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Balurghat Technologies Ltd. Company History and Annual Growth Details

1993
- The Company was incorporated on 30th June, by converting a partnership firm M/s. Balurghat Transport company into joint stock company. Certificate for Commercial of Business was obtained on 2nd July, 1993. It was promoted by Uttam Chand Sethia and Bachhraj Sethia. The Company has 180 branches and service centres spread over 23 states of the Country. There are 20 LCV trucks, 15 cars.

1994
- The Company proposed expansion of its transport business by additions of 100 new trucks and more hired transport. It was also proposed to export diamonds, precious stones, semi-precious stones and other related activities.

- An additional outlet pump and motor spirit out let pump were to be installed at the existing oil station at Khejurighat in Malda district.

- 30,00,000 No. of equity shares of Rs 10 each issued, subscribed and paid up. 152,00,000 No. of equity shares were issued at par in June 1994 as follows:

- (i) 38,00,000 No. of equity shares to promoters, directors etc. Of the balance, the following were reserved for allotment on a preferential basis:

- (i) 4,69,000 shares to employees (only 59,300 shares taken up);

- (ii) 22,80,000 shares to Indian Mutual Funds (None were taken up);

- (iii) 11,40,00 shares to NRIs on non repatriation basis (30,100 shares taken up).

- Balance 78,11,000 shares along with 34,99,600 shares not taken up under pref. quota issued to public (all were taken up).

1995
- Margin was under pressure due to stiff competition and the violent fluctuations in lorry hire market. The sale of petroleum product also suffered due to short supply throughout the year.

1996
- The operations of the Company was affected due to general election, restriction imposed by the Supreme Court restraining the carriage of forest products coupled with natural calamities
and political instability.

1997
- Profitability of the Company was affected due to general economic depression.

2000
- The Registrar of Companies has approved change of name for Balurghat Transport Company Ltd to Balurghat Technologies Ltd.

- The Company has entered into agreement with CDSL and MCS Ltd, Calcutta (R&T Agents) for dematerialisation of shares.

2003
- Delisting of its equity shares from Jaipur, Madras and Kolkata Stock Exchanges.

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