VIRAT INDUSTRIES Share price

Virat Industries Limited (VIL) was originally incorporatedon 11th October 1990 as private limited company in the nameand style of Oral Hygiene Private Limited for manufactureof tooth brushes. However since the main object for whichthe company was incorporated could not materialise thecompany decided to embark on new line of activities formanufacture of socks and accordingly passed specialresolution on 14th October 1992 to amend the objectsclause of the company. The said special resolution wasconfirmed by the Company Law Board Western Regional Benchvide their Order No.264/17/CLB/WR/1992/942 dated 24thFebruary 1993 in Petition filed hy the Company. The samewas duly registered by the Registrar of Companies Gujaraton 14th July 1993. Subsequently the name was changed toVirat Industries Limited on 4th August 1993. The Companyis entitled to commence the new business included in the"Other Objects" of the Object Clause of the Memorandum ofAssociation of the Company at Sub-Clause No.150 for whichSpecial Resolution was passed in the Extraordinary GeneralMeeting held on 7th September 1994 as per Section 149(2A)of the Companies Act 1956 and declaration in Form 20A asrequired u/s 149(2A)(b)(ii) has been filed with theRegistrar of Companies Gujarat Ahmedabad.Virat Industries Ltd. is now setting up a 100% ExportOriented Unit (EOU) at A-1/2 GIDC Industrial EstateKabilpore Navsari 396 424 Dist.Valsad Gujarat State forthe manufacture of Cotton Knitted Dress Socks with annuallicensed capacity of 30.20 lakh pairs.The company has since prepared project report afterappointing M/s.Gherzi Eastern Limited Bombay as projectconsultants architects and civil engineers got Letter ofPermission from Government of India to set up 100% EOU formanufacture of Cotton Socks Knitted with annual licensedcapacity of 30.20 lacs pairs. Acquired Land started civilconstruction on departmental basis out of its own fund andthe interest free deposits received from the promoters andshareholders. The company then applied to the IDBI forforeign currency loan for import of plant and machinery.The Company has since received sanction from IDBI for FCterm loan. The company has started recruiting key personneland more so will be recruited in course of time. Theorders for various imported and indigenous machinery havebeen placed. The sanction for 400 KVA power has beenreceived from the Gujarat Electricity Board water fromGIDC source is available at the plant.