Everest Organics Limited, a company with its registered office at Hyderabad, was incorporated on 19th February, 1993. The company has subsequently obtained the certificate of commencement of business on 17th March, 1993. The factory of the company is situated at Aroor Village, Sadasivpet Mandal, Medak district, A.P. The unit is eligible for incentives like State Subsidy, Sales Tax deferment and Power Tariff etc., as the unit is being located in Notified Backward Area. The main objects of the company is to carry on the business of manufacturing, selling of bulk drugs and formulations, which are fully set out in its Memorandum and Articles of Association and are also mentioned below in this prospectus. M/s Everest Organics Limited, envisages to set up a project with a total outlay of Rs.1850 lakhs for Manufacturing Bulk Drugs namely; Para Hydroxy Phenyl Clycine (PHPC) (totally an Import substitute), Omeprazole, Ciprofloxacin, at Aroor Village, Sadasivpet Mandal, Medak district, A.P. As per the schedule given in the project appraisal, the plant will go into Commercial Production by the end of September, 1995. However, the management is confident of implementing the project ahead of the timeframe given in the implementation schedule and starting Commercial Production by July, 1995, i.e.; 2 months ahead of schedule. 2020 - Everest Organics successfully develops Remdesivir API