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History of RCS Vanaspati Industry Ltd.

YEAR EVENTS 1984 - The Comp. was incorporated on 19th September, at Calcutta. The present vanaspati plant has been established by Ramnuggar Cane & Sugar Comp. Limited on a seperate division in 1971. This division was converted in 1984 into a new Comp. under the name & style RCS Vanaspati Industry Limited. The RCS Group of S.S. Sharma took over the Comp. in 1985. This unit is situated at Jhotwara Industrial Area, Jaipur, Rajasthan. Vanaspati is marketed under the brand name `Maharaja', `Veena' & `Rama'. The main object of Comp. is Manufacture of Vanaspati, vegetable oils, animal feed etc.

1990 - The Comp. achieved improved capacityutilisation of about 5% over the previous year.

- The Comp. undertook to set up asolvent extraction plant with an installed capacity of 60,000 TPA [in terms of oil cakess] in the existing premises. The vegetable oil to be extracted is to be utilised captively for manufacture of vanaspati & refined vegetable oil through solvent process was awarded to Saratech Consultants & Engineers Karnal, Punjab for supply of plant & machinery including effluent treatment plant.

1991 - New machinery were added, old outdated equipments were replaced & some balancing equipments were installed.

- The Comp. proposed to expand the capacity of its refinery division from 50 TPD to 100 TPD

- 7,89,700 No. of equity shares taken up by promoters, directors, etc. 27,10,000 No. of equity shares then issued at par of which 6,10,180 shares reserved & allotted on a firm basis to promoters, directors, etc. Another 1,35,500 shares were offered to employees on preferential basis [only 3,200 shares taken ups]. The balance 19,64,320 No. of equity shares, along with 1,32,300 shares not taken up by employees, were offered to the public in April [all were taken ups]. Additional 4,06,500 shares were allotted to retain oversubscription [3,14,973 shares to the public & 91,527 shares to promoterss].

1993 - The Comp. came under the provision of Sick Industrial Companies [Sp. Provisionss] Act, 1985 & a reference was made to BIFR.