Chandni Machines Ltd

Chandni Machines Ltd

The Company was originally incorporated as a Wholly-owned subsidiary company of Chandni Textiles Engineering Industries Limited (Holding Company) on 12th April 2016 under the name of 'Chandni Machines Private Limited'. The Company got converted into Public Limited on 26th July 2018 and name of the Company changed to Chandni Machines Limited. The Company is primarily engaged in trading of engineering goods.The Composite Scheme of Arrangement (Demerger) between Chandni Textiles Engineering Industries Limited (CTEIL) (Demerged Company) and Chandni Machines Private Limited (CMPL) (Resulting Company) and their respective shareholders and creditors was sanctioned by the National Company Law Tribunal Bench at Mumbai vide Order dated 04th January 2018. The Scheme became effective from 24th January 2018 and the Appointed date was 01st July 2016. Pursuant to the Scheme Resulting Company got converted from Private Limited Company to Public Limited Company i.e. from Chandni Machines Private Limited to Chandni Machines Limited (CML) vide fresh Certificate of Incorporation issued by Registrar of Companies Mumbai dated 26th July 2018. Further in consideration of Scheme the Demerged Company had fixed 20th August 2018 as Record Date to determine its shareholder who would be entitled to the shares of Resulting Company in share entitlement ratio of 1:5 i.e. 1 equity share of 10/- each in CML for every 5 equity shares of 10/- each held by them in CTEIL. Accordingly the Board of Directors of Resulting Company on 22nd August 2018 had allotted 3227433 Equity Shares of Rs. 10/- each to the shareholders of CTEIL. Subsequently application for listing of equity shares of CML was made to BSE. The Company received in principle approval from BSE on 9th January 2019 and letter confirming relaxation from Rule 19(2)(b) of the Securities Contract (Regulation) Rules 1957 from Securities and Exchange Board of India (SEBI) on 25th February 2019. The final listing and trading approval for the equity shares of CML was received from BSE on 04th April 2019. The Equity Shares of the Company got listed on BSE with effect from 05th April 2019 pursuant to the Scheme.The Company has built a name for quality machines & equipments reposed by customers to make repeated purchases. The clients are mainly from automobile pharma home appliances textile metalworking forging fabrication mold makers steel bearing glass plastic power generation aviation gear making crankshaft mining & construction and various other units. The Group is a leader in supplying affordable machines both NC ( Numerical Control ) & CNC (Computer Numerical Control.)