History

Indo Aquatics Ltd, was incorporated in the year 1991 with a view to do aquaculture. After acquiring Ac. 362.85 of land, Prawn culture was commenced in the year 1992-93 in ponds of sizes varying from Ha. 0.50 to 1.00 with the financial assistance of Rs… SCICI Ltd (Now ICICI Bank Ltd), SBH and SBI . The Promoters also invested Rs.385.03 Lakhs and an amount of Rs.371.11 Lakhs was raised by way of public issue. In the first year itself after the public issue, the company made spectacular profit of Rs.76.53 Lakhs in one crop in HA 20 WSA. After that in September 1994 the prawn culture was affected with unprecedented white spot virus disease resulting in total chaos in the prawn culture industry and the company is also no exception to that leading to deep financial crisis without any help from financial institutions. Finally the promoters settled all the secured loans by way of one time settlements to all the Banks / Institutions. Most of the plant and machinery / bunds were corroded and eroded due to efflux of time, nearness to the sea, non usage for more than 10 years in spite of the care taken by the management even though the organization was in deep financial crisis.

Inspite of all these problems, the Promoters somehow, managed and maintained the farm and hatchery with culture of various fishes in small extents only due to non availability of various inputs, due to financial crisis as well as non standardization of culture practices of prawns / fish. However the farm and hatchery will be ready for farming and production with minimum expenditures in due course of time with reasonable investment.