as automotive batteries, stationary  batteries, train lighting
 cells and other related products such as hard rubber containers,
 P.V.C. sintered separators.
 
 The Company was promoted by K.P. Singh and American Universal
 Electric (India) Ltd.
 
 The Company entered into a collaboration with ESB Incorporation,
 U.S.A. for the training of Indian personnel, advice on selection of
 plant and machinery and assistance in start-up operations of the
 plant.
 
 4,00,000 shares subscribed for by promoters, etc.  58,500 shares for
 consideration other than cash and 2,01,500 shares for cash issued to
 ESB International Corpn. USA. (collaborators).
 
 
 1974 - During December, 1973, 3,40,000 No. of equity and 30,000
 pref.
        shares offered to the public at par. pref. shares are
 redeemable
        at par between 12 to 15 years from the date of allotment.
 
 1975 - 2,50,000 No. of equity and 10,000 11% pref. shares issued as 
        rights in prop. 1 equity : 4 equity and 1 pref. : 3 pref. 
 Only
        1,72,242 No. of equity and 9,949 pref. shares taken up.
 
 1977 - 40,000 more equity shares taken up:  31,000 shares by
 Panchsheel
        Investment Co. and 9,000 shares by Ch. Raghavendra Singh.
 
 1979 - With effect from 1st August, Chitavalsah Jute Mills Ltd., was
        amalgamated with the Company.
 
      - In terms of the Scheme of Amalgamation, 5,000 - 11%
 preference
        shares and 18,09,000 No. of equity shares of the Company were
        allotted to the members of the Chitavalsah Jute Mills Ltd., 
        without payment in cash.
 
      - Equity capital reduced in terms of the Scheme of Amalgamation
 of
        Chitavalsah Jute Mills Ltd. with the company.
 
 1980 - A licence was received for increasing the capacity of
 automotive
        batteries from 1,20,000 nos. to 3,00,000 nos.  
 
 1981 - 5,000 11% pref. and 18,09,000 No. of equity shares allotted 
        without payment in cash to members of Chitavalsah Jute Mills
 Ltd.
 
 1982 - Working results were adversely affected in Chitavalsah Jute
 Mills
        division due to strike by workmen for nearly 4 months.
 
 1983 - A technical collaboration agreement was entered into with
 Japan
        Storage battery Co. Ltd., Kyoto, Japan for the introduction of
 a
        new range of repairable batteries to suit Indian conditions.
 
 1985 - Sales declined to 1,45,697 batteries valued at Rs.13.43 crores
 
        due to recessionary trends in the commercial vehicles and
 tractor
        segments.
 
      - 36 forfeited equity shares reissued at par.
 
 1989 - The battery division undertook implementation of
 modernisation
        and technology upgradation programme for which funds had been
 
        released by the financial institutions.  This was to result
 in
        establishment of basic facility for manufacture of PP
 batteries.
 
 1991 - The Company undertook to set up a new modern sugar factory
 with
        an installed capacity of 2,500 TCD along with co-generation
 of
        power to the extent of 6 MW at village Bhanduria,
 Bulandshahar
        district in U.P.
 
      - The 44,494 - 14% preference shares of Rs.100 each were to be
        converted into 4,49,940 No. of equity shares of Rs.10 each at
 par
        with effect from 1st January.
 
      - Since necessary approvals in this regard were still awaited,
 the
        amount of preference share capital remained unchanged till the
 
        end of March 1992.  However, the proportion amount of the
        dividend liable to the paid to preference shareholders upon
 such
        conversion had been duly appropriated and provided in the 
        accounts.
 
      - 7,25,000 No. of equity shares allotted to promoters.
 
 1992 - On 2nd February, a lock-out was declared in the unit.
 
      - The Jute division was selected under the National Jute
 programme
        for setting up a pioneering facility to manufacture high speed
 
        ring span super fine jute as well as special light-count
 blended
        yarns.
 
      - The Company proposed to increase the plants crushing capacity
 to
        5000 TCD, for producing industrial alcohol from molasses and 
        increasing the power generation from 6 MW to 18 MW.
 
 1993 - During January, the company issued 10,76,520 - 15% secured
 fully
        convertible debentures of Rs.250 each on right basis in the 
        prop. of 3:10 for equity shareholders and 3:1 for preference 
        shareholders.  All were taken up.
 
      - Part A of Rs.125 of each debenture was to be converted in 5 
        equity shares of Rs.10 each at a prem. of Rs.15 per share on
 1st
        April.
 
      - Part B of Rs.125 was to be converted into 5 equity shares of
        Rs.10 each at a prem. of Rs.15 per share on 1st April, 1994,
 with
        an option to convert the Part B of the debentures on 1st
 April,
        on same terms of conversion.
 
      - Simultaneously with the rights issue, the Company issued 
        6,02,900 - 15% secured fully convertible debentures of Rs.300
        each through prospectus of which 30,000 debentures were
 reserved
        for allotment to the employees of the company.  Only 230 
        debentures taken up by employees.  The balance 5,72,900
 debenture
        along with 29,770 debentures not taken by the employees were
        offered to the public.  All were taken up.
 
      - Part A of Rs.150 of each debenture was to be converted into 5
        equity shares of Rs.10 each at a prem. of Rs.20 per share on
 1st
        April.  
 
      - Part B of Rs.150 was to be converted into 5 equity shares of 
        Rs.10 each at a prem. of Rs.20 per share on 1st April, 1994
 with 
        an option to convert the Part B of the debenture on 1st
 April,
        on same terms of conversion.
 
 2002-Willard India Ltd has informed BSE that the Board of Directors
 at its meeting held on July 31, 2002 has decided to issue 5,000,000
 equity shares of Rs.10/- each aggregating Rs 5,00,00,000/- on
 preferential allotment basis to the promoters/group Companies and
 associates. The preferential issue will be approved by the
 shareholders in the coming AGM.
સ્તોત્ર: રેલીગેર ટેકનોવા


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