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Binani Industries Ltd. Company History and Annual Growth Details

1962 - The Company was Incorporated on 2nd August, at Calcutta. The
Company's object is to manufacture of zinc and its by-product
sulphuric acid and cadmium.

- Consolidation Mining and Smelting Company of Canada, Ltd.,
Montreal, Canada were the company's collaborators.

1964 - 7 shares subscribed for by signatories to the Memorandum of
Association. 8,40,000 shares taken up by Consolidated Mining and
Smelting Co. of Canada, Ltd. 4,20,000 shares taken up by Metal
Distributors, Ltd. 8,39,993 shares issued through a prospectus
during May.

1968 - 2 forfeited shares reissued.

1974 - 2,188 forfeited shares reissued.

1977 - 16,80,000 Bonus shares issued in prop. 4:5.

1988 - The Company proposed to install a modern melting and casting

1994 - The Company undertook to diversify into core business sector and
was in the process of setting up glass fibre and cement projects.
Orders for plant and machinery was placed for the glass fibre
project, to be set up in Goa. Also, recessionary approvals for
the mines and land and environmental clearance from the State
Govt. was received for the 1.2 million tonns cement plant being
set up at Pindwara, Siroti in Rajasthan.

- The Company offered 2,00,000 shares of Rs.100 each at a prem. of
Rs.800 per share to consolidate the company's capital base and
further augment long term resources.

- 1,89,000 Bonus equity shares issued in prop. 1:2.

- Equity shares subdivided. 20,00,000 No. of equity shares
allotted to a prem. of Rs.800 per share. 10,050 forfeited shares
reissued 115,30,125 bonus equity shares issued in prop. 1:2.
104,71,300 No. of equity shares allotted as per prospectus.

1995 - New 5.3 MW DG set has been installed and commissioned. With this
Zinc Division will have its own power generation capacity to
meet 45% of its total power requirements.

- During February, the company issued 100,00,000 No. of equity
shares of Rs.10 each for cash at a prem. of Rs.220 per share
as follows:

- (A) On Firm Allottment Basis:

- (i) 5,16,700 shares to Indian financial institutions.

- (ii) 1,93,400 shares to Mutual Funds.

- (iii) 1,60,000 shares to Foreign Industrial Investors.

- (iv) 16,50,000 shares to NRIs on repatriation basis.

- (B) Preferential Allotment Basis:

- (i) 55,100 shares to employees. (only 21,150 shares taken up).
Balance 74,24,800 shares along with 33,950 shares not taken up
by employees quota was issued to the public. Additional 4,71,300
shares were allotted.

- The name of the company was changed from Cominco Binani Zinc Ltd.
to Binani Industries Ltd.

- Rs.7.50 called up on 79,51,200 partly paid equity shares.

1996 - The Company proposed to acquire one more DG set of 10 MW

- Fibre glass plant started built up a capacity leading to product
stabilisation in October.

1997 - The Company proposed to double the capacity of its zinc smelter
in Binanipuram to achieve economies of scale.

- A scheme of arrangement was entered into between the company and
Binani Cement Ltd. for transfer of the cement division of the
company to a wholly owned subsidiary, BCL. The cement division
was hived off from the company and transferred to BCL effective
1st November.

- 4,550 forfeited shares reissued.

1998 - Efforts were being made to start the additional captive
generation by March.

- An additional capacity of 1.5 million tonne is being added at the
company's existing facility at Sirohi in Rajasthan. The company
also proposes to set up a greenfield unit with a capacity of two
million tonne.

- Apart from the cement units, Binani is also building a jetty,
Navlakhi Jetty, which will be able to handle a capacity upto
1.5 million tonne of cargo.

- In view of the severe shortage of power in Rajasthan, the
company has also set up its own captive thermal power station.
The power station has capacity of 27 MW.

- The company recently acquired mines and smelter for copper and
cobalt manufacturing in Zambia. It also proposes to increase the
copper smelter capacity from 40,000 tpa to 100,000 tpa and
modernise and expand mining capacities there.

- The diversified metals-and-cement group proposes to channelise
dollar revenue stream generated by its overseas ventures in the
UK, Dubai and Zambia to fund the project.

- Binani Metals, the group's UK venture, has set up its own
cement grinding unit in Dubai and has ventured into the tea
plantation business by buying out tea gardens in Zambia.

- Binani Industries, the flagship company, proposes to set up a
greenfield 70,000 tonne per annum lead smelter and one lakh tpa
zinc smelter in Gujarat.

- The company is also implementing a special jetty, called the
Navalakhi jetty project, to facilitate its exports of clinker.
The group's clinker grinding unit at Dubai in West Asia is also
under implementation.

1999 - As part of its diversification plans, the company also proposes
to set up a 75,000-100,000 tpa led smelter in the western
region. The project would include a refinery and alloy-making
facility. For the lead smelter, the company is in the process
of firming up technology tie-up and financial closure.

- BIL shifted its glass fibre business to Vishakha Enterprises
(India) Ltd (VEL), a wholly-owned subsidiary, with effect from
October 1, 1998. VEL was then renamed Goa Glass Fibre Ltd.

2000 - The Company proposes to delist its securities from the Cochin
Stock Exchange Ltd. and Madras Stock Exchange Ltd.

- Binani Industries Ltd. has been awarded with the 'Certificate of
Merit' for its performance in the field of exports during the
year 1998-99.

- Binani zinc, a division of Binani Industries Ltd. has been given the ISO
14001 certification for attaining the prescribed environmental standards
in the manufacturing and supply of zinc, sulphuric acid and cadmium.

- The Board has approved the proposal for merger of Binani Lead Ltd.,
with Goodwill Equity & Finance Ltd., a wholly owned subsidiary of the

- The Company re-issued 490907 balance forfeited equity shares of Rs 1/- each.

- The Company has spinned off the company's zinc business to a newly
formed subsidary Binani Zinc Ltd.

- The Company is doubling its zinc smelter capacity to 60,000 tonne per annum in
the first phase.

- Binani Industries to hive off its zinc unit to Binani Zinc by way of a scheme of arrnagement
with effect from 1st April 2001.

- The Company proposed to file an application seeking to hive off its zinc division
pursuant to a scheme of arrangement with Binani Zinc Ltd. from April 1, 2001. One equity
share of Binani Zinc Ltd. would be allotted for every five equity share in the company free
of cost.

2001 - Goodwill Equity & Finance Ltd., a wholly-owned subsidiary of the company has
appointed Mr. Braj Binani, as its Chairman and Managing Director.

-Board approved voluntary delisting of Shares from Madras and Kochi Stock Exchanges.


-Binani Industries Ltd has informed that the shares of the Company have been delisted from the Madras Stock Exchange w.e.f. January 27, 2004

-Kolkata High Court approves the scheme of arrangement for hive off the Zinc Division of the company to Binani Zinc Ltd., (BZL) w.e.f April 01, 2002

- Mr. Braj Binani, Chairman & Managing Director (CMD) tendered resignation as Chairman & Managing Director (CMD) of the Company and its Subsidiaries with effect from April 01, 2005 in accordance with provision of his Agreement dated December 21, 2001.

-Binani Industries enters into Sale & Purchase Agreement with Silver Peak Investments


-Binani Industries Ltd has informed that the Board of Directors of the Company at its meeting held on October 23, 2007, inter alia, has approved the appointment of Mr. Naresh Chand Singhal as Additional Director.


-Binani Industries Ltd has informed that consequent upon the acceptance of the resignation of Mr. Sushil Bhatter, Managing Director, he has ceased to be a Director of the Company with immediate effect.

- Binani Industries Ltd has informed that the Board of Directors of the Company at its meeting held on October 24, 2008, inter alia, Mr. Sunil Sethy has been appointed as Additional Director / Managing Director for a period of 5 years from November 03, 2008 to November 02, 2013 subject to all necessary approvals.
Oct 28, 5:50 pm
Oct 28, 5:59 pm
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