Woolworth (India) Ltd.

The Company was incorporated in the State of W. Bengal on 11th August,
 and obtained the Certificate of Commencement of Business on 18th
 August.  It was promoted by N.R. Lohia, Ajay Prakash Lohia of the
 Uniworth Group that has wide interest in Agro Chemicals, Steel etc.
 and Madhya Pradesh Audhyogik Vikas Nigam Ltd. (MPAVN).  The Main
 object of the company is to manufacture worsted wool and blended spun
 yarn.
 
 The Company undertook to set up a 100% Export Oriented Unit (EOU) for
 the manufacture of Worsted spun yarn (Pure wool and wool  blended with
 one or more polyester, viscose, silk fibre) with a capacity of 7.87
 lakh kgs. per annum.
 
 
 1990 - The Company undertook to double its production capacity.  The
 
        company's silk division was at an advanced stage of
        implementation in split locations - degumming unit at Malda in
 W.
        Bengal and spinning unit at Raipur in M.P.  The spinning
 facility
        reached an advanced stage of implementation.
 
      - The company had a technical collaboration with Cascami Seta,
 one
        of the world leaders in Silk Technology for silk/noil spun
 yarn
        project.
 
 1991 - 700 No. of equity shares subscribed for by signatories to the
        Memorandum of Association, 116,39,300 No. of equity shares
 then
        issued at par of which the following were reserved and
 allotted:
 
      - (i) 32,50,000 shares to NRIs on repatriation basis;
 
      - (ii) 13,89,300 shares to Indian resident directors, their 
        friends, etc. and
 
      - (iii) 5,00,000 to MPAVN.  Of the remaining 65,00,000 shares,
 the
        following were reserved for allotment on a preferential
 basis:
 
      - (i) 9,00,000 shares to mutual funds (all were taken up) and
 (ii)
        5,82,000 shares to employees (including Indian working
        directors)/workers of the Company (all were taken up). 
 Balance
        50,18,000 shares were offered for public subscription during
        October 1990 (all were taken up).  Additional 17,46,000
 shares
        allotted to retain oversubscription (7,52,700 shares to the
        public 2,22,300 shares to Mutual Funds and employees and
 7,71,000
        shares to the promoters).
 
 1992 - The company had promoted Uniworth International Ltd. to
 develop 
        global marketing network for exports and to promote new
        manufacturing ventures in India and abroad.
 
      - The Company undertook to double its silk spinning capacity to
        6400 spindles and also 320 spindles with open end process
 were
        being installed for spinning fine quality noil yarn to
 achieve
        higher value addition.
 
      - The Company proposed to further expand the worsted yarn
 capacity
        to 20,992 spindles by installing 3200 spindles with necessary
        balancing equipments to optimise its capacity and improve
        productivity.  The Company also have plans to establish a
        complete range of dyeing facilities including computerised
 colour
        matching equipments.
 
      - The Company also promoted another 100% EOU under the name
        Fabworth (India) Ltd., to manufacture four million metres
 premium
        quality woollen/silk fabrics per annum for exports.
 
      - During February, the Company issued 33,46,500-12.5% partly
        convertible debentures of Rs 90 each on Rights basis in the
        propn. 25 debentures: 100 shares held.  Additional 5,01,975
        debentures were allotted to retain oversubscription.
 
      - Simultaneously another 1,76,100-12.5% debentures were offered
 to
        employees on an equitable basis.  Additional 26,415
 debentures
        were allotted to retain oversubscription.
 
      - Part A of Rs 10 of the face value of each debenture was to be
        converted into one equity shares of Rs 10 each at par on the
 date
        of allotment of debentures.  Accordingly 40,50,990 shares
 were
        allotted in April.
 
      - Part B of Rs 30 of the face value of each debenture was to be
        converted into one equity share at a premium not exceeding Rs
 20
        at the end of 20 months from the date of the allotment of
        debentures.
 
      - Part C of Rs 50 of the face value of each debenture was to be
        redeemed in 3 annual instalments at the end of 7th, 8th and
 9th
        year from the date of allotment of debentures.  The issue was
 to
        part finance Company's expansion programme of spun silk yarn
 and
        worsted yarn.
 
      - Subject to necessary approvals being obtained, the company
        proposed to issue rights equity shares of Rs 10 each at a
 premium
        not exceeding Rs 50 per share in the proportion of 1:2.
 
 2002
 
 -Uniworth Ltd has informed that Mr Santosh Kumar Jain has resigned as
 a Director of the Company w e f July 23, 2002 and Mr K Darbari has
 resigned as a Director of the Company w e f June 30, 2002. The
 Company has further informed that Mr Anand Gopal Bhatnagar has been
 appointed on the Board as Additional Director w e f July 25, 2002.
 
 2013
 
 - The Registered Office of the Company has been changed to Green
 Acres, 2, Nazar Ali Lane, FIat - 4A, Kolkata - 700 019 from Uniworth
 Centre, 70A, Shakespeare Sarani, Kolkata - 700 017.