|Our Company was incorporated on July 3, 1997
under the Companies Act, 1956 as a
public limited company by the name of
Titagarh Wagons Limited. We received our
certificate for commencement
of business on July 11, 1997.
In 1998, our Company purchased from Titagarh
Steels Limited (TSL), our Promoter Group company,
plant and machinery for a consideration of
Rs. 48.3 lakhs, as estimated by an independent
valuer, S. Sen and Associates,
for setting up its wagon manufacturing unit
at Titagarh, West Bengal.We also acquired 2.36 acres
of land from TSL by a conveyance of sale dated June
18, 2002, for a consideration of Rs. 37.0 lakhs.
We acquired an additional 13.71 acres from TSL,
by way of another sale deed dated April 23, 2004
for a consideration of Rs. 149.0 lakhs, which
also granted our Company the right to use common
passage along with railway tracks and siding
thereon in perpetuity. In the event, TSL sells
the common passage or any part thereof, we shall
have the right of pre-emption to purchase the
common passage at the prevailing market rates.
Our Company entered into a Business Transfer
Agreement (BTA) dated April 4, 2005 with Hyderabad
Industries Limited (HIL) for purchase of its Heavy
Engineering Division with effect from July 8, 2005
as a going concern along with its
entire fixed assets on as-is-where-is-basis for
a purchase consideration of
Rs. 1,00,000 and specified liabilities towards
gratuity payable to all continuing employees
of HILs Heavy Engineering Division as on July 8, 2005.
In addition, to the purchase consideration, our
Company also paid a consideration
of Rs. 420 lakhs towards value of the inventory,
which includes merchandise, goods,raw materials,
consumable spares, stock in process, spares and tools
to the BTA, all the immovable and movable, assets
and properties(except current assets), all benefits
and obligations under all contracts, engagements,
arrangements in connection with or forming part of
HIL (apart from those obligations imposed on the date
of closing of the BTA between the parties) were
transferred to our Company.
(As per Calendar Year)
1997 Year of Incorporation
1998 Purchased Plant and Machinery from Titagarh
1998 Our first order from the Indian Railways
for supply of BOXN and BCNA wagons.
2000 Received Quality Certification ISO-9002
from Lloyds Register Quality Assurance,
2001 Scheme of arrangement/amalgamation between
our Company and Omnicom Webtec Limited sanctioned by
the Calcutta High Court; and Received registration
from the Ministry of Defence, Government ofIndia to
be a licensed manufacturer of Bailey Bridge.
2002 Land measuring 2.36 acres purchased from
Titagarh Steels Limited Received recognition
from the Ministry of Defence, Government of
India, as an Industry Partner for wagon and
2003 Commenced manufacture of BOST and BFNS
type wagons; and Received our first order
from the Indian Railways Public Sector Unit
CONCOR for supply of container flat wagons.
2004 Land admeasuring 13.7 acres purchased
from Titagarh Steels Limited.
Received our first order for export to Africa.
2005 Procured our first order from the National
Thermal Power Corporationfor manufacturing MGR
Procured first private sector order from MSPL
for manufacturing OYWS type wagons;
Entered into a Share Subscription And Shareholders
Agreement with Strategic Ventures Fund (Mauritius)
Limited, Mauritius by way ofpreferential allotment
of Equity Shares of our Company; and
Acquisition of Heavy Engineering Division of
Hyderabad IndustriesLimited pursuant to a Business
2006 Entered into a Share Subscription Agreement
and Shareholders Agreement with 2i Capital PCC,
Mauritius by way of preferential allotment of
Equity Shares of our Company;
Entered into a Investment and Shareholders
Agreement with Goya Limited, Mauritius by way
of preferential allotment of Equity Shares
of our Company; and Executed a Memorandum
of Understanding with Kawada Industries Inc.
for fabrication and construction of steel bridges.
2007 Entered into a Share Subscription Agreement
and Shareholders Agreement with GE.
Received our first order for EMU coaches
from Indian Railways.Entered into a cooperation
and funding agreement with JPMorgan
Mauritius Holdings Limited for the purpose
of proposing a scheme of
revival and rehabilitation for Cimmco Birla
Limited to the Board of Industrial and Financial
2008 Entered into a Joint Venture Agreement with
FreightCar America Inc.
Entered into shareholders agreement with
JPMorgan Mauritius Holdings Limited
- Titagarh Wagons Ltd has informed that Shri. Nand Kishore Mittal has been appointed as an Additional Director of the Company, on and from June 30, 2009.