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Bhandari Hosiery Exports Limited (hereinafter referred to as the `Company') was incorporated on 25th November, 1993 as a Public Limited Company under the Companies Act, 1956 and obtained the Certificate for Commencement of Business on 7th December 1993. The company was incorporated with the main objective of acquiring and taking over the business of Bhandari Hosiery Exports, a partnership firm of Mr. Naresh Bhandari, Mrs. Kusum Bhandari, Master Nitin Bhandari and Ms. Nitika Bhandari. This partnership was formed in the year 1988 and was engaged in the manufacture of hosiery goods and cotton knitted readymade garments. The firm had an installed capacity of 8,40,000 pieces p.a. The company has taken over the running business of this partnership firm, Bhandari Hosiery Exports ason 25.1.94 as a going concern and the assets and liabilities of the firm were acquired at book value as per the balance sheet of the firm drawn on 25.1.94 without any revaluation of assets. The erstwhile partners have been issued 12,85,000 fully paid equity shares of Rs. 10/- each of Bhandari Hosiery Exports Limited in consideration of the acquisition of their partnership firm. The partnership firm helda SSI Registration vide letter No. 16/09/27308 dated 31st July 1989 issued by District Industries Centre, Directorate of Industries, Govt. of Punjab for the manufacture of knitted garments. To establish, purchase, sell, take or lease, hire or otherwise acquire and work any textile mills, handlooms, powerlooms, cotton, ginning and pressing factory, jute, hemp or other fibre presses, spinning mills, weaving mills, waste plant process, for pressing merchandise into bales process, buy, sell, import, export, pledge, speculate enter into forward transaction or otherwise deal in jute, cotton, kapas, cotton, seed, flex, hemp, silk and products made thereof. Product Names:
1. Cotton Hosiery,
2. Others,
3. Yarn (Traded).
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