Raj Oil Mills Ltd

Raj Oil Mills Ltd

Raj Oil Mills Ltd was incorporated on October 17 2001. The company was promoted by Shaukat S Tharadra. It acquired the running business of Raj Oil Mills partnership firm in 2002. Raj Oil Mills partnership firm founded in the year 1943 by late Haji Suleman Jamal. The Company was formed to undertake the business of buying selling manufacturing processing of edible oils edible oil seeds and other related products. At present it is engaged in the business of Crushing and Oil Filtration with a capacity of 5000 TPA and 30000 TPA respectively.During the period 2010 Company commenced Commercial Production at Jaipur. During the period 2009-10 the Company allotted 9500008 Equity Shares of Rs. 10/- each at a premium of Rs. 110/- each on August 4 2009 pursuant to its Initial Public Offering and consequent to this the Equity Shares of the Company were listed on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited effective on August 12 2009. In 2010-11 it commissioned commenced Commercial Production of its Project located at Manor district Thane. Cost Effective Process with the technique of ERP was started at Head office and Manor plant in 2012-13. During the period 2012-13 the Company allotted 35000000 Equity Shares underlying 700000 GDR's for which it received Listing and Trading Approval from the Stock Exchanges where the securities of the Company are listed.The Board of Directors of the Company at their meeting held on June 6 2014 has referred the Company to the Board for Industrial and Financial Reconstruction (BIFR) and the application to the BIFR Board was submitted on June 9 2014. The BIFR accepted the application of the Company and the case was registered u/s.15 (1) of the Sick Companies (Special Provisions) Act 1985 with Board vide order dated12th January 2015 however BIFR was dissolved and implementation of the Insolvency Bankruptcy code 2016 all the pending cases were transferred to National Company Law Tribunal (NCLT). Further to this the Company had received order dated July 10th 2017 from Hon'ble NCLT Western Region for appointment of IRP (Insolvency Resolution Professionals) for complying Insolvency Bankruptcy code. Pursuant to the Order dated July 10th 2017 the period of moratorium as contemplated under section 14 of the Insolvency & Bankruptcy Code2016 came in to force which concluded on 2nd May 2018 during this period affairs of the Company was managed by the Resolution Professional appointed by the Hon'ble NCLT.The Control and Management of the Company was taken over by M/s. Rubberwala Housing & Infrastructure Limited and M/s. Mukhi Industries Limited on May 04 2018 through Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). Post-Acquisition the Board of Directors of the Company was re-constituted and a New Management was put in place to implement the Resolution Plan as approved by the National Company Law Tribunal Mumbai Bench Mumbai (NCLT) vide its Orderdated April 19 2018. Pursuant to the NCLT Order and the Resolution Plan Equity Share Capital of the Company was reduced by 95 % on May 16 2018. Further on May 16 2018 the Company allotted 11241513 Equity Shares of Rs. 10/- each to New Promoters of the Company as per the Resolution Plan approved by the Hon'ble National Company Law Tribunal. The Company came out with a new product namely Raj Filter Groundnut Oil in the States of Maharashtra Madhya Pradesh Orissa and Goa effective from August 1 2021.