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History of Automotive Stampings & Assemblies Ltd.

YEAR EVENTS 1990 - The Comp. was incorporated on 13th March, & received the Certificate of Commencement of Business on 14th September. It was promoted by S.K. Arya & associates & Haryana State Industrial Development Corporation limited [HSIDCs]. The Comp. is engaged in developing tools, dies & moulds for various original equipment manufacturers of automobiles & other products on tool room machinery leased from Gurera Gas Cylinders Ltd., a group company. The existing plant has a capacity of 3,500 tonnes p.a. in Ahmedabad, Haryana & is engaged in the manufacture of sheet metal components, tools & dies. Operations for tools commenced in 1990 & that for sheet metal & components in 1994.

- The company objects is engaged in developing tools, dies and moulds of automobiles & other products & steel metal and components.

- The Comp. also took on lease vide an agreement entered into with GGCL dated 1.10.1990 tool room machineries viz. hydrawn surface grades, radial drill, etc. on a monthly rent for 61 months ending in 1995.

1994 - The Comp. undertook to set up facilities at Faridabad, Haryana for manufacture of sheet metal components with a capacity of 3500 tpa. Most of plant & machinery were procured & installed Niz 2 of mechanical processes, shearing machine, radial dull & material handling machinery. 1995 - The Comp. developed large size dies for `Opel Astra' & `Jogna' vehicles.

- 6,65,200 shares allotted to promoters. 25,34,800 shares were then issued at par during March 1994 of which the following were reserved for allotment on a preferential basis: - [is] 6,94,800 shares to Indian resident directors, their friends & relatives;

- [iis] 2,40,000 shares Haryana State Industrial Development Corporation [HSIDCs] [all were taken ups];

- [iiis] 5,00,000 shares to ICICI [all were taken ups];

- [ivs] 15,000 shares to employees [only 12,400 shares taken ups]. Balance 10,85,000 shares along with 2,600 shares not taken up under preferential allotment issued to the public [all were taken ups].

1996 - The Comp. commenced supplies of oil pumps to TEICO from its new unit at Bhosari, Pune. A double action 1000 T press was installed. Further, paint shop & weld shop were also set up. In addition five heavy presses in the capacity range of 1000 tonnes & 800 tonnes purchased from General Motors, USA were also to be installed.

- Construction activities were in progress at the second unit being set up at Chakan near Pune. Presses of capacity 1500 tonnes and 630 tonnes were to be installed.

- During July-August, the Comp. issued 25,60,000 - 15% fully convertible debentures of Rs.75 each on Rights basis in prop. 4 debentures: 5 equity shares held. 20,45,878 debentures taken up. 4,20,000 debentures were underwritten & 94,122 debentures were allotted at the discretion of management.

- Part A of Rs.30 of each debenture was converted into one equity share of Rs.10 at a prem. of Rs.20 per share. Accordingly, 25,60,000 shares allotted.

- Part B of Rs.45 of each debentures was to be converted into 1 equity share of Rs.10 each at a prem. of Rs.35 per share at the end of 17 months from the date of allotment of debentures.

2003

- Mr. Sanjiv Kumar has been appointed as 'Manager' u/s 269 of Companies Act, 1956 with designation 'Chief Executive Officer'

-The name of JBM Tools Limited changed to Automotive Stampings & Assemblies Limited. & the trading symbol of JBM Tools Limited changed from JBMT to ASAL

2004

-Automotive Stampings And Assemblies Limited has informed that Tata Autocomp Systems Limited has acquired 49,77,779 equity shares of Automotive Stampings & Assemblies Limited [ASALs] representing 48.809% of share capital of ASAL.

2005

-Appointed as Chief Executive Officer

2007

-Automotive Stampings And Assemblies Limited has appointed Mr. Nagaraju Srirama, Chief Executive Officer of Comp. as a 'Manager' under section 269 of Companies Act, 1956 with effect from 16th February, 2007.

-Automotive Stampings and Assemblies Ltd has appointed Mr. Francisco Jose Riberas Mera & Mr. Francisco Lopez Pena as Additional Directors of Company, w.e.f. October 01, 2007.

-Automotive Stampings and Assemblies Ltd has appointed Mr. Pradeep Mallick as a Director of Comp. w.e.f. December 28, 2007. Mr. Mallick is an Independent Director on the Board of Company.

2008 - Automotive Stampings and Assemblies Ltd has appointed Mr. R S Thakur as a Director of Comp. with effect from April 29, 2008.