YEAR EVENTS 1978 - The company was incorporated on 13th January, and the Certificate of Commencement of Business was obtained on 9th February. It was promoted as an investment company under the name Mahadevi Investment Co., Ltd. with effect from 1st July, Piramal Spg. & Wvg. Mills, Ltd. - The main objective of the company is to manufacture cotton textile and blended fabrics. - 20,000 shares subscribed for by promoters, etc. and 30,000 shares offered at par for public subscription during August. 1979 - The amalgamation was sanctioned by the Mumbai High Court by its order on 21st June. - After the amalgamation the name of the company was changed to Piramal Spg. & Wvg. Mills Ltd. on 9th November. - Authorised capital reclassified. 17,15,000 No. of equity shares issued without payment in cash to the members of Piramal, Spg. & Wvg. Mills Ltd., on its amalgamation with the Company in the prop. 7 shares of Mahadevi Investment to 4 shares of Piramal Spg. 1985 - The company revalued the fixed assets of its mills at Mumbai and at Ambarnath as on 30th June. 1986 - The company launched its third phase of modernisation programme at a capital outlay of Rs. 4 crores envisaging installation of automatic looms and certain balancing equipments. 1989 - Improvements were attributed to availability of adequate raw materials as reasonable prices, improvement in quality of yarn and fabrics, increased demand for local and export fabrics etc. - The company finalised its fourth phase of modernisation programme involving a capital outlay of Rs. 298 lakhs for renovation in the spinning preparatory for upgradation of quality of yarn, for installation of auto looms and other machinery to cater to the requirements of exporters of garments etc. 1990 - Most of the machinery required for the 4th phase of modernisation programme was installed. 1991 - With effect from 1st April, the Niranjan Mills Ltd. (Niranjan) was amalgamated with the Company pursuant to a scheme processed under the Sick Industrial Companies (Special Provisions) Act, 1985. - 1,50,000 No. of equity shares issued pursuant to a scheme of amalgamation. 1992 - The setback in the working was attributed mainly to steep hike in cotton prices, high cost of inputs and underutilisation of capacity in the Company's unit due to changeover of the product mix from local market to exports and ready made garments. - In order to finance partly the 5th phase of the modernisation programme and to meet the working capital requirements, the Company offered during September/October, 9,04,837-17% secured redeemable partly convertible debentures of Rs. 100 each in the following manner: - (i) 8,61,750 debentures to the equity shareholders of the company in the ratio of 9 debenture for every 20 equity shares held (all were taken up) and - (ii) 43,087 debentures to the employees including Indian working directors/workers of the Company (only 900 debentures were taken up). The unsubscribed 42,187 debentures were allowed to lapse. - As per the terms of the debenture issue, a portion of Rs. 50 of each debenture (Part-A) was converted into one equity share of Rs. 10 at a premium of Rs. 40 per share as on 31st May, 1993. - The non-convertible portion of Rs. 50 (Part-B) of each debenture would be redeemed in 5 equal instalments of Rs. 10 each on the expiry of 5 years from the date of allotment of convertible deventures. 1993 - The inflationary tenderises prevailing in the textile industry, the overall working could have been still higher. The Company considered disposal of the Lower Parel unit by shifting the machinery therein to the Ambernath unit. The 5th phase of the modernisation programme was under implementation. - 8,62,650 No. of equity shares of Rs. 10 each allotted at a prem. of Rs. 40 per share on part conversion of part A of 17% PCD. 1995 - Despite several problems plauging the composite mill sector, the company registered a marginal increase in sales volume. Moreover, the processing sections which were earlier being operated at Lower Parel unit & Ambernath unit were brought under one roof by June. - The company submitted an application to the IFCI for a loan of Rs. 17 crores for modernisation of its spinning and weaving departments at its Lower Parel division. Also, a moderate modernisation programme for its division at Surat. 1996 - Company has faced problems due to sluggish market conditions and severe competition from the unorganised sector. 2000 - The Company has been declared as a Sick Company under Section 3 Clause (1)(o) of SICA and ICICI has been appointed by the BIFR as the Operating Agency to formulate a scheme of revival. 2001 - Crisil has revised its rating in respect of the company's non-convertible part of PCDs from `D' to `not meaningful', as the company has been referred to the Board for Industrial and Financial Reconstruction. 2006 -Marathon Nextgen Reality & Textiles Ltd has informed that the equity shares of the Company has been delisted from the Ahmedabad Stock Exchange Ltd (ASE) w.e.f. December 11, 2006. -Marathon Nextgen Realty has given the Bonus in the Ratio of 4:1 2007 - Marathon Nextgen Reality & Textiles Ltd has appointed Mr. V Ranganathan, I.A.S. (Retd.), as an Additional Director of the Company. -Company name has been changed from Marathon Nextgen Realty & Textiles Ltd to Marathon Nextgen Realty Ltd. -The Company has issued Bonus Shares in the Ratio of 2:1. 2008 -Marathon Nextgen Realty Ltd has appointed Dr. Samir K Barua, as an Additional Director of the Company at the Board Meeting held on January 28, 2008. 2009 - Marathon Nextgen Realty Ltd has informed that the Board of Directors of the Company at its meeting held on May 20, 2009, has appointed Mr. Padmanabha Shetty as Additional Director of the Company. 2010 - Marathon Nextgen Realty Ltd Board to consider Bonus Issue & Dividend - Marathon Nextgen Realty Ltd declares Interim Dividend @15% - Marathon Nextgen Realty has given the Bonus in the Ratio of 1:2 -Registered Office of the Company has been shifted From Marathon Nextgen, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400013 To "FUTUREX", N.M. Joshi Marg, Nr. Lower Parel Railway Station (W.Rly),Lower Parel, Mumbai-400 013. 2011 - Marathon Nextgen Realty Ltd declares Interim Dividend @35% 2012 -Marathon Nextgen Realty Ltd Recommended a Dividend of 6% (Rs. 6/- per share of Rs 100/- each) on the Preference Share Capital and a dividend of 40% (Rs. 4/- per share of Rs. 10/- each) on the Equity Share Capital. 2013 - The Board Recommended a Dividend of Rs. 4.50/ (45%) on equity share of Rs. 10/- each 2014 - The board Recommended a Dividend of Rs. 5/ (50%) on equity share of Rs. 10/- each 2015 -Marathon Nextgen informs about investment in Parmeka Pvt Ltd -The Company has allotted the Bonus Shares to its shareholders in the Ratio of 1:2. 2016 -Marathon Nextgen Realty Ltd has submitted to the BSE a Copy of Certified High Court Order alongwith Scheme of Amalgamation of Parmeka Pvt. Ltd. with Marathon Nextgen Realty Ltd. -MarathonNextgenRea - Project Launch -'Monte South' Byculla - a JV Initiative -MarathonNextgenRea - "Marathon Group" enters into the Education Space. 2021 -Marathon Bags the "Developer of the Year" Award at Estrade Real Estate Awards 2021. -Marathon Group launches new inventory in Lower Parel flagship project. 2022 -Marathon Group launches final tower at Marathon Nexzone, its flagship township at Panvel. -Marathon Group launches phase 2 of Kalyan-Shil township project.