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History of Atlas Cycles [Haryanas] Ltd.

YEAR EVENTS 1950 - The Comp. was incorporated on 31st May, at Sonepat.

- The Company objects is to manufacture bicycles & bicycle components & parts. Some of trade names used by the Comp. are `ATLAS', `ARMY', `EASTERN STAR' & `ZEBRA'. The factory is located at Sonepat, near Delhi, & the factory buildings cover an area of about 2,50,000 sq. ft.

- The capital structure in 1956. 3,144 pref. shares fully paid-up 160 pref. shares 90% paid-up 255 pref. shares 50% paid-up.

1969 - The Comp. sponsored a scheme for manufacture of powered bicycles in technical collaboration with S.A.C.E.M. of France, one of largest manufacturers of powered bicycles under the trade name `Velosolex'.

- 1,10,000 bonus equity shares issued in the prop. 1:2.

1970 - A new Comp. under the name & style of Atlas Auto-Cycles Ltd., was registered as a subsidiary of Comp. for this purpose on 9th March. This Comp. was to manufacture 50,000 powered bicycles per annum. The Comp. obtained Governments approval for investing Rs.10 lakhs in the equity capital of Atlas Auto-Cycles Ltd.

1971 - The Collaboration agreement for manufacture of powered bicycles was unilaterally terminated by foreign collaborator on technical grounds.

1972 - In January, the factory entered into a technical collaboration agreement with an Iranian party who proposed to manufacture bicycles & bicycle parts. The Comp. was to supply technical know-how etc. in consideration of some technical fees payable by the Iranian party.

- The Comp. also entered into another 10 year collaboration agreement with the National Development Corporation of Tanzania for manufacture of bicycles in that country. This agreement was transferred to The National Bicycles Co., limited Tanzania.

1977 - 2,00,000 bonus equity shares issued in prop. 5:11.

1978 - 1,10,000 bonus equity shares issued in the prop. 1:3.

1979 - Punjab & Haryana High Court approved the amalgamation of this subsidiary with the Comp. with effect from 1st January.

- Authorised capital reclassified. 7,579 - 11% pref. & 1,29,337 No. of equity shares allotted to members of Atlas Auto-Cycles, limited without payment in cash upon its merge with the company.

1985 - The Comp. went ahead with its tube mill project at Gurgaon [Haryanas]. A factory with a production capacity of 10,000 TPA of tubes, was under construction.

1986 - Land & buildings of Comp. were revalued as on 30th June, & the net surplus of Rs 789.06 lakhs arising out of this was credited to capital reserve.

1987 - 3,84,668 bonus equity shares issued in the prop. 1:2.

1990 - 6,856 - 11% pref. shares were redeemed as on 31st March, 1991.

1991 - 723 - 11% pref. shares redeemed. 4,71,250 No. of equity shares issued on part conversion of pref.

1992 - The Comp. issued 494550 - 15% PCD of Rs.200 each on Rights basis. Of these Rs.130 of face value of each debenture was converted into one equity share of Rs.10 each at a prem. of Rs.120 per share. Accordingly 471250 shares allotted.

- Balance Rs.70 of face value of each debenture was to be redeemed at par in three instalments of Rs.25, Rs.25 & Rs.20 at the end of 7th, 8th & 9th year respectively from the date of allotment of debenture ie., on January 2000, 2001 & 2002 respectively.

1994 - A sophisticated latest technology tube mill for rolling bigger dia tubes was installed & commissioned.

- During October, November the Comp. issued 8,25,000 - 12.5% second non convertible redeemable debentures of Rs.200 each with detachable warrants.

- Rs.200 of face value of each debenture was to be redeemed in three equal instalments at the end of 7th, 8th & 9th year respectively from the date of allotment of debentures ie., November 2000, 2001, and 2002 respectively.

- Each warrant entitles the holder to apply for one equity share of Rs.10 each at a prem. of Rs.230 per share between expiry of 12 months from the date of allotment of debentures.

- 8,12,627 bonus equity shares issued in prop. 1:2.

1995 - A number of new sizes were added to the existing product range. A godown was opened in Delhi and at Pune for sale of tubing.

1996 - The performance of second bicycle plant at Sahidabad showed an upward trend mainly due to the newly introduced `Laser' series of bicycles & aggressive marketing strategies etc.

- The third bicycle unit with a modern state-of-the-art plant is situated on 16 acres of land at Malanpur, district Bhind, Gwalior. It has fully automatic computer controlled debrassing pre-treatment & paint plant. Overhead conveyors running into kilometers have been provided for improved material handling. Also, specially designed ramps have been provided for loading & unloading of trucks.

- 7,87,937 No. of equity shares allotted [prop. Rs.5 per shares] against detachable warrants along with 12.5% Right NCDs of Rs.200 each.

2000 - Noted Industrialist & Atlas Cycle Industries limited president Bishamber Das Kapur passed away on 16th August night at the Escort Heart & Research Institute.

2001 - The name of Comp. be changed as `Atlas Cycles [Haryanas] Ltd'.

2004

- Atlas ropes in Sunil Shetty, Sania Mirza as brand ambassadors