SGN TELECOMS Share price

SGN Cable Industries Limited (SGN) is an existing profitmaking company incorporated on 16.4.1986 with Registrar ofCompanies (ROC) Punjab. H.P. and Chandigarh at Jalandharvide registration No.6087 of 1986 as a private limitedcompany under the name and style of SGN Cable IndustriesPrivate Ltd. The company was converted into a publiclimited company by deleting the word private wef. 2.1.1993vide ROC orders dated 1.2.1993.The company has availed a term loan of Rs. 37.70 lacs fromPunjab Financial Corporation (PFC) Chandigarh for thefinancing of unit which was to be repaid in 15 instalments.At the request of the company PFC has rescheduled the termloan which will be repaid in monthly instalments and thelast instalment is due on 15.03.1998.In May 1987 the company started manufacturing of ACSPconductors with an installed capacity of 1000 Kms p.a. invarious diameters. The Company setup the manufacturingfacilities with the financial assistance from PunjabFinancial Corporation Chandigarh. On 1st August 1993the company became Partner in SGN Industries a partnershipfirm which is engaged in the manufacture of PVC power andcontrol cables with an installed capacity of 1500 KMs perannum. On 25th March 1994 the other partners i.e. Mr.Devinder Singh and Mr. Surinder Singh have resigned fromthe firm and the partnership firm was taken over by thecompany. The Company becomes the proprietor of the firm onthe retirement of the other two partners. The Company hastaken over the firm as a running and on going concern andthe company has alloted 971800 Equity Shares of Rs. 10/-each as consideration of the capital account standing inthe name of the outgoing partners.