YEAR EVENTS 1988 - The Company was Incorporated on 21st June, and obtained the Certificate for Commencement of Business on 8th August. It was promoted by Ashok Kumar Chaturvedi and Harish Chaturvedi. By a scheme of amalgamation, the assets and liabilities of Flex Laminates Ltd. and Flex Papers Ltd. were taken by the company effective from 1st August. The Company's objects is to manufacture and deal in flexible packaging materials of printed laminated of plastics and paper based materials. - 70 No. of equity shares subscribed for by Signatories to Memorandum of Association. 22,15,640 No. of equity shares allotted to erstwhile Flex Laminates Ltd. (in proportion 82 shares: 100 held in Flex Laminates) and 6,25,016 shares allotted to erstwhile Flex Papers Ltd. (in proportion 56 shares; 100 held in Flex Papers Ltd.,) both consequent to the Scheme of Amalgamation without payment in cash. 1989 - The Company proposed to undertake the Modernisation-Cum-Backward integration scheme, at its existing unit at NOIDA. It was to be undertaken under two projects. The first project was to involve an outlay of Rs.234 lakhs while the second one Rs.775 lakhs. Financial institution sanctioned a term loan of Rs.169 lakhs for for the first project and the remaining Rs.65 lakhs was to be met by internal accruals. The second project was to be financed by a term loan of Rs.580 lakhs and the balance of Rs.195 lakhs was to be met by internal accruals. - 21,59,274 No. of equity shares then issued at reserved and allotted to promoters, resident directors etc. Of the balance 20,00,000 shares, 1,07,964 shares were reserved for allotment on a preferential basis to employees (including Indian working directors)/workers of the Company as well as promoter companies (only 94,700 shares taken up). The remaining 18,92,036 shares alongwith 13,264 shares not taken up by employees were offered for public subscription during September 1989 (all were taken up) 1990 - With a view to further improving the quality of end products and to keep pace with the changing market requirements, the Company embarked upon a Scheme of Upgradation of technology, process and products to enable the Company to introduce high quality and new range of products. The Company hence proposed to acquire and commission eight colour rotogravure printing machine, colour scanner and other high speed, energy saving, high process control equipments and machines. - The Company issued 2,13,000 secured Redeemable non-convertible debentures of Rs.100 each for cash at par by way of private placement to Canbank Mutual Fund. - 25,00,000 Right equity shares issued in prop. 1:2. Another 1,25,000 shares offered to employees (all were taken up). 1991 - During June the company issued 26,25,000 No. of equity shares of Rs.10 each for cash at par at a premium of Rs.10 each aggregating to Rs.525 lakhs. Out of these 25,00,000 No. of equity shares were offered to shareholders, on rights basis in the ratio of 1:2 (all were taken up). 1993 - The Company made inroads into the exports market and registered Rs 26.98 crores compared to Rs 1.57 crores in previous year. - The Company undertook to set up a plant with the state-of-the-art technology for manufacture of pet film. - With a view to sustaining growth and cater to the expanded domestic and international market with greater strength, the Company undertook to the expansion-cum-backward integration projects. A plant to manufacture BOPP film with a capacity of 15,000 TPA was to be set and the existing capacity at pet film plant was to be expanded from 10,000 TPA to 23,000 TPA. - During May-June, the company issued 38,12,500 - 17.5% secured partly convertible debentures of Rs.100 each in Rights basis in prop. 1 debenture : 2 equity shares held. - Another 1,20,000 - 17.5% debentures were issued to employees on an equitable basis. - Rs.50 of the face value of each PCD was to be converted into 1 equity share of Rs.10 each at a premium of Rs.40 per share on the date of allotment of debentures. - Balance Rs.50 of the face value of each debentures was to be redeemed in 3 annual instalments of Rs.16, Rs.17 and Rs.17 at the end of the 7th, 8th and 9th years from the date of allotment of debentures. - Simultaneous to the above issue, the company also issued 9,15,000 - 18.5% secured non-convertible debentures of Rs.100 each with detachable warrant on Rights basis in prop. 16 NCDs : 50 equity shares held. - Each NCD was to be redeemed in 3 annual instalments of Rs.30, Rs.35 and Rs.35 at the end of 7th, 8th and 9th year respectively from the date of allotment of debentures or at the option of the company earlier but not before 3 years from the date of allotment of debentures. - Each warrant entitled the holder to apply for one equity share of Rs.10 each between 3 to 5 years from the date of allotment of NCD. 1994 - During September-October, the company issued 45,75,500 No. of equity shares of Rs.10 each for cash at a premium of Rs.215 per share on Rights basis in prop. 2:5. A warrant was attached to two equity shares and in entailed the holder to apply for 1 equity share at par between 3-5 years from the date of allotment of debentures (all shares were taken up). - Also, 22,87,750-13.5% secured non-convertible debentures were issued on Rights basis in proportion INCD:5 equity shares held, along with warrants. Each warrant attached to a NCD entitled the holder to apply for 1 equity share. - If warrants are not excercised during the said period, the entitlement would lapse. - The NCDs would be redeemed at the end of 5 years from the date of allotment at the option of the Company but not before three years from the date of allotment. - 49,28,416 No. of equity shares allotted at a premium of Rs.215 per share. 1995 - The Company registered a quantum jump over the previous year dispite facing a reverse shortage of BOPP film. - During November, the company issued 31,05,590 Global Depository Receipts representing 62,11,180 No. of equity shares. - The Company issued 74,53,416 GDR of U.S. $30 Million at a premium to the market price in December. The GDR issued at a price of U.S.$ 8.05 per GDR. 74,53,416 No. of equity shares were issued. 1996 - To give a further thrust to exports, the Company has set up a Joint Venture in U.S.A. with Vinmar Inc., viz., Flex Vin Inc. - The Company won Dupont Award for Innovation in Food Processing and Packaging, U.S.A. - The Company has been awarded ISO-9002 Certification for confirmation to quality system standard for one of its units. - The GDRs issued at a price of US $ 8.05 per GDR resulted in allotment of 7453416 No. of Equity Shares of Rs. 10/- each. - Shri Shailendra Swarup, Shri R.K. Khanna and Shri Amar Singh, Directors of the Company retire by rotation and being eligible offer themselves for re-appointment. - Shri R.K. Sharm resigned as Director of the Company w.e.f. 21.8.96. 1997 - FIL modernised and expanded the capacity of is polyester film unit in 1996 from 12,000 tpa to 24,000. - The Credit Rating & Information Services of India Ltd (Crisil) has downgraded the non-convertible and partly convertible debenture programmes of Flex Industries from A to A, indicating adequate safety for timely payment of interest and principal. - Crisil has also downgraded the fixed deposit programme of the company from FAA- to FA indicating that the degree of safety regarding the timely payment on the instrument is adequate. - Flex Engineering Ltd, a sister concern of Flex Industries, has also been downgraded by Crisil. The AA- rating assigned tot he non-convertible debenture programme of the company has been downgraded to A indicating adequate safety of timely payment of interest of interest and principal. 1998 - The Company has successfully developed some new products indigenously viz. Packaging material for commodity items, for grey cement; pouted flexi tubes for packaging of tooth paste, jam, jelly, face cream gel etc.; peelable film for medical applications etc. - Due to adverse operating conditions in the company's business more particularly in PET & BOPP films sectors, general sluggishness in the economy and slackness in demand, it faced tight liquidity position, which not only affected company's capacity to meet its financial obligations to Financial Institutions and Banks but also affected the smooth operations of activities. - The Company had allotted 915000 - 18.5% Secured Non-Convertible Debentures alongwith Detachable Warrants in July, 1993. 1999 --Flex Industries Ltd and Polyplex Corporation Ltd--two polyester majors have decided to hive-off their polyester film businesses to form a joint venture. -The companies had signed a memorandum of understanding (MoU) recently to create the country's largest and the world's fifth largest polyester film manufacturing company with an installed capacity of 39 000 tonne per annum. 2000 -Board Approves, the proposal to acquire 100% share holding in Cincom Systems India Pvt. Ltd., 100% subsidiary of Cincom System Marutius (CSM) and which is a 100% subsidiary of Cincom System Inc. 2001 -Financial institutions led by ICICI sanction a debt restructuring package -Issues and allotts 1,00,00,000 warrants at a price of Rs 24 per warrant to promoters and their associates. -The restructuring package, worth Rs 700 crore cancelled by the Financial Institutuions(FI) -Delhi High Court rejected the bail applications of suspended central excise chief commissioner Someshwar Mishra and Flex Industries chief Ashok Chaturvedi in a bribery case. 2002 -Mr. M G gupta and Mr. N Sitaraman have been appointed as Directors of the company. -Shri K.E.C. Raja Kumar has been nominated by UTI on the Board of Directors of the company as their new nominee in place of Shri Ravi Kathpalia. Shri Ravi Kathpalia has been co-opted as a Director on the Board of the company. -Mr. N Sitaraman, Director of the company has been appointed as Director (Secretarial & Legal) of the company w.e.f. July 08, 2002. 2003 -Approves the allotment of 10000000 equity shares against the conversion of 10000000 warrants on preferential basis - Mr. Paresh Nath Sharma has been appointed as a Whole-time Director of the Company with effect from September 15, 2003. -Major fire breaks out at two of the production lines located at Sector-60, Noida engaged in manufacturing flexible plastic materials on October 01, 2003 -Mr. P Abraham has been appointed as Nominee Director of Unit Trust of India in place of Mr. K E C Raja Kumar on the Board of the Company. -Independent investigator appointed by the Department of Company Affairs to probe the charges against Flex Industries 2007 -Uflex Ltd has informed that ICICI Bank Ltd has nominated Mr. Sandeep Malhotra as their Nominee Director on the Board of the Company in place of Mr. A Karati. -Company name has been changed from Flex Industries Ltd to Uflex Ltd. -Registered Office of the Company has been shifted To 305, 3rd Floor, Bhanot Corner, Pamposh Enclave, Greater Kailash-I, New Delhi-110048. 2008 -"IFCI Limited has nominated Mr. Javed Yunus as their nominee Director on the Board of the Company. 2009 -Start-up of BOPET Film Barrier Metlln. at Mexico 2010 -Start-up of BOPP Film Barrier Metalln. at Egypt 2011 -Start-up of CPP Film at Egypt -Start-up of AlOx Coating at Egypt -Start-up of BOPET Film at Egypt -Commenced construction of BOPET Film plant in Poland -Commenced construction of BOPET Film plant in USA 2012 - Board recommended a Dividend @ Rs. 2.00 (Rupees Two only) per share (20%). 2013 - Board recommended a Dividend @ Rs. 2.40 (Rupees Two and paise forty only) per share (24%). 2014 - Board recommended a Dividend @ Rs. 2.50 (Rupees Two and Paise Fifty only) per share (25%) . 2015 - Uflex Bags Silver Award For Flex Safepack At 27Th Dupont Awards For Packaging Innovation - Uflex Wins Make in India Award for Excellence 2016 - Uflex launches SSFL in Gujarat - Uflex honoured with CSR Leadership Award 2016 - Uflex wins 2 awards in packaging - Uflex launches Extrusion Lamination Machine in India 2017 -First Indian company to manufacture Aseptic Liquid Carton Packaging with a plant commissioned in Sanand, Gujarat. -"Indiastar And Sies Sop Star Packaging Excellence Awards 2017 For Uflex ". -"Chemicals Business of Uflex bags CII National Award for Excellence in Water Management 2017". -Uflex and Implementation Partners honoured with Bureaucracy Today CSR Excellence Award 2017. - Uflex engineers flexfresh bag to export papaya by sea freight. -Uflex Launches Super Barrier Polyester Film. 2018 -Uflex's Waterless Internet Flower Packaging Wins Top Honors at Sustainability Awards 2018. -Uflex helps Fresca launch in holographic aseptic packs. -Small Sachets by Uflex pack a Big Punch at FPA and AIMCAL Awards 2018. -Uflex Chairman honoured with The Economic Times Polymers Lifetime Achievement Award 2018. -Flexfilms Launches Two New Advanced Bopet Film. 2019 -Uflex Launches A Revolutionary Packaging Solution `Asepto Eye' For Beverages Industry At Gulfood Manufacturing 2019 In Dubai. -Uflex Honoured With `Excellence In Packaging - Beverages' At The Et Polymers Awards 2019. 2020 -Expands its operations in Poland with the commissioning of its second BOPET Line. -Uflex Chemicals Business Launches Dual Purpose Sanitizer `Flexguard-I'. 2021 -Uflex Teams Up With Hoffer Plastics And Mespack To Launch 100% Recyclable Mono-Polymer Hot-Fill Pouches. -Uflex Joins Alliance To End Plastic Waste To Strengthen Its Global Mission Of Building A Circular Plastic Economy. 2022-UFlex Chemicals Introduce Zero Liquid Discharge Technology at its Noida Facility for Water & Environmental Protection. -UFlex Partners with CREDUCE to Achieve Carbon Neutrality to reduce almost 175,000 tonnes of carbon emission equivalent by end of 2024.-UFlex Chemicals acquires India patent for Solvent Free Pigmented Adhesive and a Process for its Preparation. 2023 -Expanded its operations in Dubai with the commissioning of a CPP packaging films line. -Added capacities at Dharwad, Karnataka with the commissioning of a BOPET packaging films line. -Expanded its operations in Mexico with the commissioning of a PCR packaging films line. 2024 -Company has successfully achieved the Commencement of Commercial Production of the Company's manufacturing facility at Panipat with an installed capacity of 1,68,000 MTPA. -'Commencement of Commercial Operation of CPP Film production Line at Flex Films Rus LLC, Russia'.