Tata Tea

1962
 
 - The Company was incorporated on 18th October, as a private limited
 company and was converted into a public limited company on 8th May,
 1963.  The Company Cultivates tea, coffee, cardamom, etc.,
 plantations
 and manufacturing, selling and exporting instant tea and blended and
 packeted teas.  It has a factory at Munnar (Kerala) for the
 manufacture
 of instant tea and blending and packaging factories at Bangalore
 (Karnataka) and Naine, Allahabad (U.P.).
 
 - The Company was set up in technical and financial collaboration
 with
 James Finlay & Co. Ltd., Glasgow, U.K.  The technical and financial
 collaboration agreement expired on 1971.
 
 1968
 
 - The Company's operations were adversely affected by heavy
 development
 expenses incurred towards marketing and production of instant tea by
 the green leaf process, a hitherto untried commercial process but
 one
 with immense possibilities.
 
 1971
 
 - 50,000 shares in May 1863 were issued, and 94,00 shares, Rs 87.50
 per
 shares paid-up, in Dec. 1963.  6,000 shares issued without payment
 in
 cash in Oct. 1964.
 
 1976
 
 - The ownership structure of some of the Finlay Tea Associates was
 reorganised with the effect that The Amalgamated Tea Estates Co. 
 Ltd.,
 became a wholly owned subsidiary of James Finlay while the
 Consolidated
 Tea and Lands Co. (India) Ltd.  The Anglo American Direct Tea
 Trading
 Co. Ltd., became wholly owned subsidiaries of McLeod Russel & Co.,
 Ltd.
 The Kannan Devan Hills Produce Co.  Ltd., were owned in equal shares
 by
 James Finlay and McLeod Russel & Co. Ltd.
 
 1977
 
 - The allotment to the Finlay Tea Associates by the Company of Rs
 19,80,000 No. of equity shares of Rs 10 each at par credited as
 fully
 paid-up and the balance amount of Rs 9.52 crores was retained as
 unsecured loans carrying simple interest at the rate of 5% per annum
 from 1st January, 1976.
 
 - 26,00,000 shares offered at par to the public during June.
 
 1979
 
 - 20,00,000 Bonus shares issued in prop. 1:3.
 
 1982
 
 - James Finlay and McLeod Russel sold all their equity holdings to
 Tata
 Industries Ltd., on 1st December.  Tata Industries in turn, offered
 the
 entire lot of 3.2 million shares at par to the present Indian
 shareholders of the Company in the proportion 2:3.
 
 - Upon the Change in the Shareholding of the Company, the name of
 the
 Company was changed from Tata-Finlay Ltd., to Tata Tea Ltd.
 
 1984
 
 - The Company formed a 100% subsidiary investment company under the
 name and style of Bambino Investment and Trading Co. (Pvt.) Ltd.
 
 - The Company issued and allotted 10,00,000-15% non-convertible
 debenture of Rs 100 each on rights basis.  These debentures are
 redeemable at a premium of 5% on 31st March 1992.  The redemption
 date
 was extended and the debentureholders were given the option to
 receive
 redemption proceeds on 31st March 1992 or extent upto 31st March
 1999
 at the rate of interest of 17.5%.
 
 1986
 
 - The Company Incorporated was established in the U.S.A., as a 100%
 subsidiary of the Company by acquiring the instant tea processing
 facilities of Tritea Incorporated, Florida, U.S.A.
 
 - 42,05,130 shares allotted in conversion of 13.5% debs. (25,23,078
 share on 1.7.1986 at par and 16,82,052 shares on 1.7.1987 prem.  Rs
 25
 per share).
 
 1988
 
 - The Company had been acting as agents in Mumbai, Calcutta and
 Delhi
 for P & O Containers Ltd. (P&OCL), a foreign shipping line.  During
 the
 year P&OCL expressed its desire to control its own agency affairs in
 India.  An agreement was reached with P&OCL to transfer the shopping
 agency affairs to a new company floated by them with effect from 1st
 October, 1989.
 
 - 48,82,052 Bonus shares issued in prop. 2:5.
 
 1989
 
 - During the year, a new blend under the name of `Prestige' was
 launched.  The Company started a buttom mushrooms production plant
 in
 Kerala.
 
 - On 20th October, Tata Tea Ltd. with a view to acquire majority
 holding made an offer to purchase CCL's equity shares held by its
 resident Indian shareholders (80%).  For every 2 equity shares of
 CCL
 of the face value of Rs 10 each, TTL offered 1 of its equity share
 of
 the face value of Rs 10/- plus a sum of Rs 100 in cash.  As per this
 scheme, till the end of February 1991, 19,92,573 No. of equity
 shares
 of TTL were allotted to resident Indian shareholders of CCL.  Share
 upto a maximum of 22,902 may have have to issued to those whose
 certificates reached/yet to reach TTL thus total not exceeding
 20,15,475 shares.
 
 1990
 
 - The new unit Tata Spices Centre set up at Cochin, in the previous
 year and exporting non-traditional products such as prices, cashew
 and
 marine products also contributed to the improved performance.  A new
 brand of polypack Brahmaputra was launched, containing a blend of
 Assam teas and there were well received in the market.
 
 - The Company privately placed with financial institutions 14%
 non-convertible debentures of Rs 15 crores.  These debentures are
 redeemable at a premium of 5% on 17.9.1997.
 
 - During the year, a range of flavoured teas were developed which
 were
 being produced on a commercial scale both for domestic and exports
 market.  Other products developed were decaffeinated black tea and
 instant tea, organic tea and medicinal oils.
 
 - Consolidated Coffee Ltd. alongwith its 100% subsidiaries, namely
 Veerarajendra Estates Ltd. and Conscofe Investments Ltd., became
 subsidiaries of the Company.
 
 - In the Development of Haldia Petrochemical Complex at Haldia, Rs
 3,000 crores joint venture, W. Bengal Government through its
 Industrial
 Development Corporation was to hold 26% of the share capital and the
 Company with its associates was to hold 24.99% in the capital.  A
 letter of intent was received on 10th August.
 
 - Tata tea have been growing medicinal plants with a view to seeking
 entry into Ayurvedic medicines.  Rallis India, Ltd. (RIL) are the
 leaders in agrochenmicals and pharmaceuticals which are also used by
 the plantation industry.
 
 1991
 
 - A higher production was marred by the estates in the south being
 affected first by frost and thereafter by severe drought conditions
 that persisted till April 1992.  A new premium dust brand Chakra
 Gold
 was launched.
 
 - A new branch for the Lloyd's agency was set up at Kathmandu and
 the
 operations of the NYK line business and Lloyds agency were revamped.
 
 - The Company proposed to expand the capacity at Munnar tea
 plantation
 to over million lbs. per year.  The Company proposed to set up a new
 instant tea plant with a capacity of 3 million lbs of instant tea
 powder.
 
 - The Company set up a pilot plant at Munnar for the production of
 Button Mushrooms and commenced test marketing the produce.  A Spice
 Processing Centre in Cochin and a Medicinal & Aromatic Plant
 Processing
 Centre in Munnar were being set up based on experiments in the R&D
 Department.
 
 - The Company proposed to establish a wholly-owned subsidiary Tata
 Tea
 International, Ltd., in Jersey, Channel Islands, U.K.  mainly to
 invest in the shares capital of joint venture companies to be set up
 in
 a number of foreign markets.  A joint venture was set up in Sri
 Lanka
 called Estate Management Services (Pvt.) Ltd., for managing 18 tea
 and
 rubber estates in Sri Lanka that were now open to private management
 by
 virtue of privatisation process initiated by Sri Lanka Government.
 
 - The Company entered into an agreement with the State Trading
 Organisation of Iran to set up a joint venture in Iran to assist in
 upgrading the tea manufacturing base of Iran, modernise its
 processing
 facilities, set up packaging plant and jointly market its brands of
 tea
 in Iran.
 
 1992
 
 - International business division was established to consolidate
 export
 operations and to provide forays into foreign operations.  The
 Division
 proposed to press ahead with its innovative methods of selling Tea
 to
 Russa, Uzbekistan & Kazakhasthan.
 
 - The Company established another joint venture company namely Tata
 Tetley Ltd. with Lyons Tetley of U.K. with a share capital of Rs 10
 crores held equally by the company and Lyons Tetley.
 
 - The Company proposed to set up a joint venture Company on equal
 shareholding basis with Krasnodar Tea Company & its associates, in
 the
 name of Tata Krasnodar Industries Ltd.
 
 - The Company proposed to establish an Indo-Japanese Joint venture
 in
 the name of Tata NYK Transport Systems, Ltd.
 
 - In August, the Company made an open offer to the shareholders of
 Rallis India Ltd. for the purchase of upto 29,94,995 equity shares
 of
 Rallies India representing upto 24.99% of the voting capital.
 
 - The Company received offer for only 24.52% and accordingly
 allotted
 19,59,142 No. of Equity shares of Rs 10 each of the Company as fully
 paid up to the shareholders of Rallies India
 
 1993
 
 - It was proposed to instal state-of-the-art facilities to increase
 production and also incorporate an advanced and environment friendly
 technologies.
 
 - The Company has reorganised its capital structure in terms of a
 Scheme of Arrangement under Section 391 of the Companies Act, 1956
 sanctioned by the High Court of Mumbai on 1st September, 1976. 
 Prior
 to reorganisation the total paid-up equity capital of the Company
 was
 Rs 1,38,25,000 of which 49.42% was held by James Finlay, The
 Consolidated Tea and Lands Co. Ltd., West Nile Holdings Ltd., Teith
 Holdings Ltd. and Cessnock Holdings Ltd.
 
 1994
 
 - The Company entered into a joint venture with Hitachi Ltd., Japan,
 for setting up a joint venture in Japan.  Necessary approvals were
 received to increase the Company's stake in Asian Coffee Ltd. (ACL)
 to
 55%.
 
 - 157,79,173 bonus equity shares issued in proportion 1:1.
 
 1995
 
 - 12,84,338 shares were allotted in exchange for 64,21,687 No. of
 equity shares of Asian Coffee Ltd. through as per offer.
 
 - The Company introduced polpacks in the South and North and which
 were
 well received by the segments.
 
 1996
 
 - In view of the 50 years of independence, the company jointly with
 consolidated coffee limited launched a synergetic scheme under the
 banner Pride of India attracting 1.1 million direct consumers.
 
 1997
 
 - The Tata Tea Ltd. its subsidiary company Consolidated Coffee Ltd
 will
 mark the golden jubilee year of independence of launching Pride of
 India celebrations from 15th January.
 
 - Tata Tea Ltd., which was the first company to introduce 100 per
 cent
 instant tea into the United States, is today the world's largest
 exporter of instant tea to western countries with a 15 per cent
 share
 in the US market.
 
 - The US operations are handled by Tata Tea Incorporation, a 100 per
 cent subsidiary of Tata Tea in Florida, set up in 1984 to touch up
 the
 product manufactured in India.
 
 - While Tata's is among the largest production capacities in the
 business at five million pounds, four other Indian companies
 contribute
 to the Indian exports Nestle, Tetlay, Lipton and Goodricke.
 
 - Tata Tea, one of the largest tea manufacturing companies in the
 world.
 
 - Recently, the company had entered a partnership with a Sri Lankan
 tea
 company to acquire tea gardens in the island nation.
 
 - The subsidiaries of the group are consolidated Coffee Ltd., Asian
 Coffee Ltd., Tata Tea Inc, Tata Tetley Ltd., Tata Hitachi, Tata NYK
 and
 Tata Marine.
 
 - Tata Tea Limited has launched its popular brand, Tata Tea Premium
 in
 the twin-cities of Hyderabad and Secunderabad on Dec.  23, more than
 one year after its launch in the neighbouring state of Karnataka.
 
 - Tata Tea Ltd. is all set to explore the Pakistan market during
 January next, in a move to further consolidate its position as one
 of
 the global tea major.
 
 1998
 
 - Tata Tea is the largest integrated tea company in the world with
 53
 estates spread over 24,500 hectares in Assam, W Bengal, Tamil Nadu
 and
 Kerala.
 
 - The 49:51 joint venture between Tata Tea and Estate Management
 Service Private Limited of Sri Lanka has proved eminently
 successful.
 
 - The Indian tea magnet, Tata Tea Ltd. is all set to consolidate its
 coffee subsidiaries by merging three units Consolidated Coffee,
 Asian
 Coffee and Veerarajendra Estates.
 
 - Tata Tea has entered into another joint venture with Lyons Tetley
 to
 export value-added tea bags and tea packets.
 
 - The company launched a new brand `Agni' in the economy sector
 aimed
 at the loose tea consumers and was well received in the market.
 
 1999
 
 - Tata Tea Ltd (TTL), the country's second largest tea company with
 the
 highest number of gardens having an annual production of 64 million
 kg.
 
 - The Tatas have a joint venture with the Tetley group in India, Two
 of
 Tata Tea's subsidiaries-Consolidated Coffee and Asian Coffee-are
 major
 players in the Asian market, and will now spearhead the group's
 expansion in the coffee business.
 
 - Tata Tea's current joint venture with Tetley would cease to
 operate
 and in all probability be merged with the larger group.
 
 - Another New brand `Lucky Cup' a premium dust variety tea was
 launched
 in selected South Indian states during February.
 
 2000
 
 - The Company will issue 75,98,000 GDSs at a price of US.87 per
 GDS
 which is equivalent to Rs 430 per GDS.
 
 - The Company alongwith its wholly owned subsidiary, Tata Tea Inc. 
 USA
 and the present shareholders of the Tetley Group of UK have signed
 an
 agreement in London for the acquisition of 100% of the shareholding
 of
 the Tetley Group.
 
 - In March, the company acquired through a subsidiary company the
 entire shareholding of the Tetley Group Ltd., UK which has made the
 company a significant player in the global tea industry.
 
 - The Company issued 75,98,000 Global Depository Shares at a price
 of
 US$ 9.87 per GDS which was fully subscribed.
 
 - The Company and Rabobank International are jointly conducting
 roadshows in Mumbai and London to syndicate the Dollar 165m of
 senior
 debt facilities that has been raised to fund the acquisition of the
 Tetley group.
 
 - The Company holds 60 million shares of Tata Tea (GB) Ltd.
 representing 85.7% of the paid-up share capital of Tata Tea (GB)
 Ltd.
 and the balance 14.3% is held by the company's wholly owned
 subsidiary
 Tata Tea Inc.
 
 - The Company has proposed to introduce an employees' stock option
 scheme (ESOS).
 
 - Tata Tea Ltd has drawn up plans to market packet tea under the
 newly-acquired Tetley brand in India, West Asia, the Confederation
 of
 Independent States and Russia.
 
 - T Siganporia is to takeover as the Tata Tea managing director of
 the
 company.
 
 2001
 
 - Former Glaxo India Managing Director Homi R Khusrokhan will take
 charge as the new managing director of Tata Tea.
 
 2002
 
 -Tata Tea's acquisition of Tetley Group is turning out to be a
 success and the Tatas feel 'comfortable with the acquisition'. Tetley
 has performed extremely well in the last fiscal. It is now number one
 in the UK.
 
 -Tata Tea appoints consultancy firm BCG to guide on integration
 process with Tetley.
 
 -Tata Tea relaunched Chakra Gold, its brand of premium dust tea in
 southern markets
 with improved flavour and aroma.
 
 2003
 
 -Tata Tea will bifurcate plantation business from branded tea
 business and set them as 
 2 separate stategiv business units.
 
 - Mr U M Rao has ceased to be nominee director of General Insurance
 Corporation of India Ltd. Appointment of Mr UM Rao as an additional
 non-executive director of the company
 
 -Tata Tea Ltd. appoints Deutsche Bank as the Depository
 
 2004
 
 -The Chennai-based FAL Industries has seen Tata Tea making an exit
 from it. Tata Tea had a 5.3 per cent stake in FAL. On February 6, it
 sold off its holding of 2,41,659 shares through off-market spot
 deals.
 
 -Sets up country's first-ever tea museum at Nullathanni Estate in
 Munnar
 
 -Tata tea rolls out 'Select Finest Assam' tea in UAE
 
 -Tata Tea has appointed Sangeeta Talwar as the executive director of
 the company
 
 2005
 
 -Tata Tea launches new brand `Tata Tea Agni'.
 
 2007
 
 -Tata Tea Ltd has informed that Mr. V Venkiteswaran, Executive
 Director of the Company has ceased to be Director of the Company with
 effect from January 01, 2007.
 
 -Tata Tea Ltd on May 08, 2007 has entered into a Joint Venture
 agreement with Zhejiang Tea Import and Export Company Ltd of People's
 Republic of China.
 
 -Tata Tea has appointed Mr. A R Gandhi as a Non-Wholetime Director of
 the Company with immediate effect.
 
 - Tata Tea acquires 25.74% in Mt Everest.