Nahar Industrial Enterprises Ltd

Nahar Industrial Enterprises Ltd

Nahar Industrial Enterprises (NIEL) was promoted by the OSM Group in Sep.'83 as a public limited company as Oswal Fats and Oils. To begin with the company installed a fatty acid unit with an annual capacity of 10500 tpa and the plant was commissioned in Feb.'85. The main products were hard oil fatty stearic acid and distilled glycerine. NIEL installed in Feb.'87 a plant for production of oxygen with an annual capacity of 648000 cubic mtr. It integrated backward by installing a solvent extraction plant during 1987. Subsequently the company expanded its facilities as well as diversified into the manufacture of toilet soaps. The company went public in Jan.'93 to part-finance the setting up of a writing and printing paper manufacturing unit and a vanaspati ghee manufacturing plant. However the paper project has not yet been commissioned whereas the vanaspati ghee plant has been set up with a capacity of 19800 tpa which is being expanded to 33000 tpa. The company's spinning units for cotton and blended yarn (cap.: 50000 spindles) are under installation at Latru and Mundian Kalan near Ludhiana. In 1994-95 its name was changed to Nahar Industrial Enterprises. During the year 1997-98 Nahar Fabrics Ltd. has been amalgamated with the company.During 1998-99 the company commenced commercial production of its spinning unit at industrial focal point phase-VIII. It has also finalised an expansion scheme by installing additional 80 Nos Picanol Airjet Looms at a total cost of Rs 36.95 crs.The Hon'ble High Court of Punjab & Haryana at Chandigarh has given order for convening the meeting of Equity Shareholders Secd. Creditors Unsecd. Creditors on 27.10.01 to consider Scheme of Amalgamation of Oswal Cottom Mills with the company.The Company has amalgamated Nahar International Ltd with itself w.e.f.29th April 2005. According to the Scheme of Amalgamation the company has allotted THREE equity shares of Rs.10/- each for every TWELVE equity shares of Rs.10/- each held by the shareholders of Nahar International Ltd.The Company has also amalgamated Nahar Sugar & Allied Industries Ltd with itself from 29 April 2005. As per the Scheme of Amalgamation the company has allotted THREE Equity Shares of Rs.10/- each for every TEN Equity Shares of Rs.10/- each held by the shareholders of Nahar Sugar & Allied Industries Ltd.During the year 2005 Nahar International Limited (NINL) and Nahar Sugar & Allied Industries Limited (NSAIL) were amalgamated with Company vide order dated 4th March 2005 passed by Hon'ble High Court of Punjab and Haryana Chandigarh. Pursuant to scheme of amalgamation the entire business all assets and. all liabilities of erstwhile NINL and NSAIL vests in the company w.e.f. 1 April 2004. During the year 2004-05 the company installed 130 weaving looms and 1872 rotors; it also installed continuous dyeing range mercerizing machine commissioned during July 2005. The Company commenced commercial production of the unit II process with a capacity of 50000 meters per day and yam dyeing plant with a capacity of 5 tons per day at Lalru Punjab. Thereafter it commissioned 8MW power plant at Amloh Punjab and a 12 MW power plant at Lalru Punjab.Nahar Retail Ltd. [(Wholly owned subsidiary of the company) name was Cotton County Retail Ltd. (CCRL) and CCRL ceased to be a subsidiary of the Company during year 2008.