Vickers Systems International Ltd.

YEAR                       EVENTS
 1965 - The company was incorporated in 18th November, at Mumbai.
        The company  was promoted by Mahindra and Mahindra Ltd.,
 Mumbai
        and the Sperry Rand Corporation, U.S.A.  The main objective
 of
        the company is to manufacture hydraulic pumps and valves, oil
        hydraulic equipment and accessories. 
 
      - The Company entered into an agreement with the Sperry Rand
        Corporation, U.S.A., for technical know-how and other
 services. 
 
      - The collaborators also agreed to supply equipment and
 components
        valued at Rs 25.50 lakhs against their participation for a
 like
        amount in the equity capital of the Company.
 
 1967 - Allotted 7 shares to signatories to Memorandum of
 Association,
        2,55,000 shares to Sperry Rand Corporation of U.S.A. (without
        payment in cash).  1,27,500 shares to Mahindra & Mahindra
 Ltd.,
        and associates.  1,27,493 shares offered to the public in
 May.
 
 1972 - 1,78,460 Rigths shares issued at par in December (prop. 7:20)
 of 
        which 76,283 shares issued to Sperry Rand without payment in
        cash.
 
 1974 - 4,11,540 Rights shares issued at par (prop. 3:5).  Out of
 this, 
        1,50,000 shares issued to Sperry Rand of which Rs. 9,48,130
 was 
        without payment in cash.
 
 1976 - 2,20,000 Bonus shares issued in prop. 1:5.
 
 1982 - The Company received a letter of intent for further expansion
 
        project.
 
      - 4,40,000 Bonus shares issued in prop. 1:3.
 
 1983 - It was converted into an industrial licence and commercial
        production of new products in line with a new agreement
 commenced
        in 1985.
 
 1984 - The non-convertible debentures issued in amounting to Rs. 150
        lakhs were due for redemption during 1991.  Out of these
        debentures, financial institutions extended the period of 
        redemption of their part holdings to the extent of Rs. 77
 lakhs
        for a further period upto 8 years.
 
 1985 - Production and sales during the early part was adversely
 affected
        due to the prolonged lock-out at the Kandivli plant.
 
      - The name of the company was changed from `Vickers Sperry of
 India
        Ltd.' to the present one effective from 28th January.
 
 1986 - 2,40,000 shares issued at par as follows:
 
      - (i) 2,27,338 shares to Indian shareholders as rights in prop.
        4:17;
 
      - (ii) 662 shares to NRI shareholders and
 
      - (iii) 12,000 shares to employees of the Company.
 
 1989 - Three major machines were destroyed by fire besides affecting
        production.
 
 1990 - The plant and machinery damaged in fire were fully replaced.
 
 1991 - The Company entered into a further collaboration agreement
 with 
        Vickers for introducing a range of additional high-tech new
        products in a phased manner.
 
 1993 - On 27th April, the Company issued 19% secured redeemable
        Non-convertible debentures of Rs. 100 each for Rs. 1,00,000
 by
        private placement to UTI.  These debentures are redeemable in
        three equal instalments at the end of 7th and 8th year from
 the
        date of allotment.
 
      - 10,00,000 Right Equity shares issued (prem. Rs. 50; prop.
 1:2).
 
 1994 - During the year the Company was awarded a single largest
 order
        to design and supply hydraulic systems for a slab caster line
 to
        be installed at Bokaro Steel.
 
      - The company suffered a major set back due to lock-out at its
        manufacturing facility at Pimpri for nearly four months.
 
 1996 - During the company has issued 701731 No. of equity shares of
 Rs.
        10 each at a premium of Rs. 50 per share on pref. basis to
 M/s.
        Vickers Incorporated, USA.  With this issue, the shareholding
 of
        Vickers Incorporated USA in the company stands enhanced to
 15%.
 
 2008
 
 - Company name has been changed from Vickers Systems International
 Ltd to Eaton Fluid Power Ltd.