YEAR                       EVENTS
 1974 - The Company was incorporated in the State of Karnataka on
 October
        4th, as a public limited company in the State of Karnataka. 
        The company was promoted by the Morarka family of Mumbai to
 take
        over the distillery division of The India Sugars and
 Refineries
        Ltd., Hospet.
 
      - The main object of the Company is to manufacture spirits,
 alcohol
        and all types of Indian Made Foreign Liquors (IMFLs) and
 potable
        drinks. 
 
 1978 - The Company acquired this distillery with effect from 1st
        October.
 
 1990 - The Company entered into an agreement with M/s. Western
        Industries Ltd., who are having collaboration with PAQUES B.V.
 
        Netherlands, for installing and commissioning Biogas plant on
        turnkey basis.  This plant was commissiond in March.
 
      - 4,80,000 shares allotted to subscribers to the Memorandum and
        Articles of Association, promoters, friends and relatives,
 etc.
 
 1991 - The objects of the public issue of equity shares during
 December
        were:
 
      - (i) to part finance the cost of modernisation scheme;
 
      - (ii) to augment long term resources for working capital
        requirements and 
 
      - (iii) to get the Company's shares listed on recognised stock
        exchanges.
 
      - The Company promoted a subsidiary Company viz. Pampasar
 Holdings
        Ltd.
 
      - 25,20,000 shares of Rs. 10 each issued at par of which
 7,20,000
        shares were reserved and allotted to promoters, directors etc.
 of
        the remaining, 18,00,000 shares, 1,26,000 shares were
 reserved
        for preferential allotment to employees (only 5,200 shares
 taken
        up).  The balance 16,74,000 shares along with 1,20,800 shares
 not
        taken by the employees were offered for public subscription
        during December.  Additional 2,50,000 shares were allotted to
        retain oversubscription (70,000 shares to promoters,
 directors,
        etc., and 1,80,000 shares to public).
       
 1992 - The Company proposed to replace the existing batch
 fermentation
        plant and the distillation unit with a new continuous
        fermentation plant and distillation plant with a capacity of
 33
        kilolitres per day of industrial alcohol.
 
      - The Company also proposed to set up a new bottling plant with
 a
        capacity of 18,000 ltrs. of potable alcohol per day and also
 to
        install other balancing equipments like plate heat
 exchangers,
        stainless steel blending/storage tanks and maturation casks
 to
        have optimium utilisation both in the rectified spirit and
        potable liquor sections.