Desarrollo clínico de nanopartículas dirigidas

1. Outstanding Litigations

1. Save as detailed herein:

a. neither the Company, nor any director or Promoter of our Company is party to any ongoing litigation/proceedings for economic offences or statutory regulations or alleging criminal/civil offence (including past cases, if found guilty) before any statutory or regulatory authority/ court/ tribunal, nor are any show cause notices pending against any of them;

b. neither our Company, nor any director of our Company was party to any past proceedings where any penalty was imposed;

c. there have been/are no defaults to financial institutions/ banks, non-payment of statutory dues and dues towards instrument holders like debenture holders, fixed deposits, and arrears on cumulative preference shares by the Promoters of our Company and the companies/ firms promoted by the Promoters of our Company; d. our Company has not failed to pay any statutory dues;

e. no disciplinary action has been taken against the Promoters of our Company by the Securities and Exchange Board of India or any Stock Exchange in India; and

f. none of the names of the directors of our Company have appeared on the RBI's defaulters list.

g. There are no outstanding litigations, defaults, etc., pertaining to matters likely to affect operations and finances of the Issuer company and its subsidiaries , including disputed tax liabilities, prosecution under any enactment in respect of Schedule XIII to the Companies Act, 1956 (1 of 1956) etc..

h. There are no cases of pending litigations, defaults, etc. in respect of companies/ firms/ ventures with which the Promoters were associated in the past but are no longer associated;

i. There are no pending proceedings initiated for economic offences against the Promoters, companies and firms promoted by the Promoters;

j. There are no past cases in which penalties were imposed by the concerned authorities.

k. There are no pending litigations, defaults, non payment of statutory dues, proceedings initiated for economic offences/ civil offences (including the past cases, if found guilty), any disciplinary action taken by the Board/ stock exchanges against the Promoters and their other business ventures (irrespective of the fact whether they are companies under the same management with the issuer company as per section 370 (1B) of the Companies Act, 1956)

2. There are no small scale creditors to whom our Company owes a sum exceeding Rupees one lakh which is outstanding for more than thirty days.

The details of the relevant proceedings have been classified as follows:

The list provided below indicates the current position of the legal matters related to the company/group companies outstanding before the various courts/juridical authorities. No case has been filed by the Company and the Group companies except as under:

Court /Department Reference Background Current Status A AGAINST THE COMPANY

1. Delhi Stock Exchange

Limited

DSE has imposed a penalty of Rs.20,000 /- on the

Company for non-

submission of proof of publication of notices of Board Meetings of the Company for the years 2003 and 2005. DSE has also imposed a penalty of Rs.5,000/- on the Company for non-compliance of Clause 24(f) of the listing agreement with DSE.

The Company has paid the aforesaid sums to DSE on 17th January 2006.

2 Refer to B below Refer to B below

Refer to B below Refer to B below

B BY THE COMPANY 1. AML STEEL LIMITED

High Court of Madras against the Customs, Excise and Service Tax Appellate Tribunal and others Writ Petition No. 20275 of 2005

The subject matter of the instant case is that the Company had imported three consignments of heavy melting scrap in the form of old rusted pipes from Middle East. During the clearance of the goods, the custom authorities considered the melting scrap are usable pipes and therefore, held that the same cannot be treated as melting scrap and subsequently levied differential duty on AML.

The total liability arising out of the instant case is 21,66,687/- (Differential duty Rs. 13,66,687 + Redemption fine Rs. 6,00,000 + Penalty Rs. 2,00,000). While the differential duty has already been adjusted against the deposit made by the

Company during

investigation, the Company had provided a Bank Guarantee for the amount of the penalty and fine. The Company has filed Writ Petition No. 20275 of 2005 in the High Court of Madras against the Commissioner of Customs and others. The Company has got an interim order in its favour, staying the operation of order passed by the Tribunal, after furnishing a bank guarantee for a sum of Rs. 15 Lakhs from the High Court. The case is still subjudice.

2. AML STEEL LIMITED High Court of Madras against the TN Taxation Special Tribunal and others

Writ Petition Nos. 5257 and 5258 of 2004

TN Taxation Special Tribunal rejecting the claim of the company claiming benefits under Interest Free Sales Tax Deferral for its unit situate

at Gummidipoondi

expansion unit.

The Company has initiated Writ Petitions in the Madras High Court being 5257 and 5258 of 2004 against the orders of the TN Taxation Special Tribunal and others including seeking stay on the demands made against it and recovery proceedings initiated against the Company. The High Court has granted an interim order in the Company’s favour staying the demands made and recovery proceedings against the Company, on the the Company paying a sum of Rs. 50 Lakhs to the Commercial Tax Officer, Pooneri (the 1st Respondent in the Petitions), which has been paid by the Company.The High Court has also restrained the Company from alienating, encumbering or dealing with the properties of the Company until further orders of the Court. The case is still subjudice

Search and Seizure Operation by Income Tax Authorities

As per information received from the Company there are no search and seizure operations conducted by the Income Tax Authorities.

Outstanding Litigation Involving Our Directors and Our Subsidiaries

There are no contingent liabilities, which require provisioning in the accounts, outstanding litigation, disputes, non-payment of statutory dues, overdues to banks/financial institutions or proceedings initiated for any economic/civil/criminal/any other offences against any of our Directors and our subsidiaries.

2. Material Developments

In the opinion of the Board of Directors, there has not arisen, since the date of the last financial statements disclosed in this DRHP, any circumstance that materially or adversely affect or are likely to affect the profitability of the Company and its subsidiaries taken as a whole or the value of their consolidated assets or their ability to pay their material liabilities within the next twelve months.

LICENCES AND APPROVALS

Subject to the renewals of approvals and licences as listed below, we can undertake this Issue as well as our current business activities and no further major approvals are required from any Government authority for us to continue our activities.

Approvals Received:

1. AML Steel Limited (Formerly Ashok Magnetics Limited), Pondicherry.

1. Central Sales Tax Registration Certificate No. 10611 dated 27.07.1995. 2. Pondicherry Sales Tax Registration Certificate No. D1/103959/95-96.

3. Permanent Registration Certificate as a Small Scale Unit, No. 590306083 dated 02.04.1998 by the Director of Industries, Government of Pondicherry.

4. Factory License No. PNC-052 valid till 31.12.2005. We have applied for renewal of the same vide our application dated 16 December, 2005.

5. Acknowledgement receipt from Electricity Department, Government of Pondicherry dated 22.11.2005 for receipt of security deposit of Rs. 2, 41,700.00 from Ashok Magnetics Limited. 6. Licence under the Pondicherry Village and Commune Panchayats Act, 1973, No. 43-356/98-

Lic./Net-CP, dated 11.02.1998 granted by the Office of the Commissioner, Nettapakkam Commune Panchayat, Nettapakkam, Pondicherry. The licence has been renewed till 31.03.2006. 7. Air Consent (Renewal) Order by the Department of Science, Technology and Environment,

Pondicherry Pollution Control Committee, No. PPCC/CON/AIR/NCP/JE-II/2004/2115 dated 29.07.2004.We have applied for renewal of the same by our application dated 09.09.2005, which is pending approval.

8. Acknowledgement from the Secretariat of Industrial Assistance, Ministry of Commerce & Industry dated 13.11.1995 for receipt of Industrial Entrepreneur Memorandum in favour of Ashok Magnetics Limited. We have applied for change in the name of the Company from Ashok Magnetics Limited to AML Steel Limited and increase in the capacity of production from 30000 TPA to 45000 TPA vide our application dated 11.02.2006.

9. Certificate of Incorporation No. L30007TN1993PLC024842, from the Registrar of Companies and subsequent change of name to AML Steel Limited on 01.08.2005.

10. Permanent Account Number (‘PAN”) AAACA4304Q dated 16.04.1993/Tax Deduction Account Number (‘TAN”) No. CHEA01359B.

11. Certificate of Employer Registration Certificate under the Employees Provident Fund Act No. TN/PC/923 dated 14.09.1999.

12. Certificate of ESI Registration dated 13.02.2002 vide Code No. 55-21743-56.

13. Central Excise Registration certificate dated 30.12.2003 vide Registration No. AAACA4304QXM002.

14. IE Code Certificate dated 20.10.1993 and IE Code No. 0493018344 has been allotted. We have made an application for issuance of a new certificate in the present name of the Company (pursuant to its change in name), on 30 01.2006.

15. Service Tax Registration Certificate No. GTA/334/2005/PONDY dated 25.05.2005.

16. Permission from Pondicherry Planning Authority dated 17.07.1996 under Pondicherry Building Bye-Laws and Zoning Regulations 1972 to erect industrial building.

17. Certificate of stability dated 07.12. 2004 for factory building.

18. Letters dated 29.11.2002, 16.12.2002 and 23.10.2003 bearing reference numbers Ref. No. EC.CO.OID 2805/19.01.328/ 2002-2003, Ref. No. EC.CO.OID 3176/19.01.331/ 2002-2003 and Ref. No. EC.CO.OID 2744/19.01.328/ 2003-2004 by the Reserve Bank of India, Exchage Control Department, Central Office, Overseas Division in favour of AML Steel Limited noting the investment of AML Steel Limited of a sum of US $5,45,000 in its Wholly Owned Subsidiary ASIPL (previuosly known as Maruti Steels Private Limited) in Sri Lanka under the Automatic Route and allotting Identification No. MAWAZ20020303 to the said investment.

2. Ankit Ispat Private Limited, Karaikal, Pondicherry

AIPL has two (2) units, both co-located, however the two (2) units were previously EGPK Steels Limited and Elango Industries Limited (erstwhile Elango Steels Limited) respectively and their assets were subsequently taken over by AIPL.

1. Approval letter from Directorate of Industries & Commerce, Government of Pondicherry dated 21.10.2003 to Ankit Ispat Private Limited for purchase and take over of assets of EGPK Steel Limited.

2. Approval letter from Directorate of Industries & Commerce, Government of Pondicherry dated 19.01.2004 to Ankit Ispat Private Limited for purchase and take over of assets of Elango Industries Limited.

3. Central Sales Tax Registration Certificate No. 1999/KRC dated 11.11.2003 for Ankit Ispat (P) Limited (Unit II) and Certificate No. 2036/KRC dated 5.03.2004 for Ankit Ispat Private Limited (Unit I).

4. Pondicherry Sales Tax Registration Certificate No. 403275 dated 11.11.2003 for Ankit Ispat Limited (Unit II) and Certificate No. 403320 dated 5.03.2004 for Ankit Ispat Private Limited (Unit I).

5. Permanent Registration Certificate as a Small Scale Unit, No. 590101663 dated 27.07.1998 by the Director of Industries, Government of Pondicherry in favour of EGPK Steels Limited and subsequently endorsed by the Director of Industries & Commerce, for change in name to Ankit Ispat Private Limited (Unit –II).

6. Certificate from Industries Department, Government of Pondicherry dated 6.01.2000 exempting EGPK Steels Limited from payment of sales tax for a period of ten years i.e. till 27.07.2008, exemption from payment of earnest money and security deposit in respect of tenders called for by Government Departments, Pondicherry and price preference of 15% for supply of stores to Government Departments.

7. Permanent Registration Certificate as a Small Scale Unit, No. 590101566 dated 11.11.1994 by the Director of Industries, Government of Pondicherry in favour of Elango Steels Limited and subsequently endorsed by the Director of Industries & Commerce, for change in name to Elango Industries Limited and subsequently to Ankit Ispat Private Limited (Unit –I).

8. Certificate from Industries Department, Government of Pondicherry dated 24.05.1995 exempting Elango Steels Limited from payment of sales tax for a period of ten years i.e. till 11.11.2004, exemption from payment of earnest money and security deposit in respect of tenders called for by Government Departments, Pondicherry and price preference of 15% for supply of stores to Government Departments.

9. Factory License No. FA 7331 in favour of Elango Industries Limited, transferred in favour of Ankit Ispat Private Limited (Unit – I)

10. Factory License No. FA 7481 in favour of EGPK Steels Limited transferred in favour of Ankit Ispat Private Limited (Unit – II).

11. Letter from Electricity Department, Government of Pondicherry dated 04.08.2004 acknowledging change of name from Elango Industries Limited to Ankit Ispat Private Limited (Unit-I).

12. Letter from Electricity Department, Government of Pondicherry dated 20.07.2004 acknowledging change of name from EGPK Steels Limited to Ankit Ispat Private Limited (Unit-II).

13. Acknowledgement receipt from Electricity Department, Government of Pondicherry dated 2.08.2004 for receipt of security deposit of Rs. 5,66,000/- from Ankit Ispat Private Limited (Unit- I).

14. Acknowledgement receipt from Electricity Department, Government of Pondicherry dated 12.04.2004 for receipt of security deposit of Rs. 7, 35,000/- from Ankit Ispat Private Limited (Unit-II).

15. Letter from Office of Superintendent of Central Excise, Karaikal dated 30.10.2003 certifying installation of 3 tonne induction furnace by Ankit Ispat Private Limited (Unit-II) having central excise registration certificate No. AAECA3639EXM001.

16. Letter from Office of Superintendent of Central Excise, Karaikal dated 23.06.2004 certifying installation of 3 tonne induction furnace by Ankit Ispat Private Limited (Unit-I) having central excise registration certificate No. AAECA3639EXM002.

17. Licence under the Pondicherry Village and Commune Panchayats Act, 1973, No. TRP- CP/A4/16/94, dated 22.11.1994 granted by the Office of the Commissioner, T.R. Pattinam Commune Panchayat, T.R. Pattinam in favour of Ankit Ispat Private Limited (Unit – I).

18. Licence under the Pondicherry Village and Commune Panchayats Act, 1973, No.TRP- Cp/A4/26/99, dated 1.12.1999 granted by the Office of the Commissioner, T.R. Pattinam Commune Panchayat, T.R. Pattinam in favour of Ankit Ispat Private Limited (Unit – II).

19. Air Consent (Renewal) Order by the Department of Science, Technology and Environment, Pondicherry Pollution Control Committee, No. PPCC/CON/AIR/KKL/JEII/2005/2699 dated 20.09.2005 in favour of Ankit Ispat Private Limited (Unit –II). We have applied for renewal of the same.

20. Water Consent (Renewal) Order by the Department of Science, Technology and Environment, Pondicherry Pollution Control Committee, No. PPCC/CON/WTR/JEII/KKL/2005/2698 dated 20.09.2005 in favour of Ankit Ispat Private Limited (Unit –II). We have applied for renewal of the same.

21. Air Consent (Renewal) Order by the Department of Science, Technology and Environment, Pondicherry Pollution Control Committee, No. PPCC/CON/AIR/KKL/JEII/2005/2697 dated 20.09.2005 in favour of Ankit Ispat Private Limited (Unit-I). We have applied for renewal of the same.

22. Water Consent (Renewal) Order by the Department of Science, Technology and Environment, Pondicherry Pollution Control Committee, No. PPCC/CON/WTR/JEII/KKL/2005/2696 20.09.2005 in favour of Ankit Ispat Private Limited (Unit-I). We have applied for renewal of the same.

23. Acknowledgement from the Secretariat of Industrial Assistance, Ministry of Commerce & Industry dated 23.04.2004 for receipt of Industrial Entrepreneur Memorandum for manufacture of mild steel ingots in favour of Ankit Ispat Private Limited (Unit-I).

24. Acknowledgement from the Secretariat of Industrial Assistance, Ministry of Commerce & Industry dated 16.12.2003 for receipt of Industrial Entrepreneur Memorandum for manufacture of mild steel ingots in favour of Ankit Ispat Private Limited (Unit-II).

25. Letter from Department of Science, Technology and Environment, Pondicherry Pollution Control Committee dated 02.12.2003 certifying amendment of name of EGPK Steels Limited to Ankit Ispat Private Limited (Unit-II).

26. Letter from Department of Science, Technology and Environment, Pondicherry Pollution Control Committee dated 11.03.2004 certifying amendment of name of Elango Industries Limited to Ankit Ispat Private Limited (Unit-I).

27. Permanent Account Number (‘PAN’) AAECA3639E and TAN No. CHEA08972F. 28. Registrations under the Employees Provident Fund Act vide Code No. TN/PC/1363. 29. Registration with the Employee’s State Insurance Corporation vide code no. 55-21525-67. 30. IE Code Certificate dated 23October, 2003 and IE Code allotted is 0403019087.

31. Certificate of stability dated 31 December, 2004 for factory buildings of Ankit Ispat Private Limited (Unit-I).

32. Certificate of stability dated 31 December, 2004 for factory buildings of Ankit Ispat Private Limited (Unit-II).

33. Central Excise Registration Certificate No. AAECA3639EXM002 dated 06.01.2004 for Ankit Ispat Private Limited (Unit-I).

34. Central Excise Registration Certificate No. AAECA3639EXM001 dated 28.10.2003 for Ankit Ispat Private Limited (Unit-II).

35. Certificate of Registration (No. AAECA3639EST 002) for Ankit Ispat Private Limited (Unit-I) under Section 69 of the Finance Act, 1994 granted by Office of the Assistant Commissioner of Central Excise dated 26.05.2005.

36. Certificate of Registration (No. AAECA3639EST 001) for Ankit Ispat Private Limited (Unit-I) under Section 69 of the Finance Act, 1994 granted by Office of the Assistant Commissioner of Central Excise dated 26.05.2005.

3. Ashok Steel Industries Private Limited, Colombo, Sri Lanka

1. _{Certificate of Incorporation No. 28684, dated 25.06.2001 from the Registrar of Companies, Sri} Lanka for Maruthi Steel Private Limited.

2. _{Approval by the Board of Investment of Sri Lanka dated 19.09.2002, for sale and transfer of} Maruthi Steel Private Limited to Ashok Magnetics Limited, Chennai, India.

3. _{Environmental Licence No. 00920 (RO), dated 25.04.2003 from Director General, Central} Environmental Authority, Sri Lanka in favour of Maruthi Steel Private Limited. The license is valid till 24.04.2006.

4. _{Taxpayer Identification Number (‘TIN’) Certificate No. 114286842 dated 08.04.2004 from the} Commissioner General of Inland Revenue in favour of Ashok Steel Industries Private Limited.

5. _{Certificate of VAT registration No. 114286842-7000 dated 08.04.2004 from the Deputy} Commissioner (VAT) in favour of Ashok Steel Industries Private Limited.

6. _{Certificate of Employer Registration Certificate under the Employees Provident Fund Act, 1958,} No. 11499-IJ dated 05.10.2001 from the Assistant Commissioner of Labour in favour of Maruthi Steels Private Limited.

7. _{Certificate of Change of Name from Maruthi Steel Private Limited to Ashok Steel Industries} Private Limited dated 19.01.2004 from the Registrar of Companies, Sri Lanka.

4. AML Steel & Power Limited, Saraikela - Kharsawan, Jharkhand

1. Approval for plant and factory layout by Inspector of Factories, Jharkhand dated 24.10.2005. 2. Sanction letter for 200 KVA for factory by Jharkhand State Electricity Board, Chaibasa Electrical

Circle dated 22.09.2005.

3. Acknowledgement receipt from Jharkhand State Electricity Board dated 08.10.2005 for receipt of Rs. 1,50,000/- as security deposit.

4. No Objection Certificate from Jharkhand State Pollution Control Board (Ref. No. N-403) dated 27.06.2005 for the sponge iron unit of the Project and No Objection Certificate from Jharkhand State Pollution Control Board (Ref. No. N-566) dated 17.12.2005 for the iron ore mining operations in connection with the Project.

5. Licence from the Government of Jharkhand under the Factories Act 1948, which was valid till 31.12.2005. The company has applied for renewal of this licence.

6. Registration under the Bihar Finance Act, 1981 for Commercial Tax. Certificate No.2/2005-06 and the same is valid from 20.09.2005 to 19.02.2006.

7. Central Excise Registration Certificate No. AAECA6090PXM001 dated 7.04.2005. 8. Central Sales Tax Registration Certificate No. CB-1536 dated 16.09.2005.

9. Certificate of Registration under the Bihar Finance Act, for Sales Tax. Registration No. CB 1179 dated 16.09.2005.

10. Acknowledgement from the Secretariat of Industrial Assistance, Ministry of Commerce & Industry dated 22.08.2005 for receipt of Industrial Entrepreneur Memorandum for manufacture of direct reduced iron and other spongy ferrous products in primary forms other than in the Integrated Steel Plants in favour of AML Steel & Power Limited.

11. Approval from Government of India, Ministry of Mines dated 16.08.2005 for grant of mining lease vide reference no. 5/8/2005-MIV.

12. Permanent Account Number (‘PAN”) AAECA6090P dated 14.01.2004.

13. Registration No. 69887/SBM dated 26.12.2005 from the Department of Labour and Employment, Government of Jharkhand.

Apart from the above AMLSPL has also made application for the following licences / approvals which are pending ;

1. Application dated 06.01.2006 to the Ministry of Environment and Forest for the clearance for operation of mines in an area of 383.54 acres in Jharkhand .

AMLSPL is yet to apply for the following licences/ registrations from the Government of Jharkhand / Central Government for the Project:

(i) Consent to operate under the Water (Prevention & Control of Pollution) Act, 1974 and Air (Prevention & Control of Pollution) Act, 1981.

(ii) Tax Deduction Account Number (‘TAN”). (iii) Service tax registration.

(iv) Registration under the Employees Provident Fund Act, 1948. (v) Registration with the Employee’s State Insurance Corporation.

AMLSPL shall be applying for the above-mentioned approvals/licences as the work at the Project site progresses.

OTHER REGULATORY AND STATUTORY DISCLOSURES Authority for the Issue

The current Issue has been authorised by shareholders vide a special resolution adopted pursuant to Section 81(1A) of the Companies Act, passed at the Annual General Meeting held on 19 July, 2005.

Prohibition by SEBI

Our Company, Directors, Promoters, other companies / entities promoted by our Promoters, and companies/entities with which our Directors are associated with as directors, have not been prohibited from