BMB MUSIC AND MAGNETICS LIMITED was originally incorporated
 by promoters Mr.  Kalyan Neogi and Mr.  Prabir Kumar Sarkar
 on 8th July 1991 in the State of West Bengal as INTERRA
 EXIM PRIVATE LIMITED.  The Company was acquired by the
 present promoter Shri K.C.  Bokadia on acquiring controlling
 rights by purchasing the 15,000 equity shares of the
 Company.  The name of the Company was changed to BMB Music &
 Magnetics Pvt.  Ltd with effect from 21st Dec 1994, and on
 2nd March, 1995 the Company was converted into a Public
 Limited Company and received a fresh certificate of
 Incorporation from the ROC, West Bengal at Calcutta.
 
 The Company was engaged in trading activities till 31st
 Dec, 1994.  It was trading in various cloth items such as
 suitings, shirtings, dress materials, etc.  The company has
 acquired music rights for an amount aggregating to RS.  2
 crore vide agreements dated 1st March, 1995 as detailed
 below.
 
 NAME OF THE COMPANY    NAME OF THE MOVIE    STATUS                  
 AMOUNT
 
 BMB PRODUCTION         PRATIGYA             Film in process        
 40,00,000
                                             (5 songs recorded)
                        ANG AUR ISHQ         Shooting yet to start  
 25,00,000
                                             (3 songs recorded)
                        QAIDI NO.31          Film in progress       
 30,00,000
                                             (All 6 songs recorded)
                                                                    
 ---            ------
                                                                      
       95,00,000
                                                                    
 ---------
 BMB PICTURES           ASHIQ MASTANA        Film in progress       
 40,00,000
                                             (8 songs recorded)
                        ZULMO SITAM          Film in progress       
 40,00,0000
                                             (5 songs recorded)
                        ZAKHAMI SIPAHI       Film Released          
 25,00,000
                                             (7 songs recorded)
                                                                  
 -----------
                                                                  
 1,05,00,000
                                                                  
 -----------
 
 In consideration of the above, equity shares of the company
 have been issued at per.
 
 The company has now decided to diversify into manufacturing
 of Pre-recorded Audio Cassettes and Compact Discs by
 setting up a unit at RIICO Industrial Area, Sitapura,
 Jaipur, with a capacity of 120 lacs cassettes per annum and
 40 lac compact discs per annum Details of the project is
 given hereunder.