Yarn Syndicate Limited, Bombay (INDIA)

A Modest Beginning
The years immediately following the Second World War (1939-45) were necessarily unsettled and uncertain for embarking on commercial ventures. The primary concern then was to restore normalcy after the ravages of the war. Nevertheless, the spirit of entrepreneur ship promoted Patodias to launch a small Trading Company mainly for dealing in yarns of all kinds, and a Company limited by shares saw the light of the day, 60 years ago. Yarn Syndicate Ltd (YSL) was incorporated as a Limited Company on 23rd May, 1946 under the Indian Companies Act, 1913, with an authorised capital of Rs. 5 lakhs. The objects, interalia, of the Company were to carry on "in India or elsewhere the trade or business as dealers in yarns of all descriptions and varieties". With its Registered Office situated in Calcutta, in the then Province of Bengal, the Company commenced business on 21st July, 1946.

First Managing Director
The management of the Company was entrusted to Shri Madanlal Patodia who took office as the first Managing Directors of the Company. Shri Madanlal Patodia has all along- acted as the Chairman of the Board of Directors and Managing Director and continues to enjoy this unique privilege even today.

The Initial Years
The initial years, as usual, were characterised by trials and tirbulations. With a low capitalbase, the business of the Company was necessarily limited. Exploration of business opportunities, however, continued for enlarging the area of operations.

Recognition As A Trading House
For obvious reasons, exports occupied the centre stage of business activities of the company. With an impressive growth in export trade over the years, the Company's achievement on the export front soon attained commendable heights. The official recognition was not long incoming. In consideration of its bright export performance, the Ministry of Commerce, Government of India, for the first time, recognised the Company as an Export House and then a Trading House.

The Guiding Force. Behind Success
In more senses than one, the guiding force behind the success of the Company has all along been provided by its Chairman and Managing Director Shri Madan Lal Patodia who, ever since the incorporation of the Company in 1946, steered its business activities. With his rare foresight, matured wisdom and outstanding business acumen combined with dedication and conviction, the Company has been turned around to what YSL is today. Shri Madan Lal Patodia's invaluable contribution towards growth, development and success of the Company will go " long way in the history of the Company, an unique feat for an individual to function as the Chairman and Managing Director of a Corporate entity for half a century. Shri Patodia's active participation in the decision-making process even at the ripe old age of 90 will bear eloquent testimony to his exceptional ability, extra-ordinary alertness of mind and abiding interest of the well-being of the Company.

Expansion & Diversification
Not content with the existing scale of operations and the extent of profitability, the company has embarked upon expansion and diversification in a big way.