Kuwer Industries Share price

M/s Kuwer Industries Ltd. (KIL) was originally incorporatedon 24th Dec. 1993 as a Public Ltd. Company with Registrarof Companies at Delhi & Haryana and obtained certificate ofcommencement of business on 07.01.1994. The company hasbeen promoted by Shri R.K. Aggarwal Sh. J.B. Aggarwal andSh. Chirag Aggarwal.The Company is in process of setting up a plant tomanufacture Metalised Polyester and Biaxially OrientedPolypropelene (BOPP) films at A-71-72 Sector-58 Noidawith an installed capacity of 2400 MT. As on date it hasnot transacted any commercial operation.Implementation of the project is in progress. The companyhas purchased the land from Noida Authority. Satish Khanna& Associates Architects vide their letter dated 29.12.94has certified that civil construction works for the factorybuilding has been completed. Only finishing work is underprogress. The company has placed order for critical plantand machinery i.e. Vacuum Tec Metaliser which constitute98.15% of the total cost of plant and machinery. Letter ofCredit for the same has been opened on 16th November 1994vide letter No.IDBI/T-10/130(691)2061/Kuwer through BancaCommercials Italiana Italy. It has also placed orders forother main items of machinery and miscellaneous fixedassets. The power load of 350 KVA has been sanctioned byU.P.S.E.B.Working capital limits of the company has been sanctionedin-principle by the Alahabad Bank Industrial FinanceBranch New Delhi. The application for obtaining the NOChas been submitted to U.P.P.C.B.As the company''s proposed unit is under implementation noprofit and loss account has been made.