Jindal Steel & Power

1998 
 
 - The name of the Company has been changed from Orbit Strips Ltd. to
 Jindal Steel & Power Ltd. on 12th June.
 
 1999 
 
 - Shri O.P. Jindal, Shri Ratan Jindal and Shri M.L. Gupta were
 appointed as Additional Directors of the Company in terms of Section
 260 of the Companies Act, 1956 and Article 117 of Articles of
 Association of the Company.
 
 - Shri M.L. Gupta, appointed as Whole time Director of the Company
 w.e.f. 1st May for a period of five years.
 
 - The Company has joined the Depository System and its securities
 can
 be dematerialised.
 
 - The Raigarh and Raipur Divisions of Jindal Strips Limited have
 been
 hived off to JINDAL STEEL & POWER LIMITED pursuant to the Scheme of
 Arrangement approved by Hon'ble High Court of Punjab and Haryana.
 
 - The Company has issued 14% 60,00,000 Cumulative Redeemable
 Preference
 Shares of Rs. 100/- each aggregating to Rs. 60 crores on private
 placement basis.
 
 - The Steel Melting Shop of the Company, was shut down in May'98 due
 to
 the explosion. It was commissioned in Oct '99.
 
 2000 
 
 - The company raised 10.5% Redeemable Cumulative Non-Convertible
 Preference Shares aggregating to Rs 10 crores, on private placement
 basis.
 
 - Naveen Jindal-controlled Jindal Steel & Power Ltd (JSPL), today
 announced the launch of another company Infovergix Technologies
 Ltd.,
 which will provide information technology services and solutions.
 
 - The Company has issued 14% 20,00,000 Cumulative Redeemable
 Non-Convertible Preference Shares of Rs. 100/- each aggregating to
 Rs.20 Crores on private Placement basis.
 
 - Round Caster Unit set up in Raigarh has been commissioned in the
 month of May and has started producing Rounds which is a import
 substitution product.
 
 - The Company has entered into an agreement with Maharashtra
 Seamless
 Ltd.  for selling 50,000 MT of Rounds annually for next 5 years at a
 competitive price.
  
 - The Company has launched Fixed Deposit Schemes in the month of
 February, which has received tremendous response form the public.
 
 - The Company launched Infovergix Technologies, marking the foray of
 one more old economy company into the infotech sector.
 
 2001 
 
 - The Company is setting up a Coal Washery of 2.5 million MT
 capacity
 at the coal mine to meet the additional requirement of coal fo rhte
 Sponge Iron Plant.
 
 - The Company has introduced a new value added product, Alloy Steel
 Rounds, suitable for manufacture of seamless tubes.
 
 - Jindal Steel and Power Ltd has signed a memorandum of
 understanding
 (MOU) with the Chattisgarh government to invest Rs.6,400 crore in
 various projects in the state over the next seven years.
 
 2002
 
 -Jindal Steel & Power Ltd has informed that the Board of Directors 
 appointed Shri M L Gupta as Wholetime Director of the company wef
 December 23, 2002 in place of Shri S N Singh who has resigned from
 the Directorship of the company from November 15, 2002.
 
 2003
 
 -Jindal Steel & Power, a OP Jindal Group has converted Rs.200cr of
 debt to Foreign 
 currency loan.
 
 -JSP has posted a net profit of Rs. 144.9 million as compared to Rs.
 263.7 million for
 the same period last year.
 
 -Jindal Steel & Power Ltd. has informed that The Delhi Stock Exchange
 Association Ltd, (DSE) and The Stock Exchange Ahmedabad (ASE) have
 communicated their approval regarding delisting of securities from
 their stock exchange.
 
 2004
 
 -Jindal Steel & Power Ltd. has appointed Mr. Sushil K Maroo as
 Wholetime Director of the company from May 20, 2004
 
 2005
 
 -Jindal Steel & Power signs MOU with Government of Chhattisgarh on
 January 07, 2005
 
 -Jindal Steel signs MoU with Jharkand Government on July 05, 2005
 
 -Jindal Steel inks agreement with S. African, German cos for coal
 gasification facility at its proposed six-million-tonne steel plant
 in Orissa
 
 2006
 
 -Bolivia inks JV deal with Jindal for El Mutun development
 
 -Jindal Steel & Power Ltd has appointed Shri. Suresh Baid as an
 Additional Director (independent) on the Board of the Company.
 
 2007
 
 -Jindal Steel & Power Ltd has has appointed Shri A K Purwar, former
 Chairman, State Bank of India as an Independent Director on the Board
 of the Company with immediate effect.
 
 - Jindal Steel & Power Ltd has informed that the Board of Directors
 of the Company has (by circulation) appointed Shri. Ram Vinay Shahi
 as Additional Director (Independent) and member of the Audit
 Committee of Directors with effect from October 15, 2007.