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Bharat Bijlee Ltd. Company History and Annual Growth Details

YEAR EVENTS
1946 - The Company was Incorporated at Mumbai. The Company Manufacture
electric motors, transformers, etc.

1957 - 28 Pref. shares and 657 No. of Equity shares issued during
1951-55. In 1957-58, 4,143 Right Equity shares issued in the
prop. 4:3.

1960 - Pref. shares converted into Equity. 2,351 shares issued as
rights at par and 7,649 shares offered to the public.

1961 - 10,000 right equity shares issued at par in prop. 1:2.

1964 - In November, 30,000 right equity shares offered at par in prop.
1:1. In April 1965, 30,000 pref. shares offered to the public.

1973 - 20,000 Bonus equity shares issued in the proportion 1:3.

1976 - 26,666 Bonus equity shares issued in prop. 1:3.

1978 - Collaboration agreements were entered into with Siemens A.G. of
West Germany for the manufacture of special types of motors and
with Transformation Union A.G. of West Germany for the
manufacture of special types of transformers.

1980 - 34,623 No. of Equity shares issued (prem. Rs 12.50 per share) on
conversion of bonds during Sept./Oct. in prop. 3 equity: 1 bond.

1982 - The Company issued non-convertible debentures for Rs 150 lakhs as
Rights to the equity shareholders. The redemption of these
debentures, was extended. As per the terms of the extension,
31,710 debentures held by the financial institutions were
redeemed on 30th April, 1991.

- The Company had the liberty to buy back the debentures at par
(plus accrued interest) from the debenture holders after a period
of 1 year from the date of extension. Upto 31st March, 1993,
1,365 debentures were bought back by the Company.

1984 - A technical collaboration agreement was entered into with
Ferranti plc of England for the manufacture of advanced types of
tap changers.

- The Company secured the approval of the Government of India for
collaboration with Schindeler of Switzerland for the manufacture
of lifts and for the acquisition by this collaborators a 10%
share in the equity capital of the Company.

1987 - The production and sales declined mainly due to a strike at the
Company's units at Thane and Mumbai from 12th December, to 11th
September, 1988. The strike had since been resolved and normal
production and sales commenced from the middle of November 1988.

1988 - The First lifts with Schindler design was installed.

1990 - The technical collaboration agreement with Siemens A.G. of
Germany was renewed for the manufacture of power transformers.

- The Company issued 14% non-convertible debentures for Rs 250
lakhs to financial institutions on private placement basis.
These debentures are redeemable with 5% premium in three annual
instalments of Rs 35 per debenture on 6.11.1996, 6.11.1997 and
6.11.1998, the installment on 6.11.1997 being inclusive of the
premium of Rs 5.

1991 - The Company had received the All India Best Productivity
Performance Award for the year 1990-91 in the category of Heavy
Engineering including Power Distribution and Transmission
Equipment Industry and Machine Tools Industry.

- A technical Collaboration Agreement was entered into with Siemens
Engineering and Manufacturing Co. of India Pvt. Ltd., for the
Manufacture of motors and transformers.

1992 - The Sales and profitability of the motor division were adversely
affected due to stagnant demand for the products.

- 141,289 bonus equity shares issued in prop. 1:1 in January 1993.

1995 - The company had once again won the award for the best stall at
ELECRAMA 96, an exhibition organised at Mumbai by the Indian
Electrical & Electronics Manufacturers Association during
January, 1996.

- 282,578 No. of equity shares, allotted as fully paid bonus shares
in the ratio of 1:1.

1996 - The Company has once again won the award for the best stall at
ELECRAMA 96, an exhibition organised at Mumbai by the Indian
Electrical & Electronics Manufacturers Association during
January.

- The Company has a collaboration with Invention AG of Switzerland
for lifts.

1997 - The Company produces a modern and wide range of lifts and
operates from more than twenty cities nationwide.

- Due to adverse economic conditions and poor industrial
investment, finalisation of project tenders continues to be
deferred, affecting receipt of orders and execution.

- The first DC drive was commissioned and is undergoing rigorous
field trials.

- The Company has a collaboration with Inventio AG of Switzerland
for lifts.

- Schindler had entered into a technical tie-up with Bharat Bijlee
10 years ago for manufacture of lifts.

1998 - Due to delays in plans far Power Generation, Transmission and
Distribution in government as well as private sector, the demand
for transformers has gone down resulting in very competitive
market conditions.

- Mr. N. Balakrishnan has been appointed a Director in the casual
vacancy caused by the resignation of Mr. Keshav V Natoo.

1999 - ISO 9001 recertification was obtained during the year.

- The 1,50,000 14% Non Convertible Secured Debentures (I Series) of
Rs.100 each have been fully redeemed. The last installment of
Rs. 40.74 lakhs has been paid on 30th April, 1998,

- The 2,50,000 14% Non Convertible Secured Debentures (III Series)
of Rs. 100 each have also been fully redeemed. The last
installment of Rs. 87.50 lakhs has been paid on 6th November,
1998.

- The three year term Wage & Productivity settlement was signed
with the Union in September, 1998.


2008

-Bharat Bijlee Ltd has informed that the equity shares of the Company have been delisted from The Delhi Stock Exchange Association Ltd (DSE) w.e.f. March 31, 2008.
 
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