Patni Computer Systems

Patni Computer Systems Limited was incorporated as Patni Computer
 Systems Private Limited on February 10, 1978 under the Companies
 Act,
 1956. In 1988, by virtue of Section 43A of the Companies Act, the
 Company became a deemed public company and subsequently on April 15,
 1991 it was converted into a private limited company. By virtue of
 its
 turnover exceeding prescribed limits under the then-applicable
 Section
 43A of the Companies Act, on July 1, 1995, the Company became a
 deemed
 public company and consequent to the deletion of Section 43A from
 the
 Companies Act, 1956, the Company was converted to a private limited
 company on June 27, 2002. The Company was again converted to a
 public
 limited company on September 18, 2003.
 
 The original activities of the Company were computer time rental,
 the
 resale of imported computer hardware, and software exports.  In
 1981,
 the Company promoted PCS Data Products (Private) Limited (PCSDP) for
 the sale and marketing of computer equipment and hardware
 maintenance.
 In 1987, the Company promoted PCS Data General India (PCSDG), a
 joint
 venture with The Data General Corporation, USA, for the manufacture
 and
 maintenance of computer hardware. In 1994, the name of PCSDP was
 changed to PCS Industries Limited (PCSIL) and PCSDG was merged into
 PCSIL. Since 1994, the Company has been entirely focused on software
 exports. In 1999, the shares of PCSIL held by the Company and other
 non-operating assets were de-merged into other group companies and
 the
 Company emerged as a focused IT services company. Patni Computer
 Systems Limited is a separate entity from PCS Industries Limited,
 which
 is a group company.
 
 2004
 
 -Comes out with Initial Public Offering (IPO) of 18,724,000 equity
 shares in the price of Rs 230 per share for a face value of Rs 2
 each
 
 -Assessed at Level 5 of the Capability Maturity Model Integration
 (CMMI SE/SW version 1.1) for all its development centers in Mumbai &
 Navi Mumbai after a rigorous month-long SCAMPI assessment by KPMG,
 India
 
 -Inks MOU with the Birla Institute of Technology & Science [BITS],
 Pilani to offer educational programmes to Patni employees through the
 'BITS off-campus Distance Learning & Collaborative Programmes'
 scheme.
 
 2005
 
 -Patni Computer Systems wins awards for excellence in corporate
 performance.
 
 -Patni Computer Systems  appoints Loek Van Den Boog as director.
 
 -Patni Computer launches Defined BPO Service for Insurance Carriers.
 
 -Patni Computer launches Life New Business STP Solution.