Bengal Tea and Fabrics Ltd.

YEAR                       EVENTS
 1983 - The company was incorporated on 16th July, at Calcutta.  It
 was
        promoted by B.D. Kanoria.  The main object of the company is
 to
        manufacture tea and processing of cotton/blended yarn.
 
 1985 - Subsequently Bengal Tea & Industries Ltd. (BTIL) was
 amalgamated
        with the Company with effect from 1st April.  BTIL owned
 three
        tea estates in Assam and acquired Asarwa Mills.
 
 1990 - The tea division has eight gardens with a gross area of 6,363
        hectares located in Assam namely Pallorbumd, Mackeypore,
 Poloi,
        Dooloogram, Ananda, Pathalipam, Bordeobam and Lakmijan Tea
        estates.
 
 1991 - The Company entered the branded poly-packed tea segment with
 the
        introduction `Classic Gold' and `Pollorbund' in Northern and
        Estern India.
 
      - The textile division Asarwa Mills comprises of a composite
 mill
        located at Ahmedabad and an industrial yarns unit located at
        Dholka.  The composite mill has an installed capacity of
 48,304
        spindles and 324 looms to produce 50 lakh Kgs. of cotton,
        polyester-cotton and polyester viscose yarns per year and
 35,000
        mtrs. of cloth per day.  Later the spinning section was
        modernised by installing automatic looms.  The industrial
 yarns
        unit consists 19 open end spinning machines having a total
 rotor
        capacity of 3,528 and a capacity to produce 100 lakh kgs. of
        coarse yarns used in furnishing fabrics, denim and industrial
        fabrics.
 
 1992 - The Company undertook to set up a new spinning project in the
        name of Asarwa Overseas with a capacity of 18,144 spindles to
        manufacture cotton/blended yarn for export at village
 Walthera,
        Taluka Dholka, Dist. Ahmedabad.
 
      - 2,00,000 No. of equity shares of Rs. 10 each issued,
 subscribed
        and paid up.  7,54,680 No. of equity shares allotted as fully
        paid up for consideration other than cash.  9,46,040 bonus
        shares issued.
 
 1993 - The Company issued 25,000 - 17% secured redeemable partly
        convertible debentures of Rs. 1,280 each to UTI.  Part-A of
 Rs.
        1000 will be redeemed in four equal annual instalments in the
 5th
        6th, 7th and 8th years.
 
      - Part-B of Rs. 280 will be converted into 7 equity shares of
 Rs. 
        10 each at a premium of Rs. 30 per share at the end of six
 months
        from the date of allotment.  Accordingly 1,75,000 No. of
 equity
        shares allotted at a premium of Rs. 30 per share.
 
      - 18,92,080 bonus equity shares issued.  21,57,500 No. of
 equity
        shares of Rs. 10 each at a premium of Rs. 30 per share issued
 out
        of which 1,00,000 shares were issued and allotted to
 promoters,
        etc. on firm basis.  Out of the remaining, 1,07,875 shares
 and
        2,00,000 shares then issued and allotted to employees and
 Indian
        Mutual Funds respectively on preferential basis.  The balance
        17,49,625 shares were issued to the public during January
 1994. 
        All were taken up.
 
 1994 - The textile division Efforts were being made to increase the
        yield per hectare by installing, rejuvenation and new
 plantation. 
        The textile division's profitability was affected by the
 abnormal
        increase in price of raw cotton.
 
      - Steps were taken to increse the capacity of Asarwa Overseas
 from
        18,144 spindles to 24,192 spindles.  Also, for installation
 of
        wind power farm with a capacity of 3 MW in the coal area of
        Gujarat, payment for land was made.
 
      - The objects of the public issue made during January, were to
        finance the capital cost of the new spinning project, to meet
 the
        long term working capital requirements and to get the equity
        shares listed.
 
      - 19,92,080 rights equity shares were issued (prem. Rs. 25 per
        share; prop. 1:1).
 2002
 
 -Shri Basudeo Kanoria resigns from Board of Bengal Tea & Fabrics.
 
 -Bengal Tea and Fabrics Ltd has informed that the Board of Directors
 appointed Mr. Lalit Dugar as the Secretary of the company and further
 he has been appointed as the Compliance Officer wef November 1, 2002.
 By virtue of the appointment of Mr. Lalit Dugar as the Compliance
 Officer the additional charge of compliance officer as given to Mr.
 D. S. Pagaria (Chief Financial Officer) has been ceased.
 
 2004
 
 -Delist from Ahmedabad Stock Exchange (ASE) with effect from October
 15, 2004.
 
 2006
 -Bengal Tea and Fabrics Ltd Issues Rights in the Ratio of 1:2
 
 2007
 
 -Bengal Tea & Fabrics Ltd delists Equity Sharesfrom The Calcutta
 Stock Exchange Association Ltd (CSE).
 
 2008
 
 -Bengal Tea & Fabrics Ltd has informed that the equity shares of the
 Company have been delisted from the Calcutta Stock Exchange
 Association Ltd (CSE) w.e.f. March 25, 2008.
 
 2009
 
 - Bengal Tea & Fabrics Ltd has informed that Mr. Abhijit Datta has
 been appointed as an Additional Director of the Company with
 immediate effect.
 
 2011
 -The Board of Directors of the Company has in the meeting held on 7th
 May 2011 has recommended a dividend of Rs.1.50 per share.
 
 2012
 -Dhanpat Singh Pagaria has been appointed as Compliance Officer.
 
 2013
 -The Board of Directors has appointed Sri Kailash Prasad Khandelwal
 as an Additional Director.
 
 2014
 -Bengal Tea & Fabrics Ltd has  has recommended a dividend of Rs. 2.00
 per equity share.
 
 2022
 
 The Company has  decided the closure / sale/ transfer/ disposal of
 the Textile Division located at Asarwa Mills, Ahmedabad, Gujarat .