YEAR                                                      EVENTS
 1985 - The Company was incorporated on 18th October, at Gujarat, and
        obtained the Certificate of Commencement of business on 8th
        November.  It was promoted by R.K. Jatia and R.G.N. Swamy, a
        non-resident Indian.  The main objective of the company is to
        manufacture Ceramic glazed wall and floor tiles.
 
      - The company undertook to set up a plant for the manufacture
 of
        20,000 tonnes per annum of ceramic floor and wall tiles.  Main
 
        plant and machinery were to be imported from Italy and the
        Company was to use the double deck roller hearth kiln
 technology
        which is well proven for single firing and fast firing
        technology.
 
      - An agreement for technological and technical collaboration
 was
        entered into between the Company and Societa Impianti
        Termoelettrici Industriali SPA, Italy (SITI).  Technical
 drawings
        technology relating to fast firing and single firing roller
        hearth kilns with LPG and/or natural gas as fuel including
        technical documentation thereof apart from provision of
 extensive
        training for company's personnel with SITI and deputing
 ceramic 
        technologists to the company.
 
      - Another agreement was signed on 17th November, for technical
        assistance in erection and commissioning of ceramic floor and
        wall tiles project.
 
 1988 - The company entered into an agreement with M/s. Bitossi
        Dianella SPA of Italy for manufacture of frits, glazes and 
        procurement of allied technologies.
 
      - 10,007 shares issued to promoters, etc. (including 5,200
 shares 
        to NRI R.G.N. Swamy).  53,99,993 shares then issued at par of
        which the following shares were reserved and allotted on a
 firm
        basis:
 
      - (i) 19,10,000 shares to JBS Investments Pte. Ltd., Singapore
        on repatriation basis;
 
      - (ii) 2,44,800 shares to NRI R.G.N. Swamy on repatriation
 basis
        and
 
      - (iii) 5,95,193 shares to Indian promoters, directors etc.
 
      - Another 2,71,000 shares reserved for preferential allotment
 to
        employees but only 1,400 shares taken up.
 
      - The balance 23,79,000 shares, along with 2,69,600 shares not
        taken up by employees, offered to the public in January (all
        were taken up).  Subsequently 32,600 shares forfeited.
 
 1989 - The Company undertook a project to expand the installed
 capacity
        from 20,000 times per annum to 35,000 tonnes per annum.
 
      - Another project was also taken up to establish a plant for the
 
        manufacture of frits, glazes and stains in collaboration with
        Bitossi Dianella S.P.A. of Italy.
 
      - Forfeiture on 29,400 shares annuled.
 
 1990 - The overall working improved due to concentration on value
 added
        and high quality products, constant endeavour in R & D
 activities
        and wide range of varieties and designs the Company could
 offer.
 
 1991 - During November-December the company offered 13,52,500 No. of
        equity shares of Rs. 10 each at a premium of Rs. 4 per share
 on
        Rights basis in the proportion 1:4.
 
      - Simultaneously another 67,600 No. of equity shares of Rs. 10
 each
        at a premium of Rs. 4 per share was issued to employees under
 the
        Stock Option Scheme (only 3,200 shares taken up)
 unsubscribed.
 
      - The object of the issue was to raise funds to part finance
        the expansion project.
 
 1992 - It was proposed to expand the capacity further to 60,000 TPA.
 
 1993 - During February-March the company offered 8,30,000-16%
 secured
        partly convertible debenture of Rs. 60 each on rights basis
 in
        the proportion 1 debenture : 5 equity shares held (all were
 taken
        up).
 
      - Another 2,00,000 debentures were reserved for preferential
        allotment to Indian promoters of the company (all were taken
 up).
 
      - 31,250 debentures were also issued to the employees on an
        equitable basis (none were taken up and were allowed to
 lapse).
 
      - 46,191 debentures were allotted to IDBI as per requirement
 made
        by the Company to IDBI.  Rs. 30 of the face value of each
        debenture was to be automatically and compuslorily converted
        into 1 equity share of Rs. 10 each at a premium of Rs. 20 per
        share on the date of allotment of debentures.  Rs. 30 of the
 face
        value of each debenture was to be redeemed in two equal
 annual
        instalments of Rs. 15 each on the expiry of 5th and 6th year
        from the date of allotment of debentures.
 
      - Simultaneous to the debenture issue the company also issued
        7,03,825 No. of equity shares of Rs. 10 each for cash at a
        premium of Rs. 20 per share of which 5,50,000 shares to NRI
        shareholders on rights basis in proportion 1:5 (only 5,49,820
        shares taken up).
 
      - Another 1,53,825 shares to NRI promoters of the company to
 enable
        them to maintain their percentage holding in the paid-up
 equity
        capital of the company at 39.87%.
 
      - Company has following subsidiaries M/s. Zirchem Industries
        (Mumbai) Ltd., Bell Trachem Ceramics Ltd. & Bell
 International
        Pte. Ltd., Singapore.
 
      - 17,33,470 shares issued on conversion of debentures and right
        issue of shares to NRIs.
 
 1994 - The Company proposed to install a project to manufacture
 ceramic
        glazed floor and wall tiles with the installed capacity of
 55000
        TPA at Karnataka.
 
      - It was also proposed to install facilities to manufacture
 ceramic
        glazed wall tiles to the extent of 20,000 TPA and to upgrade
 and
        modernise the existing plant at Gujarat to convert it into a
 wall
        tie plant in a phased manner.
 
 1995 - 1,29,19,855 rights shares of Rs. 10 each (prem. of Rs. 12.50)
        per share allotted on 30.11.1995 in the prop. 15 equity
 shares
        for 10 existing equity shares held.
 
 1996 - A Project to manufacture ceramic glazed floor tiles with
              installed capacity of 55,000 MT was undertaken.
 
 2000 
 
 -The Company will expand its capacities at its two units, namely Dora
 near Baroda and Hoskote near Bangalore.
 
 2006
 
 -Bell Ceramics Ltd has appointed Shri Ramesh Jatia as Vice Chairman
 of the Company.