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History of Dhoot Industrial Finance Ltd.

DHOOT INDUSTRIAL FINANCE LIMITED is a Comp. originally incorporated as a private limited Comp. in the name of Sampoorria Traders Private Limited on 27th October 1978 & was converted into a Public Limited Comp. on 27th May 1994. Recently on 23rd September, 1994, the name of the Comp. has been changed to its present name.

The Comp. is presently engaged in trading of industrial Chemicals like Caustic Soda Lye, Caustic Soda Flakes, Sulphuric Acid, Hydrochloric Acid, Poly Aluminum Chloride, Chlorine, Sodium Sulphate, Oleum etc. The Comp. is Authorised Dealer of reputed Companies like Century Rayon, Grasim Industries Limited, National Rayon Corporation Limited & Dharamsi Morarji Chemical Comp. Limited. In last five years, the Comp. has established its business of Chemicals. Various reputed parties like MIDC, Zuari Agro Chemicals Limited, BASF India Limited, Dharamsi Morarji Chemical Comp. Limited, Deepak Fertilisers and Chemicals Limited, Searle India Limited, Zenith Limited, National Peroxide Limited, Industrial Oxygen Limited, Orient Paper Mills Ltd., Sirpur Paper Mills Ltd., etc. are the regular customer of company,

During the year 1993-94, the Comp. has registered a turnover of Rs. 82126 Lakhs with a net profit of Rs.15.62 Lakhs as against the turnover of Rs 649.68 Lakhs & the net profit of Rs.6.76 lakhs in the previous year & turnover of Rs.200.56 with a net profit of Rs 0.99 Lakhs in the year 1989-90, As may be seen, the Comp. has been posting better performance every year.

Looking at the present economic scenario & realising the possibility of company potential of growing into a leading finance Comp. in course of time, the Comp. plans to enter rapidly emerging financial services business where the Comp. will be engaged in both fund- based & non fund-based financial activities. The Comp. will mainly provide the following type of services to its valued clients.

1. Leasing & Hire Purchase Business 2 Bill Discounting & Inter Corporate Deposits 3 Project Investment & Corporate Counseling

MAIN OBJECTS OF THE COMPANY

The main objects of Comp. to be pursued by it on its incorporation, as set out in the Memorandum are as under:

1. To carry on business in India or elsewhere as buyers, sellers, importers, exporters, merchants, suppliers, dealers in & of all kinds & classes of fine or heavy chemicals, alkalis, acids, drugs, pharmaceutical, paper board, pulp, tea, cement & allied products, cotton yarn, thread & cloth, linen, flax, jute & other fibres, silk, artificial silk, woolen & other goods & fabrics whether textile, frebbled, netted or looped, machinery spare parts, accessories & equipment of all kinds, dyes, soaps, glycerine & textile specialities of every description; disinfectants, cleansing materials of every description, toilet requisites, all kinds of packing requisites.

2. To act as agents & brokers for sellers, buyers, exporters. importers, merchants, tradesmen, insurers & others & generally to undertake & carry out agency work and commission business.

Under section 17 of Act, the Comp. has altered its Memorandum by substituting respectively Sub-Clause No 57, 58, 59 & 66 in place of earlier said Sub-Clauses under Clause No. III-[Cs] i.e, OTHER OBJECTS & by adding Sub-Clause No. 89, 90 & 91 to the said Clause. The substituted & the new Clauses added are reproduced hereunder.

57. To carry on & undertake the business of Leasing & Hire purchase financing in all types of Movable & Immovable Industrial & Commercial Properties, including Plant & Machinery, Land & Buildings, Vehicles, Ships, Aircrafts, Patents, Trademarks, Inventions, Office Equipments & to lease, sub-lease & deal with them including sale & resale thereof. To arrange or syndicate leasing, hire purchase business.

58. To carry on & undertake the business of all types of Bill Dis counting, re-discounting, Factoring of any company, firm. Sole Trader, Individual, with or without Securities to such person/ party & on such terms & conditions as may be expedient & also act as broker, manager, factor for activities pertaining to bills discounting; & a discount and acceptance house, to arrange acceptance or co-acceptance of bills to hold, place, keep, receive or otherwise Inter Corporate Deposits with/from various Companies & also to act as broker, manager for activities pertaining to Inter Corporate Deposits & Loans.

59. To carry on the business as a Stock Broker & to undertake the business of trading in all forms of securities, stocks, shares, debentures, country funds, yield bonds.

66. To carry on & undertake the business of Foreign Exchange Transactions as agent, broker, manager, dealer & to engage in cross border trading as permitted by applicable awe in India & other countries from time to time; also to engage in the business of forward contracts in financial futures, currency futures, commodity fitness, options, swap options & all other financial derivatives/mechanisms.

89. To carry on & undertake & promote industrial financing by way of venture capital, loans, advances, deposits or lend money, securities & properties to or with any company, body corporate, firm, person, or association whether falling under same management or otherwise with or without security & on such terms & conditions as may be determined from time to time & to deal.

90. To act as broker, manager, agent, in all kinds [whether Indian or Foreigns] of Financial Instruments, Securities like Commercial Paper, Bills of Exchange, Promissory note, Bonds, Euro Commercial Paper, Euro Issues, Global Depository Receipts, Foreign Currency Convertible Bonds, Bonds with warrants, Revolving underwriting facility.

91. To carry on & undertake the business of underwriting, sub- under writing & act as commission agents, brokers, sub- brokers for all securities in primary, secondary markets & to act as agents, managers for rendering portfolio management services & also as investment advisor to carry on & undertake the business of Merchant Banking, Issue House, Registrars & Share/Debenture Transfer Agents and to carry out all activities as may be permitted to Merchant Bankers by Securities & Exchange Board of India and by any other authorities as the case may be.