Kandhari Rubbers Ltd. कंपनी का इतिहास और वार्षिक वृद्धि विवरण

The company was incorporated as a public limited company on 27th December, 1985 under the name of Kandhari Electronics Limited, which was later converted to Kandhari Rubber Limited on 11th April, 1988, and obtained the Certificate for Commencement of Business on 9th March, 1989 from the Registrar of Companies, Rajasthan at Jaipur.

The company has been promoted by Mr. Harish Kandhari and Mr. Jagdish Kandhari alongwith their associates, for setting up a automotive butyl tube manufacturing plant with an installed capacity of 6.51 lakh tubes per annum at Sukher, Tehsil Girva, Distt. Udaipur, Rajasthan.

The Company was sanctioned financial assistance of Rs. 455 lakhs in June, 1989 by the IFCI, IDBI & ICICI, to meet a part of the cost of the project estimated at Rs. 705 lakhs. The project was then expected to commence commercial production from April, 1990.

The implementation of the project was delayed initially due to delay in bringing in the promoters contribution and subsequently due to seizure by the income tax department of FDRs of Rs. 95 lakhs mainly made out of loan funds to the company from the institutions, during a search carried out on the promoters and their group concerns in September, 1990. The FDRs were released by the income tax authorities in two installments during February; 1991 and January, 1992. The investigation in the
seizure proceedings are over and the demand raised by the income tax department is under appeal.

SUBSIDIARY OF THE COMPANY

The company has no subsidiary at present.

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