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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

- 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

- (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

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.