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History of Hi Tech Gears Ltd.

YEAR EVENTS 1986 - The Comp. was Incorporated, & the Comp. is engaged in the manufacture of gears. The Comp. is promoted by Mr. Deep Kapuria. The Company product cater to requirements of Maruti Udyog Ltd., Premier Automobiles Ltd., Hindustan Motors limited etc.

- The Comp. has set up a backward integration project for manufacture of precision not/cold die extruded forgings, at its existings plant site at Bhiwadi.

1992 - 7,84,000 No. of Equity shares of Rs. 10/- each for cash at premium of Rs. 15/- per share aggregating to Rs. 1,96,00,000/- on Rights Basis to the existing equity shareholders of the Comp. in the ratio of 7 equity shares for every 10 existing fully paid up equity shares held in the company.

- The Rights issue, upto 39,200 No. of equity shares of Rs. 10/- for cash at a premium of Rs. 15/- per share aggregating to Rs. 9,80,000/- will be offered to the employees of Comp. by way of Firm Allotment.

- The Comp. has installed sophisticated machineries, with PLC & CNC which consumes regulated energy.

1993 - During the year, the Comp. had hectic activity both in the capital market front as well as implementation of import substitute forging project in the shape of backward integration of activities.

- During the year, working of Comp. marginally declined in view of continued recession in the Automobile Industry.

- The Comp. came out with Rights Issue of 9,36,600 No. of Equity Shares of Rs. 10/- each at a premium of Rs. 12.50 per share aggregating to Rs. 210.74 lakhs which was opened for subscription on 13th April 1993 & closed on 22nd May 1993.

- The Comp. entered the Capital Market for raising funds when the whole Market was in the Grip of Bears & the investors in general were facing resource constraints.

1996 - Lt. Gen J.K. Khanna [Retds] & Mr. G.D. Dutta Directors of Comp. retire at the ensuing Annual General Meeting.

1997 - The Comp. has also achieved the ISO 9002 accredition.

- Mr. Anil Khanna & Lt.Gen[Retds] J.K. Khanna, Directors of Company are retiring by rotation, being eligible offer themselves for re-appointment.

- The Comp. has acquired the latest design software which are helpful in developing the gears for most advanced automobiles.

1998 - Sh. K.L. Kalra, Directors of Comp. is retiring by rotation, being eligible offer themselves for reappointment.

- The Comp. has installed Power Factor Capacitors to regulate the phase wise current & optimise the usage of electricity.

1999 - The Comp. is developing markets in Germany & is increasing its business in U.K.

2000 - Hi-Tech Gears limited has joined hands with Getrag Gears of US to establish a joint venture for manufacturing timing gears.

- The Comp. has entered into an agreement with National Securities Depository Limited in accordance with the provisions of Depositories Act, 1996 which is now fully operational & the members may avail of such facility.

2007

-Hi-Tech Gears limited has appointed Mr. Deepak Rai, as Chief financial Officer of Comp. w.e.f. June 16, 2007 i.e. the date of board meeting.

2008

- Hi-Tech Gears limited has appointed Mr. Ashish Tandon as new Chief Financial Officer of Comp. w.e.f. April 09, 2008.