Resistance Alloys (India) Pvt. Ltd. (RAIL); formerly called Resistance Alloys (India) Ltd., started production in 1989 as a joint sector project with The Pradeshiya Industrial Development Corpn. of U.P. Ltd. (PICUP), whose equity was divested to the promoters within 1 year of commencement of the production. This was a unique event in the annals of PICUP as their equity in any project was ever divested to the promoters until then.
Resistance Alloys (India) Pvt. Ltd. is now fully owned by Mehta family with a business history of over 60 years with interest in manufacturing, imports and trading.