CPEC Ltd.

YEAR                       EVENTS
 1942 - The Company was incorporated as a private limited company on
 4th
        September, and as a public limited company on 14th February,
 1979
 
      - The Company's object is to manufacture various elements of
        mechanical power transmission equipment such as worm
 reduction
        gears, spur gear boxes, variable speed devices, flexible 
        couplings and drives.
 
      - The Company was promoted by Pheroze B. Karanjia to
 manufacture
        various elements of mechanical power transmission equipment
 such
        as worm reduction gears, spur gear boxes, variable speed
 devices,
        flexible couplings and drives.
 
 1963 - The Company obtained technical know-how from the erstwhile 
        Crofts (Engineers), Ltd., U.K. for its products.  Crofts 
        (Engineers), Ltd., U.K. subsequently became a part of Renold,
 
        Ltd., U.K.
 
      - Until 1979, 88% of the equity capital of the Company was held
 by
        Mr. Pheroze B. Karanjia and his family, associates and the
        balance 12% was held by Renold, Ltd., U.K. 
 
 1977 - Till date 2,000 shares issued without payment in cash and
 17,500
        bonus shares issued (10,000 shares in prop. 1:2 in 1972 and 
        7,500 shares in prop. 1:4 in 1976).
 
 1979 - The Company became a public limited company as 51% of the
 capital
        was sold to Voltas Ltd., and other Tata Associated Companies.
 
      - Subsequently, the company decided to expand its activities by
        diversifying into new transmission products manufactured by
 the
        Renold Group in the U.K.  As a part of this scheme, Renold
 Ltd.,
        increased their holding from 12% to 26% in the equity capital
 of
        the company and provided technology for the additional items
 as
        well as for some of the items currently under manufacture for
        upgrading the technology.
 
      - In September, the company voluntarily transferred the sole
        agency for Renold, Ltd., U.K. to Voltas Ltd.  The Company, 
        however, would continue to be associated actively with the 
        technical assistance and service in India.  Renold's imported
 
        equipment.  Voltas, Ltd., was also appointed as distributors
 for
        the company's standard products for the whole of India
 excluding
        Mumbai city and Maharashtra.
 
 1982 - 25,000 bonus shares issued in prop. 2:1.
 
 1983 - Simultaneously with the public issue of capital during
 September,
        some of the then existing shareholders offered for sale to
 the
        public out of their holding, 62,000 No. of equity shares of
 Rs.10
        each at a prem. of Rs.2 per share.
 
      - The objects of the public issue of capital and offer for sale
        during September was to raise a part of the funds required
 for
        meeting the capital expenditure for the expansion and 
        diversification at Thane and Taloja and to get the shares of
 the
        Company listed on the Stock Exchange.
 
      - Shares subdivided on 29th April, 5,75,000 shares issued
 (prem.
        Rs.2 per share).  2,37,000 shares reserved and allotted to
        Renold, Ltd. U.K. and 3,38,000 shares offered to the public
 in
        Sept. 1983.
 
 1984 - The operations, had to be suspended due to the labour
 problems.
 
      - Work at Taloja and Thane were suspended in August, due to
 labour
        troubles.
 
 1986 - With effect from 28th January, the name of the Company was 
        changed from Communication & Power Equipment Co. Ltd., to 
        CPEC Ltd.
 
 1987 - The demand for the company's products came down due to
 recession
        in capital goods industries.
 
 1988 - The Company came under the provisions of the Sick Industrial
        companies (Sp. Provisions) Act, 1985 and a reference was made
 to
        the Board for Industrial and Financial Reconstruction as per
 the
        requirements of the Act.
 
 1989 - Production and sales declined due to paucity of working
 capital,
        poor labour relation and absence of infrastructure to market
        Company's products.
 
 1990 - A settlement was arrived at with the workmen and the staff for
 a
        period of 3 years from 1st January.
 
 1992 - Sales and production further declined due to increase in the
        overhead costs and continuing recession in the industrial
 sector.
        However due to better product mix realisation per unit was
        higher.
 
      - In order to expand the range of products currently
 manufactured
        and also of diversify its production range by adding other 
        elements of mechanical power, transmission equipment, such
 as,
        helical gear boxes, spring clutches, mechanical pneumatic
        clutches, geared motors, worm reduction gears about 12 and
 upto
        24 and motorised variable speed units, the company undertook
 to
        set up new facilities at Taloja in the Raigad district of 
        Maharashtra State.
 
      - A technical collaboration was also entered into with Renold,
 Ltd.
        U.K.  No royalty or lumpsum payments are involved under the   
     
        technical collaboration agreement.
 
 2008
 
 -The Company designated email id of the Grievance Redressal Division
 of the Company as: cpecltd@bom4.vsnl.net.in
 
 2013
 
 -Registered office of the company has been changed from 505, Sai
 Samarth Business Park, Deonar Road, Deonar, Mumbai - 400088 to 11,
 211-219, Bharti Bhavan, opp. Govt. dental College, P. DMello Road,
 Fort Mumbai - 400001