January 23, 1999

NAME

DAINIK BHASKAR

Proprietors – Writers & Publishers Limited

REGISTERED OFFICE

Dwarka Sadan, Press Complex, Maharana Pratap Nagar, Babibganj, Bhopal, Madhya Pradesh, India.

Tel. No. 91-755-564 304

Telex 0705-264 NEWSIN

BRANCH

K 31, Jayendragajn, Gwalior, Madhya Pradesh.

K Bombay-Agra Road, Indore, Madhya Pradesh.

K 1305, Dalamal Tower, Nariman Point, Mumbai - 400 021.

K Classic House, 12-14/8, Doctor's Lane, Goel Market, New Delhi- 110 001.

REPRESENTATIVES

K Chennai

K Calcutta

K Bangalore

K Ahmedabad

K Hyderabad

K Jaipur

K Pune

HISTORY

The Company was incorporated on January 13, 1981 at Bhopal in Madhya Pradesh, having Company Registration Number 1714.

LEGAL FORM

A closely held public limited liability company.

DIRECTORS

Mr. Ramesh Chandra Agarwal

Mrs. Meena Garg

Mr. Govind Prasad Garg

Mr. Sudheer Agarwal

MAJOR SHAREHOLDERS

Mr. Ramesh Chandra Agarwal 903 Equity shares

Mrs. Meena Garg 201 Equity shares

Mrs. Sharda Agarwal 3,500 Pref. Shares

Mrs. Kasturi Devi Agarwal 1,500 pref. Shares

Mr. Sudheer Agarwal 15,000 Pref. Shares

Mr. Dwarka Prasad 3,500 Pref. Shares

Mr. Ramesh Chandra Agarwal 800 Equity shares

BUSINESS

Subject is a Printer and Publisher of `Dainik Bhaskar' Newspaper in Hindi, simultaneously published from Bhopal, Gwalior, Indore, Jabalpur, Bilaspur and Jhansi.

Data of 1992 shows that it's circulation in December 1992 was 18,6666 copies at Gwalior and 37,650 copies at Bhopal.

It imports newsprint from overseas markets against L/C, D/A and D/P terms.

Subject operates from caption press and office both are owned.

Subject employs 70 persons in press and 40 persons in office.

SISTER CONCERNS

Nil

BANKERS

State Bank of Indore, Shahpura Branch, E-5/193, Area Colony, Bhopal, Madhya Pradesh, India

[The company has been substantially assisted by Rajasthan State Industrial Development & Investment Corporation Limited]

AUDITORS

Vidyarthi & Sons

Chartered Accountants

Gandhinagar, Gwalior

FINANCIAL INFORMATION

The company's last available financials for 1993 is enclosed herewith. Registry were inspected in last week.

Management of the company remained non-cooperative during current investigation.

CAPITAL STRUCTURE

Authorised Capital :
160,000	Equity Shares of Rs.100/- each	Rs.16.000 millions
40,000	Preference Shares of Rs.100/- each	Rs. 4.000 millions
*GRAND TOTAL*		*Rs.20.000 millions*

Issued, Subscribed & Paid-up Capital :
1,905	Equity Shares of Rs.100/- each	Rs.0.191 millions
38,000	8% Non-Cumulative Preference Shares of Rs.100/- each	Rs.3.800 millions
*GRAND TOTAL*		*Rs.3.991 millions*

COMMENTS

Subject is a well established and reputed company in its field. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. Payments are usually correct and as per commitments. No latest financials could be available from any sources.

The company can be considered normal for business dealings at usual trade terms and condition.

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IMPORTANT FINANCIAL INFORMATION

[figures are in Rupees Millions]

*PARTICULARS*			31.03.1993

Sales Turnover [including other income]			505.780

Profit/(Loss) Before Tax			1.412
Provision for Taxation			0.000
Profit/(Loss) After Tax			1.412

ABRIDGED BALANCE SHEET AS ON 31^ST March, 1993