Alan Scott Industries Ltd Company Summary

Alan Scott Industries Ltd Summary

Alan Scott Industries Limited was founded in February 1994 under the name of Suketu Fashions Limited the Company made its maiden Public Issue in August 1994 with IL&FS as Lead Managers to the issue. The Company was engaged in manufacturers of designer socks in India. The Company is a professionally managed Company and it has business objectives of manufacturing, trading etc. textile and textile related products and also carry out business activities related to production of films and film industries related activity, however in view of the poor financial conditions of the Company during the year no business operation has taken place and efforts made by the Board of Directors were not materialised.The Company is one of the first few companies to introduce the State of the Art manufacturing facilities in India besides launching its own brand ALAN SCOTT. It supplied socks to following brands between 1994 to 2002 including REEBOK, REEBOK, ROCKPORT, NEW BALANCE, WESTSIDE, LOUIS PHILIPPE, PROLIN, FILA, CROCODILE ETC.The manufacturing facilities of the Company were destroyed in fire in November 2002.In 2004-05, the Company set up manufacturing facilities by entering into an manufacturing agreement with Delta Galil Industries Limited (Israel). It commenced production at the new production facilities set up at Silvassa.The Company commenced the retail business during the financial year 2021-22 and opened 1 store. Alan Scott Nenoveu India Limited was incorporated as subsidiary Company on June 18, 2022. Alan Scott Retail Limited acquired 84.99% of the issued, subscribed and paid-up capital by subscribing 84,990 Equity Shares, and it became subsidiary of the Company. Similarly, Alan Scott Health and Hygiene Limited acquired 80% of its capital by subscribing 80,000 Equity Shares of Rs.10/- each and it became the subsidiary of the Company effective from May 03, 2022.