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Jindal Steel & Power Ltd. Company History and Annual Growth Details

1998

- The name of the Company has been changed from Orbit Strips Ltd. to
Jindal Steel & Power Ltd. on 12th June.

1999

- Shri O.P. Jindal, Shri Ratan Jindal and Shri M.L. Gupta were
appointed as Additional Directors of the Company in terms of Section
260 of the Companies Act, 1956 and Article 117 of Articles of
Association of the Company.

- Shri M.L. Gupta, appointed as Whole time Director of the Company
w.e.f. 1st May for a period of five years.

- The Company has joined the Depository System and its securities can
be dematerialised.

- The Raigarh and Raipur Divisions of Jindal Strips Limited have been
hived off to JINDAL STEEL & POWER LIMITED pursuant to the Scheme of
Arrangement approved by Hon'ble High Court of Punjab and Haryana.

- The Company has issued 14% 60,00,000 Cumulative Redeemable Preference
Shares of Rs. 100/- each aggregating to Rs. 60 crores on private
placement basis.

- The Steel Melting Shop of the Company, was shut down in May'98 due to
the explosion. It was commissioned in Oct '99.

2000

- The company raised 10.5% Redeemable Cumulative Non-Convertible
Preference Shares aggregating to Rs 10 crores, on private placement
basis.

- Naveen Jindal-controlled Jindal Steel & Power Ltd (JSPL), today
announced the launch of another company Infovergix Technologies Ltd.,
which will provide information technology services and solutions.

- The Company has issued 14% 20,00,000 Cumulative Redeemable
Non-Convertible Preference Shares of Rs. 100/- each aggregating to
Rs.20 Crores on private Placement basis.

- Round Caster Unit set up in Raigarh has been commissioned in the
month of May and has started producing Rounds which is a import
substitution product.

- The Company has entered into an agreement with Maharashtra Seamless
Ltd. for selling 50,000 MT of Rounds annually for next 5 years at a
competitive price.

- The Company has launched Fixed Deposit Schemes in the month of
February, which has received tremendous response form the public.

- The Company launched Infovergix Technologies, marking the foray of
one more old economy company into the infotech sector.

2001

- The Company is setting up a Coal Washery of 2.5 million MT capacity
at the coal mine to meet the additional requirement of coal fo rhte
Sponge Iron Plant.

- The Company has introduced a new value added product, Alloy Steel
Rounds, suitable for manufacture of seamless tubes.

- Jindal Steel and Power Ltd has signed a memorandum of understanding
(MOU) with the Chattisgarh government to invest Rs.6,400 crore in
various projects in the state over the next seven years.

2002

-Jindal Steel & Power Ltd has informed that the Board of Directors appointed Shri M L Gupta as Wholetime Director of the company wef December 23, 2002 in place of Shri S N Singh who has resigned from the Directorship of the company from November 15, 2002.

2003

-Jindal Steel & Power, a OP Jindal Group has converted Rs.200cr of debt to Foreign
currency loan.

-JSP has posted a net profit of Rs. 144.9 million as compared to Rs. 263.7 million for
the same period last year.

-Jindal Steel & Power Ltd. has informed that The Delhi Stock Exchange Association Ltd, (DSE) and The Stock Exchange Ahmedabad (ASE) have communicated their approval regarding delisting of securities from their stock exchange.

2004

-Jindal Steel & Power Ltd. has appointed Mr. Sushil K Maroo as Wholetime Director of the company from May 20, 2004

2005

-Jindal Steel & Power signs MOU with Government of Chhattisgarh on January 07, 2005

-Jindal Steel signs MoU with Jharkand Government on July 05, 2005

-Jindal Steel inks agreement with S. African, German cos for coal gasification facility at its proposed six-million-tonne steel plant in Orissa

2006

-Bolivia inks JV deal with Jindal for El Mutun development

-Jindal Steel & Power Ltd has appointed Shri. Suresh Baid as an Additional Director (independent) on the Board of the Company.

2007

-Jindal Steel & Power Ltd has has appointed Shri A K Purwar, former Chairman, State Bank of India as an Independent Director on the Board of the Company with immediate effect.

- Jindal Steel & Power Ltd has informed that the Board of Directors of the Company has (by circulation) appointed Shri. Ram Vinay Shahi as Additional Director (Independent) and member of the Audit Committee of Directors with effect from October 15, 2007.

-Jindal Steel & Power Ltd has appointed Shri. Arun Kumar Mukherji as an Additional Director and Wholetime Director of the Company with effect from April 01, 2008.

2008

- The Company has splits its face value from Rs5/- to Rs1/-.

-Jindal Steel & Power Ltd has informed that Jindal Power Ltd (JPL), subsidiary of the Company, on September 05, 2008 has commissioned fourth power generating unit of 250 MW. With this, the subsidiary Company has completed the 1000 MW power project and has now the capacity to generate 1000 MW power from this plant.

2009

- Jindal Steel & Power Ltd has informed BSE that the Board of Directors has, vide resolution passed through circulation on January 14, 2009, appointed Shri. Ashok K Mohapatra, Shri. Haigreve Khaitan, Shri. Hardip Singh Wirk and Shri. Rahul Mehra as independent directors of the Company with effect from January 14, 2009.

- Jindal Steel & Power Ltd has appointed Shri Arun Kumar as an independent directors of the Company w.e.f September 16, 2009.

- Jindal Steel & Power Ltd has appointed Shri. Arun Kumar as an Additional Director (Independent) from September 16, 2009, to hold office upto the date of next Annual General Meeting of the Company