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History of Lords Chloro Alkali Ltd.

YEAR EVENTS 1979 - The Comp. was incorporated on 1st March at Alwar in Rajasthan. The Comp. was promoted by Modi Industrial House including Modi Industries Ltd., Modi Rubber Ltd., Modi Spng. and Wvg. Mills limited & Modipon limited It manufactures Caustic Soda, liquid chlorine, hydrochloric acid, & stable bleaching powder.

- The Comp. entered into an agreement with Uhde India limited for providing design and detailed engineering for project. Uhde India Ltd., is the Indian subsidiary of UHDE GmbH, West Germany [UHDEs].

1982 - 47 shares subscribed for by signatories to the Memorandum of Association, 43,72,453 shares reserved & allotted to promoters, etc. & 4,00,000 shares reserved & allotted to promoters, etc. & 4,00,000 shares reserved & allotted to `RIICO. 17,50,000 shares reserved for preferential allotment to NRIs with repatriation rights. 22,27,500 shares [along with Unsubscribed portion of NRI quota if anys] were offered at par for public subscription during August 1982.

1983 - 19,19,686 Rights Equity shares issued at par in prop. 2:9.

1984 - The Comp. undertook to set up a project for conversion of graphite anodes to metal anodes.

1985 - The Comp. issued 1,25,000-15% non-convertible debentures of Rs. 100 each as rights for working capital purposes.

- 29,121 forfeited shares reissued at par.

1986 - 10,00,000 No. of equity shares issued at par as rights to equity shareholders [prop. 2:25s] & debenture holders [prop. 4:5s].

1987 - The Comp. received a licence for enhancement of its caustic soda capacity to 41,250 tonnes per annum from the present 33,000 tonnes per annum, also letters of intent were received for the manufacture of activated earth, aluminium chloride & sodium hypochlorites.

1988 - The Comp. was installing balancing equipment for optimising the operations. During the year, Government approval was received for manufacture of monochloro acetic acid, Tri/Penta Chloro phenol, bleaching earth, anhydrous aluminium chloride Trichloroethylene, 2, 4-D Herbicude & Chlorinated and Chlorosulphorated paraffins.

- 41 forfeited equity shares reissued. 16,46,168 shares issued at par to financial institutions in conversion of loans.

1989 - During October-November, the Comp. offered 40,00,000 No. of equity shares of Rs 10 each at par on `Rights' basis in the proportion 3:10. Additional 6,00,000 shares were allotted to retain oversubscription.

- Another 2,00,000 shares were issued at par to the employees under the Employees Stock Option Scheme [only 2,000 shares taken ups]. The unsubscribed portion was allowed to lapse, the above issue was made to part finance the Company modernisation scheme [balancing equipments] & its chlorine based projects.

1992 - The Comp. undertook to expand stable bleaching powder production capacity to 60 TPD.

- With a view to maintaining its pressure in the North Zone, the Comp. proposed to install DG sets of 36.7 MW capacity.

- The Comp. undertook modernisation of mercury cell plant of 200 TPD into Membrane cell plant & Balancing of Membrane cell plant capacity from 60 TPD to 100 TPD.

- The Comp. offered 44,78,518 No. of equity shares of Rs 10 each at a premium of Rs 20 per share along with equal number of detachable warrants on Rights basis.

1993 - 44,68,271 No. of equity shares were allotted. Also 30,10,023 No. of equity shares were allotted at a premium of Rs 10 per share to those who exercised their rights to convert the warrants into shares.

1994 - The Comp. increased its capacity to 250 TPD from 190 TPD.

1996 - 89,86,789 shares issued on Rights basis & on conversion of warrants. Another 2,68,800 shares allotted to financial institution on conversion of warrants.

2004

-Modi Alkalies and Chemicals Ltd has informed that at the Annual General Meeting held on December 30, 2003, the shareholders have approved delisting of its equity shares from Jaipur & Delhi Stock Exchanges.

2007

-Modi Alkalies and Chemicals Ltd name has changed its name to Lords Chloro Alkali Ltd & the same has been approved by Shareholders of Comp. as well as Central Government w.e.f. October 01, 2003.