| YEAR EVENTS
1995 - The Company was incorporated on 17th April as a Public Limited Company
and obtained Certificate of commencement of business on 5th May.
- The Company is setting up a project with the installed capacity for manufacturing
Ball bearings and Taper Roller bearings.
- The Company has entered with an agreement with M/s. KSA Consultants Pvt. Ltd.
for its Architectural & Civil Engineering.
- The Company has entered into an lease agreement with Lessor, for its corporate
office under a interest free lease deposit of Rs 65 lakhs.
- The Company has entered into Memorandum of Understanding with the Registrars to
the Issue for attending to the complaints received in respect of Public Issue for a period
of 6 months from the date of allotment.
- The Authorised Capital of the company is Rs 10,40,00,000/- divided into 1,04,00,000/-
No. of Equity Shares of Rs 10/- each.
- MOU dated 30th May, from Libord Finance Limited and from Blue Blends Finance
Limited stipulating the terms and conditions to act as Lead Managers to the Issue and
the acceptance thereof.
- MOU dated 10th day of July from XL Softech Consultants Pvt. Ltd. stipulating the terms
and conditions to act as Registrars to the Issue.
- Public Issue of 25,00,000 No. of Equity shares of Rs 10/- each for cash at par aggregating
to Rs 250 lacs to Indian Public.
1997 - During the year the Company is still in the process of setting up the project and no
commercial activities have started. Hence no profit and Loss Account has been prepared.
1998 - The market conditions in the manufacturing sector of Bearings industry is very depressed.
- The Company has not accepted any deposits from the public during the year under review
within the meaning of section 58A of the Companies act, 1956 and the rules thereunder.
1999 - Sriveni Multi-Tech Ltd (formerly known as Boss Industries Ltd), a Hyderabad-based IT
firm, has entered into an agreement with Raymond Karsan Associates (RKA) of USA, one
of the leading human resources consultancy organisations, for outright purchase of
their software, Searcher.
- The board of directors has decided to re-issue 9,00,000 forfeited equity shares of Rs. 10
each at a price of Rs. 170 per share to G. E. Investment Management, a registered FII in
the country.
- Sriven Infotech Ltd, a Hyderabad-based software company along with a group of
acquirers - Dr. Neeraj Multimedia Studio Pvt Ltd (DNMSPL) and Sriven Employees
Foundation Trust (SEFT), are in the process of acquiring Boss Industries Ltd (BIL).
- The promoters of Sriven Infotech have decided to collaborate with Boss Industries
through a common platform leveraging BIL's software development capabilities.
2000 - The Company has entered into an agreement with BSES Telecom Ltd.,
Bangalore (a subsidiary of BSES Ltd., Mumbai) to float a joint venture company
with an equity particiable of 49:51 to support BSES Telecom Ltd., in the I.S.P. business.
- Hyderabad-based Sriven Multi-Tech Ltd has tied up with Mumbai-based BSES
Telecom Ltd (BTL) to float a JV company called -Powersurfer Interactive Ltd, to set up
a network for providing information on entertainment, e-commerce, tourism development
Railways and banking with ATM in Mumbai.
- The company has acquired Station X Studios LIC, a Hollywood-based 3D animation
studio.
- The Company has acquired 11 lakh equity shares of Rs 10 each of Color Chips (India)
Ltd. amounting to 10.89 per cent of the latter's paid-up equity , at an undisclosed price.
- The Company will be entering into an exclusive fiveyear agreement with Emirates
Telecommunication Corporation, UAE, to launch Gulfstream -- a multilingual multimedia
portal in six months' time.
2001 - The Company has received the Letter of Intent from Emirates Telecommunications
Corporations. Sriven would be developing content for a e-mag on a revenue-sharing
basis in the ratio of 40:60.
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