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Atul Ltd. Company History and Annual Growth Details

YEAR EVENTS
1975 - The Company was Incorporated on 11th December, at Ahmedabad. It
was originally promoted by Gujarat Industrial Investment
Corporation Ltd. The company manufacture synthetic cresol and
its by-products viz., sodium sulphite, sodium sulphate, gypsum
and soda ash, dyestuff, chemicals, drugs and pharmaceuticals etc.

- An agreement was entered into with Mitsui & Co. Ltd. (MBK),
Honshu Chemical Industry Co. Ltd. (HCI), and Mitsui Engineering
& Ship-building Co. Ltd. (MES), all of Japan, for the supply of
technical know-how and basic engineering designs for the plant
to produce synthetic cresols by sulphonation process.

- 7 Equity shares subscribed for by the signatories to the
Memorandum of Association; 8,47,593 No. of equity shares allotted
to Raipur Mfg. Co., Ltd. 10,000 Pref. and 15,97,400 No. of equity
shares offered at par to the public during Jan./Feb. 1978. Pref.
shares redeemable at 3 months' notice not later than 15 years
from 8.4.1978.

1979 - The erstwhile Atul Products, Ltd. had issued 7.75% mortgage
debentures of the face value aggregating Rs 450 lakhs and
maturing during the year. The rate of interest increased to 11%
per annum with effect from 1st January, 1980.

- 3,26,000 Rights Equity shares issued in prop 1:10. Arrears: of
Rs 23,215.

1983 - The erstwhile Atul Products, Ltd. privately placed 2,00,000-15%
non-convertible secured debentures of Rs 100 each aggregating Rs
2 crores.

1985 - A scheme of Amalgamation of the erstwhile Atul Products Ltd.,
with Gujarat Aromatics Ltd. (GAL) was approved by the respective
shareholders on 21st December.

- In order to augment working capital resources, 3,90,000 - 15%
non-convertible secured debentures of Rs 100 each were privately
placed with UTI.

1986 - The shareholders of the Company also approved the reduction of
equity capital and then consolidation of the reduced shares at an
extra-ordinary general meeting held on 7th January.

1987 - The two new products xylenol and LABS introduced during the
previous year were discontinued due to their poor performance.
Another two new products viz., pure meta cresol and pure para
cresol, were introduced during the year.

- Pursuant to the Scheme of Amalgamation of Atul Products, Ltd.
with Gujarat Aromatics, Ltd., the Company's production and sales
are reported under two units viz., the Atul unit and
Ankleshwar/Aromatic unit.

- The Scheme of Merger was approved by the Department of Company
Affairs. Approval of the Gujarat High Court was received on
20.8.1988.

1988 - As per the Scheme of Amalgamation approved by the High Court
Gujarat on 20th August, Atul Products, Ltd. was merged with
Gujarat Aromatics Ltd.

- Effective from 14th September, the name of the Gujarat Aromatics
Ltd., was changed to Atul Products, Ltd.

- As per the Scheme of Amalgamation approved by the High Court
Gujarat on 20th August, Atul Products, Ltd. was merged with
Gujarat Aromatics Ltd. Effective from 14th September, the name
of Gujarat Aromatics Ltd., was changed to Atul Products, Ltd.

- Equity capital reduced as per the Gujarat High Court Order dated
20.8.1988. 75,00,000 No. of equity shares then allotted without
payment in cash to members of Atul Products, Ltd. on its merger.

1989 - The R&D unit was supplemented by addition of an unit for
treatment of effluent from new products.

- It was proposed to set up projects for carbamate group of
pesticides and 3,4,5 - trimethoxy benzaldehyde in the near future
subject to Government approvals.

1990 - Cumulative Redeemable Pref. shares redeemed and authorised
capital reclassified. 19,64,650 shares issued as Bonus in prop.
1:4.

1991 - During October, the Company issued 15,87,300-12.5% secured fully
convertible debentures of Rs 120 each on rights basis in the
proportion 8 debentures: 50 No. of equity shares held and
9,82,325-17% secured redeemable non-convertible debentures of Rs
150 each on rights basis in the proportion of 1 debenture: 10 No.
of equity shares held.

- Only 8,60,208 debenture taken up. The balance 1,12,300
debentures were allotted to Mutual Funds/Financial Institutions.
Additional 2,38,095 fully convertible debentures were allotted
to retain oversubscription (Allotment of 279 debentures was kept
in abeyance under section 206-A).

- Another 79,360-12.5% fully convertible debentures of Rs 120 each
and 49,125-17% non-convertible debentures of Rs 150 each were
offered to the employees. Only 1,096 NCDs were allotted to
Financial Institutions/Mutual Funds and the balance 48,029 NCDs
were allowed to lapse.

- Each fully convertible debenture of Rs 120 each will be converted
into two equity shares of Rs 10 each at a premium of Rs 50 per
share after the expiry of 6 months from the date of allotment.

- Each non-convertible debenture of Rs 150 each will be redeemed in
three equal instalments at the end of the 6th, 7th and 8th years
from the date of allotment along with the premium of 5% payable
with the final instalment.

1993 - The Company issued 27,26,552-14% secured fully convertible
debentures of Rs 180 each for cash at par on rights basis in the
proportion of 5 debentures: 25 No. of equity shares held. (all
were taken up).

- Another 1,36,328-14% fully convertible debentures of Rs 180 each
were offered to the employees. (only 38,203 taken up).

- Part A of Rs 45 of each debenture was converted into one equity
share of Rs 10 each at a premium of Rs 35 per share on allotment
of debentures. Accordingly 27,64,755 shares were allotted.

- Part B of Rs 135 of each debenture was converted into three
equity shares of Rs 10 each at a premium of Rs 35 per share on
1st October, 1994. Accordingly 82,62,266 shares allotted.

- Ameer Trading Corporation, Ltd., (wholly owned) is a subsidiary
of the Company. Akshar Investments Pvt. Ltd., and Cibatul, Ltd.
are the subsidiaries of Ameer Trading Corporation, Ltd.

- Atic Colors Inc. a subsidiary of Atic Industries Ltd. became
subsidiary of the Company following the merger of Atic Industries
Ltd. with the Company.

1994 - Plants relating to the manufacture of para cresidine and para
anisicaldehyde were commissioned.

1995 - Effective 1st April, Atic Industries Ltd. was amalgamated with
the Company.

- 9,00,000 Pref. shares issued during the year.

1996 - The new plant for manufacture of 3,000 TPA of para cresol would
be commissioned.

- The name of the Company was changed from Atul Products Ltd. to
Atul Limited.

- 335 shares issued. 50,000 preference shares issued during the
year.

2002

-Mr A N Palwankar resigns the Directorship of the company and Mr. M K Tandon has been taken on the Board.

-Appoints S M Datta as the Additional Director of the company.


2004

-Atul Ltd. has informed that Dr. H Kaiwar, Director of the Company has resigned from the BoD's of the Company

2007

-Atul Ltd has appointed Mr. Sunil S Lalbhai, Managing Director & CEO as Chairman of the Company with effect from August 29, 2007.

2010

- Atul Limited has appointed Mr. V S Rangan as an Additional Director of the Company with effect from July 19, 2010. He will be an 'Independent Director'.
 
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