YEAR                       EVENTS
 1974 - The company was incorporated on 9th September as a Public
        Limited Company under the name of Hindustan Pipe Udyog
 Limited
        and obtained the certificate of commencement of business on
        21st September.  The Company was promoted by the Jindal group
 of
        Companies.
 
      - The company first set up a unit for manufacture of ERW Steel
        Pipes & Tubes, Black & Galvanised, at Jindal Nagar, District
        Ghaziabad, U.P.
 
 1985 - The company diversified its activities by setting up a unit
 for
        the manufacture of Polypropylene Filament Yarn and Polyester
        Filament Yarn at Gulaothi, U.P. with an installed capacity of
        1200 TPA.  The capacity of this plant was increased to 2400
 TPA
        in 1987, 4800 TPA in 1989, 7800 TPA in 1991 and 10,800 TPA in
        1992.
 
 1990 - The company also took-up modernisation of its Poly plant to
        updated its technology and replace certain old and worn-out
        equipments/components.
 
 1992 - The Company set up a Polycondensation Plant with an installed
        capacity of 15000 TPA of Polyester Chips for captive
 consumption. 
 
 1994 - As consideration for the transfer, the Company was allotted
        75,000 No. of equity shares of Jindal Pipes Ltd. of Rs 100
 each
        at a premium aggregating to Rs 843 lakhs.  The Company
 undertook
        modernisation-cum-expansion balancing scheme for Company's
        existing POY plant at Gulaothi.
 
      - The Company also undertook to diversify into manufacture of
 solid
        state poly condensation chips.  It was also proposed to
 enhance
        the existing POY capacity from 10,800 TPA to 18,000 TPA by
        installing certain balancing equipments and replacement of
 old
        equipments with the latest technology equipments.
 
      - It was also proposed to diversify into manufacture of high
 value
        addition solid state polycondensation chips (SSS) i.e. bottle
        grade, mono-filament grade and film grade by installation of
        additional equipments.  In addition, the Company proposed to
        manufacture of polyester polymer chips suitable for PET
 bottles
        as mono filament yarn.
 
      - For polycondensation, an additional polycondensation plant
 with a
        capacity of 10 tonnes per day was installed.
 
      - Northern Plastic Co. Ltd., in the business of inventing and
        dealing in securities and financing was amalgamated with the
        Company effective 1st December.  As per the amalgamation
 scheme,
        the erstwhile shareholder of Northern Plastics were allotted
        28,88,400 - 6% convertible cumulative preference shares of Rs
 10
        each.
 
      - 81,40,000-6% cumulative preference shares of Rs 10 and
 46,20,000
        No. of equity shares of Rs 10 issued, subscribed and paid up.
        15,50,000 Equity shares were issued at a premium of Rs 185
 per
        share through a prospectus of which 7,500 shares reserved for
        allotment to permanent employees of the Company.  Balance
        15,42,500 shares issued to the public.
 
 1995 - The name of the Company was changed from Jindal Polyester &
 Steel
        Ltd., to Jindal Polyester Ltd. effective 17th January.
 
 1996 - 61,70,000 bonus equity shares issued in prop. 1:1 on 8th
 August.
 
 1997 - The company, the capacity utilisation at the company's grass
 root
        BOPET film project set up at Nasik has been considerably low
        during the year, due to initial stabilisation as well as
        slackness in demand for BOPET film in the international
 market
        resulting in an unabsorbed interest cost of Rs.10 crores and
        depreciation of Rs.8 crores, thereby affecting  overall
        profitability for the year.
 
 1998 - Apart from Reliance Inds., the company is the only stock which
 is
        still above its base value.
 
      - The company was planning the merger of M/s. India Polyfilms
 Ltd.
        and M/s. Patel Polyproducts Ltd. with the company w.e.f. 1st
        April 1999.
 
 1999 - Jindal Polyster Ltd (JPL) is considering to introduce
 Employees
        Stock Option Plan (ESOP).  The company will issue ten lakh
 equity
        shares of nominal values of Rs 10 each to employees,
 including
        executive and non-executive directors.
 
      - The JPL has thus become the second company in the country
 after
        Kinetic Motors Ltd to take advantage of the Securities and
        Exchange Board of India (Sebi) guidelines allowing the
 companies
        to make applicable the scheme of ESOP to its employees.
 
      - The scheme of amalgamation of India Polyfilms Ltd and Patel
        Polyproducts Ltd with the company has been approved by the
 High
        Court of Uttar Pradesh.
 
 2000 - The company has decided to set up a new unit at Noida Export
              Processing Zone for the purpose of processing,
 converting and
              exporting software.
 
            - The company has decided to set up a new unit at Noida
 Export
               Processing Zone for the purpose of processing,
 converting and
               exporting software.
 
            - Issue of 6,60,00,000 Opt. con. pref. shares of Rs 10
 each at a premium
              of Rs 5 each aggregating Rs 5 each aggregating Rs
 99,00,00,000 in favour
              of Jindal Photo Films Ltd. against its loan and
 advances.
 
           - Jindal Polyester Ltd has informed that  Sh. Nvpks. R.
 Murthy, Director (Technical) has                           resigned
 from the Board. Mr. Kedar Anandrao Deshpande has joined the Board as 
                          Director (Technical).
 
 2002 
 
 -Jindal Photo acquires 1,50,00,000 optionally convertible preference
 shares of the company.
 
 -Sh Nvpks R Murthy, Director resigns from the Board.  Mr Kedar
 Anandroa deshpande joins as the Director on the Board of the
 company.
 
 -Appoints Mr Shyam Sunder Jindal as the Additional Director of the
 company.
 
 2003
 
 -Allots 5% optionally convertible preference shares on preferential
 basis to Jindal Photo Films Ltd.
 
 -Board approves to acquire REXOR GROUP.
 
 -Members approve for the following:
 Appointment of Sameer Banerjee as the Director Marketing.
 Increase in Authorised capital from Rs.1580mn to Rs.1900 mn.
 Delisting of company's shares from UP, Delhi, Calcutta and Ahmedabad
 Stock Exchanges.
 
 2004
 
 -Jindal Polyester Ltd has informed that shares of the company have
 been delisted from the following stock exchanges : i) U P Stock
 Exchange w.e.f. January 30, 2004; ii) Delhi Stock Exchange w.e.f.
 February 11, 2004.
 
 2006
 
 -Mr. L. P. Soni, Fellow Member of the Institute of Company
 Secretaries of India, (Membership No. 2213) has been appointed as
 Company Secretary of the Company.