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Udaipur Cement Works > Company History > Cement - Major > Company History of Udaipur Cement Works - BSE: 530131, NSE: JKUDYOG

Udaipur Cement Works

BSE: 530131|NSE: JKUDYOG|ISIN: INE225C01029|SECTOR: Cement - Major
Feb 20, 16:00
0.05 (0.44%)
VOLUME 61,230
Udaipur Cement Works is not traded in the last 30 days
Company History - Udaipur Cement Works
J.K. Udaipur Udyog Limited (JKUUL) was incorporated on March 15, 1993
 and obtained Certificate of Commencement of Business on March 24,
 1993 from the Registrar of Companies, Rajasthan at Jaipur.  The
 Company does not have any subsidiary
 JKUUL acquired UCW, as a going concern from BHL w.e.f. December 2,
 1993, with an installed capacity to manufacture 8 lac tonnes per
 annum (tpa) of portland cement
 The assets of UCW consistedof land (freehold land and leasehold
 land), buildings, plant and machinery, equipments, furniture and
 fixtures and vehicles which have been detailed elsewhere in the
 prospectus.  The total purchase consideration paid for the aquisition
 of UCW was Rs. 137.50 crores.  The acquisition was made on the basis
 of a bid process on evaluation of the business.  The landand building
 acquired have been valued by the Government approved Chartered
 Engineers.  The balance purchase consideration has been allocated to
 other assets of the Company which include plant and machinery
 According to the management estimates, the present value of the
 assets acquired are much higher than the purchase consideration paid.
  The purchase consideration (net of loans of Rs 42.60 crores)
 amounting to Rs 94.90 crores is being paid as agreed between the
 company and BHL.  As on 
 date, JKUUL has paid Rs 50 crores to BHL. Of the balance of fls 44.90
 crores, Rs 19.90 crores would be payable on March 1, 1995 and the
 balance as is agreed between the Company, BHL and the Promoter
 The sale of UCW to the Company has been approved by the shareholders
 of BHL vide resolution passed at the Annual General Meeting of the
 company held on 24.09.92. The details of the execution of sale,
 registration of the properties etc. has been discussed elsewhere in
 the prospectus
 The land admeasuring 400 acres situated at Village Nagarmahra, Tehsil
 Mavli, District Udaipur on which UCW is located was assigned in favour
 of the Company on December 1, 1993 by way of an endorsementon the
 existing Lease Deed in accordance with the Orders of the State
 Government of Rajasthan and the same was lodged for registration on 
 December 1, 1993
 The Indenture of Conveyance in respect of the factory, office, colony
 and other buildings standing on the said land was executed between BHL
 and JKUUL and lodged for registration on December 1, 1993. The two
 Limestone Mining Lease Deeds (Lease I covering Daroli and a part of
 Manderiya block and Lease II covering the other part of Mandetiya
 block) admeasuring approximately 704.944 hectares and 213.330
 hectares respectively in Vallabhnagar, District Udaipur, assigning
 the said mining leases in favour of JKUUL, were executed between
 Mining Engineer, Mines & Geology Department State Government of
 Rajasthan, Udaipur, BHL and JKUUL and lodged for registration on
 December 3, 1993
 Plant & Machinery of the value of Rs 10 crores has been acquired on
 Lease from BHL, All other moveables i.e., the plant and machinery,
 turniture, fixtures, office equipments and vehicles were acquired on
 December 1, 1993 by simple delivery under receipts passed by the
 Company in favour of BHL
 JKUUL has drawn up a modemisation and debottlenecking programme at a
 total outlay of Rs 49.97 crores as described elsewhere in this
 Prospectus.  As per the ICICI appraisal, the capacity for the year
 ending March 31,1995 will reach a level of 10 lac tpa.
 2002-Nirmalkumar resigns from Directorship of J K Udaipur Udyog.
 -Vinay Bharat Ram resigns from Directorship of J K Udaipur Udyog
 -JK Udaipur Udyog Ltd has informed BSE that the Company has forfeited
 4,96,700 equity shares due to non payment of allotment/call monies.
 -Registered Office of the Company has been shifted From 309, Samod
 Tower, S C Road, Jaipur, Rajasthan to B-54, Triveni Nagar, Gopalpura
 Byepass, Jaipur, Rajasthan
 - Company name has been changed from JK Udaipur Udyog Ltd to Udaipur
 Cement Works Ltd.
 -Registered Office of the Company has been shifted From 309, Samod
 Tower, S C Road, Jaipur - 302001, Rajasthan To E-18, Prem Nagar,
 Jhotwara, Jaipur - 3O2O19 Rajasthan
 - JK Udaipur Udyog Ltd shifted  the Registered Office of the Company
 from E-18, Prem Nagar, Jhotwara, Jaipur- 302 012, Rajasthan to E-2,
 Transport Nagar, Jaipur-302003, Rajasthan.
Source : Dion Global Solutions Limited
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