YEAR EVENTS 1981 - The Company, incorporated on 10th March, under the name of Parthasarathy Cements and Industries limited at Hyderabad in Andhra Pradesh and obtained the Certificate of Commencement of Business on 16th May. It was promoted by S. Ramachandra Rao, P. Thakur Prakash Rao, P. Haranath, P. Krishna Prasada Rao and their associates. The main activity of the Company is manufacture of Cement. 1987 - The Company came under the provisions of Sick Industrial Companies (Sp. Provisions) Act, 1985, and a reference was made to the Board for Industrial and Financial Reconstruction. - Allotted 8,00,000 shares to promoters, directors, their friends etc. and 4,20,000 shares to APIDC. 15,80,000 shares then issued at par of which 79,000 shares were reserved for allotment on a preferential basis to employees/workers of the Company but none were taken up. The remaining 15,01,000 shares, along with 79,000 shares not taken up by employees, were offered for public subscription during Feb. (only 5,100 shares taken up). The balance 15,74,000 shares devolved on the underwriters. 1988 - In March, the company was taken over by Mr. N. Krishna Mohan and Mr. V.V.S.R. Anjaneyulu. Associates as per approval of IDBI. Subsequently, the name was changed to Goldstar Cements Limited. - The Company undertook to set up a new dry process mini cement plant with an installed capacity of 66,000 TPA of ordinary Portland cement with the installation of a single stream 200 TPD dry process rotary kiln, with suspension preheater and other auxiliary equipments. The suspension pre-heater dry process technology was selected for manufacture of cement. - 10,00,000 No. of equity shares allotted to promoters at par. 1990 - BIFR sanctioned the rehabilitation/expansion package for an enhancement of capacity from 200 TPD to 600 TPD. 1991 - 55,20,000 No. of equity shares allotted to promoters, etc. at par as per the BIFR rehabilitation package. 1992 - 14,23,800 No. of equity shares allotted. 1993 - Necessary approvals were obtained from BIFR and other financial institutions to make a rights issue of Rs 600 lakhs. 1995 - The Company's project for expansion was commissioned on 21st April. - 64,46,280 shares allotted. 1996 - Non-availability of need based working capital adversely affected the operations of the company. - The name of the Company was changed from Goldstar Cements Ltd. to Sri Chakra Cements Ltd. effective 26th August.