The Company was incorporated as a Private Limited Company under the
 name and style of Fortune International Private Limited on the 20th
 July 1981 with the Registrar of Companies, Delhi and Haryana with the
 main object to act as an Export House. Fortune International Private
 Limited took
 over the business of East - West Management and Manpower Consultants,
 a Sole Proprietor undertaking of Shri R.K.Shrivastava on the 30th
 April 1982. Shri R.K.Shrivastava was allotted 28,900 Equity Shares of
 Rs. 10/-
 each in Fortune International Private Limited as part consideration. 
 Company became Deemed Public by virtue of Section 43 A (IA) of the
 Companies Act 1956 on the 25th November 1988 and was subsequently
 converted into a Public Limited Company on the 27th September 1994.
 
 Fortune International Limited as an Exporter grew from a modest
 turnover of Rs. 17.13 lacs in 1981-82 to Rs.10400.42 lacs in
 1993-94(15 months).  The Company has been making profits from the
 very first year of its operation and has been reinvesting the same in
 its business. The Company has an uninterupted dividend track record
 since 1986-87. The Company has not faced any labour problem since its
 inception.
 
 The Company was/has been accorded the following status for the
 periods as mentioned under:
 -----------------------------------------------------------
 Status                  Period
 -----------------------------------------------------------
 Export House            1st April 1965 to 31st March 1988
 Trading House           1st April 1988 to 31st March 1994
 Star Trading House      1st April 1994 to 31st March 1997.
 -----------------------------------------------------------
 
 The Company is exporting a wide range of products like pharmaceutical
 machinery, auto-parts and accessories,computers and peripherals,
 chemical and allied products,sports goods, tea, coffee, soya bean
 extractions etc to over 20 countries including USA, Russia and
 European
 countries. The Company has developed more than 10 smallscale
 supporting manufacturers who export their products under the aegis of
 Fortune International Limited. The Company sells some of its products
 in the international market under the name, FORTUNE and FORT. The
 name
 FORTUNE and FORT are well recognised in the international market.
 
 The Company also has its own manufacturing facilities at Madras
 Export Processing Zone. The unit has been set-up essentially to
 manufacture pharmaceutical and electronic machines and execute
 projects on a turnkey basis for the Russian and East European market.
 The contribution to the
 total turnover of the Company arising out of this unit during the
 last three years was Rs.1070.56, Rs.1399.30 lacs and Rs.824.39 lacs.
 
 FIL has set-up full fledged branch offices at Bombay, Madras and
 Bhopal.  It has appointed agents in Germany,Cyprus, Singapore, Italy,
 Czech  Republic, Russia and Israel. In addition, it has set up branch
 offices at Germany and Russia.
 
 The Company has acquired 'state of the art' technology from (I)
 Schalke of Germany for the manufacture of 10 ton shaft sinking
 winches 
 
 (II) Simonazzi A & L Spa of Italy for the manufacture of certain
 types of processing and bottling equipment.
 
 This enables the Company to pass `state of the art' technology to its
 supporting manufacturers.
 
 The Company has also entered into Joint Venture Collaborations (JVC)
 with foreign parties. The JVC Agreements have been signed between FIL
 and foreign parties due to the credibility FIL commands in the
 international market. By virtue of signing the JVC Agreements, FIL
 will
 be able to deploy its surplus funds profitably and diversify its
 activities. FIL is one of the promoters of Fortune Oceanic Products
 Limited, a JVC Company with Ookea Limited of Estonia, engaged in Deep
 Sea Fishing with its base port at Goa.
 
 Fortune Oceanic Products United was incorporated as a Public Limited
 Company on the 15th March 1993. The Company has acquired four
 trawlers from Estonia. The fishing operations are controlled from
 Goa, the base port. Shri S.M. Shekel is the Managing Director of
 Company. He was
 formerly the President of the Association of Indian Fisheries
 Industries and has over 25 years experience in this line of business.
 Shri Shukla is incharge of the day.to-day operations of the Company.
 The on board
 operations of the trawlers are managed mainly by crew from Estonia
 under the aegis of Shri Elmo Seig, Technical Director. The Company
 has commenced Its operations in January 1994 and achieved a Sales
 turnover of Rs. 600.00lacs upto October 1994.
 
 The main terms and conditions governing the Joint Venture Company
 Agreement signed on the 27th August 1993 between Ookean Limited
 having its registered at EE 003, Tallinn,Paljassare Road, Estonia and
 FIL are:-
 
 i) As per the agreement, OL and FIL have set-up a JointVenture
 Company under laws of India to carry on the business of deep sea
 fishing and for harvesting, processing and selling of marine
 products, in the Exclusive Economic Zone of India and any other part
 of the world as may be mutually agreed.
 
 ii) The Shareholding pattern of the JVC will be: Ookean,its nominees
 and associates - 49% and Fortune, its nominees and associates - 51%.
 
 Awards
 
 FIL'S noteworthy performance and contribution towards exports has
 been recognised by various organisations. A list of prizes awarded to
 the Company are as under:
 
 BY CHEMICAL AND ALLIED PRODUCTS EXPORT PROMOTION COUNCIL
 
  ( All India Awards)
 -  All India Top Export Award          1987-88
 -  Certificate of Merit                1986-87
 -  Certificate of Merit                1985-86
 
 BY ENGINEERING EXPORT PROMOTION COUNCIL
 (All  India Awards)
 -  Regional Top Exporters Shield        1992-93
 -  Certificate of Export Excellence    1991-92
 -  Certificate of Export Excellence    1990-91
 -  Certificate of Export Excellence    1989-90
 -  Certificate of Export Excellence    1987-88
 -  All India Top Export Shield          1986-87
 -  Certificate of Merit                1985-86
 -  Regional Special Shield for Top
 -  Exports in the Nurthem Region       1984-85
 
 BY ELECTRONICS AND COMPUTER SOFTWARE EXPORT PROMOTION COUNCIL (All
 India Awards)
 
 -  Certificate of Export Excellence    1992-93
 -  Certificate of Export Excellence     1991-92
 -  Certificate of Export Excellence    1989-90
 
 MAIN OBJECTS OF THE COMPANY
 
 The main objects of the Company as per the Memorandum of Association
 of the Company are as under:
 
 1. To acquire the sole proprietary business and connected undertaking
 of Shri R.K.Shrivastava mining under the style and name of East- West
 Management and Manpwer Consultants,lock, stock and barrel with all
 attendant rights and privileges of export and other concessions
 including all the benefits as a recognised export house.  The said
 proprietary concern shall cease to exist after incorporation of the
 company and take-over of business by it.
 
 2. To act as an Export House in all ways and manners.
 
 3. To carry on the business as traders, importers and exporters of
 and dealers in all goods including those made of leather,
 leatherette, leatheroid, rubber, plastic, canvas, foam and rexin,
 ready-made garments and other kinds of textile goods of all varieties
 and distinctions and
 hosiery goods, utensils cutlery, art-wares and other goods made of
 brass, silver, electroplated nickel, silver,aluminum and alloy
 metals, chemicals, traditional and non-traditional goods and
 antiques, brass-wares,industrial, mineral brasswares and agricultural
 commodities, handicrafts, house-hold goods etc.
 
 4. To carry on business as traders, importers and exporters and
 dealers in all types of engineering goods, carpets,linoleums and
 furnishing fabrics and otherfloor coverings,curtain and other
 household requisites and equipments.
 
 5. To act as suppliers of technical know-how relating to the
 processing and marketing of various kinds of goods above mentioned in
 India and abroad and rendering of services in connection with the
 provision of such technical know-how and to transfer any
 rights,incidental thereto and imparting of information, knowledge,
 skill and expertise concerning their industrial, commercial or
 scientific knowledge, secret formula, models and designs.
 
 6. To act as business consultants, give advice, to engage in
 dissemination of information in all aspects of business, organisation
 and industry including assistance in manufacturing and processing of
 goods for export and sale within India and to advise upon the means
 and methods for extending and developing systems or processes
 relating to
 production, storage, distribution, marketing and securing of orders
 for sale of goods in India and abroad and/or relating to the
 rendering of such services.