History of Taparia Tools Ltd.

YEAR EVENTS 1965 - The Comp. was incorporated on 31st December, at Nasik. It was promoted by Anjani Kumar Comp. Pvt. limited The main objective of Comp. is to Manufacture forged hand tools such as various types of screw drivers, punches & chisels, nail pullers, adjustable wrenches, liers & sockets.

1966 - 3,000 No. of equity shares issued to collaborators without payment in cash. 20,000 No. of equity shares issued to directors, etc. 22,000 No. of equity shares & 15,000 Pref. share redeemable at the Company option during 15th January 1980/83 at 3 months' notice.

1976 - A collaboration agreement with Autie bologet Bahco, Sweden, secured by promoters Anjani Kumar Co. Pvt. limited was transfered to the company. The collaboration agreement came to an end on 31st March.

1982 - The Comp. diversified its activities to manufacture of forgings for automotive industry.

1983 - Rate of dividend on Pref. shares raised 13.5% & redemption date extended 15th January 1986.

1985 - The Comp. fully implemented the measures suggested under rehabilitation & modernisation scheme.

1986 - The Comp. was declared a sick unit. A rehabilitation and modernisation programme was chalked out which envisged a new investment reduction in the share capital of Comp. and write off of some of existing liabilities.

- The rehabilitation scheme, inter alia, envisaged reduction in the share capital of Comp. in the following manner:

- [is] 45,000 No. of equity shares of Rs. 100 each aggregating to Rs. 45,00,000 be reduced by 50%;

- [iis] 5,84,000 No. of equity shares of Rs. 10 each aggregating to Rs. 58,40,000 be reduced by 25%; and

- [iiis] 15,000 - 13.5% preference shares of Rs. 100 each aggregating Rs. 15,00,000 be reduced by 25%.

- The date of redemption of preference shares was extended to 15th January 1991.

1990 - Preference shares redeemed, 2,50,000 No. of equity shares of Rs. 10 each allotted at par to promoters.

1991 - Equity shares subdivided. 2,25,000 shares allotted.

1994 - With a view to expansion, the Comp. proposed to buy a plot of land at Goa for setting up plants.

- 13,69,500 Rights Equity shares issued in propn. 3:2. Another 2,50,000 shares offered to Promoters & employees of company.