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Ellora Paper Mills Ltd. Company History and Annual Growth Details

YEAR EVENTS
1974 - The Company was incorporated on 24th December, at Calcutta. The
original promoters of the Company were Satyanarayan Kedia and
Sitaram Kedia of Ajanta Paper & General Products Pvt. Ltd. The
Company manufacture writing and printing paper, kraft paper and
packing paper.

1976 - Vishwanath Kedia of Nitin Castings Ltd., and Bajranglal Dalmia of
M/s. Prahladrai Dalmia & Sons joined as co-promoters.

1977 - In December, the interest of Kedias of Ajanta Paper & General
Products Pvt. Ltd., in the Company was completely taken over by
the Kedias of Nitin Castings Ltd., and Dalmias of M/s. Prahladrai
Dalmia & Sons who then became the present promoters of the
Company.

- The company was licensed to manufacture 13,200 tonnes per annum
of writing and printing paper, kraft paper and packing paper.

1979 - 100 shares subscribed for by the signatories to the Memorandum of
Association and 4,99,900 shares taken up by promoters, etc.
7,50,000 shares offered for public subscription during
February-March.

1981 - Rs 50 lakhs of promoters unsecured loans were converted into
equity capital.

1988 - The Company came under the provisions of the Sick Industrial
Companies (Sp. Provisions) Act, 1985 and as per the requirement a
reference to the Board for Industrial and Financial
Reconstruction was made.

1993 - The overall performance of the Company was affected by the
prolonged strike by the workers.

1997 - The Company undertook a four crore modernisation plan phased over
a period of two years with a view to cost reduction and quality
improvement.

1998 - The Company launched a four crore modernization cum expansion
plan with a view to achieve the dual impact of cost reduction and
quality improvement.

2003
-The board has approved the allotment of 250000 equity shares of Rs 10 to Sudhir Goenka A/C C P Enterprises at a price of Rs 10 per share on preferential allotment basis.
 
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