Our Company was incorporated on July 3, 1997 under the Companies Act, 1956 as a public limited company by the name of Titagarh Wagons Limited. We received our certificate for commencement of business on July 11, 1997. In 1998, our Company purchased from Titagarh Steels Limited (TSL), our Promoter Group company, plant and machinery for a consideration of Rs. 48.3 lakhs, as estimated by an independent valuer, S. Sen and Associates, for setting up its wagon manufacturing unit at Titagarh, West Bengal.We also acquired 2.36 acres of land from TSL by a conveyance of sale dated June 18, 2002, for a consideration of Rs. 37.0 lakhs. We acquired an additional 13.71 acres from TSL, by way of another sale deed dated April 23, 2004 for a consideration of Rs. 149.0 lakhs, which also granted our Company the right to use common passage along with railway tracks and siding thereon in perpetuity. In the event, TSL sells the common passage or any part thereof, we shall have the right of pre-emption to purchase the common passage at the prevailing market rates. Scheme Our Company entered into a Business Transfer Agreement (BTA) dated April 4, 2005 with Hyderabad Industries Limited (HIL) for purchase of its Heavy Engineering Division with effect from July 8, 2005 as a going concern along with its entire fixed assets on as-is-where-is-basis for a purchase consideration of Rs. 1,00,000 and specified liabilities towards gratuity payable to all continuing employees of HIL's Heavy Engineering Division as on July 8, 2005. In addition, to the purchase consideration, our Company also paid a consideration of Rs. 420 lakhs towards value of the inventory, which includes merchandise, goods,raw materials, consumable spares, stock in process, spares and tools etc. Pursuant to the BTA, all the immovable and movable, assets and properties(except current assets), all benefits and obligations under all contracts, engagements, arrangements in connection with or forming part of HIL (apart from those obligations imposed on the date of closing of the BTA between the parties) were transferred to our Company. Major Events (As per Calendar Year) 1997 Year of Incorporation 1998 Purchased Plant and Machinery from Titagarh Steels Limited. 1998 Our first order from the Indian Railways for supply of BOXN and BCNA wagons. 2000 Received Quality Certification ISO-9002 from Lloyd's Register Quality Assurance, United Kingdom. 2001 Scheme of arrangement/amalgamation between our Company and Omnicom Webtec Limited sanctioned by the Calcutta High Court; and Received registration from the Ministry of Defence, Government ofIndia to be a licensed manufacturer of Bailey Bridge. 2002 Land measuring 2.36 acres purchased from Titagarh Steels Limited Received recognition from the Ministry of Defence, Government of India, as an Industry Partner for wagon and bridges. 2003 Commenced manufacture of BOST and BFNS type wagons; and Received our first order from the Indian Railways Public Sector Unit CONCOR for supply of container flat wagons. 2004 Land admeasuring 13.7 acres purchased from Titagarh Steels Limited. Received our first order for export to Africa. 2005 Procured our first order from the National Thermal Power Corporationfor manufacturing MGR type wagons; Procured first private sector order from MSPL for manufacturing OYWS type wagons; Entered into a Share Subscription And Shareholders Agreement with Strategic Ventures Fund (Mauritius) Limited, Mauritius by way ofpreferential allotment of Equity Shares of our Company; and Acquisition of Heavy Engineering Division of Hyderabad IndustriesLimited pursuant to a Business Transfer Agreement. 2006 Entered into a Share Subscription Agreement and Shareholders Agreement with 2i Capital PCC, Mauritius by way of preferential allotment of Equity Shares of our Company; Entered into a Investment and Shareholders Agreement with Goya Limited, Mauritius by way of preferential allotment of Equity Shares of our Company; and Executed a Memorandum of Understanding with Kawada Industries Inc. for fabrication and construction of steel bridges. 2007 Entered into a Share Subscription Agreement and Shareholders Agreement with GE. Received our first order for EMU coaches from Indian Railways.Entered into a cooperation and funding agreement with JPMorgan Mauritius Holdings Limited for the purpose of proposing a scheme of revival and rehabilitation for Cimmco Birla Limited to the Board of Industrial and Financial Reconstruction. 2008 Entered into a Joint Venture Agreement with FreightCar America Inc. Entered into shareholders agreement with JPMorgan Mauritius Holdings Limited 2009 - Titagarh Wagons Ltd has informed that Shri. Nand Kishore Mittal has been appointed as an Additional Director of the Company, on and from June 30, 2009. 2010 -Titagarh Wag - Titagarh Wagons Acquire Wagon Manufacturing Unit in France 2011 -Mr. Charles Magolske appointed as an Additional Director of the Company -Titagarh Wagons Ltd has recommended Dividend of Rs. 8/- per share 2012 -Titagarh Marine Ltd (TML) has become a subsidiary of Titagarh Wagons Ltd 2013 -Titagarh-FreightCar Joint Venture Company to be Wound Up -Titagarh Wagons Ltd has informed that the Company has acquired 100% stake in Titagarh Marine Limited (TML) and accordingly TML has become a wholly owned subsidiary of the Company w.e.f. March 25, 2013. -Titagarh Wagons Ltd has informed that the Board of Directors of the Company has recommended dividend @ Rs. 4/- per share (40%). -Titagarh Wagons Ltd 100% stake in Titagarh FreightCar Private Limited 2014 -Titagarh Wagons Ltd has informed that the Companys Registered Office has been shifted from Premlata, 4th floor, 39 Shakespeare Sarani, Kolkata - 700017 to Flat 1B, Aster Court, 3 Loudon Street, Kolkata - 700017 with effect from January 15, 2014. -Titagarh Wagons Ltd 99.23% stake in Cimco Equity Holdings Private Limited (CEHPL) -Titagarh Wagons Ltd has informed that the Board of Directors of the Company have recommended dividend of Rs. 4/- per share for the financial year 2013-14. -Titagarh Wagons gains on winning contract 2015 -Titagarh Wagons receives industrial license from GoI -Titagarh Wagons has completed the acquisition of Railway Rolling Stock Manufacturing business of Firema Transporti, S.p.a. Italy -Titagarh Wagons acquires business of Firema Transporti -Titagarh Wagons has splits its face value from Rs 10 to Rs 2 2016 -Titagarh's subsidiary in Italy acquires a new order of about Euro 65 Million for Double Deck Trains -The Company has changed the place of its Registered office from "1B Aster Court, 3 Loudon Street Koikata-700017" to "756 Anandapur, E.M Bypass Kolkata-700107 -The company won an order for construction of two fuel barges for the Indian Navy in its recently added "Ship-building" vertical 2017 -Titagarh Wagons bags LoA for infra project in Nepal. -Titagarh Wagons starts construction of 2 Fuel Barges. 2020 -Amalgamation of Cimmco Limited with Titagarh Wagons Limited. 2021 -Company has been awarded a contract for construction and supply of five Diving Support Craft ('DSC') from the Indian Navy. 2022 -Titagarh Wagons acquires land and infrastructure for ship building at Falta, West Bengal. -Amalgamation of Titagarh Bridges and International (Transferor Company - wholly owned subsidiary of the Transferee Company) with the Company. 2023 -Company name has changed to Titagarh Rail Systems Ltd from Titagarh Wagons Ltd.