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Prime Tea Plantation & Industries Ltd.

BSE: 519556 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Prime Tea Plantation & Industries Ltd
NSE 05:30 | 01 Jan Prime Tea Plantation & Industries Ltd

Prime Tea Plantation & Industries Ltd. (PRIMETEAPLANTN) - Company History

Prime Tea Plantations & Industries Ltd (PTPIL) has been incorporated under the Companies Act 1956 as Prime Tea Plantation Industries Ltd as per Certificate of Incorporation issued by Registrar of Companies Maharashtra Bombay and Certificate of Commencement of business was obtained. The Company's name was subsequently changed to Prime Tea Plantation & Industries Ltd and fresh Certificate of Incorporation consequent on change of name was obtained.Promoted by Shri Pawan Kumar Changoiwal and his associates having interests in diverse fields such as manufacturing and trading of textiles and trading in tea.PTPIL proposes to set up a 1800 tpa installed capacity of CTC (Crush Tear and Curl) type of quality black tea from bought leaf at Kotagiri Nilgiri District Tamil Nadu. The best advantage of the product is the easy sale through registered tea auction centres. The prices at these action centres are determined on the basis of quality evaluation and will be sold to the highest bidder at the time of auction. Also Company plans to sell their product directly through dealers being appointed in the state of Rajasthan Bihar and West Bengal where one of the promoter has already established market since he is in tea trading business. And on the basis on his experience 75% of the production can easily be sold in bulk in thes States. Since the Company is planning to sell the product either the auction centre or through dealers the Company does not foresee any problem in selling the same though it is a highly competitive market.The proposed project is conceived based on the fact that the promoters are already in the business of trading in tea which is at present procured from the auction centres at Coonoor Nilgiri Tamil Nadu. As there is a growing demand for tea in the Local market the Promoters proposes to set up a plant for tea processing.