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Cybermate Infotek Limited (CIL) was originally incorporated in the name of M/s.Cybermate Corporate Services Limited (CCSL) on 5th May 1994. The name of the company was subsequently changed to Cybermate Infotek Limited on 5th January 1996.The Company started the domestic operations in a modest way during 1994-95 and then moved into on-site overseas projects and training.Company has initiated steps to register their trade mark "CYBERMATE". They have been allotted a Registration number of 710099 by GOI Trade Marks Registry Shastri Bhavan Chennai - 600 006. The registration certificate is awaited. Company has received permission from the Director Software Technololgy Parks of India Department of Electronics Government of India S.R.Nagar post Hyderabad- 500 038 vide their letter No.STPH/IMSC/95-96/1732 dated 05.02.96 to set up a 100% Export Oriented Unit (EOU) for manufacture/export of Computer software. The permission is valid till 05.02.1999. The Company is presently engaged in designing developing and marketing of software products/projects for the domestic and overseas markets. CIL also provides software solutions and consultancy services in both on-site and off-shore projects. CIL aims to provide high quality information technology services which include :Systems IntegrationTurnkey Software ProjectsConsultancyContract programmingValue added information services etc.Some of the major clientele of the Company include Nagarjuna Construction Company Limited Krupp Industries India Limited Apple Laboratories Ltd Indu Drugs Arcat Electronics Pvt Ltd Deccan Ayurvedashram Pharmacy Ltd (Bajaj Group) OM Prakash Professional Services Godavari Drugs Ltd. Autofin Ltd Shri Hanuman Co-operative Sugars Ltd etc. The Company has obtained the consent letters from each of them to disclose their name in the offer document and same are available as documents for inspection.CIL has projected a turnover of Rs.427 lakhs and a net profit after tax of Rs.47 lakhs during the current year i.e. 1998-99. As on 30.11.98 the Company as registered a turnover of Rs.207.14 lakhs and has posted a Net profit of Rs.31.39 lakhs. The Company is promoted by professionals and technocrats with adequate experience in the global software industry. SUBSIDIARY COMPANYThe company has registered a subsidiary company by name CYBERMATE INFOTEK LIMITED in USA at 25 Greystone Manner Lewes DE- 19958-9776 County of Sussex U.S on.22.06.98. The subsidiary Company was incorporated in the state of Delaware U.S vide file No.29109-73. This Company has been set up to take care of U.S Operations of CIL. CIL proposes to hold 100% of the equity of the subsidiary and Mr. Rajiv Goyal Director will be the executive in charge of this Company. he Company''s present Authorised Capital is 1500 shares having a par value of US $ 0.00 per share. CIL will be subscribing to the entire equity ofthe Company after obtaining necessary clearances in India. The certificate of incorporation by name Cybermate Infotek Ltd in U.S.A does not disclose the status of the Company as a subsidiary of Cybermate Infotek Ltd.The Company is in the process of starting its operations.This Company has not borrowed any money either from the parent Company or from the Banks.There are no other ventures/firms/Companies promoted by the promoters other than the above Company.(a) There are no outstanding litigations defaults or labour problems or closure in the above Company.(b) There are no interests other than the normal business of the Company and equity participation by CIL in the SubsidiaryCompany.(c) None of the promoters/Directors of CIL have any other interest in the above subsidiary except for the salaries payable to the Working Directors and equity participation. At present no remuneration has been paid to Mr.Rajiv Goyal by CIL.The Promoters/Directors of the Company have not resigned/retired from any Company/Partnership firm/Other venture within a period of last one year.