Daurala Organics Ltd.

The Company was incorporated as Gama Chemicals Private Limited on
 1.6.1990 at New Delhi and converted into a Public Limited Company
 pursuant to a Special Resolution dated 8.4.1991.  Fresh Certificate
 of Incorporation was obtained on 25.6.1991 consequent to change in
 the name of the Company from Gama Chemicals Limited to Daurala
 Organics Limited.  Having been incorporated as a Private Limited
 Company, the company is not required to obtain a Certificate of
 Commencement of Business.
 
 The Company has no subsidiaries.  However, DCM Shriram Industries
 Ltd. is the Holding Company of the Company from   1.4.1992.
 
 Promoters:
 
 DCM Shriram Industries Ltd., the promoter of the project, is one of
 the three new companies spun off as a result of the Scheme of
 Arrangement for reorganisation of DCM Ltd. The Scheme of Arrangement
 under Sections 391/394 of the Companies Act, 1956 was approved by the
 Hon'ble Delhi High Court on 16.4.1990 and became effective from
 1.4.1990.  As a result of the Scheme of Arrangement, Daurala Sugar
 Works, Shriram Rayons and Hindon River Mills units of the undivided
 DCM Ltd.  were vested in DCM Shriram Industries Ltd. The businesses
 of the three units are briefly as under:-
 Daurala Sugar Works - primarily a sugar factory with a crushing
 capacity of 4500 TPD also has a Chemical Division manufacturing
 Benzyl group of Chemicals.
 - Shriram Rayons - manufactures Rayon Tyre Yarn, Cord, Fabric, and
 Industrial chemicals.  The Rayon Tyre Cord and Fabric is primarily
 marketed to the tyre manufacturing companies.  It is also exporting
 part of its production.
 - Hindon River Mills - a composite Textile Mill manufactures Cotton,
 Synthetic Yarn and Fabric.  It is also exporting yarn.
 
 DCM Shriram Industries Ltd. is headed by Dr. Bansi Dhar as Chairman
 and Managing Director.  Prior to this assignement Dr. Bansi Dhar was
 the Chairman and Sr. Managing Director of undivided DCM Ltd.
 
 Dr.Bansi Dhar is also the Chairman of the Board of Directors of
 Daurala Organics Ltd.
 
 Foreign Technical Collaborators :
 
 Eka Nobel AB, Sweden developed the process of manufacture of DLPG
 from Benzaldehyde which has been transferred to the Company. Giral
 Ltd.,U.K. has provided to the Company the technology for manufacture
 of PG from DLPG and also arranged the patent transfer.
 
 Products
 It is proposed to manufacture 500 tpa of PG for which 400 tpa of
 Benzakdehyde and 408 tpa of DLPG will be produced at site as
 intermediate products.  PG is an import substitute drug intermediate
 used in the manufacture fof life saving antibiotics like Ampicillin
 and Cephalexin.