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Singer India
BSE: 505729|NSE: SINGER|ISIN: INE638A01027|SECTOR: Trading
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Company History - Singer India
YEAR                       EVENTS
 1977 - The company was Incorporated on 19th October, mainly for
        acquiring the business and undertaking of the Indian branch
 and
        it obtained the Certificate of Commencement of Business on
 13th
        March, 1978.  The main objects of the Company is marketing of
        household and artisan sewing machine, sewing machine
 cabinets,
        tables and stands, needles, knitting machines and replacement
        parts and components.
 
      - The company was allowed to carry on its business in India
 with
        the Indian Branch be converted into an Indian Company in
 which
        the non-resident interest should not exceed 40%.
 
 1980 - In terms of the Scheme of Amalgamation approved by the Mumbai
        High Court, the business and undertaking of the Indian branch
        became vested in the Company with effect from 1st January.
        Pursuant to the Scheme, the Company allotted 8,00,000 fully
 paid
        equity shares at par to The Singer Company, U.S.A., as
        consideration.
 
 1981 - In terms of an agreement dated 10th July, The Singer Co.,
 U.S.A.,
        would make available to the Company technical assistance
 hitherto
        available to the Indian branch free of any fee or royalty.
 
      - By an agreement dated 10th July, The Singer Co., U.S.A.,
        appointed the Company as Registered user of its trade mark in
        India.
 
      - The Company received a letter dated 9th April, from The
 Singer
        Co., U.S.A., to the effect that it would maintain its
 commercial
        relations with the Company and would provide technical,
        managerial and training support and that the Company would
        continue, with certain statutory exceptions, to be the sole
        entity in India through which Singer Organisation would
 supply
        their sewing machines and allied products.
 
      - 7 shares subscribed for by the signatories to the Memorandum
 of
        Association and 8,00,000 shares allotted to the Singer Co.,
        U.S.A. without payment in cash.
 
 1982 - 11,99,993 shares issued at par of which 99,993 shares to
 resident
        Indian directors, employees and business associates of the
        Company and 6,00,000 shares to National Small Industries
        Corporation, Ltd. were reserved and allotted.  5,00,000
 shares
        offered to the public in February.
 
 1984 - During April, the Company received a letter of intent for the
        manufacture of 1,00,000 Zig Zag Sewing machines in the State
 of
        Jammu & Kashmir.
 
 1987 - In May, the company had introduced a new automative sewing
        machine, viz. Singer Fashion Maker upon diversification, a
 new
        line of food processor was launched in May 1987.
 
      - As a part of diversification, the company, set up a
 electrical
        appliance division which would market household electrical
        appliances.  A speciality store was started in New Delhi and
        Calcutta to deal exclusively in Kitchen items and one more
 store
        is to be opened at Chennai.
 
 1989 - 20,00,000 bonus equity shares issued in prop. 1:1.
 
 1991 - The Company issued 14% non-convertible debentures for Rs 100
        lakhs to PNB Mutual Fund by way of private placement.  These
        debentures are redeemable at 5% premium after the expiry of 7
        years from the date of allotment.
 
 1993 - 10,60,900 shares of Rs 10 each and 1,56,550 shares to Singer
 VII
        B.U.  The Netherlands and The National Small Industries Co.
 Ltd.
        respectively at a premium of Rs 35 per share.
 
      - The name of the company was changed from Indian Sewing
 Machine
        Company Ltd to Singer India Ltd' effective 3rd May.
 
      - Of the 16,00,000 Equity Shares held by the Singer company,
 U.S.A.
        8,00,000 Shares have been allotted in part consideration for
 the
        transfer of the net assets of the undertaking and business in
        India of Singer Sewing Machine company, U.S.A. in terms of
        amalgamation sanctioned by the Bombay High Court.
 
 1994 - New products like water purifiers, Black & White TVs were
        introduced in the market.
 
      - On 31st January 1995, 26,08,725 shares issued as Bonus shares
 in
        prop. 1:2.
 
 1995 - New products introduced were Washing Machine, Refrigerators,
        Power tools and furniture.
 
      - The Company introduced many new models such as cobra-world
 class
        sewing machine, classic-N and Multipurpose-N-developed
 through
        Company's in-house Research and Development.
 
      - Mahavir Founders & Engineers Ltd., the wholly owned subsidiary
 of
        the Company was amalgamated with the Company effective 1st
 April.
 
      - Singer India Trading Ltd., HIMEC India Ltd. and Mahavir
 Founders
        & Engineers Ltd. are wholly owned subsidiaries of the
 Company.
 
 1996 - The amalgamation of Mahavir Founders & Engineers Limited, the
        whollyowned subsidiary of the Company, with the Company was
        approved by the Delhi High Court on 27th August.
 
 1997 - Sewing products will continue to remain the core business of
 the
        Company.  With the technology available from Singer, the
 Company
        will introduce more versatile models of sewing machines in
 the
        market to gain market share in this segment.
 
      - The Company now operates through 200 retail stores spread
        throughout the country. 
 
      - Singer India has entered into a marketing alliance with Baron
        International, the manufacturer of the leading Japanese
 consumer
        electronics brand Akai in the country.
 
      - Singer is also launching colour televisions under its own
 Singer
        brand name.
 
 1998 - The Company is giving more thrust upon zig-zag sewing
 education
        to promote high end sewing machines which have a substantial
        potential for growth.
 
 1999 - Singer India Ltd is all set to enter the microwave market, as
        part of its strategy to expand its product line in India.
 
      - Introduction of the microwave oven is an expansion and
 extension
        of our existing product range.
 
      - The company has introduced an imported iron and is shortly
 adding
        two state of art models of microwaves in its range.
 
      - The company will be launching two more models of contemporary
        mixer grinders.
 
 2004
 
 -Singer forays into industrial machine segment
 
 
 2005
 
 - Mr K K Gupta was appointed as Manager.
 
 - Mr. Samya Sarkar has joined the Company as a Director and Managing
 Director.
 
 
 2007
 
 - Mr. Theo Noel Renard is appointed as an Additional Director of the
 Company.
 
 
 2008
 
 - Appointed Mr. P N Sharma as the Additional Director of the
 Company.
 
 - Appointed of Mr. Rajiv Bajaj as an Alternate Director.
 
 - Appointed of Mr. P R Nandanan as an Alternate Director.
 
 
 2009
 
 - Appointed Mr. Ajit Kumar as the Additional Director of the Company.
Source : Dion Global Solutions Limited
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