The Diamond Spinning & Weaving Company Limited

The Diamond Spinning & Weaving Company Limited was incorporated as a Public company on 08th October 1919 under the Indian Companies Act 1913. Mill agents were Gulabchand Devchand & Co. One of the founder directors, Mr. Hansraj P Thackersey has a number of educational institutions named after him.

The share capital of the company at inception was One Crore (1,00,00,000) divided in to 50,000 Ordinary and 50,000 Preference shares of Rupees 100 each.

Attached is a Blue and Black partially paid up preference share certificate of Rs. 100 (of which only rupees twenty five have been paid up), issued on 25th June 1920. This certificate is issued in the name of the Mill Agent Mr. Gulabchand Devchand.

This mill seems to have had a very short life as no reference is found about this mill in the Handbook of Textile Industry 1948. Either the Mill had closed down in the recession in the 1930’s or had been sold and re-named.

 

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