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GSL Nova Petrochemicals Ltd. Company History and Annual Growth Details

YEAR EVENTS
1993 - Nova Petrochemicals Limited (NPL) was incorporated as a Public
Limited Company on the 23rd December, in the State of Gujarat and
has been issued the Certificate of Commencement of Business by
the Registrar of Companies, Gujarat, Dadara & Nagar Haveli on 5th
January, 1994.

- The Company has been jointly promoted by two companies of the
"Gupta" Group and two companies of the "Chiripal" Group. Both
the groups are engaged in the textiles business for the last two
decades.

- The Company proposes to set-up a Unit to manufacture Partially
Oriented Polyester Filament Yarn at Village-Moraiya,
Taluka-Sanand, Dist. Ahmedabad.

1998 - The Ahmedabad-based Nova Petrochemicals Limited, manufacturing
partially oriented polyester filament yarn, plans to nearly
double its production capacity from 21,891 tonnes per annum to
42,238 tones at a cost of Rs. 54.50 crores.

- The Company has already arranged financial tie-up for its
expansion project with Industrial Development Bank of India for
Rs. 15 crores, and with State Bank of India and Bank of Baroda
for Rs. 7.50 crores each. The remaining Rs. 24.50 crores would
be found from cash accruals and promoters contributions.

1999 - Nova Petrochemicals Ltd (NPL) has proposed to raise the installed
capacity of its POY Draw Twisting & Texturising plant at its
Sanand facility near here from 25,521 tpa to 41,471 tpa by March.

2000 - Nova Petrochemicals Ltd, the Ahmedabad-based polyester yarn
manufacturing company, has tied-up with MS Technologies Inc, US,
to diversify into software development.

- The Company has entered into an agreement with MS Technologies
Inc. of US for developing software on a job work basis.

2002-Nova Petrochemicals Ltd has informed that Board of Directors of the Company have resolved to cease the appointment of Mr Jyotiprasad Chiripal as permanent Chairman of the Board and the Company in view of Corporate Governance guidelines, however he will continue to be Whole-time Director of the Company.

2004

-Delist from Madras Stock Exchange Ltd (MSE) with effect from December 02, 2004.

2006

-GSL Nova Petrochemicals has given the Bonus in the Ratio of 1:1

2007

-Nova Petrochemicals Limited has informed that "There is a change in Company Secretary and Compliance Officer, Mr. Kalpesh Desai, Company Secretary is appointed as the new Compliance Officer of the Company w.e.f. August 25, 2007 in place of Shri Kalpesh Oza.

2009

-Company has changed its name from Nova Petrochemicals Ltd. to GSL Nova Petrochemicals Ltd.

2010

- GSL Nova Petrochemicals Ltd has appointed Shri. Anil Shvamsunder Singhal as an 'Additional Director' on the Board of the Company in a Board Meeting held on April 30, 2010.

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