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JMG Corporation > Company History > Plastics > Company History of JMG Corporation - BSE: 523712, NSE: N.A

JMG Corporation

BSE: 523712|ISIN: INE745F01011|SECTOR: Plastics
Jun 13, 16:00
JMG Corporation is not listed on NSE
Company History - JMG Corporation
The Company was incorporated on May 1, 1989 as a Public Limited
 Company under the name and style of IRPLAST ADHESIVE INDIA
 LIMITED(IAlL) and obtained Certificate of Commencement of Business on
 September 20, 1989 from the Registrar of Companies, Delhi and Haryana.
 The name of the Company was changed to IRPLAST ADHESIVES INDIA LTD
 and Fresh Certificate of incorporation was issued by the Registrar of
 Companies, Delhi & Haryana, New Delhi, on 11th August, 1992
 The Company implemented a project for the manufacture of pressure
 sensitive adhesive tapes with installed capacity of 300 Lac sq. mts
 per annum at a cost of Rs. 1372 Lac in Nov. 92.The Company had its
 first Public Issue of 32.10 lakh Equity Shares of Rs. 10 each for
 cash at par
 aggregating Rs. 321 Lakhs on December 21, 1992 to part finance the
 The Company incurred losses of Rs.153.89 lakhs and Rs. 369.54 lakhs
 for the year ended March 31, 1993 and 1994, respectively. The main
 reasons of the operational losses were low capacity utilisation due
 to paucity of working capital and heavy interest burden. In order to
 make good
 the erosion in the working capital and thereby strengthen the
 Financial position, the Company made preferential allotment of
 34,85,500 Equity Shares of Rs. 10/- each for cash at par aggregating
 348.55 lakhs to promoters, their business associates and NPI
 Investors on August 3, 1994 and preferential allotment of Equity
 Shares of Rs.200 Lacs to
 NRI Investors on September 26, 1994. There has been no delay in
 project implementation, closure and labour problems in the company
 till this date.
 Presently, the Company is engaged in the manufacture and sale of BOPP
 Self Adhesives Tapes, plain as well as printed, masking tapes, nylon
 tapes etc. at Plot No. 7 Roj-Ka-Meo Industrial Area, Sohna, Gurgaon,
 In order to augment its revenues, the Company has, in a limited way,
 embarked upon providing consultancy and project feasibility services
 in the areas related to hotels and tourism industry. As its first
 project, it is providing a complete study to a Hotels Group in
 Europe. This study
 comprises a comprehensive macro level and micro level evaluation of
 investment opportunities in India in 3 to 5 star hotels, budget
 hotels, motels, country clubs, Ski and leisure resorts for domestic
 and foreign tourists. It will include detailed project studies for
 hotels and, when
 appropriate, organizational and financial structuring thereof.  The
 first assignment, already commenced, is expected to be completed in
 12 to 15 months.  The Company expects that it will manage the
 completion of the project within the present resources available and
 with active
 assistance of its promoters.  Further work will be initiated in this
 field of consultancy on completion of this first major assignment.
 At the Sixth Annual General Meeting of the Company held on 21st
 December, 1995, a special resolution has been passed to shift the
 registered office of the company from New Delhi to Distt. Gurgaon in
 the State of Haryana. The company has filed the petition to this
 effect with Company Law Board on 23rd April, 1996.
 - Company name has been changed from Irplast Adhesives India Ltd to
 JMG Corporation Ltd.
 --Registered Office of the Company has been shifted From Plot No. 7,
 ROZ-Ka-Meo, Industrial Area, Mewat District, Mewat-122103 to Suite
 No. 307, Palam Triangle, Palam Vihar, Gurgaon-122017.
Source : Dion Global Solutions Limited
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