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History of Patni Computer Systems Ltd.

Patni Computer Systems Limited was incorporated as Patni Computer Systems Private Limited on February 10, 1978 under the Companies Act, 1956. In 1988, by virtue of Section 43A of Companies Act, the Company became a 'deemed public company' & subsequently on April 15, 1991 it was converted into a private limited company. By virtue of its turnover exceeding prescribed limits under the then-applicable Section 43A of Companies Act, on July 1, 1995, the Comp. became a deemed public Comp. & consequent to the deletion of Section 43A from the Companies Act, 1956, the Comp. was converted to a private limited company on June 27, 2002. The Comp. was again converted to a public limited Comp. on September 18, 2003.

The original activities of Comp. were computer time rental, the resale of imported computer hardware, & software exports. In 1981, the Comp. promoted PCS Data Products [Privates] Limited ['PCSDP's] for the sale & marketing of computer equipment & hardware maintenance. In 1987, the Comp. promoted PCS Data General India ['PCSDG's], a joint venture with The Data General Corporation, USA, for manufacture and maintenance of computer hardware. In 1994, the name of PCSDP was changed to PCS Industries Limited ['PCSIL's] & PCSDG was merged into PCSIL. Since 1994, the Comp. has been entirely focused on software exports. In 1999, the shares of PCSIL held by Comp. & other non-operating assets were de-merged into other group companies & the Company emerged as a focused IT services company. Patni Computer Systems Limited is a separate entity from PCS Industries Limited, which is a group company.

2004

-Comes out with Initial Public Offering [IPOs] of 18,724,000 equity shares in the price of Rs 230 per share for a face value of Rs 2 each

-Assessed at Level 5 of Capability Maturity Model Integration [CMMI SE/SW version 1.1s] for all its development centers in Mumbai and Navi Mumbai after a rigorous month-long SCAMPI assessment by KPMG, India

-Inks MOU with the Birla Institute of Technology and Science [BITS], Pilani to offer educational programmes to Patni employees through the 'BITS off-campus Distance Learning and Collaborative Programmes' scheme.

2005

-Patni Computer Systems wins awards for excellence in corporate performance.

-Patni Computer Systems appoints Loek Van Den Boog as director.

-Patni Computer launches Defined BPO Service for Insurance Carriers.

-Patni Computer launches Life New Business STP Solution.