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History of Regaul Blue [Indias] Ltd.

Regaul Blue [Indias] Ltd was incorporated on 3rd January 1995 & obtained Certificate of Commencement of Business on 6th January 1995. Started by Mr. S. Murugesan as a self employment scheme in 1959 with an initial capital of Rs.100/- Regaul has grown in these years to be a market leader in South India. From procuring blue powder in bulk and repacking it into small quantities, Mr. Murugesan found in 1979, that blue powder can be mixed with certain chemicals & formed into 'Liquid Blue'. After four years of experimenting, he achieved the right combination of liquid blue of quality which proved highly popular in the market.

Today the advertisement jingle 'Regaul Chottu Neelam doi!' is in the lips of almost every household & has put the Regaul Whitener on top of regional market for whiteners in South India.

What started as a single-man venture in 1959, slowly expanded; it became a family venture in 1979 when his two sons & sons-in-law joined him. Many more small scale manufacturing & distributing outfits were formed. Diversifying from traditional liquid blue, the Comp. also introduced 'Herbal Turmeric Powder'. Today it is on the threshold of diversifying into various products which have impact on the middle class family.

PRESENT BUSINESS

Mr. Murugesan who pioneered the 'Liquid Blue' concept in South India also introduced herbal turmeric powder. Till now these products have been manufactured & marketed by the following proprietory/partnership/private limited companies.

[is] Southern India Marketing Agencies Private Limited

[iis] Southern India Trading Agencies [Proprietory Concerns]

[iiis] Regaul Chemical Industries [Proprietory Concerns]

[ivs] Anil Chemicals [Proprietory Concerns]

[vs] Regaul Ultramarine Tint Exports [Ps] Ltd

The copy right 'REGAUL' is registered by Southern India Trading Agencies, a proprietory concern of Mr. Murugesan. An agreement has been entered into by Comp. with Mr. Murugesan which gives the right to use of this brand name for the next 10 years. When the Comp. starts the manufacture & marketing of various products under these brand names, the above mentioned firms/companies will cease to use this brand name for such products. Regaul Blue [Indias] Ltd has applied for copy right of brand name 'Menaka'.

Regaul Blue [Indias] Ltd was incorporated on 3rd January 1995. The Comp. has already acquired the land along with factory shed. Certain machinery have been acquired and orders for rest have been placed. The project is expected to be completed by April 1995 & commercial production expected in May 1995.

PAST FINANCIAL RESULTS

The Comp. has been incorporated only on 3rd January 1995 and has not commenced commercial operations till date. Hence no financial results are available for Company.

ACCOUNTING POLICY

The Comp. proposes to adopt the following accounting policies:

[as] The Acc. will be prepaid under historical cost convention basis.

[bs] The fixed assets will be stated at Cost Price less accumulated depreciation.

Depreciation will be provided on Straight Line Method in accordance with & at the rates specified in Schedule XIV of the Companies Act, 1956. Depreciation will be provided on pro-rata basis with reference to the month of addition/disposal.

[cs] Inventories will be valued as follows:

- Finished goods at the lower of cost or net realisable value

- Consumable stores, packing materials & raw materials at cost

- Work in Progress at estimated cost

[ds] Sales will be accounted for on despatch of goods from the factory/godowns & will be net of return & will include Excise Duty but will exclude Sales Tax.

[es] Excise Duty, where ever applicable, will be accounted for on the clearance of goods from the factory premises.

[fs] Royalty payable will be accounted on accrual basis.