Company History: YEAR EVENTS1948 - As a corporate body the Company came into existence in 1924 first as a private company and then converted into public company in 1948. The mercantile house of Duncans was originally established in 1859 under the name of Playfair Duncan & Company. The Company entered the field of jute business. A subsidiary company was formed to administer the Agency's business in Pakistan. - When the company was converted into a public limited company 65 000 No. of equity shares out of these issued without payment in cash.
1951 - Indian capital and management were introduced to participate substantially in the development and extension of the Group's affairs.
1963 - 18 000 Rights Equity shares issued (prem. Rs 10 per shares; prop. 1:5). 10 000 - 6% Pref. shares issued at par.
1965 - The Company was apppointed Managing Agents of National Textile Shares Company a company registered in Ethiopia for the establishment of a woollen weaving plant.
1966 - 10 800 Bonus Equity shares issued in the prop. 1:10.
1968 - 11 880 Bonus Equity shares issued in the prop. 1:10.
1969 - 10 000 - 6% Pref. shares redeemed. 25 000 - 7 1/2% `A' Pref. shares issued at par.
1977 - The agreement under which the Company acted as agents in India for several sterling tea companies ceased to be effective as from 30th December consequent upon the requirement for Indianisation of such Companies under FERA.
1978 - The Company signed an agreement with some producers offering them marketing services for their teas.
1981 - Rate of dividend on 7 1/2% Pref. increased to 11% and redemption date extended.
1988 - 25 000-11% `A' Pref. shares redeemed.
1993 - All 4% Pref. shares redeemed at par on 14th June.
1995 - Jubilee Investments and Industries Ltd. ceased to be a subsidiary of the Company from 20th April.
