CAPLIN POINT LAB Share price

The Company was incorporated on 16th April 1990 under the Act as a Private Limited Company under the name of CAPLIN POINT LABORATORIES PRIVATE LIMITED. The name of the Company was changed to CAPLIN POINT LABORATORIES LIMITED effective 23rd April 1993. The Company has adopted a new set of Articles on 12th March 1993 as applicable to public limited companies.The Company was incorporated as an extension of a pharmaceutical manufacturing unit started by M/s Triwin Pharmaceuticals the first pharmaceutical venture started by Mr. P C Partheeban (presently the Managing Director) Mr. T Palanisamy and Mr. S Karunakaran in the year 1987 as a partnership firm. In the year 1990 the Company was incorporated by the partners of the aforesaid firm alongwith Mr. B A Ahmed. Soon thereafter Mr. S Jayaraman joined the Board to take charge of production. Recently the Board has been recast with all Directors except Mr.P.C.Partheeban making room for broadbasing the Board. The resigning Directors have taken positions as Senior level Managers in the Company.M/s Triwin Pharmaceuticals was engaged in the business of manufacture of Tablets Liquid orals and Capsules (Non-Antibiotic) and Import Sales of family planning andcertain life saving drugs. The said firm also started theExport of manufactured formulations in the year 1992-93.Even after the incorporation of the Company the firm continued its manufacturing sales and export of Tablets Liquid orals and Capsules (Non-Antibiotic) and business of import sales while the Company started the manufacture of Ointments Oral Powders and Capsules (Antibiotic).The said firm has since been taken over by the Company with effect from 1st September 1993 with the objective of consolidation of the business of the Company into a single larger entity for setting up the Project envisaged. All the assets and liabilities of the firm were taken over at book values as at 31st August 1993. The Company''s turnover in future shall comprise of the sales generated from the manufacturing faculties of the erstwhile firm also. Salient terms of the takeover Agreement executed by the Company with M/s. Triwin Pharmacuticals (''Triwin'') are as follows.a. Transfer and vesting of assets and liabilities of Triwin in the Company All the assets and liabilities of Triwin including itsfactory located at No. 44 Kamakoti Nagar AnnexeValasaravakkam Madras 600 087 on going business basis aretransferred at book values as on 31st August 1993.b. Net consideration for the transfer of assets and liabilities Consideration payable by the Company shall be the net worthof Triwin (excluding good will) estimated at Rs.3162000on the basis of its audited accounts as at 31st August1993.c. Continuance of Business In the post-transfer stage the Company to continue to dothe business then carried on by Triwin (including themanufacturing operation) and Triwin shall suspend all theproduction/sales activities hitherto carried on by them.d. Discharge of Purchase consideration The Company to issue at par its Shares credited as fullypaid-up to the partners of Triwin for an aggregate nominalvalue of Rs. 3162000 (Rupees Thirty One lacs Sixty TwoThousand only) in the proportion of amounts lying to thecredit of the respective capital/current accounts as on 31st August 1993.