History of Him Containers Ltd.

YEAR EVENTS 1980 - The Comp. was incorporated on 26th March, at Assam. The Comp. was promoted by M.P. Ghose a Indian Carbon, limited A 100% export oriented project for manufacture of 5000 nos. per annum of marine freight containers was set up at Haldia, a notified backward area in the Midnapore District of W. Bengal. The main objective of Comp. is to manufacture various types of containers.

- The Comp. entered into collaboration agreements with Graaff KG & Tectrans GmbH services & marketing support. They were paid a sum of DM 2,00,000 out of total payable sum of DM 3,00,000 for technical know-how, drawings, technical services & procurement of advice for plant. They were also entitled to 4% royalty as per terms of collaboration agreement entered into.

1987 - 700 No. of equity shares each subscribed for by Signatories to Memorandum of understanding & 6,45,000 shares allotted to Indian promoters C and C Investments limited 19,34,300 No. of equity shares then issued at par of which the following shares were reserved & allotted

- [is] 6,54,300 No. of equity shares to promoters, directors, their friends etc. &

- [iis] 1,00,000 shares to foriegn collaborators.

- Of the balance 11,80,000 shares, the following shares were reserved for allotment on a preferential basis:

- [is] 6,00,000 shares to NRIs on repatriation basis [all were taken ups]

- [iis] 96,700 shares to employees of Comp. &

- [iiis] 21,000 shares to the business associates of Company.

- Out of [iis] & [iiis] only 19,500 shares were taken up. The remaining 4,62,300 shares along with 98,200 shares not taken up under preferential quota were offered for public subscription during January 1986. Additional 2,95,000 shares were allotted to retain oversubscription [1,45,000 shares to public & 1,50,000 shares to NRIss]. 1,300 shares were pending allotment.

1989 - The Comp. came under the provisions of Sick Industrial Companies [Sp. Provisionss] Act, 1985 & as per its requirement a reference to the BIFR was made.

1990 - The Comp. continued to be under the rehabilitation package as finalised by BIFR.