AMJ Land Holdings Ltd

AMJ Land Holdings Limited, formerly Pudumjee Pulp & Paper Mills Limited, incorporated in November, 1964 is into the business of leasing of real estate, wind power and real estate development (through subsidiaries). Pursuant to the approval of the Registrar of Companies, Pune, the name of the Company was changed from ''Pudumjee Pulp & Paper Mills Limited' to 'AMJ Land Holdings Limited' w.e.f. 26th December, 2017. The Company's business of real estate development for housing project in Pune through its firm, AMJ Land Developers in which the Company holds 95% stake and a wholly owned subsidiary of AMJ Realty Limited, located in Pune. The Company is also in the business of generation and supply of power from its three windmills of aggregate 4.6 MW, located in Maharashtra, out of which two windmill are on the government forest land leased out to the Company. The area in and around Pune has rapid housing development to address needs of larger size homes and apartments by the customers and such demand and supply both are constantly growing the prices of homes in Pune have increased differently in different pocket of the city in past years but demand remain stable in spite of inflationary pressures in the economy. The Company, which started manufacturing operations at Thergoan, Pune, in Jan.'68, with an installed capacity of 6000 tons per annum (TPA), now produces 22,000 tpa of speciality paper. For the first time in India, it manufactured grease-proof and glassine paper(used for specific packaging purposes) in 1968. The company is also the pioneer in manufacture of chemical pulp using/from straw and bagasse, to make speciality paper. The Company evolved a technology for cleaner manufacture of pulp from bagasse which is the main raw material. This method is solvent-based and has been patented as the PUNEC (Pudumjee non-wood ethanol cellulose) process. The company installed an imported second hand paper making machinery during the year 1997-98. Further in 1998-99 the tissue making machine and power plant commenced commercial production. With the view of reducing cost of raw material, the company has installed during the year 1999-2000, waste paper recycling plant of capacity of 75 tonnes per day. In 1988, the company set up a waste-water treatment plant which reduces the impurities in the waste water while generating as a by-product, methane which is used as a substitute fuel in the boilers. In recognition of the work done on treatment of waste water, the company has been selected as a model unit by the United Nations Enviornmental Programme. The British Standards Insitution has granted the company certificate under ISO 14001, in view of the commitment of the company to environmental protection. The Co-generation Plant for the requirement of steam was made operational during the year 2004-05. Further, Gresham Investments & Finance Ltd., a wholly owned subsidiary of Pudumjee Investment & Finance Co.Ltd. (PIFCO) and also of the Company was amalgamated with PIFCO by an order dated 10'' December, 2004 of High Court of Bombay. With regard to the Company's business in Real Estate Development, the Bhoomi Poojan for the first project performed work on 16th May, 2008 on the land at Thergaon, Pune for constructing residential / commercial units of an aggregate area of about 8 lacs sq.ft. in partnership with G.Corp Properties Pvt. Ltd. Wind Power Project at Sadawaghapur in Maharashtra having capacity of 2.5 MW was commissioned in March 2011. Similarly, the third Wind Power Plant of 2.1 MW at Jat, Sangli commissioned during the year was operational thus taking the total capacity of renewable energy generation through Wind Mills upto 4.60 MW in 2013. The Paper manufacturing activity of the Company was demerged effective on 1st February 2016, through the Scheme of Demerger. Consequently all the relevant assets and liabilities and the employees of the demerged business got transferred to Pudumjee Paper Products Ltd., (PPPL) and in consideration thereof the shareholders of this Company were allotted 7,58,50,000 equity shares of PPPL. Post implementation of the Scheme, the main business of the Company consists of development of Real Estate as a Developer and Producer of Renewable Power including from existing Wind Power capacity. During the Year 2015-16, Pudumjee Paper Products Limited (PPPL) in which the Company had earlier subscribed its 2,55,000 Equity Shares of Re 1/- each at premium of Rs 19/- per equity share, ceased to be the subsidiary of the Company, as PPPL allotted 9,44,50,000 equity shares on 17th February, 2016, to the existing shareholders of the Company and of other transferor Companies, pursuant to the Scheme of Arrangement and Reconstruction (Demerger) which resulted into reduction of Company's share holding below 51% in PPPL. During the year 2021, the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench had approved the Scheme of Merger by Absorption of Pudumjee Investment & Finance Company Limited, wholly owned subsidiary of the Company with the Company, which accordingly became effective from 1st April, 2018. During year 2022, the Board of Directors of the Company had approved the proposal of sale of its entire shareholding in GCORP AMJ Land Township Private Limited, a Joint Venture of the Company in view of Current business situation. Accordingly, the GCORP AMJ Land Township Private Limited ceased to be the Company's Joint Venture Company w.e.f. 28th June, 2021. Further, the Company incorporated M/s. AMJ Realty Limited (ARL) as a Wholly Owned Subsidiary of the Company in 2022.