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Servotech Engineering Industries Ltd (SEIL) was incorporated on October 7 1994 in the state of Maharashtra as a Public Limited Company. It received the certificate of Commencement of Business on November 21 1994. The company has been promoted by Shri Radhey Shyam Lahoti and Shri Ramavtar Lahoti to set up facilities for manufacture and fabrication of specialised plants such as castor oil and derivatives plants flash de-solventisation plants solvent extraction plants edible oil refineries food processing plants etc at Village Shirgaon TalukaPalghar Dist. Thane. The Company proposes to have technical collaboration with two equipment suppliers M/s. Pamag AG of Switzerland for food processing plants and M/s. H.L.S. Limited of Israel for flash desolventisation plants. Since its commencement of business in Nov. 94 the company has achieved a sales turnover of Rs.72.28 Lacs upto 31.3.95 and Rs.666.63 Lacs upto the period ended 23.02.96. The company has been able to complete one contracts since commencement of operations and has on hand five contracts which are under various stages of completion as under: (RS.IN LACS)Sr. Name of party Total Contract Orders No. Value Executed 1. K.N. GURUSWAMI 227.75 221.30 2. SREE RAYALASEEMA 237.00 212.50 3. VIZAR AGRO CHEMICAL 76.20 71.98 4. NAGARJUNA AGROTECH 170.20 158.07 5. KRISHNA PLASTO CHEM. 10.15 10.15 6. ABB ABL LTD. 19.59 12.08 (RS.IN LACS)Sr. Name of party Order toNo. be Executed1. K.N. GURUSWAMI 6.45 2. SREE RAYALASEEMA 24.503. VIZAR AGRO CHEMICAL 4.22 4. NAGARJUNA AGROTECH 12.135. KRISHNA PLASTO CHEM. -6. ABB ABL LTD. 7.51 Apart from this the company has procured orders worth Rs.5.47 Crores from the following company for which formal contracts are yet to be executed:-Name of the Party Total Value (Rs.Lacs)Hillmans Agro (Ind) Ltd. 372.00India Oleoresins Ltd. 175.00The company is at present carrying on its operations by getting the fabrication done by outside agencies which include Servotech Engineers Limited (a company in which Mr. R.S. Lahoti was the Managing Director during December ''93 to November 94 for a period of 12 months).The Company proposes to manufacture various solvent extraction plants required for manufacture of Edible Oil Vanaspati Oil Deoiled Cake etc. There is vast market potential for various plants in edible oil industry considering growing demand for edible oil which would bearound 6 million tonnes by 2000 A.D a rise of over 2.5 million tonnes from present level. With rising population as also rise in the per capita income a large agricultural output of oil seeds a further investment of about Rs.2000 Crores in the oil seed processing industry is expected by 2000 A.D.As regards competition no authentic data are available. However the major players in this segment are Alfa Laval Limited Krup India Limited and Desmet Chem Food Eng. Pvt. Ltd. The critical factor in this industry is the quality of the plant supplied timely completion and the efficiency of the plants supplied. The order took position indicates the level of satisfaction of the clients and the reputation the company enjoys. Therefore the company is confident ofmeeting the competition.The company has been getting contracts allover India and intends to pursue the same and will not have to restrict its operation to any particular region.The company is not dependent on a single customer for its material part of Income. The company has not followed any unorthodox procedure for recording sales and revenues. Since the commencement in 1994 the company could achieve a sales turnover of Rs.72.28 Lacs for the period of 4 months and 10 days. For the period of 11 months (approx.) ended23.02.96 the company could achieve a sales turnover of Rs.666.63 Lacs registering an increase of 922%.The technology for solvent extraction plants is a proven one and is developed in house by the company. Therefore the company is not dependent on any external technology.The material required for fabrication of solvent extraction plants are easily available in the local market and the company purchases the same generally from Arrow Whead Seperation Engg. M/s. Atul Filters Pvt. Ltd. Steel Authority of India Ltd. Manish Associates and Saroj AnilSteel P. Ltd etc. The company already has experienced personnel on its roll and infact the key personnel is one of the major strengths of the company. The Company is at present carrying on its operations by getting the fabrication done by outside agencies. The erection of the plants at the clients'' site is done through contractors under supervision by its Site Engineers. The Company intends to get the job work done from out sideagencies till it could commence its operations in its own facilities. There are no proposed investments/business transactions of the company in any of the concern where the promoters/Directors of the company have any interest.f