GSL Nova Petrochemic History
BSE:530605 | IND:Textiles - Manmade Fibre - PFY/PSF | ISIN code:INE787A01022 | SECT:Textiles
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The Company History page lists out the major events in chronological order for GSL Nova Petrochemicals Ltd.
| Company History - GSL Nova Petrochemicals Ltd. | ||
| YEAR EVENTS 1993 - Nova Petrochemicals Limited (NPL) was incorporated as a Public Limited Company on the 23rd December, in the State of Gujarat and has been issued the Certificate of Commencement of Business by the Registrar of Companies, Gujarat, Dadara & Nagar Haveli on 5th January, 1994. - The Company has been jointly promoted by two companies of the "Gupta" Group and two companies of the "Chiripal" Group. Both the groups are engaged in the textiles business for the last two decades. - The Company proposes to set-up a Unit to manufacture Partially Oriented Polyester Filament Yarn at Village-Moraiya, Taluka-Sanand, Dist. Ahmedabad. 1998 - The Ahmedabad-based Nova Petrochemicals Limited, manufacturing partially oriented polyester filament yarn, plans to nearly double its production capacity from 21,891 tonnes per annum to 42,238 tones at a cost of Rs. 54.50 crores. - The Company has already arranged financial tie-up for its expansion project with Industrial Development Bank of India for Rs. 15 crores, and with State Bank of India and Bank of Baroda for Rs. 7.50 crores each. The remaining Rs. 24.50 crores would be found from cash accruals and promoters contributions. 1999 - Nova Petrochemicals Ltd (NPL) has proposed to raise the installed capacity of its POY Draw Twisting & Texturising plant at its Sanand facility near here from 25,521 tpa to 41,471 tpa by March. 2000 - Nova Petrochemicals Ltd, the Ahmedabad-based polyester yarn manufacturing company, has tied-up with MS Technologies Inc, US, to diversify into software development. - The Company has entered into an agreement with MS Technologies Inc. of US for developing software on a job work basis. 2002-Nova Petrochemicals Ltd has informed that Board of Directors of the Company have resolved to cease the appointment of Mr Jyotiprasad Chiripal as permanent Chairman of the Board and the Company in view of Corporate Governance guidelines, however he will continue to be Whole-time Director of the Company. 2004 -Delist from Madras Stock Exchange Ltd (MSE) with effect from December 02, 2004. 2006 -GSL Nova Petrochemicals has given the Bonus in the Ratio of 1:1 2007 -Nova Petrochemicals Limited has informed that "There is a change in Company Secretary and Compliance Officer, Mr. Kalpesh Desai, Company Secretary is appointed as the new Compliance Officer of the Company w.e.f. August 25, 2007 in place of Shri Kalpesh Oza. 2009 -Company has changed its name from Nova Petrochemicals Ltd. to GSL Nova Petrochemicals Ltd. 2010 - GSL Nova Petrochemicals Ltd has appointed Shri. Anil Shvamsunder Singhal as an 'Additional Director' on the Board of the Company in a Board Meeting held on April 30, 2010. | ||
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