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NRC Ltd. Company History and Annual Growth Details

YEAR EVENTS
1946 - The company was incorporated at Mumbai and is engaged in the
manufacture of Textile Rayon Yarn, Industrial Rayon Yarn, Nylon
Tyrecord, Caustic Soda, Sulphuric Acid, Carbon bi-sulphide,
liquid chlorine, hydrochloric acid and other allied chemicals
and hydrogen gas.

1969 - Collaboration agreements for the production of 2,200 tonnes of
nylon-6 tyre yarn per annum were finalised with Chemtex Fibres of
U.S.A. for the supply of technical know-how and Chemtex Overseas
for the supply of technical personnel and engineering services.

1976 - 102 No. of equity shares forfeited but forfeiture on 34 shares
annulled.

1979 - 51,000 No. of equity shares issued to financial institutions on
conversion of loans.

1980 - 45,642 No. of Equity shares allotted at a premium of Rs 80 per
share upon conversion of debentures.

1981 - The Company received industrial licence for the industrial
preservatives project.

- 45,642 No. of equity shares allotted at a premium of Rs 80 per
share upon conversion of debentures.

1982 - Letter of Intent was received for the manufacture of 1,000 tonnes
per annum of polypropylene continuous filament yarn. The Letter
of Intent was converted into an industrial licence during 1983.

- A registration certificate from the Central Insecticides Board in
connection with the fungicides programme for the manufacture of
three out of six products was received and the industrial licence
was awaited.

1983 - 4 No. of equity shares of Rs 100 each allotted on conversion of
debentures.

1984 - 2 No. of equity shares allotted during the year, 3 No. of Equity
shares remained to be allotted.

1987 - The Board for Industrial and Financial Reconstruction (BIFR)
approved a modernisation scheme.

- The Company installed the Barmeg Single position pilot extruded
spinning and spindraw machinery, imported under TDF scheme.

- The proposal for enhancement of annual licensed capacity of
caustic soda and chlorine by 3908 TPA and 2281 TPA respectively,
received Government approval.

- Caristrap, Ltd. with an issued and paid-up capital of Rs 10 lakhs
is a wholly owned subsidiary of the Company.

- The Board for Industrial and Financial Reconstruction by its
order dated 1st September, declared the Company sick under the
provisions of the Sick Industrial Companies Act, 1985 and
appointed ICICI as the operating agency for the unit. The Scheme
of Rehabilitation submitted by ICICI was approved by BIFR and
major reliefs/connections were offered to the Company.

1991 - The Company received letter of intent for expansion of its
caustic soda plant by 63 TPD based on Membrane Cell Technology.

- Letters of intent were received for the manufacture of fungicides
and industrial preservatives.

- The Company proposed to issue 86,03,638 No. of equity shares of
Rs 10 each at a premium of Rs 65 per share on rights basis in the
proportion of 5:4. Another 4,30,182 No. of equity shares of Rs
10 each at a premium of Rs 65 per share were to be offered to the
employees.

- 87,000 No. of equity shares allotted at par in part conversion of
loans to financial institutions.

1992 - Due to disturbed labour conditions and the consequent lockout in
the latter half of the year the turnover declined. The lockout
was lifted from 2nd May, 1993.

- The Company undertook the modernisation of its rayon and nylon
plants.

1993 - 4,07,250 No. of equity shares issued to the employees at a
premium of Rs 55 per share.

1994 - With effect from 4th August, name of the Company was changed from
'The National Rayon Corporation Ltd., to NRC Ltd.

1995 - Stage Investments Ltd. was Amalgamated with the company.
Amalgamation of Consolidated Fibres and Chemicals Ltd. and Star
Paper Mills Ltd. with the Company effective 1st April, 1996 was
under consideration subject to necessary approvals from the
concerned authorities.

1996 - In view of frequent hike in the power tariff and deterioration in
the Quality of grid supply, the Company proposed to install
Diesel Generating Sets to overcome short and medium term
requirements.

- 12,76,386 No. of equity shares issued to the shareholders of
erstwhile Stage Investments Ltd. pursuant to the Scheme of
Amalgamation.

1997 - The Company undertook to set up a captive power project
envisaging installation of 4 diesel generating sets of 6 MW
capacity each.

- Caristrap Limited, a wholly owned subsidiary of the company, was
amalgamated with the company with effect from 1st April.

2003
-Members of the company approved the delisting of equity shares from Calcutta, Pune and Ahmedabad Stock Exchanges. and approved to Issue of 47,00,000 equity shares of Rs.10/- for cash on preferential basis to the promoter group at a price as per applicable SEBI Guidelines in one or more tranches, in terms of restructuring package sanctioned by FI's.

-Delisting of equity shares from Calcutta, Pune and Ahmedabad Stock Exchanges

2006

-NRC enters into MoU for sale of part of land at Kalyan

2007

-NRC Ltd has appointed Shri. P K Mallik as Director of the Company.

-Nrc Ltd. has informed vide its letter dated October 25, 2007 that: 'the Board, at its Meeting held on 24th October, 2007, have designated Shri M.C. Nalwaya as the 'Chief Financial Officer'.

-NRC Ltd has appointed Shri. L S as an Additional Director of the Company and also as a Managing Director of the Company w.e.f. December 13, 2007.
 
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