Century Enka

YEAR                                                           
 EVENTS
 1965 - The Company was incorporated on 17th November, at Calcutta. 
 It manufacture 
              nylon and other man-made fibres and fabrics.  Nylon yarn
 is marketed in India 
              under the trade mark ENKALON.
 
           - The Company has entered into collaboration with AKU and
 Glazstoff.  Another 
              agreement was entered with N.V. Onderzoekings Institute
 Research, Arnhem 
               (N.V. Research) for granting license to manufacture and
 sell nylon-6 textile 
               and technical yarns and all other varieties thereof
 under their patent rights.
 
 1967 - The Company issued 1,34,000 No. of equity shares to directors,
 etc. and 
              47,250 No. of equity shares to collaborators, 68,750 No.
 Equity and 50,000 Pref. 
              shares offered to public in April 1967.  Arrears: Rs
 1,09,875.
 
 1974 - In June, 1,25,000 bonus equity shares issued in prop. 1:2.
 
 1975 - The Company received a letter of intent for the manufacture of
 1,700 tonnes of 
              engineering plastic polymer resins per annum.
 
 1976 - 46,875 Right equity shares issued (prop. 1:4; Prem. Rs 90) to
 resident Indians 
              shareholders other than promoters.
 
 1977 - 1,05,469 bonus equity shares issued in prop. 1:4.
 
 1980 - 2,63,672 Bonus Equity shares in prop. 1:2.
 
 1981 - A letter of intent was received to manufacture of 2,200 tonnes
 per annum of nylon 
              industrial yarn and tyre cord.  The electrical
 distribution system was also modernised
              to cut down distribution losses and for better
 flexibility.
 
           - Letters of intent were in hand for the manufacture of
 1,700 tonnes per annum of tyre 
              cord fabrics and for expanding the capacity of nylon and
 polyester industrial yarns 
              and tyre cord to the extent of 12,000 tonnes per annum.
 
            - 50,000 - 9 1/2% Pref. shares redeemed.
 
 1982 - 10,000 - 13 1/2% Pref. shares issued.  These Pref. shares
 redeemable during 
              31.12.1989/92 in 4 equal instalments.  Rate of Pref.
 dividend increased to 15% from 
              16.5.1984.
 
 1983 - Some of the financial institutions in India and FMO of Holand
 agreed to grant the 
              necessary foreign exchange for importing the capital
 goods for the expansion of 
              nylon yarn capacity from 4,000 to 6,000 tonnes per
 annum.
 
           - The industrial licence for polyester filament yarn which
 was 1,500 tonnes per annum
              was re-endorsed as 6,450 tonnes per annum.
 
 1984 - 3,95,508 bonus shares issued in the prop. 1:2.  Of these,
 3,591 shares allotted after 
             30.9.1985.
 
 1985 - Permission was received to expand further the capacity of
 nylon plant from 6,000 to 
             12,000 tonnes per annum and that of polyester filament
 yarn from 6,450 to 15,000 
              tonnes per annum.
 
 1986 - The Company obtained import licences and approval for basic
 engineering, for the 
              expansion of the polyester plant.  The Agreement in
 principle was reached with the
              collaborators, for manufacture of certain speciality
 chemicals, in technical collaboration 
              with their group company Akzo Chemic.
 
           - Approval was received for import of the State-of-the-art
 integrated process technology 
             for production of nylon industrial yarn/tyre cord and
 this technology was incorporated in 
             the planning and design of the final phase of expansion.
 
           - 5,00,000-14% non-convertible debentures of Rs 100 each
 (Series III) were issued to 
             financial institutions on private placement basis.
 
 1987 - During the first quarter of the year, the new texturising
 facilities were commissioned and 
              during the second half of the year twisting machines
 were commissioned.
 
           - The Company received industrial licences and letters of
 intent for a total broad banded 
              capacity of 39,000 TPA of synthetic filament yarn and
 industrial yarns.
 
 1988 - Introduction of new varieties of PET bottles for packaging of
 products such as pesticides
              and high value processed foods met with success.
 
           - The Company privately placed with financial institutions
 13,00,000 - 14% non-convertible 
             debentures (IV Series) of Rs 100 each.
 
          - These are redeemable in five equal annual instalments
 commencing from 21st December,
             1993, at a premium of 5% of the face value of the
 debentures which is payable on 21st 
             December, 1995.
 
           - 4,74,610 bonus equity shares issued in prop. 2:5.  40,000
 - 14% Pref. shares were issued.  
             These Pref. shares are redeemable during 12.8.1995-98.
 
 1989 - In order to augment the long term resources, the Company
 issued on private placement 
             basis 14% non-convertible redeemable debentures (V
 Series) worth Rs 5 crores.  These
             debentures are redeemable in three instalments commencing
 from 19th April, 1996.
 
           - The first instalment of 2,500 - 15% redeemable cumulative
 Pref.  shares redeemed on 
             31st December 1989.
 
 1991 - Profitability was adversely affected due to increase in the
 cost of raw materials, hike in 
             excise duty and unremunerative prices.
 
           - The Company issued 10,00,000-17.5% secured redeemable
 non-convertible debentures
             of Rs 100 each (Series VI) on private placement basis to
 (i) Unit Trust of India; (ii) Life 
             Insurance Corporation of India and (iii) General
 Insurance Corporation of India and its 
             subsidiary companies.
 
          - The third instalment of 2,500-15% redeemable cumulative
 Pref.  shares redeemed on 
             31.12.1991.
 
          - The diversification scheme for production of polyester
 industrial yarn was rescheduled 
            due to various reasons including delay in shipments of
 equipment and changes in 
            financial conditions.
 
 1992 - The Company received necessary approvals for expansion of
 polyester filament yarn 
              plant at Mahad.
 
           - With the necessary approvals from Government having
 received, all capital jobs in 
              progress, assets and liabilities, licences, agreements
 and commitments entered by the
              Company for the project for production of polymerisation
 initiators and alkyl esters were 
              handed over to a new company, viz., Centak Chemicals,
 Ltd.
 
          - The final instalment of 2,500-15% redeemable cumulative
 Pref. shares redeemed on 
             31.12.1992.
 
 1994 - There was prolonged lock-out at Pune from 6th August. 
 However, the lock out was lifted 
              with effect from 1st November and an amicable settlement
 was arrived at.
 
           - Polyester filament yarn off take was affected due to
 serious floods in Surat and outbreak 
             of plague in September/October.
 
          - Automobile sector emerged out of recession leading to
 increased demand for tyres, the 
             lock-out denied the company of the advantage.  Volume of
 business in engineering 
             plastics also remained stagnant.
 
          - Negotiations were concluded with foreign and domestic
 suppliers for major items of 
            machinery and equipment for the scheme of expansion of
 polyester filament yarn at 
            Mahad.
 
         - The Company issued 10,00,000-13.5% Non-Convertible
 Debentures series (vii) of 
            Rs 100 each on private placement basis with a bank.  There
 are redeemable in 3 
            instalments commencing from 23rd December 1997.
 
 1996 - Equipment for after treatment facilities and for supply of
 flat yarn on Jambo beams 
              was commissioned.  Expansion of Nylon tyreCord Fabric
 Capacity by 5400 TPA 
              was being envisaged.
 
 1997 - During the year Rajashree Polyfil Ltd., was amalgamated with
 the Company with 
             effect from 1st April, to create the country's second
 largest synthetics textile major 
             after Reliance Industries and Indo-Rama Synthetics.
           - 67,50,000 No. of equity shares of Rs 10 each of the
 company were issued and allotted 
             to the shareholders of erstwhile Rajashree Polyfil Ltd.
 on 4th May, in the ratio of one 
             equity share of the Company for every 20 equity shares of
 Rajashree Polyfil Ltd.
             Authorised capital increased.  Equity capital sub-divided
 into equity shares of 
             Rs 10 each.
 
          - Century Enka holds 25 per cent stake in Rajashree, while
 18 per cent is held by 
             Swedish major, Akzo Nobel and the rest is with financial
 institutions and public.
 
          - CEL will have an installed capacity to manufacture nearly
 60,000 tpa of polyester yarn. 
             The merged CEL will have facilities to manufacture both
 commodity yarns and 
             speciality yarns, and also PET chips with diverse
 application.
 
 1998 - Century Enka Ltd has cut back almost one-third of its
 production of polyester, owing 
              to an over-supply situation in the market and severe
 pressure on margins.  The 
              B.K.Birla group company has shut down one batch
 processing unit of the three 
              BPUs at its site in Maharashtra, thus slashing
 production to around 1,200 tonnes 
              per month.
 
            - 67,50,000 No. of equity shares at par issued pursuant to
 scheme of amalgamation.
 
 1999 - DSM Engineering Plastics BV has acquired the engineering
 plastics business of 
              Century Enka Limited and established its subsidiary DSM
 Engineering Plastics 
              (India) Pvt Ltd.
 
 2000 - Crisil has assigned a P1+ rating to the certificate of deposit
 and CP programme of 
              the company.
 
           - Acordis Overseas Investment BV, one of the promoters of
 Century Enka Ltd, 
              has decided to acquire 9.2 million equity shares Rs 10
 each of the company.
 
 2001 - Akzo Nobel Chemicals International BV has entered into
 agreements dated
              February 14 with the company and Century Tex and Inds
 Ltd. to acquire their entire
              shareholding of 9,30,1000 No. of Equity Shares in Centak
 Chemicals Ltd., subject to
              necessary approvals.
 
 2003
 
 -Pune Stock Exchange approves for the delisting of the company's
 Equity shares
 
 2004
 
 -Delists shares from  Delhi Stock Exchange Association Limited
 
 2005
 
 - Polyester Partially Oriented Yarn (POY) capacity expansion at
 Bharuch Site by converting company's surplus Polyester Chips capacity
 has been materialised and the commercial production has started from
 April 19, 2005.
 
 2007
 
 - Century Enka Ltd has informed that Mr. G M Singhvi has been
 appointed as Whole - time Director of the Company with effect from
 16th May, 2007, by the Board of Directors in its meeting held on 3rd
 May, 2007.