YEAR                       EVENTS
 1974 - The Company was incorporated as a private limited company on
 18th 
        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
 luggage
        and all kinds of plastic materials.
 
 1981 - The Company Expanded the capacity by starting a second unit
 at
        Satara.  The third and fourth units were set up a Paithan in
        Aurangabad in 1984 and at Waluj in Aurangabad district in
 1985
        respectively.
 
      - The Company introduced low priced integrated moulded luggages
 
        under the brand names OSCAR and CHAMPION.
 
      - The Company commenced marketing of soft luggage under the
 brand 
        name ARISTOCRAT ACTION BAGS which received wide acceptance
 due
        to its lightness, colour ranges, styling and flexibility.
 
      - In addition to its dealer network of 3,000 retailers in 900
 towns
        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.
 on
        1st October.  Shares of Rs.100 each then subdivided into
 shares
        of Rs.10 each 3,60,000 shares of Rs.10 each then issued at par
 to
        promoters, etc., 9,60,000 bonus shares of Rs.10 each issued
 in
        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
 shares
        linked to debentures were reserved for preferential
 allotment.
  
      - (i) 90,000 shares to employees (including Indian working
        directors)/workers of the company (only 27,750 shares taken
 up);
        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
 the
        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
 to
        the public to retain oversubscription.
 
      - The Company's losses increased on account of stagnant market
        conditions, competition, increase in input costs and paucity
 of
        working capital.
 
 1987 - Aristocrat Marketing Ltd., became a wholly owned subsidiary
 of
        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
 Rs.33.90 
        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
 rehabilitation
        scheme was prepared by Canara Bank.