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Ashoka Refineries Ltd. Company History and Annual Growth Details

ASHOKA REFINERIES LIMITED was originally incorporated as a private limited company on 1st October, 1991 with the Registrar of Companies, Madhya Pradesh at Gwalior. It was subsequently converted into a Public Limited Company with effect from 25th November, 1994 in terms of the resolution passed in the Extra Ordinary General meeting of the Company held on 8th November, 1994.

PRESENT BUSINESS

The Company is presently engaged in the business of refining of crude edible oil by semi-continuous process with an installed capacity of 7500 MTA at its factory site located at Plot No.34, Rawabhata Industrial Area, Raipur. The Company started commercial production in January, 1993. The Company was sanctioned a Term Loan of Rs. 81 lakhs by M/s. Madhya Pradesh Audhyogik Vikas Nigam Limited, and working capital limits of Rs. 245 lakhs by Union Bank of India, Raipur for the existing unit.

The Company is now taking up an expansion cum modernisation project with a view to increase the capacity of refining crude edible oil to 15000 MTA.

MAIN OBJECTS OF THE COMPANY

The main objects of the Company as stated in the Memorandum of Association are as under:

1. To carry on business to import export buy, sell, manufacture and refine prepare and deal in oil and oil substances and to set up oil extraction and refine oil plant.

2. To undertake whole sale and retail business or indenting of all kinds of oil products.

SUBSIDIARY OF THE COMPANY

The Company does not have any subsidiary.

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