Ranjeev Alloys Limited (hereinafter referred to as the `Company') was
incorporated on 12th October, 1990 as a Private Limited Company under
the Companies Act,1956 and was converted into a Public Limited Company
vide fresh certificate of incorporation consequent on change of name
issued by the Registrar of Companies, Kanpur on 16th November,1992,
to carry on the activities as detailed in the main objects of the
Memorandum of Association of the Company under the caption `Main
Objects of the Company.'
Ranjeev Alloys Ltd. is in the process of setting up the proposed unit
and has yet to commence the commercial production. As on date it has
not transacted any commercial operations. The company is presently in
process of setting up steel furnace and continuous casting machine for
producing ingots, billets with an installed capacity of 22800 M.T. per
annum based on 3 shift per day and 300 working days per annum basis.
The product will mainly be used by rolling mill owners for re-rolling
purposes to manufacture flats,angles, rounds, L.T.Iron square, Steel
Strips, Bars, Skelp etc. However as mentioned elsewhere in the
prospectus the entire production of this until will be consumed by
the sister concern Modern Steel Industries.
The industry pertain to key sector on which whole development of the
country is based. Hence it is likely to grow with the growth in the
civilisation/industrialisation resulting in the growth in
construction activities. Moreover there is no Billet manufacturing
unit in the near vicinity while number of re-rolling mills are
therein Ghaziabad, Meerut, Muzaffar Nagar and more are coming up.
Implementation of the project is in progress. As on 31.10.1994 the
company has already purchased the land and constructed the boundary
wall. The site development work has started. The construction of
main shed as started. The company has placed orders for critical
plant and has also identified supplier of other plant and
miscellaneous fixed assets. The power load of 3500 K.V.A. has been
sanctioned by UPSEB.
The company has also applied for the sanction of working capital
limits with Oriental Bank of Commerce, Wright Ganj., Ghaziabad. The
application of the company has been submitted to U.P.P.C.B. for
obtaining the N.O.C., regarding water and air pollution which is
under consideration. The critical areas in this industry are the
availability of Power and Raw Materials.
The company will make arrangement for regular supply of power by
Installing D.G. Sets. The provision of which has already been taken
in the project.
PRESENT BUSINESS OF THE COMPANY
The Company is at present involved in setting up the facilities to
manufacture M.S. Billets with an installed capacity of 22800 MT per
annum at Village Morta 25 K.M. Delhi Meerut Road,Ghzaziabad.