Ashoka Refineries Share price

ASHOKA REFINERIES LIMITED was originally incorporated as aprivate limited company on 1st October 1991 with the Registrarof Companies Madhya Pradesh at Gwalior. It was subsequentlyconverted into a Public Limited Company with effect from 25thNovember 1994 in terms of the resolution passed in the ExtraOrdinary General meeting of the Company held on 8th November1994.PRESENT BUSINESSThe Company is presently engaged in the business of refining ofcrude edible oil by semi-continuous process with an installedcapacity of 7500 MTA at its factory site located at Plot No.34Rawabhata Industrial Area Raipur. The Company startedcommercial production in January 1993. The Company wassanctioned a Term Loan of Rs. 81 lakhs by M/s. Madhya PradeshAudhyogik Vikas Nigam Limited and working capital limits of Rs.245 lakhs by Union Bank of India Raipur for the existing unit.The Company is now taking up an expansion cum modernisationproject with a view to increase the capacity of refining crudeedible oil to 15000 MTA.MAIN OBJECTS OF THE COMPANYThe main objects of the Company as stated in the Memorandum ofAssociation are as under:1. To carry on business to import export buy sell manufactureand refine prepare and deal in oil and oil substances and to setup oil extraction and refine oil plant.2. To undertake whole sale and retail business or indenting ofall kinds of oil products.SUBSIDIARY OF THE COMPANYThe Company does not have any subsidiary.