History of ATV Projects India Ltd.
YEAR EVENTS 1987 - The Comp. was incorporated on 26th February, at Mumbai with the object of taking over Anand Tanks and Vessels Pvt. Ltd., a company executing projects on a turnkey basis under a scheme of amalgamation.
- Anand Tanks and Vessels Pvt. limited was amalgamated with the company effective 28th September.
- The main object and activities of Comp. include fabrication & manufacture of full range of tanks & vessels for sugar & other industries, manufacture of effluent treatment plants, fuel oil handling systems, LPG storage installation and LPG bullets used for transportation of liquid petroleum gas and undertaking turnkey projects for petrochemicals, pharmaceuticals etc.
- As per the Mumbai high court order dated 18th June, Anand Tanks & Vessels Pvt. Ltd ., was amalgamated with the Company, with effect from 1st April.
- As per the terms of Scheme of Amalgamation, the Company allotted 6,20,000 No. of equity shares of Rs.100 each [subsequently subdivided into shares of Rs.10 eachs] to the shareholders of erstwhile Anand Tanks & Vessels Pvt. Ltd., without payment in cash.
- An agreement was signed with Ishiwakajima Harima Heavy Industries Co. Ltd., Japan for expansion & modernisation of Mathura works to undertake manufacture of equipment for high-tech process industries like petroleum, petro-chemical, power, fertilisers and for welding & fabrication of exotic metals.
- The Comp. was selected as a joint co-promoter by Pradeshiya Industrial & Investment Corporation of U.P. limited [PICUPs] for the setting up of plant with a licenced capacity to manufacture 5,000 tonnes per annum of MMA monomer & 6,000 tonnes per annum of PMMA products.
- In the power field & agreement was signed with M/s. SEMT - Pielstick of france to produce & supply generating sets rated from 6 MW to 20 MW.
- As on 30th September Company land, building, plant & machinery were revalued & the net surplus of Rs.166,49 lakhs, arising out of this was credited to the revaluation reserve.
1988 - The Comp. installed additional facilities with respect to expansion of main factory builiding, installation of additional equipments & improved site facilities. Also in order to gear up the Mathura unit into a full fledged in-house manufacturing facility, certain balancing & modernising equipments were added.
- Simultaneously with the public issue of convertible debentures the then shareholders of Comp. offered for sale to the public out of their holding 5,00,000 No. of equity shares of Rs.10 each at a premium of Rs.8 per share as follows.
- 1,00,000 shares on preferential basis to non-resident Indians on repatriation basis [only 97,700 shares taken ups];.
- 25,000 shares on preferential basis to employees [including Indian working directorss]/workers of Comp. [only 700 shares taken ups].
- 3,75,000 shares along with the unsubscribed portion of 26,600 shares out of preferential quota were offered for public subscription all were taken up.
- The Comp. issued 6,00,000-14% convertible debentures of Rs.130 each [`A' Seriess] for cash at par of which the following were reserved for allotment on perferential basis.
- 1,20,000 debentures to non-resident indians on repatriation basis [only 5,340 debentures taken ups]. The balance 4,50,000 debentures, along with the unsubscribed portion of 1,44,560 debentures from the preferential quota, was offered for public subscription during January [all were taken ups].
- The convertible portion of Rs.30 of each debenture was converted into 2 equity shares of Rs.10 each at a premium of Rs.5 per share on the expiry of six month from the date of allotment i.e. 16th March.
1989 - The Comp. signed a technical collaboration agreement with Dedini S.A Mettalurgica of Brazil for manufacture of bagasse-based boilers which are to be used in sugar plants.
- The Comp. issued 20,28.667-14% secured fully convertible debentures of Rs.150 each of which 9,73,535 debentures ['C' Seriess] were offered on rights basis as follows.
- 3,73,535 debentures to the existing convertible debenture holders [`A' Seriess] in the proportion 1:1 [Only 8,49,261 debentures were taken up under the rights issue.
- Out of balance 10,75,132 debentures 6,69,798 debentures were reserved for preferential allotment as follows.
- 6,00,000 debentures to financial institutions, banks, mutual funds & others [only 3,56,560 debentures were taken ups].
- 69,798 debentures to employees/workers of Comp. [only 21,333 debentures taken ups] & the balance 48,465 debentures along with 3,67,741 debentures not taken up under rights issue & preferential quota for financial institutions were offered for public subscription during October all were taken up.
- As per the terms of issue, Rs.30 of each debenture was converted into one equity share of Rs.10 each at a premium of Rs.20 per share at the of 6 months form the date of allotment i.e. 15th December.
1990 - The Comp. signed a technical Know-how agreement with Filex Corporation, Houston, USA, for manufacture of thermoplastic elastomers with a capacity of 20,000 tpa.
- Under the agreement, the collaborator was to supply the process, know-how, services of experts, training, start-up and commissioning assistance as well as assistance for the development, application & marketing for product.
- The Comp. acquire 50 acres of land at villages Balasai and Godsai near Nagothane in the Raigad district of Maharashtra.
- Accordingly 20,00,202 No. of equity shares were allotted on 15th June. The balance Rs.120/- of each debenture was to be converted into such number of equity shares any time within three years from the date of allotment at a price to be dicided by CCI.
- Subsequently the Comp. opted for an early conversion. Accordingly, CCI permission was obtain in July to convert each block consisting of 10 debentures of Rs.120 of each into 35 equity shares of Rs.10 each at a premium of Rs.24.28 per share with effect form 1st Januray, 1992.
- The issue was made to meet the cost of modernisation & expansion of Companies plan at Mathura as also to raise resources required to assist turnkey projects & provide longterm working capital. 1991 - The Comp. entered into a fresh agreement under which the Comp. would act in consortium for supply of equipment and services in respect of orders negotiated by French Comp. with Electricity Boards in India.
The Comp. entered into an agreement with a Dutch organisation, Stock Industrial Engineering B.V. for manufacture of three roller mills which give a higher efficiency & output for sugarcane crushing in sugar plants.
- The Comp. entered into a joint venture agreement for a project with two leading industrialists of Malaysia to set up an integrated sugar complex comprising of sugar plantation, sugar mill & other related facilities.
- The joint venture agreement envisages that the company, as a foreign shareholder will hold 50% of equity capital of the new Comp. Gula Sabah Sdn. Bhd.
- The balance Rs.100 of each debenture was converted into 2.9 equity shares of Rs.10 each at a premium of Rs.24.48 per share on 16th March. Accordingly, 29 equity shares were issued for every block of 10 debentures.
1992 - Thermoplastic Elastomer the Comp. undertook to set up a plant at Nagathane Dist. Raigad, Maharashtra for manufacture of 20,000. TPA of thermoplastic elastomer, a product that finds application in industries such as footwear, automobiles, cables, adhesives, moulded luggage etc.
- Further expansion of compounding facility was proposed to be set up at Silvassa. Technologists of project were trained at Applicazioni Plastiche Industrial s.p.a., Italy.
- The Comp. had set up a joint venture in the name of Gula Subah Sdn Bhd with two leading industrialists of Malaysia wherein the foreign shareholder was to hold 50% in the equity share of the joint venture. Pending certain clearances from the Malaysian government, further implementation of joint venture was kept in abeyance.
- The Comp. entered into an agreement with a Dutch Organisation Stock Industrial Engineering B.V., for manufacture of Three Roller mills that given higher efficiency & output for sugarcane crushing in sugar plants.
- The Comp. has also an arrangement with SEMI-PIELSTICK, France for promotion of sales of multi-fuel generating sets manufactured by French Company.
- The Comp. was promoted to undertake manufacture of 1,20,000 TPA of purified Terephthalic Acid at Chatha, Dist, Mathura, U.P.
- The Comp. issued 50,59,400 15% secured fully convertible debentures of Rs.192 each [`D' Seriess] of which 13,45,300 debentures were offered on right basis to the existing shareholders in the ratio of 12 debentures for every 100 equity shares held. [All were taken ups].
- Out of remaining 37,14,100 debentures to NRIs, off-shore mutual funds, multilateral financial institutions, etc., on repatriation basis [only 2,69,875 debentures taken ups] and 2,53,000 debentures to employees/workers of Comp. [only 2,035 debentures taken ups].
- The balance 25,81,100 debentures along with 8,61,090 debentures not taken up by NRIs, etc., & employees/workers were offered for public subscription. Additional 7,58,910 debentures were allotted to retain oversubscription [5,57115 debentures to the public & 2,01,795 debentures to the equity shareholders. Allotment of 536 debentures to the shareholders was pending.
- As per the terms of issue, Rs.52 of each debenture was converted into two equity shares of Rs.10 each at a premium of Rs.16/- per share at the end of 6 months from the date of allotment i.e, 5th March.
- The balance Rs.140/- of each at a premium of Rs.25/- per share at the end of 18 months from the date of allotment. The issue was made to part finance the cost of Thermoplastic Elastomer project.
1993 - The Mathura Division manufactured two stage electrostatic desalter of 5.5 million tonnes capacity for Mathura refinery of the Indian Oil Corporation Ltd.
- Based on the technical know how secured from Stock international, the division manufactured Roller Crane Crushing Mill for Akola sugar factory. - Project & Construction Division was expanded, all the system computerised & modernised & its capacity was strengthened to execute projects.
- The petro pipe division was being developed at Mathura works.
1994 - After switching over to computerised design system. Project and Construction Division tied up renowed engineering companies in the field of oil, gas & power for bidding & execution of international tenders.
- International Division has been set up for global contacts. The first step is to enter into world market where products cycles are very short.
- The Comp. undertook to set up its own TPE compounding unit at Nagothane, consisting of 5 lines & 15000 TPA capacity.
- The Comp. undertook to set up a plant for manufacture of sugar & another for Dairy products, 60 acres of land was acquired at Mant, U.P
2008
-ATV Projects India Ltd has appointed Shri. Harish Chandra Gupta as Director of Comp. with immediate effect.
