SAREGAMA

In 1946, the company was incorporated as of 13th August, and it was a subsidiary of The Gramophone Company Ltd., England (parent company). Also, the parent company established its Indian branch in 1901 and set up a factory in Calcutta for manufacturing records and gramophones in 1907. Its factory is located at Dum Dum, Calcutta and was established in 1928. Also, the products manufactured were marketed under the trademarks "His Master's Voice" and "Columbia." Its parent company also carried on business in India until 1st July 1964 and also purchased and also acquired appropriate assets of the parent company's branch in India as a profitable concern. Also, the parent company is itself a subsidiary of Electric & Musical Industries Ltd., England, also known as EMI worldwide. Its main objective is to manufacture, sell and deal in gramophone records, radiograms, radio receivers, record players, pick-up cartridges, record producers, components and accessories thereof and the other allied products. Its factory is also situated at Dum Dum, Calcutta, where the parent company's factory was located. It is mostly up-to-date in all manufacturing techniques (especially in the field of gramophone records) and is also largely air-conditioned. It also maintains recording studios and distribution depots of its own in Calcutta, Mumbai, Delhi, and Chennai for the gramophone records and the other products. Also, the two Industrial Licences granted to the parent company for the manufacture of:

• 24,000 radio receivers per annum.
• 36,000 4-speed mains and 4-speed mains and battery operated record playing decks and battery-operated record reproducers p.a. were transferred in the company name.

Some of the Milestones:

• 1968:
• In May, it obtained another license to increase the annual capacity for the manufacture of the radio receivers from 24,000 to 40,000.
• Also on, 30-6-1968, all shares were held by the Gramophone Co. Ltd. The U.K. and its nominees.
• About 1, 50,000 shares were issued in December, (prem. Rs.5 per share); and 10,000 shares were reserved for directors and more. Also, 1, 40,000 shares were offered to the public.
• 1969: It entered into a technical collaboration agreement with Electrical & Musical Industries Ltd., England (EMI) that expired on 30th June.
• 1971: About 1, 50,000 shares were issued (prem. Rs.8 per share), and 37,500 shares as rights in prop. 1:8 to Indian shareholders; and 15,000 shares to employees and artists and 97,500 shares to the public.
• 1976: About 4, 50,000 Bonus shares were issued in prop. 3:5.
• 1977: It also ceased to be a subsidiary of the Gramophone Company Ltd., U.K., after the shares were issued to the Indian nationals via a prospectus in February. Also, the Gramophone Company Ltd., England and its nominees hold 7, 20,000 shares of the being issued by the company.
• 1983:
• Also, a letter of intent was received to set up a plant for the manufacture of 1000 million running meters p.a. of 1/4% magnetic tape.
• It also entered into a collaboration agreement with Capital Magnetic Products Inc., U.S.A., for offering the technical know-how for the project. Also, a license for importing major capital equipment was obtained. But, setting up a plant for the manufacture of audiotapes alone was not found viable.
• 1984: Also, the losses increased due to the sharp drop in record sales, and discounts paid to dealers, and also the reduction in the selling price of records for arresting the further decline in sales.
• 1985: It also applied for an increase in its licensed capacity for the manufacture of cassettes from 1.8 million p.a. to 10 million