Shah Construction Company Ltd. Company History and Annual Growth Details

Shah Construction Company Limited is a Public Company incorporated on 05 April 1949. It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Mumbai. It is involved in Building of complete constructions or parts thereof; civil engineering.

YEAR EVENTS
1951 - 1,650 shares issued to vendors.

1952 - 200 Pref. shares and 450 No. of Equity shares issued for cash.

1954 - Further 450 No. of Equity shares issued for cash.

1956 - 5,000 No. of equity shares issued at par in Prop. 1:1.

1960 - The Company was Incorporated on 4th August. The main object of
the Company is Constructional engineers and contractors.

- 30,000 Right shares issued at par in prop. 3:1.

1964 - Authorised capital increased 20,000 Right Equity shares issued at
par in prop. 1:2.

1966 - 1,250 No. of Equity shares issued as fully paid up to the foreign
collaborators.

1967 - In April 20,000 preference shares issued through prospectus.
Pref. shares redeemable during 1st April, 1979/82 of 6 months'
notice. Arrears: Rs 1,350.

1974 - The Company entered into a consortium arrangement with three
other construction companies, viz., Hindustan Construction
Co. Ltd., Patel Engineering Co. Ltd., and Uttam Singh Dugal and
Co. Pvt. Ltd.

- A contract was secured for the construction of wholesale market
in Doha, Qatar.

- The Company is a partner in the firm M/s. Gammon Shah. In 1960,
12,000 No. of equity shares were offered for sale to the public
by existing share holders at a premium of Rs.50 each. Preference
shares were to be redeemed on 1st April, 1982. As there were not
enough profits available for redeeming these shares, the Company
extended the date of redemption to 1st April, 1987 and raised the
dividend rate of 13.5% from 1st April, 1982 and 19th May, 1984
respectively.

1975 - The Company subscribed to the 40% equity capital of Indo-Aryan
Construction Co., a company formed in association with Dr. Ali
Reza Saheb of Iran.

1982 - The Company applied for the approval of Company Law Board in
terms of Section 80A of the Companies Act 1956 for converting
arears of dividend amounting to Rs.30.49 lakhs into 30,500
redeemable preference shares of Rs.100 each to the preference
shareholders as on 13th March 1990.

1983 - Turnover decreased to Rs.16.26 crores due to shortage of fresh
orders. The on-going projects in Iraq were delayed owing to the
Iran was and this also adversely affected the operations.

1984 - Turnover further declined to Rs.8.10 crores, mainly due to
non-availability of fresh orders. Overseas operations were
adversely affected resulting in under utilisation of equipment,
idle labour and increased overheads.

1987 - The overseas pending work of Dujailah Housing Project was almost
at a stand still for want of materials.

1992 - The operations of Nerul Railway Station Project in Iraq was at a
stand still.

1993 - The Company negotiated with the Foreign Institutional
Institutions for private placement of shares for which the
permission from RBI was received. Simultaneously 25,00,000
shares were allotted to the promoter group at a premium of
Rs.65 per share.

1994 - The Company secured a contract for constructions of Silo, from
RCF Ltd. The Company explored the possibilities of entering into
real estate business.

- The Company is having a 50% partnership in M/s. Shah-Darwish.

2008

-The company has designated E-mail ID for Investors Complaints: scclindia@yahoo.co.in

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