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The company was incorporated in the name and style - shree balaji calendering house private limited on 2nd day of may 1981.
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The company was converted into a public limited company on 17th december 1982.
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The company started textile processing activities in january 1982 on rental machineries at dombivli in thane district of maharashtra.
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In 1983 the company had set up a cotton cum synthetic textile processing unit at dombivli in thane district of maharashtra.
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The change of name of the company to rajkamal synthetics ltd was effected from 4th day of march 1986.
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The company shifted and erected a modern process house at sachin in surat in 1986-87 and had purchased the latest modern plant and machinery which was operational in march 1990.this was financed by issue of debentures in favor of term lending institutions/public and term loan facilaties from icici bank and uti.
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The plant and machinery including electrical installation in sachin was damaged in the cyclone in 1992.
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The company could not restore production and was forced to discontinue its production activities.inspite of best efforts put in by promoters .
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The company entered into one time settlement (ots) of its outstanding dues with term lending institutions and institutional debenture holders.the fixed assets of the company had been disposed off by icici bank on behalf of the term lending institutions and debenture holders against their outstanding dues.
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The company has obtained the permission from bombay stock exchange for conversion of shares in dematerialised form . accordingly shareholders have been informed in the year 2010.
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The authorised equity share capital of the company has been increased from rs 300 lakhs to rs 700 lakhs in the year 2009.
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The company has received permission from the bombay stock exchange in the year 2011 for preferential issue in favor of unsecured creditors and promoters/ co partners for rs 475 lakhs.
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The company went in for a preferetial issue of shares in november 2011 to unsecured creditors and promoters and co partners for rs 425 lakhs.
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The paid upcapital of the company increased from rs 225 lakhs to rs 650 lakhs.
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After the above preferential issue the company's net worth converted from negative to a positive net worth.the company has become a debt free company.
