1948 - The was incorporated as a private company on 23rd December,
converted into a public company on 27th September, 1960. The
main objective of the company manufacture and dealers in
Distempers, Varnishes, Printing Inks, Colours, Enamel,
etc. The company uses the trade name KANGAROO.
1959 - The Company finalised negotiations with Hempel's Marine
Denmark, and in January 1960 entered into an agreement with
Office Pour Le Financement due to Commerce et de 1`
who were the owners of the sole rights for Hempel's Marine
1961 - Government approved the Company's plans for the manufacture
penstock and pipe paints with the help of the collaborators.
- 45,000 shares reserved and allotted to directors, etc.
1,500 shares allotted in 1960). 75,000 shares offered to the
1962 - Rs. 2.50 per share called up in 1962 and 1967. 950 shares
forfeited in 1969 and forfeitdure of 300 shares annulled
1966 - The company has entered into an agreement with the
Hempel's Marine Paints, Denmark for the supply by the Company
reports on research and investigation made by the Company in
1969 - The relevant research and investigation reports were forwarded
- The Company taken measures to set up a new project at
Umbrekhambewadi village, dist. Raigad, Maharashtra.
1976 - 74,675 bonus shares issued in prop. 1:2. 650 forfeited
re-allotted at par.
1977 - 74,675 rights shares offered at par in prop. 1:3. 650
shares also offered at par. Only 70,845 shares taken up of
which 60,820 shares allotted.
1979 - Out of the 1977 rights issue, 10,025 shares allotted to
residents. 4,480 shares not taken up allotted to others.
1983 - 30,000 No. of equity shares issued at par to I.C.H. Industrial
Commercial Holdings A/s. Denmark (Nominees of Collaborators)
effect from 30th November 1981.
1985 - The Company's lands and buildings, other than additions
during the year, were revalued as on 5th September. The
resultant surplus was credited to revlauation reserve.
- 99,000 bonus shares issued in prop. 3:10.
1986 - During February, in order to raise long-term resources, the
company issued 50,000 - 15% secured redeemable
debentures of Rs. 100 each at par. Of these 42,900
were offered as rights to equity shareholders in the ratio of
debenture: 10 shares held. The remaining 7,100 debentures
reserved for allotment on private placement basis to business
associates and others.
- 3,21,000 shares issued at par. (2,14,500 shares as rights in
prop. 1:2, 37,500 shares to UTI, 37,500 shares to
Indians and 31,500 shares to directors and business
Out of the 3,21,000 shares issued, 2,56,931 shares were
on 12th June, and 64,069 shares on 17th March 1987.
1990 - 7,50,000 rights equity shares allotted at par in prop. 1:1
(7,24,088 shares taken up). The unsubscribed 25,912 shares
the rights offer allotted otherwise.
1991 - With effect from 18th January, the name of the company was
changed from Bombay Paints and Allied Products, Ltd. to the
1992 - Turnover was increased, despite government's fiscal policy,
transporter's strike which crippled the movement of raw
and finished goods, disturbed conditions faced by Mumbai
December to April 1993.
1993 - The performance of the Company was adversely affected due to
severe financial constraints and low utilisation of financial