Simco Industries Ltd.

YEAR                       EVENTS
 The company was incorporated as a private limited company on 28th
 October, 1986 under the name of Samta Textiles Private Limited.The
 company was converted into a public limited company on 20th February,
 1992.  The company is promoted by Mr. Nawal Kishore Goenka.
 
 The Main objects of the corporation are:
 
 (i) to assist industries in the underdeveloped areas of Maharashtra
 State through grants of long-term loans, underwriting assistance and
 guaranteeing financial assistance from other  financial agencies,
 
 (ii) to sponsor industries in the State in its own in the public
 sector and joint sector,
 
 (iii) to secure and extend marketing support from public sector
 organisations to ancillary industrial units in the State and
 
 (iv) to sponsor basic industrial facilities in major industrial areas
 of the State.
 
 The Corporation evolved a package of services which includes the
 following services:
 
      - (i) Project identification and project promotion;
 
      - (ii) Plant location services;
 
      - (iii) Investment and other supporting guidance for small
 scale
        entrepreneurs;
 
      - (iv) Financial assistance;
 
      - (v) Industrial escort services;
 
      - (iv) Merchant banking service.  In addition, the Corporation
        implements the package scheme of incentives of the State
        Government.
 
 The Corp. is the agent for the Govt. of India's Central Subsidy
 Scheme applicable to Aurangabad, Chandrapur and Ratnagiri districts. 
 Besides, the Corp. is one of the agents for operating the special
 capital incentive scheme introduced by the Maharashtra Government in
 September 1977 as part of the packags scheme of incentives.
 
 1994 - The Company has introduced two new activities like Bills
        discounting and corporate loans.  The Company has secured
        commitments from 317 new entrepreneurs, including 33 NRIs and
        foreign direct investors from industrial projects to be set up
 in
        India.
 
 1995 - The Company has secured commitments of 356 project in
 Maharashtra
        from various entrepreneurs including NRIs.
 
      - The Company has initiated various steps to contribute towards
        implementation of the following projects:
 
      - (i) Participation in the equity capital of Triton Overwater
        Transport Agency Ltd. for providing Hoverfcraft services to
 the
        suburbs of Mumbai and new Mumbai,
 
      - (ii) Signing of MOU with Consortium of International
 Companies
        for Pre-feasibility study for a new International Airport
 near
        Mumbai,
 
      - (iii) Signing of MOU with M/s. Simplex Concrete Ltd. for
        Pre-feasibility study for setting up an International Cargo
        Complex at Nagpur and
 
      - (iv) Signing of MOU with M/s. NEPC Micon Ltd. and others for
        promoting Wind Energy projects.
 
      - The Company has promoted a Housing Finance Company called
        `Shricom Housing Finance Ltd. jointly with Shriram Group of
        Companies.