Shaw Wallace and Company Ltd.

YEAR                                                      EVENTS
 1946 - The Company was incorporated as a private company and
 converted
               into a public company on 25th July, 1947.
 
            - The Company carries on business as exporters of
 fertilisers,
              gunnies and general produce; as insurance and shipping
 agents; as
              importers and manufactures of wine and spirits, timber
 and other
              products.  The Company also manufactures glue
 fertilisers,
              agricultural spraying equipment, sulphuric acid, etc.
 
 1947 - 75,000 Pref. and 6,50,000 No. of equity shares issued to
 partners
             of Shaw Wallace & Co. in consideration of taking over
 their
             business.
 
 1958 - The Company continued to be sole distributors for the
 products
              of Bengal Distilleries Co (P) Ltd., manufacturers of
 Hayward's
              Whiskey, Brandy, Gin and other items.
 
 1959 - The Bengal Distilleries became a fully owned subsidiary of
 the
              Company.
 
           - The Company in collaboration with Distilleries Co., Ltd.,
 of the
              U.K., formed Indian Yeast Co. (P) Ltd. for the
 manufacture of
              bakery yeast and held the majority of the shares in this
 new
              concern.
 
           - The Company also acts as Agents for the wines and spirits
 of
              Johnnie Walker, Gordons, Allsopps, Exshaws, Haywards,
 etc.
 
 1963 - The Company completed negotiations to sell a comprehensive
 range
              of agricultural products of Sandoz (India), Ltd., and
 Flintrock
              Products (P) Ltd.
 
 1966 - Bengal Distilleries Co., Ltd., was merged with the Company.
 
            - 2,50,000 bonus equity shares issued in the proportion
 1:3.
 
 1967 - Distillery at Hyderabad produced a dry and sweet table wine
 and
              sweet red fortified table wine under the brand name
 `Golconda'.
 
 1969 - A new malt whisky, `Kings Blend' was successfully launched.
 
 1975 - 10,00,000 bonus equity shares issued in the proportion 1:1.
 
 1977 - 20,00,000 bonus equity shares issued in the proportion 1:1.
 
 1981 - 20,00,000 bonus equity shares issued in the proportion 1:2.
 
 1982 - A letter of intent was received for a synthetic detergent unit
 in
              the Fatehpur district of U.P.
 
 1983 - Letters of intent were received for manufacturing white
 cement
              in Himachal Pradesh and for establishing an undertaking
 to
              manufacture gypsum boards, blocks, tiles, etc.
 
 1984 - A letter of intent was received for the manufacture of
 hydrogen
              peroxide.
 
 1985 - In January, Sime Darby disposed of its holding in Shaw Wallace
 by
              the sale of R.G. Shaw & Co. to a Hong Kong based
 company,
              Carrasco & Co. which was controlled by a non-resident
 Indian.
 
           - The Company petitioned the Company Law Board (CLB)
 seeking an
             enquiry into the true nature of the sale and whether it
 violated
             provisions of the FERA and MRTP Act or not.
 
 1985-86 - In Computer Services Division a process control software
             package was being developed with the technical
 collaboration from
             a European Software House to be marketed within India and
 abroad.
 
 1986 - The Company launched `VSOP', a deluxe brandy and `Pink Lady',
 a
              premium gin.
 
           - The Company entered into long term supply arrangement
 with an
              American buyer for monthly supply of stipulated quantity
 of
              footwear on an annual basis.  Govt. provisionally
 exempted the
              footwear unit of the Company, making it eligible for
 further duty
              drawback on f.o.b. value of exports.
 
           - A joint venture Company was set up in collaboration with
 Blocker
             Energy Corporation Inc., U.S.A. to undertake contract
 drilling
             and for supply of rigs and other equipment for offshore
 and
             onshore projects of ONGC and Oil India.
 
          - Another joint venture was being promoted in collaboration
 with
            Geophysical Services Inc., a subsidiary of Texas
 Instruments
             Inc., U.S.A. for rendering services to the oil and gas
 industry
             in India for exploitation and development of oil and gas
 fields
             by providing complete facilities for collections and
 analysis of
             data from seismic survey.
 
           - In August, R. G. Shaw & Co. filed petitions in the
 Supreme Court
             seeking special leave to appeal against the Calcutta High
 Court
             order of 4th July, which refused to fix a date for the
 AGM and
              vacation of the stay ordered by a Pune Civil Court judge
 on the
              holding of an AGM or EGM.
  
           - On 26th September, the Supreme Court directed the Company
 to hold
               its pending AGM and two EGMs on the 19th, 20th and 21st
 November,
               respectively.
 
            - In order to streamline the holding of investments, it
 was
              proposed that fourteen subsidiary investment companies
 in the
              Group be merged with Shaw Wallace & Co. Ltd.
 
 1987 - A new products, Acephate, was introduced.  Approval was
 awaited
              for the manufacture of other phosphorous based
 pesticides.
 
           - 60,00,000 bonus equity shares issued in the proportion
 1:1.
 
 1988 - The Shipping division secured agency of Lykes Lines, New
 Orleans
              and agency for crew recruitment of Schulte Group of
 Companies,
               West Germany.  The agency agreement with CMB of Belgium
 was
               terminated due to conflict of interest.
 
           - Following approval of the CCI and the High Court of
 Calcutta,
             75,000-14% secured, redeemable, non-convertible
 debentures of Rs
             100 each were issued at par in proportion 1:1 and
 allotted during
              the year to the holders of 6% cumulative preference
 shares in
              lieu of their holding in terms of the Scheme of
 Arrangement.
 
 1989 - Production of superphosphate at Avadi was adversely affected
 due
              to poor availability of raw material and reopened in
 April 1993.
 
           - The Real Estate Division launched projects in Mumbai,
 Calcutta
              and Chennai and the public response was satisfactory.
 
 1990 - Production of Glue & Gelatine was affected due to drought
              conditions, labour unrest and raw material shortages.
 
           - A new vodka, `Karmazov' and a new rum, `Magic Million'
 was
              launched.
 
           - The freehold land and buildings of the Company were
 revalued as
              on 31st March, and the net surplus of Rs 2,050.44 lakhs
 arising
              out of this was credited to capital reserves.
 
 1991 - 118,56,700 bonus shares issued in the proportion 1:1.
 
 1992 - During the year, the Company had issued Bonus Shares in the
              proportion of One new Bonus Share for every Ordinary
 Share held
              by the Shareholders.
 
           - Accoustic Enclosure Systems have been installed in the
             Superphosphate Granulation Plant to reduce Noise
 Pollution level. 
 
           - Charminar Breweries had entered into an agreement with
 SWC in
              to manufacture some of the more reputed SEC brands,
 namely
              Haywards 2000, Haywards 5000 and Royal Challenge beer.
 
 1993 - During the year under review Doburg Lager Breweries Ltd. and
              Multiplex Investments Ltd. became subsidiaries of the
 Company
              while Kerala Chlorates & Chemicals Ltd. and Rajasthan
 Phosphorus
              & Chemicals Ltd., ceased to be subsidiaries.
 
           - New products have been developed, product quality has
 been
              improved.  Significant savings in cost reduction and
 product
              improvement have been achieved.
 
 1994 - The Shipping Divisions activities were reduced to a marginal
               level.  Efforts were being made to consolidate and
 restructure
               the activities of the division.
 
           - The Company offers agency coverage at all major ports in
 India,
              Pakistan and Ceylon and has sub-agents at all minor
 ports.
 
           - 237,13,400 bonus shares issued in the proportion 1:1. 
 1,43,300
              shares kept in abeyance.
 
           - Alaknanda Manufacturing & Finance Ltd., Haywards
 Breweries Ltd.,
              Malleswara Finance & Investment Co. Ltd., and Vibhavari
 Finance &
              Investment Co. Ltd., became subsidiaries of the
 Company.
 
           - In addition, Rajasthan Phosphorus & Chemicals Ltd;
 Stridewell
             Leather Ltd., Shoe Specialities Ltd., Mukherjee
 Consultants Ltd.,
             and Golconda Stud & Agricultural Farm Ltd., also became
 deemed
             subsidiaries of the Company.
 
 1995 - In the absence of major liner agency, the shipping activities
              were reduced considerably and the efforts of the company
 to
              restructure the activity of the division was not
 successfull so
              the Shipping Division was closed during the year.
 
 1996 - During January and February, the Company launched `Hi Life
              Whiskey' and White Mischief Vodka' respectively which
 received
              encouraging response from the customers.  Two more units
 one in
              Punjab and one in Madhya Pradesh were added to the
 existing units
              during the year.
 
           - During the year under review, Jayanthi Detergents Limited
 had
              ceased to be a subsidiary by virtue of the Order of the
 Company
              Law Board dated 10th April, and Jambo Telecom Limited
 had ceased
              to be a subsidiary of the Company with effect from 10th
 November,
              1995.
 
           - During the year, Sea Tech Services Limited had also
 ceased to be
             a subsidiary, Dunlop Industrial Finance Limited had
 become a
             subsidiary of the Company with effect from 20th March.
 
           - Showa Investments Limited became a subsidiary of the
 Company with
              effect from 5th June.
 
           - In Granulation Plant, it installed a Dust Scrubber to
 scrub
             the gases coming out of the dryer cyclone.  The Company
 also
             installed acoustic enclosures to reduce noise pollution.
 
 1997 - India's second largest liquor manufacturer, Shaw Wallace and
              Company, has bagged the international excellence award
 and has
              been named the exporter of the year 1995-96 by the
 Indian
              Council for Small and Medium Exporters.
 
           - The company has also won the export award from the
 Agricultural
              and Processed Food Exports Development Authority (APEDA)
 for the
              third consecutive year in 1994-95. 
 
           - Shaw Wallace has retained its position as India's
 largest
              exporter of alcoholic beverages for the fifth
 consecutive year,
              according to statistics available with the Agricultural
 and
              Processed Foods Products Export Development Authority
 (APEDA). 
 
           - Shaw Wallace and Company (SWC) seems to be the first
 victim of
              sweeping changes in Maharashtra's state excise policy.
 
           - The factory has been closed for two-and-a-half months due
 to
              shortage of working capital.
 
           - Shaw Wallace & Company is offering re-employment to the
 185
              employees of Andhra Winery & Distillery at Hyderabad,
 which was
              closed down following prohibition in the state in
 January 1995.
              The unit has been closed for more than 30 months.
 
           - Shaw Wallace & Co Ltd said that Haywards 5000 has emerged
 as
              not only the country's largest selling strong beer but
 also as
              the second largest selling beer brand overall in India.
              Kingfisher from the UB group is the number one.
 
           - Shaw Wallace and Company has decided to double its beer
              manufacturing capacity over the next three years to keep
 pace
              with the rising demand.  The company's current capacity
 is 11.5
              million cases per annum.
 
 1998 - Bengal distilleries, a Shaw Wallace unit located at
 Bhadrakali
              in West Bengal, is all set to undergo expansion and
 relocation
             exercise.
 
           - Shaw Wallace has launched its premium beer brand Royal
 Challenge
              Premium Lager in 330 ml cans.
 
           - Shaw Wallace & Co Ltd has proposed the sale of three
 more
             divisions - gelatines, agrichem and Shaw Wallace & Hedges
 -
             apart from consumer products to repay the total of
 Rs.194.08
             crore owed to its 178 creditors till November, 1997.
  
          - Shaw Wallace & Co has set up an independent central
             co-ordination committee for improving management
 practices at
             all levels.
 
          - The company is setting up a new plant in Chandigarh to
 make
             ossein, an intermediate for its main product, gelatines.
 
          - Shaw Wallace Gelatines Ltd (SWGL) has decided to diversify
 into
             liquor, beer, glue, modified glue, empty capsule shells
 and
             cattle fodder.
 
           - In January, Bengal Distilleries, Shaw Wallace's West
 Bengal
              unit became the second distillery in the country to
 receive the
              ISO 9002 certification.
  
           - The company has set up an R&D centre at Maharashtra
 Distilleries
              in Aurangabad.
 
           - The Agricultural and Processed Food Exports Development
 Authority
              (APEDA) has awarded Shaw Wallace and Company (SWC) as
 the largest
              exporter of alcholic beverages for 1997-98.
 
           - The company has tied up with Winsome Breweries located in
 Alwar,
              Rajasthan and Mohan Meakins-owned Mohan Rocky
 Springwater Brewery
              located in Maharashtra.
 
           - Director's Special from Shaw Wallace has emerged as the
 most
              popular Indian whisky abroad.
  
 1999 - Shaw Wallace has recently set up a disinvestment committee
 for
              recommending the methodology for speedy and transparent
              divestment of the company's agri-cheem, gelatine and the
 Sri
              Lanka based trading businesses.
 
            - Liquor major Shaw Wallace & Company has entered into a
 strategic
              alliance with Nepal-based Himalayan Brewery Ltd for
 manufacturing
              seven lakh cases of its popular beer brands per annum
 to
              strengthen its presence in the north eastern region of
 India.
 
            - Shaw Wallace & Company Ltd (SWC) has proposed to
 suitably amend
               its Articles of Association to be able to buy back its
 shares
              and other specified securities from the existing
 shareholders
              and/or from the open market up to 25 per cent of the
 aggregate
              of the paid-up capital and free reserves.
 
 2000 - Shaw Wallace & Co (SWC) will launch a new premium Larger beer
              brand, exclusively for the Kerala and Karnataka markets,
 United
              Breweries Ltd's (UB) strongest turfs in the country.
 
            - Shaw Wallace and Company (SWC) will merge six of its
 investment
              subsidiaries as part of the second stage of its
 restructuring
              plan.
 
           - Shaw Wallace & Co (SWC) is planning to set up three to
 four
              greenfield plants in Goa, Kerala, Karnataka and Madhya
 Pradesh
              for manufacturing of its beer brands.
 
           - Shaw Wallace & Company launched a new mild beer called
 `Hi-Five'
              in flint bottles of 650 ml.
 
           - The Company has entered into a strategic alliance with
 Tamil
              Nadu-based Empee Breweries to manufacture 1.2 million
 cases of
              beer annually.
 
            - Shaw Wallace and Co. has launched its flagship European
 strong
               beer brand `Lal Toofan' in the Indian market.
 
           - Shaw wallace & Company Ltd has chalked out a major
 expansion plan
              for increasing its presence in the beer segment with
 four green
              field breweries.
 
           - The Rs. 930-crore Shaw Wallace and Co. Ltd is setting up
 a new
              Web site which will incorporate its e-commerce model.
 
           - The Company has struck its second strategic alliance to
 enhance its
              presence in Nepal's alcoholic beverage market.  The new
 alliance is with
              Singha Brewery Ltd.  SWC had earlier tied up
 manufacturing arrangements
              with Himalayan Breweries in Kathmandu.
 
            - The Company proposed to set up a joint venture, a modern
 winery with a
              chateau surrouned by vineyard close to Bangalore, with
 an initial grape
              crushing capacity of 2,500 tonnes, expandable to 5,000
 tonnes per annum.
 
            - Shaw Wallace, a major alcoholic beverages company of the
 Jumbo Group
              of Manu R Chabria, has entered into a strategic alliance
 with Singha Brewery
              Ltd of Nepal.
 
            - Mr. P.L. Narasimhan, Executive Director of corporate
 finance, Mr. M.H. Godhwani
              and Mr. Shankar Bhattacharya two Non-Executive Directors
 have resigned from
               the board of Shaw Wallace & Company.
 
            - The Company will introduce a two-litre mega pack for its
 flagship premium whisky,
                Royal Challenge.
 
            - Shaw Wallace and Company Ltd. has entered into a
 strategic alliance with the
               Rajasthan-based Rainbow Breweries Ltd.
 
 2001 - The Company to set up four more breweries in Kerala, Madhya
 Pradesh, Goa and Karnataka.
 
             - Manu Chhabria controlled Shaw Wallace & Co. Ltd has set
 up a strategic planning 
               department which will play an active role in taking
 decisions regarding capital 
               expenditure, quality control and setting up new
 projects.
 
             - Shaw Wallace & Co's premium whiskey brand -- Royal
 Challenge which was withdrawn
                from the Delhi market, has been reintroduced.
 
             - Shaw Wallace & Company is setting up breweries in
 Kerala, Madhya Pradesh, West Bengal
               and Karnataka at an investment of about Rs 100 crore.
 The first move to have a
               footprint in every state.
 
               - Manu Chhabria, the Dubai based chairman of Shaw
 Wallace & Co (SWC), the second largest spirit and                
 beer company in India, is on the look out for a new managing director
 for the company.
 
 2002
 
 -Signs MoS with the companies Employees Union for shifting of its
 registered office from Kolkota to Maharashtra, which is accepted by
 Kolkota High Court.
 
 -Shaw Wallace Employee Federation Union withdraws all the petitions
 against the company 
 
 -Decides to set up a joint venture with India Breweries and sign
 capacity leasing contract to help to improve its brewing capacities.
 
 -Dubai based M R Chabria group decides to acquire the entire 60.93%
 shares in the company.
 
 -Senior Executive of the company, Mr A K M A Shamsuddin joins
 McDowell as the Chief Operating Officer of the company.
 
 -Mr Vidya Manohar Chabbria appointed as the Chairperson of the
 company.
 
 -SWC faces a tax liability worth Rs.1000 cr.
 
 -Public holding in SWA decreased by 0.5 crs.
 
 -Appoints Mercer Human Resource Consulting for the development and
 implementation of human resource road map.
 
 -Mr Amar Sinha quits the Directorhip of the company
 
 -High court dismisses ad-interim relief petition of McDowell against
 Shaw Wallace and South African Breweries.
 
 -Mr Asif Adil, Mr C K Hazari and Mr R A Shah ropes into the company
 as the new directors.
 
 2003
 
 -Jumbo group nominates Kiran, Komal chhabria on the joint venture
 boardof Shaw Wallace Ccmpany and SABMiller.
 -SABMiller keen on buying strategic shares of Shaw Wallace & Co's
 beer business.
 
 -Enters into a Strategic Joint Venture with Mysore Breweries Ltd.,
 Under which Mysore will hold 50% stake in Shaw Wallace Breweries Ltd
 
 -Company hives off brewing and delisting ops.
 
 -Forays into various wine companies for the import and sale of a
 range of wines in India.
 
 -K K Modi group files a petition over SWC to recover outstandings of
 Rs. 72crs.
 
 -Board approves for the delisting of shares from 4 stock exchanges (
 Delhi, Chennai, Bangalore and Ahmedabad ).
 
 -Acquies 40% market share in the premium and deluxe brandy  mart in
 Kerala.
 
 -Appoints McKinsey to work out a business strategy for its liquor
 business.
 
 -Mr Komal Chhabria, Executive Director Choosen as the winner of the
 Young Achiever's Award 2003 in the field of business instituted by
 the society magazine.
 
 - Investment banking and securities firm, Goldman Sachs, is believed
 to have mopped up some 10 lakh shares representing 2.09% of Shaw
 Wallace & Company (SWC), from the open market.
 
 -Delists shares from Bangalore Stock Exchange, Ahmedabad Stock
 Exchange, Madras Stock Exchange and Delhi Stock Exchange exchanges
 
 -- Shaw Wallace has announced that Mr Deepak Chaudhuri, Head of
 Traditional Businesses, will takeover as the President of the core
 liquor business with effect from April 1
 
 2004
 
 - SWC rolls out 'White Mischief' vodka in TN
 
 -SWC rolls out tamper-proof rum in Kerala
 
 -  Shaw Wallace Agrochemicals Ltd, a subsidiary of Shaw Wallace &
 Company Ltd (SWC), has been changed to SWAL Corporation Ltd, while
 Universal Pesto Chem Industries Ltd has become a subsidiary of SWC
 during fiscal 2003-04. In a bid to further streamline and restructure
 its business, the SWC management has initiated moves to amalgamate or
 merge at least 19 subsidiaries and associate companies of the Shaw
 Wallace group.