1985 - The Company incorporated on 8th March, at Mumbai. The main
objective of the company is to manufacture Trading, manufacturing
dyes and dye intermediates and acting as distributors and
- 70 shares subscribed for by the signatories to the Memorandum of
Association. 1,99,930 shares were then issued at par out of
which 77,930 shares were reserved and allotted to promoters,
directors, etc. The balance 1,22,000 shares were offered for
public subscription during August (all were taken up).
1991 - 1,50,000 rights equity shares issued at par in prop. 3:4.
1992 - Early in Orchem Pvt. Ltd., became a wholly owned subsidiary of
- The Company proposed to issue rights equity shares at par in the
proportion 20 new equity shares of Rs. 10 each for every 1
existing equity share of Rs. 10 each.
- Another 50,000 No. of equity shares were to be offered at par to
the employees on an equitable basis.
1993 - Orchem Limited a wholly owned subsidiary of your Company is
amalgamated with the Company w.e.f. 01/04/1992 pursuant to Order of
Hon'ble Hight Court, Mumbai dt. 8th July, 1993.
- 70,00,000 Right Shares were offered to Shareholders and 5,000 Shares were
reserved for employees of the Company to part finance manufacturing project
of ORCHEM LTD. at Vapi, Gujarat.
- Out of 5000 Equity Shares reserved for employees 2,200 Equity Shares were
taken up by them, the rest were allowed to be lapsed.
- 3,37,500 No. of Equity Shares were issued and allotted by private placement
to Financial Institutions.
1994 - Effluent treatment plant has been commissioned to treat the
liquid wastes before releasing them to the GIDC's carrying line.
- On 1,000,000 Noi. of Equity shares alloted on December 27, @ Rs. 0.42 per
share of Rs. 420,000
1995 - The Company is implementing a forward integration scheme, which will
increase the production capacity of Pigments by 670 tpa.
- Shri Shrikant K. Kothari and Shri Nikhil S. Kothari resigned as Directors of the
company w.e.f. 01/11/1994.
1997 - During the year under review 1050,000 Zero Interest Secured Non-convertible
Debentures of Rs.120/- each aggregating Rs. 126 million were issued and
allotted by private placement to the Industrial Credit & Investment Corporation
of India Ltd. and SCICI Ltd.
- 300,000 Non Convertible Debentures (Series I) of Rs. 100/-each allotted on
11th January, 1996 are redeemable in three equal instalments commencing on
the expiry of the 3rd year from the date of allotment and ending on the expiry of
the 5th year from the date of allotment.
- 873,000 Non Convertible Debentures (Series II) of Rs. 120/- each allotted on 27th
September, 1996 are redeemable in twelve equal quarterly instalments commencing
from 15th December, 1998 together with a premium of Rs. 10/- with each instalment.
- 177,000 Non Convertible Debentures (Series III) of Rs.120/-each allotted on 19th
December, 1996 are redeemable in twelve equal quarterly instalments commencing
from 15th October,1998 together with a premium of Rs. 8.80 with each instalment
1999 - Performance of the Industries have been adversely affected on
account of liberalisation process without provision of a level playing
field for the Indian manufacturers.
- During the year, first instalment of Rs. 9.9 million towards redemption of
300,000 18.5% Secured Non-convertible Debentures of Rs. 100/- each
(Series I) was paid. The face value of these Debentures is now reduced
to Rs. 67/- per Debenture.
- Shri Parag S. Kothari and Shri Nikhil S. Kothari have resigned as
Directors of the Company w.e.f. 1st August, 1999.
2000 - The Company has increased its authorised share capital from Rs 10
crores to Rs 16 crores and issued 7,00,000 non-convertible
redeemable cumulative preference shares of Rs 100 each.
-Jaysynth Dyestuff members approved delisting from Ahmedabad Stock Exchange