The Company was incorporated on 31st January 1979, at Delhi. The
company was promoted by Jain Brothers.The company's object is to
manufacture of writing and printing paper marketed under the brand
1980 - 900 shares subscribed for by the signatories to the
of Association, 5,03,100 shares taken up by promoters, etc.
(including 64,000 shares allotted to Jain Tube Co. Ltd.) and
2,00,000 shares allotted to UPSIDC.
1981 - 11,46,000 shares issued at par: 36,000 shares reserved for
allotment to Jain Tube Co. Ltd. and 11,10,000 shares offered
public subscription during December 1980.
1988 - The company with a view to expand its paper manufacturing
capacity to 23,000 TPD from the present 16,200 TPD, proposed
purchase fixed assets of Krishna Paper Mills (a unit of
Ltd., which was laying closed and was taken up by PICUP) from
- The Company came under the provision of the Sick Industrial
Companies (Sp. Provisions) Act 1985 and a reference was made
the Board for Industrial and Financial Reconstruction (BIFR).
1989 - The Company undertook a project to set up a plant for
of light weight poster paper with the installed capacity of
- 55,000 pref. and 1,10,000 No. of equity shares privately
Pref. shares redeemable at the end of 8 years from the
1990 - The improved results were due to higher production, effective
cost and input controls and better market realisation.
- MG paper machine with an installed capacity of 3,300 tonnes
- 2,90,000 No. of equity shares allotted through private
1991 - Profits were lower due to phenomenal increase in the cost of
inputs and depressed market conditions.
1992 - Profits continued to be affected due to overall increase in
cost of all inputs and stagnant demand on account of deep
- 7,35,550 No. of equity shares allotted to financial
on conversion of loans.
1993 - In order to strengthen operational base, the company proposed
diversify into the manufacturing of sugar and allied
Also proposed to manufacture caustic soda and allied products
also to manufacture sock and knitted fabrics.
1995 - The company undertook a scheme of expansion of capacity by
Light Weight Paper Manufacturing Machine.
- The company installed and commissioned 3 D.G. sets of 1250 KVA
each to generate its own power to the extent of its
- 4,48,500 No. of equity shares issued on conversion of term
to financial institutions. 14,92,779 No. of equity shares
allotted (prem. Rs.30 per share) to the shareholders on right
basis in the ratio of 1:2.
1996 - The company has undertaken modernisation of MF paper plant
other auxillary components. The company installed 4 DG sets
the 5th was under instalation.
1997 - 6 nos. of D.G. sets of 1250 KVA each were installed and
- To manufacture more of own pulp and higher grammage of paper
having better market and higher realisation, the Company
prepared a scheme for installation of balancing equipment.
pulping area under the balancing scheme was in an advanced
1998 - The matter of take over of Krishna Paper Mills was still
on account of litigation initiated by its promoters against
PICUP and the company.