|Asia Fab Limited, was incorporated on January 1, 1990 with the Registrar of Companies, Maharashtra at Bombay and obtained the Certificate of Commencement of business on August 16, 1991. The Company, having its registered office at Bombay had a paid up Capital of Rs.5800 being held by promoters, their friends and associates.
The Company has been promoted by young entrepreneurs namely Mr Surendra Kumar Kedia alias Gattu Kedia and Mr Manoj Kumar Raniwala, commerce graduates, Mr Gattu Kedia has been involved in the textile industry since 1976. During the period 1976-88 he has worked in various capacities in the K K Patodia Group of Companies. During this period he gained experience in almost every aspect of the Cotton and Man-made Fibre Industry such as purchases, imports, project implementation, marketing and exports. Mr Manoj Kumar Raniwala has worked in P D Patodia Group of companies from 1979 to 1988. He was mainly involved in the marketing of Textiles Machinery and Export of Textiles.
Since 1988 Mr Kedia and Mr Raniwala have been working together as marketing consultants and Exporters. Their Company M/s Black Rose Exports Pvt Ltd is engaged in the exports of cotton yarn and fabrics. Further they are also the indenting agents of companies, such as Indo Rama, Orient Syntex and Asarwa Mills Ltd. etc.
For the year ending March 31, 1990 and March 31, 1991 turnover (including indented exports) of M/s Black Rose Exports Pvt Ltd was Rs 802 lakhs and 1573 lakhs respectively and net profit was Rs 21.88 lakhs and Rs 17.88 lakhs respectively.
-Company name has been changed from Asia Fab Ltd to Black Rose Industries Ltd.
-Black Rose Industries enters into Foreign Technology License Agreement .
-Black Rose Industries has given the Bonus in the Ratio of 1:1
-Black Rose Industries has Commenced commercial operations at Jhagadia Plant.
-Black Rose Industries appointed Mr. Sujay R. Sheth as an Independent and Non - Executive Director.