Ashok Leyland

1948
 
 - The Company was Incorporated on 7th September, at Chennai.  The
 Company Manufacture Comet chassis and Leyland `Tiger' and `Titan'
 chassis and Leyland diesel engines.
 
 1951
 
 - In July, 1,00,000 `B' Right Equity shares and in December,
 1,00,000
 `A' and 1,00,000 `B' equity shares offered.  133571 `A' equity
 shares
 subscribed for out of 1948 issued and July 1951 right issue; 22159
 `B'
 shares subscribed for out of December 1951 rights issue.
 
 1952-55
 
 - Further 6321 `A' equity and 948 `B' equity shares of 1951 issue
 subscribed.  All converted into Rs 5 face value.
 
 1955
 
 
 - The name of the Company was changed from Ashok Motors Ltd., to
 Ashok
 Leyland Ltd. in July.  Ashok Leyland Motors Ltd., are the associates
 of
 the Company.
 
 1956
 
 - In June, 4 lakh shares allotted to Leyland motors.  In Nov. 11
 lakh
 share issued at par 15,03,456 shares as rights in prop.  19:40 &
 5,96,544 shares to Leyland motors to maintain their holding at 40%.
 
 1957
 
 - 9,88,688 issued at par to public in August 1957.  11,312 shares
 reserved for allotment to Leyland motors to hold their level below
 49%.
 
 1959
 
 - In May, 25 lakh right shares offered at par in prop. 5:8 of this
 Leyland Motors were eligible for 12.25 lakh shares.
 
 1960-63
 
 
 - In December 34.45 lakh equity shares issued at par. 6.63 lakh
 shares
 as rights in prop. 1:5 and 27.82 lakh shares to Leyland Motors to
 keep
 their holding between 60%.
 
 1963
 
 - In October 11.05 lakh shares issued out of which 6,62,777 shares
 offered at par to Leyland Motors to be allotted from time to time. 
 The
 balance offered as rights to other members in prop.  1:9.
 
 1965
 
 
 - In May, 44,18,984 shares issued at par of which 26,51,110 shares
 offered to Leyland Motors against plant and machinery supplied by
 them.
 The balance offered as rights to other members in prop. 2:5.
 
 1975
 
 - 31,15,404 bonus shares issued in prop. 1:15.
 
 1978
 
 - 93,46,217 bonus shares issued in prop. 1:2.
 
 1979
 
 - In February, the Company made a public issue of 49,61,349 No. of
 equity shares of Rs 5 each at a premium of Rs 3 per share.
 
 - 4961349 shares issued (prem. Rs 3 per shares) 2,48,049 shares
 reserved and allotted on a firm basis to employees and business
 associates of the company and 47,13,300 shares for public
 subscription
 during February 1979.
 
 1980
 
 - In collaboration with Leyland Vehicles, Ltd., the Company embarked
 on
 a programme of manufacture of integral buses. The R&D division was
 also
 engaged in developing a new vehicle prime mover with turbocharged
 engine which in operation with a Tandem-Axle trailer, would enable a
 GTW of 26T.
 
 - The Company also developed a longer integral bus with larger
 seating
 capacity.  A technical collaboration agreement was entered into for
 the
 manufacture of synchromesh transmissions to the designs of
 Azhnradfabrik Friedrichschafen AG of West Germany.
 
 1981
 
 - Shares of Rs 5 each consolidated on 7.12.1981.
 
 1982
 
 - Prototypes of a 36' long integral bus and articulated bus for city
 applications were built.
 
 1983
 
 - The Company entered into an agreement for a joint venture in Sri
 Lanka for the assembly and progressive manufacture of Ashok-Leyland
 vehicles.
 
 - ACL proposed to create facilities for body building and assembly
 of
 panels for front-end structures for truck and business in order to
 cater to the requirements.
 
 - The Company entered into a technical collaboration with Hino
 Motor,
 Ltd., Japan for their `W' series engines.
 
 - Land-Rover Leyland International Holdings, Ltd., ceased to be a
 holding company of the Company from 1st November.
 
 1984
 
 - During April-May, the Company offered the following convertible
 and
 non-convertible redeemable debentures, all of the face value of Rs
 100
 each, for cash at par to the resident Indian equity shareholders on
 a
 rights basis for an aggregate nominal value of Rs 32.60 crores; (a)
 8,15,000 - 13.5% Series III-A secured convertible.  (b) 16,30,000 -
 13.5% Series III-B Secured Convertible.  (c) 8,15,000 - 15% Series
 III-C Secured non-convertible with options of cumulative and
 non-cumulative schemes for payment of interest.
 
 - The basis of offer was one block of debentures for every 10 equity
 shares and every shareholders holding less than 10 equity shares was
 entitled to receive a minimum of one block of debenture.  One block
 of
 debenture comprises the following:
 
 - One III-A Series debentures of Rs 100 each; Two III-B Series
 debentures of Rs 100 each and One III-C Series debentures of Rs. 100
 each.
 
 - The Company has an obligation to convert Rs 36 per debenture out
 of
 Rs 100 as follows: (a) In the case of III-A Series debentures, two
 equity shares of Rs 10 each at a premium of Rs 8 per share to be
 allotted on 1.11.1984.  (b) In the case of III-B Series debentures,
 two
 equity shares to Rs 10 each a premium of Rs 8 per share to be
 allotted
 on 1.1.1986.
 
 1986
 
 - DGTD registration for the manufacture of metal cutting and
 grinding
 machines at the Hosur and Alwar plants was obtained.
 
 - A prototype of a rear engine bus chasis according to the
 specifications laid down by special working group for use in State
 Transport Undertakings was acknowledged by the latter during the
 year.
 
 - The Company issued 10,00,000 - 13.5% secured non-convertible
 debentures - series IV, redeemable at 5% premium on 14th March,
 1993.
 
 1987
 
 - The Intermediate vehicle with 4-cylinder HINO engine was
 introduced
 in the market under the brand name CHITAL.  A test track for
 endurance testing of vehicles was also commissioned.
 
 1989
 
 - The Company introduced Normal Control (bonnetted) vehicle.  With
 access to superior IVECO technology, the Company was evaluating
 various
 contemporary product options that were relevant to the requirements
 of
 Indian road transport industry.
 
 - During July-August, the Company, offered 26,04,233 - 12.5%
 convertible debentures (Series V) of Rs 150 each to Indian resident
 shareholders as Rights in the proportion 1 debenture : 5 equity
 shares
 held.  (all were taken up).  Additional 3,88,226 debentures were
 allotted to retain oversubscription.
 
 - Another 1,30,212 - 12.5% debentures were also issued to employees
 of
 the Company (only 38,100 debentures were taken up).  The
 unsubscribed
 portion of 92,112 debentures was allowed to lapse.
 
 - Rs 70 of the face value of each debenture was compulsorily
 converted
 into two equity shares of Rs 10 each at a premium of Rs 25 per share
 on
 1.1.90.
 
 - Rs 80 of the face value of each debenture was to be redeemed at
 par
 in five equal annual instalments at the end of 5th, 6th, 7th, 8th
 and
 9th years from the date of allotment of debentures.
 
 - 60,61,118 shares allotted (prem. Rs 25 per share) on conversion of
 V
 series debs. on 1.1.90.  38,91,858 shares were allotted to NRIs
 (prem.
 Rs 25 per shae) to maintain their percentage of shareholding in the
 company.
 
 1990
 
 
 - A 25 tonnes three axled 6 x 6 articulated clump trunk was
 developed.
 
 - Effective from 1st March, Ductron was merged with the Company.  As
 per the scheme of amalgamation, the shareholders of Ductron Castings
 were allotted without payment in cash, one equity share of Ashok
 Leyland, Ltd. for every 3 equity share held by them in the erstwhile
 Ductron Castings Ltd.  Accordingly 1,53,333 equity shares were
 allotted.
 
 1991
 
 - The Company offered 96,16,226 - 14% secured redeemable partly
 convertible debentures (Series VIII) of Rs 200 each aggregating Rs
 192.32 crores to the existing equity shareholders in the proportion
 of
 1 debenture for every 2 equity shares held.
 
 - Another 4,80,812 - 14% partly convertible debenture of Rs 200 each
 were offered to the employees (including working directors) on
 equitable basis.  Additional 14,42,429 debentures to the equity
 shareholders and additional 72,121 debentures to the employees were
 allotted to retain oversubscription.
 
 - The non-convertible portion of Rs 100 of each debenture would be
 redeemed at par in three annual instalments of Rs 35, Rs 35 and Rs
 30
 at the end of the 7th, 8th and 9th years respectively from the date
 of
 allotment of the debentures.
 
 - Simultaneously with the offer of 14% partly convertible
 debentures,
 the Company offered 128,78,436 equity shares of Rs 10 each at a
 premium
 of Rs 40 per share to non-resident shareholders in the proportion of
 1:1, in order to maintain their existing percentage of shareholding
 in
 the Company.
 
 - Ductron Castings, Ltd., had become sick under the provisions of
 the
 Sick Industrial Companies (Sp. Provisions) Act 1985.
 
 1992
 
 - 116,11,585 No. of Equity shares allotted (prem. Rs 40 per share)
 on
 part conversion of VIII series debs. on 11.5.92.  Another 73,96,687
 shares allotted to NRIs on 11.5.92.
 
 1993
 
 - A 6 x 2 truck model was launched during the year.
 
 - With a view to increasing the shareholding of the collaborators
 LRLIH
 Ltd. to 51%, the Company allotted 171,00,000 No. of equity shares of
 Rs
 10 each at a premium of Rs 40 per share on 29th September.
 
 1994
 
 - The Company issued 10,771,908 GDRs at an issue price of US $ 12.79
 per GDR for a total value of US 7.773 millions.  Each GDR
 represents
 3 equity shares of Rs 10 each.
 
 - 32,315,724 shares issued through GDRs.
 
 - The Company entered into a technical collaboration with Hino
 Motor,
 Ltd., Japan for ther `W' series engines.
 
 1998
 
 - As at 31st March, the Company held 14,26,854 No. of Equity shares
 of
 Rs 10 each of Ennore Foundries, Ltd.
 
 - As on 31st March, sums of Rs 174.65 crores and Rs 50.72 crores
 were
 outstanding against term loans from financial institutions and banks
 respectively.
 
 - Ashok Leyland has introduced The Panther, a low floor bus which
 has
 been indigenously designed to cater to the needs of the common
 masses
 and is based on the parameters set by the Central Institute of Road
 Transport and the Association of State Road Transport Undertakings.
 
 - Ashok Leyland Ltd., the commercial vehicles major, has entered
 into
 an agreement with the leading US-based management consultant, A T
 Kearney, to kick-start the process re-engineering work in the
 company's
 various production units.
 
 - Ashok Leyland Limited is developing a new range of low floor
 chassis
 in the passenger vehicle sector for more convenient urban
 transportation.
 
 - Ashok Leyland Ltd (ALL) is introducing its latest hi-tech product,
 Panther into the Delhi Transport Corporation's (DTC) fleet.
 
 - The ministry of defence's vehicle factory in Jabalpur has signed
 manufacturing agreements with Ashok Leyland and Tata Electric and
 Locomotives Company (Telco) recently.
 
 - The commercial vehicle industry suffered severely due to the
 unprecedented slow down of the Indian economy.
 
 1999
 
 - The company would enter into an alliance with dealers of tractor on
 a
 temporary basis.  The company was talking to tractor manufacturers
 including Mahindra & Mahindra, Eicher, TAFE, and Punjab Tractors in
 this connection.
 
 - Hinduja group flagship company Ashok Leyland recently signed a
 memorandum of understanding with the Punjab government to set up a
 driving training institute at Rajpura in Punjab.
 
 2000
 
 - The Company launched of two interactive Internet initiatives, one
 for
 domestic parts operations and the other for exports.
 
 - Ashok Leyland has announced a voluntary retirement scheme for its
 `unionised staff'.
 
 - The Company has will hive-off its engines division to a joint
 venture
 with Iveco, which is a subsidiary of Fiat of Italy.
 
 - ALIT Inc, a 100 per cent subsidiary of Ashok Leyland Information
 Technology Ltd, has signed a contract to provide software services to
 a
 top Fortune-listed company.
 
 - Ashok Leyland Ltd (ALL) and Maruti Udyog Ltd have been selcted for
 the IRTE National Award, in recognition of their efforts towards
 promoting the cause of road safety, traffic managemen and
 environment
 protection.
 
 2001
 
 - Commercial vehicles manufacturers Ashok Leyland Ltd, Sundaram
 Industries Ltd.  and Irizar of Spain have formed a joint venture
 company - Irizar TVS Ltd for bus body building.  The JV company has
 been set up with a paid-up capital of Rs 75 lakhs with equal
 contribution from the three partners.
 
 - Ashok Leyland's Ennore unit has received ISO 14001 certification
 for
 its environment management system from Indian Registrar Quality
 Systems.
 
 - The Company has crossed its first milestone in setting up an
 environmental management system with its Ennore plant obtaining the
 ISO-14001 certification from the Indian Register Quality Systems.
 
 - The hinduja group flagship Ashok Leyland has chosen Compaq as the
 most preferred vendor in building an end-to-end IT infrastructure
 covering all operations of the company.
         
 - Ashok Leyland, a flagship company of Hinduja group, has withdrawn
 from the race for wresting control of oil marketing PSU IBP.
 
 - Ashok Leyland Ltd (ALL), the second largest commercial vehicle
 manufacturer, has unveiled two more variants of its existing models
 -
 the self loading truck and the gullwing container - in a bid to
 boost
 its sales.
 
 - Ashok Leyland Ltd (ALL) has reported a 3 per cent increase in net
 sales to Rs 637.46 crore for the second quarter ended September
 2001.
 
 - Ashok Leyland, which is half way through its borrowing programme
 for
 this year, proposes to raise Rs 100 crore by December. So far this
 year, the company has raised Rs 95 crore.
 
 - Ashok Leyland. According to corporate circles, about 15 companies
 have recognised the need for rewarding non-executive directors by
 way
 of commission.
 
 2002
 
 - Ashok Leyland Ltd has informed that Mr G Boschetti ceased to be a
 Director on our Board. Mr Marc Petit also ceased to be an Alternate
 Director to Mr G Boschetti.Mr R Sorce has been appointed as a
 Director
 in the place of Mr G Boschetti.
 
 -R Seshasayee reappointed as Managing Director of Ashok Leyland.
 
 - Ashok Leyland forms an `automotive electronics group' within its
 Product Development Division, to explore technologies for developing
 Euro-3 and Euro-4 compliant engines.
 
 -Ashok Leyland Ltd has informed  that the Board  approved:1. Mr S R
 Krishnaswamy, Executive Director, LIC has been appointed as Nominee
 Director of LIC in the place of Mr P A Balasubramanian.2. Mr Matta
 Luigi of IVECO Spa, Italy has been appointed as an alternate Director
 to Mr R Sorce.
 
 -Ashok Leyland Ltd has informed that the following changes have 

 taken place in the composition of the BOD w.e.f. October 25, 2002: 1)
 Mr. R Sorce has 

 ceased to be Director of the company. 2) Mr. Marco Bianchi has been
 appointed as a 

 Director. 3) Mr. Matta Luigi who was hitherto Alternate Director to
 Mr. R Sorce has been 

 appointed as Alternate Director to Mr. Marco Bianchi. 4) Mr. B D
 Punjabi who was hitherto 

 Alternate Director to Mr. A K Das has been appointed as Alternate
 Director to Mr. F 

 Sahami. 5) Mr. I N Chatterjee has been appointed as an Alternate
 Director to Mr. A K Das.
 
 2003
 
 -Leyland has reported a 70% increase in its sales.
 
 -Ashok Leyland set to increase 'Hino' engine platform through
 in-house product 
 development, to deliver higher horsepower in tune with improving road
 infrastructure.
 
 -Ashok Leyland Ltd has supplied 25 buses to Afghanistan Which is a
 part of 
 Indian Government's Assistance to the war-ravaged Afghanistan.
 
 -Mr.Arun Pande has been appointed as Executive Director - Marketing.
 
 -Leyland bagged  million truck supply contract from the United
 Nations.
 
 -Ashok Leyland launhes fuel-efficient Hino H series engine
 
 -D G Hinduja has elected as Vice Chairman.
 
 2004
 
 -Arun Pande resigns from Ashok Leyland
 
 -Ashok Leyland unveils new range of buses and trucks in a bid
 
 -launches Ecomet, a light commercial vehicle, in the Andhra Pradesh
 market
 
 -Ashok Leyland's Hosur unit bags CII's awards in safety, health and
 environment
 
 -Ashok Leyland Ltd (ALL) and Indian Oil Corporation (IOC) have joined
 hands to offer freight management services across the country
 
 -  Ashok Leyland Ltd signs a collaboration agreement with ZF of
 Germany for local manufacturing of ZF's 9-speed synchromesh gearbox.
 
 -Wipro Infotech has signed up with Ashok Leyland for strategic cost
 reduction
 
 -Partners with IIT-B to train employees
 
 -ALL unveils Funbus for underprivileged kids
 
 - Ashok Leyland Limited chooses product suite of MatrixOne India,
 subsidiary of Scandent Solutions Corporation Ltd, to provide an
 end-to-end PLM (Product Lifecycle Management) solution for the
 company.
 
 -Ashok Leyland Ltd receives BS7799 certification for information
 security management system
 
 2005
 
 -Ashok Leyland rolls out 'H' series multi-axle vehicle
 
 -Gulf Oil, Ashok Leyland unveils co-branded oils
 
 2006
 
 -Ashok Leyland gets ISO/TS 16949 corporate certification
 
 - Ashok Leyland has unveiled its 20-ft extra loading vehicle Comet
 1611
 
 -Ashok Leyland forges alliance with French firm
 
 2007
 
 -Ashok Leyland, on June 22, has named Rajive Saharia as the new
 executive director-marketing of the company.
 
 - Ashok Leyland, Siemens VDO signs agreement to set up joint
 venture.
 
 -Ashok Leyland Ltd has signed a Heads of Agreement with Nissan Motor
 Co. Ltd, Japan for development, manufacture and marketing of LCV
 products.