The Saraspur Manufacturing Co. Limited

 

Seth Lalbhai Dalpatbhai whose father, Dalpatbhai Bhagubhai was into cotton trading business since the 1870, decided to start his own cotton mill to expand the family business. He established The Saraspur Manufacturing Co. Limited in 1896 with an authorised capital of Rs. 6,00,000 divided in to 600 shares of Rs. 100 each.

This unit probably faced severe liquidity crises around 1923 and a winding up petition was filed against the company on 4 June 1924. After liquidation, Saraspur Manufacturing Co. Limited was renamed The Saraspur Mill Company Limited which was incorporated on 10 January 1928.

Here is a “Duplicate” share certificate of Saraspur Manufacturing Co. Limited , numbered 64 for ONE share of Rupees 100 only, issued on 5th February 1937 in lieu of an earlier certificate in the name of Manibhai Lalbhai. This certificate is signed by Kasturbhai Lalbhai, the son of Lalbhai Dalpatbhai as the official liquidator of Saraspur Manufacturing Co. Limited.

Kasturbhai went on the establish the Lalbhai Group of Mills in Ahmedabad (the remenants of which are known as the Arvind Group today). Lalbhai group at one time consisted of 7 or 8 textile mills besides manufacturing units for Dyes & Chemicals and an engineering unit.

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