This article needs additional citations for verification .(June 2021) |
Company type | Public |
---|---|
Fate | split into multiple companies |
Binny and Co was a shipping, textile, banking and insurance firm based in the city of Chennai, India. It was one of the oldest business firms in Chennai city.
The company was responsible for the development of much of North Madras. It helped lay the foundations of major industry in Madras with the Buckingham and Carnatic Mills. Binny and Co was one of the founding members of the Madras Chamber of Commerce and Industry. [1]
Binny and Co was founded in Madras by John Binny as a general, clearing and forwarding agency in 1797. The company's first headquarters was a building then known as Amir Bagh on Mount Road. The company, then moved to a house a few blocks away, where Hotel Taj Connemara is now situated. [2] With the passage of time, Binny and Co entered the banking and insurance sectors.
John Binny set up a partnership with Mr Denison and renamed the company as Binny and Denison in 1800. [2] The firm moved to its present headquarters in Armenian Street in 1812. In 1814, it changed its name to Binny and Co. Binny and Co were the landing agents for the British India Steam Navigation Company and had a fleet of 35 barges and 30 lighters to transport men and goods from ships to land. They also ran a motor bus service for land transportation. [3]
Binny and Co set-up the Buckingham Mills in 1876 followed by the Carnatic Mills in 1881. Both were merged to form the Buckingham and Carnatic Mills in 1920. [4] They made khaki drill world-famous. The Bangalore Cotton, Silk and Woolen Mills was set-up in Bangalore in 1884. [5]
In 1897, the company ventured into sugar industry which proved to disastrous. The Deccan Sugar and Abkhari Company was set up and soon began losing money. By 1902, Binny was in dire straits and Parry had to buy the loss-making unit from Binny. In 1903, Binny ventured into coal mining industry and in 1905, it became the local agent for Burmah-Shell, setting up a large storage facility at Royapuram. Under John Alexander Boyson, Binny pioneered electricity and trams in Madras. [6]
Binny and Co suffered heavily from the crash of the bank Arbuthnot & Co on 22 October 1906. [2] On 31st October 1906, Binny and Co went into voluntary liquidation. On 16th November, it was taken over by James Mackay, George Mackenzie and Duncan Mackinnon and resurrected as a private limited firm under the Inchcape group. India's independence on 15 August 1947 further crippled the fortunes of the company. [6]
The Buckingham and Carnatic Mills, the company's only venture that was still successful, began to decline and faced losses by the 1970s due to lack of modernisation and damage caused by flooding. The mills closed down their operations in 1996 due to labour unrest and financial losses.and the mills were sold out in 2001. [7] [8]
in 1987, Binny & Co was acquired by Udayar group [9] [10] lead by N. P. V. Ramasamy Udayar. The company was split into multiple units in 2010. [10]
The Madras Presidency or Madras Province, officially called the Presidency of Fort St. George until 1937, was an administrative subdivision (province) of British India and later the Dominion of India. At its greatest extent, the presidency included most of southern India, including all of present-day Andhra Pradesh, almost all of Tamil Nadu and parts of Kerala, Karnataka, Odisha and Telangana in the modern day. The city of Madras was the winter capital of the presidency and Ooty was the summer capital.
Chennai, formerly known as Madras, is the capital of the state of Tamil Nadu and is India's fifth largest city. It is located on the Coromandel Coast of the Bay of Bengal. With an estimated population of 12.05 million (2024), the 383-year-old city is the 31st largest metropolitan area in the world.
Arbuthnot & Co was a mercantile bank, based in Madras, India. It had been founded as Francis Latour & Co in the late 18th century and then became Arbuthnot De Monte & Co. It failed spectacularly on 22 October 1906.
Muhammad Ali Khan Wallajah, or Muhammed Ali, Wallajah, was the Nawab of the Carnatic from 1749 until his death in 1795. He declared himself Nawab in 1749. This position was disputed between Wallajah and Chanda Sahib. In 1752, after several clashes, Chanda Sahib's forces and his French allies were expelled from Arcot, officially declaring Wallajah as Nawab on 26 August 1765. His reign was recognised by Mughal emperor Shah Alam II.
Broadway is one of the historical thoroughfares of the commercial centre of George Town in Chennai, India. The road runs north–south connecting China Bazaar Road in the south with Ibrahim Sahib Street in the north. The road divides George Town into Muthialpet and Peddanaickenpet.
Gazulu Lakshminarasu ChettyCSI was an Indian merchant and political activist who founded the Madras Native Association, one of the earliest Indian political associations, and the first Indian-owned newspaper in Madras, The Crescent. He was also the second Indian to be appointed a member of the Madras Legislative Council, succeeding V. Sadagopacharlu on his death. Lakshminarasu Chetty was born in 1806 to a wealthy indigo merchant Sidhulu Chetty in Madras. On completion of his initial education, Chetty entered the family trade and succeeded as a businessman. He entered politics and devoted money for social and philanthropic causes.
The Nayakas of Kalahasti were a line of rulers of Kalahasti and Vandavasi principalities. Members of the group include Damarla Chennapa Nayaka, after whom the city of Chennai is named. The Kalahasti Nayaks had their origins in the Velama warrior clans of present-day Andhra Pradesh. These Nayakas served as vassals of the late Vijayanagara Empire, then held by the Aravidu Dynasty and headquartered at Chandragiri and Vellore.
Victoria Technical Institute is an institute established to commemorate the Golden Jubilee of Queen Victoria. The institute promotes traditional handicrafts of South India.
Buckingham and Carnatic Mills, popularly known as B & C Mills, were textile mills run by Binny and Co. in the city of Chennai, India. The mills were closed down in 1996 and the site is now used as a container freight station and is a popular venue for film shootings.
Madras Chamber of Commerce and Industry is a non-governmental, industry-led and industry-managed organisation whose main purpose is to influence government policy on economy, trade, commerce and industry. It also works for better education, health, infrastructure and environment.
Chepauk Palace was the official residence of the Nawab of Arcot from 1768 to 1855. It is situated in the neighbourhood of Chepauk in Chennai, India and is constructed in the Indo-Saracenic style of architecture.
Madras Club, or Adyar Club, is a gentleman's club in the city of Chennai, India. Founded in 1832, it is the second oldest of its kind in India.
Chennakesava Perumal Temple is a Hindu temple situated in the George Town neighbourhood of Chennai city, Tamil Nadu, India. It is dedicated to Chenna Kesava Perumal. There is the nearby Chenna Malleeswarar Temple. They are twin temples. The temple was the first to be built in the new settlement; since the construction of Madras city by the British East India Company. Chennakesava Perumal is a manifestation of the Hindu god Vishnu. And considered as the patron deity of Chennai, Chenna pattanam may be named after the Chenna Kesava Perumal Temple. The word 'chenna' in Telugu means fair not to be confused with tamil word chinna, and the temple was regarded as the main place of the city.
Mallikesvarar Temple or Mallikarjunar Temple is a Hindu temple situated in the neighbourhood of George Town in the city of Chennai, India. It is one of the first Hindu temples to be constructed in the British settlement of Madrasapatnam. There is the nearby Chenna kesava perumal Temple. They are twin temples. This is also called Chenna Malleeswarar temple. Chenna pattanam may be named after this deities. The word 'chenni' in Tamil means face, and the temple was regarded as the face of the city.
Ekambareswarar Temple, Chennai is a Hindu temple situated in the neighbourhood of Parry's corner, Chennai, India dedicated to Shiva. It was constructed by Alanganatha Pillai, chief merchant of the Madras factory of the British East India Company.
Thenral, earlier known as Brodie Castle, is a house in Chennai, India. Named after civil servant James Brodie (1769-1801) who constructed the house in 1796, it currently houses the School of Carnatic music.
Suguna Vilasa Sabha is a club founded by Pammal Sambandha Mudaliar, based in the city of Chennai, India. The Suguna Vilasa Sabha club is also called as SVS club. The Suguna Vilasa Sabha club was founded by a band of public spirited men headed by Late Sambanda Mudaliar for promotion of histrionic talent in the year 1891.It is one of the oldest and foremost theatre companies in the city.
Peddanaickenpettah is a locality in the city of Chennai, India. It forms a part of the neighbourhood of Georgetown.
The Senate House is the administrative centre of the University of Madras in Chennai, India. It is situated in Wallajah Road, along Marina Beach. Constructed by Robert Chisholm between 1874 and 1879, the Senate building is considered to be one of the best and oldest examples of Indo-Saracenic architecture in India.
Rajaji Hall, previously known as the Banqueting Hall, Madras, is a public hall in the city of Chennai, India used for social functions. The hall was built by John Goldingham to commemorate the British victory over Tipu Sultan in the Fourth Anglo-Mysore War.