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History of Daurala Organics Ltd.

The Comp. was incorporated as Gama Chemicals Private Limited on 1.6.1990 at New Delhi & converted into a Public Limited Comp. pursuant to a Special Resolution dated 8.4.1991. Fresh Certificate of Incorporation was obtained on 25.6.1991 consequent to change in the name of Comp. from Gama Chemicals Limited to Daurala Organics Limited. Having been incorporated as a Private Limited Company, the Comp. is not required to obtain a Certificate of Commencement of Business.

The Comp. has no subsidiaries. However, DCM Shriram Industries limited is the Holding Comp. of Comp. from 1.4.1992.

Promoters:

DCM Shriram Industries Ltd., the promoter of project, is one of three new companies spun off as a result of Scheme of Arrangement for reorganisation of DCM limited The Scheme of Arrangement under Sections 391/394 of Companies Act, 1956 was approved by Hon'ble Delhi High Court on 16.4.1990 & became effective from 1.4.1990. As a result of Scheme of Arrangement, Daurala Sugar Works, Shriram Rayons & Hindon River Mills units of undivided DCM limited were vested in DCM Shriram Industries limited The businesses of three units are briefly as under:- Daurala Sugar Works - primarily a sugar factory with a crushing capacity of 4500 TPD also has a Chemical Division manufacturing Benzyl group of Chemicals. - Shriram Rayons - manufactures Rayon Tyre Yarn, Cord, Fabric, & Industrial chemicals. The Rayon Tyre Cord & Fabric is primarily marketed to the tyre manufacturing companies. It is also exporting part of its production. - Hindon River Mills - a composite Textile Mill manufactures Cotton, Synthetic Yarn & Fabric. It is also exporting yarn.

DCM Shriram Industries limited is headed by Dr. Bansi Dhar as Chairman & Managing Director. Prior to this assignement Dr. Bansi Dhar was the Chairman & Sr. Managing Director of undivided DCM Ltd.

Dr.Bansi Dhar is also the Chairman of Board of Directors of Daurala Organics Ltd.

Foreign Technical Collaborators :

Eka Nobel AB, Sweden developed the process of manufacture of DLPG from Benzaldehyde which has been transferred to the Company. Giral Ltd.,U.K. has provided to the Comp. the technology for manufacture of PG from DLPG & also arranged the patent transfer.

Products It is proposed to manufacture 500 tpa of PG for which 400 tpa of Benzakdehyde & 408 tpa of DLPG will be produced at site as intermediate products. PG is an import substitute drug intermediate used in the manufacture fof life saving antibiotics like Ampicillin & Cephalexin.