1. Company Overview

M/s. OCL Iron and Steel Limited (hereinafter referred to as “OISL” or “the Company”) was established in the year 2001-02 as coal based Direct Reduced Iron (DRI) production unit at Rajgangpur, District Sundergarh, Orissa. OISL further forayed in to steel making by setting -up steel melt shop (SMS) and billet casting facilities.

OCL Iron and Steel Limited (OISL) has taken initiative in expansion of plant by setting-up additional DRI Kilns, Coal Washery, Power Plant, Steel Melt Shop, Rolling Mills and associates Raw Material Handling System, utility & Electricals.

The Company is a public limited company incorporated in India. As at March 31, 2018, Garima Buildprop Private Limited, the holding company owned 68.39% of the Company’s equity share capital.

The financial statements for the year ended March 31, 2018 were approved by Board of Directors and authorized for issue on May 30, 2018.

c) Right, preferences and restrictions attached to shares

Equity Shares :

The Company has Issued equity shares having a par value of Rs 1/- per share. Each shareholder is eligible to one vote per share held and carry a right to dividend. The dividend, if proposed by the Board of Directors, is subjected to the approval of the shareholders in the Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity share held by the shareholders.

Preference Shares :

The Company currently has Issued 2% non cumulative redeemable preference shares of Rs 10/- each. Preference shares will not be redeemed before 10 years & not later than 18 years from the date of allotement at such premium as may be decided by the board of directors in accordance with the provision of Companies Act, 2013 or any re-enactment thereof.