Steel Strips Ltd was incorporated on December 23, 1975. The company is in the business of manufacture and sale of cold rolled steel strips. The company was formed as a joint sector project by R K Garg along with the Punjab State Industrial Development Corporation. The company became a private sector concern on subsequent disinvestment of shares by PSIDC in favour of Garg. During the year 1986-87, the company set up mini steel plant with an installed capacity of 50,000 tpa of steel ingots and billets. In August 19990, they came out with FCDs to part-finance the hot-rolling mill project. During the year 2003-04, the company sold their SAB unit at Rampur, Sirmour (Himachal Pradesh), pursuant to the 'agreement to sell' entered by the company. During the year 2004-05, they revamped the Arc Furnace unit at Sirmour (HP) and limited production was undertaken. During the year 2005-06, the company sold the plant and equipment of PSS unit. During the year 2007-08, they entered into an agreement for the sale of entire land, building and housing colony situated at Sirmour (HP) to repay their debt due to Bank and other claimanants. During the year 2008-09, the company entered into an agreement for disposal of their old and obsolete plant & machinery to repay their debt.