Tata Chemicals

1939
 
 - The Company was Incorporated on 23rd January, at Mumbai.  The
 Company
 Manufacture salt, by-products of salt, alkalies, heavy chemicals and
 insecticides and flux technical and battery grades.
 
 - 37,000 equity shares issued without payment in cash.
 
 1978
 
 - The expansion of Soda Ash capacity from 3,60,000 to 5,00,000
 tonnes
 per annum was completed.
 
 1982
 
 - The Company proposed to take up production of phosphatic
 fertilizer
 through its wholly-owned subsidiary, Tata Fertilisers, Ltd. at a
 complex planned to be set up at Babrala in U.P.  The Company
 subscribed
 to an initial amount of Rs 30 crores in the shares capital of Tata
 Fertilisers, Ltd.
 
 - 30,00,000 equity shares (prem. Rs 10 per share) and 36 shares
 (prem.
 Rs 2 per share) allotted to 13.5% and 10.5% convertible bond holders
 respectively.
 
 1983
 
 - The Company issued 13.5% secured rights convertible bonds of Rs
 100
 each aggregating Rs 30 crores.  Out of this, Rs 26.27 crores were
 issued to equity shareholders in the proportion of one bond for
 every
 four equity shares held and the balance of Rs 3.73 crores was issued
 to
 employees, associates, friends, preference shareholders and deposit
 holders.  An amount of Rs 20 per bond was compulsorily and
 automatically convertible into one equity share on 1.11.1983.  The
 portion of Rs 40 each are redeemable at the end of 10 years. 
 However,
 these bond holders were given the right to apply for one equity
 share
 for every part of Rs 40 upon payment of Rs 40 in cash separately
 during
 1st November, 1984 and 30th April, 1988.
 
 - The Company formed a 100% investment subsidiary, with a paid-up
 capital of Rs 20 lakhs, in the name and style of General Investment
 &
 Trading Company Private Ltd.
 
 1984
 
 - The Company made a rights issue of 15% non-convertible debentures
 of
 the face value of Rs 35 crores to meet a part of the capital
 expenditure on various schemes of modernisation and rehabilition. 
 The
 issue was oversubscribed and the CCI accorded consent for the
 Company
 to retain a further amount of Rs 17.5 crores.  These are redeemable
 in
 three annual instalments commencing 9th May, 1992.
 
 - The holders of 29,73,268 bonds of Rs 80 each applied for 59,46,536
 equity shares.  Out of these 18,69,739 shares were allotted with
 effect
 from 1st January, 1985 and the remaining 40,76,797 shares were
 allotted
 on 1st April, 1985.  By appropriating the sale proceeds of `B' and
 `C'
 portions of these convertible bonds or receiving share amount and
 premium, the following equity shares were allotted at a premium of
 Rs
 30 per shares: (i) 4,014 shares during 1986-87; (ii) 3,162 shares on
 10th April, 1987; (iii) 1,141 shares on 1st July, 1987, (iv) 474
 shares
 on 1st October, 1987 and (v) 790 shares on 1st January, 1988.
 
 1985
 
 - The Company also issued 15% non-convertible debentures aggregating
 Rs
 10 crores to the Unit Trust of India.  These are redeemable at a
 premium of 5% on 19th August, 1992.  The date of redemption was
 extented for a further period of 7 years at an enhanced rate of 19%
 per
 annum.
 
 - 40,76,797 Equity shares (prem. Rs 30 per share) allotted to 13.5%
 convertible bondholders.  77,69,096 bonus equity shares then issued
 in
 prop. 2:5.
 
 1986
 
 - Rehabilitation and upgradation of this unit was in progress.  It
 continued to cater to the needs of expansion, modernisation and
 replacement programmes of the chemical complex at Mithapur.
 
 - The Company cancelled 59,970-7.14% cumulative (non-redeemable)
 preference shares and in lieu thereof allotted 15% secured
 redeemable
 non-convertible bonds of Rs 100 each at par.  These bonds would be
 redeemable at par on 27.1.1999.
 
 - Pref. shares cancelled by issuing 15% bonds in lieu. 4,014 equity
 shares allotted against `B' & C' Parts of 13.5% convertible bonds
 (prem. Rs 30 per share) by receiving shares amount and prem. or
 through
 sale proceeds.
 
 - The name was changed to Sabras Investment and Trading Co. Ltd.
 
 1987
 
 - Effective from 31st March, the Company ceased to be a subsidiary
 consequent upon an issue on a private and preferential basis of the
 equity and cumulative convertible preference (ccp) shares of the
 face
 value of Rs 13.70 crores to the shareholders of the Company.
 
 - The Company issued 72,50,000-13.5% convertible debentures of the
 face
 value of Rs 100 each for cash at par aggregating of the face value
 of
 Rs 100 each for cash at par aggregating to Rs 72.50 crores.  Of
 this,
 debenture worth Rs 67.97 crores were issued to the shareholders on
 rights basis in the proportion of 1 debenture for every 4 equity
 shares
 held, Rs 3.40 crores to the employees (including working directors)
 and
 Rs 1.13 crores to NRI's.  Including the retention of
 oversubscription
 the following debentures were allotted; (i) 84,96,250 debentures to
 shareholders; (ii) 3,64,035 debentures to employees including Indian
 working directors and (iii) 1,41,250 debentures to NRI's.
 
 - An amount of Rs 40 out of the face value of each debenture of Rs
 100
 was automatically converted into 1 equity share of Rs 10 each at a
 premium of Rs 30 per share effective from 1st April.  Accordingly
 90,01,535 equity shares were issued to the holders of 13.5%
 debentures.
 The holders of the balance Rs 60 portion were given option to seek
 for
 allotment of 1 equity share at a premium of Rs 50 per share on
 payment
 of cash between 1st October 1987 to 31st March 1998.  Also, from 1st
 October 1987 upto the date of redemption (end of the 7 year period),
 the Company reserved to itself the right to repurchase at its
 discretion, the non-convertible portion of Rs 60 of the face value
 of
 each debenture.  By appropriating these sale proceeds of `B' portion
 of
 these convertible debenture or by receiving share amount and
 premium,
 the Company allotted 83,43,700 equity shares on 1st April 1988 and
 3,58,381 equity shares on 25th October, 1988.
 
 - On the 22nd May, a Memorandam of Understanding was signed between
 Indian Oil Corporation Ltd., the Government and the Company for
 promotion of a joint venture Company under the name and style of
 `Tata-Indian Oil Refineries Ltd.
 
 1988
 
 - The Steam power plant unit continued to perform fully well meeting
 the stream requirement of the chemical complex, except for the
 outage
 of one 13-MW turbo-generator causing power shortage for 4 months.
 
 - The Process Equipment unit was substantially upgraded and
 reorganized
 and received approvals under `IBR' and Lloyds.  The Process
 Equipment
 unit undertakes sophisticated fabrication job and manufactures
 heavy,
 sophisticated process equipment.
 
 - As at 31st March, Tata Chemicals had accounted for Rs 52 crores in
 the CCP and Rs 8 crores in the equity shares of the Company.  A
 Scheme
 of Amalgamation of Tata Fertilisers, Ltd. with the Company was
 approved
 by the Mumbai High Court on 7th September 1989.
 
 - The Research and Development unit is oriented towards process
 improvement, project development, waste utilisation and
 environmental
 control, supporting production activities.
 
 1989
 
 - The Process Equipment division undertook equipment design and
 preparatory work to take up substantial fabrication of the
 fertiliser
 plant being set up at Babrala.
 
 - The Company issued 15,00,000-14% non-convertible debentures of Rs
 100
 each on private placement basis to financial institutions.  These
 are
 redeemable at a premium of 5% on 26th October, 1996.
 
 - The Company proposed to offer financial managerial and technical
 participation in the Rs 3,000 crore Haldia Petrochemicals Complex
 (HPL), a huge green-field project.  West Bengal Industries
 Development
 Corporation and Tata Tea, Ltd. and its associates are the joint
 sector
 partners in the said complex.
 
 - 42,49,864 shares allotted without payment in cash to members of
 Tata
 Fertilisers, Ltd. on its merger.
 
 1990
 
 - The Company achieved self sufficiency in its requirements of
 Kurkutch
 salt-a basic raw material required for the production of a wide
 range
 of products.  During the year, the Company proposed to introduce
 low-priced, high quality iodised Kurkutch salt.
 
 - At the end of March, a new BHEL low-pressure turbo-generator was
 commissioned.  The low-pressure turbo generator and the topper
 turbine
 suffered major prolonged outages.
 
 - The Company signed the contract for supply of natural gas to the
 fertiliser project at Babrala with the Gas Authority of India, Ltd.
 The implementation of the project remained slow due to non receipt
 of
 Deemed Export Status despite several appeals made to the Finance
 Ministry and the long delay experienced in the receipt of bulk
 import
 licence.
 
 - DGTD registration was received for the manufacture of 1,50,000 TPA
 of
 unadulterated environmentally safe detergent materials.
 
 - The Company undertaken to set up a cement plant at the existing
 chemical complex at Mithapur having a capacity of about 2,50,000 TPA
 of
 ordinary portland cement or 4,40,000 TPA of Pozzolana Portland
 cement.
 Budgetary offers for a wholly indigenous plant having a 900 TPD
 capacity was received and an application was made for an industrial
 licence.
 
 - The Company offered 125,00,000 - 12.5% partly convertible
 debentures
 (PCDs) of Rs 150 each on Rights basis in the proportion 1 PCD: 6
 equity
 shares held (all were taken up).  Additional 18,75,000 debentures
 were
 allotted to retain oversubcription.  Another 6,25,000-12.5% PCDs
 were
 issued to employees of the Company (including Indian working
 Directors)/workers on an equitable basis.  (All were taken up).
 
 - Rs. 50 (Part `A') of the face value of each debenture was to be
 automatically and compulsorily converted into one equity share of Rs
 10
 each at a premium of Rs 40 per share on 1st August 1992. 
 Accordingly
 150,00,000 equity shares were allotted.
 
 - Rs. 50 (Part `B') of the face value of each debenture was to be
 automatically and compulsorily converted into one equity share of Rs
 10
 each.  Accordingly 150,00,000 equity shares were allotted for cash
 at
 par during 1992-93.  The remaining Rs. 50 of the face value of each
 debenture was to be redeemed at the end of 10 years from the date of
 allotment of the debentures with an option to the Company to redeem
 the
 same in whole or in parts at any time after 7 years from the date of
 allotment along with the residual portion, if any, of part `B'
 above.
 
 - The Company also offered 123,00,000 - 14% non-convertible
 debentures
 (NCD) of Rs 100 each on Rights basis in the proportion 1 NCD:6
 equity
 shares held (all were taken up).  These debentures were to be
 redeemed
 on expiry of 7 years from the date of allotment of debentures at a
 premium of 5% of 10th January, 1998.
 
 - The Company issued 46,00,000 - 12.5% Partly Convertible Debentures
 (PCDs) of Rs 175 each of which the following debentures were
 reserved
 for allotment on a preferential basis: (i) 22,00,000 PCDs to
 shareholders of the Company (all were taken up) and (ii) 2,30,000
 PCDs
 to employees (including working directors)/workers on an equitable
 basis (only 275 debentures taken up).  The balance 21,70,000 PCDs,
 along with 2,29,725 PCDs not taken up by employees, were offered for
 public subscription (all were taken up).
 
 - Rs 50 (Part `A') of the face value of each debenture was to be
 automatically and compulsorily converted into 1 equity share of Rs.
 10
 each at a premium of Rs 40 per share.  Accordingly 46,00,000 equity
 shares were allotted on 1st August 1992.
 
 - Rs 50 (Part `B') of the face value of each debenture was to be
 automatically and compulsorily converted into 1 equity share of Rs
 10
 each at the end of 30 months from the date of allotment of
 debentures.
 Accordingly 46,00,000 equity shares were allotted during 1992-93.
 
 - Rs 75 of the face value of each debenture was to be redeemed at
 par
 at the end of the 10 years from the date of allotment of debentures
 with an option to the Company to redeem the same in whole or in
 parts
 at any time after 7 years from the date of allotment, along with
 residual portion, if any, of part `B' above.
 
 - 245,84,279 bonus shares allotted on 1.10.1990 in prop. 1:2.
 
 1991
 
 
 - A major replacement job was undertaken at CEHP boiler No. 1 which
 was
 completed in a record time of 15 days.
 
 - During 1991-92, it was proposed to give consent to the termination
 of
 MOU and leave IOC had expressed the desire to do so despite the
 withdrawal of the Soviets and substantial cost escalations.
 
 - The last quarter of 1991, hurdles such as grant of deemed export
 house status for the indigenous manufactures, allocation of foreign
 exchange etc., were resolved.
 
 1992
 
 - During the year, a modern circo-fluid high pressure boiler having
 a
 capacity of 200 TPH steam and a 16 MWT lopping turbo generator set
 together form a co-generation systems were being installed.  The
 Company commission the circo-fluid boiler and 16 MW topping turbo
 generator by 1994.
 
 - The Company proposed to add a new circulating fluidised bed
 boilder
 and topper turbine to the stream power plant for generation of
 additional steam and power.
 
 1993
 
 - Rs 320 crores Mithapur Vikas Plan project made headway with the
 construction of new boiler and turbine.  Equipments were being added
 in
 a phased manner to the soda ash plant and production capacity is
 started to increase from 7 lakh TPA to 10 lakh TPA over the next 33
 years.
 
 1994
 
 - The fertiliser project at Babrala commissioned in December.
 
 - The Company entered into a sales agreement with Rallis India Ltd.
 for distribution and sales of urea from Babrala to Punjab, Haryana,
 U.P. and Rajasthan.
 
 1995
 
 - A new Circo Fluid boiler and a new 16.5 MW turbo generator set was
 commissioned.  However, the steam-power position remained below
 expectation due to the teething problems in the initial stages and a
 fire which damaged the turbine's casing.
 
 - The testing of the new boiler and turbine were started during
 March,
 and the co-generation of power plant was commissioned in May.
 Equipments were added to the soda ash plant to increase production
 capacity to one million tonnes per year.
 
 - In order to meet increasing demand of Urea, the company proposed
 to
 double the production capacity of Fertiliser complex at Babrala.
 
 - 67,771,703 bonus equity shares allotted in prop. 3:5.
 
 1996
 
 - The gradual increase in soda ash capacity to one million tonnes
 per
 year was continuing.  The installation of a new Dense ash plant and
 the
 expansion of the Sodium Bicarbonate was expected to be commissioned
 by
 September 1997.
 
 1997
 
 - Tata salt recorded a market share of 32% in the branded, iodized
 salt
 market maintaining a Company leadership position.
 
 - 40 Tata Kisan Kendras were being set up to provide a complete
 package
 of agricultural inputs and impart knowledge and training of improved
 farm practices to farmers.
 
 - Tata Chemicals Ltd (TCL) has shelved its expansion project of
 setting
 up another urea plant with a capacity of 7.26 lakh tonnes per annum
 adjacent to its existing unit.
 
 - Tata Chemicals may buy-out the loss-making new fertiliser plant of
 Sanderson Industries Ltd in Jamshedpur, which sources coke-oven
 waste
 from Tisco as its base raw material.
 
 1998
 
 - Tata Chemicals has decided to double its cement capacity to
 8,00,000
 per annum from 4,00,000 tpa at an investment of Rs.300 crore, to
 increase capacity of soda ash from 7.5 lakh tpa to 8.5 lakh tpa at a
 cost of Rs.40 crore and to foray into importing and marketing of
 Liquified Natural Gas (LNG) along with a consortium of Indian
 fertiliser companies.
 
 - The company is diversifying into power generation by generating
 wind
 energy at its 37,000 acre site at Mithapur in Gujarat.
 
 - The company has proposed amendments in its articles of association
 for share buyback, issuing of shares without voting rights,
 dematerialisation of securities and introduction of employee's stock
 option scheme.
 
 - 86,320 shares forfeited.
 
 1999
 
 - The company's very recent launch is `Rakshak' detergent powder
 which
 is currently available at an introductory price of Rs 19 per kg as
 against the maximum retail price of Rs 22.  The launch of Rakshak
 follows the quiet entry of `Shudh' detergent powder, which was
 launched
 a year ago, and is currently priced at Rs 36 for the same volume.
 
 2000
 
 - The board of directors has approved a proposal to merge with the
 company's wholly-owned subsidiary, Sabras Investments and Trading
 Co.
 Ltd.
 
 - Prasad R. Menon has been appointed as a new Managing Director of
 the
 company.
 
 - Tata Chemicals Ltd. will be merging investment subsidiary Sabras
 Investment & Trading Co. Ltd. with itself.
 
 - Tata Chemicals president R K Kaul has decided to step down from
 the
 helm of the company, effective 15th October.
 
 - Fertiliser major Tata Chemicals has decided to exit its detergents
 business, which has a single brand Shudh, and is in talks with
 potential buyers to sell it.
 
 2001
 
 - Tata Chemicals Ltd is in talks with Gujarat Ambuja Cement for
 selling
 off its cement unit at Mithapur, Gujarat.
 
 - A major fire broke out at the Tata Chemicals Ltd. plant at
 Mithapur
 gutting a portion of the inorganic chemical plant.  The Plant
 resumed
 production on March 24.
 
 2002
 
 - Tata Chemicals Ltd has informed BSE that Mr.Sunil Wadhwa has been
 re-designated as Chief Financial Officer and Company Secretary of
 the
 company.
 
 -Tata Chemicals Ltd has informed BSE that Mr P K Ghose has been
 appointed as Chief Financial Officer of the company with effect from
 November 1, 2002.
 
 -Tata Chemicals Ltd has informed that the Board has taken a note of
 the resignation of Mr Arvind N Lalbhai from the Directorship of the
 Company.
 
 2003
 
 -Tata Chemicals and HLL have cleared an exchange ratio at 2.5:1 for
 amalgamation.
 
 -Tata Chemicals wins  a decade long Rs.400cr tax dispute, with the
 Supreme court
 rejecting the demand of the income-tax department.
 
 -Tata chem has informed that ICRA has assigned LAA+ rating  to the
 company's 
 proposed Rs.1250million Non-Convertible Debenture Programme.
 
 -Tata Chemicals has availed of  million ECB at an interest rate
 100 basis points
 above the London Inter Bank Offer Rate(LIBOR) for three years.
 
 
 2004
 
 -Tata Chemicals picks up gas from Petronet LNG
 
 -Tata Chemicals Ltd has appointed Mr Homi Khusrokhan as an Executive
 Director of the company
 
 - The merger of Hind Lever Chemicals Ltd with Tata Chemicals Ltd came
 into effect on June 1. Consequent to the orders of the High Court of
 Judicature, Mumbai, and the High Court of Punjab & Haryana,
 sanctioning the Scheme of Amalgamation of Hind Lever Chemicals with
 Tata Chemicals, Hind Lever Chemicals has merged with Tata Chemicals,
 effective from June 1, 2004.
 
 2005
 
 -Tata Chemicals launches 'Tata Kisan Sansar' in West Bengal and
 Jharkhand
 
 2006
 
 -Tata Chemicals picks up ICMA excellence award
 
 -Tata Chemicals Ltd on October 13, 2006 has announced the appointment
 of Mr. Homi Khusrokhan as Managing Director with effect from October
 16, 2006.
 
 - Tata Chemicals Ltd. has informed that Mr. Prasad R. Menon has been
 appointed as an additional director on the Board of the Company, with
 effect from October 30, 2006. Mr. Prasad R.
 -Tata Chemicals Ltd has appointed Mr. Prasad R Menon as an Additional
 Director on the Board of the Company,