|Ranjeev Alloys Limited (hereinafter referred to as the 'Company') was incorporated on 12th October, 1990 as a Private Limited Company under the Companies Act,1956 and was converted into a Public Limited Company vide fresh certificate of incorporation consequent on change of name issued by the Registrar of Companies, Kanpur on 16th November,1992, to carry on the activities as detailed in the main objects of the
Memorandum of Association of the Company under the caption 'Main Objects of the Company.'
Ranjeev Alloys Ltd. is in the process of setting up the proposed unit and has yet to commence the commercial production. As on date it has not transacted any commercial operations. The company is presently in process of setting up steel furnace and continuous casting machine for producing ingots, billets with an installed capacity of 22800 M.T. per annum based on 3 shift per day and 300 working days per annum basis. The product will mainly be used by rolling mill owners for re-rolling purposes to manufacture flats,angles, rounds, L.T.Iron square, Steel
Strips, Bars, Skelp etc. However as mentioned elsewhere in the prospectus the entire production of this until will be consumed by the sister concern Modern Steel Industries.
The industry pertain to key sector on which whole development of the country is based. Hence it is likely to grow with the growth in the civilisation/industrialisation resulting in the growth in construction activities. Moreover there is no Billet manufacturing unit in the near vicinity while number of re-rolling mills are therein Ghaziabad, Meerut, Muzaffar Nagar and more are coming up.
Implementation of the project is in progress. As on 31.10.1994 the company has already purchased the land and constructed the boundary wall. The site development work has started. The construction of main shed as started. The company has placed orders for critical plant and has also identified supplier of other plant and miscellaneous fixed assets. The power load of 3500 K.V.A. has been sanctioned by UPSEB.
The company has also applied for the sanction of working capital limits with Oriental Bank of Commerce, Wright Ganj., Ghaziabad. The application of the company has been submitted to U.P.P.C.B. for obtaining the N.O.C., regarding water and air pollution which is under consideration. The critical areas in this industry are the availability of Power and Raw Materials.
The company will make arrangement for regular supply of power by Installing D.G. Sets. The provision of which has already been taken in the project.
PRESENT BUSINESS OF THE COMPANY
The Company is at present involved in setting up the facilities to manufacture M.S. Billets with an installed capacity of 22800 MT per annum at Village Morta 25 K.M. Delhi Meerut Road,Ghzaziabad.
-Ranjeev Alloys Ltd has informed that the shareholders at their meeting held on September 30, 2003 approved the delisting of its securities from Ludhiana, Delhi and Uttar Pradesh Stock Exchanges.