Varvee Global Ltd.

Amtex India Private Limited was incorporated on 28th March 1988 and
 the commercial production of Denim fabric was started in 1989.  The
 company was converted into a Public Limited company and the name was
 changed to Amtex India Limited vide special resolution passed u/s
 21,31,44 (2)(b) at the Companies Act, 1956 on 2.4.1992 and the
 company obtained a fresh certificate of incorporation consequent to
 the change of name to Aarvee Denims & Exports Limited on 7.4.1994.
 
 The company set up facilities for dyeing 21.6 lac metres per annum of
 yarn and processing of 12.96 lac metres per annum of grey fabric at
 Village Ranipur, Narol, District Ahmedabad.  The cost of the project
 was Rs.86 lacs and was financed by term loans of Rs.40 lacs from
 State Bank of Hyderabad, equity share capital of Rs.24 lacs and
 unsecured loans of Rs.22 lacs from the promoters.  The company
 commenced commercial production of denim in 1989.  In 1991-92, the
 company set up facilities for weaving 7.02 lac metres per annum of
 fabric at a cost of Rs.26 lacs.  In 1992-93 the company undertook an
 expansion project for increasing the yarn dyeing capacity from 21.6
 lac metres to 81.6 lac metres per annum and the weaving capacity from
 7.02 lac metres to 39 lac metres per annum.  The cost of the expansion
 project was Rs.919 lacs and was financed by equity share capital of
 Rs.700 lacs (Promoters - Rs. 250 lacs, Public - Rs.450 lacs),
 internal accruals of Rs.79 lacs and deferred credit facilities of
 Rs.140 lacs from IDBI.
 
 During 1993-94, the company installed 4 additional Lakshmi Airjet
 looms (financed through internal cash accruals) to increase the
 weaving capacity.  In order to further remove the bottleneck in the
 weaving capacity, the company has imported 34 second hand Tsudakoma
 and Suizer Airjet looms at a cost of Rs.300 lacs financed by an
 equipment loan of Rs.300 lacs from SCICI, increasing the weaving
 capacity to 82.35 lac metres per annum.
 
 In order to increase the Dyeing and Weaving capacity from 21.60 lac
 metres and 7.02 lac metres respectively to 81.60 lac metres and 41.68
 lac metres respectively, the company came out with a Public issue in
 November 1992.  The project which involved installation of Air Jet
 Weaving Machines. Yarn Dyeing and Sizing Machines and Spindle Driven
 Warpers etc.  The company's Indigo Denim Fabrics are sold under the
 brand name `Amtex Indigo Blue Denim'.
 
 2007
 
 -Aarvee Denims signs MoU with Government of Gujarat.
 
 
 2008
 
 - The company hereby appoints Mr. Amish Shah as Company Secretary.
 
 
 2009
 
 - Mr. Utsav Pandwar, has joined as a Financial Controller of the
 Company.
 
 -  The Board has approved the proposal of payment of an interim
 dividend on equity shares @ 5% i.e. Rs. 0.50 per equity share for the
 year.
 
 
 2010
 
 - The Board has declared an interim dividend on equity shares @ 5%
 i.e. Rs. 0.50 per equity share for the year.
 
 
 2011
 
 - Aarve Denim - Repurchase of US$ 3.5 million 0% Coupon Convertible
 Bonds Due.
 
 
 2012
 
 - The Board of Directors of the Company has declared interim dividend
 @ 5% i.e. Rs. 0.50 per equity share for the year.
 
 2013
 
 -Aarvee Denims & Exports Ltd has informed that the registered office
 of the Company has been changed from old address to 191, Shahwadi,
 Near Old Octroi Naka, Narol Sarkhej Highway, Ahmedabad - 382405,
 Gujarat, India.Tel No: 079 - 30417000 Fax: 079 - 30417070.
 
 2014
 -Company has appointed Mr. Hardik Modi as Company Secretary cum
 Compliance officer of the Company.