BTW Industries Limited has been promoted by Mr Chandra Prakash
 Bhalotia a graduate, who started his career in the business of timber
 trade in the year 1973, largely dealing in local timber. The
 Government of India, meanwhile liberalised the import of timber to
 conserve the local forest by including timber in OGL. In 1988 he
 promoted Bhalotia Timber Works Private Limited (now BTW Industries
 Limited) to take over his rapidly expanding business as well as to
 start import of timber.
 
 Mr Bhalotia launched his career in Industrial activity in 1990, when
 he took over a sick unit of speciality plywood and another ancilliary
 unit to manufacture veneer located at Raipur in Madhya Pradesh. The
 two Companies are now styled Bhalotia Plywood & Industries Limited
 (BPIL)_ and Bhalotia Veneers Private Limited (BVPL). The operations
 of these units have considerably improved since takeover.
 
 After having consolidiated the gains in existing lines of activity,
 Mr Bhalotia is embarking upon oriented activities to take advantage
 of the policy now being pursued by the Government, which is export
 oriented.
 
 As the first part of the diversification, Mr Bhalotia has undertaken
 setting up a 100% EOU of granite project in Jeypore, District -
 Koraput, Orissa of which 1st Phase has been duly commissioned and
 commercial production started. The 2nd phase of Granite Unit is
 scheduled to be completed by end 1992. Yet another venture of Mr
 Bhalotia, a 100% EOU for manufacture of international grade
 Activiated Carbon from Coconut shells, is also under implementation
 in technical collaboration with PLEQ Plant & Equipment Engineering
 GmbH, Germany at an estimated capital outlay of Rs 3000 lakhs. Though
 the Activated Carbon Project shall be a division of the company, the
 proceeds from the present issuere not intended to be spent on the
 Activiated Carbon project.