The Binod Mills Company Limited.

The BINOD MILLS COMPANY LIMITED, Ujjain, Madhya Pradesh (MP)
The erstwhile Raja of Gwalior, by a deed dated 22.10.1912, had granted permission to M/s.Binodiram Balchand of Jhalarapattan to open a spinning and weaving mill at Ujjain. BINOD MILLS COMPANY LIMITED was established in 1913 and incorporated as a Public company on 22 Dec 1914 under the Gwalior Companies Act of Samwat 1963 (1907 AD). As per last available information, it was registered as a Non-government Public company at Registrar of Companies, Gwalior with its authorized share capital as Rs. 50,00,000.00 and its paid up capital was also Rs. 50,00,000.00. .
A lease deed, styled as “Lease-Acceptance”, was then entered into by the sons of Mr Balchand (Binodiram's brothers) with the Raja of Gwalior, which mandated that 75- 80 bighas be given to the Firm on an annual rental calculated at the current assessment rates for so long as the mill is in existence and that the name of the Mills shall be “The Binod Mills Co. Ltd.” and the Mills shall work under this name. A plot of land measuring about 80 (eighty) Bighas and to the East side of the town of Ujjain (currently on Agra Road, Ujjain) was to be granted.
The mill must have fallen on difficult times in the late 1970's and was helped along by protection from liquidators by the Madhya Pradesh Government legislation, known as 'Madhya Pradesh Sahayata Upkram (Vishesh Upbandh) Adhiniyam, 1978', with the object of giving relief to sick undertakings gave relief to the mill, first by notification dated 15-11-1980, extended from time to time by subsequent orders, until 15-11-1987. when the last such notification was published.
The Mills closed in the year 1991 and have remained closed ever since. A Company Petition was filed by the Company itself asking for a voluntary winding-up. On 06.01.1996, a winding-up order was passed in which the Official Liquidator was appointed to take over the assets of the company and after protracted legal battles, the land was taken over by the State.
Posted here is a certificate, issued in the name of the Mill owner, Mr Binodiram Balchand of Jhalarapattan for 1 share of Rs. 100 each. The capital in 1949, when these shares were issued was Rs. 60,00,000 (Rupees Sixty Lakhs / Six Million). It is worth noting that the Share certificate, issued in May 1949, bears the Revenue stamp of Gwalior State though the state had merged in to India in 1948.

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