YEAR EVENTS 1971 - The company was incorporated on 15th December, at Allahabad. The company was promoted by Shri S.N. Agarwal who was associated with the first sheet glass plant in the country set up at Bahji (U.P.) four decades ago. - The main objective of the company is to manufacture glass and glass products of all types, particularly sheet glass by P.P.G. (Pittsburg Plate Glass) process. - All shares were taken up by promoters, directors, etc. 1973 - 6,30,000 No. of equity shares offered at par for public subscription through a prospectus in June. 1978 - 12,100 No. of equity shares forfeited. 1,83,810 No. of equity shares allotted at par to financial institutions on conversion of loans. 1979 - Forfeiture of 1,700 No. of equity shares annulled. 1980 - Forfeiture of 350 No. of equity shares annulled. 1987 - The company undertook a project (plant No. 4) for manufacture of tinted and white sheet glass with annual capacity of 16 Lakh sq. mtr. 1990 - Production and sales suffered due to strike by workmen for four and half months and high cost of inputs. - The company undertook a project for the manufacture of neutral glass tube and rod with an annual capacity of 4000 tonnes near Meerut. 1991 - All the other plants except plant No. 2 were not in operation due to strike at the factory and the resultant repairs of furnaces. Production and sales improved substantially and as such better operating results were achieved despite increase in the input costs. - The project for manufacture of neutral glass tubes with imported electric furnace was dropped because of serious foreign exchange crunch in the country. On further consideration it was decided to implement the project with oil fired furnace. - The Company also undertook the implementation of figured wired glass manufacturing plant at Rajahmundry in Andhra Pradesh. 1992 - Record production and sales was achieved with production of sheet glass on 2mm basis and figured and wired glass on 3mm basis improving substantially to 107,98,730 sq. mtrs. and 26,25,010 sq. mtrs. respectively. Production of natural glass tubes was 547 tonnes and a higher production was marred due to some initial teething problems. - The company proposed to implement a project at Allahabad for manufacture of float glass by Chinese Luoyoang float process with a capacity of 200 tonnes per day. An agreement was entered into between the company and Chinese National Machinery Import & Export Corporation, Beijing for supply of major plant and machinery and technical know-how. - Legal suits in connection with the take over of management of Kratar Glass Works Ltd. was still pending in the court of law. The Company filed a petition for winding up of Kartar Glass Works Ltd. - As per the scheme of rehabilitation approved by BIFR, the company agreed in principle to the scheme of waiver of 50% of the dues and acceptance of the balance in 36 equal instalments. Commencing after 24 months from the date of recommissioning of the plant retaining the right to continue with the legal proceedings against Kartat Glass Works Ltd. in case of the scheme of BIFR fails. - 11,73,760 bonus equity shares allotted in prop. 1:1. 1994 - In October, for financing the float glass project, the company issued 39,12,534 No. of equity shares of Rs. 10 each for cash at a premium of Rs. 60 per share in the ratio of 5 shares for every 3 shares held to the existing shareholders aggregating Rs. 2739 lakhs alongwith 39,12,534 detachable and fully tradeable warrants to be converted into equity shares of Rs. 10 each for cash at a premium of Rs. 70 per share. - Simultaneously, 16,62,300 No. of equity shares of Rs. 10 each at a premium of Rs. 90 per share for Indian public/FIs and Rs. 110 per share for NRIs/OCBs aggregating Rs. 1731.20 lakhs were oversubscribed. - 55,68,959 No. of equity shares allotted on account of the rights and public issue. 1995 - 133 right equity shares kept in abeyance were allotted. 7,13,772 No. of equity shares (prem. Rs. 70) were allotted on conversion of detachable and freely tradeable warrants. 1996 - BIFR recommended winding up of Kartar Glass Works Ltd. and steps were taken to submit the company's claims before the High Court at Chandigarh. - Implementation of the expansion project at Rajahmundry for manufacture of figured glass was stopped due to paucity of fund. 2014 - Appointment of Company Secretary cum Compliance Officer Ms Sushma Membership Num A34410 an Associate member of the Company.