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History of Ranjeev Alloys Ltd.

Ranjeev Alloys Limited [hereinafter referred to as the `Company's] was incorporated on 12th October, 1990 as a Private Limited Comp. under the Companies Act,1956 & was converted into a Public Limited Comp. vide fresh certificate of incorporation consequent on change of name issued by Registrar of Companies, Kanpur on 16th November,1992, to carry on the activities as detailed in the main objects of the Memorandum of Association of Comp. under the caption `Main Objects of Company.'

Ranjeev Alloys limited is in the process of setting up the proposed unit & has yet to commence the commercial production. As on date it has not transacted any commercial operations. The Comp. is presently in process of setting up steel furnace & continuous casting machine for producing ingots, billets with an installed capacity of 22800 M.T. per annum based on 3 shift per day & 300 working days per annum basis. The product will mainly be used by rolling mill owners for re-rolling purposes to manufacture flats,angles, rounds, L.T.Iron square, Steel Strips, Bars, Skelp etc. However as mentioned elsewhere in the prospectus the entire production of this until will be consumed by sister concern Modern Steel Industries.

The industry pertain to key sector on which whole development of country is based. Hence it is likely to grow with the growth in the civilisation/industrialisation resulting in the growth in construction activities. Moreover there is no Billet manufacturing unit in the near vicinity while number of re-rolling mills are therein Ghaziabad, Meerut, Muzaffar Nagar & more are coming up.

Implementation of project is in progress. As on 31.10.1994 the Comp. has already purchased the land & constructed the boundary wall. The site development work has started. The construction of main shed as started. The Comp. has placed orders for critical plant & has also identified supplier of other plant & miscellaneous fixed assets. The power load of 3500 K.V.A. has been sanctioned by UPSEB. The Comp. has also applied for sanction of working capital limits with Oriental Bank of Commerce, Wright Ganj., Ghaziabad. The application of Comp. has been submitted to U.P.P.C.B. for obtaining the N.O.C., regarding water & air pollution which is under consideration. The critical areas in this industry are the availability of Power & Raw Materials.

The Comp. will make arrangement for regular supply of power by Installing D.G. Sets. The provision of which has already been taken in the project.

PRESENT BUSINESS OF THE COMPANY

The Comp. is at present involved in setting up the facilities to manufacture M.S. Billets with an installed capacity of 22800 MT per annum at Village Morta 25 K.M. Delhi Meerut Road,Ghzaziabad.