Nalin Chemicals Limited (hereinafter referred to as 'The Company' or
 'NCL') was incorporated as a Private limited company on 1st May,
 1991, with the Registrar of Companies, rajasthan and was subsequently
 converted into a public limited company in terms of special resolution
 passed by the company at its Extraordinary General Meeting held on
 29th January, 1994 and obtained certificate of change of name dated
 3rd May, 1994. The registered office of the company is situated at
 B-779, Industrial Area, Bhiwadi, Alwar, Rajasthan. The company has
 set up manufacturing facilities for the manufacture of 180 tonnes per
 annum of Sulphamethoxazole at its existing plant site as a first step,
 with financial assistance from Rajasthan Financial Corporation (RFC).
 RFC had sanctioned a term loan of Rs. 90.00 lacs out of which the
 company availed Rs. 78.85 lacs only. It has started to repay the loan
 as per the repayment schedule and as on 1st April, 1995, the
 outstanding amount of loan was Rs. 61.56 lacs. The Company commenced
 commercial production in the month of October, 1992. Initially the
 company manufactured Paracetamol and since April, 1993 the company
 has been manufacturing sulphamethoxazole. The major customers of the
 company are Paam Pharmaceuticals (Delhi) Ltd., Dee Pharma Ltd.,
 Unisule Pvt. Ltd., and Lark Laboratories (India) Pvt. Ltd.