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Globus Corporation Ltd. Company History and Annual Growth Details

YEAR EVENTS
1984 - The Company was incorporated as Private Limited company on 13th
November, and later on converted into a Public Limited Company
through a special resolution passed on 31st day of October, 1994
and a fresh Certificate of Incorporation pursuant to conversion
into Public Limited Company, was issued by the Registrar of
Companies, Andhra Pradesh, Hyderabad on the 16th day of December,
1994.

- Presently the Company is engaged in the manufacture of All
Aluminum Conductors (AAC) and Aluminum Conductors Steel
Reinforced (ACSR), the total plant capacity being 1200 TPA (Tonne
Per Annum).

- The said unit with an installed capacity of 1200 TPA has been set
up with financial assistance from Andhra Pradesh State Financial
Corporation.

- The Company has been promoted by Dr. Mahendra C. Shah, Shri Kirti
C. Shah, Shri Ashok C. Shah, Shri C. N. Patwa and Shri J.C. Shah.

1994 - The Company proposes to expand its operation by undertaking the
manufacture of various types of Transmission Conductors like ACSR
and AAAC at its existing unit at Medak in Andhra Pradesh.

1995 - The Company has entered into know-how agreement with DPPL on 24th
July, for providing technical assistance in drawing, design,
fabrication and installation of the machineries for the
manufacture of AAA Conductors and Cables.

1996 - The Company Public Issue of 75,70,000 No. of Equity Shares of Rs.
10/- each for cash at par aggregating to Rs. 757.00 lacs.

1997 - The company is planning to install one Wire Drawing Machine and
one Bull Block machine before 30th November.

2003
-Made one time settlement with State Bank of India. In the last balance sheet the secure loan on account of SBI was Rs 22.80 million. After one time settlement the outstanding amount is Rs 8.50 million involving waiver of Rs 14.30 million.

-Karuna Cables Ltd. has informed that the Regsitered office address had been changed to 102, Sanjay Chambers, 1st floor, Chouble Lane, Opera House, Mumbai. 400 004.
 
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