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Cupid Ltd. Company History and Annual Growth Details

CUPID RUBBERS LIMITED (hereinafter referred to as CRL) was incorporated as a Public Limited Company on 17/02/93 with the Registrar of Companies, Maharashtra and the certificate of commencement of Business was obtained on February 20, 1993. The Company has its Registered Office at Bombay and factory at Sinnar MIDC, District Nasik.

Since incorporation of the Company, the Promoters have been involved in getting the various approvals, signing the collaboration agreements etc. The Promoters carried out a survey of the rubber prophymactics market to search for the best available foreign technology. Collaboration agreements were signed by the Company with M/s. Greenmate Corporation
and M/s. Hero Corporation, both of South Korea on August 31, 1993. The Company applied to the Government for SIA registration, approval for foreign collaboration and investment by the collaborators, which was granted on 3rd December 1993. The Company then acquired the land from MIDC on leasehold basis, obtained the power sanction from MSEB, environment clearance, water sanction from MSEB. Further it applied to the Institutions/Banks for loans and working capital facilities which have also been sanctioned.

2003 - Reduce the paid up share capital of the Company which has been lost against the accumulated losses to the extent of Rs 8/- per share aggregating to Rs 54180800, subject to the members approval in the EGM to be held on December 29, 2003.

-Cupid Rubbers Board defers Reduction in Share Capital