M/s Rahul Merchandising Limited was incorporated on March 9, 1993. The company obtained the Certificate of Commencement of Business on 15th April, 1993 from ROC Delhi & Haryana at New Delhi. The company has taken over the proprietorship concern M/s Rahul Industrial CorporatIon with effect from 1-12-1993. M/s Rahul Industrial Corporation was engaged in the business of garment export since 1985. Keeping in view the existence of other business ventures in the group in the same line of business, the main reason for promoting this company was to take over the business of Rahul Industrial Corporation so as to obtain all the export benefits, goodwill, registrations etc. available to Rahul Industrial Corporation. Rahul Industrial Corporation was a Government Recognised Export House and enjoyed the privileges and benefits available to an existing export business e.g. quotas, licences exemptions etc which play a very crucial role in this business. The main terms and conditions of the agreement for taking over Rahul Industrial Corporation by Rahul Merchandising Limited are: 1. Rahul Merchandising Ltd. (hereinafter referred to as Purchaser company) will take over the existing business of Rahul Industrial Corporation (hereinafter referred to as Vendor company) as on 1st December, 1993. 2. All assets, liabilities of Vendor company will be taken over by Purchaser company as on 1st December, 1993. The same will form part of the agreement. 3. The assets of Vendor Company shall be taken over by Purchaser Company at the written down value as per the Income-tax records. 4. Purchaser Company shall further be liable for the payments discharge and satisfaction of all the debts of the parties hereto incurred in connection with and/or arising out of the carrying of the said business of the firm Vendor Company. 5. Consideration for taking the assets and liabilities shall be paid to the erstwhile proprietor i.e. Mr. Suresh Mansharamani as per terms mutually agreed upon. 6. All expenses of this agreement shall be borne by the Purchaser Company. The company has taken over the following assets and liabilities belonging of Rahul Industrial Corporation as a going concern owned by Suresh Mansharamani as a sole proprietor with ertect from 1-12-93 as per the agreement dated 1-12-93 for a total consideration of Rs.297.56 lacs as under. 2012 -Company has changed the address : No. 18, Basement,NRI Complex,Greater Kailash Part-IV, New Delhi - 110019.