Sirhind Steel Ltd. कंपनी का इतिहास और वार्षिक वृद्धि विवरण

The Company was incorporated on April 16th, 1977 with the Registrar of Companies, Gujarat as a Private Limited Company under the name of Sirhind Steel Private Limited. The Company took over the business of partnership firm of the group in 1980. In 1984 a group Company Sirhind Iron Rolling Mills Private Limited was amalgamated with the Company. It became deemed Public Limited Company under the provisions of Section 43 A of the Companies Act, 1956 in the year 1988. Subsequently, the holding company Malhotra Enterprise Ltd. was amalgamated with the
Company with effect form April 1st, 1993 under the scheme of amalgamation approved by Gujarat High Court, vide order dated February 7th, 1994. Subsequent the Company was converted into a Public Limited Company vide a special resolution passed on September 29th, 1994. The Company at present is engaged in the business of manufacturing bars, rods, structurals etc., with an licensed, installed capacity of 1,14,600 M.T/annum.

SCHEME OF AMALGAMATION

In the year 1984 a group Company Sirhind Iron Rolling Mills Private Limited was amalgamated with the Company. In the said amalgamation, the Company had issued to the shareholders of transferor Company one Equity Share of Rs.100/- each fully paid up for every 10 equity shares of Rs.10/- each held by them in Sirhind Iron Rolling Mills Private Limited. The exchange ratio was at par i.e., for Rs.10 lakhs equity share capital of the transferor Company, Rs.10 lakhs equity share capital of this Company was issued. Further, at no time the assets of the transferor Company were revalued.

The subsequent amalgamation of Malhotra Enterprises Ltd., with the Company w.e.f. April 1st, 1993 has been finalised by the Hon'ble High Court of Gujarat, Ahmedabad, vide order dated February 7th, 1994. In the said amalgamation, the Company has issued 36 equity shares of Rs.100/- each fully paid up to the shareholders of the transferor company for every 10 equity shares of Rs. 100 each held by them in Malhotra Enterprises Ltd. As a result 54,000 Equity shares of this Company were issued in lieu of Malhotra Enterprise Ltd holdings of 52,500 shares. The exchange ratio has been worked out by M/s Manubhai G. Patel & Co., Chartered Accountants. No revalution of assets of the transferor company was made.

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