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History of Asahi Fibres Ltd.

Asahi Fibres limited [AFLs] was incorporated as a Public Limited Comp. on 2nd August, 1993 with the Registrar of Companies Maharashtra at Bombay & obtained the Certificate for Commencement of Business on 20th October, 1993.

AFL main objects are to carry on business as manufacturers, producers, processors, ginners, spinners etc. of cotton & polyester yarn mainly for exports. The Comp. is in the process of setting up an Export Oriented Unit for manufacture of Yarn on rotors at the total cost of Rs.1,297.00 Lacs.

AFL is promoted by Directers of M/s. Akay Filtips Pvt. Ltd., leading manufacturers of Cigarette filters. The main directors of Comp. are Shri A.K. Shah & Shri Amit A. Shah. Shri Amit A. Shah, an M.B.A. from U.S.A. is looking after the affairs of Company.

AFL is being co-promoted by MTM Trading Pte. limited [MTMs], a Comp. incorporated in Singapore, which will be participating in the Equity to the extent of Rs.1.50 Crore.