Shivani Vanaspati Limited (SVL) was incorporated on November 4, 1992 as a public limited company and subsequently obtained the certificate for commencement of business on November 18, 1992. Since then, the company has been engaged in setting up of a 62.5 tpd Vanaspati manufacturing plant at Kapursingh near Cuttack, in Orissa at an estimated cost of Rs 1,197 lakh. On September 1, 1993, the company had acquired at book value cost of Rs 17,834, an oil mill comprising three oil expellers from Kalinga Oil & Refineries, Cuttack, to meet about 65% of its proposed Vanaspati unit’s raw material requirements.
At present, since SVL has not yet begun commercial production, it has given the oil expellers on rent, at the rate of Rs 50,000 per month to Kalinga Oil & Refineries with effect from June 1, 1994 as per the request of Kalinga Oil & Refineries vide their letter dated May 11, 1994. The acquisition of the oil expellers was funded by the funds brought in by the promoters.
None of the promoters or directors of the company have any interest whatsoever in Kalinga Oil & Refineries.
The registered office of the company is located at Kapursingh Village, P O Oranda, Cuttack, Orissa-754029.