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Goodricke Group Ltd. Company History and Annual Growth Details

1977 - The company was incorporated on 14th June and the certificate of
commencement of business was obtained on 27th June. It was
formed to take over the Indian business and assets of 8 sterling
tea companies comprising 17 tea estates.

- In terms of the scheme of Amalgamation sanctioned by the Calcutta
High Court the company acquired the Indian undertakings of the
sterling companies as a going concern with all their assets and
liabilities as at the close of business on 31st December. The
company carries on cultivation of tea and coffee plantations.

- Eight sterling tea companies viz., The Assam-Doors Tea Co. Ltd.,
Hope Tea Co. Ltd., The Lebong Chulsa Tea Co. Ltd., The British
Darjeeling Tea Co. Ltd., The Chulsa Tea Co. Ltd., The Leesh
River Tea Co. Ltd., The Danguajhar Tea Co. Ltd., and The
Meenglas Tea Co. Ltd., were amalgamated with the Company with
from 31st December.

- 14,43,000 No. of equity shares were allotted by the Company to
Assam-Dooars Investments Ltd., U.K. and 7,77,000 No. of equity
shares of Rs 10 each to Western-Dooars Investments Ltd., U.K.
The balance consideration of Rs 60.2 lakhs was retained by the
Company as interest free unsecured loan from (i) Assam-Dooars
Investment Ltd., U.K. (ii) Western-Dooars Investments Ltd., U.K.
both repayble in five equal instalments and the first of such
instalments fell due on 1st January, 1979.

1979 - 7,79,986 shares issued for cash at par. 60,000 shares to public
financial institutions (20,000 shares each to UTI, LIC & GIC);
59,986 shares to directors, employees and business associates of
the Company who are resident Indian nationals and 6,60,000 shares
to the public during July-August.

1983 - 6,00,000 bonus equity shares issued in prop. 1:5.

1986 - 36,00,000 bonus equity shares issued in prop. 1:1.

1989 - 36,00,000 bonus shares issued in prop. 1:2.

1991 - 108,00,000 bonus equity shares issued in prop. 1:1.

1992 - Effective 18th May, Tiru Tea Ltd., which has tea estates in the
Darjeeling district of W. Bengal, became a subsidiary of the

1994 - The Company's instant tea project with a capacity of 6,00,000 kgs
of instant tea powder of both cold and hot water soluble variety
made substantial progress.

- The Company received an offer from Himalaya Tea Garden & Farming
(Pvt.) Ltd., Nepal to participate in its equity as a joint
venture partner and play a role with expansion and modernisation

1995 - The Company in participation with other major Tea Companies in
India, invested in a joint venture company (JVC) project India
Blend Pvt. Ltd. This JVC will create a brand image of Indian
Tea for sustained exports to the Russian market.


-The Company is restructuring its operations in Darjeeling by selling off unviable tea estates and simultaneously trying to acquire good tea gardens.

-Mr. BN Ghosh, the present Vice President (Finance) of the Company, as Wholetime Director (Finance) of the Company, effective January 1, 2004.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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