Indrayani Biotech Ltd Company Summary

Indrayani Biotech Ltd Summary

Indrayani Biotech Limited was incorporated in 1992. The Company came out with a public issue in 1994 to part-finance its project to produce cut flowers, strawberries, tissue culture plantlets and hybrid vegetable seeds. Presently, the Company is engaged in manufacture of electric motors, generators, transformers and electricity distribution and control apparatusTechnical agreements have been signed with Floral Max, Malaysia; for rose cultivation; and with B L McKenzie and Associates, New Zealand, for tissue culture. The planting material for strawberries has been acquired from the US. The company has signed a test agreement with the Technology Transfer Offer of the University of California to obtain certified planting material from nurseries in California. IBL started exporting flowers to Holland and Dubai during 1994-95. Restricted water supply and changes in ecology resulted in a shortfall in achieving its goals.In 1995-96, the company incurred losses due to reasons beyond the control of the management like insufficient water supply, labour problem and sub-standard infrastructure. To overcome the above problems, the company is considering to shift its green houses to alternate locations.During the year 2010-11, the Scheme of Arrangement, seeking to reduce the equity share capital of the Company by 88%, conversion of unsecured loan into the equity shares, demerging the entire business into Indrayani Tissue Culture Pvt. Ltd., merging YoGoYo Division of Websource Technologies Ltd., was effective from August 21, 2010. Similarly, the Scheme of Arrangement for Amalgamation of Helios Solutions Limited and A-Diet Express Hospitality Services Limited as a going concern with the Company was made effective from April 1, 2018.IBL Investments Ltd was incorporated as wholly owned subsidiary company in 2022-23; Dindigul Farm Product Pvt Ltd became subsidiary in 2022-23.