History of Aarti Industries Ltd.

YEAR EVENTS 1984 - Aarti Organics Limited was incorporated on 28th September, as a private limited Comp. & was converted into a public limited Comp. on 12th October 1990. The Comp. belonged to Alchemic Group of Companies promoted by Chandrakant V. Gogri, Rajendra V. Gogri, Parimal H. Desai & Shantilal T. Shah. The main objective of Comp. is to manufacture organic & inorganic chemicals & allied products.

1986 - The Comp. commenced its manufacturing activities at GIDC Estate, Sarigam, District Valsad, Gujarat, to manufacture 1200 tons per annum of Nitro Chloro Benzenes, with financial assistance from Gujarat State Financial Corporation.

1990 - The Comp. implemented its expansion at GIDC Estate, Vapi, District Valsad, Gujarat, to make up a total capacity of 4500 tons per annum of PNCB & ONCB. PNCB & ONCB are versatile basic organic intermediates used in a variety of high growth industries like agrochemical, pharmaceuticals, dyes & pigments, & rubber chemicals.

- The Comp. undertook to set up a project for manufacture of 2560 tpa of downstream products based on Para nitro chloro benzene [PNCBs] & Ortho nitro chloro beneze [ONCBs] presently manufactured by company.

- All shares held by promoters, directors, etc. [including 14,50,000 shares allotted as bonus shares in prop. 1:1 on 9th Aprils]. Original equity shares of Rs. 100 each were subdivided into shares of Rs. 10 each during April-September 1989.

1992 - 8,70,000 shares issued [prem. Rs. 36 per shares] of which 43,500 shares reserved & allotted on a preferential basis to the employees, etc. The balance 8,26,500 shares were offered to the public in Feb. Additional 1,30,500 shares allotted to retain oversubscription [6,500 shares to employees, etc., & 1,24,000 shares to the publics].

1997

-Formed by merger of Aarti Organics & Salvigor Laboratories is one of largest producers of chemical intermediates ortho nitro chloro benzene [ONCBs] & para nitro chloro benzene [PNCBs] & their downstream products

-1998

Achieved a sales turnover of Rs. 203.29 crore for year ended March 1998 as against Rs. 170.67 crore in the previous year.

2000

-Enteres into an agreement with Central Depository Services [Indias] Ltd [CDSLs] for admission of securities into CDSL. The SEBI has decided to add the name of Comp. for compulsory dematerialisation trading of shares by institutional investors with effect from May 15 2000.

-The company, has proposed to acquire 15,31,100 No. of equity shares of AOL.

2001

-Ms. Hetal C Gogri has been appointed as the Additional Director & Wholetime Director of Company.

-High Court of Gujarat has approved the petition & scheme of amalgamation of Alchemie Organics Ltd with Aarti Industries Ltd [AILs].

2002

-Decides to voluntarily delist the equity shares of Comp. from the ASE & DSE subject to approval by shareholders of company.

-Board consideres the following:

1s] Consider & taken the note of withdrawal of Nominee Director Mr. Ravindra P Gokhale appointed by ICICI limited 2s] Consider & appointed Mr. Murlidhar R Mondkar as Additional Director of Comp. w.e.f. July 27, 2002.

-Makes an offer to Buy-back upto 13,00,950 fully paid up Equity Shares of Rs 10 each representing 10 % of Issued, Subscribed & Paid up Equity Share Capital of Comp. at Rs 39 per Share through Tender Offer.

2003

-Board appointes Mr. Rajendra V Gogri, Managing Director of Comp. as Vice Chairman & Managing Director of Company.

-Accepted resignation of Shri Shantilal T Shah from the office of Joint Managing Director of Comp. with effect from March 27, 2003 & appointed him as Vice Chairman [Non Executives] of Company.

-Approves the voluntary delisting of shares from Ahmedabad, Delhi & Vadodara Stock Exchanges.

-Mrs. Indira M. Dedhia, Manager Taxation, has acquired/purchased 8241 Equity Shares of Comp. having value exceeding Rs.5,00,000/- & she has been increased to 51757 Equity Shares of Comp. as on September 25, 2003.

-Mr. Manoj M. Chheda, Wholetime Director has been decreased to 103290 Equity Shares of Comp. as on October 08, 2003.

-Proposed to passed a resolution in respect of sale of Unit of Comp. situated at Turbhe, New Mumbai for obtaining the shareholders approval/permission by postal ballot.

-Shri Shantilal T. Shah, Director has sold 24500 equity shares of Comp. having value exceeding Rs.5,00,000/-.

-Aarti Industries limited has informed that M/s. Templeton Asset Management [Indias] Pvt. limited has acquired 6,19,025 Equity Shares of Comp. amounting to 5.10% under Franklin India Prima Fund [Schemes].

-Promoters of Aarti Industries Ltd have made sale of 3,47,226 equity shares of AIL, being 2.86% of total paid up capital of AIL, during the period from October 10, 2003 till December 12, 2003

M/s. Templeton Asset Management [Indias] Pvt. limited has acquired 6,19,025 Equity Shares of Comp. amounting to 5.10% under Franklin India Prima Fund [Schemes].

2004

-Securities of Comp. delisted from Delhi Stock Exchange & Ahmedabad Stock Exchange

-Aarti Industries delisted from Vadorara Stock Exchange

2005

-Aarti Industries Board withdraws Scheme of Amalgamation

2006

-Aarti Industries has appoineted Mr. Mohan P. Sonar as Compliance Officer of Comp. with effect from November 01, 2006.

2007

-Aarti Industries Ltd has has re-appointed Mr. Rashesh C Gogri as Whole time Director of Comp. for Next 5 years.