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History of DPIL Ltd.

YEAR EVENTS 1976 - The Comp. was incorporated on 24th December, with the object of acquiring through amalgamation, the entire business and undertaking of Darjeeling Co. Ltd., UK., who were carrying on for many years, the business of tea planters. The Certificate of Commencement of Business was obtained on 12th April, 1977. The objects and activities of Co. is cultivation of tea plantation. The Co. owns four tea estates all of which are situated in the Darjeeling district of West Bengal.

1977 - The Darjeeling Co. Ltd., U.K. was merged with the Co. with effect from 1st January.

1979 - 7 shares subscribed for by signatories to the Memorandum of Association & 4,44,000 shares allotted to the shareholders of The Darjeeling Co. Ltd., U.K. without payment in cash pursuant to the Scheme of Amalgamation. 1,55,993 shares offered at par for public subscription during Oct.-Nov. 1978.

1988 - The performance of Co. suffered due to a 40 day industry wide strike at gardens.

1992 - The Comp. was adversely affected by severe drought conditions prevailing in the entire Darjeeling district for major part of year alongwith sporadic stoppages of work at the tea estates consequent to political turbulence in that area.

1996 - Moondakotee Industries limited having two gardens namely Moondakotee & Dhajea Tea Gardens was amalgamated with the Company.

- Pursuant to the Scheme of Amalgamation, the Comp. had allotted 8,00,000 No. of equity shares of Comp. at par to the shareholders of erstwhile MIL in the ratio of one equity share of Comp. for every three equity shares of erstwhile MIL.