Dhanus Technologies Ltd. Company History and Annual Growth Details

Dhanus Technologies Limited (DTL) was promoted by Mr. A.D. Sudhindra,
Mr. V. Narayanaswamy and, Capt. D. Srinivasan. The Company was
originally incorporated on April 2, 1993 as Wantech Communications Private
Limited with the Registrar of Companies, Tamil Nadu, Chennai. The name of the
Company was changed to Dhanus E-Com Private Limited and a fresh certificate
of incorporation obtained on August 7, 2000 from the Registrar of Companies,
Tamil Nadu, Chennai.Subsequently, the Company was converted into a public
limited company on September 18, 2000 under section Sec. 44 of the
Companies Act, 1956 and the name was changed to Dhanus E-Com Limited.
The name of the Company was further changed to its present name Dhanus
Technologies Limited on June 25, 2004.

The Registered Office of the company is located at 6-B, Mena Kampala Arcade,
113/114,Theyagaraya Road, T. Nagar, Chennai 600 017.

The Registered Office of the Company was initially at 33, I Main Road, Karpagam
Gardens, Adyar,Madras 600 020. The Registered Office was shifted to 3, 3rd Cross
Street, Karpagam Gardens,Adyar, Madras 600 020 with effect from 27th December,
1996. The Registered Office was shifted to 6, 5th Street, Padmanabha Nagar, Ist
Floor, Adyar, Chennai 600 020 with effect from 12th July 2000. The Registered
Office was shifted to 15/3, Kalpana Castle, Lakshmi Colony, New Crescent Road,
T. Nagar, Chennai 600 017 with effect from 12th December 2003. The Office was
further shifted to 6-B, Mena Kampala Arcade, 113/114, Theyagaraya Road, T. Nagar,
Chennai 600 017 with effect from 17th May, 2004.

The Company successfully developed its own Communications Software on UNIX
platform the Unified Message Handling System server and client software.
The Unified MHS handled both PowerFax Store and Forward Fax customers and
PowerMail email service customers on the same port thus maximizing the capacity
utilization for the Company. This service was launched in Chennai, Tiruchirrapalli,
Mumbai and Bangalore and was well received by the corporate world both in the
private and public sector as well as MNCs.With Indians becoming global travellers
in increasing numbers, the Company developed a platform for offering a truly global
telecommunication solution to the Indian travellers - V-Tel the global card. V-Tel was
launched in 2004. V-Tel is a premium commercial product offering the global travellers
the ability to call to and fro from more than 210 countries.As part of its plans to enter
the ITeS space, the BPO business along with the assets and liabilities,and sales
customers of Enhanced Customer Care Private Limited, Chennai were taken over in
the year 2005. The BPO operations commenced in 2006 and currently have 85 seats,
which are proposed to be expanded in stages to 500 seats by end 2007.

Enhanced Customer Care Private Limited (ECC) Takeover

With a view to augmenting further growth and expansion and to tap the IT-ITeS
industry, the Company sought to operate a fully blended international call centre with
more than 100 customer service representatives, offering telemarketing and customer
support services like financial services, lead generation and telecommunications. The
assets, infrastructure and sales customers of a STPI unit named Enhanced Customer
Care Private Limited (hereinafter referred to as ECC),a Chennai based company, was
on offer for take over. The Promoters and the Promoter Group of Dhanus were not
connected to ECC in any manner prior to the MOU.The Board of Directors of the
Company at their meeting held on July 20, 2005 resolved to operate the BPO business
operations of ECC on a trial basis for a period not exceeding five months under
the guidance of ECC. The BPO/Call centre business with the customers of ECC
was to be continued by the Company. The Company was to carry out the billing
for the business with effect from August 1, 2005 for the said trial period.

It was also decided that if the operation of the BPO/Call centre business was found
satisfactory during the trial period, the Board would consider taking over the assets,
infrastructure and sales customers of the BPO operations of ECC. The Company entered
into a Memorandum of Understanding (hereinafter referred to as MOU)
with Enhanced Customer Care Private Limited on the August 4, 2005 for acquiring the BPO
operation of ECC. The salient terms and conditions of the MOU are as follows:

a) ECC was to merge its operations with the Company after the completion
of due diligence process at a valuation mutually arrived at.

b)The Company was to take over the assets and liabilities of ECC as
well as its overseas marketing operation.

c) Dhanus was to release the initial seed money to ECC for
clearing urgent liabilities of ECC,providing working capital/capital
expenditure funding for immediate expansion of seats from the current 40 to 100.

d).The Company was to assume the bank liabilities of ECC.

e).The Company was also to take over the software assets of ECC
at an appropriate valuation.

f) The agreement was for a period of one year after which both parties could
agree to extend the arrangement or terminate with a month's notice. Since the
operations during the trial run period were found satisfactory, it was decided that
the BPO/Call centre business of Enhanced Customer Care Pvt. Ltd. would be
taken over and the assets of ECC, which was a STPI unit, would be transferred
to Dhanus.

The Board of Directors at their meeting held on December 16, 2005 resolved that
the BPO/Call centre business of ECC would be taken over with the assets and
infrastructure, sales and customers and the division would be named Dhanus BPO
Division.It was also resolved that the BPO/Call centre business of Dhanus BPO
Division would be operational from 4B Mena Kampala Arcade, 113-114, Sir
Theyagaraya Road, T. Nagar, Chennai 600 017with effect from January 1, 2006.
However, the flagship service of the Company is aimed at the heart of India's
economic growth Logistic operators. A Fleet and Vehicle tracking and management
service, FleeTrac. FleeTrac is an integrated tracking, communication, monitoring and
enterprise management product for vehicle owners.

Dhanus has since emerged as a Company specializing in Telecom & Networking
Services, Business Process Outsourcing and related software products & services.

Pre-IPO Placements

The Company, on 08.08.2007, completed pre IPO private placements of 3,65,000
Equity Shares of Rs.10 each directly to certain Foreign Institutional Investor, Body
Corporate and resident high net worth individuals, and raised Rs. 1091.25 lakhs.
Details of the above investments are mentioned at page no. 21 of this Red Herring
Prospectus Major Events in the history of the Company are as follows:

Year Events

1993 Incorporated as Wantech Communications Private Limited on 2nd April, 1993
with the Registrar of Companies, Tamil Nadu, Chennai.

1996 Started software development, sales and consultancy and fax transmission
business.

1997 Commenced software for telecom solution and fax-over-net business.1998
Started getting recognition and obtained high profile clients like HUDCO, Bajaj,
Imperial Shipping, Transworld etc.

1999 Company succeeds in selling off the fax software work-in-progress developed by the
Company and starts diversification process by investing in R & D activities in the
proposed telecommunication project.

Started improving Unified Messaging Software and commenced development on
web-based platforms for E-com solution.

Established preliminary contracts with US and European aggregators and became an
exporter.

2000 Becomes a public limited company.

Commenced providing telecom and networking solutions for ITES.
Started selling soft-switch billing software.

2001 Started development work on debit card platforms for monitoring, billing, managing
and to route/terminate voice mail.

2002 Company acts as a sole distributor to the service providers of GSM Prepaid.

2003 Commenced work on global DID networking.

Commenced hardware installation and soft-switch configuration for V-tel.

2004 V-Tel Calling cards launched

2006 Company takes over BPO/Call centre business of Enhanced Customer Care and
commences operation in January 2006.

V-Tel Global calling cards targeting Indians travelling abroad crosses the 5 lakh mark.

Receives SE 1A rating, indicating high performance capability and high financial strength,
by Dun & Bradstreet Information Services India Pvt. Ltd. and National Small Industries
Corporation vide certificate No. D&B D-U-N-S Number: 65-005-6682 dated 27th February,
2006 in a Performance and Credit rating for Small Industries.

Launches Beta testing for FleeTrac MTU's.

Certified as ISO 9001:2000 compliant Company by Moody International Certification
Limited vide Certificate No. 29224 dated April 4, 2006 for its Quality Management System
in the areas of BPO, Telecom Services Voice/Non Voice, Information Technology,
Information Technology Enabled Services and Vehicle Tracking Systems (Logistics).

Becomes part of the Dun & Bradstreet Global Database vide certificate No. D&B
D-U-N-S Number: 65-005-6682 dated June 6, 2006 issued by Dun & Bradstreet
Information Services India Pvt. Ltd.

Forms a wholly owned US subsidiary named Dhanus Technologies Inc. in July 2006.

Dhanus Technologies Inc,. acquires Equity Shares of Mpingi Inc, a US company, thus
making it a wholly owned subsidiary.

Mpingi Inc., launches its broadband phone services in the US on 15th August 2006
formally and after testing their service thoroughly launches commercially in November
2006.

Obtained DOT license for operating Vehicle Tracking System by the Department of
Telecommunications, Government of India in October 2006.

Mpingi Inc., awards telemarketing and support contract to Dhanus BPO in October 2006.

Dhanus Technologies Inc, the wholly owned US subsidiary acquires property at 1208
E. Arques Ave, Unit 100 Sunnyvale California USA in November 2006.

2007

-Dhanus Technologies Ltd has appointed Shri. S Kalyanam, Retired Judge as an Additional Director of the Company.

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