1983 - The company was incorporated. The company has been promoted as
joint venture of PICUP and Bharat Gears Ltd, a Runaq
- The company had technical collaboration with DAB
Industries, U.S.A. for
manufacture of Bi - metal bearings.
1991 - The company has installed Pre-heater furnaces and Sealed
Furnances with inbuilt recuperators which has resulted
in substantial energy
- The company has also explored to install processing
equipments designed to
1994 - Company has contested/gone into appeal against against the
exparte order of
Asst. Sales Tax Officer, Bhopal for the year 89-90 with
Demand Notice for Rs. 10,531/-.
1995 - The company is committed to accord priority for energy
The company gives significant importance to R&D
activities, to optimally
utilise available resources.
1996 - The Company has started implementation of ISO 9000
is also simultaneously working on Total Quality
- In order to meet the financial requirements for such
Expansion cum Modernisation
programme, the Company is proposing to issue its Equity
Share Capital on Right
basis to its existing Shareholders.
- Subsequent to the withdrawal of nomination of Mrs.
Surjeet Kaur Sandhu as
Chairperson/Director during the year by The Pradeshiya
Industrial & Investment
Corporation of U.P. Ltd. (PICUP), Mr. Siddhartha Behura
was nominated as Chairman
and Director on the Board of Directors of the Company
w.e.f. 22.12.95 by PICUP.
1997 - Due to adverse condition of industry in general and stock
particular, the Company could not come out with Rights
proposed in previous Annual General Meeting.
- After the last Annual General Meeting, Mr. Raunaq
Director and Mr. O. R Vaish, Director, had resigned from
1998 - The Company has embarked upon export sales drive and
it has received various enquiries from overseas markets
for supply of
components and negotiations are on with various
- During the year under review the Company has allotted
Paid-up) Equity Shares of Rs. 10/- each at par to the
Corporate Body increasing the issued and subscribed
capital to Rs.844
- Pradeshiya Industrial & Investment Corporation of U.P.
Ltd. (PICUP) the
Promoter Financial Institution of the Company withdrew
of Mr. D.S. Bains as Chairman & Director and Km. Nita
appointed as Chairperson & Director of the Company.
- Mr. Indu Kumar Pande, IAS was nominated as Chairman and
Director of the Company,
w.e.f. 23rd April.
1999 - The Company had been badly affected due to low demand of
further due to a strike in Escorts group of Companies
for nearly 4 months.
- The Company has also entered into arrangement with some
- The company develops a number of new components during
the year and the
Company has been following this policy of writing off
the development cost
over five years for the reasons that the benefits of
development of new components
accrue over a number of years.
2000 - The Board has decided to issue up to 10 lakh equity shares of
10 each on preferential basis to H.S. Kohli & his
- The Company has signed an agreement with CDLS and NSDL
2002-Raunaq Automotive Components Ltd has informed that following
changes have taken place on its Board:1. Mr Sanjiv Nair has been
nominated by PICUP as the Chairman & Director of the Company in place
of Mr D S Bains w e f July 12, 2002.2. Mr Akhil Swami has been
nominated by PICUP as the Director of the Company w e f July 10,
-Raunaq Automotive Components Ltd has informed BSE that Mr Gursharan
Singh has been appointed as Director of the company wef August 23,
-Raunaq Automotive Components Ltd has informed that Mr. M R Gireesan
has been nominated as a Director by IFCI in place of MR. S P Gupta.
- The Company has received SilverTrophy for Excellence in Exports.
- The Company has received Bronze Trophy for Excellence in Exports.
- The Company has received Second Prize from CII National Cluster
- The Company has received Golden Trophy for Excellence in Exports.
-The Company has allotted 10,00,000 equity shares of face value of
Rs. 10/- at the rate of Rs. 16.25 per share to Middleware Development
Ltd. on preferential allotment basis.
-RACL has been awarded BRONZE TROPHY, SILVER TROPHY, & most
prestigiousn GOLD TROPHY for excellence in exports.
-The Company has allotted 10,00,000 equity shares of face value Rs.
10/- at a price of Rs. 20 per share to Mr. Arendra Kumar on
- The company has changed its name from Raunaq Automotive Components
Ltd. to Racl Geartech Ltd.