| YEAR EVENTS
1975 - The Company was Incorporated on 1st September, at Chennai. The
Company was promoted by N.S. Sethuraman, V. Srinivasan and A.R.
Santhanakrishan. In October, 1990, Sushil K. Jalan and his
associates took over the management by acquiring controlling
interest in the company.
- The Company's object is to manufacture electrical protection
equipment required for transmission and distribution of
electricity.
1977 - 700 shares subscribed for by the signatories to the Memorandum
of Association. 79,300 shares taken up by promoters, directors
etc. 1,20,000 shares offered at par to the public in October.
1980 - 1,60,000 shares allotted at par to Hawker Siddely Switchgear Ltd.
U.K. and 40,000 shares taken up by promoters, directors, etc.
1983 - 4,00,000 rights shares issued at par in prop. 1:1.
1986 - The Company entered into an agency agreement with Ferranti
Instrumentation, Ltd. U.K. for distribution of some of their
products.
1987 - The Company obtained Govt. of India's approval for the
manufacture of miniature circuit breakers in collaboration with
AEG Aktiengesellschaft, West Germany and disturbance recorders
in collaboration with Ferranti Instrumentation Ltd. U.K.
1991 - The Company had embarked upon a mechanisation/expansion programme
for its existing products involving:
- (a) increasing high tension switchgear capacity from 1000 nos. to
1800 nos p.a.
- (b) increasing the EHV isolator production capacity from 800 nos.
to 1300 nos p.a.
- (c) increasing the fuse and fuse gear production capacity to
15,00,000 nos. p.a.
- (d) installation of balancing equipment to upgrade miniature
circuit breakers (MCB) capacity of 10,00,000 nos. p.a. In order
to augment its low tension product range, the company proposed to
add the following related products:
- (a) auxiliary switches 18,000 nos. p.a.,
- (b) high current isolators 35,000 poles p.a.,
- (c) residual current circuit breakers (RCCB) 25,000 nos. p.a.
- 8,00,000 bonus shares issued in prop. 1:1 in Feb. 1992.
1992 - 14,40,000 shares issued (prem. Rs.40 per share) of which 8,00,000
shares offered as rights in prop. 1:2. Another 72,000 shares
reserved and allotted on a preferential basis to employees etc.
The balance 5,68,000 shares offered to the public in March.
Additional 2,16,000 shares allotted to retain oversubscription
(120,000 shares as rights, 10,800 shares to employees and 85,200
shares to the public).
1993 - A Memorandum of agreement was signed with South Wales Switchgear
Ltd., a company of the Hawker Siddeley Group, U.K., for supply of
technical know-how for the manufacture of SF 6 switch gear.
- Company developed new innovative range of switchgears, a range of
vacuum auto reclosers specially tailored for rural
electrification markets both in India and abroad.
- The Company raised funds to the extent of Rs.750 lakhs through
placement of commercial paper.
- The Company issued 25,00,000 warrants to the promoters on 29th
June 1994. These are convertible within a period of 36 months
from the date of allotment at the option of the promoter into
equity shares of Rs.10 each at a prem. of Rs.40 per share.
- Necessary approvals were received for issue of 162,80,000 rights
equity share at a prem. of Rs.40 per share in prop. 1:2.
- Another 50,000 No. of equity shares at a prem. of Rs.40 per share
was to be issued to the employees on an equitable basis.
- Subject to necessary approvals being obtained, the Company
proposed to offer 12,25,000 No. of equity shares at a prem. to be
determined, to FIIs.
- Railway Products (India) Ltd. and Yasaswi Finance and Investment
Ltd. are subsidiaries of the Company.
2002- S&S Power Switchgear Ltd has informed that at the meeting of the Board of Directors held on February 19, 2002: Mr Ashish Jalan's letter of resignation was accepted by the Board Board unanimously elected Mr Ashish Jalan as Chairman. Mr S Purkayastha has been inducted as a Director on the Board of the Company. The Board appointed Mr S Purkayastha as the Managing Director of the Company. Mr S C Bhatia's letter of resignation Nominee Director (ICICI) was accepted.
2006
--Registered Office of the Company has been shifted to Door No 16, TTK Road First Cross Street, Alwarpet, Chennai 600 018
2009
--Registered Office of the Company has been shifted to No. II Floor, No.19, (Old No.67), Dr. Ranga Road, Mylapore, Chennai 600004.
2023
-S & S Power Switchgear received an order for sale of isolators for MP Intra State Transmission Project through an EPC for a sum of Rs. 896.99 Lakhs.
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