|Stanpacks (India) Limited was originally incorporated as a Private Limited Company on 20th December, 1991. It was later converted into a Public Limited Company on 4th August 1994 vide a Special Resolution passed at the Annual General Meeting of the Company.
The Company is presently engaged in the manufacture of Filling a discharging machinery which are used for bulk packing of free flowing materials like granules, powders,etc. The Company has an existing collaboration arrangement with M/S.Bagfilla Overseas Ltd. for supply of
technical know-how, manufacturing specifications, and assembling instructions on a continuous basis for manufacture of these Filling a Discharging machines. Stanpacks (India) Ltd., gets components of these machines fabricated on job work basis and assembles and sells the
completed units. One of these machines has already been exported to Malaysia. The Company is also engaged in the manufacture of HDPE Jumbo Bags by conversion of HDPE fabric procured from outside and Jute Bags. The Jute bags manufactured by the Company have been awarded the
- India Star Award 1994 by the Indian Institute Of Packaging and
- World Star For Packaging 1994 by World Packaging Organisation.
TAKE-OVER OF EXISTlNG UNITS
As a part of the proposed project for setting up an integrated unit for manufacture of Paper/HDPE/Hessian based packing materials the Company has, with effect from 1.10.94 acquired the manufacturing facilities of a group concern Polycoat Packaging Industries on a going concern basis. The firm has been takenover for a total consideration of Rs. 8.15 lacs which is the payment for the Land (Rs.1.66 lacs) and fair value of Plant & Machinery (estimated at Rs.6.49 lacs with a residual life of minimum 7 years as per the valuation report submitted by Shri. R.N.Subramanian,
Chartered Engineer) acquired from the concern.
Stanpacks (India) Ltd. has entered into an agreement dated the 1st Dec.94 with another group concern Standard Packagings for taking over the entire assets of the firm with effect from 1st April 95, for a total consideration of Rs.86.84 lacs.This consists of payment for factory Land at Nellore and Sholavaram (Rs.22.29 lacs), Factory Building (Rs.14.00 lacs), Plant a Machinery (estimated at Rs.46.00 lacs with a minimum residual life ranging between 4 to 5 years as per the valuation report submitted by Shri.R.N.Subramanian, Chartered Engineer), miscellaneous
Fixed Assets including Electrical Equipment, Furniture etc. (Rs.4.45 lacs) And nominal value for patents (Rs.0.10 lac). The Company has also entered into another agreement dated the 15th Dec.94 with another group concern Standard Paper Industries Corporation for taking over the entire assets of the firm with effect from 1st April 95, for a total
consideration of (Rs.7.58 lacs). This consists of payment for Land(Rs.4.06 lacs), Plant a Machinery including miscellaneous Fixed Aseets (estimated at Rs. 3.02 lacs as per valuation report submitted by Shri.R.N.Subramanian, Chartered Engineer), and Furniture (Rs.0.50 Lacs).
In further continuance of the agreement for acquisition of the business of the three group concerns, Stanpacks (India) Ltd. has also entered into an agreement dated the 1st Dec. 94 with the five Promoter Directors restraining them from carrying on any business either directly or indirectly in any form whatsoever, relating to manufacture of packing
materials and paper products for a period of 10 years with effect from 1.04.95. In compensation, Stanpacks (India) Ltd. has paid the Promoter Directors a sum of Rs.20.00 lacs on the 14th Dec. 94.
-Stanpacks India members approve to delist its share from Bangalore Stock Exchange
-Stanpacks India Ltd has appointed Sri. G S Sridhar and Sri G V Gopinath as an Additional Directors of the Company with effect from September 25, 2008 at the Board Meeting held on September 25, 2008.