| The Company was incorporated in Avinashi, Tamil Nadu as S.P. Apparels Limited, a public limited company under Part IX of the Companies Act, 1956, pursuant to a certificate of incorporation dated November 18, 2005 that was issued following an application to convert M/s S.P. Apparels, a partnership firm into a company. The partnership firm was originally formed pursuant to a partnership deed dated December 14, 1988. Subsequently, pursuant to a
partnership deed dated November 7, 2005, the partnership was further reconstituted by the declaration of the partnership as a joint stock company. The joint stock company was thereafter converted into a public limited company pursuant to a certificate of incorporation dated November 18, 2005.
Major Events
The table below sets forth some of the key events in the history of the Company:
1989
-Started export operations as a partnership firm
1998
-Set-up the own manufacturing facility at Neelambur
2001
-Commissioning of the first wind energy generator
2003
-Set-up first in-house embroidery facility at Thekkalur
2004
-Set-up the flagship factory at Avinashi with full garment conversion process (from cutting to packing)
2005
-Conversion of the partnership firm to the Company
-Set-up first in-house printing facility at Avinashi
2006
-Acquisition of majority shareholding in CPPL pursuant to a share transfer agreement dated May 24, 2006 and a memorandum of understanding dated May 24, 2006 executed among CIPL, CPPL, the Company and Shivarams Associates Private Limited
-Addenda to the Technology License Agreement dated May 16, 2006 executed by the Subsidiary, CPPL with Crocodile International Pte Limited in 1996, for the use of the `Crocodile' brand
2007
-Acquisition of the `Natalia' brand pursuant to an agreement dated February 20, 2007
-Amalgamation of S.P. TexFab Private Limited with the Company pursuant to a Scheme of Amalgamation sanctioned by the High Cthet of Madras with effect from March 21, 2007
2008
-Amalgamation of Sri Balaji Bakkiam Spinning Mills with the Company pursuant to a Scheme of Amalgamation sanctioned by the High Cthet of Madras with effect from May 13, 2008
-Acquisition of the retail division from CPPL, on a going concern basis
2009
-Reschedulement of term loan facilities from State Bank of Mysore and State Bank of Indore. The facility availed from State Bank of Indore has been repaid by the Company subsequently.
2010
-Formulation and implementation of a foreign exchange policy for the Company
2011
-Sale of wind mills owned by the Company to Maple Renewable Power Private Limited pursuant to a slump sale agreement dated December 23, 2011
2013
-Investment by Euro Asia pursuant to the Investment Agreement
2014
-Incorporation of a wholly-owned subsidiary, SPUK in the United Kingdom
-Reschedulement of term loan facility from Andhra Bank
2015
-Execution of the Sub-Licensing Agreement with the Subsidiary, CPPL to manufacture, distribute and market products under the `Crocodile' brand
-Transfer of 12 retail stores by Poornam to the Company pursuant to the Slump Sale Agreement
Awards, Certifications and Recognitions
We have received the following awards, certifications and recognitions:
2006
-Awarded "Outstanding New Vendor" by The Children's Place (Disney Store, North America)
2007
-Received `Worldwide Responsible Apparel Production' certification
2009
-Recognized as `Star Export House' by the Government of India
-Awarded "Trading Fairly Award" by TESCO for setting benchmarks in Tirupur for labor standards compliance, investing in workers and supporting community projects
2010
-Awarded "Tamil Nadu State Government Safety Award 2010" by the Directorate of Industrial Safety and Health, Government of Tamil Nadu for the least number of accidents
2011
-Awarded "Tamil Nadu State Government Safety Award 2011" by the Directorate of Industrial Safety and Health, Government of Tamil Nadu for the least number of accidents
-Awarded "Best Newcomer" by Marks & Spencer Children's Suppliers Awards 2011
2012
-Awarded "Values Award" by TESCO
2013
-Awarded "F&F Gold Rated Supplier 2013" by TESCO
-Received laboratory accreditation ISO/IEC 17025:2005 by the National Accreditation Board for Testing and Calibration Authorities, Department of Science and Technology, India
2014
-Received ISO 9001:2008 systems certification
-Received laboratory testing accreditation by one of the customers.
2019
-Spinning Mill production capacity expansion to 25 MT / day. -Two Brand New ECO satellite sewing factories.
2024
-S. P. Apparels Limited Announces Strategic Acquisition of Young Brand Apparel Pvt Ltd, Expanding to New Intimate Wear Segment.
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