Shri Vasuprada Plantations Ltd

Shri Vasuprada Plantations Ltd

On August 6 1874 John Elliot Esq. promoted Joonktollee Tea Co. Ltd. to manage the affairs of a small Tea Estate in Upper Assam. The company was formally incorporated in the year 1900.In 1920's the Elliot Clan handed over the management and control to the managing agency of Kettlewell Bullen & Co. Ltd. Subsequently in the year 1954 the House of Bangurs acquired the managing agency and the Company and brought them under their fold. The name of the Company was changed to JOONKTOLLEE TEA & INDUSTRIES LIMITED (JTIL). Since then the company has been under the management of the Bangurs. Over the years the Company has grown in stature and size and is a leader in producing quality teas and enjoying one of the best Assam CTC Mark in North India.When the Bangurs took control in 1955 the total area of the Joonktollee Tea Estate Assam was 1804.88 acres with 511.00 acres under plantation producing 388178 Kgs. Growing over the years Company's Estate now comprises of 1867.98 acres of land with 1202.82 acres under plantation.From a leading mark in the Premium Orthodox teas the Company changing with the times is now regarded as one of the Best Assam CTC mark and does have an unstinted track record of the business with the brand. Its Green Teas are also one of its kinds.The Company entered the new millennium with a vision to improve its performance on all fronts with the continued support of its shareholders workers staff management and above all the connoisseurs of premium teas the world over.To have a large capital base and net worth two South India based Plantation Companies viz. The Kalasa Tea Produce Company Limited and Cowcoody Estates Limited belonging to the House of Bangurs stood merged with this Company w.e.f. 1st April 2001. The area of operation of the Company was enlarged and diversified since apart from tea the transferor Companies also deal in other plantation crops viz. coffee pepper cardamom areca vanilla etc.With a view to consolidate the resources of the Company and to carry out the agro base activities more conveniently and advantageously with a larger asset base the Company entered into Scheme of Arrangement w.e.f. 1st October 2006 under which a subsidiary and six other Companies merged with the Company and certain assets were transferred to other subsidiary Companies. The Honble High Courts of judicature at Kolkata Chennai and Guwahati sanctioned the Scheme of Arrangement as per the terms consented by the shareholders and the financial results of 31st March 2008 were prepared after giving effect of the aforesaid scheme.