Uttam Value Steels Ltd.

YEAR                       EVENTS
 1970 - The Company was incorporated as a Pvt. Ltd. on 27th April
 under
        the name of Gupta Tubes and Pipes Pvt. Ltd.  The Main Objects
 of
        the Company is Designing and Fabrication of various chemical,
        pharmaceutical and other machinery and structurals such as
        air/gas/liquid structurals, distillation columns, heat
        exchangers, LPG bullets, pressure vessels, reactors, tanks
 and
        road tankers and manufacture of steel pipes and tubes and
 steel
        castings.
 
 1977 - The Company entered into the field of design and fabrication
 of
        shell and tube heat exchangers.
 
 1978 - A separate Air Drying Plant (ADP) division to cater to users
 of
        air and gas drying systems was started in August.
 
      - The Company also set up a full-fledged design department
 during
        the year.
 
 1980 - All shares taken up by signatories to the Memorandum of
        Association, Promoters, Directors, etc.
 
 1982 - In April a full-fledged project division was established.
 
      - 17,500 shares issued to promoters, etc.
 
 1983 - 12,500 shares issued to promoters etc.
 
 1984 - The Company commissioned a new foundry at Murbad.
 
 1985 - The name of the Company was changed to Lloyds Steel
 Industries
        Pvt, Ltd. on 10th September.  The Company's status was changed
 to
        that of Public Limited Company with effect from 3rd June,
 1986.
 
      - The Company set up its first work shop at Andheri, a suburb
 of
        Mumbai.
 
      - Equity shares sub-divided.  4,00,000 Rights shares issued at
 par
        in prop. 4:5.  6,00,000 Bonus shares issued in prop. 2:3 in
        December 1985.
 
 1986 - The Company undertook modernisation of its existing workshops
 at
        Andheri and Murbad.
 
      - 15,00,000 No. of equity shares issued (Prem. Rs 8 per share)
 of
        which 3,00,000 shares were offered and allotted as Rights. 
 Out
        of the remaining 12,00,000 shares, the following shares were
        reserved and allotted on a preferential basis: 
 
      - (i) 75,000 shares to employees, etc.; 
 
      - (ii) 24,000 shares to business associates and 4,00,000 shares
 to
        NRIs.  The balance 7,01,00 shares were offered for public
        subscription during September.
 
      - Additional 3,75,000 shares were allotted to retain  
        oversubscription (75,000 shares as Rights; 18,700 shares to
        employees, etc.; 6,000 shares to business associates;
 1,00,000
        shares to NRIs and 1,75,300 shares as Rights; 18,700 shares
 to
        employees, etc.; 6,000 shares to business associates;
 1,00,000
        shares to NRIs and 1,75,300 shares to the public).
 
 1988 - A new unit was set up at Murbad as a part of expansion of the
        existing activities.
 
      - The Company entered into technical tie-ups with 8
 internationally
        renowned companies in the engineering sector.
 
      - The Central Government gave the clearance for a project to
        manufacture 1.5 lakh per annum of hot rolled carbon steel
 strips
        at Wardha, Maharashtra.
 
 1989 - All the 3 units viz., Andheri, Murbad I and II as also 5
 major
        project sites were equipped with integrated fabrication
        facilities including heat treatment, metal forming stress
        relieving automatic plate bending, etc.
 
      - A network of committed ancillary units for various machinery
 and
        allied jobs were developed.
 
      - Technical arrangements were made with Mannesmann Demag
        Huttentechnik Metallgeuinnung (MDH), a division of Mannesmann
        Demag AG, West Germany for manufacture, procurement, supply
 and
        demonstration of performance guarantees of imported equipment
 and
        for deputation of MDH personnel to supervise erection and
        commissioning of plant and to train the Company's personnel. 
 The
        agreement provides for a payment of DM 42,140,000 in five
        instalments to MDH.
 
      - The Company also signed an agreement with Metallurgical &
        Engineering Consultants (India), Ltd., (MECON) for rendering
        detailed engineering site supervision services, commissioning
 and
        inspection services for the project.
 
      - The Company received a letter of intent from ONGC for one
        offshore rig.  The rig was to be offered to ONGC towards the
 end
        of the year.  However, the Company could not import the rig
        during 1990-92 to deliver it to ONGC due to foreign exchange
        crunch.
 
      - The Company started negotiations for upward revision in the
        charter hire rates as the earlier rates turned out to be
        uneconomical with the devaluation of rupee.  Also,
 negotiations
        were on with Oil India, Ltd. and ONGC for further offers of
        onshore/offshore rigs.
 
      - The company issued 1,50,000-14% secured redeemable
        non-convertible debentures of Rs 100 each on private
 placement
        basis with UTI, LIC, GIC and its subsidiaries.  These
 debentures
        are redeemable at a premium of 5% in five equal instalments
        beginning at the end of five years from the allotment date,
 i.e.
        8th August.
 
      - 16,87,500 Bonus shares issued in propn. 1:2.
 
 1990 - The Company incurred capital expenditure of Rs 555 lakhs on
        further expansion and modernisation of units at Andheri and
        Murbad and at four project sites.
 
      - The Company raised a sum of Rs 138.29 crores during the year
        through rights/public issue of fully convertible debentures.
 
      - The company privately placed, 2,00,000-14% non-convertible
        debentures of Rs 100/- each with UTI and LIC.  These
 debentures
        are redeemable at a premium of 5% in five equal instalments
        beginning at the end of five years from the date of
 allotment,
        i.e. 22nd May.
 
      - During November, the Company offered 12,65,625-14% secured
 fully
        convertible debentures of Rs 350 each on Rights basis in the
        proportion 25 debentures: 100 equity shares held (all were
 taken
        up).  Additional 34,375 debentures were allotted to retain
        oversubscription.
 
      - Simultaneously another 63,283-14% debentures of Rs 350 each
 were
        issued to employees under the Employees' stock option.  None
 were
        taken up and all were allowed to lapse.
 
      - Simultaneous to the Rights issue, the Company also issued
 through
        prospectus 19,62,946-14% secured fully convertible debentures
 of
        Rs 350 each of which the following debentures were reserved
 for
        allotment on a preferential basis: (i) 4,28,572 debentures to
        NRIs on repatriation basis (all were taken up); (ii) 98,147
        debentures to employees (including Indian working
        directors)/workers of the Company on equitable basis (only
 78,340
        debentures taken up).
 
      - The remaining 14,36,227 debentures, along with 19,807
 debentures
        not taken up by employees', were issued to the public.
        Additional 2,94,442 debentures were allotted to retain
        oversubscription (47,648 debentures to NRIs and 2,46,794
        debentures to public).
 
      - Rs 175 (Part A) of the face value of each debenture was to be
 
        converted into 5 No. of equity shares of Rs 10 each at a
 premium
        of Rs 25 per share on the expiry of 9 months from the date of
        allotment of debentures.  The remaining Rs 175 (Part B) of
 the
        face value of each debenture was to be converted into such
 number
        of equity shares of Rs 10 each at such premium to be decided
 by
        CCI after 24 months from the date of allotment of debentures.
 
 1991 - The Company foresee growth in their activities in liberalised
        business environment in the field of petrochemicals,
 fertilisers,
        refineries, etc.  The Company was planning to diversify into
        engineering and supply steel plant equipments and power
 plants
        upto 20 MW capacity on turnkey basis.
 
 1992 - The Company proposed to set up a plant to manufacture 2.25
 lakh
        tonnes of cold rolled coils and one lakh tonnes of galvanised
        plain/corrugated (GP/GC) sheets.
 
      - The Company entered into MOU with Braun Utility Services.
        Corporation, New York, USA, for technical back-up for
 manufacture
        of power plant upto 20 MW.  Also entered into a MOU with
 United 
        Engineering Inc. (UE), USA, for technical know-how and back up
          
        for manufacture of steel plant equipments.
 
      - The Company signed an MOU with Suedrohrbau, GmbH & Co. of
        Germany for bidding of Cross Country Pipeline Project.
 
      - 146,78,065 No. of equity shares allotted (Prem. Rs 25 per
 share)
        in conversion of debs.  Another 25,44,455 No. of Equity
 shares
        allotted (Prem. Rs 25 per share) in lieu of the cumulative
        interest.
 
 1993 - 3,73,263 No. of Equity shares forfeited.  25,05,409 No. of
        Equity shares issued on conversion of Part `B' debenture.
 
 1994 - The increase in turnover was attributed to improved working
 of
        engineering activities and the commissioning of the hot
 rolled
        coils project at Wardha.
 
      - During February, the Company offered 383,33,333 optionally
 fully
        convertible debentures of Rs 60 each for cash at par of which
        1,91,66,667 debentures were offered to the existing equity
        shareholders (only 1,69,83,368 debentures were taken up).
        38,33,333 debentures were offered on a preferential basis to
        Indian financial institutions/Mutual Funds (all were taken
 up.)
        65,000 debentures offered to the employees (41,300 debentures
        were taken up).  10,00,000 debentures offered to the
 shareholders
        of Lloyds Finance Ltd. (All were taken up).
 
      - Remaining 79,05,001 debentures were offerred to the public
 along
        with unsubscribed portion, if any, from the above category. 
 (All
        were taken up) along with unsubscribed portion of above
        category).
 
      - Rs 25 (Part `A') of the face value of each debenture was to
 be
        converted into one equity share of Rs 10 each at a premium of
 Rs
        15 per share after 9 months from the date of allotment.  The
        remaining Rs 35 (Part `B') would be given two option.  Option
 1.
        (Equity Otion) - Part B of Rs 35 was to be converted into one
        equity share of Rs 10 each at a premium of Rs 25 per share on
 the
        expiry of 18 months from the date of allotment.  Each part
 `B'
        debentureholders was to be entitled to get Rs 5 per debenture
        towards interest.  Option II. (Deep Discount Bond Option).
 
      - Part `B' of Rs 35 was to be converted into one deep discount
 bond
        of the face value of Rs 40 (inclusive of interest of Rs 5 per
        debenture) on the expiry of 18 months from the date of
 allotment,
        which would mature on the expiry of the 45th Month from the
 date
        of allotment for a value of Rs 60.
 
 1995 - The Company launched galvanised sheets/coils which was well
        received in the market.  To boost exports, the Company
 undertook
        to promote an overseas body at U.K.
 
      - The Company undertook a project for the development of
 special
        grade steels used in Oil and Natural Gas sector and in the
 Sugar
        Industry with technical association from Visveshvariya
 Regional
        College of Engineering, Nagpur.
 
      - 36,497,419 No. of Equity shares allotted on conversion of
 Part
        `B' of optionally fully convertible debentures, 4,38,988
 shares
        forfeited.
 
 1996 - The Company proposed to put up a 80 MW captive power plant.
 
      - The company entered into technical collaboration agreements
 with:
        (i) With Vosper Thornycroft (U.K.) Ltd., England for the
        manufacture of steering gears and non-retractable in
 stabilizers
        for the Indian Navy for their war ships.  (ii) With FMC
 Europe
        SA, France for the manufacture of marine loading arms; and
 (iii)
        With Bailieboro Co-op. Engineering Ltd., Ireland for the
        manufacture of dairy equipment.
 
      - The Technical Collaboration with Vosper Thornycroft (UK) Ltd.
        (VTC), provided for supply of design engineering know-how and
        successful commissioning of the plant for the manufacture of
        steering gear, etc., and training of the Company's engineers
 at
        VTC's plant at England.
 
      - The Company jointly with SICOM promoted a company under the
 name
        Sipta Coated Steels Ltd., for the manufacture of GP/GC sheet.
 
      - During March/April the Company offered 74,141,199 No. of
 equity
        shares of Rs 10 each at a premium of Rs 18 per share on right
        basis to the existing shareholders in the ratio of 64:100
        alongwith detachable warrants in the ratio of One Warrant for
        every Ten Equity share held.  Every Warrant holder was
 entitled
        to receive one equity share at a price of Rs 55 between 36 to
 39 
        months from the date of allotment.  All were accepted
 75,20,685
        warrants were allotted.
 
      - Lloyds Realty Ltd., is a wholly owned subsidiary of the
 Company.
 
 1997 - The company proposes to meet the rest of the fund
 requirements
        through internal accruals.
 
      - Lloyds Steel too is setting up a captive power plant, which
 is
        expected to cut costs drastically after being commissioned.
 
      - The company suo moto placed a proposal to cut down all
 expensive
        credit limits like LC, and in turn, has requested the banks
 to
        consider increasing the working capital limit.
 
 1998 - The Rs.9.75-crore deep discount bond of Lloyds Steel
 Industries
        Ltd has been downgraded from C to D by the Credit Rating
        Information Services Ltd (Crisil).
 
      - Lloyds Steel's merger with its subsidiary, Rs. 114-crore
 Lloyds
        Metals, would be further delayed as the financial
 institutions
        are yet to give the green signal.
 
      - Lloyds Steel Industries Ltd, has entered into an agreement
 with
        Western Coalfields Ltd (WCL) for opening an underground mine
        exclusively for the use of Lloyds Steel.
 
 1999 - Power Engineering Corporation, an Irish company, will pick up
 a
        24 per cent stake in the coal-based, captive power company
        being set up by Lloyds Steel Industries Ltd (LSIL) called
        Vidarbha Power Ltd.
 
      - LSIL has entered into a memorandum of understanding with the
        company's local subsidiary, PEC Energy (India) Ltd, which
 will
        float an independent company to provide operation and
        maintenance (O&M) services.
 
 2005
 
 -Mr. B. Ravindranath, Chief General Manager, IDBI Limited, Southern
 Zonal Office, Chennai, has been appointed as Nominee Director of IDBI
 Limited on the Board of Directors of the Company
 
 2006
 
 -Mr. K A Krishna Rao has been appointed as an Independent Director on
 the Board of the Company 
 
 2007
 
 -Lloyds Steel Industries has incorporated a new E-mail ID i.e.
 invester@lloyds.in for the speedy disposal of investor grievances and
 complaints.
 
 2008
 
 -Mr. R Parthasarathy has been appointed as Nominee Director of IFCI
 on the Board of Directors of the Company
 
 2010
 -Registered Office of the Company has been shifted From Modern
 Centre, B Wing, 2nd Floor, Sane Guruji Marg, Mahalaxmi, Mumbai -
 400011 To Trade World, 'C' Wing, 16th Floor, Kamala City, Senapati
 Bapat Marg, Lower Parel (W), Mumbai - 400013
 
 2011
 
 -Shri B. L. Khanna has been appointed as a Special Director on the
 Board of the Company
 
 - Mrs. Neelu Dhingra has been appointed as the Company Secretary &
 Compliance Officer of the Company 
 
 2012
 
 -Mr. R. K. Bansal has been appointed as Nominee Director of IDBI Bank
 on the Board of the Company.
 
 -Registered Office of the Company has been shifted from Trade World,
 ‘C’ Wing, 16th Floor, Kamala City, Senapati Bapat Marg, Lower Parel
 (W), Mumbai-400013 to 4th Floor, Uttam House, 69, P.D’Mello Road,
 Mumbai -400009
 
 2013
 -Lloyds Steel Industries Ltd has informed that the name of the
 Company has been changed from Lloyds Steel Industries Ltd. to Uttam
 Value Steels Ltd. 
 -Uttam Value appoints S. K. Soni as an Additional Director of the
 Company.
 
 2014
 -Uttam Value Steels Ltd has informed Appointment of Shri S. K.
 Sachdev as a Nominee Director
 -Uttam Value Steels Ltd has informed that appointment of Smt. Pratima
 Srivastava, as an Additional Director of the Company with effect from
 May 30, 2014.