Amrit Banaspati Company Ltd. (ABCL) was originally incorporated as Amrit Enterprises Ltd. on 28th March, 1985. The company had entered into a Scheme of Arrangement under section 391-394 of the Companies Act, 1956, with other group companies namely Amrit Corp. (Earlier it was known as Amrit Banaspati Company) and ABC Paper. The Scheme was duly approved by the High Courts of Punjab & Harayana, Allahabad and Delhi. Pursuant to this scheme, the edible oil business of erstwhile Amrit Banaspati Co. (now Amrit Corp.) was de-merged in the company and the paper business of erstwhile Amrit Banaspati Co. (now Amrit Corp.) was de-merged in ABC Paper with effect from April 1, 2006.
Pursuant to the aforesaid Scheme, the entire undertaking and business and also properties and liabilities of the edible oil and FMCG commodities business of Amrit Corp. (transferor company) were transferred to and vested in the company on and from the appointed date on a going concern basis and all the employees of edible oil and FMCG commodities business of Amrit Corp. Ltd. became the employees of the company without interruption in their services on terms not less favourable to them as then applicable.
Also, under the Scheme, the name of the company has been changed to Amrit Banaspati Company from Amrit Enterprises, while the name of transferor company was changed to Amrit Corp. from Amrit Banaspati Company.
The Scheme has led to economies of scale in the form of enhanced scale of operations and increased asset base leading to optimum utilization of resources and capacities.
ABCL has carried out various modernization/ upgradation schemes in the past to increase the capacity of its plants and improve operational efficiency etc., for which financial Institutions have sanctioned financial assistance from time to time. Today we are operating at an installed capacity of 450 MT/DAY which shows tremendous growth. This stupendous growth has been possible because ABCL has continuously endeavored to bring new products to the Indian consumer and to that end its R & D has played a key role.
Business Area of the company
The company is engaged in the manufacturing and marketing of Vanaspati, bakery shortenings, refined and filtered edible oils and other FMCG products.
Products of the company
Awards & Recognitions