BARON INFOTECH Share price

The Company was incorporated on 2nd December 1996 under the provisions of the Companies Act 1956 as a public limited Company by name and style "Baron Infotech Limited" vide certification of Incorporation No. 25855 issued by the Registrar of Companies Andhra Pradesh. The Company obtained Certificate for Commencement of business on 9th April 1997 from Registrar of Companies Andhra Pradesh.Baron Information Technologies the first email service provider in Hyderabad in 1994 when Internet is in infant stage.Baron Infotech Ltd was incorporated with one of the main objectives to acquire Baron Information Technologies a proprietory concern owned by Mr. Rama Raju who is also founder director of Baron Infotech Ltd.The Company is currently operating in the areas of developing and implementing Banking automation solutions and Enterprise Resource Planning products besides providing maintenance for these products. The Company is planning to expand its operations to include other more profitable areas such as offshore development in the niche area of testing and quality assurance (T & QA) and is also in the process of developing a Business to Business (B2B) e-commerce enabling extranet tool.The following assets and liabilities were taken over at Book value and in consideration thereof 50504 equity shares of Rs. 10/- each were allotted to Mr. N V Rama Raju for acquisition of business.Assets Amount (Rs.)Computers 344303.49Furniture 61479.91Office Equipment 50603.20Investments 112726.00Stock 18500.00Sundry Debtors 301538.90Other Current assets 368000.00Cash in Hand 4461.89Balance at Bank 10625.37Total 1272238.76Liabilities Amount (Rs.)Term loan from SBI 377304.00Sundry Creditors 276852.21Outstanding expenses 113042.55Capital 505040.00Total 1272238.76Baron is in Software development Business since inception and been established as Proven Solution Providers for Banking and Manufacturing Industry.Baron has End to End Total Bank Automation Solution (TBA) for Retail Banking and other modules with more than 30 Installations spread all over Andhra Pradesh Maharastra and Madhya Pradesh.Baron has also established its own Enterprise Solution forManufacturing Industry specifically Process Industry.Baron has tied up with NexPrise USA on 26th January 2000 to exploit the Global IT market. In the process Baron is establishing its own offices in USA and Singapore.Indian IT industry is growing at an average annual growth rate of 33% highest compared to any other industry segment 1998-99 turnover of IT industry stands at 24000 crores growing continuously and became an integral part of economy growth and Society. Banking and Financial industry Solutions contribute around 8% and Manufacturing Automation Solutions contributes around 10% of IT industry turn over. (Source NASSCOM) SUBSIDIARY(IES) OF THE COMPANYThe Company does not have any subsidiary.