RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits

BRIEF HISTORY AND OTHER CORPORATE MATTERS OF THE COMPANY:
Incorporation and Initial Progress:
The Company was incorporated on February 16, 1993 under the name Globus Agronics Limited
with the Registrar of Companies, Delhi & Haryana, as a limited liability company. The Company
obtained its Certificate for Commencement of Business on March 19, 1993. Subsequently, the
name of the Company was changed to Globus Spirits Limited on January 23, 2007 by way of a
fresh Certificate of Incorporation from the Registrar of Companies, Delhi & Haryana. The
Registered Office of the Company is at C-631, New Friends Colony, New Delhi – 110065.
Major events in the history of the Company is as follows:
YEAR MAJOR EVENTS & MILESTONES
1994-95 • First Distillery set up; commenced production of Ethyl Alcohol in April 1994
at Samalkha Unit, Haryana. Unit was set up with an installed capacity of 144
lakh BL per annum.
• Purchase of land at Village Shyampur, Tehsil Behror, District Alwar,
Rajasthan for setting up a Distillery unit for manufacturing 40,000 Bulk Litres
of Rectified Spirit and 20,000 Bulk Litres of Extra Neutral Alcohol per day.
• The company acquired 18 acres of land in village Shyampur in Behror,
Rajasthan.
1995-96 • Sets up second Distillery unit at Behror, Rajasthan; Unit commissioned.
• Authorised Share Capital increased from Rs. 5 crores to Rs. 10 crores.
• Bonus issue to existing shareholders in the ratio of 12 equity shares for
every 10 equity shares held.
• Enters into agreement with International Distilleries (India) Ltd. – a
subsidiary of International Distillers and Ventures, UK, to bottle IMFL
products under the brand name of ‘IDI’.
1996-97 • During the year Behror Unit also started production. The sale was Rs.
5092.12 lakhs with a profit after tax of Rs. 278.42 lakhs. The Company has
also exported alcohol to the tune of Rs. 4221.54 lakhs during the year.
1998-99 • Takes up work at Samalkha unit for conversion of molasses supplied by
Panipat Co-operative Sugar Mills.
• The company has started production of IMFL at its Behror unit under the
brand name of Rajputana.
1999-2000 • Commenced bottling of IMFL at Behror Unit in August, 1999; and Country
Liquor at Samalkha Unit in December, 1999.
2000-01 • Haryana State Pollution Control Board on 29.8.2000 orders closure of
distillery unit at Samalkha for alleged non-compliance of pollution
requirements.
2001-02 • Haryana Pollution Control Board orders start of Bottling of Country Liquor at
Samlakha unit on 17.8.2001.
• Bottling at Samlakha Unit starts w.e.f 23.3.2002 after clearance by Hon’ble
High Court of Punjab & Haryana on issues raised by State Excise
Department.
2003-04 • Enters into agreement on 26.7.2002 with Hi-Life Impex Pvt Ltd (Hi-Life) for
use of Trademarks in respect of Ready to Drink Beverages (RTDB) and
manufactures the same under technical know-how from Hi-Life.
• Commercial production of RTDB starts from 27.9.2003.
2004-05 • Sets up Effluent Treatment and Environment friendly Bio-Composite Plant
and entire plant and machinery repaired in order to start the Distillation
plant at Samalkha Unit.
2005-06 • Distillation Plant commences operation at Samalkha Unit in April, 2005.
2006-07 • Authorised Share Capital increased from Rs. 10 crores to Rs. 15 crores.
• Name of the Company changed from Globus Agronics Limited to Globus
Spirits Limited with effect from 23.1.2007.
2007 - 08 • Authorised Share Capital increased from Rs. 15 crores to Rs. 25 crores.
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