YEAR EVENTS
1981 - The Comp. was incorporated on 2nd May as a Pvt. limited Comp. in
the name of Shree Balaji Calendering Pvt. limited Subsequently the
name of Comp. was changed to Balaji Prints Ltd., on 25th
November 1982. It was converted into a public limited company
on 17th December 1982.
- The main object of Comp. is Weaving & processing of
textiles & synthetic fabrics & trading. The products of the
Comp. are marketed under the brand name 'RAJKAMAL'.
1983 - During, the Comp. had set up a cotton-cum-synthetic textile
processing unit in MIDC Phase - i Industrial Area at Dombivli in
Thane was set up for processing, bleaching & calendering of
fabrics & sarees.
- 1030 No. of equity shares subscribed for by promoters,
directors, their friends, etc. 2,43,970 shares were reserved and
allotted to promoters, directors, etc. The balance 1,50,000
shares were offered for public subscription during July. All
were taken up.
1985 - The Comp. undertook to set up a processing house for synthetic
fabrics at Sachin, near Surat in Gujarat State with an installed
capacity of 25,000 mtrs. per day.
1986 - To augment its trading activities, the Comp. had set up a
division under the name & style 'International Cloth Agency' at
Kalbadevi Road in Mumbai with effect from 1st April.
- The name of Comp. was changed to Rajkamal Synthetics Ltd.
- During December, the Comp. issued 4,50,000 - 15%
non-convertible debentures of Rs. 100 each for Rs. 450 lakhs as
rights to equity shareholders in proportion 9 debentures : 5
equity shares out of which only 4,05,000 debentures were taken
up. These debentures are redeemable at a premium of 5% in five
equal annual instalments between 5 to 9 years from the date of
allotment. These debentures were allotted to 10th April, 1987.
- 19,10,000 No. of equity shares issued at par as rights in prop.
31:4. Another 95,000 No. of equity shares were offered at par to
employees [including Indian working directorss] on an equitable
basis [All were taken ups].
1987 - The second phase of its expansion programme, the Comp.
installed most of machinery & the unit was equipped with
latest generation of processing technology/machines for
production of cotton/synthetic fabrics.
- It was also proposed to set up a texturising unit at Silvassa, a
Centrally notified backward area in the Union Territory of Dadra
& Nagar Haveli.
1991 - Production, sales & profitability were affected due to the Gulf
crisis & increasing competition in the local market.
1992 - Production & profitability was affected due to the extensive
darna caused to the plant by cyclone in June, production loss due
to revamping of plant, communal riots & fire in the plant in
November.
1993 - The Comp. suspended manufacturing activity at its plant at
Suart since June.
