Sriven Multitech Ltd.

YEAR                       EVENTS
 1995 - The Company was incorporated on 17th April as a Public Limited
 Company 
              and obtained Certificate of commencement of business on
 5th May.
 
            - The Company is setting up a project with the installed
 capacity for manufacturing
               Ball bearings and Taper Roller bearings.
 
            - The Company has entered with an agreement with M/s. KSA
 Consultants Pvt. Ltd. 
               for its Architectural & Civil Engineering.
 
            - The Company has entered into an lease agreement with
 Lessor, for its corporate 
               office under a interest free lease deposit of Rs 65
 lakhs.
 
            - The Company has entered into Memorandum of Understanding
 with the Registrars to 
               the Issue for attending to the complaints received in
 respect of Public Issue for a period
               of 6 months from the date of allotment.
 
            - The Authorised Capital of the company is Rs
 10,40,00,000/- divided into 1,04,00,000/-
               No. of Equity Shares of Rs 10/- each.
 
            - MOU dated 30th May, from Libord Finance Limited and from
 Blue Blends Finance 
               Limited stipulating the terms and conditions to act as
 Lead Managers to the Issue and 
               the acceptance thereof.
 
            - MOU dated 10th day of July from XL Softech Consultants
 Pvt. Ltd. stipulating the terms 
               and conditions to act as Registrars to the Issue.
 
            - Public Issue of 25,00,000 No. of Equity shares of Rs
 10/- each for cash at par aggregating
               to Rs 250 lacs to Indian Public.
 
 1997 - During the year the Company is still in the process of setting
 up the project and no 
              commercial activities have started.  Hence no profit and
 Loss Account has been prepared.
 
 1998 - The market conditions in the manufacturing sector of Bearings
 industry is very depressed.
 
           - The Company has not accepted any deposits from the public
 during the year under review 
              within the meaning of section 58A of the Companies act,
 1956 and the rules thereunder.
 
 1999 - Sriveni Multi-Tech Ltd (formerly known as Boss Industries
 Ltd), a Hyderabad-based IT 
              firm, has entered into an agreement with Raymond Karsan
 Associates (RKA) of USA, one
              of the leading human resources consultancy
 organisations, for outright purchase of
               their software, Searcher.
 
            - The board of directors has decided to re-issue 9,00,000
 forfeited equity shares of Rs. 10 
               each at a price of Rs. 170 per share to G. E.
 Investment Management, a registered FII in
               the country.
 
            - Sriven Infotech Ltd, a Hyderabad-based software company
 along with a group of 
               acquirers - Dr. Neeraj Multimedia Studio Pvt Ltd
 (DNMSPL) and Sriven Employees 
               Foundation Trust (SEFT), are in the process of
 acquiring Boss Industries Ltd (BIL).
 
            - The promoters of Sriven Infotech have decided to
 collaborate with Boss Industries 
               through a common platform leveraging BIL's software
 development capabilities.
 
 2000 - The Company has entered into an agreement with BSES Telecom
 Ltd.,
              Bangalore (a subsidiary of BSES Ltd., Mumbai) to float a
 joint venture company 
              with an equity particiable of 49:51 to support BSES
 Telecom Ltd., in the I.S.P. business.
 
            - Hyderabad-based Sriven Multi-Tech Ltd has tied up with
 Mumbai-based BSES 
              Telecom Ltd (BTL) to float a JV company called
 -Powersurfer Interactive Ltd, to set up
              a network for providing information on entertainment,
 e-commerce, tourism development
              Railways and banking with ATM in Mumbai.
 
           - The company has acquired Station X Studios LIC, a
 Hollywood-based 3D animation 
              studio.
 
           - The Company has acquired 11 lakh equity shares of Rs 10
 each of Color Chips (India) 
              Ltd. amounting to 10.89 per cent of the latter's paid-up
 equity , at an undisclosed price.
 
           - The Company will be entering into an exclusive fiveyear
 agreement with Emirates
              Telecommunication Corporation, UAE, to launch Gulfstream
 -- a multilingual multimedia
              portal in six months' time. 

2001
- The Company has received the Letter of
 Intent from Emirates Telecommunications
              Corporations. Sriven would be developing content for a
 e-mag on a revenue-sharing
              basis in the ratio of 40:60.