Sylvania and Laxman Ltd.

YEAR                       EVENTS
 1962 - Sylvania & Laxman Ltd. (SLL) was incorporated on 19th June. 
 The
        Company was originally registered under the name of Laxman
        Electrical, Ltd..  Subsequently, financial and technical
        collaboration agreements were entered into with General
 Telephone
        & Electricals International Inc., of U.S.A. (GTE
 International)
        and the name of the Company was changed to the present one.
 
      - The main objects of the Company is manufacture of and dealer
 in
        all types of electrical consumer goods, lighting flurescent
        tubes, incandescent lamps, mainature lamps, etc.
 
      - In July, a technical collaboration agreement was entered into
        with Sylvania Electric Products, Inc., New York.
 
 1965 - 2,00,000 Right shares subscribed for by Indian promoters,
        directors, etc. 3,60,000 shares allotted to Sylvania Electric
        Products Inc. U.S.A. the collaboratores and 2,40,000 shares
        offered to the public in February.
 
 1966 - 2,00,000 Right shares issued at par in prop. 1:4.
 
 1967 - 49,950 No. of equity shares issued at par.
 
 1969 - In July, 1970, 20,000 Pref. shares issued at par through 
        prespectus.
 
 1972 - 4,00,000 Right Equity shares issued (2,20,000 shares to
 Indian
        shareholders and 1,80,000 shares to GTE International,
 U.S.A.)
        4,00,000 Equity and 20,000 pref. shares offered to the public
 in
        April/May 1973.
 
 1975 - 10 Pref. and 13,045 No. of equity shares forfeited.
 
 1976 - The Company revalued its assets as on 30th September, and the
        surplus of Rs.103,592 arising out of it after providing
        depreciation for past years was transferred to capital
 reserves.
 
      - 100 forfeited equity shares either reissued or forfeiture
        annulied.
 
 1981 - 2,00,000 No. of equity share issued at par to financial 
        institutions on conversion of loans.
 
 1982 - 20,000-9.5% Preference shares were redeemed.
 
 1983 - Production of glass tubes also suffered due to shut-down of
 the
        tube draw furnace during October to May 1984 for relining.
 
 1984 - The Company revalued its land and buildings situated at
 68/1-3,
        Najafgarh Road, New Delhi.  The net surplus of Rs.6,62,70,575
        arising out of this was credited to capital reserves.
 
      - The Company decided to expand its capacity for the existing
        products and also to diversify into the allied fields.
 
 1985 - The Company priavtely placed with UTI, LIC and GIC and its
        subsidiaries 15% non-convertible debentures for an aggregate
        amount of Rs.200 lakhs for financing its expansion and
        diversification projects and also to augment long term
 working
        capital resources.
 
      - Gwalior Lamps & Electricals, Ltd., is a subsidiary of the
        Company.
 
      - The Company proposed to introduce Slim line Fluorescent tubes,
 to
        be manufactured at NOIDA.
 
 1986 - A fluorescent lamp project with 33 lakh tubes per year
 capacity
        was implemented at Ajay Electrical Industries, Ltd., Mohali,
        Punjab with the Company's technical support and assistance.
 
      - 9,93,527 bonus shares issued in prop. 1:2.
 
 1987 - During September, the Company commenced manufacture of slim
 line 
        fluorescent tubes at NODIA.  Under the modernisation scheme,
 the
        Company replaced its old Danner tubing line with a new one
        imported from Glass Bulb Ltd., U.K.  
 
      - The Company received Government approval for foreign 
        collaboration agreement with M/s. OY AIRAM AB., Finland. 
 Also
        another letter of intent was received for manufacture of
        additional 120 TPA of fluorescent powder at NOIDA.  An
 agreement
        was entered into with an American company for construction of
 a
        furnace used in the manufacture of fluorescent powder.
 
      - Preference shares redeemed.
 
 1988 - The Company undertook to widen its marketing range of products
 by
        inclusion of durable items like heat convectors, immersion
        heaters and ceiling fans.
 
 1989 - 12,945 forfeited equity shares reissued at par to employees
 and 
        directors of the Company.
 
 1991 - The Company proposed to augment its filament manufacturing
        capacity by installing another coil plant at Noida.