India Polyspin Ltd. ಕಂಪನಿ ಇತಿಹಾಸ ಮತ್ತು ವಾರ್ಷಿಕ ಬೆಳವಣಿಗೆ ವಿವರ

The company was incorporated on 25.11.1992 in the State of Gujarat with its Registered Office at Surat. The company obtained certificate for commencement of business from the Registrar of Companies, Gujarat on 10th December 1992. The company took over an existing profit making concern M/s. J.J. Synthetics Pvt Ltd., belonging to the same promoter group by a
scheme of amalgamation as approved by Gujarat High Court vide its Order dated 27.01.1994 with retrospective effect from 01.04.1993, M/s. J.J. Synthetics Pvt. Ltd., was engaged in the
manufacturing of Crimped, Texturised and Twisted yarn since 1987. The J.J. Synthetics Pvt. Ltd., was having 2 Nos. of SDS -300 Texturising machines with 216 spindles each besides 5
twisting machines alongwith other allied equipments prior to the merger with India Polyspin Ltd.,

The Land and Building of J.J. Synthetics Pvt. Ltd., were revalued by Mr.Dilip I Barad, a Government registered Valuer on 20.10.1992. The Plant, machinery and other assets were revalued on 07.10.1992 by Mr. B.C. Naidu, a Government approved Valuer. The revaluation has resulted in Company's assets being increased from Rs. 37 Lacs to Rs. 249 Lacs.

As approved by the Honble Gujarat High Court the share holders of erstwhile M/s. J.J. Synthetics Pvt. Ltd., were given 11 equity shares of Rs. 10/- each fully paid-up in lieu of each
equity share held by them in M/s. J.J. Synthetics Pvt. Ltd., The said shares were allotted on 25.02.1994.

PRESENT BUSINESS OF THE COMPANY

The Company is engaged in the business of Manufacturing and Trading Texturised, Crimped, and twisted yarns of polyester and Nylon. The Company is also Authorised Dealer of M/s Orissa Synthetics.

SUBSIDIARY OF THE COMPANY:

The company has no subsidiary within the meaning of Section 370 (IB) of the Companies Act, 1956.