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Bharat Wire Ropes Ltd. Company History and Annual Growth Details

The Company was incorporated as Bharat Ropes Private Limited on July 24, 1986 under the Companies Act, 1956 bearing Registration No.40468, and having its Registered Office in Mumbai, Maharashtra. Subsequently, the Company became a Public Limited Company in pursuance of a special resolution passed by the members of the Company at the EGM held on May 2, 1992. A fresh Certificate of Incorporation consequent to change of name as a result of conversion to a public limited company was issued on June 10, 1992 by the Registrar of Companies, Mumbai, Maharashtra. In 1996, the name of the Company was changed from Bharat Ropes Limited to Bharat Wire Ropes Limited. A fresh Certificate of Incorporation consequent to such change of name was issued on July 5, 1996 by the Registrar of Companies, Mumbai, Maharashtra. the CompanyÂs Corporate Identification Number is U27200MH1986PLC040468 and its Registered Office is situated at Plot No. 1&4, Atgaon Industrial Complex, Mumbai Â Nasik Highway, Atgaon Â East, Taluka- Shahpur, District Â Thane Â 421601, Maharashtra, India. Until the year 2010, the Company was owned, managed and controlled by the Shah Group. Subsequently, in the year 2010, one of the corporate Promoter - Gaji Mercantile Private Limited purchased 1,06,75,490 equity shares of the Company and accordingly, the management of the Company changed. At the time of handing over of the management, the previous management had informed the current Promoters that certain documents pertaining to corporate, accounting, financial, legal and other statutory records since incorporation were either not available, misplaced, destroyed or otherwise not traceable. The relevant documents are also not available/destroyed at the office of the RoC, as certified by M/s. Sachin Chhadawa and Associates, Company Secretaries, dated July 4, 2014. In the circumstances and in the absence of complete set of relevant minutes of the board and the shareholders and Forms 5, Forms 2 and Forms 23, for the purposes of appropriate disclosures to be made in this Red Herring Prospectus, in accordance with SEBI (ICDR) Regulations, we have placed reliance on information readily available from public domains and the disclosures made in the annual reports from the Financial Year 2003 onwards, and the audited reports appearing under the heading ?Authorised capital, issued, subscribed and paid-up capital?, to ascertain the details of the (i) history of change in authorized Share capital of the Company; or (ii) nature of allotments made and the nature of consideration; (iii) any shares issued out of its revaluation reserve; or (iv) issued for consideration other than cash; or (v) issued by way of capitalisation of its reserves; or (vi) shares allotted in terms of any scheme approved under Sections 391-394 of the Companies Act, 1956, during the period from July 25, 1986 till March 31, 2010. Moreover, at the time of incorporation, the Company had 15,000 Equity Shares and 10,000 unclassified shares. In the absence of complete set of relevant minutes of the board and the shareholders and Forms 5, and Forms 23, for the purposes of appropriate disclosures to be made in this Red Herring Prospectus, in accordance with SEBI (ICDR) Regulations, we have placed reliance on the disclosures made in the annual reports from the Financial Year 2003 onwards, and the audited reports to ascertain that currently the Company has only one kind of shares.

Major events in the History of the Company:

1986

-Incorporation of the Company and commencement of Business Activities

1992

-Conversion from a private limited company to a public limited company and consequently the name of the Company was changed to "Bharat Ropes Limited".

1996

-Change of name of the Company from Bharat Ropes Limited to Bharat Wire Ropes Limited

2006

-Shifting of the manufacturing facility from Bhandup, Mumbai to Atgaon, Thane

2010

-Change in the Management of the Company from the Shah Group to the Mittal family

2012

-Raising of Equity of Rs. 3000.00 lacs from Gaji Mercantile Private Limited and Rs. 1000.00 lacs from Passionate Investment Management Private Limited

2015

-Sanction of Term Loan facility of Rs. 33000.00 lacs.

-Grant of Plot No - 4 admeasuring 2,54,376 square meters located at M.I.D.C. Chalisgaon Industrial Area, Village - Khadki, BK Chalisgaon, District Jalgaon - 424101, Maharashtra by way of Pre-determined Lease Agreement dated March 31, 2015

2016

-Bharat Wire Ropes Lt - Receipt of Award of Prestigious Rate Contract

2017

Company has commenced its Commercial Production today from its State of the Art Wire Rope manufacturing facility at Chalisgaon, Maharashtra.

-Bharat Wire Ropes Ltd has informed that the company has booked orders of Rs. 8 Crore approximately out of which a prestigious and special order from defense has been awarded for Rs. 6.5 Crore approximately.

2018

-Life member of Paryavaran Mitra

-Excellent Export performance achieving export house status

2019

-EEPCINDIA 51st Export Awards large enterprice for highest growth in exports during 2018-2019

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