Company Background - Idea Cellular

DEA Cellular Limited, a part of the Aditya Birla Group and an India's leading Global System for Mobile communication (GSM) Mobile Services operator was began its journey in the year 1995 as in the name of Birla Communications Limited for providing GSM-based services in the Gujarat and Maharashtra Circles. Later the company has licenses to operate in all 22 Service Areas. Presently, operations exist in 11 Service Areas covering Delhi, Maharashtra, Goa, Gujarat, Andhra Pradesh, Madhya Pradesh, Chattisgarh, Uttaranchal, Haryana, UP-West, Himachal Pradesh, UP-East, Rajasthan and Kerala. With a customer base of over 24 million, IDEA Cellular's footprint currently covers approximately 60% of India's telecom population. The company's operational 11 Service Areas are broken up into Established and New Service Areas. The established service areas are Delhi, Andhra Pradesh, Gujarat and Maharashtra, Haryana, Kerala, Madhya Pradesh and Uttar Pradesh (West) and the New Service Areas are Uttar Pradesh (East), Rajasthan and Himachal Pradesh.

Changed its name to Birla AT&T Communications Limited followed by joint venture between Grasim Industries and AT&T Corporation in the year 1996. After a year, in 1997, commenced its operations in the Gujarat and Maharashtra. Migrated to revenues share license fee regime under New Telecommunications Policy ('NTP') Circles in the year 1999. During the year 2000, the company merged with Tata Cellular Limited, thereby acquired original license for the Andhra Pradesh Circle. IDEA acquired RPG Cellular Limited and consequently the license for the Madhya Pradesh (including Chattisgarh) Circle in the year 2001, and in the same year changed its name from Birla AT&T Communications Limited to Birla Tata AT&T Limited. Obtained license for providing GSM-based services in the Delhi Circle. Again in year later, in 2002, the company altered its name to Idea Cellular Limited and launched 'Idea' brand name and commenced its commercial operations in Delhi Circle. During the year, the company reached one million subscriber mark consecutively in the year 2003, reached two million subscriber mark.

During the year 2004, the company acquired Escotel Mobile Communications Limited (subsequently renamed as Idea Mobile Communications Limited), reached the four million subscriber mark and the first operator in India to commercially launched EDGE services 2005. Reached the five million subscriber mark in the year 2005 and IDEA won an Award for the 'Bill Flash' service at GSM Association Awards in Barcelona, Spain. The Company became a part of the Aditya Birla Group in the year 2006, subsequent to the TATA Group transferred its entire shareholding in the Company to the Aditya Birla Group. In the same year 2006, IDEA acquired Escorts Telecommunications Limited (subsequently renamed as Idea Telecommunications Limited). The Company reached the 10 million subscriber mark and also launched New Circles for obtain more and more customers. IDEA has extended its reach to 500 towns in Andhra Pradesh in August of the year 2006. Received Letter of Intent from the DoT for a new UAS License for both Mumbai and Bihar Circles. ABNL, the parent of Aditya Birla Telecom Limited, agreed to transfer its entire shareholding in Aditya Birla Telecom Limited to the Company for the consideration of Rs. 100 million. In 2007, the company won an award for the 'CARE' service in the 'Best Billing or Customer Care Solution' at the GSM Association Awards in Barcelona, Spain.

The Initial Public Offering aggregating to Rs. 28,187 million and the company listed in both Bombay Stock Exchange and the National Stock Exchange during the year 2007. IDEA merged seven of its subsidiaries and reached the twenty million subscriber mark in the same year 2007. As on February 2008, IDEA Cellular Ltd tied up with Southern Biotechnologies Ltd to bio-diesel for operating IDEA's gensets at all towers in the Andhra Pradesh region. The Company with Geodesic, an innovator in communication, collaboration and entertainment applications on mobile and Internet platforms jointly announced the launch of 'Idea Radio', a truly differentiated mobile music service for IDEA customers in the same year 2008.

Customer Service and Innovation are the drivers of this Cellular Brand. A brand known for their many firsts, IDEA is only the operator to launch General Packet Radio Service (GPRS) and EDGE in the country. IDEA has seen phenomenal growth since its inception, the company's footprint idea is to first achieve critical mass, then drill deep instead of spreading thin, however, does not increasing geographic footprint only, it also drills deep and successfully attempts to provide excellent network coverage in all its circles of operations.

Company Background - Essar Oil

Essar Oil Limited (EOL), a company incorporated as a Public Limited Company during the year 1989, engaged in preliminary activities relating to bidding for Oil & Gas fields as well as advising the Energy. EOL deals with its three segments of business, such as Exploration & production, the Refinery and Marketing - Retail Business. The Exploration and Production (E&P) business of the company has participating interests in several hydrocarbon blocks for exploration and production of Oil & Gas, namely in Mehsana in Gujarat, and Cachar in Assam (all in India). Essar's oil refinery at Vadinar in Jamnagar, Gujarat is ideally located in India's West Coast in close proximity to the crude rich Gulf States. Vadinar is an all-weather deep-draft natural port. The refinery is configured to produce Euro II and Euro III grades of Petrol and Diesel with capacity of 10.5 million tonnes per annum (MTPA) and also fully integrated with its own dedicated 120 MW co-generation power plant, port and terminal facilities. EOL is one of the few private companies permitted to market petroleum products in India. To serve retail customers under the brand 'Essar Oil', EOL has a modern, large countrywide distribution network of Retail Outlets.

The Exploration and Production Division was set up for the purpose of Oil & Gas exploration activities in the year 1990. The company became a wholly owned subsidiary of Essar Gujarat Limited in March of the year 1992 and entered into an MOU for operation and maintenance services for the Refinery with an affiliate company, Essar Refineries Limited. In the year 1993, EOL secured international drilling contracts against international competitive bidding; it was the first drilling Company in India to. EOL has signed a Memorandum of Understanding with UOP Inter Americana, USA (UOP), for providing major process technologies. Essar Gujarat Limited proposed to transfer the entire shareholding of Essar Oil Limited in the year 1994 to Essar Investments Limited. EOL has entered into an MOU with Essar Gulf for the supply of Crude Oil. In the year 1995 EOL has entered into a contract with Essar Gulf FZE (Essar Gulf), a company based in UAE for supply of imported equipment and also has entered into a contract with Essar Projects Limited a group company, for supply of indigenous Equipment and Materials and for construction and erection of all Equipment at site.

The Company entered into an MOU with Government owned public sector oil company, Indian Oil Corporation Limited for marketing and distribution of its products. The energy division has made entry into Qatar in the year 1996 with a three-year contract from Qatar General Petroleum Corporation for our deep Rig. A Marketing division has been set up to source, handle and market petroleum products for the group in line with the Government's policy from time to time. During the year 1997, Essar Oil has joined the National Securities Depository Limited (NSDL). Essar Oil Ltd has decided to hike its petroleum refinery capacity at Vadinar in Gujarat from nine million tonnes to 10.5 million tonnes. The Exploration and production (E&P) division of the company has also signed production sharing contracts for three more exploration blocks-two onshore blocks in Rajasthan and one offshore in the Mumbai offshore basin. Essar Oil Ltd and Reliance Petroleum Ltd have sought 13 per cent equity each in a proposed pipeline joint venture. During the year 1998, EOL has forged alliances with three foreign oil companies and Hindustan Oil Exploration Company (HOEC) for joint exploration activities in the country.

EOL has initiated a marketing agreement with the public sector Indian Oil Corporation (IOC), according to which, 50 per cent of the offtake from the refinery would be through IOC, and the balance through BPCL. Essar Oil and Bharat Petroleum Corporation (BPCL) have hired Price Waterhouse Coopers in the year 1999 and SBI Caps to independently evaluate the Ruias-promoted refinery and expedite the process of the latter buying an equity stake in the company. EOL proposed to hive off its drilling division into a separate entity in the year 2000 activated as the same. During the year 2002, the company received the authorisation from government to sell petrol and diesel. Negotiates with PSU refineries to source products for its entry into retail marketing of petro products. In 2003, the company sold its Energy Division to Bin Jabr group Ltd, an oil and gas service provider based in Abu Dhabi with total consideration of $0.6m. In the same year EOL started marketing imported products. The first consignment of imported HSD already arrived. Sets up its first retail outlet at Devrukh in Ratnagiri District of Maharashtra and divided its Petromarketing Business into two entities called 'retail' and 'institutional'. The company has bagged a tender for diesel supplies to the Bangalore Metropolitan Transport Corporation (BMTC), EOL and Castrol India Ltd signed an agreement for sale of Castrol lubricants through Essar Oil fuel outlets throughout the country during the year 2004.

In the year 2005, the Company had entered into an agreement with the Myanmar Government for exploration and production of two oil blocks there. The company had resumed work on the refinery in March 2005. Essar Oil is all set to commission its USD 2.2-billion 10.5-million-tonne (mt) refinery at Vadinar in Gujarat in the year 2006. EOL has started supplying Liquefied Petroleum Gas (LPG) and Kerosene during the year 2007 to PSUs for sale through the Public Distribution System. The Company has begun the implementation of the up-gradation of base refinery by addition of the following units i.e. Delayed Coker, VGO Hydrotreater, second Diesel Hydrotreater (High Pressure), ATF Hydrotreater and three small units Amine Regeneration Unit, Sour Water Stripper Unit and ATF Merox Units. This will enable the Refinery to process very heavy and sour crudes to produce products meeting exacting current international standards. In petroleum terminology this would translate into increasing the 'Nelson's complexity index from 6 to 12'. Simultaneously, the Company would also be de-bottlenecking the primary units (CDU/VDU), which will increase the refining capacity to 16 MMTPA.

World renowned Technology providers and consultants, UOP have completed the configuration study with the objective of processing heavy, sour crudes to produce international quality petroleum products while expanding minimum energy and protecting and preserving our environment. The Company has already executed contracts with key process licensors (UOP, Jacobs and ABB) who have made significant strides in completing the Basic Engineering work for these Units. Contracts have also been executed for Detailed Engineering, Procurement of Equipment and Construction of the Refinery, and the Contractors have received firm bids for equipment with long lead delivery periods. The cost of the proposed expansion and up-gradation of the company is estimated at USD1.2 billion. The Company has targeted to complete the expansion project by December 2009.

Company Background - Reliance Power

The company was incorporated on 17th January 1995 as Bawana Power Pvt Ltd and Subsequently; the company name was changed to Reliance Delhi Power Pvt Ltd. In January 2004, the company name was changed to Reliance EGen Pvt Ltd and further company name was changed to Reliance Energy Generation Pvt Ltd. In July 2007, the company name was changed to Reliance Power Ltd.

The company was part of the Reliance ADA group and established to develop, construct and operate power projects domestically and internationally. The prevailing and expected electricity demand and supply imbalance in India presents significant opportunities in the power generation sector. To capitalize on this opportunity, the company has currently developing 13 medium and large sized power projects with a combined planned installed capacity of 28,200 MW, one of the largest portfolios of power generation assets under development in India.

The companies 13 power projects are planned to be diverse in geographic location, fuel type, fuel source and off-take, and each project is planned to be strategically located near an available fuel supply or load center. The identified project sites are located in western India (12,220 MW), northern India (9,080 MW) northeastern India (2,900 MW) and southern India (4,000 MW). They include seven coal-fired projects (14,620 MW) to be fueled by reserves from captive mines and supplies from India and abroad, two gas-fired projects (10,280 MW) to be fueled primarily by reserves from the Krishna Godavari Basin (the "KG Basin") off the east coast of India, and four hydroelectric projects (3,300 MW), three of them in Arunachal Pradesh and one in Uttarakhand. The company has intend to sell the power generated by these projects under a combination of long-term and short-term Power Purchase Agreements to state-owned and private distribution companies and industrial consumers.


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Company Background - BHEL

BHEL, is the largest engineering and manufacturing enterprise of its kind in India and it was incorporated in the year of 1964. It is one of the leading international companies in the field of power equipment manufacture and engaged in power generation, transmission, industry (transportation, renewable energy etc) and Overseas Business. BHEL is a ISO 9000, ISO 9001-2000, ISO 14001 and also OHSAS-18001 certified public sector corporate situated in New Delhi. BHEL has over the years established its references in 68 countries of the world spanning across all the six-inhabited continents. In 1991-92, it has divested a part of its equity shares to public and financial institutions. At present the government of India holds 67.72% in the total equity capital of the company. In India alone BHEL have 14 manufacturing units, four power sector regional offices, eight service centers and 15 business offices for manufactures over 180 products under 30 major product groups and enable to provide high level of quality & reliability of its products at prompt time. The company's major clients are State Electricity Boards, NTPC, World Bank aided projects, the Railways and a host of private companies in domestic, in case of overseas company's products are exported mainly to the middle-east and the far-east countries. BHEL has two joint venture companies, BHEL-GE Gas Turbine services Ltd with GE,USA for repair & servicing of GE designed Gas Turbines and Power Plant Performance Improvement Ltd with Siemens AG, Germany for plant Performance improvement of old fossil fuel power plants.

BHEL received MOU Award for Excellence in Performance for 2004-05. BHEL has won International Asia Pacific Quality Award (IAPQA 2005) from the International Asia Pacific Quality Organisation (APQO) through its Ranipet Unit. It is the first engineering & Manufacturing organization as well as the first PSU in the country to received this award. During the year 2005-06 BHEL got FICCI Award for environmental conservation and pollution control, ICWAI National Award for Excellence in Cost Management-2005. In 2006-07 the company conferred again the same ICWAI National Award for Excellence in Cost Management-2006. BHEL qualified for the Business Standard Star Public Sector Company Award-2006 and also the CII Exim Award, BHEL is the first public sector company received the CII Exim award.

The company opened a new line of business in the form of Gas Insulated Substations (GIS) in April 2007. The Corporate R&D department of BHEL has successfully developed an indigenous GIS. It has also bagged the first letter of intent from the Andhra Pradesh Transmission Corporation (APTransco), for installing the first unit in the State. As on May 2007 BHEL signed a memorandum of understanding with Toshiba of Japan for know-how in higher horsepower locomotives, it may help the company to shift from the production locomotives capacity 6,000 hp to 10,000-hp range. In August of the same year Uttar Pradesh government and BHEL came to an agreement for setting a 1,600 Mw thermal power project at Obra. The project has divided into two units of 800 Mw each. The cost of the project is estimated to be Rs 6,400 crore or Rs 4 crore per Mw. The deal covered 50 per cent equity participation by the BHEL and the rest by state government of UP. DVC has already awarded turnkey contracts for setting up Koderma and Durgapur Steel thermal power stations of 1000 mw each to BHEL worth of Rs 6,500 crore. In 2007 Sept. 10th NTPC Ltd, the country's largest power generator and equipment major BHEL, have signed a memorandum of understanding to form a joint venture company to carry out engineering, procurement and construction (EPC) activities in the power sector on "mutually beneficial terms."

The company completed Phase I of its latest modernisation drive in December 2007, with an investment of Rs 190 crore, to take its manufacturing capacity to 10,000 MW from 6,000 MW a year. Phase II in 2008 would add about 1.25 million sq ft of shop floor and associated office space, spread over about 130 acres in the 3,000-acre of BHEL campus. On-site fabrication work is under way to erect additional shop floors and 75 different types of machines would be install, after this expansion the company's manufacturing capacity would go up to 15,000 MW equivalent of power plant equipment a year and may to be in a position to supply over 75,000 MW equivalent of plant equipment over a five-year period. From April 2008, BHEL's projects can monitored online, the implementation of a new Web-based project monitoring system covered this and it would enable to get a real-time status on project schedules. BHEL firmly establishing itself in target export markets, positioning of BHEL as a regular EPC contractor in the global market and exploring various opportunities foe setting up overseas joint ventures etc. The company was focused on addition of facilities for various products in manufacturing units and for construction of tools and equipment for erection and commissioning services at project sites.

Company Background - BEML

BEML was incorporated under the Government of India administrative control by the Ministry of defence in 1964. In 1992, Government dis-invested 25% of its shareholding over a period of two years. Presently 40% of its equity has been dis-invested to financial institutions and public.It is the largest manufacturer of earth moving equipment in India and the second-largest in Asia. The company commands 70% market shares in domestic earth mover industry.

The company's unit at Kolar Gold Field Mysore and Bangalore incorporate hi-tech manufacturing facilities with soptisticated CNC machines,Arc-welding robots and FMS.

BEML manufactures a wide variety of equipment like heavy earth movers, rail coaches, military tanks, heavy-duty trucks, trailers, and high-powered diesel engines. Its products find application in mining, construction, power, irrigation, fertilisers, steel, defence and the railways.

BEML made its maiden public offer of Rs 117 cr in Dec.'94 for 60 lac 12.50% PCDs of Rs 195 each. The main objective of the issue was to part-finance the backward integration of an engine project by installing a flexible manufacturing system required for the manufacture of engines; and for expanding the capacity for the manufacture of hydraulic cylinders, which are critical components in the manufacture of earthmoving equipment. The estimated cost of the project was Rs 50 cr. Vignyan Industries, a subsidiary of the company, manufactures casting to meet the requirements of BEML.

During 1999-2000, the company has entered into strategic alliances with multinational companies like M/s Steelfields, UK, Kawasaki, Japan, Europactor, Spain, Crossmobil, Germany and Hartl Crushtek, UK , which will improve growth opportunities.

In 2000-2001, BEML tied up with Technology Information Forecasting & Assessment Council (TIFAC) for manufacturing specialised equipment to be used in disaster management and is planning to productionise them for deployment in hazardous situations.

In 2003-2004, the company has entered the metro Railway business with the manufacture and supply of hi-tech stainless steel metro coaches to the Delhi Metro Rail Corporation. BEML has expanding production activities in the Defence and Railway sectors and acquired over 1,100 acres of land and two workshops on lease basis from now-defunct public sector undertaking Bharat Gold Mines Ltd (BGML) in Kolar Gold Fields in 2004. During the same year, the company has opened a new Railway Fabrication Unit at Kolar Gold Field Complex.

The company has undergone organizational restructuring to improve over competitiveness in the global market and boost the revenues and profitability. Consequent to this, the company's operations will now be run as three-business groups viz. Mining & Construction, Defence and Railway & Metro Business. The company has also diversified into new business areas by opening two new divisions, the Technology Division and Trading Division on 12th April 2006.

With effect from 29th August 2006, the company has conferred `Mini-Ratna (Category 1)' status by the ministry of Defence. The status has been given recognizing position in the industry, consistent performance, growing profitability and rapid absorption of changing technologies. With this status, the company has got enhanced powers from the Ministry of Defence.

Company Background - Dr Reddy's Labs

Dr. Reddy's Laboratories was came to on track in the year 1984 in Hyderabad, it was established by Dr Anji Reddy with an initial capital outlay of Rs.25 lakhs. It is a global pharmaceutical company with a presence in more than 100 countries and its doing well with wholly-owned subsidiaries in the US, UK, Russia, Germany and Brazil; joint ventures in China, South Africa and Australia; representative offices in 16 countries; and third-party distribution set ups in 21 countries. The company proven research capabilities and vertically integrated with a presence across the pharmaceutical value chain and it conducts research in the areas of diabetes, obesity, cardiovascular diseases, anti-infectives and inflammation. The Indian based company produces finished dosage forms, active pharmaceutical ingredients and biotechnology products which are marketed globally, with focus on India, US, Europe and Russia.

The company made its beginning with the manufacture of Active Pharmaceutical Ingredients and Intermediates (API) in 1984 and commenced operations with a single drug in a 60-tonne facility near Hyderabad, India. In 1986, the first consignment of that drug, Methyldopa, was shipped to West Germany. In 1988 the company acquired Benzex Laboratories Pvt. Limited to expand its Bulk Actives business and in the next year it acquired American Remedies Limited, a pharmaceutical company based in India. In the year 1993 the company established Dr. Reddy's Research Foundation and started its Drug Discovery program. The company has membership in WTO since April 1994 and in the same year 1994 the company Makes a GDR issue of USD 48 million.

The Company's Custom Pharmaceutical Services (CPS) business was formed in the year 2001, and in 2002 conducts its first overseas acquisition - BMS Laboratories Limited and Meridian Healthcare in UK, the company received ASIASTAR Award for Packaging Excellence 2002 for Mintop Forte - Customer Convenience Pack by Asian Packaging Federation in the year. Announced a 15-year exclusive product development and marketing agreement for OTC drugs with Leiner Health Products in the US by the company in the year 2003 and launched Ibuprofen, first generic product to be marketed under the "Dr. Reddy's" label in the US and it conferred WORLDSTAR Award for Packaging Excellence 2003 For Omez capsules pack with Anti-Counterfeiting Features. The acquisition of Trigenesis gives the company to access drug delivery technology platforms in the year 2004. Dr. Reddy's Lab increased focus point in CPS business after the acquisition of Roche's API manufacturing unit, Mexico in the year 2005 and in the same year the company acquired Roche's API Business at the state-of-the-art manufacturing site in Mexico with a total investment of USD 59 million. Announced the formation of Perlecan Pharma: India's First Integrated Drug Development Company and again announced India's first major co-development and commercialization deal for it's molecule Balaglitazone (DRF 2593), with Rheoscience. It made unique partnership for the commercialization of ANDAs with ICICI Venture, the Best Management Award 2005 by Labour Department, Govt. of Andhra Pradesh, India came to the company. In the year 2006 the company acquired Betapharm- the fourth-largest generics company in Germany for a total enterprise value of ? 480 million and received Finance Asia Achievement Awards 2006 for Best India Deal - acquisition of Betapharm. Dr. Reddy's Lab becomes No.1 pharmaceutical company in India in turnover and profitability as on 2007.

The appreciation and recognition is a role to boost, as part the company has received plenty of awards and applications already, continued that, the company got Pharma Excellence Awards 2006-07 under the category of Sustained Growth by The Indian Express, Dun & Bradstreet American Express in Corporate Awards 2007, Best Corporate Social Responsibility Initiative 2007 by BSE - India and Amity Leadership Award for Best Practices in HR in Pharmaceutical Sector. 4th HR Summit '08.

Dr Reddy's Laboratories has entered into a settlement agreement with Novartis Pharma AG on January 2008, which involves a stipulation of dismissal of the lawsuits in the United States relating to the Abbreviated New Drug Applications filed by the company for a generic version of rivastigmine tartrate capsules sold under the trade-name Exelon and in same month and year the company has launched Supanac (Diclofenac potassium immediate release 50 mg tablets) in India, increasing its offering in the Rs 2700 crores in NSAID market. Supanac is in-licensed from Applied Pharma Research (APR), Switzerland and is used for Acute Pain management. On February, 2008 the company has entered into an agreement with SkyePharma PLC to undertake a feasibility study of a product utilizing two of SkyePharma's proprietary drug delivery systems. Dr. Reddy's Laboratories announced that it has entered into a definitive agreement with The Dow Chemical Company to acquire a portion of Dowpharma Small Molecules business associated with its United Kingdom sites in Mirfield and Cambridge on 1st April 2008. In the same month of same year Dr.Reddy's Lab and 7TM Pharma has announced the signing of drug discovery collaboration on selected drug targets in the area of metabolic disorders. Under the terms of the agreement, Dr. Reddy's and 7TM Pharma will collaborate to identify clinical candidates for pre-selected targets. Both the parties will jointly develop these candidates from the pre-clinical stage up to Phase IIa (proof-of-concept). As on April 2008, the company has acquired Jet Generici Srl, a company engaged in the sale of generic finished dosages in Italy. The deal has been completed via Dr Reddy's Italian subsidiary.

To help people lead healthier lives by delivering affordable and accessible medication to all parts of the world and discovering, developing and commercializing innovative medicines that satisfy unmet medical needs are the two parallel objectives of Dr. Reddy's Laboratories Limited, and it is sustain path of the company to survive.

Company Background - SAIL

Incorporated in 1973, the Steel Authority of India (SAIL) is a giant among the steel majors in India. It is the largest steel conglomerate in the country and the world's ninth-largest steelmaker. It manages and operates five integrated steel plants at Bhilai, Madhya Pradesh; Bokaro, Bihar; Durgapur, West Bengal; Rourkela, Orissa; and Burnpur, West Bengal. It also has four units for special and alloy steels and ferro alloys at Durgapur, West Bengal; Salem, Tamilnadu; Chandrapur, Maharashtra; and Bhadravati, Karnataka.

SAIL operates nine iron ore, five limestone, three dolomite and three coal mines besides generating 700 MW of captive power. The Central Marketing Organisation, with its headquaters at Calcutta, monitors its domestic market through an expanding network of stockyards, dockyards, branch sales offices and consignment agents while the International Trade Division looks after its export of world-class steel to as many as 70 countries across the globe, by establishing close liaison with buyers abroad.

The company is the only producer of extra-wide (up to 3200 mm) and heavy plates, catering to the needs of the construction, automobile, shipbuilding, engineering and other sectors.

The subsidiaries of SAIL are The Indian Iron & Steel Company Ltd and Maharashtra Elektrosmelt Ltd. Bhilai Oxygen Ltd, which was one of the subsidiary company was wound-up by the order of dated 27th May 2005 of Hon'ble High Court of Delhi.

SAIL's plants and units have received ISO 9002/1 certifications and are well-equipped with the state-of-the-art technology to meet advanced needs and applications. ISO 9002-certified stainless steel is exported to several developed countries.

The Govt of India has approved the Financial and Business Restructuring of SAIL involving waiving of loans advanced to it from Steel Dvpt Fund to a value of Rs.5073 cr and Rs.381 cr from Govt of India; Provision of Govt guarantees with 50% interest subsidy for loan and interest thereon on Rs.1500 cr to be raised by SAIL from the market to finance reduction in manpower through voluntary retirement scheme; Provision of Govt guarantee for loan and interest thereon of Rs.1500 cr (incl.Rs.500 cr already agreed) to be raised by SAIL from the market primarily for meeting repayment obligation on past loans during 1999-2000. To initiate the process of divestment of the following non-core assets into a joint venture with protecting jobs of the existing employees SAIL has decided to sell, lease or dispose of by way of divesting the following undertakings of the company either through joint venture arrangement or otherwise. Captive Power Plants at Rourkela, Durgapur and Bokaro; Oxygen Plant-2 of Bhilai Steel Plant; Salem Steel Plant, Salem; Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; Rourkela Fertilizer Plant, Rourkela.

For Salem Steel Plant of SAIL the Company has sought expression of interest from interested parties for setting up of stainless steel melting,refining and casting facilities and also option for interest in Salem Steel Plant itself along with the above facilities.

The company has signed a joint venture agreement with Tata Iron & Steel and Kalyani Steel for the creation of a company to manage their steel e-marketplace, metaljunction.com.

The company tied-up with the National Building Construction Corporation (NBCC) for formation ofa consortium to help reconstruction activity in quake-hit Gujarat. The combine will initially concentrate on building low-cost, quake-hit and cyclone-resistant dwelling units suitable for rural Gujarat.

The company has completed the Modernisation Programme at Bhilai Steel Plant and also the Upgradation of Durgapur Steel Plant has also been completed during 2001-02. At Bokaro Steel Plant the equipment work is in progress and the Furnace was commissioned in 2002-03. The company incurred a capital expenditure of Rs.241 crores. The Company has entered into an agreement with Corus Consulting Ltd UK for Long Rail facility and the UK company will provide a technical back up support for SAIL.

During 2004-05 the company projects worth Rs.3000 crore at various stages of implementation and approval in the company. Some of the major ongoing schemes are Rebuilding of Coke Oven Battery-5, Upgradation of Blast Furnace-7 and Revamping of B-Strand of Wire Rod Mill at Bhilai Steel Plant: Bloom Caster with Associated facilities at Durgapur Steel Plant: Rebuilding of Coke Oven Battery-1, Capital Repair of BF-4 and Upgradation of ERW Pipe Plant at Rourkela Steel Plant: Rebuilding of Coke Oven Battery-5, Revamping/modification of Mae West Block System and housing machining in Finishing Stands F6-F12 at Bokaro Steel Plant. Some of the projects under approval are Upgradation of Slab Caster, RH Degassing and Ladle Furnace, Modernisation of Sinter Plant-II & Desulphurisation Unit in SMS-II at Bhilai Steel Plant: Coal Dust Injection in Blast Furnace(3&4) at Durgapur Steel Plant: Installation of Hot Metal Desulphurisation Unit at SMS-II at Rourkela Steel Plant: Upgradation of Tandem Mill & Pickling Line in cold Rolling Mill (CRM) and Installation of Coal Dust Injection in Blast Furnace (2 & 3).

Company Background - TV18

Television Eighteen (TV18), India's premier business and consumer news broadcaster and leading media content provider, was incorporated on 24th Sep 1993 as Television Eighteen India Private Ltd. It Became a public limited Company in 2nd November 1994 and Subsequently Renamed as Television Eighteen India on 2nd Jan 1995. Over the last decade, the Company has provided prime time television content to almost all leading satellite channels in India including BBC, Star Plus, Sony Entertainment Television, Zee, MTV and Discovery. Raghav Bahl and Sanjay Ray Chaudhury are the promoters of the Company.

CNBC TV18 is India's leading business news channel. The channel is a joint venture between CNBC Asia-Pacific and Television Eighteen India Ltd., with TV18 holding 90 percent of the stake.

TV18 owns studios in New Delhi and Mumbai and has a news gathering network of over 200 journalists across the country.

At Present the TV18 India Ltd five Subsidiaries namely Television Eighteen Mauritus Ltd, e-eighteen.com Ltd, I.News.com, Eighteen Entertainment India Ltd, Money Control Dot Com India Ltd and SRH Broadcast News Holdings pvt Ltd.

In 1996 the Company set up a wholly owned Subsidiary in Mauritius i.e's Television Eighteen Mauritius Ltd on receiving requisite consent from the Department of company affairs and reserve Bank of India. It also entered in to joint venture through its subsidiary to launch Asia Business News India (ABNi), the countries first dedicated 24-hour business news information channel.

In 1997, this venture suffered a major setback as ABNi, which was providing around 50% of the Companies revenue closed down following the merger of its parent, ABN with CNBC Asia, but regained its relationship the CNBC in 2003. CNBC-TV18 will now jointly brand a channel which was operated by TV18s Subsidiary and TV18 shall now own nearly 90% stake in the Channel and balance held by the CNBC Asia Pacific

In Dec 1999, the company came out with a public issue of 29,36,000 equity shares of Rs.10/- each at a premium of Rs.170/- per share. In march 2000 it incorporated e-eighteen.com pvt ltd, a subsidiary to house its internal interests. The subsidiary has acquired Moneycontrol Dot Com Private Ltd, the Company owning the highly successful financial portal, Money control.com

During 2001-2002, the entertainment part of the Companies business was hived off to 100% subsidiary viz Eighteen Entertainment India Ltd.

During 2002-2003 the company successfully restructured its relationship with CNBC in accordance with the new government guidelines for new channels. Tv18 previously held a 49% stake in the CNBC India Joint Venture in Mauritius. Under the new Guidelines CNBC-TV18 is now a jointly branded channel to be operated by TV18's subsidiary and TV18 shall now own a near 90% stake in the Channel company and the balance 10% being held by CNBC Asia Pacific. TV18 has also prematurely terminated its ad sales representation relationship with SET (Sony Entertainment Television) in April 2002 and has set up a dedicated inhouse marketing and sales team for the channel.

In 2004 A Large 40,000 Sq Ft plus facility was set up in Mumbai with state-of-the-art broadcast equipment and studios.

During 2005 the Company entered in to General News Space. To Facilite this ambitious expansion, the Company started work on a 60,000 Sq ft studio in Noida, which will be operational in the fourth quarter of the year. Turner International (Turner) and Global Broadcast News (GBN), a TV18 Group Company, announced a partnership to launch a co-branded, 24-hour, English-language general news channel in India. Renowned TV journalist Rajdeep Sardesai spearheads GBN's foray into the general news space as the Editor-in-Chief of the service. The co-branded service, CNN-IBN, will build upon the strong foundation of TV18's newsgathering experience and infrastructure in India, bolstered by CNN's eminent and extensive global news network.

Under the terms of the agreement, GBN's proposed channel - formerly known as India Broadcast News (IBN) and now co-branded as CNN-IBN - will have access to CNN's trademark live breaking news as well as key feature programmes. This unique alliance will, for the first time ever, enable Indian viewers to view local news as well as relevant global news from CNN, the world's news leader, on the same platform. The new channel will focus on providing robust and high quality news from every corner of India with a complete commitment to the needs and aspirations of the Indian viewer, while CNN International will continue to deliver global news to Indian viewers.

Headquartered in New Delhi, the channel will be supported by over 20 bureaus nationwide, along with a team of experienced newspersons and production staff, backed by TVl8's state-of-the-art broadcast infrastructure and newsgathering technology.

GBN, a TV18 Group Company, is a 74:26 joint venture between the TV18 Group and professionals - Rajdeep Sardesai, Sameer Manchanda and Haresh Chawla. GBN's charter is to launch channels in the general news space under the editorial leadership of Sardesai, one of India's most renowned TV journalists.

The company during 2005-2006, acquired a 50% stake in Channel 7 - a general news channel in Hindi, owned by Dainik Jagran Groupin April 2006. TV 18 group has recently revamped the editorial team and relaunched the channel with a new international look in June 2006. The company has done a JV with Asia's leading e-recruitment provider-jobstreet.com for a job search portal and launched yatra.in- India's first integrated online travel services company founded by TV18 and Norwest Venture Partners. During the year the company also launched a subscription based investment advisiory portal called poweryourtrade.com which has got over 75,000 paid subscribers

Company Background - Pantaloon India

Pantaloon Retail (India) Ltd (PRIL), previously known as Pantaloon Fashions (India) Ltd (PFIL) is India's leading retail company with presence across food, fashion, home solutions and consumer electronics, books and music, health, wellness and beauty, general merchandise, communication products, e-tailing and Liesure & Entertainment.

Pantaloon Retail (India) Ltd, Headquartered in Mumbai (Bombay), operates through 3.5 million square feet of retail space, has over 100+ stores and 30+ cities in India. The company owns and manages multiple retail formats catering to a wide cross-section of the Indian society and its width and depth of merchandise helps it capture almost the entire consumption basket of the Indian consumer.

Its products are marketed under the brand name Pantaloon and Bare Necessities through a network of over 300 dealers spanning the metro and class-I cities in the country. PRIL also markets its products through a network of exclusive retail shops and Pantaloon Connections in the major metropolitan cities.

Founded in 1987, Pantaloon Retail forayed into modern retail in 1997 with the opening up of a chain of department stores, Pantaloons. In 2001, it launched Big Bazaar, a hypermarket chain, followed by Food Bazaar, a supermarket chain. It went on to launch Central, a first of its kind, seamless mall located in the heart of major Indian cities. Some of it's other formats include, Collection I (home improvement products), E-Zone (consumer electronics), Depot (books, music, gifts and stationaries), aLL (fashion apparel for plus-size individuals), Shoe Factory (footwear) and Blue Sky (fashion accessories). It has recently launched its etailing venture, futurebazaar.com.

Some of the companies subsidiaries include Home Solutions Retail India Ltd, Pantaloon Food Product (India) Ltd, Footmart Retail (India) Ltd, Pan Indian Restaurants Ltd, Future Media (India) Ltd, Future Logistic Solutions Limited, CIG Infrastructure Pvt Ltd, KB Infin Pvt Ltd, Kshitij Investment and Advisory Co Ltd, and ConvergeM Retail (India) Ltd, which leads the group's foray into home improvement, e-tailing and communication products, respectively. Other group companies include Pantaloon Industries Ltd, Galaxy Entertainment and Indus League Clothing. The company has also entered joint venture agreements with a number of companies including ETAM group, Gini & Jony, Liberty Shoes and Planet Retail, a company that owns the franchisee of international brands like Marks & Spencer, Debenhams and Guess in India.

A new Trouser manufacturing plant at MIDC Tarapur at a installed capacity of 1200 Trousers per day was commissioned on early 2001.

The company has acquired the trademark and exclusive licensing rights for apparel brand Norules in India,from US based Norules Inc in 2003. During 2004,the comapny has entered into strategic alliance with Arvind Brands Ltd.

During 2005-2006, the company, has expanded its capacity of stiching machines from 300 Nos to 373 Nos to produce Apparels.

The company signed a MOU with Talwalkars Better Value Fitness Pvt to form a 50:50 Joint Venture company for retailing of fitness/wellness related products and for the rendering of health and fitness related services. The company also signed a MOU with Manipal Health Systems Pvt Ltd to form a 50-50 Joint Venture company for rendering healthcare related services and sale of healthcare products.

The company has entered in to a strategic alliance agreement with Ruchi Soya Industries Limited for sale of refined edible oil in the stores of the Company.

The Company has on July 31, 2006 signed a Memorandum of Understanding (MOU) with Blue Foods Private Limited to form a 50-50 Joint Venture Company for setting up food courts and speciality restaurants across the country.

During 2005-2006, the company transferred its shareholding in its subsidiaries i.e, Ambit Investment Advisory company Ltd and Kshitij Investment Advisory company Ltd to its subsidiary KB Infin Pvt Ltd.

During 2005-2006, the company also allotted on rights basis 44,78,720 equity shares of Rs.10/- each at premium of Rs.490/- per share aggregating to Rs.22393.60 lacs. The company also allotted 4,08,165 equity shares of Rs.10/- each on preferential basis.

The company has expansion plan to increase the retail space under control substantially. The total retail space at the end of 2005-06 stood at over 2.75 million square feet. The company has planned to roll out further retail space of 2.50 million square feet in the 2006-07 under various retailing formats it operates.

Company Background - HDFC Bank

HDFC Bank, a private sector bank was incorporated in the year of 1994 by Housing Development Finance Corporation Limited (HDFC), India's premier housing finance company. HDFC was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. The Bank commenced its operations as a Scheduled Commercial Bank in January 1995 with the help of RBI's liberalisation. HDFC Bank deals with three key business segments - Wholesale Banking Services, Retail Banking Services, Treasury. It has entered the banking consortia of over 50 corporates for providing working capital finance, trade services, corporate finance and merchant banking. It is also providing sophisticated product structures, sound advice and fine pricing mainly in areas of foreign exchange and derivatives, money markets and debt trading and equity research through its state-of-the-art dealing room.

Notable event was happened in the history of bank as well as Indian banking sector in Feb. 2000, the Times Bank was amalgamated with HDFC bank. This was an important milestone, being the first merger of two private sector banks. HDFC Bank was the first Bank to launch an International Debit Card in association with VISA (Visa Electron). The Bank launched its Credit Card business in 2001. In the same year HDFC Bank has became the first private sector bank to be authorised by the Central Board of Direct Taxes (CBDT) as well as the RBI to accept direct taxes. The taxes accepted at specified branches of the bank. Also it has announced a strategic tie-up with a Bangalore-based business solutions software developer Tally Solutions Pvt (TSPL) for developing and offering products and services facilitating on-line accounting and banking services to SMEs (Small and Medium Enterprises). In 2001-02 the bank was listed on the New York Stock Exchange in the form of ADS and bank had alliance with LIC for provide online payment of insurance premium to the customers.

Bank received plenty of awards to its credit, in the year 2003 bank received "Best Local Bank in India" by Finance Asia, "Best Domestic Bank in India Region" in The Asset Triple A Country Awards 2003. Apart from this, 'Best Bank in the Private Sector' for the year 2003 in the Outlook Express Awards, 'Best New Private Sector Bank 2003' by the Financial Express in the FE-Ernst & Young Best Bank's survey 2003. It was also figured in the 'Best Under a Billion, 200 Best Small Companies for 2003' by Forbes Global and for use of information technology the bank was awarded with 'Best IT user in Banking' at the IT User Awards 2003 conferred by Economictimes.com & Nasscom. In the year of 2004 to 2005, "Best Domestic Commercial Bank" & "Best Cash Management Bank"- India- Asiamoney Awards for Corporate Excellence of 2004-05, "Best Bank" - India - Finance Asia, "Company of the Year "- The Economic Times Awards for Corporate Excellence 2004-05, "Best Domestic Bank in India" - The Asset Triple A Country Awards 2005, "Most Customer Responsive Company- Banking and Financial Services" - The Economic Times - Avaya Global Connect Customer Responsiveness Awards 2005. During the year of 2006-07 also bank received number of awards, The Asian Banker Achievement Award, Best Listed Bank of India in 2006 by Business World, Euromoney Award as Best Bank in India, One of Asia Pacific's Best 50 Companies in 2006 by Forbes Magazine, Asiamoney Award for Best Local Cash Management in Large and Medium segments, other than above bank received " Best Bank in India " award continuously from the year 2003 to 2007 conferred by the magazine Business Today. The Financial Express rated 1st in India's Best Banks 2007 under New Private Sector Bank under along with Axis Bank.

As on 2007 May, The Reserve Bank of India has allowed HDFC Bank to start a non banking finance company. The NBFC, to be set up by HDFC Bank as a wholly owned subsidiary and will undertake retail operations such as auto, personal loans etc. On June 2nd of 2007 HDFC Bank has opened 19 branches in a day in Delhi and the National Capital Region (NCR), outdoing its own record of 14 branches in a day 2005. As part and apart from the regular banking activity, HDFC Bank and The Institute for Technology and Management (ITM), Chennai gone under Memorandum of Understanding to promote co-operation advancement of academic and business exchanges between the two.

In credit card industry alone, HDFC grown more than 10 times within the 3 years from 2005 to 2007. The bank have over 10 million customers and 1605 ATMS. The number of branches accounted 684 in 316 towns and cities as of 2007 and the bank want to survive as " a World Class Indian Bank ", benchmarking against international standards and best practices in terms of product offering, technology, service levels, risk management.

Company Background - MTNL

Incorporated in 1986 by merging the Bombay and Delhi telephone networks, Mahanagar Telphone Nigam (MTNL) is into telecom services of international standards.

The company enjoys a virtual monopoly in telecom services in these two cities, (Bombay & Delhi). It depends upon the Department of Telecommunications (DoT) for calls made outside the respective circles, for which it pays licence fees.

MTNL has gone on a computerisation spree in areas like directory enquiry, billing, waiting list enquiry, material management, etc. During the year 1996-97, in order to increase customers satisfaction it has commissioned number of facalities like round the clock operatorless Computerised 'Change Number Announcement Service' based on Interactive voice response system popularly known as 195 Seva, Introduction of On Line Registration of new telephone connections, Fault Repair System, popularly known as FRS.

MTNL launched its cellular service branded Dolphin in Bombay on Feb.'01. It has also started its cellular services in Delhi. Recently the company has implemented its expansion plan of call center for customer care services for Dolphin Mobile customers.

MTNL got its American Depository Receipts (ADRs) listed on the New YorkStock Exchange on 8th November, 2001. During 2001-02 the company has invested Rs.1,675 million as equity in the United Telecommunications Limited, a joint venture formed with M/s TCIL,M/s VSNL and NVPL,a local partner in Nepal. This is the first for the company to foray into the International Telecom Market. The company has commenced its commercial operations and the services has been inaugurated in September 2003.

The subsidiaries of MTNL are Millennium Telecom Ltd at Mumbai and Mahanagar Telephone Mauritius Ltd at Mauritius.

In the year 2003-04 the company was planning to purchase the international roaming replicator soultion from Roamware Inc. USA as a turnkey solutions. The company is also planning about the scrapping and decommissioning of PDH transmission system working in MTNL Delhi. Further the company is planning to expand the equipment for provision of 400K lines CDMA 2000 1X equipment in Delhi and Mumbai & provision of 400K lines GSM each in Delhi and Mumbai.

During 2004-05, the company sucessfully lanuched its Broad Band services under the Brand name 'Tri Band' in Delhi and Mumbai simultaneously.

Company Background - Reliance Capital

Reliance Capital is one of India's leading and fastest growing private sector financial services companies. It ranks among the top three private sector financial companies and banking groups in terms of net worth. Reliance Capital has interests in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking and other activities in financial services.

Consequent to the mutual agreement between Mukesh Ambani and Anil Ambani, Reliance Industries became part of Mukesh Ambani and Reliance Capital, Reliance energy became part of Anil Ambani, who has rechristined his group as Anil Dhirubhai Ambani group. Accordingly, now Reliance Capital is a part of the Reliance - Anil Dhirubhai Ambani Group.

The company intended to access the capital market as part of the resource raising programme, which materialised in the year 1990 and active operations commenced soon after its maiden public issue of equity shares aggregating Rs 20 crore in April 1990. In Jan.'1995, it came out with a rights-cum-public issue at a premium of Rs 130, aggregating Rs 600 crore to strengthen the company's equity base and meet its long-term working capital requirements.

The company was granted approval by the Securities and Exchange Board of India (SEBI) to act as an Approved Intermidiary under the provisions of SEBI's Securities Lending Scheme, 1997.

During 1998-99, the company disinvested part of its holding in Reliance Share and Stock Brokers and Reliance Land. These companies have accordingly ceased to be subsidiary of the company.

At present RCL has four wholly-owned subsidiaries. Reliance Capital Asset Management is the investment manager of Reliance Capital Mutual Fund, Reliance Capital Trustee Co, is the trustee company of the Reliance Capital Mutual Fund, Reliance General Insurance Company Ltd and Reliance Life Insurance Company Ltd.

The company has shifting its focus from a traditional NBFC to a special purpose vehicle and venture capital outfit developing infrastructure projects and investing in infotech, media, Internet and biotech startups, will help it boost its performance in the coming years. The company's fee-based activities include a packaged deal offer to the corporates besides like issue management, underwriting, corporate advisory, corporate valuation, restructuring of operations, privatisation, divestment, mergers and acquisitions.

RCL has also obtained approval from the Reserve Bank of India (RBI) and Insurance Regulatory and Development Authority (IRDA) for financial participation in the insurance sector. It has firmed up plans to enter both life and general insurance categories, and accordingly has floated the two companies Reliance General Insurance Company and Reliance Life Insurance Company.

In 2006, The company has risen over Rs.2,200 Crores through preferential issue of equity shares/warrants at a price of Rs.228 per Share, to strengthen its financial position, and to generate long-term resources for accelerating its future growth plans.

The Hon'ble High court of Gujarat has approved the Scheme of amalgamation and arrangement of Reliance Capital Ventures Ltd with the Company. The scheme of amalgamation envisages a share exchange of Ratio of 5 (five) equity shares of the face value of Rs.10/- each of the company, for every 100 (one hundred) equity shares of the face value of Rs.10/-each of RCVL.

The company along with its affiliate Reliance Land Private Limited, acquired a controlling stake in Adlabs Films Ltd, a leading company engaged in the entertainment sector, through a preferential allotment of share, and by making an open offer. The company and Reliance Land Private ltd became promoters of Adlabs Films Ltd

In November 2006, The company has agreed to acquire 100% Equity share Capital of Travelmate Services (India) Private ltd, subject to necessary regulatory approvals. The proposed acquisition will mark the immediate entry of the company into the exciting growth area of Money Changing and money transfer, in one the world's fastest growing, and most under-served markets.

Company Background - Reliance Industries

In the year 1966 the RIL was founded by Shri Dhirubhai H.Ambani, it was started as a small textile manufacturer unit. In May 8th, 1973 RIL was incorporated and conformed their name as RIL in the year 1985. Over the years, the company has transformed their business from manufacturing of textiles products into a petrochemical major. RIL is the largest private-sector enterprise in India in terms of revenues, profits, net worth, assets and market capitalization. It's operations capture value addition at every stage, from the production of crude oil and gas to polyester, polymer and chemical products, and finally to the production of textiles. The company operates mainly in India but has business activities and customers in more than 100 countries around the world. It has production facilities at three major locations in India and a further four locations in Europe. It also has exploration and production interests in India, Yemen and Oman.

The company has set up a texturising / twisting facilities in 1979, RIL has also set up plants for Polyester Staple Fiber (PSF) in 1986 and for Linear Alkyl Benzene (LAB) & Purified Terephthalic Acid (PTA) in 1988. RIL has setup a petrochemical facility to produce HDPE and PVC at Hazira, Gujarat in technical collaboration with DuPont and BF Goodich respectively. The Hazira petrochemical plant was commissioned in 1991-92.

In the year 1995-96, the company entered the telecom industry through a joint venture with NYNEX, USA and promoted Reliance Telecom Private Limited in India. Reliance became the first corporate in Asia to issue bonds in the U.S at the year of 1996-97. The company commissioned an 80,000 tonne bottle grade PET chip plant at Hazira manufacturing complex. Reliance's PET chips has been accepted internationally due to their high quality during the year 1997-98 and in the same year Reliance Industries Planned to invest around Rs. 5000 crores (US $ 1,250 million) in building two world-scale plants at the site of the Jamnagar refinery in Gujarat. In 1998-99, RIL introduced packaged LPG in 15 kg cylinders under the brand name Reliance Gas. In 1999-2000, RIL commissioned the world's largest 1.4 million tonnes per annum Paraxylene (PX) plant at its new integrated petrochemicals complex at Jamnagar which was planned at 1997-98. Reliance Petroleum Limited (RPL) was amalgamated with Reliance Industries Ltd in the year 2002-03.

The merger places Reliance in the reckoning for a place in the Fortune Global 500 list of the world's largest corporations. During the year the company has also amalgamated Indian Petrochemicals Corporations Limited (IPCL), which leads to compete from a stronger base in the global market. Reliance discovered natural gas in the very first exploration well it drilled in the deep-water exploration block KG-D6 in the Krishna-Godavari basin off Andhra Pradesh. In 2004-05, RIL acquired the polyester major, Trevira GmbH, headquartered in Frankfurt, Germany which has the capacity of 130,000 tonnes per annum of polyester staple fibers, polyester filament yarns and polyester chips.

As of 2007 across the globe, RIL is largest producer of polyester fiber and yarn, 4th largest producer of Paraxylene (PX) and Purified Terephthalic Acid (PTA), 6th largest producer of Mono Ethylene Glycol (MEG) and 7th largest producer of Polypropylene (PP). Gujarat State Petronet Ltd (GSPL) and Reliance Industries Ltd (RIL) have signed a gas transportation agreement to transport 11 million standard cubic meters per day (MSCMD) of natural gas from Bhadbhut in Bharuch to RIL's refinery and petrochemical complex in Jamnagar. Similarly, Gujarat State Petroleum Corporation Ltd (GSPC) has signed a gas transportation agreement with Reliance Gas Transmission and Infrastructure Ltd (RGTIL) for transportation of 3.5 MSCMD of natural gas from its largest K-G basin discovery at Kakinada to Gujarat.

The Maharashtra state government has given the final nod to Reliance Industries Limited (RIL) to set up two captive power plants in Maharashtra - each of 1100 MW capacity - to meet the requirement of special economic zones, malls and other commercial setups and company assured the state of gas supply to Mahgenco's Uran unit. Reliance Industries Ltd plans to invest between Rs 25,000 crore to Rs 30,000 crore in a pipeline grid that covers main gas transport trunk lines supplemented by spur lines crisscrossing four major States initially, followed by a pan-India network and it stretching about 10,000 km across the country. Reliance Industries is entering the supply-deficient hospitality business and is in talks with big international names such as Walt Disney, Ritz Carlton and Four Seasons for managing some of their hotels, it is also looking to set up hotels with themes, such as those run by Disney in the US. Having entered consumer retail and special economic zones in the last two years, Reliance considers hospitality a natural complement to its existing businesses.

The company has signed a letter of intent with NOVA Chemicals on May 2008, to form 51:49 a joint venture in the area of building and construction. This proposed new joint venture between RIL and NOVA Chemicals would be a technological partnership for deploying green building and construction technologies to design, engineer, fabricate and build a range of high-efficiency structures for the Indian sub-continent. Reliance Industries Ltd plans to investment Rs 17,000 crore in oil and gas exploration over the next few years; The Company has already invested Rs 9,000 crore in exploration so far. RIL is also considering surrendering seven exploration blocks awarded to it by the Government.

Company Background - ONGC

More than half century survival in oil and gas industry is a record of work by Oil and Natural Gas Corporation Limited (ONGC). It was originated in the year of 1956 as a private sector company. Later, in the year 1993 the company was came to known as Public Sector Company. ONGC's habitual activities deals with exploration, development and production of Crude Oil, Natural Gas, LPG and some other value added petroleum products such as NGL, C2-C3, Aromatic Rich Naphtha and Kerosene. The company going along with two of its folds namely ONGC Videsh Limited (OVL) and Manglore Refinery & Petrochemicals Limited (MRPL) and ten of Joint Ventures/Associates. ONGC's Basins are totally seven in numbers, Western Offshore Basin (Mumbai & Baroda), KG Basin (Rajamundary), Cauvery Basin (Chennai), Assam & Assam-Arakan Basin (Jorhat), CBM-BPM Basin (Kolkata) and Forntier Basin (Dehradun) and ONGC has two plants situated in Uran and Hazira. The company covers five regions such as Mumbai, Baroda, Nazira, Chennai and Kolkata and also ONGC running eleven institutes for different specialisation in different locations.

During March 1999, ONGC, Indian Oil Corporation (IOC) and Gas Authority of India Limited (GAIL) both of three agreed to have cross holding in each other's stock to pave the way for Long-term strategic alliance amongst themselves for the domestic and overseas business opportunities in the energy value chain. The ONGIO International Pvt Ltd was incorporated in the year 2001 as 50:50 joint venture projects with Indian Oil Corporation Ltd with aim of providing Training, Consultancy & Services in Hydrocarbon Sector and later company has decided to wind up ONGIO due to loss. During 2001-02 the augment recovery from onshore fields of 13 projects 2 were resourcefully commissioned. By the end of the same year 2001-02 the company 's subsidiary unit ONGC Videsh Ltd commenced its commercial production of gas.

In the year of 2004 ONGC initiated Phase-I of a collaborative project on CBM in Jharia Field and successfully completed the same in 2005. During 2004-05 the company discovered its third deep-water exploration campaign 'Sagar Samriddhi' in Krishna-Godavari (KG) Basin at the location Vashistha (VA-1A) in block KG-OS-DW-IV. In the western offshore a shallow-water oil and gas was recorded in D-33, about 60 Kilometers South-West of Mumbai High, Onshore, Oil and Gas was found in Tiphuk-1 in North Assam Shelf and Oil was struck at Wamaj in Cambay Basin. Offshore, four new Platforms (2 Well Platforms, 1 Process Platforms and 1 Clamp-on) were Commissioned for enhancing production. New trunk pipelines are being laidsub-sea from Mumbai High Field to Urban Oil and Gas processing facility.

In March 2005 ONGC launched its retail marketing business with commissioning of its first autofuels outlet at Manglore under the brand 'ONGC Values' and 'Shopp'njoy' for fuel and non-fuel business respectively. The company has also received approval/license from the Government for marketing of non-subsidised LPG cooking gas, Kerosene and Aviation refueling sales. Tripura Power Development Company Pvt Ltd (TPDCL) was incorporated to set up a gas-based power-generating project in Tripura. TPDCL has been renamed as ONGC Tripura Power Company Pvt Ltd after the domination. In the same year the company has entered into various alliances in form of execution of Memorandum of Understanding with Kakinada Seaport & IL&FS with 26% equity stake for development of Port based SEZ at Kakinada, Andhra Pradesh. During the year 2006 the company was awarded 60 out of 110 exploration blocks by the Government in the five NELP rounds. Out of these 60 NELP Blocks 35 are in the form of unincorporated joint ventures and remaining blocks are company's 100% participating interest.

For the sake of its excellent concert, the company has received numerous awards every year. The highlights are NDTV Profit Business Leadership Award, Motilal Oswal CNBC TV18 Biggest Wealth Creator of India for the period of 2001-06, Golden Peacock Award 2006 for Corporate Governance in PSU category, is this award has been conferred to the company regularly. Dun & Bradstreet-American Express Corporate Awards 2006 in the oil and gas exploration sector and Greentech Gold Safety Award in petroleum sector apart from this, the company listed and ranked in Indian level also in global level by various evaluators.

ONGC entering the alternative energy segment with a Rs 1,200 crore-plus investment to generate 200 mw of wind power for captive use and the country's largest field, is all set to produce an additional 20.7 million tonnes of oil and 3.32 billion cubic metre (bcm) of gas with an investment of about Rs 5,713 crore in Mumbai High, the project envisages drilling of 86 infill wells. Five new well head platforms and six clamp-on structures are also planned. A new process platform bridge connected to the existing process complex ICP in Mumbai High South is proposed to handle the additional production. ONGC have future enhancement plans in all sector under the company, in that the production plans covers to develop Deep/Ultra Deepwater field and flow assurance issues, extraction by Twister Technology to produce about 16 TPD of condensate is conceptualized. Further, from the condensate fractionation scheme, production of about 1077 TPA of LPG and 3516 TPA of Naphtha is planned at coast of Rs.30.21 crores. Under the Drilling, formulation of polyamines enhanced High Performance Water Based Mud (HPWBM) system and integrated cementing solutions for HPHT Oil and Gas Wells and some other plans in above said categories and also under in Technology. The company being set up Rajiv Gandhi Urja Bhawan in Delhi for holistic research in Alternate Energy Sources. As on may 2008, part of the strategic alliance initiative, the ONGC proposed assignment of participating interest to BG Exploration and Production India Limited (BGEPIL), a 25 % participating interest in its Mahanadi basin deep water block, MN-DWN-2002/2.

Company Background - Indianoil Corporation

Indian Refineries & Indian Oil Company were set up in 1958 and 1959 respectively, to build national competence in the oil refining and marketing business. In 1964 these two companies were merged to form the Indian Oil Corporation (IOCL). IOCL is the 21st largest petroleum company in the world and the # 1 petroleum trading company among the National Oil Companies in the Asia-Pacific region. Indian oil is also the highest ranked Indian company in the Prestigious fortune Global 500 listing moving to 153th position.

IOCL controls 10 of India's 18 refineries with a combined refining capacity of 54.20 million tonnes per annum. These includes two refineries of subsidiary Chennai Petroleum Corporation Ltd and one of Bongaigaon Refinery and Petrochemicals Ltd. IOCL and its subsidiaries account for 47% petroleum products market share among public sector companies, 41% national refining capacity and 51% downstream product pipeline capacity. It also owns and operates crude oil and product pipelines of over 9000 Km across the country. IOCL also has the largest marketing network in the country, comprising over 30000 sales points backed for supplies by 183 bulk storage points and depots, 88 Indane bottling plants and 97 Aviation Fuel Station to cater the Aviation, Defence as well as Civil industry. Indian oil together with IBP, operates the largest and the widest network of petrol and diesel stations in the country numbering over 15,000. In the overseas business, the company continues to explore new opportunities and coordinate business activities between its various overseas offices at Dubai, Kuwait, Kuala Lumpur, Sri Lanka and Mauritius.

IOC has it subsidiaries namely Chennai petroleum Ltd, Bongaigaon Refinery and Petrochemicals Ltd, IBP Co Ltd, Lanka IOC Ltd, Indian Oil Mauritius Ltd, Indian Oil Technologies Ltd, Indian Strategic Petroleum Reserve Ltd.

During 2000-2001, the company acquired the entire holding of Government of India (GOI) in Chennai Petroleum Corporation (CPCL) (51.81%) for Rs.509.33 crore and Bongaigaon Refinery & Petrochemicals (BRPL) (74.46%) for Rs 148.80 crore, thereby making these companies subsidiaries of it. It has also acquired IBP & Co Ltd by purchasing 33.58% equity capital at a price of Rs.1154 crores.

As a vertical integration through E&P intitatives,the company along withONGC Videsh Ltd was awarded the Farsi Exploration Block in Iran. The mainoperator will be ONGC Videsh in which IOCL will have 40% equityparticipation.

The company is investing Rs.24,400 Crore during the X Plan period from 2002to 2007, in integration and diversification projects apart from refiningand pipeline capacity augmentation, product quality upgradation and retailexpansion. As part of expansion, the company commissioned the world largestsingle train Linear Alkyl Benzene plant at Koyali Refinery in August 2004and the on-going integrated Paxaxylene/Purified Terephthalic Acid plant &World-Scale Naphtha Cracker with downstream polymer projects are part ofthis expansion. The company is also planning to convert the ParadipRefinery into a refinery-cum-petrochemicals complex.

IOCL in association with other companies was awarded 11 exploration blocksin NELP and acquired participating interest in on-shore blocks in Assam andArunachal Pradesh region. The company has now finalised an import deal for1.75 Millions tonnes of LNG per annum with Iran for supplies from the year2009 onwards. The company has proposed to develope gas blocks in the NorthPars fields of Iran jointly with Petropars, a subsidiary of NationalIranian Oil Company. IOCL is first Indian and 6th Global Company todevelope marine Oils and also obtained global approvals for shipboardapplications in the entire family of vessels of MAN B&W,Denmark andWartsila, Finland.

During 2005 the new Panipat-Rewari product pipeline was commissioned and this network was expanded to 7,730 km. Also the company has completed LABplant at Gujarat Refinery, MS quality improvement project & Dieselhydrotreating plant at Mathura Refinery, Sidhpur-Sanganer productspipeline. Some of the ongoing projects of the company are Panipat Refineryexpansion from 6 to 12 million tonnes per annum, crude oil blendingfacilities at Mundra, bottling Plants at Ilayangudi, Raipur and Vasai.Thenew projects of the company during this period are Chennai- Bangalore product pipeline, LPG Bottling plant at Mathura etc.,

During 2005-06, Indian oil entered into South India with the commissioning of the 681-km Chennai-Trichy-Madurai product pipeline. With the commissioning of several other key projects, including the Sidhpur-Sanganer product pipeline and branchline to Ajmer and the Mundra-Churwa crude oil pipeline, the pipeline network was expanded to 9024 km during the year. A section of the Kandla-Bhatinda pipeline from Sidhpur to Sanganer was also convered to crude oil service to ensure enhanced crude oil availability to Mathura and Panipat refineries.

During the year under review, IOC completed projects for Doubling of capacity at Panipat Refinery from 6 to 12 million tonnes per annum , Paraxylene/Purified Terephthalic Acid (PX/PTA) unit at Panipat., MS quality improvement projects at Mathura and Haldia refineries, Diesel hydro-treatment facilities at Mathura Refinery, Chennai-Trichy-Madurai and Sidhpur-Sanganer product pipelines - Mundra-Churwa(Kandla) crude oil pipeline and conversion of Kandla-Panipat section of Kandla-Bhatinda pipeline to crude oil service.

IOCL's production capacity of Lubricating Oil was expanded from 286000 MTs to 525000 MTs.

Indian oil Blending company Ltd, a wholly owned subsidiary of the company was merged with the company w.e.f 12th May 2006.

The merger of IBP Co. Ltd. with IndianOil is at an advanced stage with the shareholders of both the companies approving the Scheme of Amalgamation with a swap ratio of 110 equity shares of IndianOil for 100 equity shares of IBP Co. Ltd..

The valuation process for the merger of Bongaigaon Refinery & Petrochemicals Ltd. (BRPL) with IndianOil is in progress after the Boards of both the companies accorded 'in-principle' approval for the merger.

In accordance with the decision of the Government of India, IndianOil has transferred its entire equity holding in Indian Strategic Petroleum Reserves Ltd. (ISPRL) to the Oil Industry Development Board, a Government body functioning under the Ministry of Petroleum & Natural Gas. Consequently, ISPRL ceased to be a wholly-owned subsidiary of IndianOil effective 9th May, 2006. IndianOil has formed a wholly-owned subsidiary company, viz., IOC Middle East FZE, in Jebel Ali Free Trade Zone, Dubai, with the objective of marketing lubricants and other petroleum products in the Middle East, Africa and CIS regions.

A joint venture company, viz., Indo-Cat Pvt. Ltd., was incorporated in June 2006. The Company is a 50:50 venture between IndianOil and Intercat. Inc. of USA for manufacture and marketing of FCC catalysts and additives. Green Gas Ltd., was incorporated in October 2005 as a joint venture between IndianOil and GAIL (India) Ltd. for city gas distribution in Agra and Lucknow.

During 2006-07, the pipeline network was expanded to 9,273 Km. IOC also commissioned major projects like Mundra-Panipat pipeline, the Koyali-Dahej product pipeline and a branch line to Chittaugarh on the Sidhpur-Sanganer product pipeline. A state of art marketing facility was also commissioned at Trichy, Tamil Nadu on the 683 km Chennai-Trichy-Madurai product pipeline which was dedicated to the nation during the year.

The ongoing projects of IOC during the year are capacity expansion of Panipat Refinery from 12 to 15 MMTPA, Naphtha Cracker with downstream polymer units at Panipat, Hydrocracker for improvement in diesel quality and distillate yield at Haldia Refinery, Residue upgradation and petrol/diesel quality improvement at Gujarat Refinery, Paradip-Haldia crude oil pipeline Koyali-Ratlam product pipeline, Augmentation of Mundra-Panipat crude oil pipeline from 6 to 9 MMTPA, Dadri-Panipat R-LNG spur pipeline, Automation of 1,000 petrol/diesel stations, New depots/terminals at Chittaurgarh, Jasidih, Ratlam, Zewan, Lalkuan & Ennore, LPG bottling plants at Mathura and Vadodara

The New Projects under taken by the company during the year are 15 MMTPA integrated refinery-cum-petrochemicals complex at Paradip, Petrol quality upgradation projects at Panipat, Mathura, Barauni, Digboi and Guwahati refineries, Panipat-Jalandhar LPG pipeline.

During the year, IndianOil was associated with successful discoveries in two exploration blocks, one each in India and overseas. In the domestic exploration block in offshore Mahanadi, gas discovery has been made and currently the reserve potential is being assessed. In the Farsi Block in Iran, oil & gas have been discovered and the block is presently being appraised for commerciality.

The Corporation farmed-in an exploration block, Shakthil in Gabon along with Oil India Ltd. (OIL) as the operator. IndianOil and OIL have each acquired participating interest in an on-land block in Nigeria. IndianOil, in consortium with OIL and two other companies, had bid for oil & gas exploration blocks in Yemen under the third International Bid Round and succeeded in getting two blocks. Exploration work is continuing in the two exploration blocks awarded to the IndianOil-OlL consortium in Libya earlier in 2005.

In India, under the NELP-VI round of bidding, the Corporation, in consortium with other Indian partners, has been awarded two exploration blocks in Mumbai offshore.

Company Background - Cipla

Cipla Ltd was incorporated in the year 1935. Today Cipla is one of the largest manufacturer and marketer in bulk drugs and formulations. It has been ranked as first in India by ORG IMS ratings 2005 in terms of retail pharmaceutical sales. All the bulk drug facilities have been approved by the US FDA and the formulation facilities have been approved by the Medicine Control Agency, UK; the Medicine Control Council, South Africa; the Therapeutic Goods Administration, Australia and other international agencies. It has manfacturing facilities at Kurkumbh, Bangalore, Patalganda and Vikroli in Mumbai. The company's products are currently registered in over 150 countries.

Cipla has a very wide product range which includes antibiotics, anti-bacterials, anti-asthmatics, anti-inflammatory anthelminites, anti-cancer and cardiovasculars. In domestic formulation market, antibiotics are the mainstay, which contributes around 50% of the company's revenue. Some of the leading brands are Ciplox (Ciprofloxacin), Novamox (Amoxycilin) and Norflox (Norfloxacin). Cipla also has in its product portfolio Zidovir (zidovudine, anti-AIDS drug). Cipla was one of the first among the Indian pharmaceutical companies to introduce ampicillin and norfloxacin.

The company is constantly maintained its lead in introducing new drug formulation. The company has very strong research and developement facilities which has been bearing fruits. Its ability to quickly duplicate a new drug introduced elsewhere and introduce it in the Indian market has played a significant role in building a basket of formulation brands. Being one of the earliest entrants into the market with a new drug, generally, enables a company achieve higher realisations. In addition to being among the early entrants, one aspect which has given an edge to Cipla's strategy is the ability to market products at a significantly lower price.

Cipla has developed the world's first budesonide-based, chlorofluorocarbons (CFC) - free anti-asthma inhaler, 'Budecort CFC-free'. Budesonide, which falls in the preventive class of anti-asthmatic drugs, is essentially a steroid and preferred due to its safety profile. The company has invested over Rs 20 cr in developing CFC-free asthma products over a period of 12 month. The product is largely being targeted at the international markets, which are CFC-sensitive and is awaiting for registration in the European markets. The fruits of the new product will be obtained in the coming years, since the company expects to increase its exports through this product.

In Dec 2000, the company cut the price of its anti-AIDS drug Nevimune (scientific name : nevirapine) by 34% to Rs 650 for a strip of ten tablets. The price was earlier Rs 985. Cipla has slashed the price of the drug thrice reducing it from the launch price of Rs 1,350 for a strip of ten to the current price. The company attributes this to improvements in technology that has enabled it to cut costs and pass on the savings to consumers.

Cipla is the only manufacturer of nevirapine from the basic stage in India. This is the fourth price cut of anti-AIDS drugs effected by Cipla in the last three years. The last reduction was in Sep 2000 when prices of its Lamivir, Duovir, Stavir and Nevimune brands were cut between 13 - 45% across six dosage forms.

Among the large pharma companies, Cipla was considered as the fastest growing company with a pre-eminent position in anti-asthma and its foray into high-growth areas like anti-cancer and anti-AIDS. However, current performance is not in line with this perception.

Cipla became the first player outside the US and Europe to launch non-CFC (chlorofluorocarbons) metered dose inhalers. After growing smartly in the domestic market, the company is now focussing on export markets. Cipla has tied up with US major Andrx to supply Omeprazole, an anti-ulcer bulk drug slated to go off patent in October. Andrx is expected to gain the 180 days exclusivity for marketing the generic Omeprazole in the US market, post-patent expiry in October 2001.

Cipla has also tied up with the US-based Zenith Goldline and United Research Labs for marketing Flutamide (an oncology drug) and Felodipine (a cardiovascular drug) in the US and European markets. Flutamide will go off patent in May, while the patent for Felodipine will expire in late 2001.

Cipla has one of the best R&D facilities for reverse engineering in the country. As in the past, its R&D division continues with its focus on finding new processes for existing products.

Cipla is now focussing on high-margin areas like anti-AIDS, cardiovascular and anti-cancer, in order to reduce its exposure to the highly competitive anti-infectives segment. In July 2001, the company has effected another round of price cuts of its anti-AIDS drug segment. This is the fourth price cut in AIDS segment during the last nine months (last one was in May 2001). The company has cut prices of its triple drug regimen by as much as 39%. The three-drug combination of lamivudine, stavudine and nevirapine, which has the potential to reduce the HIV virus in the body to very low levels, will now cost the patient Rs 2,130 per month down from Rs 3,495 per month.

The company is one of the three Indian pharma companies who will jointly market the anti-anthrax drug, Ciprofloxacin, in India. The company is also to benefit in case if USA allows the Indian companies to sell their anti-anthrax dose over there . Anthrax has gripped the world, mainly the USA recently and is suspected to be a form of biological terrorist attack. During 2001-02 a number of Active Pharmaceutical Ingredients which was made in house was introduced, This will definitely scale up the overall sales growth in the near future.

During 2004-05 the company launched many new products and APIs in the country. Some of them are Duova, Duovir E Kit, Duonase, Levolin, Mucinac, Seroflo Multi-Haler and Voltanec. The first phase of the new formulation plant at Baddi, Himachal Pradesh for the manufacture of tablets and capsules was completed and the unit commenced commercial production in April 2005.

In 2005-06 the company has enhanced its installed capacity of Bulk Drugs (including Malts), Tablets & Capsules, Creams, Aerosols/Inhalation Devices and Injections/Sterile Solutions by 79 Tonnes, 2828 Millions Nos, 400 Tonnes, 7800 Thousand Nos and 461 Kilolitre respectively. With this expansion the total installed capacity of Bulk Drugs (including Malts), Tablets & Capsules, Creams, Aerosols/Inhalation Devices and Injections/Sterile Solutions by 1598 Tonnes, 12296 Millions Nos, 616 Tonnes, 53580 Thousand Nos and 1071 Kilolitre respectively.

The company's new export-oriented manufacturing unit for APIs and drug formulations is nearing completion at Patalganga. It is expected to commence production in the second quarter of 2006-07. The company expanded its facilities at Baddi in Himachal Pradesh. The company is planning to set up a large drug formulation manufacturing facility for various dosage forms as a Special Economic Zone (SEZ) in Goa and also planned major additions to its manufacturing facilities at Kurkumbh and Bangalore.

Company Background - Suzlon Energy

Suzlon Energy, a leading WTG manufacturers in India is Asia's strongest growing fully integrated wind power company and ranks amongst the top ten in the world. Suzlon integrates consultancy, design, manufacturing, operation and maintenance services to provide customers with total wind power solutions

Suzlon is one of the fastest growing Wind Energy companies in the world. The key to companies meteoric growth has been companies vision of creating world-class products by adopting the best of everything from around the globe. Suzlon has a subsidiary in Germany for technology development, an R&D facility in the Netherlands for rotor blade molding and tooling, and Wind Turbine and rotor blade manufacturing facilities in India. All this is backed up by stringent international quality control and assurance systems like ISO 9001:2000 and Type certification.

The Company was incorporated in 1995 by Tulsi Tanti. Tulsi Tanti was primarily in the textile business and was introduced to wind energy through a wind power project that he had commissioned for his textile factory. The first subscribers to the Memorandum were the family members and friends of Tulsi Tanti.

The Company entered into a technical collaboration agreement in 1995 with a German company, Sudwind GmbH Windkrafttanlagen to source the latest technology for the production of WTGs in India. Sudwind GmbH Windkrafttanlagen was subsequently taken over by Sudwind Energiesysteme GmbH ('Sudwind'). The parties entered into a fresh agreement dated September 30, 1996, under which Sudwind proposed to share technical knowhow relating to 0.27 MW, 0.30 MW, 0.35 MW, 0.60 MW and 0.75 MW WTGs in consideration for royalty to be paid on the basis of each WTG sold over the course of five years from the date of this agreement. The Company obtained the official non-exclusive, non-transferable license for the manufacturing, marketing, dealing and servicing of APX-60 type blades from the trustee of Aerpac B.V. upon its liquidation, for consideration of Euro 200,000 vide an agreement that was entered into between the trustee of Aerpac B.V. and the Company dated June 4, 2001. This license is valid for an indefinite period. The Company entered into an agreement dated April 10, 2001 with Enron Wind Rotor Production B.V. for the acquisition of the moulds and the production line and technical support and assistance for the production of the rotor blade type APX 60-P in India for total consideration of Euro 500,000. Enron has granted these rights for the manufacturing, marketing and dealing with the products for an indefinite period.

The Company introduced the concept of total solutions wherein, in addition to the supplies of equipments, the client is offered project execution work comprising land acquisition, site development, erection and commissioning, foundation and other civil work and O&M services. These services are offered in conjunction with the Associate Companies. SWSL, a subsidiary of the Company, was incorporated in 1998 with the objective of providing O&M for wind power projects set up by the Company. The Company has also set up technological development centres in Germany and The Netherlands through wholly-owned subsidiaries. SEG, incorporated in 2001 and earlier known as AX 215 Verwaltungsgesellschaft mbH became a wholly-owned subsidiary of the Company in 2002. AERT, a wholly owned subsidiary of AERH, which in turn is a wholly owned subsidiary of the Company, was incorporated in 2001 to engage in the development of technology for rotor blades, a key component of WTGs. Further, Suzlon Energy A/S, a wholly-owned subsidiary of the Company was incorporated in August, 2004 to supervise the international marketing activities of the Company. It is proposed that the entire non-India marketing activities of the Company shall be coordinated through Suzlon Energy A/S. SWECO, now a wholly-owned subsidiary of the Suzlon Energy A/S, was incorporated in 2001 to market, the WTGs manufactured by the Company in U.S.A. Further, Suzlon Energy A/S has another wholly-owned subsidiary, Suzlon Energy Australia Pty Limited, which was incorporated in 2004 to access the wind energy market in Australia. Suzlon Energy B.V. earlier known as AE-Rotor B.V., The Netherlands, a wholly-owned subsidiary of AERH, which is a wholly-owned subsidiary of the Company, was incorporated in 2001 to market the rotor blades manufactured by the Company. Cannon Ball Wind Energy Park-I, LLC ('Cannon Ball') was incorporated as a limited liability company in July, 2002 for the purpose of setting up a wind power project in North Dakota, USA. Cannon Ball is a wholly-owned subsidiary of SWECO which is a subsidiary of Suzlon Energy A/S. Further, a representative office of the Company was also set up in China in 2003 to explore the Chinese market.Suzlon's

Suzlon Energy Limited has taken a step further for establishing its presence in China by commencing the establishment of a wind turbine generator manufacturing facility in China through its wholly owned subsidiary Suzlon Energy (Tianjin Limited, The said manufacturing facility which is scheduled to commence its commercial operations by about Second quarter of financial year 2006-2007 would cater to the energy needs of China.

The companies product range includes 0.35 MW, 0.60 MW, 0.95 MW, 1.00 MW, 1.25 MW and 2.00 MW WTGs

Suzlon Energy also has the distinction of introducing the concept of large wind parks in Asia and has gone on to build some of the largest wind parks in Asia including the world's largest wind park of its kind.

Further, Suzlon's status as a force to reckon with in the wind energy industry came with the World Wind Energy Association's award for the year 2003, recognizing its contribution in disseminating wind energy worldwide.

Company Background - ICICI Bank

ICICI Bank, a private sector bank under the house of ICICI was incorporated in the year of 1994. It is a multi-specialist financial service provider with leadership position across the spectrum of financial services in India. ICICI Bank is the 2nd largest bank in India and Bank breaking into the top 100 financial institutions in the world, in terms of market capitalisation. It got this position in short time, because the bank doing what customers want. ICICI running its business with six principal groups, such as Retail Banking, Wholesale Banking, International Banking, Rural, Micro Banking and Agri-Business, Government Banking and Corporate Centre. The Bank offers a wide spectrum of domestic and international banking services to facilitate trade, investment banking ,Insurance, Venture Capital, asset management, cross border business & treasury and foreign exchange services besides providing a full range of deposit and ancillary services for both individuals and corporates through various delivery Channels and specialized subsidiaries. ICICI Bank has 14 subsidiaries, out of that 10 in domestic and rest of 4 in international level such as UK, Canada and Russia. To efficiently distribute its products and services, the bank has developed multiple access channels comprising lean brick and mortar branches, ATMs, call centers and Internet banking. The Bank has introduced the concept of mobile ATMs in the remote/rural areas. It has also extended its mobile banking services to all cellular service providers across India and NRI customers in USA,UK,Middle-East and Singapore.

The merger and acquisition are the key kind to bank. The Bank of Madura (BOM) got merged with ICICI Bank during the period 2000-01 and in 2001 ICICI (Financial Institution) merged with ICICI Bank. The two subsidiaries of ICICI Ltd viz ICICI Personal Financial Services and ICICI Capital Services were also merged with the ICICI Bank on March 2002. During May,2003 the bank has acquired Transamerica Appple Distribution Finance Private Ltd and renamed it to ICICI Distribution Finance Private Limited which is primarily engaged in financing in the two-wheeler segment.

Bank received many awards and recognitions during the year 2005-06. Some of them are Best Bank in India by Euromoney, Best Integrated Consumer Bank Site in Asia by Global Finance, Best Cash Management-Country Awards in India by The Asset and Best Secondary Offering by Finance Asia. ICICI Bank noted as Bank of the year 2006 India by The Banker, it was a award to ICICI Bank at second time from last year. During the year 2006-07 also Bank acquired the number of awards. Samples are, Best Transaction Bank in India by Asset Triple AAA, Best Bank of the Year 2006 by Business India, National Award for Excellence in Energy Management by CII and Excellence in Multi Channel Distribution by Asian Banker.

As on April 2007 Sangli Bank Ltd was merged with ICICI Bank Ltd. In the Wholesale Banking segment, the bank has achieved a significant milestone in the market making activity by expanding the product suite to include foreign exchange options. As on May 2007 the bank have market capitalisation of Rs 77,834 crore. In 2007 June ICICI Bank has entered into an agreement with networking solutions provider GTL Ltd to lease out its call centre facility at Mahape worth of around Rs 100 crore for a period of 25 years. In August of 2007 the bank has availed of a $200-million worth Line of Credit (LoC) from The Export-Import Bank of Korea (Korea Exim bank) for the purpose of the Hong Kong branch of ICICI Bank gets funds from Korea Exim bank, and the bank lends foreign currency loans to domestic companies investing in Korea and the bank had taken a similar LoC of $200 million from the Japan Bank for International Cooperation (JBIC) last year. In 2008 ICICI Bank, come a cropper in the global stage when it comes to their brand value, which is $2,603 million, it reveals by the study of London-based consultancy Brand Finance

Company Background - SBI

SBI, started as Imperial Bank then named State Bank of India commenced its operations from the year 1955, is the largest commercial bank in India in terms of profits, assets, deposits, branches and employees. As of March 2008, the bank has had 21 subsidiaries and 10,000 branches. SBI offering the services of banking and as well as non- banking services to their customers. It provides a whole range of financial services which includes Life Insurance, Merchant Banking, Mutual Funds, Credit Cards, Factoring, Security Trading & Primary dealership in the Money market. The Bank is actively involved in non-profit activity called community services banking apart from its normal banking activity.

The bank also concentrate in agriculture, for that it took initiative spotlight kharif and spotlight rabi campaigns for higher disbursement. It introduced Automated Teller Machine with Kishan Credit Cards in all circles to assist agriculture peoples, cumulatively the bank has credit linked 7.68 lac Self Help Groups and disbursed loans to the extent of Rs 3,468 crs, so far. In the year 2001 the SBI Life was started. SBI is the only Bank to have been permitted a 74% stake in the insurance business. The Bank's insurance subsidiary "SBI Life Insurance Company" is a joint venture with Cardif S.A holds 26% stake. SBI Life enjoys the unique distinction of being the first private sector life insurance company in India to make profits for two consecutive years.

During the year 2004-05 SBI was the only one bank in India to ranked among top 100 banks in the world and also among the top 20 banks in Asia in the annual survey by "The Banker" as well as in the same year bank received two prestigious awards for technology from the same The Banker magazine. In the year 2005-06 the bank introduced "SBI e-tax" an online tax payments facility for direct and indirect tax payment, the centralized pension processing center also launched during the year. SBI made a partnership with Tata Consultancy Services for setup C-Edg Technologies and consulting services to the banking, financial services and insurance industry. The bank noted as The most preferred bank in a survey by TV 18 in association with AC Nielsen-ORG Marg along with SBI voted as The most preferred housing loan provider in AWAAZ consumer awards for 2006. In the customer loyalty survey 2006-07 conducted by "Business World", SBI has been ranked number One in all parameters of customer satisfication, service orientation, customer care/ call center, customer loyalty and home loans. SBI Funds (SBIFMPL) was judged "Mutual fund of the year" by CNBC/TV-18/CRISL. SBI FMBL Equity schemes won 11 awards and ranging of the AMC in terms of Assets under management remained at 7th position during the year 2006-07. SBI cards is in 2nd position in the country under market share. During the year 2006-07 14.81 lac additional cards were issued by SBI and they crossed the landmark of 3 million cards totally.

The strategic initiatives that SBI have launched business groups in 2007 namely rural and agri business; treasury and marketing; corporate strategy and new business; and fourth mid corporate group is on the anvil. They also introduced new products and services such as web-based remittance, instant fund transfer, online-trading, comprehensive cash management.

SBI opened its 10,000th branch in March 2008, it becomes only the second bank in the world to have more than 10,000 branches after China's ICBC. SBI is pursuing aggressive IT policy, where the Automated Teller Machines are now also enabled to pay utility bills, college fees, book air-line tickets and accept donations, further bilateral sharing of ATMs was extended to thirteen banks covering 15,700 Automated Teller Machines and an Memorandum of Understanding has been signed with the Indian railways for installing ATMs at 682 railway stations. Infrastructure fund, private equity, venture capital and pension fund management are under in process to assist the customer in time. SBI is targeting to emerge as the best rated bank among public, private, foreign and state -owned banks by the end of the next fiscal. Employee Stock Option Scheme, where employees have the option to pick up shares as per their needs is avail in SBI. SBI plans to implement the mobile banking technology will soon with aim of customer will no be just "Branch customers" but will be "Bank customers".