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Parekh Platinum Ltd. Company History and Annual Growth Details

HISTORY

PPL was incorporated as a private limited company on July 5,
1982 with the Registrar of Companies, Maharashtra at
Bombay under the name Parekh Platinum Private Limited.
Subsequently, it was converted into a Public Limited
Company in terms of special resolution passed on June 10,
1992 and a fresh certificate of incorporation was issued on
August 24, 1992 in the name of Parekh Platinum Limited.

The registered office & factory of the company is located
at 16B Samhita Industrial Estate, Jeevan Silk Mills Lane,
Off Andheri Kurla Road, Safed Pool, Bombay - 400 072.

On July 1, 1987, the company had acquired the business of
refining process and noble metals, manufacture of precious
metal chemicals, precious and noble metal catalysts, wires,
foils, sheets, plates etc. at 16B, Samhita Industrial
Estate, Jeevan Silk Mills Lane, Off Andheri Kurla Road,
Safed Pool, Bombay - 400072 from Ms. Jyoti Refinery, a
partnership firm consisting of Mr. Jamnadas Nathalal Parekh,
Mr. Jaisukhlal Jamnadas Parekh, Mr. Hasmukhrai Jamnadas
Parekh, Mr. Rajnikant Jamnadas Parekh, Mr. Rajesh Jamnadas
Parekh.

The important terms of the agreement are,

(a) The business was to be acquired as a going concern
including goodwill, but excluding the immovable property.

The company acquired:

(i) all movable assets including stock-in-trade, plant and
machinery, furnitures, motor car etc.

(ii) the current assets and current liabilities as set out
in the annexure to the indenture entered into in this
respect on 10.08.87,

(iii) benefits and uses of all the rights, titles, licences,
and

(iv) goodwill valued at Rs.50,000/-.

The total consideration was Rs. 18,34,078.97.

(b) The consideration in respect of the assignment was paid
to the partners in the form of shares of the face value of
Rs. 9,50,000 and the balance amounts of Rs. 8,84,078.97 by
crediting the accounts of the partners.

The company has also taken on lease the factory building
and 32,000 square feet of land from M/s. Jyoti Refinery.

The major events in the growth of the company can briefly
be presented as follows:

1976 - The activity of precious metal refining starts.

1979 - Diversification into the field of Capacitor materials
business.

1983 - Moved into Platinum group metals business.

1989 - Entered into a technical know-how agreement with
Gemini Industries Incorporated, USA for refining of
spent petrochemical and petroleum catalyst.

1989 - Executed an order for supply of catalyst gauzes worth
Rs. 14 crores to Rashtriya Chemicals and Fertilisers.

1990 - Received order for recovery of platinum from
petrochemical catalyts from IPCL, Baroda.

1990 - Awarded order for supply of supply of catalyst gauzes
and chloroplantinic acid by GSFC, Baroda.

1993 - Commissioned the Gold refining plant.

1994 - Awarded 4 year exclusive contract by GNFC for
catalysts & catchment gauzes.

1994 - Awarded 5 year by GSFC for catalysts & catchment
gauzes.

1994 - Commissioned the Gold Potassium Cyanide project
in collaboration with LeoRonal U.K. plc.

2003

-Mr. Hiten M Parikh was appointed as Additional Director on the Board of the Company.

-Mr. Sanjay Majmudar has resigned as Director of the Company w.e.f. December 03, 2003. Mr. Bharat Ghiya has resigned as an Alternate Director of the company w.e.f. December 03, 2003.

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