Company History - Amalgamated Electricity
1936 - The Company was incorporated at Mumbai. The main objective
the company was manufacture of vegetable oils and deoiled
All shares issued to each.
- The Company was originally formed to generate and distribute
electricity in the Municipal areas of Ajmer, Belgaum,
and other adjoining areas.
1940 - 11,242 Right Equity shares issued at par in proportion 1:6
1947 - 13,758 Right Equity shares issued (Prem. Rs.5 par share in
1948 - 31,250 Right Equity shares issued at par in the proportion
1950 - 31,250 Right Equity shares issued at par.
1951 - 5,400 Pref. (5.5%), 5,000 Pref. (5%) and 2,65,948 No. of
shares allotted to shareholders of Ajmer and Julgon Electric
12,100 Right pref. (5%) and 1,25,052 Right Equity shares
1952 - Unissued 11,250 Pref. (5%) shares and 59,000 No. of Equity
issued at par in prop. 1:51 and 1:10 respectively to both
and Pref. shareholders.
1954 - 12,500 Right Pref. (5.5%) and 1,25,000 Right Equity shares
at par in prop. 1:50 and 1:5 respectively to Equity and/or
1960 - 90,625 Right Equity shares issued in the proportion 1:8
1961 - 84,375 Right Equity shares offered at par in the proportion
Equity. Only 42,698 shares were taken up.
1962 - 2,86,300 Right Equity shares offered at par in prop. 1:3
Shares not taken up were differed to the public in August.
1964 - In February 1965, 25,000-10% Right Pref. shares issued in
1:4 Equity. 18,266 pref. shares not subscribed offered to
public in August 1965.
1971 - 16,135-10% Prof. shares redeemed during the year.
1972 - 8,865 10% Preference shares were redeemed.
1975 - 5.5% Pref. and 5% Pref. shares were converted into 3.3% and
unsecured bonds respectively on 1-7-1975.
1976 - 3,47,064 Bonus Equity shares issued in proportion 1:3 on
1978 - Future Electronics Pvt. Ltd., became a subsidiary of the
1981 - The licences were gradually taken over by various State
Electricity Boards over the years, the last of them being
Electricity Undertaking handed over to Gujarat Electricity
on the mid-night of 9th/10th February.
1983 - The working continued to suffer due to non-availability of
materials and unremunerative selling prices. As a result,
plant could be operated only for about four months. The
hydrogenation unit of the Company remained non-operational
the year due to lack of processing orders at remunerative
1984 - The working results continued to suffer.
1985 - The working results showed reduced losses as compared to the
previous year. The performance of the computer division
improvement. Efforts were under way to sell the assets of
hydrogenation plant at Chalisgaon.
1987 - The computer division continued to operate under sever
competitive conditions and efforts were on to improve its
1988 - The Company embarked upon new lines of activities, including
upgrading the computer division.
1989 - Due to uncertainties of the oil industry, the Company proposed
divert its activities into leasing business, hire purchase
business and exports of commodities other than those in which
company is engaged.
1992 - As on 31st March, the Company held 132 No. of equity shares
Rs. 100 each out of 133 No. of equity shares issued by this
-The Registered Office of the Company has been shifted from Dena Bank
Building, 1st Floor, 17-B, Horniman Circle, Fort, Mumbai - 400 023 to
Bhupen Chambers, Ground Floor, Unit-I, Dalal Street, Fort, Mumbai -