|The Company is promoted by Dr. Gaur Hari Singhania, Mr. Yadupati
Singhania, Yadu International Limited and Juggilal Kamlapat Holding
Limited. The Company was incorporated under the Companies Act as
J.K. Cement Limited on November 24, 1994 and obtained its certificate
of commencement of business on the same date. One of the main
objects of the Company, as contained in our Memorandum of Association,
is the acquisition of the whole or substantially the whole of the
undertakings and properties comprising the JKSL Cement Division.
Due to continuous losses, the net worth of JKSL became negative and
consequently, JKSL applied to the BIFR which registered JKSL as a
sick company on April 2, 1998. Subsequently, the matter was referred
to the AAIFR, which formulated a Scheme of Rehabilitation for JKSL.
Pursuant to the Scheme of Rehabilitation, the JKSL Cement Division
was acquired by the Company as a going concern on as-is-where-is basis
through a slump sale, with effect from November 4, 2004. Prior to the
acquisition, the Company did not have any substantial business activity.
The key events in respect of the JKSL Cement Division and the Company
are set forth below:
The grey cement plant at Nimbahera, with an initial capacity of 0.3 MnTPA,
commenced commercial production
A second production line was added at Nimbahera, increasing the capacity
from 0.3 MnTPA to 0.72 MnTPA
A third production line was added at Nimbahera, increasing the capacity
from 0.72 MnTPA to 1.14 MnTPA
Lime-based white cement plant was established at Gotan, with an initial
capacity of 0.05 MnTPA
A captive thermal power plant was installed at Bamania
A pre-calciner was installed at Nimbahera, increasing the total capacity to
The JKSL Cement Division instituted 'Architect of the Year' award
(i) The Company was incorporated
(ii) The 'Regional Training Centre' for Northern India, which was
established at the Nimbahera plant of the JKSL Cement Division with
aid from the World Bank and the Danish International Development Agency,
The total capacity of the white cement plant at Gotan was increased to
0.3 MnTPA as a result of continuous modernization and upgradation
A new grey cement plant with a capacity of 0.75 MnTPA was installed
(i) The Company acquired the JKSL Cement Division
(ii) The total capacity of the grey cement plant at Nimbahera was
increased to 2.8 MnTPA as a result of continuous modernization and
(i) The Company allotted 7,426,950 Equity Shares to the shareholders of
JKSL pursuant to the AAIFR order dated January 23, 2003
(ii) The Company was listed on the BSE
-JK Cement has finalised the issue price of its recently concluded initial public offering (IPO) at Rs 148 per share.
-Jk Cement Limited has informed that w.e.f. 16.12.2006 Mr. Manish Bajpai Company Secretary and Compliance Officer of the company has resigned and in his place Mr. Ashish Sabharwal has been appointed as Company Secretary.
-Jk Cement Limited has appointed Dr. K.B. Agarwal as Additional Director of the Company to hold office until the conclusion of next Annual General Meeting.