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History of Daulat Securities Ltd.

Earlier, the Comp. was engaged in the business of:

i. Securities trading

ii. Investments.

No major operations were undertaken during the first financial year of Comp. for period ending 31st Dec, 1993 till which time exploration of stock broking services was made & branch offices were established to provide necessary services.

The Comp. made an application for membership of National Stock Exchange of India Limited for its Capital Market Segment in February 1994 & after a series of selection procedures was eventually admitted as member in May 1994. The Comp. has already paid to National Stock Exchange of India Ltd Rs. 45.00 lacs towards interest free security deposit & Rs. 5.00 lacs towards non adjustable deposit.

Accordingly as per the terms of membership, fund based Activities of Comp. were squared up & the Comp. is presently eligible to carry only non - fund based activities.

Presently the Comp. is engaged in the business of Securities, Trading & Investments. The Comp. has earned an income of Rs. 1.14 lacs from shares & securities in the Year ended 31st December, 1993[14 monthss].

Income from Investments in shares & securities has Increased to Rs. 23.38 lacs during the period ended on 31.7.94 [seven monthss]. As a result of this Company profit has been increased to Rs. 22.52 lacs.