Orosil Smiths India Share price

The company was incorporated on 1st June 1994 under theCompanies Act 1956 for the purpose of setting up fullyautomated and integrated manufacturing facilities forprocessing raw silver and gold into value added jewelleryitems. The certificate for commencement of business wasobtained by the company on 23rd June 1994. Initially thecost of project as per the appraisal letter of UPFC dated01.04.95 was Rs.535.50 lacs which was to be financed asunder: Rs.in lacsTerm Loan - UPFC : 240.00 PICUP : 76.00Share Capital - Promoters : 219.50 -------- TOTAL - 535.50 --------Subsequently even before implementing the project thecompany keeping in view the great potential for brandedjewellery in India & abroad and to have an edge over itscompetitors decided to add certain machines for increasingthe product range as well as improving the quality ofjewellery. As such the company approached UPFC forreappraisal of the project. The cost of the project afterreappraisal has been estimated at Rs.820 lacs by UPFC videtheir letter 11.08.95. The company has already acquired theland required for setting up the project in NoidaIndustrial area. Registration under the Central sales taxand local sales tax has been obtained.The company has received Responsibility Mark/ Hallmark(No.8952) from the Swiss Customs Directorate CentralOffice for Precious Metals Control Switzerland. This wasinitially received in the name of M/s Silver Estate. Thesame has been got changed in favour of M/s Silver SmithIndia Ltd. on the cessation of M/s Silver Estate.