YEAR EVENTS 1986 - Seasons Textiles Limited (STL) was incorporated as a Public Limited Company on 20th April and obtained a certificate for Commencement of Business on 21st May. The main objective of the company is to manufacture furnishing fabrics. - The Company has been promoted by Shri Nanak Singh, Shri Inderjeet Singh Wadhwa and Smt. Neelam Wadhwa. Shri Nanak Singh had been running a partnership business in the name and style of M/s Singh fabrics with an installed capacity of 40,000 metres per annum. - Considering the export potential of the product, the promoters decided to shift manufacturing activities to the organised sector and formed STL to install additional six automatic shuttleless looms, procured from M/s SOMET S.p.A Italy with installed capacity of 3,40,000 metres furnishing fabrics per annum with financial assistance from PICUP. - The company also took over the entire running business of M/s. Singh Fabrics. Subsequently, the installed capacity was increased to 5,80,000 metres per annum with financial assistance from Canara Bank. 1992 - The improved performance was attributed to maximum capacity utilisation and introduction of new fabric designs. 1995 - During the year the company introduced a number of designs/textures with various variants. However the margins were under pressure due to reasons like interest costs, increase in the manufacturing overheads due to ageing of looms and increase in sampling costs for exports. - 9,99,500 No. of equity shares issued, subscribed and paid-up. 42,70,000 No. of equity shares were issued through a prospectus in Feb. 1993 of which 10,70,000 shares were reserved and allotted to promoters, directors etc. (only 890,800 shares taken up). Of the remaining the following were reserved for allotment on a preferential basis: - (i) 15,000 shares to employees (only 2,300 shares taken up), - (ii) 12,50,000 shares to NRIs (all were taken up). - Balance 19,5,000 shares issued to the public along with 12,700 shares not taken up by employees issue to the public (all were taken up). 1997 - The company undertook to expand the manufacturing capacity by creating additional manufacturing capacity of 2,60,000 mts. p.a., increase the installed capacity to 8,40,000 mts. p.a. of furnishing fabrics at Noida dist. Ghaziabad. - The existing plot of land would house the looms, but the preparatory, finishing and packing sections would be shifted to another plot of land procured at B-19, sector-V, Noida, U.P. about 60 metres away from the existing plant. 2009 --Registered Office of the Company has been shifted to 61, Ring Road (Ground Floor), Lajpat Nagar-III, New Delhi - 110024. 2011 -Registered Office of the Company has been shifted From 61, Ring Road, (Ground Floor), Lajpat Nagar - III, New Delhi 110024 To D -29, Defence Colony, (Ground Floor) New Delhi: 110024. 2011 -Registered Address of the Company has been changed From "61, Ring Road, (Ground Floor), Lajpat Nagar - III, New Delhi 110024 to "D -29, Defence Colony, (Ground Floor) New Delhi: 110024.