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History of Yash Papers Ltd.

YEAR EVENTS 1981 - The Comp. was incorporated on May & obtained the Certificate of Commencement of business on 12th June. It was promoted by K.K. Jhunjhunwala. The company object is to manufacture of kraft paper.

- The Comp. set up a plant for manufacture of kraft paper with a capacity of 1940 TPA. The capacity of unit was increased to 4000 TPA with financial assistance from PKUP & VPFC.

1991 - The Comp. set up a Unit No.II with an installed capacity of 6000 TPA poster paper.

1994 - 12,78,000 No. of equity shares of Rs.10 each issued, subscribed & paid-up. 22,50,000 No. of equity shares of Rs.10 each were issued at a prem. of Rs.10 per share of which 67,500 shares were issued to the employees on preferential basis [only 29,200 shares were taken ups]. Balance 12,82,500 No. of equity shares along with 38,300 shares not taken up by employees were issued to the public. Additional 3,37,500 shares were allotted to retain over-subscription [3,000 - 11% preference shares were redeemed on 10th September 1991 & 30,000 No. of equity shares of Rs.10 each were allotted in lieu thereof.

1996 - Performance was affected due to adverse market conditions and vagaries of power supply.

- Co-generation unit started giving problems & developed technical snags. The Comp. has put an amount of Rs.31.07 lacs for additional balancing equipments to overcome the aforesaid snags.

- The Comp. entered into a tie up with M/s. Indace Ltd., U.K. for technology & design & for executing the project. In India, Indace limited provided the consultancy to Nath Pulp & Paper Mills limited In return for services rendered, the Comp. was to pay the collaborators U.K. Pound Sterling 35,000.

1997 - Turnover declined marginally to Rs.16.78 crores due to sluggish market conditions.

- The Comp. undertook to set up facilities for manufacture of 30 TPD bagasse/hessian based pulp & to increase the capacity of MG paper machine No.2 from 6000 TPD to 10,000 TPA with facilities to manufacture lower grammage kraft paper to facilitate lower grammage [26 GSM to 33 GSMs] kraft paper plant & machinery comprising bagasse depther conveyors, digesters, washers etc. were to be installed.

- Comp. has allotted Equity Warrants of Rs.300 lakhs to promoters & their associates.

2002-Mr A R Nighoskar resigns from Directorhip of Yash Papers.

2005

-Delist equity shares from the Ahemedabad Stock Exchange [ASEs] with effect from January 28, 2005.

-Yash Papers Ltd has informed that issue of 1,68,00,000 Equity Shares of Rs 10/- each for cash at premium of Rs 4/- per equity share aggregating to Rs 2352 lacs by Comp. through prospectus will open on June 30, 2005 and will close on July 08, 2005.

2007

- Yash Papers Ltd has appointed Mr. Basant Kumar Khaitan & Mr. Ramesh Narayan as Additional Director.

- Yash Papers Ltd has informed that the Board of Directors of Comp. at its meeting held on June 30, 2007, has appointed Mr. K D Pudamjee as Additional Director.