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Shivani Vanaspati Ltd.

BSE: 531722 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Shivani Vanaspati Ltd
NSE 05:30 | 01 Jan Shivani Vanaspati Ltd

Shivani Vanaspati Ltd. (SHIVANIVANAS) - Company History

Shivani Vanaspati (SVL) promoted by the Jhawar family from Orissa was incorporated on Nov 4 1992 as a public limited company. It has set up a 62.5 tonns per day vanaspati manufacturing plant at Kapursingh near Cuttak Orissa. The project was part financed by a public issue in Feb. 1996.In Sep.'93 the company acquired Kalinga Oil & Refineries Cuttack an oil mill comprising three oil expellers to meet about 65% of its raw material requirements. Since the commercial production commenced only in 1996 the oil expellers were given on rent to Kalinga Oil & Refineries. The company has successfully launched its commercial production in the month of July 1997.During the year 1999-2000 due to suspension of production for 4 months and moreover the Super Cyclone which occured causing wide-spread loses to properties hence the company has claimed Rs.1.46 crore with the Insurance Company. The company is been declared as a sick company by the BIFR and are taking neccessary steps for its revival.