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History of Lactose [Indias] Ltd.

LACTOSE [INDIAs] LIMITED was incorporated on 11th March, 1991 as a Public Limited Comp. in Vadodara District in the state of Gujarat. The certificate of commencement of business was obtained on 5th April, 1991.

MAIN OBJECTS OF THE COMPANY :

The main objects of Comp. are stated in the Memorandum of Association of Comp. & inter alia include the following :-

To carry on the business as manufacturers, manufacturers representatives, producers, processors, refiners, consignors, consignees, factors, agents exporters, importers & distributors of all classes, kinds, types & nature of :

i. Foods whether finished, semi-finished, processed & unprocessed.

ii. Milk, cream, ice-cream, curd, butter, butter milk, paneer, cheese, sweetmeats, chocolates & other dairy products.

iii. Pharmaceuticals, drugs, bulk drugs, medicines.

iv. Chemicals, chemical products, chemical compounds, derivatives and intermediates.

However, the immediate object of Comp. is to set up a plant to manufacture 465 tpa of Lactose.

SUBSIDIARY COMPANY

The Comp. doesn't have any subsidiary.

PROMOTERS

The Comp. has been promoted by Mr. S.S. Toshniwal, Shri S.M. Maheshwari & Shri Atul Maheshwari. Shri S.S. Toshniwal is Chairman of TOSHNIWAL GROUP of companies comprising of TOSHNIWAL AGROCHEM LTD.,TOSHNIWAL EXPORTS, BLACK BOX ELMARK PVT.LTD. UCIL INVESTMENTS LTD.,TOSHIKA CHEMICAL PVT.LTD. & other companies.

i. TOSHNIWAL AGROCHEM LTD., a World Bank financed project, is a new project, expected to start commercial production by November, 1991. It will be manufacturing Dye intermediates & Agrochemicals.

ii. BLACK BOX ELMARK PVT.LTD. are manufacturers of well known BLACK BOX - TDK Blank Video cassettes, Video Head Cleaning Cassettes & audio cassettes having turnover of around Rs.65 lakhs for period ended 31.3.1991.

iii. TOSHINIWAL EXPORTS is a well diversified Export House, exporting Pharmaceuticals, Dyes, Chemicals and Electronic products with turnover of around Rs. 168 lakhs for year 1990-91.

Shri S.S. Toshniwal has been recipient of many awards for excellence in Export performance from CAMEXIL, PLEXCONCIL, EEPC. S.S.Toshiniwal, a commerce graduate was employed with J.K. group of companeies [1961-70s] & the Birla group till 1977. In 1977, he started his own business of exporting glass products, engineering goods & chemicals. He diversified into the manufacture of blank video cassettes [brand name Black Box TDKs] in 1988 & also established Toshniwal Exports Limited [TELs], for export of bulk drugs, chemicals, dyes and dye intermediates & blank video cassettes.

The present turnover of TEL is about Rs 165 lacs. Shri Toshniwal is also setting up Toshniwal Agrochem Limited for manufacture of dye & dye intermediates at Tarapur, Maharashtra at an estimated cost of Rs 152 lacs. The Comp. is expected to commence commercial production from December, 1991.

Atul Maheshwari, a commerce graduate from Bombay & an MBA from U.S.A. has worked with Imperial Dyes and Chemicals [1985-87s], Ramimex International Limited [1987-89s] in the marketing departments, & TEL as Export Executive. He would be incharge of day-to-day working & the marketing operations of Company.

S M Maheshwari, a post graduate in Pharmacy, has over 25 years experience in the R&D departments of various pharmaceutical companies & sis currently employed as General Manager, Quality Control in a multi-national pharmaceutical company.

2007

-Lactose India Ltd delists securities from the Ahmedabad Stock Exchange Ltd [ASEs] w.e.f. February 28, 2007.