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The Company Subuthi Finance Private Limited was incorporated on 11th March 1992 and being a privates limited company was eligible to commence business immediately. The company was converted into a Public Limited Company on the 29th March 1994. The Company is having its Registered Office at Madras and branch offices at Bombay and Madurai.SUBSIDIARY COMPANYThe company does not have any subsidiary.PRESENT BUSINESSThe Company is presently engaged in the Financial Services Operations and offers diversified range of Services which include:Corporate Credit OperationsInvestment Banking OperationsMerchant Banking OperationsOTCEI OperationsCORPORATE CREDIT OPERATIONSThe Company''s Corporate Credit Operations include Leasing and Hire Purchase financing and Syndication Bill Discounting Promoter Funding Bridge Loan Financing Loan Syndication etc. These services have been provided to Companies which include Agritech Hatcheries & Foods Ltd. Damania Airways Ltd. Damania Pharma Ltd. Ravlon Pen Co. Ltd. Milton Plastics Ltd. Gujarat Rodrell Ltd. Solar Pharmachem Ltd. Weizmann Industries Ltd. DLF Industries Ltd. etc. As of December 31 1994 the Company has total leased assets of Rs.469 Lacs and has written hire purchase business for Rs.1148 Lacs. For the 9 months period ended on December 31 1994 the company has received total rental of Rs.251.51 Lacs. The Company as a business Strategy for Corporate Credit Operations will concentrate only on financially sound companies with a good track record based on sustained record of profits and dividend.INVESTMENT BANKING OPERATIONSThe Company''s Investment Banking Operations include investing in Shaves and Debentures of actively traded blue chip listed companies. As on December 31 1994 the Company has made a total investment of Rs.163 Lacs. It has received an income of Rs 7.63 Lacs during the 9 months period ended on December 311994. Keeping in view that emerging capital market scenario the Company is confident of increasing growth in its Investment Banking Operations.MERCHANT BANKING OPERATIONSThe Company was accorded Category III Merchant Banker Status by SEBI with effect from 1st August 1993. The Company''s Merchant Banking Operations include Corporate Advisory Services on Capital Structuring of both Equity and Debt and the entire gamut of Issue Management. The Company has done underwriting activities on selective basis. During the period ended December 31 1994 it has earned on income of Rs.2.60 Lacs. During 1996 the Company proposes to apply to SEBI for Category I Merchant Bankers status which willenable it to undertake Merchant Banking activities offering entire range of services.OTCEI OPERATIONSThe Company has obtained Dealership Status from the OTCEI and it is expected that this will augument the services offered by the Company in the Merchant Banking Operations.FUTURE PLANSThe spurt in economic activities encouragement and enlargement of the scope for Non-Banking Financial Companies based on Dr.Shah Committee recommendations has opened up vast new opportunities for full scale professionally managed financial services companies.To take advantage of the new opportunities the Company has planned to increase its capital base which with the permissible borrowing from Banks will help the Company to raise resources for setting up additional infrastructure facilities and for increased deployment of funds in Corporate Credit Investment Banking and Merchant Banking Operations.PERFORMANCE OF SUBSIDIARIESNot Applicable