Starlite Components. Ltd.

STARLITE COMPONENTS LIMITED is a Company incorporated in the State of
 Maharashtra on 13th November, 1991.  Company received certificate for
 commencement of business on 
 18th March, 1992.  The Company proposes to manufacture 150.00 million
 pieces of GLS/FTL Filaments, 12.00 million pieces of Speciality
 Filaments and 90.00 million pieces of GLS/FTL Caps bases.  
 
 Company has takenover current Assets and running business from M/s
 Filaments and Filaments w.e.f.  01-04-92 vide Memorandum of
 Understanding dated 24-09-92 entered into
 with M/s Filaments and Filaments.  Company has also vide rental
 agreement dated 25-05-93 entered with M/s Starlite Lamp Components
 Private Limited has taken on rent land and
 building and plant and machineries and has agreed to takeover all
 these assets by amalgamating the Starlite Lamp Components Private
 Limited with the Company, in due course
 of time.  On completion of amalgamation formalities with the
 respective high courts takeover process shall be completed.  Cost of
 acquisition has been considered in the total cost of the project.
 
 The unit taken over by the Company had not faced any labour
 problems/litigation/defaults etc.  There was no closure of business
 due to any labour problem etc. in the unit taken over by the Company.