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History of ABL Bio-Technologies Ltd.

The Comp. was incorporated as a Private Limited Comp. in March 1992. the Comp. started its operations in August 1993 & exported its first consignment of Frozen Sea Food to Spain & Japan during December, 1993. During September 1993, the Comp. diversified its operations into infrastructure support services for aquaculture by supplying aquaculture equipment & inputs to the numerous Aqua farms. With a view to cater to the evergrowing demands, the Comp. has entered into long term agreements with several international companies of repute including Taiwan Mareden Group [aquaculture equipmentss], Taiwan, Aurum Aquaculture, U.S.A., [for drugs, chemicals, pesticidess] M and M Supplies Inc., Canada, [for feeds & ingredients, chemicals & accessoriess], Aquacutlure Research & Environmental Associates [AREAs] Inc., U.S.A [Sand Filters & Hatchery equipments] & Salt Creek Inc., U.S.A., [fro Brine shrimp eggss]. The main points of agreement are:

1. Exclusive Agency arrangement for representing the principals for all the products manufactured by them in the territory of India.

2. The agent [Aquastrides] will purchase from the principals on mutually agreed prices, products manufactured by them.

3. Provision for termination of contract on mutually agreed terms with advance notice of 2 months during the currency of agreement excepting the agreement entered into between the Comp. & Aurum Aquaculture which would be valid till February 9, 1997.

The operations of this division is carried out under the name & style 'THE ACQUASHOP'. For this, the Comp. has already identified franchises in many areas, notably, Nellore, Kakinada & Bhimavaram in Andhra Pradesh, Tuticorin & Nagapattinam in Tamil Nadu, Cochin in Kerala, Kumta in Karnataka, Panjim in Goa, Ratnagiri & Bombay in Maharashtra, Surat in Gujarat, Behrampur in Orissa & Calcutta in West Bengal. While many of these are already formalised & operational the remaining are under advanced stages of finalisation. The Comp. has 6 franchise operational & has plans to have atleast 40 more in operation during 1995-96.

During 1993, the Comp. established its own Backwater Productivity Research center at Sheratalai, Kerala. The Comp. has set up this research center over a 15 acre area & focuses at development of multiple products in Aquaculture using both freshwater & seawater resources & has successfully cultured various varieties of shrimps including Penaeus Monodon [Black Tigers], Penaeus Indicus [Indian Whites] & Metapenaeus Dobsoni & has been conducting research in a number of areas including Pharmaceuticals, nutrition, predator control, Biological control of effluent & disease management. The research center has also undertaken various programmes on the control of effluents through biological means by using plants & sea weeds.

Aquastride Bio-Tech Private Limited was converted into a Public Limited Comp. in March 1994 & renamed as Aquastride Bio-Tech Limited. During February 1994, the Comp. decided to diversify into High Technology Aquaculture & bio-technology research & as a first step towards this, the Comp. has established Shrimp Brood Stock Bank along with a Nauplii Production Center & Larval Rearing Unit based on modified Galveston Technology. The broodstock bank project is estimated at Rs.125.00 lacs & is being funded by IDBI which is participating in the equity of Comp. to the extent of Rs.50.00 lacs & convertible term loan of Rs.50 lacs, to be converted into equity any time during the currency of loan in two phases, one half at par & the other at par or the lower of book value & the CCI formula, whichever is higher, at IDBI option. The promoters are funding the balance. The Comp. has, through its inhouse R and D efforts, developed a few environmental friendly anti-bacterial & anti-fungal chemicals for specific use in aqua culture. Two of these products have already been launched in the market under the brand names 'AQS' & 'ALPROCIDE'. The past performance of Comp. is as given below:

2004

-Signs one Time Settlement with Indian Bank

-Acquires Shantha Marine Biotechnologies, a subsidiary of Shantha Biotech. Shantha Marine Biotechnologies becomes the wholly owned subsidiary of company

2006

-Abl Biotech launches pharmaceutical division