Australian Indian Resources Ltd – Corporate Information
AIR is a public, unlisted Australian company (ACN: 063881970), with its registered office at Victor Harbor, South Australia and Principal place of business at Perth, WA. Green Ledger Chartered Accountant, West Perth are the appointed auditors of the company. The present paid up equity capital of AIR is divided into 222,006,523 ordinary shares.
AIR was incorporated in 1994 by a group of Australian investors / shareholders who could foresee an opportunity to participate in the development of India’s mineral potential. AIR acquired 100% stake in Geomysore Services (India) Private Limited (GMSI), a mineral exploration company based out of Bangalore and started actively participating in exploration activities. The steady growth of the operations required commodity specific companies, hence Marwar Mineral Exploration Pvt Ltd, Premier Nickel Mines Pvt Ltd, Premier Minerals Exploration Pvt Ltd and Trident Mineral Exploration Pvt Ltd were formed as 100% subsidiaries of GMSI.
In the year 2006, AIR has diluted its shareholding, by allotting 4.3% stake to SUN Mining and Exploration Investment Ltd (SMEIL), which is currently registered at Mauritius. Simultaneously, SMEIL acquired ~20% in all the Indian subsidiary companies.
In the year 2009, AIR underwent restructuring where by all the subsidiaries of GMSI were made direct subsidiaries of AIR. Post – restructuring GMSI remain focused on gold exploration and mining, where as other subsidiaries focus on the non-gold projects.
In the year 2015, AIR has diluted its shareholding, by allotting 5.8% stake to Essel Investment Mauritius Limited, which is registered at Mauritius.