ASHOKA REFINERIES LIMITED was originally incorporated as a private
 limited company on 1st October, 1991 with the Registrar of Companies,
 Madhya Pradesh at Gwalior.  It was subsequently converted into a
 Public Limited Company with effect from 25th November, 1994 in terms
 of the resolution passed in the Extra Ordinary General meeting of the
 Company held on 8th November, 1994.
 
 PRESENT BUSINESS
 
 The Company is presently engaged in the business of refining of crude
 edible oil by semi-continuous process with an installed capacity of
 7500 MTA at its factory site located at Plot No.34, Rawabhata
 Industrial Area, Raipur.  The Company started commercial production
 in January, 1993.  The Company was sanctioned a Term Loan of Rs. 81
 lakhs by M/s. Madhya Pradesh Audhyogik Vikas Nigam Limited, and
 working capital limits of Rs. 245 lakhs by Union Bank of India,
 Raipur for the existing unit.
 
 The Company is now taking up an expansion cum modernisation project
 with a view to increase the capacity of refining crude edible oil to
 15000 MTA.
 
 MAIN OBJECTS OF THE COMPANY
 
 The main objects of the Company as stated in the Memorandum of
 Association are as under:
 
 1. To carry on business to import export buy, sell, manufacture and
 refine prepare and deal in oil and oil substances and to set up oil
 extraction and refine oil plant.
 
 2. To undertake whole sale and retail business or indenting of all
 kinds of oil products.
 
 SUBSIDIARY OF THE COMPANY
 
 The Company does not have any subsidiary.