History of Darshan Oils Ltd.

YEAR EVENTS 1982 - The Comp. was incorporated on 21st May, as a private limited company. The Comp. Manufactures refined oil & vanaspati. The Comp. was converted into a public limited Comp. on 1st May 1992. It was promoted by Avtar Singh, Darshan Singh and Daljit Singh.

1984 - The Comp. implemented 50 TPD batch process refinery at a cost of Rs.95 lakhs.

- 3,22,660 shares issued, subscription & paid up. During April 1993, the Comp. issued 39,27,340 No. of equity shares of Rs.10 each at par of which 13,77,340 shares were reserved & allotted in a firm basis to promoters, Indian resident directors etc. Of the remaining the following were reserved for allotment on a preferential basis:

- [is] 12,800 shares to employees [only 1,200 shares taken ups];

- [iis] 2,55,000 shares to Indian Mutual Funds [None were taken ups]. Balance 22,82,200 shares along with 2,66,600 shares not taken up under pref. quota issued to the public of these 1,93,700 shares not taken up.

1993 - The Comp. undertook to modernise & expand the plants capacity from 50 TPD batch processing to 100 TPD on continuous vegetable oil refinery. The total cost of project estimated at Rs.425 lakhs was met by equity issue of Rs.392.73 lakhs & unsecured loan from public of Rs.32.27 lakhs.

- The Comp. undertook to set up a vanaspati unit of 50 TPD capacity.

1994 - The Comp. proposed to set up a solvent extraction plant of 250 TPD capacity.