Allcargo Logistics Share price

HISTORY AND CERTAIN OTHER CORPORATE MATTERSOur Company was promoted by Mr.Shashi Kiran Shetty and incorporatedon August 18 1993 as a private limited company under the name of All Cargo Movers (India) Private Limited. A fresh certificate of incorporation was obtained on June 25 2004 subsequent to the change of name to Allcargo Movers (India) PrivateLimited. The name of our Company was changed to Allcargo Global LogisticsPrivate Limited with effect from December 8 2005. Subsequently our Company was converted into a public limited company pursuant to which a fresh certificate of incorporation was obtained on January 17 2006.Our Company commenced its operations in 1993 as a shipping agency house and in addition provided freight forwarding services. After achieving thorough expertise and customer support it became a Multimodal Transport Operator (Registration No.MTO/DGS/163/98) from June 1998. This registration is renewable every three years and is presently valid till June 12 2007.Our Company provides various services such as inbound & outbound consolidationmulti-city consolidation FCL forwarding airfreight forwarding activities project cargo handling and transportation and CFS operations. Today our Company is one of the leading consolidators with 17 branches and 9 franchisees in India. Our Company has made strategic investments in Ecu Hold NV Belgium ACM Lines Pty. Ltd. South Africa and has a JV with Transworld Logistics and Shipping Services Inc. USA.Our Company has vide an agreement dated January 10 2006 increased its stake in Ecu Hold NV to 49.99% from 33.80%. Ecu Hold NV is a key NVOCC player havinga presence globally via 110 own offices in 56 countries and franchisee and agentsnetwork across 203 locations in 120 countries totalling to 313 locations in 176 countries. Our association with Ecu Hold NV has enabled us to have a wider presence globally.The Registered Office of our Company was originally located at 303 Green Star Rizvi Complex Opposite Shirley Rajan Road Bandra (W) Mumbai ? 400 050. Our office was shifted with effect from June 28 1999 to Wakefield House 1st Floor Sprott Road Ballard Estate Mumbai ? 400 038 and subsequently shifted to Diamond Square 5th Floor CSTRoad Kalina Santacruz (E) Mumbai ? 400 098 with effect from July 1 2003.Transportation Division:Our Company had a transport division which carried on business till October 31 2005. The said transport division had leased its various transport equipments to Transindia Freight Services Private Limited (a part of the Promoter Group company) and earned income by way of hire and transport charges. The income generated by the said transport division amounted to 2.1% of our Company?s total income for the year ended March 31 2005. Our Company has on out right sale basis transferred majority of the assets relating to the said transport division along with related liabilities to Transindia Freight Services Private Limited and Meridien Tradeplace Private Limited with effect from November 1 2005 vide an agreement dated October 31 2005.Milestones achieved by our CompanyOur Company?s growth over the last 12 years is highlighted below:Year Event1993 Incorporated as a private limited company.1994 Appointed as agents of ASIA Lines Ltd. a Mauritian Shipping Line and to work for them under the daily supervision of general agents i.e. Sea trade Shipping Services LLC Dubai UAE.1995 Formed association with Ecu Line NV Belgium to serve as their agents in Mumbai and New Delhi.1998 Obtained MTO licence from the Ministry of Shipping Government of India.2001 Made strategic investments in Ecu Line Mauritius and Ecu Line Middle East (Dubai).2002 Rewarded with ?Best Consolidator? Award by CONCOR.2002 Acquired 50% stake in ACM Lines (Pty) Ltd.2003 Entered into a JV with Transworld Logistics & Shipping Services Inc.2003 Commissioned CFS at Koproli near JNPT.2004 Obtained ISO 9001:2000 Certificate from Det Norske Veritas (DNV).2004 Commissioned the 2nd phase of our CFS at Koproli near JNPT.2004 Started Project Cargo Handling business.2005 Acquired 33.8% stake in Ecu Hold NV with representation on the Board.2005 Commisioned expansion of the 3rd phase of our CFS at Koproli near JNPT.2006 Increased the stake to 49.99% in Ecu Hold NV.2006 Converted into a public limited company.