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Genesys Securities Limited was incorporated on 12.01.95 asa Public Ltd company under the Companies Act 1956 atHyderabad in the State of Andhra Pradesh vide RegistrationNo. 01-19200 of 1994-95. The Company obtained theCertificate of Commencement of Business pursuant to Section149 of the Companies Act 1956 on 17.01.1995.Mr. A. Krishna Reddy the promoter acquired The HyderabadStock Exchange Membership card by transfer of membershipfrom Late Ganesh Shankar Alshi. on 30-04-1990 for aconsideration of Rs.100000=00 (Rs. One Lakh). The Companyhas purchased the individual Membership Card of TheHyderabad Stock Exchange Ltd from Mr. A. Krishna Reddypromoter for a consideration of Rs.65 lacs. The Companymade an application to HSE and SEBI for conversion of theIndividual Membership Card to Corporate Membership Card forwhich it has obtained the required permissions vide HSEletter no:HSE/93-94/1074 dt. 13.02.95 and SEBI Certificateof Registration No: 1NB060695833 vide its letter No.SMD-II/38/95 dated 23-02-1995. The Corporate Membershipwill be operational from 01.04.1995 as per the HSE letterRef:HSE:ADMN:95:1322 dt. 23.02.95. According to the letterof The Hyderabad Stock Exchange Ltd. Ref:HSE:ADMN:95:504dated 24th April 1995 the last auctioned price of TheHyderabad Stock Exchange membership card auctioned on 21stJanuary 1995 was for Rs.6511122/-.According to the agreement between Genesys SecuritiesLimited and Mr. A. Krishna Reddy the membership of TheHyderabad Stock Exchange Ltd. will be taken over by theCompany subject to all necessary approvals from authoritiesconcerned. Securities and Exchange Board of India hasgranted certificate of registration to Genesys SecuritiesLtd. vide its letter dated 23.02.1995 Ref:SMD-II/38/95.as a stock-broker. Hence it is considered that the card hasbeen transferred on 23.02.1995.