| History |
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History Oswal Overseas Limited (OOL) was incorporated on 31st May, 1984 as a Private Limited Company in the name and style as “ANK Impex Private Limited”. The Company was converted into Public Limited Company w.e.f. 9th October, 1984. Later on Company’s name was changed under Section 21 of the Companies Act, 1956 as Oswal Overseas Limited w.e.f. 6th May, 1992. Change of Management: > By acquiring 74% shares of the Promoters Group (Sh. Ashok Oswal Group) in 1998 through “Public Announcement” (PA) under Take over Regulations, 1997 by Sh. K.S.Chaddha & Associates as “Acquirer” to which the present Promoters were Co-Promoters. The Acquirer made the PA on 10/03/1998 which was opened on 05/05/1998 and closed on 04/06/1998. The full process was completed on 02/07/1998. > Later on through Inter-se Transfer of shares among Promoters, majority of shares have been purchased by existing Promoters Group. Initially the plant was set-up with a capacity of 2500 TCD, which was enhanced, to the present capacity of 3500 TCD in different phases. During 2005, OOL had set-up a Furnace Plant with a capacity of 6.0 Tons per Electric Charges at the existing location at vill: Aurangabad, Teh : Nawabganj, Dist. – Bareilly (U.P). Surplus power generated after meeting the sugar plant requirement is being used for manufacturing the Steel Ingots. OOL is in the process of getting registration for Verified Emission Reduction (VER) under the UN Framework Convention on Climate Change. |