YEAR EVENTS 1963 - The Company, a Chowgule Group Company, was incorporated as a Private Ltd. Co. on 9th April, 1963 and was converted into a Public Ltd. Co. on 31st December, 1963. The Company has been in the business of Shipping air transport and road transport and transport and allied activities. 1981 - Authorised capital reclassified. Pref. shares redeemed on 30.6.1981. - 23,35,000 shares issued for cash at par through Prospectus in November. Of these 10,85,000 shares reserved for preferential allotment to existing shareholders other than Chowgules and their associates. 1984 - 20,550 shares forfeited. Subsequently forfeiture on 250 shares annulled. 1988 - The company proposed to sell m.v. "Maratha Elegance" due to its uneconomic operations. 1989 - The Company took delivery of two mini bulk carriers viz., m.v. "Maratha Clipper" of 1,884 DWT and m.v. "Maratha Cruiser" of 1,878 DWT from a Singapore shipyard. These ships were employed on the West Coast of India for transportation of cement clinkers. 1991 - The Company took delivery of m.v. "Maratha Concord" of 3,897 DWT built in 1975 on a foreign buyer. In addition, applications were made for the approval of two new Panaman Vessels (dry bulk carriers), each of 72,000 DWT. - 10,00,000 shares issued at par on rights basis to the shareholders in prop. 1:1. Additional 1,50,000 shares allotted to retain oversubscription. 11,50,000 shares allotted to NRI in Pvt. placement. 50,000 shares offered to employees (only 10,700 shares taken up). The remaining unsubscribed shares were allowed to lapse. 1992 - The Company received one of the two mini bulk carriers ordered on Chowgule & Co., Ltd. viz. Maratha Classic of 2048 DWT. Also, the Company received approval in principle from Government of India for acquisition of two new building Panamax vessels each of about 72,000 DWT and acquisition of one such vessel from a Japanese Shipyard is under negotiations. - Chowgule Steamships Overseas Ltd. (SCOL) was incorporated in Guernsey with a paid-up capital of US. $100 divided into 100 equity shares of US $1 each. It is wholly owned subsidiary of the Company. 1993 - As a part of its expansion programme, the company proposed to buy one new Handimax Dry Bulk Carrier of about 40,000 DWT each during the next 3 to 5 years. - On March, SCICI executed its option to convert a part of its rupee term loans into equity and accordingly 6,08,400 No. of equity shares of Rs 10 each were issued at a premium of Rs 12.50 per share to SCICI on April 1st. 1994 - The Company took delivery of M.V. Maratha Messenger, Panamax Bulk Carrier of 71252 DWT built in Nanura Shipyard Japan and of M.V. Maratha Courage, mini bulk carrier of 2053 DWT built by Chowgule & Co. Ltd., at the Lovtlim Shipyard, Goa. - It was proposed to acquire two mini bulk carriers. - Subject to necessary approvals being obtained, the Company proposed to raise Rs 25 crores by issue of Redeemable Preference shares of Rs 100 each for cash at par on private placement basis. - 96,89,325 Rights equity shares issued (Prop. 3:4; Prem. Rs 30). 1995 - 1,29,19,100 No. of Equity Shares of Rs. 10/- each at the rate of Rs. 2.50 per share and on 96,89,325 Equity Shares of Rs. 10/- each allotted during the year under report at the prorata rate of dividend of Rs. 0.678 per share absorbing an amount of Rs. 389 lacs for the financial year ended 31st March. - The Company proposes to acquire two Mini Bulk Carriers. 1996 - 2,26,08,425 No. of Equity Shares of Rs. 10/- each at the rate of Rs.2.50 per share absorbing an amount of Rs. 565.22 lacs for the financial year ended 31st March. - An Agreement has been entered into between the Company and SCICI Ltd., being the designated person of the Central Government, under which the total outstanding debt of Rs.4,225.44 lacs due to the Government as on 28th November, 1995 has been rescheduled. - The Company proposes to place orders for two Mini Bulk Carriers of 3250 DWT each with Chowgule & Company Ltd., Goa. - Chowgule Steamships Overseas Ltd., (CSOL) a wholly owned subsidiary of the Company, proposes to acquire M.V. Maratha Providence from the Company subject to requisite sanctions. 1997 - Chowgule Steamships has inducted two new Panamax Bulk carriers and one mini-bulk carrier in 1996-97. - The company has signed a lease agreement with the State Bank of India on 18 August for two new bulk carriers of 3250 dwt to be constructed at one of the Indian shipyards. - The company has also added a new mini bulk carrier from Borneo Shipping & Timber Agencies Sdn. Bhd, Malaysia last month adding one more vessel to the company's existing coastal vessel fleet of five adding to the total tonnage of 14,430 dwt. 1998 - In the current financial year, CSL has expanded its fleet with the addition of one newly built Panamox bulk carrier of 72,000 dwt (dead weight tonnage, which is the weight of all consumables and cargo that a ship can carry) and one newly built mini bulk carrier of 3,250 dwt. - The company proposes to dispose of at least two vessels in the current fiscal. 1999 - The company has decided to allot 1,37,00,000 equity shares of Rs. 10 each to Chowgule and Co. Ltd (CCL). Currently CLL holds 31,17,554 equity shares of Rs. 10 each of the company which forms 13.79 per cent of the total paid-up share capital of the company. Consequent upon the proposed allotment, CCL will hold 1,68,17,554 equity shares of Rs. 10 each of the company which will form 46.32 per cent of the expanded capital of the company. The committee of directors of the company has issued and allotted 1,37,00,000 equity shares to Chowgule and Co. Ltd at the issue price of Rs. 10 per share. Consequent upon the said allotment, the issued and paid-up capital of the company is increased from Rs. 22,60,84,250 divide into 2,26,08,425 equity shares of Rs. 10 each to Rs. 36,30,84,250 divide into 3,63,08,425 equity shares of Rs. 10 each. 2006 -Mr. M P Patwardhan (Executive Director) has been elevated to the rank of the Managing Director of the company. 2007 -Chowgule Steamships has acquired a Japanese built secondhand vessel of 47,574 DWT, which is renamed as m.v. Maratha Providence. 2008 -Chowgule Steamships has recommended a dividend of Rs 1.50 per equity share of Rs 10/- each. 2009 -The Company has recommended a dividend of Rs 1.50 (15%) per equity share of Rs 10/- each. 2010 -The Company has recommended a dividend of Rs 1.50 (15%) per equity share of Rs 10/- each. 2011 -Chowgule Steamships has declare a Dividend of 10%. 2012 -ClowgleSteam - Expansion of Fleet by WOS- Investment in Subsidiary.