Hindustan Agrigencies Limited (HAL) was incorporated on 25.07.90 with
 the Registrar of Companies, Delhi & Haryana as a private limited
 company with its registered office in New Delhi and converted into a
 public limited Company on 19.02.94 and obtained the fresh certificate
 of incorporation on 16.05.1994 with the objective of positioning
 itself in the sunrise industry of agriculture biotechnology.
 
 The Company commenced implementation of a tissue culture and hybrid
 seeds project at Hyderabad with a capital outlay of Rs.106 Iakhs in
 1990, with venture capital assistance of Rs.80 lakhs as Term Loan &
 Rs.6.5 lacs as equity capital from PCTC.  After trial production in
 early 1992, commercial production of hybrid seeds was started in
 April 1992.  At the same time the tissue culture project
 implementation and development of mother cultures were in progress. 
 The tissue culture development work has been completed and trial
 exports have been successful.  Commercial production of tissue
 culture plantlets commenced in August 1994.
 
 PRESENT BUSINESS
 
 The Company has set up a Tissue Culture & Hybrid Seeds Project having
 an installed capacity of 3000 TPA of hybrid seeds and 2 million tissue
 culture plantlets per annum.  The Company has availed working capital
 limits of Rs.70 lakhs from State Bank of Hyderabad.
 
 HYBRID SEEDS is a technology driven business.  Development of
 superior hybrids through R&D is a pre-requisite for success.  A
 strong extention and field promotion programme is necessary to
 transfer the technology from lab to land.
 
 Trial production of seeds started in early 1992 and commercial
 production started from April 1992.
 
 Simultaneously research work on seeds was started.  Using the
 experience and expertise of Company's research staff, it developed
 and introduced its own research hybrids in record time.  The company
 today has proprietory hybrids in 6 crops viz Sunflower, Cotton,
 Jowar, Bajra, Fodder Jowar and Tomato.  The Company's products (under
 the brand name Supergene and Sahakar) are now recognised as quality
 seeds and are compared with those of large and established companies
 in the industry.
  
 The Company is operating in 9 states, the major markets being
 Maharashtra, Karnataka, Punjab, Haryana and Rajasthan. The Company
 has a network of dealers in these states.  The distribution is
 carried out through distributors located in district headquarters or
 preferred dealers located in mandi towns.  They in turn, distribute
 the Company's seeds to retailers who further sell them to the
 farmers.  The sale of Company's seeds is almost exclusively through
 private channels except for supplies made to government departments
 or state seed
 corporation.
 
 TISSUE CULTURE is a technology for cloning of plants. Success in
 tissue culture business requires access to 'elite clones' and having
 commercially viable technology for high multiplication rates.  A
 glass house is registered for hardening in-vitro plants.
 
 Tissue culture business is of recent origin in India.  It involves
 exporting ornamental plants to the West.  There is also a large
 market for horticulture plants like banana, strawberries and forestry
 in India.
 
 The Company has successfully developed indigenous technology for
 producing different varieties of ornamental plants like syngonium,
 orchids, chrysanthemum, spathyphylum, etc, and horticulture plants
 like strawberry, grapes, and bananas through tissue culture
 techniques.  These products are presently under test marketing. Trial
 consignments
 have already been exported to parties in Spain, Belgium, Holland and
 USA from whom favourable feedback has been received. The commercial
 sales of plantlets developed through tissue culture commenced in
 August 1994.
 
 MAIN OBJECTS OF THE COMPANY
 
 The main objects of the Company as set out in Memorandum and Articles
 of Association of the Company are:
 
 1) To establish and carry on the business as researchers, developers,
 traders, dealers, agents, importers, exporters, distributors,
 representatives or otherwise in respect of the following products:
 
 a) Know-how, patents and products of biotechnology and genetic
 engineering, research and development in the field of agriculture,
 tissue culture and its metabolites, aquaculture, sericulture,
 pisciculture and marine, animal and other produce covered and
 understood by the term agriculture.
 
 b) Products which serve as any type of agricultural input such as
 pesticides (biological or chemical or any other type), fertilisers,
 nutrients, seeds, feeds, weedicides, fungicides and implements used
 for agriculture and agricultural outputs processed or other wise.
 
 2) To establish, maintain, conduct and operate research
 establishments, centres for dissemination of knowledge and technical
 advisory service for the purposes of agriculture in particular and
 biology and other frontiers of science with a view of evaluating,
 developing, improving, modifying or discovering new agricultural
 inputs.
 
 SUBSIDIARIES
 
 There are no companies which are subsidiary to this company and the
 promoters have not promoted any other company.