Starlite Components Share price

STARLITE COMPONENTS LIMITED is a Company incorporated inthe State of Maharashtra on 13th November 1991. Companyreceived certificate for commencement of business on 18th March 1992. The Company proposes to manufacture150.00 million pieces of GLS/FTL Filaments 12.00 millionpieces of Speciality Filaments and 90.00 million pieces ofGLS/FTL Caps bases. Company has takenover current Assets and running businessfrom M/s Filaments and Filaments w.e.f. 01-04-92 videMemorandum of Understanding dated 24-09-92 entered intowith M/s Filaments and Filaments. Company has also viderental agreement dated 25-05-93 entered with M/s StarliteLamp Components Private Limited has taken on rent land andbuilding and plant and machineries and has agreed totakeover all these assets by amalgamating the Starlite LampComponents Private Limited with the Company in due courseof time. On completion of amalgamation formalities withthe respective high courts takeover process shall becompleted. Cost of acquisition has been considered in thetotal cost of the project.The unit taken over by the Company had not faced any labourproblems/litigation/defaults etc. There was no closure ofbusiness due to any labour problem etc. in the unit takenover by the Company.