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Consolidated Finvest & Holdings Ltd. Company History and Annual Growth Details

1986 - The Company was incorporated on May 1, 1986 under the name of
Konica Photo Films (P) Ltd. The Company's name was changed to
Bhimtal Photo Films (P) Ltd. with effect from July 17, 1986. The
Company thereafter, acquired a photographic unit located at
Bhunital, District Nainital (UP) in July, 1987.

1988 - The Company was subsequently converted to a Public Limited
Company on December 5.

1990 - The Name of the Company was further changed to Jindal Photo Films
Limited with effect from November 27. The Company diversified
into the conversion of color roll films in 1988 under the brand
name `Super Plus'.

1992 - The Company launched the Fuji Film and Fuji Color brand in the
country from February. The Company undertook conversion of other
specialised photographic products such as graphic art film,
X-ray films, medical imaging film and industrial X-ray films.

- Effective 1st January, Phototech Ltd., engaged in similar
business as that of Jindal Films mixed with the Company and
97,266 No. of equity shares of Rs 10 each were issued for
consideration other than cash.

1993 - During the year under review, the company made public Issue of
8,70,000 No. of Equity Shares of Rs 10 each at a premium of
Rs.140 per share.

- The company has been awarded a rate contract from the directorate
general of supplies and disposals in December for the supply of
Medical X-ray films.

1994 - The company has entered into a price agreement with DGS&D for the
supply of its Super plus brand of 35mm cine color positive films.
The company has become the first private sector company to have
such an arrangment with the DGS&D.

- The company has successfully commissioned the Dadra project
situated in the Union territory of Dadra & Nagar Haveli during
the month of October, 1993.

- During the year the company has introduced black and white
photographic paper.

- The company has made a bonus issue in the ratio of 1:1 by
capitalisation of general reserve.

- During the year under review the company has set up a new unit at
Dadra in the union territory of Dadra & Nagra Haveli and energy
efficient devices has been installed in the new unit wherever

- The Company proposed to introduce voltage regulator on H.T. side
instead of conventional L.T. side, thereby saving of power would
be to the tune of Rs. 1 lac per annum.

1995 - The Company undertook to set up a project for expansion of
capacities at the existing unit at Dadra for manufcture of
photographic products. Also, another project for manufacture of
cameras & photo chemicals were undertaken. In addition as a
backward integration project for manufacture of spooler and
cassettes were also undertaken.

- During January, the Company issued through a prospectus 6,00,000
No. of equity shares of Rs 10 each at a premium of Rs 200 per
share and another 50,60,000 No. of equity shares of Rs 10 each at
a premium of Rs 185 per share as follows:

- Of the 6,00,000 shares at a premium of Rs 200 per shares the
following were reserved and allotted in a firm basis: (i)
3,55,000 shares to LIC Mutual Fund. (ii) 50,000 shares to Indian
Bank Mutual Fund. (iii) 25,000 shares to BOI Mutual Fund.
(iv) 70,000 shares to ICICI Mutual Fund and (v) 1,00,000 shares
to SBI Mutual Fund.

- The Company also offered 32,00,000-10% cumulative convertible
preference shares of Rs 10 each (only 19,800 shares taken up),
20,000 shares were reserved for allotment to employee (non were
taken up).

- Balance 30,00,000 CCPs & 50,60,000 No. of equity shares of Rs 10
each were issued at a premium of Rs 185 per share to the public.
200 CCDs not taken up by employees were issued to the public.
Through a letter of offer 226,88,128-10% CCDs were issued at par
to the shareholders in proportion 2:1. Each CCD was to be
converted into one equity share of Rs 10 with in a period of 30
months from the date of allotment.

1996 - During the year a devastating fire broke out in the head office
due to which records were destroyed.

- Approval was received for commerical production of Fujittant for
various chemicals & regular production was expected to commence
in September 1997. The company undertook to set up a roll film
unit-II in Dadra.

- 34,74,532 shares allotted to promoters (of which 17,37,260 bonus
equity shares issued in prop. 1:1 in 1992). During January 1993,
the Company issued through a prospects 8,70,000 No. of equity
shares at a premium of Rs 140 per share to the public. 43,44,532
bonus shares issued in prop. 1:1. 26,55,000 shares allotted to
promoters on preferential basis.

1997 - Jindal Photo Films Ltd is proposing to put up an assembly line
in Dadra, as and when the market share of cameras increase.

- The company launched Fujicolor Superia (colour film) in the
city with 100/200 ASA.

1998 - Jindal Photo Films Ltd has announced the introduction of their
latest range of products and services in India. The new range
includes the latest in international technologies in photo
finishing lab machines, photographic chemicals, photographic
colour papers and film rolls. The new range includes FujiFilms
new ultra-compact SFA-238 advanced photo system.

- The company has a marketing and technical tie up with Fuji Photo
Film Co. Ltd, Japan. Jindal Photo Films produces a wide range of
products, including colour films, colour paper, medical X-ray
films, cine colour positives, graphic art films, industrial X-ray
films and black and white paper.

- Jindal Photo Films Ltd is the market leader in the photographic
goods business in India and holds a major market share in many
product categories.

1999 - The company is also planning to open 150 additional `FujiFilm
Image Service' (FIS) outlets in the next fiscal, taking the
total number of such outlets to around 400.

- Jindal Photo Films Ltd (JPFL), market leader in photographic
films, plans to capture 40 per cent of the market share with the
launch of its new extra-sensitive Fujicolor "Crystal" films.

- Fujifilm announced the launch of its digital minilab, at
Photofair 99, through its Indian associate, Jindal Photo Films.

2000 - Jindal Photo Films Ltd (JPFL) has launched a comprehensive
range of printing media for desktop and commercial outdoor

- Jindal Photo Films Ltd (JPFL) has expanded its medical diagnostic
equipment range with the introduction of Fuji Thermal Imager
FTI-500, Fuji Laser Imaging Films (LI-IM/LI HM), Fuji Computed
Radiography Systems (FCR) and Automatic Film Processors (FPM).

- The company Indian's largest manufacturer of photographic
products, launched the world's smallest digital camera

- The Company has launched a `Roll Mein Gold' scratch-and-win scheme
for its high-end roll film.

2001 - Jindal Photo Films Ltd., a manufacturer of photographic products, in association
with Clickcricket.com has launched an online Fujifilm cricket photogallery.


-Changes in the Management:
Mr Rathi Binod Pal & Mr Shammi Gupta appointed as MD and Whole time director on the Board of the company respectively. Mr Vimal Kumar Khemka resigns from the Managing Directorship.


-Evinces Expression of Interest to take over loss making Hindustan Photo Films Manufacturing Co. Ltd.

-Acquires 1,50,00,000 Optionally convertible Preference shares of Jindal Polyester Ltd.

-Ashwarya no longer to remain the brand ambassador of Fuji brand of Photographic products.

-FujiFilm revamps the marketing strategy, whereby it would focus its marketing activities on the ameteur segment.

-Starcom MediaVest Group handles the media planning & buying for Fuji Films.

-Approved the change of name of the company from Jindal Photo Films Limited to Jindal Photo Limited.

-JPL signs new pacts for endorsement of Fuji Films

-Jindal Photo Ltd has informed that the UP Stock Exchange Association Ltd, Kanpur and the Delhi Stock Exchange Association Ltd have approved the delisting of shares of the Company w.e.f. December 31, 2003 and February 11, 2004 respectively.

-Jindal Photo Limited has informed that The Stock Exchange, Ahmedabad, have approved the delisting of shares of the company w.e.f. February 23, 2004.

-Company has changed its name from Jindal Photo Ltd to Consolidated Finvest & Holdings Ltd.


--Registered Office of the Company has been shifted to 19th k.m. Hapur-Bulandshahr Road, P.O. Gulaothi, Dist. Bulandshahr, Uttar Pradesh - 245408.


-Company recommended final dividend of Rs 0.50 per share.