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Shree Steel Wire Ropes Ltd. Company History and Annual Growth Details

Shree Steel Wire Ropes Limited (Shree) was incorporated on 29th June, 1992 with the Registrar of Companies, Maharashtra at Bombay. The Company is promoted by Mr. C.N.Shah, Mr. A.R. Shah and Mr. R.L. Shah engaged in the manufacture and trading, including exports of steel wire ropes having a unit for the manufacture of the same with an installed capacity of 1200 TPA at Kanjur Marg, Bombay. The business origin of the unit dates back to 1972 when it was established as a partnership firm under the name Shree Wire Rope Manufacturing Company. The existing business of the partnership firm was taken over by Shree Steel Wire Ropes Ltd. with effect from 1st October, 1992, for a consideration of Rs.125 Lacs. The assets and liabilities of the firm were assigned to the Company vide an Assignment Deed. The consideration for assignment of business by the Partnership firm to the Company on Going Concern basis was arrived at by the common valuer appointed by consent of both the parties at Rs. 1,25,00,000. Only the fixed assets of the firm, mainly plant and machinery, were revalued on the basis of Fair Market Value of the assets as on 01/10/1992.

Now the company is planning to diversify by entering into the manufacture of Auto Control cables. Also the company plans to enter into export of diamonds, gems and jewellary. The company is seeking another new pasture into the field of financial service sector.

SHREE has been awarded Export Excellency Awards from Government of India, Ministry of Commerce for five consecutive yearÂs i.e.1991-92 to 1995-96.

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