1974 - The Company was incorporated as a private limited company on
May, and converted into a public limited company on 10th
November, 1986. It was promoted by Jal. S. Engineer's family
and their associates. The Company introduced moulded luggage
items under the brand name ARISTOCRAT.
- The main object of the company is to Manufacture moulded
and all kinds of plastic materials.
1981 - The Company Expanded the capacity by starting a second unit
Satara. The third and fourth units were set up a Paithan in
Aurangabad in 1984 and at Waluj in Aurangabad district in
- The Company introduced low priced integrated moulded luggages
under the brand names OSCAR and CHAMPION.
- The Company commenced marketing of soft luggage under the
name ARISTOCRAT ACTION BAGS which received wide acceptance
to its lightness, colour ranges, styling and flexibility.
- In addition to its dealer network of 3,000 retailers in 900
serviced by 29 branches it proposed to market its products
through the wholly owned subsidiary Marvel Plant Pvt. Ltd.
1985 - All shares taken up by promoters, etc.
1986 - 23,998 shares of Rs.100 each issued at par to promoters, etc.
1st October. Shares of Rs.100 each then subdivided into
of Rs.10 each 3,60,000 shares of Rs.10 each then issued at par
promoters, etc., 9,60,000 bonus shares of Rs.10 each issued
prop. 8:7. Simultaneously, 18,00,000 No. of Equity shares of
Rs.10 each were issued at par linked to debentures (prop. 2
debentures to 10 equity shares) out of which the following
linked to debentures were reserved for preferential
- (i) 90,000 shares to employees (including Indian working
directors)/workers of the company (only 27,750 shares taken
36,000 shares to business associates of the company (all were
taken up) and 7,20,000 shares to non-resident Indians on
repatriation basis (only 3,95,400 shares taken up).
- The balance 9,54,000 shares linked to debentures, along with
unsubscribed portion of 3,86,860 shares linked to debentures,
were offered for public subscription during February 1987.
4,50,000 additional shares linked to debentures were allotted
the public to retain oversubscription.
- The Company's losses increased on account of stagnant market
conditions, competition, increase in input costs and paucity
1987 - Aristocrat Marketing Ltd., became a wholly owned subsidiary
the Company. With effect from 14th August, 1990, Aristocrat
Marketing Ltd., ceased to be a subsidiary of the Company.
1992 - Production and sales decreased to 8,37,587 numbers and
crores respectively due to the disturbed conditions and break
down of law and order over the country.
1994 - The Company came under the Sick Industrial Companies Special
Provisions Act and as per BIFR's instruction, a
scheme was prepared by Canara Bank.