National General Industries Share price

National General Industries commenced operations as a soleproprietorship concern promoted by Shri Ashok kumar Guptain 1967 which was converted into a partnership firm underthe style of National General Industries in 1986 with theinduction of his family members. The firm was in thebusiness of rolling constructional steels. Subsequently on21st November 1986 a new partnership deed was made withthe present promoters viz.. S/Shri Pawan Kumar Media andAshok Kumar Modi and S/Shri Harbans Lal Khullar andAmardeep Khullar as additional partners. This partnershipwas reconstituted on 25th November 1986 vide a newpartnership deed. This concern was taken over by NationalGeneral Industries Pvt. Ltd. a company which wasincorporated under the Companies Act 1956 on 8th January1987 as a Private Limited Company to take over the businessof the Joint Stock Company. Subsequently National GeneralIndustries Pvt. Ltd was converted into Public LimitedCompany vide Special resolution passed on 18.9.93 and freshCertificate of Incorporation issued by Registrar ofCompanies Delhi & Haryana vide Certificate issued on30.11.93. During 1987 and 1988 Shri Ashok kumar Gupta hisfamily members and S/Shri Harbans Lal Khullar & AmardeepKhullar transferred majority of their shareholding of Rs.7lakhs in favour of S/Shri A.K. Modi P.K. Modi and theirfamily members.When the present promoters took over the management ofNational General Industries a 450 mm Rolling Mill and a250 mm Rolling Mill were in operation. However only onemill at a time was operational. The production capacity waslimited to 9600 TPA due to small size of the Billetre-heating Furnace and availability of power from UPSEBduring the night shift only. National Genera( IndustriesLtd. installed a 300 mm Rolling Mill in September 1994replacing the earlier 250 mm Mill for widening its productrange and also modified the billet re-heating furnace. Theabove resulted in an enhancement of its production capacityto 15000 TPA based on one shift working per day.