YEAR EVENTS 1960 - The Company was incorporated on 26th July, at Mumbai. The company's objects is to manufacture of pulp and different varieties of writing and printing papers. The company manufactures superior qualities of rag content writing and printing papers such as creamwove paper, colour printing paper, offset printing paper, bond paper, manifold paper, ledger paper, document paper etc. - 12,750 shares issued to directors, etc. 12,250 shares offered at par to the public. 1967 - 5,000 bonus shares issued in the prop. 1:5. 1974 - 30,00,000 Bonus equity shares issued in prop. 1:1. 1979 - 36,000 Bonus equity shares issued in prop. 3:5. 1989 - The closure of the writing/printing machine for 65 days due to an accident and closure of board machine for a period of 18 days for implementation of the first phase of modernisation, the overall production could have been still higher. - Industrial licence for the company's non-ferrous metals and alloys project was received. Land was acquired and civil construction work was started. Orders were also placed for plant and machinery. The company was also in the process of finalising the second phase of the secondary treatment plant for effluent. - Equity shares subdivided. 6,40,000 bonus equity shares then issued in prop. 2:3. 1991 - The overall working was affected due to the devaluation of Rupee which made the imported pulp and waste paper costlier and escalation in various input costs. - Implementation of the second phase of secondary treatment plant for effluent and the renovation of the electrical switch yard were completed and commissioned. - The Company issued 2,00,000 - 14% non-convertible debentures of the aggregate face value of Rs.200 lakhs on private placement basis to UTI. These debentures were to be redeemed in three equal instalments from January 1998. 1992 - The company issued 2,00,000 - 14% secured redeemable non-convertible debentures of Rs.100 each on private placement with UTI. These are to be redeemed in three equal instalments commencing from January 1998 and ending in January 2001. - 8,00,000 Right equity shares allotted in Jan. 1993 (prem. Rs.45 per share; prop. 1:2). Another 40,000 shares offered to employees, etc. (prem. Rs.45 per share) but only 38,100 shares taken up. The balance 1,900 shares allowed to lapse. 1993 - The improvement was due to better market conditions for paper board as well as coated paper, decline in the price of raw materials like rice straw and waste paper. - The Company undertook a programme for improvement of quality of paper and paper boards by installation of balancing and process control equipments. 1994 - The performance improved due to better market conditions and various measures taken for improving the cost efficiency of operations. - The Company proposed to double the total production capacity and to manufacture value added products. 1995 - Production was affected due to water shortage caused by delayed onset of monsoon in Gujarat and labour problem. - The overall performance was adversely affected due to the increased cost of imported pulp and water paper, escalation in the cost of raw materials, adverse market conditions leading to lower price realisation and higher inventory. - A plant was being set up to generate electricity by installing wind turbine generators for captive consumption. 1996 - The overall performance of the Company was affected due to shut down of the Board Machine for modernisation, increase in power tariff by 30% increased labour cost and increased burden on account of interest and depreciation which could not be transferred to the customers due to depressed market condition. 1997 - The Company undertook to install a new bagasse fired boiler to achieve lower cost of steam and the diesel generating set for saving in the power cost. 2007 - Rohit Pulp & Paper Mills Ltd has appointed Mr. Sundaram Ramamurthi and Mr. Nilesh Dand as additional Directors of the Company with effect from March 29, 2007. 2009 -Company name has been changed from Rohit Pulp & Paper Mills Ltd to Citadel Realty & Developers Ltd. 2010 - Rohit Pulp & Paper Mills Ltd has appointed Mr. Chetan R. Shah as an Additional Director of the Company pursuant sec 260 of the Companies Act 1956. -Registered Office of the Company has been shifted From Marathon Nextgen, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400013To"FUTUREX", N. M. Joshi Marg,Nr. Lower Parel Railway Station (W.Rly),Lower Parel, Mumbai - 400 013. 2012 -Citadel Realty & Developers appointed Mr. S. Ramamurthi as Chief Executive Officer of the Company. 2013 -Citadel Realty & Developers-Bigshare Services Private Limited has been appointed as the new Registrar and Share Transfer Agents (RTA) in place of Computronics Financial Services. 2014 -Citadel Realty & Developers appointed Mr. V. Ranganthan as an Additional Director.