YEAR EVENTS 1965 - The Company was incorporated on 19th August, in U.P. The Company manufactures nylon yarn, staple fibre and all other kinds of fibrous, chemical and synthetic substances. - The Company was established as a result of Collaboration between R.B. Gujarmal Modi & Bros. Pvt. Ltd. of Modinagar, India and Rohm & Haas Co., Philadelphia, U.S.A. under the agreement, the collaborators agreed to make available to the Company technical knowhow and research facilities in respect of the manufacture of nylon. 1967 - 8,00,000 shares subscribed for by Rohm & Haas Co., U.S.A., and its associates. 4,65,000 shares taken up by R.B. Gujarmal Modi & Bros. (P) Ltd. In March 1966, 1,47,000 shares subscribed for by R. B. Gujaramal Modi & Bros. (P) Ltd., and 5,88,000 shares offered to public. 1970 - 95 Equity shares forfeited for non-payment of calis. 1974 - 15,00,000 Bonus shares issued in prop. 3:4. 1979 - Good Investment (India) Ltd., and Quick Investment (India) Ltd., were floated and they became wholly owned subsidiaries of the company. 1980 - 35,00,000 Bonus shares were allotted in October. 1982 - Indofil Chemicals Ltd. was amalgamated with effect from 1st July. The shareholders of Indofil Chemicals, Ltd. were allotted 8,38,057 No. of equity shares of Rs 10 each, 1,45,495 redeemable convertible cumulative preference shares (CCP) of Rs 100 each and 85,140 redeemable preference shares of Rs 100 each. The 85,140 preference shares allotted to the erstwhile non-resident shareholders of Indofil Chemicals, Ltd., were redeemed on 31st March, 1986. 1985 - The Chemicals Division was formed following merger of Indofil Chemicals Ltd. The Company had received approval from Govt. of India to transfer technology from Rohm and Haas Company of U.S.A. which would help in upgradation of the technical facilities. - "GOAL", a sophisticated broad spectrum herbicide from Rohm and Haas Company was provisionally registered in India. - 1,45,495 convertible cumulative preference shares (CCPs), allotted to the shareholders of the erstwhile Indofil Chemicals, Ltd. would carry a limited right of conversion into equity shares on the basis of 13 such shares being convertible into 100 No. of equity shares in case of further issue of equity shares at any time prior to redemption of the CCPs for any reason whatsoever. - The CCPs would be redeemed upon expiry of 7 years from the date of allotment, i.e., on 31st March, 1993. The company also would have the option to redeem the CCPs at any time giving 3 months notice in advance. 1987 - Provisional registration for "GOAL" was received. An agreement was signed with Eli Lilly & Co., U.S.A., for formulation and marketing of BEAM, a speciality rice blast disease fungicide. - Another speciality fungicide to keep the apple fruits away from apple scab disease "SYSTHANE" was also developed. - In the Industrial chemicals field, the Company was developing polyurethane based coats and top coats for leather, energy saving and fire retardent binders for non-woven industry, speciality acrylic lacquers for paint application and viscosity index to improve lubricating oils. - A Memorandum of Understanding was reached with Reilly Whiteman, U.S.A., for making available to the Indian tanners, the latest generation of fat liquors. - Efforts were being made for registration of BEAM, a speciality fungicide for controlling of blast disease in rice and SYSTHANE for controlling of apple scab disease. - In the industrial chemicals area, the Company introduced additional products during the year for leather and coating industries. - The installed capacity of nylon filament yarn was expanded to 6000 TPA. 1988 - An additional fuel efficient boiler was installed to minimise production losses during maintenance of the existing boiler. The Company also installed one imported sophisticated packaging equipment to improve the packing and shelf life of Dithkane M-45. - The Company issued 14% Secured Redeemable non-convertible debentures of the face value of Rs 100 each aggregating to Rs 600 lakhs. These debentures are redeemable at a premium of 5% of the face value in September 1995 on the expiry of 7th year from the date of allotment. The Company proposes to issue a new series of 14% non-convertible debentures of Rs 17.50 crores. 1989 - The capacity of polyester chips was doubled with the successful commissioning of the second polycondensation plant with an investment of over Rs 750 lakhs. - A fluidised-bed boiler of higher efficiency was commissioned. In the chemicals division, registrations were obtained under the Insecticides Act for most of the products included in the Broad Branding Licence. - GOAL herbicides were successfully launched in various states. Registrations were obtained for BEAM and SYSTHANE. - The Company also entered into a technical collaboration with Messrs. NOY Engineering, Italy for the latest technology in Nylon and Polyester Filament Yarns. - The Company obtained endorsement under broad banding scheme on its industrial licences which provides full flexibility to produce either Nylon filament yarn and/or polyester filament yarn within the overall capacity utilisation depending upon the market requirements. - The Company plans to diversify into the manufacture of Caprolactum, a raw material for nylon yarn, in association with UBE Industries Ltd. Japan, for which purpose Government approval is being sought. 1991 - Profits were adversely affected on account of unfavourable factors, such as, high excise duty on synthetic filament yarn, over capacity in industry resulting in unremunerative prices of finished goods. - The Company introduced `BEAM' for control of "Blast" disease in rice and an insecticide formulation `FLASH' in the agricultural chemicals range. - The Company commissioned the new spinning lines of polyester and nylon filament yarns. Further expansion of direct melt spinning yarn by 20,000 tonnes per annum was being envisaged. - The Government of India had further reviewed the minimum economic size for the industry and had revised the capacities to 15,000 TPA for Nylon and 25,000 TPA for Polyester. - The Company had extended the date for conversion/redemption upto 31st March, 1996. 1994 - The company was in the process of debottlenecking and technological improvement of production facilities resulting in doubling the capacity for manufacture of Mancozeb fungicide at Thane plant. 1997 - The Fibre Division got ISO 9001 certification for its design and manufacture for Nylon and polyster Filament Yarns. 2001 - The Company has entered into an agreement with CDSL and NSDL for dematerialisation. 2004 -Modipon Ltd has informed that at the AGM held on December 30, 2003 the shareholders approved the delisting of its securities from Calcutta, Delhi and Kanpur Stock Exchanges. Modipon Ltd has informed that shares of the company have been delisted from Delhi & U.P Stock Exchanges w.e.f. March 31, 2004 and January 30, 2004 respectively. 2007 -Modipon Ltd has has appointed Sh. Santosh K Aggarwal as Director in casual vacancy.