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OVERVIEWWe were originally incorporated on October 18 1995 as Probity Researchand Services Private Limited at Mumbai under the Companies Act 1956with Registration No. 11 93797. We commenced our operations as anindependent provider of information analysis and research coveringIndian businesses financial markets and economy to institutionalcustomers. We became a public limited company on April 28 2000 and thename of the Company was changed to Probity Research and ServicesLimited. The name of the Company was changed to India Infoline.comLimited on May 23 2000 and later to India Infoline Limited on March23 2001.In 1999 we identified the potential of the Internet to cater to a massretail segment and transformed our business model from providinginformation services to institutional customers to retail customers.Hence we launched our Internet portal www.indiainfoline.com in May1999 and started providing news and market information independentresearch interviews with business leaders and other specializedfeatures.In May 2000 the name of our Company was changed to India Infoline.comLimited to reflect the transformation of our business. Over a period oftime we have emerged as one of the leading business and financialinformation services provider in India.In the year 2000 we leveraged our position as a provider of financialinformation and analysis by diversifying into transactional servicesprimarily for online trading in shares and securities and online aswell as offline distribution of personal financial products likemutual funds and RBI Bonds. These activities were carried on by ourwholly owned subsidiaries.Our broking services was launched under the brand name of 5paisa.comthrough our subsidiary India Infoline Securities Private Limited andwww.5paisa.com the e-broking portal was launched for online tradingin July 2000. It combined competitive brokerage rates and researchsupported by Internet technology Besides investment advice from anexperienced team of research analysts we also offer real time stockquotes market news and price charts with multiple tools for technicalanalysis.Acquisition of Agri Marketing Services Limited ("Agri")In March 2000 we acquired 100% of the equity shares of Agri MarketingServices Limited from their owners in exchange for the issuance of508482 of our equity shares. Agri was a direct selling agent ofpersonal financial products including mutual funds fixed depositscorporate bonds and post-office instruments. At the time of ouracquisition Agri operated 32 branches in South and West India servingmore than 30000 customers with a staff of approximately 180employees. After the acquisition we changed the company name to IndiaInfoline.com Distribution Company Limited.FacilitiesOur main offices are located in approximately 4000 square feet ofoffice space located in Mumbai India. Our India Infoline Branchescollectively occupy an additional 10000 square feet of office spacelocated throughout India As on March 31 2005 we have 73 branchesacross 36 locations in India.The table below shows the changes in the Registered Office of theCompany since Incorporation:Previous Address New Address Date of Change 208-C Agarwal Market 1 Snehdeep Gokhale Road August 6 1999 Vile Pane (East) Vile Parle (East)Mumbai - 400 057. Mumbai - 400 0571 Snehdeep Gokhale Road Building No. 24 1st floor Jan.15 2001 Vile Parle (East) Nirlon Complex Mumbai - 400 057. Off Western Express Highway Goregaon (E) Mumbai - 400 0063.Reason for ChangeRequirement of more floor space.Requirement of more floor space.The instances when the name of the Company was changed are cited below:Previous Name New Name Probity Research and Probity Research and Services Private-Limited Services Limited Probity Research and India Infoline.com Limited Services Limited India Infoline.com Limited India Infoline Limited Date of Change Reason for ChangeApril 28 2000 Conversion from Private Limited to Public Limited CompanyMay 23 2000 To focus on the retail financial intermediary business through an online set-up.March 23 2001 To focus on the retail financial intermediary business through offline as well as online set-up.