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Bengal Tea and Fabrics Ltd. Company History and Annual Growth Details

YEAR EVENTS
1983 - The company was incorporated on 16th July, at Calcutta. It was
promoted by B.D. Kanoria. The main object of the company is to
manufacture tea and processing of cotton/blended yarn.

1985 - Subsequently Bengal Tea & Industries Ltd. (BTIL) was amalgamated
with the Company with effect from 1st April. BTIL owned three
tea estates in Assam and acquired Asarwa Mills.

1990 - The tea division has eight gardens with a gross area of 6,363
hectares located in Assam namely Pallorbumd, Mackeypore, Poloi,
Dooloogram, Ananda, Pathalipam, Bordeobam and Lakmijan Tea
estates.

1991 - The Company entered the branded poly-packed tea segment with the
introduction 'Classic Gold' and 'Pollorbund' in Northern and
Estern India.

- The textile division Asarwa Mills comprises of a composite mill
located at Ahmedabad and an industrial yarns unit located at
Dholka. The composite mill has an installed capacity of 48,304
spindles and 324 looms to produce 50 lakh Kgs. of cotton,
polyester-cotton and polyester viscose yarns per year and 35,000
mtrs. of cloth per day. Later the spinning section was
modernised by installing automatic looms. The industrial yarns
unit consists 19 open end spinning machines having a total rotor
capacity of 3,528 and a capacity to produce 100 lakh kgs. of
coarse yarns used in furnishing fabrics, denim and industrial
fabrics.

1992 - The Company undertook to set up a new spinning project in the
name of Asarwa Overseas with a capacity of 18,144 spindles to
manufacture cotton/blended yarn for export at village Walthera,
Taluka Dholka, Dist. Ahmedabad.

- 2,00,000 No. of equity shares of Rs. 10 each issued, subscribed
and paid up. 7,54,680 No. of equity shares allotted as fully
paid up for consideration other than cash. 9,46,040 bonus
shares issued.

1993 - The Company issued 25,000 - 17% secured redeemable partly
convertible debentures of Rs. 1,280 each to UTI. Part-A of Rs.
1000 will be redeemed in four equal annual instalments in the 5th
6th, 7th and 8th years.

- Part-B of Rs. 280 will be converted into 7 equity shares of Rs.
10 each at a premium of Rs. 30 per share at the end of six months
from the date of allotment. Accordingly 1,75,000 No. of equity
shares allotted at a premium of Rs. 30 per share.

- 18,92,080 bonus equity shares issued. 21,57,500 No. of equity
shares of Rs. 10 each at a premium of Rs. 30 per share issued out
of which 1,00,000 shares were issued and allotted to promoters,
etc. on firm basis. Out of the remaining, 1,07,875 shares and
2,00,000 shares then issued and allotted to employees and Indian
Mutual Funds respectively on preferential basis. The balance
17,49,625 shares were issued to the public during January 1994.
All were taken up.

1994 - The textile division Efforts were being made to increase the
yield per hectare by installing, rejuvenation and new plantation.
The textile division's profitability was affected by the abnormal
increase in price of raw cotton.

- Steps were taken to increse the capacity of Asarwa Overseas from
18,144 spindles to 24,192 spindles. Also, for installation of
wind power farm with a capacity of 3 MW in the coal area of
Gujarat, payment for land was made.

- The objects of the public issue made during January, were to
finance the capital cost of the new spinning project, to meet the
long term working capital requirements and to get the equity
shares listed.

- 19,92,080 rights equity shares were issued (prem. Rs. 25 per
share; prop. 1:1).
2002

-Shri Basudeo Kanoria resigns from Board of Bengal Tea & Fabrics.

-Bengal Tea and Fabrics Ltd has informed that the Board of Directors appointed Mr. Lalit Dugar as the Secretary of the company and further he has been appointed as the Compliance Officer wef November 1, 2002. By virtue of the appointment of Mr. Lalit Dugar as the Compliance Officer the additional charge of compliance officer as given to Mr. D. S. Pagaria (Chief Financial Officer) has been ceased.

2004

-Delist from Ahmedabad Stock Exchange (ASE) with effect from October 15, 2004.

2007

-Bengal Tea & Fabrics Ltd delists Equity Sharesfrom The Calcutta Stock Exchange Association Ltd (CSE).

2008

-Bengal Tea & Fabrics Ltd has informed that the equity shares of the Company have been delisted from the Calcutta Stock Exchange Association Ltd (CSE) w.e.f. March 25, 2008.

2009

- Bengal Tea & Fabrics Ltd has informed that Mr. Abhijit Datta has been appointed as an Additional Director of the Company with immediate effect.
 
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