Company History: HISTORYPPL was incorporated as a private limited company on July 5 1982 with the Registrar of Companies Maharashtra atBombay under the name Parekh Platinum Private Limited.Subsequently it was converted into a Public LimitedCompany in terms of special resolution passed on June 10 1992 and a fresh certificate of incorporation was issued onAugust 24 1992 in the name of Parekh Platinum Limited.
The registered office & factory of the company is locatedat 16B Samhita Industrial Estate Jeevan Silk Mills Lane Off Andheri Kurla Road Safed Pool Bombay - 400 072.
On July 1 1987 the company had acquired the business ofrefining process and noble metals manufacture of preciousmetal chemicals precious and noble metal catalysts wires foils sheets plates etc. at 16B Samhita Industrial Estate Jeevan Silk Mills Lane Off Andheri Kurla Road Safed Pool Bombay - 400072 from Ms. Jyoti Refinery a partnership firm consisting of Mr. Jamnadas Nathalal Parekh Mr. Jaisukhlal Jamnadas Parekh Mr. Hasmukhrai Jamnadas Parekh Mr. Rajnikant Jamnadas Parekh Mr. Rajesh Jamnadas Parekh.
The important terms of the agreement are
(a) The business was to be acquired as a going concernincluding goodwill but excluding the immovable property.
The company acquired:
(i) all movable assets including stock-in-trade plant andmachinery furnitures motor car etc.
(ii) the current assets and current liabilities as set out in the annexure to the indenture entered into in this respect on 10.08.87
(iii) benefits and uses of all the rights titles licences and
(iv) goodwill valued at Rs.50 000/-.
The total consideration was Rs. 18 34 078.97.
(b) The consideration in respect of the assignment was paidto the partners in the form of shares of the face value ofRs. 9 50 000 and the balance amounts of Rs. 8 84 078.97 bycrediting the accounts of the partners.
The company has also taken on lease the factory buildingand 32 000 square feet of land from M/s. Jyoti Refinery.
The major events in the growth of the company can brieflybe presented as follows: 1976 - The activity of precious metal refining starts.
1979 - Diversification into the field of Capacitor materials business.
1983 - Moved into Platinum group metals business.
1989 - Entered into a technical know-how agreement with Gemini Industries Incorporated USA for refining of spent petrochemical and petroleum catalyst.
1989 - Executed an order for supply of catalyst gauzes worth Rs. 14 crores to Rashtriya Chemicals and Fertilisers.
1990 - Received order for recovery of platinum from petrochemical catalyts from IPCL Baroda.
1990 - Awarded order for supply of supply of catalyst gauzes and chloroplantinic acid by GSFC Baroda.
1993 - Commissioned the Gold refining plant.
1994 - Awarded 4 year exclusive contract by GNFC for catalysts & catchment gauzes.
1994 - Awarded 5 year by GSFC for catalysts & catchment gauzes.
1994 - Commissioned the Gold Potassium Cyanide project in collaboration with LeoRonal U.K. plc.
2003
-Mr. Hiten M Parikh was appointed as Additional Director on the Board of the Company.
-Mr. Sanjay Majmudar has resigned as Director of the Company w.e.f. December 03 2003. Mr. Bharat Ghiya has resigned as an Alternate Director of the company w.e.f. December 03 2003.
