1965 - The Company was incorporated on 31st December, at Nasik. It
was promoted by Anjani Kumar Company Pvt. Ltd. The main
objective of the company is to Manufacture forged hand tools
as various types of screw drivers, punches and chisels, nail
pullers, adjustable wrenches, liers and sockets.
1966 - 3,000 No. of equity shares issued to collaborators without
payment in cash. 20,000 No. of equity shares issued to
directors, etc. 22,000 No. of equity shares and 15,000 Pref.
share redeemable at the Company's option during 15th January
1980/83 at 3 months' notice.
1976 - A collaboration agreement with Autie bologet Bahco, Sweden,
secured by the promoters Anjani Kumar Co. Pvt. Ltd. was
transfered to the company. The collaboration agreement came
an end on 31st March.
1982 - The Company diversified its activities to manufacture of
for the automotive industry.
1983 - Rate of dividend on Pref. shares raised 13.5% and redemption
extended 15th January 1986.
1985 - The Company fully implemented the measures suggested under
rehabilitation and modernisation scheme.
1986 - The Company was declared a sick unit. A rehabilitation and
modernisation programme was chalked out which envisged a new
investment reduction in the share capital of the Company and
write off of some of the existing liabilities.
- The rehabilitation scheme, inter alia, envisaged reduction in
share capital of the company in the following manner:
- (i) 45,000 No. of equity shares of Rs. 100 each aggregating
Rs. 45,00,000 be reduced by 50%;
- (ii) 5,84,000 No. of equity shares of Rs. 10 each aggregating
Rs. 58,40,000 be reduced by 25%; and
- (iii) 15,000 - 13.5% preference shares of Rs. 100 each
aggregating Rs. 15,00,000 be reduced by 25%.
- The date of redemption of preference shares was extended to
1990 - Preference shares redeemed, 2,50,000 No. of equity shares of
10 each allotted at par to promoters.
1991 - Equity shares subdivided. 2,25,000 shares allotted.
1994 - With a view to expansion, the Company proposed to buy a plot
land at Goa for setting up plants.
- 13,69,500 Rights Equity shares issued in propn. 3:2. Another
2,50,000 shares offered to Promoters and employees of
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