Purpose & Values


Milestones

1974-75 Incorporation of Piramal Rasayan Ltd by Piramal Group
1985-86 Transfer of Piramal Group shareholding to Atul Ltd
1987-88 Acquisition of dye-intermediates plant of Western India
   Enterprise Ltd at Roha, Maharashtra
1991-92 Establishment of Sulphuric Acid plant at Ankleshwar, Gujarat
1993-94 Sale of dye-intermediates plant at Roha
1997-98 Establishment of H-acid plant at Atul
2003-04 Closure of Ankleshwar and Atul dye-intermediates plants due
    to non-viability
2004-05

Reference to Board for Industrial and Financial Reconstruction
   (BIFR) as a potential Sick Company

Relieving of workmen through voluntary Retirement Scheme

Establishment of Sulphur Trioxide and Sulphur Dioxide plants
   at Ankleshwar

2005-06

Registered with BIFR

Settlement of dues of banks and financial institutions by Atul Ltd

2006-07

Declaration by BIFR as a Sick Company

Dismantling of dye-intermediates plants at Ankleshwar

2008-09

Settlement of dues of unsecured creditors as One Time
   Settlement (OTS)

Submission of Draft Rehabilitation Scheme (DRS) to BIFR

2009-10 Approval of DRS by BIFR
2010-11

Recast of Board of Directors

Submission of Modified Draft Rehabilitation Scheme (MDRS) to
   BIFR

Approval of MDRS by BIFR

Setting aside of MDRS by Appellate Authority for Industrial and
   Financial Reconstruction

2011-12 Submission of new MDRS
2013-14

Approval of MDRS by BIFR

Dismantling and sale of assets of H-acid plant at Atul

   
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