YEAR EVENTS 1990 - The company was incorporated on 1st January, and obtained the certificate of commencement of Business on 24th January. The company was jointly promoted by Maharashtra Petrochemicals Corporation, Ltd. (MPCL) and by Shailendra C. Bagrodia, Sanjay Bagrodia and Sushil Kumar Sharaf of Sobhagya Mercantile Ltd. (SML). The main objective of the company is to manufacture Bisphenol-A (BPA) apart from dealing in all kinds of petroproducts. - The company undertook to set up a project for the manufacture of 5000 TPA of Bisphenol-A on a piece of leasehold land at MIDC's industrial estate at Lote Parshuram, a notified backward area in the Ratnagiri district of Maharashtra. The product is a raw material for the production of a wide variety of resins and plastics. - The company entered into an agreement with Polibur Engineering Ltd. (PEL) of UK for supply of technical know-how of basic engineering package based on ICSO technology. It also provides for performance guarantee with regard to plant capacity, raw material and utility consumption and quality of goods. In addition, the agreement also provides for buy-back arrangement of 2000 tonnes, 1500 tonnes and 1000 tonnes. As consideration for the services rendered, the collaborators would be paid a technical know-how fee of US $ 1.5 million. - M/s. Dany Powergas India Pvt. Ltd., were appointed as consulting engineers for the project. - 70 shares subscribed for by the signatories to the Memorandum of Association. 103,59,930 shares then issued at par of which the following shares were reserved and allotted: - (i) 26,80,000 shares to MPCL; - (ii) 19,19,930 shares to Indian resident directors, etc. and - (iii) 10,00,000 shares to SBI Mutual Fund. - Out of the remaining 47,60,000 shares 5,18,000, shares to employees, etc. of the Company and those of promoter companies were reserved for preferential allotment but only 1,41,900 shares taken up. Another 5,00,000 shares subscribed by SBI Mutual Fund and 2,50,000 shares by Infrastructural Leasing & Financial Services, Ltd. - The balance 34,92,000 shares, along with 3,76,100 shares not taken up by employees, etc. were offered to the public in Jan. 1991. Additional 15,54,000 shares allotted to retain oversubscription (8,40,000 shares to promoters, directors, etc. and 7,14,000 shares to the public). 1992 - During February-March, the Company offered 23,82,800 Rights equity shares of Rs. 10 each at par in proportion 1:5 (all were taken up). Additional 3,57,420 shares were allotted to retain oversubscription. - Simultaneously another 1,19,140 shares were issued to the employees' on an equitable basis (all were taken up). - 25,01,940 No. of equity shares allotted on Rights basis. 2002-Kesar Petroproducts Ltd has informed that Mr S K Gupta has ceased to be Director of the Company with effect from November 29, 2002. 2007 - E-mail ID for Investor Complaints :kesar petro@vsnl.com. 2015 -Kesar Petroproducts has splits its face value from Rs. 10 to Rs. 1