Sweatamber Steel Ltd. వార్షిక వృద్ధి వివరాలు ఆధారంగా కంపెనీ చరిత్ర

The Company was incorporated on 22nd June, 1990 as a Private Limited Company in the name of "SWEATAMBER STEEL PRIVATE LIMITED". The Company was admitted as one of partners of M/s. MAHAVIR TRADERS w.e.f. 12th July, 1990. Subsequently all the existing partners namely Mr. Narendra Shah, Mr. Bhupendra Shah and Mrs. Bhanumati Shah retired on 28th February, 1991 and the SWEATAMBER STEEL PVT. LTD, has taken over the old steel business carried on by the Mahavir Traders w.e.f. 1st March, 1991. The Company was subsequently converted into Public Limited Company w.e.f. 8th March, 1991.

The Company has taken over the assets and liabilities of Mahavir Traders at the book value as on 28th February, 1991 and no revaluation of assets is made. The consideration paid to the retiring partners is Rs.16,67,800/- which is paid by alloting 1,66,780 Equity Shares of Rs.10/- each fully paid up.

The immediate object of the Company is to set up Fulfledge slitting line for processing of Hot Rolled and Cold Rolled (HR/CR) Coils into narrow strips which are required by electrical Industries, slit material processing units and to manufacture fabricated plant/machinery and equipment required by various consumer industries such as Engineering Industries, Chemical Industries, Machinery Manufacturing industries, Fertilizer Industries etc. Presently the company is engaged in steel trading business.

The company is promoted by Mr. Narendra Shah and Mr. Bhupendra Shah, two young dynamic entrepreneurs engaged in manufacturing and marketing of steel industry since last two decades in their own family business under the name & style M/s Mahavir Traders.