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History of Ceeta Industries Ltd.

YEAR EVENTS 1984 - The Comp. was Incorporated on 31st October, under the name of Ceeta Polymer Products Ltd., & obtained the Certificate of Commencement of Business on 6th November. Subsequently, the name of Comp. was changed to Ceeta Polymers limited on 12th August 1986.

- It was promoted by K.M. Poddar, his friends & associates. Initially, the Comp. had set up a unit for manufacture of synthetic woven fabrics at Balasore of Orissa.

- The Company object is to manufacture synthetic woven fabrics & crimped/air-texturised synthetic yarn.

- The Comp. had signed a Memorandum of Agreement with Rajasthan Petro Synthetics limited [RPSLs], to pass on its expertise to manufacture crimped & air texturised yarn to the Company. As per the terms of agreement RPSL was to provide the necessary know-how, assist in selection of plant & machinery erection/ commissioning of plant & impart trainings to the personnel of Comp. for which no fees is payable.

- The Comp. undertook to set up a unit to manufacture 2650 tpa of crimped yarn & 250 tpa of air texturised synthetic yarn by converting poly propylene partially oriented yarn [PP-POYs] and fully drawn yarn [PP-POYs] into bulk yarn at village Rohikhera in Udaipur District.

1991 - The main plant & machinery were procured indigenously. First phase of unit was implemented & commenced production from 15th February.

- 700 No. of equity shares of Rs.10 each allotted subscribers to the Memorandum & Articles of Association. 63,49,300 No. of equity shares of Rs.10 each then issued of which the following shares were reserved & allotted on firm basis:

- [is] 7,49,300 shares to K.M. Poddar, Promoters etc.

- [iis] 17,50,000 shares to Rajasthan Petro Synthetics limited [RPSLs]; - [iiis] 5,00,000 shares to Canbank Mutual Fund. Out of remaining 3,50,000 shares, 3,35,000 shares to shareholders of RPSL & 3,17,500 to employees were allotted on preferential basis. The balance 26,97,500 shares were offered to the public in April 1991. Additional 9,52,400 shares were allotted to retain oversubscription [4,49,900 shares to promoters, 50,300 shares to employees, 47,600 shares to shareholders of RPSL and 4,04,600 shares to the publics].

1993 - A 100% Export-Oriented granite Cutting & polishing unit at Dist. Tumkur, Karnataka is under implementation.

1995 - The Comp. has diversified its activities by putting up a 100% E.O.U. Granite unit for manufacture of Granite tiles, slabs & monuments etc.

- The name of Comp. was changed to 'Ceeta Industries Ltd.' owing to its diversified activities.