NEELKANTH ROCKMINERALS Share price

NEELKANTH ROCKMlNERALS LIMITED was incorporated on25.05.1988 as a private limited Company in the State ofRajasthan. It was convened into a Public Limited Company on04.05.1992 by passing a Special Resolution dated 28.04.92.The Company has been promoted by Shri Champalal SalechaShri Surendra Salecha Shri Gautam Chand Kawar and ShriShantilal Kawar to set up a plant to manufacture polishedgranite slabs in two phases i.e. phase I with the capacityof 21000 sq. mtrs.p.a. and phase II with the capacity of42000 sq. mtrs.p.a. as an Export Oriented Unit. The Companyhad applied for Term loan from Rajasthan State IndustrialDevelopment & Investment Corporation Ltd. (hereinafterreferred as RIICO) Jaipur for its Phase I project and thesame was sanctioned for Rs. 117.00 lacs vide their letterdated 11.01.93.Presently Company is removing overburden from its two minesand started quarrying in Dec. 1994 at one of its Mines.Company has not yet started any commercial operations.Implementation of the project is going on at full speed andthe financial assistance from RIICO also will be disbursedby the end of March 1995. Site development is alreadycompleted civil work is in progress and orders forimported plant and machinery has been placed. Company willstart the commercial production in time and no cost overrunis anticipated.