|The Company was incorporated by Smt. V Leelavaty, Dr.Smt.Santhi Siri, Sri. K.Ravindra Babu, Smt.K. Amrutha Devi, Smt.A.Rajeswari, Sri K.Rajeswara Rao and Sri V.Mohan at Hyderabad in the State of Andhra Pradesh on 26th March, 1987 as a Public limited company with main objects, inter alia, to manufacture and carry on the business of import, export, buying, selling, trading, distributing and retailing all kinds of ophthalmic lenses and other lenses pertaining to the field of optics and raw materials for such lenses including glass, CR 39 Monomer, Hard resins, Polycarbonate, Acrylic and other man made materials etc. The Company has obtained the Certificate of Commencement of Business on 1st December, 1988. The main objects of the Company are fully set out in the Memorandum and Articles of Association and also detailed elsewhere in this prospectus. The immediate object of the Company is to set up a 100% export oriented unit to manufacture hard resin ophthalmic lenses at an installed annual capacity of 2.5 million pairs. Sri K V Rao, Sri Krishna Dev Rao Kasuganti and Sri V Mohan were the first Directors of the Company.
The main promoters of the project Sri K V Rao and Sri Krishna Dev Rao Kasuganti, both NRI professionals, are from Pittsburg, U.S.A. Sri K V Rao, the Managing Director of Techtran Polylenses Ltd is a Post-graduate Engineer with wide experience in various capacities in steel and other core sector Industries. He has worked in Lykes Resources Inc., Pensylvania, U.S.A. from 1975 to 1978 as Director of Engineering and from 1978 to 1989 in various capacities from Works Engineer to Chief Engineer in LTV Steel Company, Pensylvania, U.S.A. He has also-successfully implemented Greenfield project viz., Emerald Mining Complex, Pensylvania, U.S.A. to the tune of US $ 100 million. He resigned from the position of Chief Engineer of LTV Steel Company, USA He has also-successfully implemented Greenfield project viz., Emerald Mining Complex, Pensylvania, U.S.A. to the tune of US $ 100 million. He resigned from the position of Chief Engineer of LTV Steel Company, USA before returning to India in 1989.
Sri Krishnadev Rao Kasuganti, Executive Director of the Company is an MBA in Marketing (USA) and held senior positions in M/s Downtown Motors, Pittsburgh, PA. for over 20 years. The other members of Techtran are working as professionals in USA Sri K V Rao and Sri Krishna Deva Rao Kasuganti have relocated to India to implement the project.
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