UB Engineering Ltd.

YEAR                       EVENTS
 1970 - The Company was incorporated on 12th January.  The Main object
 of
        the company is to undertake contracts for the execution of
 heavy
        electrical and mechanical works viz., erection of boilers and
        turbines, piping and electrical installation work for power
        projects, equipment and piping installation for fertiliser
 and
        chemical plants, cement plants, sugar plants and other
 industrial
        units and manufacture of napthalene based dye-intermediates
 and
        all other kinds of chemicals.
 
      - In and around 1963, A.S. Wardekar a promoted a partnership
 firm
        in Calcutta by the name Western India Erectors mainly for
        undertaking contract for the execution of heavy electrical
 and
        mechanical construction work.  The Partners of this firm
 decided
        to float a private limited company to carry on the business. 
 It
        was converted into a public limited company on 24th November.
 
 1973 - 1,892 II pref. and 1,20,140 No. of equity shares issued to
        promoters, etc., and employees of the Company, 50,000 I pref.
        shares subscribed for by ICICI at par to the public in
 June-July
        1972.
 
 1977 - 2,40,140 bonus equity shares issued in prop. 1:1 on 30th June
        1978.
 
 1979 - 480,280 No. equity shares issued as rights (prem. of Rs.5 per
        share in the prop. 1:1).  Out of this, promoters were
 entitled
        for 2,42,868 shares but CCI permitted them to take up only 
        50,756 shares.  The balance 1,92,112 shares were offered to
 the 
        public (prem. Rs.5 per share) during Jan-Feb 1980.  50,000 I
        pref., shares redeemed on 21st March 1980.
 
 1980 - 1,892 Preference shares redeemed on 15th October, at par.
 
 1981 - 1,59,999 No. of equity shares issued to at a prem. of Rs.15
 per
        share to financial institutions of conversion of loans.
 
 1982 - The Company undertook to diversify its activities in the field
 of
        electronics and as a first step undertook to manufacture
 `Hybrid
        Integrated Circuits' in technical collaboration with New
 Market
        Micro Systems, Ltd., Cambridge.
 
      - Authorised capital increased.  6,72,336 Bonus Equity shares
        issued in prop. 3:5
 
 1983 - The Company along with Gujarat Industrial Investment
 Corporation
        set up 16 wind mills in Gujarat under the name of Gujarat
        Windfarms, in technical collaboration with Moerop Industrial
        windmill Company, Miscon A/s Raiders Denmark and E Danish
 Wind
        technology, AIS Viborg, Denmark.
   
 1984 - The Company received a Letter of Intent for the manufacture
 of
        message communication terminals in collaboration with Extel
        Corpn., U.S.A.  Necessary foreign currency loans and rupee
 loans
        were sanctioned for the project by ICICI and SICOM.
 
      - Industrial registration and foreign collaboration approval
 was
        obtained for the manufacture of wind turbine generator upto
 200
        KWH rating to Gujarat WIE Windpower, Ltd.
 
      - The Company undertook to set up a joint venture in Saudi
 Arabi
        under the name of Arabian Erectors, Ltd. to execute contract
 for
        erection of mechanical, electrical, instrumentation works and
        civil construction pertaining to the industrial products
 being
        established in that country.
      
      - The Company decided to withdraw from this joint venture
 following
        a new Saudi decree which adversely affected the joint
 venture.
 
      - Following the Company's request, Government approved
 withdrawal
        from the Saudi Joint Venture.  Effective steps were being
 taken
        to complete the necessary formalities.
 
      - A Joint venture company named Industrial Erectors (Oman)
 L.L.C.
        was established in Muscat, Sultanate of Oman executing
 erection
        contracts in Muscat in particular.
 
 1985 - The Company issued 6,15,000-13.5% secured convertible
 debentures
        of Rs.130 each for Rs.799.50 Lakhs.  Out of this, Rs.30 from
 each
        debentures was converted into 2 equity shares of Rs.10 each at
 a
        premium of Rs.5 per share, in January 1991.  The
 non-convertible
        portion redeemable at par in four equal annual instalments of
        Rs.25 each on the expiry of the 7th, 8th, 9th and 10th year
 from
        the date of allotment of the debentures.
 
 1986 - In view of the continued losses incurred by the Chemical
 Division
        a MOU was signed with Amal Rasayan, Ltd., for the sale of the
        chemical unit.
 
      - Between 1986-87 and 1987-89 a number of stand alone products
 and
        new products such as `WIE Expert' and `WIE Processor' were
        introduced in the field of message communication systems.
 
      - The Company's software group developed auto/try time delivery
        feature for its existing WIE writer with a view to improve
 the
        capability of the machine.  The telex machines manufactured
 by
        the Company incorporated indigenous content to a large
 extent.
 
 1987 - The Erection Division had already started execution of
 certain
        jobs valued at around Rs.640 crores.  Posibilities were being
        explored to diversify into allied activities of power sector,
        such as refurbishing and reconditioning of heavy power plant
        equipment, upgradation of technology in metal fabrication
 field
        etc.
 
      - `WIE Estate Development Pvt. Ltd.' became a subsidiary of the
         Company.
 
      - The name of the Company was changed from Western India
 Erectors,
        Ltd., to Western India Enterprises, Ltd., with effect from
 15th
        January, 1986.  During 1993-94 the name was once again changed
 to
        UB Engineering Ltd.
 
 1990 - The Company suffered a set back due to heavy depreciation on
 the
        assets at Kuwait and on account of poor performance of
 Electronic
        divisions.   
 
      - However, with the situation in the Gulf looking up, the
 Company
        was in the process of bidding and negotiating some large jobs
 in
        Saudi Arabia, U.A.E., Qatar, Baharain etc.  In the domestic
        market, a break through was achieved when a contract for hot
        strip mill erection was procured by the Company.
 
      - The Company acquired a liquor division (kay Distillery) of
        `Forbes Campbell & Co.,' with effect from 1st April.  The
        division has been manufacturing Indian made Foreign Liquor
 like
        Royal Guard Whisky, Henkes Whisky, Forbes Dry Gin, etc.
 
 1991 - Turnover of the Erection division declined due to many
 reasons
        such as unremunerative contracts, cost overuns, shortage of
        working capital, low productivity, inflation, etc.
 
      - The Company evaluated the business prospects of the crores
        business of erection and electronics division.  Considering
 the
        good prospects of the said two divisions it was decided to
 sell
        the Liquor division to McDowell & Co., Ltd., for a
 consideration
        of Rs.8 crores.
 
      - The Company discontinued its holding in the joint venture in
 view
        of the sluggishness of the economy and paucity of funds in
 that
        country. 
 
      - 48,15,790 rights shares issued in January (prem. Rs.4 per
 share;
        prop. of 1:1).  Additional 7,10,270 shares allotted to retain
        over-subscription.  Another 2,40,790 shares offered to
 employees
        (prem. Rs.4 per share) but only 6,035 shares taken up.  The
        balance 2,34,755 shares allowed to lapse.
 
 1992 - Also the Company negotiated for supply of man power to
 Zimbabwe
        and Iran for a value of Rs.5 crores.  Orders worth Rs.100
 crores 
        were on hand as at 31st March.
 
      - The Erection Division diversified its activities into turnkey
        jobs, management, prefabrication as well as into steel and
        petrochemical.
 
 1994 - The Erection division secured a Rs.16 crore contract for
        structural erection work at Sabiya power plant, Kuwait from
        Hyundan.  
 
      - In addition, contract for mechanical erection in respect of 8
        boilers of 300MW each for Sabiya Power plant in Kuwait by
        Mitsubishi heavy industries for value of Rs.65 crores was 
        received.
 
      - Also, contract valued at Rs.8 crores was received for
        installation of pipeline at shell refinery in Singapore.  The
        Erection division made its presence felt by signing a
 contract
        with a Japanese company for upgradation of cement plant at
        Nairobi.
 
      - The Electronic division shifted its thrust to defence from
        telecom sector.  An agreement was signed with Eagle
 Aerospace,
        USA for the manufacture of numeric and alpha numeric pagers.
 
 2005
 
 -UB Engineering Ltd has bagged contracts worth Rs 60.35 crore in the
 power and steel sectors. Bharat Heavy Electricals Ltd has given it an
 order worth Rs 10.34 crore for the erection of two units of 250 MW
 each at Punjab State Electricity Boards Guru Hargobind Thermal Power
 Project (Stage II Units 3 and 4), Lehra Mohabbat, Bhatinda; while the
 Haryana Vidyut Prasaran Nigam Ltd has entrusted work worth Rs 27.12
 crore for supply of equipment and erection for turnkey construction
 of 220 kV and 132 kV substations at Bahadurgarh. In the steel sector,
 Essar Construction Ltd has awarded a Rs 14.59-crore order for
 fabrication of structural steel and plate work for their expansion
 projects at Hazira in Gujarat. Jindal Steel & Power has given UB a Rs
 8.3-crore order for mechanical work for its sinter plant project at
 Raigarh, Chhattisgarh.
 
 
 - UB Engineering Ltd has informed that the Company has recently
 bagged turnkey contract worth Rs 880 million from Paschimachal Vidyut
 Vitaran Nigam Ltd, Meerut for rural electrification.
 
 Further the Company informed that the Registrar of Companies, Pune
 has granted extension of time to hold Annual General Meeting of the
 Company (Financial year March 31, 2005) upto December 31, 2005.
 
 2007
 
 -UB Engineering Ltd has informed that the Board of Directors of the
 Company, on December 28, 2007, has approved and adopted the Final
 Letter of Offer including Abridged Letter of Offer for Rights Issue
 to be filed with the Stock Exchange.
 
 
 -The company has issued rights in the ratio of - 5:13 at a premium of
 Rs 116/- Per Share.
 
 -UB Engineering Ltd Issues Rights in the Ratio of 5:13
 
 2008
 
 -UB Engineering Ltd has informed that the Board of Directors of the
 Company at its meeting held on July 31, 2008, inter alia, Ms. Nandini
 Verma has been appointed as an Additional Director on the Board of
 Directors of the Company.
 
 2009
 
 -UB Engineering Ltd has that the Hon'ble High Court of Judicature at
 Bombay on March 06, 2009, has sanctioned the Scheme of Arrangement
 between WIE Estate Development Ltd (WIE), a wholly owned subsidiary
 of UB Engineering Ltd and UB Engineering Ltd (UBEL or the Company)
 and their respective shareholders (the Scheme). Appointed Date of the
 Scheme is January 01, 2009.
 
 The Company and WIE have filed Form 21 with the Registrar of
 Companies at Maharashtra, Pune and accordingly the Scheme has become
 effective from March 30, 2009.
 The Scheme, inter alia, envisages the following:
 
 - Transfer of all the assets and liabilities of WIE to UBEL.
 
 - No issue of shares pursuant to the Scheme as WIE is a wholly owned
 subsidiary of UBEL; and
 
 - WIE stands dissolved without being wound up.
 
 2010
 
 -The Company has floated a Wholly Owned Subsidiary in the name and
 style UB INFRASTRUCTURE LTD.
 
 -Ub Engineering Limited has appointed Mr. Balkumar Agarwal as an
 additional director of the Company.
 
 2011
 
 -The Company has floated a Wholly Owned Subsidiary in the name and
 style UB OSTAN (INDIA) PRIVATE LIMITED.
 
 2012
 
 -UBEL has been awarded the Best Performance Award by BHEL-Power
 Sector Western Region Nagpur, during the Associates' Meet.