1968 - The Company was Incorporated on 20th January, as a private
limited company under the name Paper Machine Wire Industries
Ltd., and commenced business immediately thereafter. It was
converted into a public limited company on 24th October,
- The Company's object is to manufacture (a) Fourdrinier wire
for paper industry, (b) Industrial screens for paper pulp,
asbestos, textile and electrical industries both in ferrous
non-ferrous metals and (c) Speciality papers such as
condenser tissue paper, cable insulating paper, glassine
metallising tissue paper, carbonising, cigarette overlay
and other low gsm special grade M.F. paper.
1981 - 5,500 bonus shares issued in prop. 1:2 in 1978-79. Equity
of Rs.100 each subdivided on 13th May, 1980.
1982 - With effect from 15th April, the name of the Company was
to Pamwi Speciality and Tissue Paper Ltd.
- The Company undertook to set up a project for the manufacture
speciality paper at Barotiwala in Solan district of Himachal
Pradesh, a Centrally notified backward area. A consultancy
agreement was entered into with a consortium of foreign
technicians comprising M/s. K.W. Kent, D. Holdoroft and A.
The Company imported 3 second hand paper making plants of
Britannia Paper Ltd., U.K. 2 of the 3 paper making plants went
into production in May 1983.
- 26,00,000 shares issued at par to the public in December.
Arrears not known.
1985 - Forfeiture on 31,650 shares annulled.
1986 - The Company came under the provisions of the Sick Industrial
Companies (Sp. Provisions) Act, 1985 and a reference was made
the Board for Industrial and Financial Reconstruction (BIFR).
- Forfeiture on 50 shares annulled.
1989 - The Company's name was changed from Pamwi Speciality and
Papers Ltd., to Pamwi Tissues Ltd.
- Consequent to the sale of the wire cloth unit at Nasik, the
Company proposed to transfer the Registered office of the
from Maharashtra to Himachal Pradesh where the Company's
speciality paper manufacturing unit is situated.
- Forfeiture on 200 shares annulled.
1990 - As per Development Consultants Ltd's (DCL) recommendation,
machine with larger capacity was shut down in December
in lesser cash loss. However, poor power situation and use
second hand equipment nullified DCL's package.
1991 - ICICI was hence appointed as a new operating agency and as per
its report BIFR formed a prima facie opinion on 16th
that the company may not be viable.
- The Company, further, submitted a report proposing to give on
lease, the manufacturing facilities of the Company. ICICI
asked to submit further clarification and submit additional
report on the Company. As per the rehabilitation scheme
the sole manufacturing activity of speciality paper of the
Company situated at Industrial Estate, Barotiwala was given
lease for a period of 9 years to SWIL Ltd. effective from 1st
- As on 2nd January, the Company Law Board gave its approval
shifting of the registered office.