UPL Share price

The Company was incorporated on 2nd January 1985 as Vishwanath Commercials Limited. In February 1985 the Company went public with an issue of 150000 Equity Shares of Rs. 10/- each for cash at par aggregating Rs. 1500000. The object of the issue was to meet the working capital requirements preliminary expenses and issue expenses. Subsequently in February 1994 Shri R.D. Shroff alongwith his family and investment companies acquired 78.61% of the equity capital of the company and changed the name to Search Chem Industries Ltd. In March 1995 the group reorganised the shareholding as a result United Phosphorus Limited acquired 75% of the Equity Capital of Search Chem Industries Limited from the family and investment companies of Shri R. D. Shroff. Subsequently in August 1995 UPL acquired further 11560 shares thereby resulting in total holding of 79.72%. UPL purchased 8500 Equity Shares from Shri R.D.Shroff and 186810 Equity Shares from Shri R.D.Shroff''s family members and investment Companies. With this reorganisation UPL has become the promoter of Search Chem Industries Limited. Shri R.D. Shroff is the promoter of United Phosphorus Limited and alongwith his family and investment companies holds 35.39% of the Equity Capital of United Phosphorus Limited. The Company was engaged in the business of trading in shares/debentures since incorporation until it was taken over by Shri R.D.Shroff. Subsequent to the takeover the Company has entered in to the chemical business.The High Court of Gujarat at Ahmedabad had served a notice on 23/03/95 to 169 units including the Company for operating without the consent of the Gujarat Pollution Control Board (GPCB). The Company''s advocates Messrs Nanavati and Nanavati who were representing 158 units out of the above mentioned 169 units could list out their representation of only the names of 110 units to the High Court within the limited time allotted to them.Unfortunately since the Company''s name did not figure in the 110 units listed out by the Company''s advocate the High Court treated the Company''s case as unrepresented and hence contempt of court for which the High Court ordered the closure of the Company''s unit with effect from 18.04.95. Subsequent to the Company''s filing affidavits the Court ordered the reopening of the Company''s unit vide their order dated 01/05/1995 subject to the following remedial measures which have been adopted by the Company:1) Filing of undertaking before the Court as per their requirement.2) Setting up Secondary Treatment Plant.3) Installation of electricity meters to determine the quantum of electricity consumed by the Controlling Devices and plants.4) Follow up with GPCB Gandhinagar for issue of consents under the water air and Hazardous Waste Rules.Thus the Company''s unit was closed from 18.4.95 to 01.05.95. for a period of 14 days.MAIN OBJECTS OF THE COMPANY The main objects of the Company to be pursue by the Company as contained in the Memorandum of Association is as under:1. To carry on the business of dealers importers exporters commission agents or otherwise of cotton jute cotton goods jute goods textiles yarn synthetic goods fibrous materials mill stores coal chemicals paper engineering goods and cast iron items and agricultural implements and other machinery.In the Extraordinary General Meeting of the shareholders of the Company held on April 10 1993 pursuant to Section 149(2A) of the Company''s Act 1956 consent has been given for commencement to the Company for commencement of all or any of the business specified in items nos. (b) and (c) of sub-clause 25 of Clause 3 of the Memorandum of Association of the Company namely:To carry on the business of manufacturers fabricators processors producers growers makers importers exporters buyers sellers suppliers stockists agents merchants distributors and concessionaires of and dealers in commodities of all or any of the following kinds:b) Ammonium sulphate nitrate (double-salt) Ammonium nitrate Calcium ammonium nitrate (nitroline stone) Ammonium chloride super phosphate urea and other types of fertilisers of synthetic or natural origin containing nitrogen phosphorus or other compounds soda ash pesticides DDT seeds Processed seeds concentrate for cattle or poultry feed.c) Drugs medicines chemicals mixtures powder tablets capsules injections oils compounds cements paints creams scents soaps lotions toiletries goods pigments and all kinds of pharmaceutical cosmetics and medicinal preparations required or used for beauty aid or personal hygiene or in allopathic ayurvedic unani or nature cure methods or systems of treatments bandages cotton gauzes crutches stretches and all kinds of anatomical orthopedic and surgical appliances and stores.The above clauses/sub-clauses enables the Company to undertake the activities for which the funds are being raised for the present issue and also the activities which the Company has been carrying on till date.PRESENT BUSINESS OF THE COMPANY The Company has facilities to manufacture the following:1. Iso Propyl Bromide Thi Diphenol and Other Specialty Chemicals 600 TPA 2. Phosphorus Pentoxide 500 TPA 3. Phosphorus Penta Chloride 350 TPANOTE There have been no material changes in accounting policy affecting the reserves and profit/loss of the Company in the last three years.SUBSIDIARIES OF THE COMPANY The Company has no subsidiary at present.