The Company was originally incorporated under Companies Act
 1956 as a Private Limited Company on 12.10.1990 (Certificate
 of Incorporation No.21-50020 of 1990 issued by Registrar of
 Companies, West Bengal) in the name of Acknit Knitting
 Private Ltd.  Subsequently the Company has been converted
 into a Public Limited Company and the name was changed to
 Acknit Knitting Limited and fresh certificate of
 incorporation was obtained from Registrar of Companies,
 West Bengal at Calcutta on 08.08.94 consequent upon change
 of name.
 
 In pursuance of its object, the Company has set up a 100%
 Export Oriented Unit at Falta Export Processing Zone, West
 Bengal in the year 1991 by installing only 20 fully
 computerised knitting machines imported from Japan.
 Installed production capacity of the unit was then 108000
 dozen pairs of Seamless knitted handgloves.  The unit
 commenced commercial production from September'91 and has
 been successfully exporting its entire production since
 then.  Quality of the products manufactured by the Company
 was well accepted in the international market since very
 beginning.
 
 Encouraged with the potential of manufacture and export of
 the product, the Company embarked upon an expansion plan
 during the second year of production itself with another 40
 fully automatic computerised knitting machines of Japanese
 make.  All these machines have been successfully
 commissioned and commercial production therefrom has
 already commenced.
 
 The Company has been able to successfully export its
 products to countries like Italy and France.  To penetrate
 other overseas markets as well as for expansion of export
 sales in their existing markets, the Company had been
 awarded with a grant assistance of US$ 16,500 by Bank Of
 Baroda under its World Bank aided Export Development Fund
 in the year 1993-94.  The Company has all along been
 exporting its products only to GCA countries thereby
 earning valuable foreign exchange for the country.
 
 Having established itself in the export market supported by
 the confidence of overseas clientele as demonstrated by
 large scale repeat orders, the Company has planned to
 undertake further expansion of capacity with an element of
 horizontal diversification of product range for 100% export
 at an estimated project cost of Rs.412.19 lacs to gain from
 the potential of export of such products and current
 governmental policies and thrusts towards export.
 
 MAIN OBJECTS OF THE COMPANY :
 
 The main objects of the Company are set forth in the
 Memorandum of Association and include, inter alia,
 
 1. To establish, carry on, maintain, operate and run in
 India or elsewere business of trading, re-sale,
 manufacture, production, process, conservation and to do
 job work of all kinds and forms of cotton, hosiery,
 knitting, synthetic, woolen, canvas, handgloves, socks,
 sleeves, underwear garments, readymade garments, sweaters,
 cardigans, shawls, hankies caps and shoes made from or
 based on one or more of the products, or articles mentioned
 herein above and exports, imports of such hand-gloves,
 socks, sleeves, yarn, cloth and such raw materials,
 clothes, yarn and other textiles and allied products and
 dealing in their wastages and by-products.
 
 2. To import, export, buy, sell or deal in hand-gloves,
 socks, sleeves, underwear-garments, readymade garments and
 hosiery, curtain and furnishing items, decorations and art
 goods made of cloth, piece-goods and to establish retail
 chain of stores, offices, shops, show-rooms, depots in
 India or abroad.
 
 2005
 
 
 -Board recommends dividend of 20%.
 
 
 2008
 
 -Company name has been changed from Acknit Knitting Ltd to Acknit
 Industries Ltd.