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Accelya Kale Solutions Ltd. Company History and Annual Growth Details

YEAR EVENTS
1986 - Kale Consumtants Private Limited was incorporated on September
25th under the Companies Act, 1956. The Company was a
partnership firm, registered in February, 1980, under the
Partnership Act, 1932, having its office at Pune. The Company
was promoted by technocrat entrepreneurs, Mr. Narendra Kale and
Mr. Vipul Jain

- A Memorandum of Understanding was signed on 20th September
between partners of KC and the promoters of KCPL.

1989 - The Company's product, InCare has won it the Young Consultants'
award from Indian ministry of Science and Technology.

1993 - Praxis a product for revenue accounting was launched at the IATA
Revenue Accounting in Montreal.

- The Company has developed the Plutus family of software products
a complete suite of software solutions for Banking Operations.

1997 - Kale Consultants Private Limited became a deemed Public Limited
Company on October 29th and was renamed as 'Kale Consultants
Limited'.

- The Company is ISO 9001 certified Company. The Company
specialises in solutions for service industries, particularly
Banking, Airlines and Healthcare industries.

- The Company has set-up offices/subsidiaries in major markets -
USA and Australia. The Company is building relationships with
strategic business parners in its's chosen vertical markets to
enable it to reach customers globally.

- The Company has created an Employees Welfare Trust ('Trust')
called 'Kale Consultants Limited Employees Welfare Trust' to
implement the Employee Stock Option Plan.

- Kale Consultant's Projects Units was set up as a separate
business unit to focus on opportunities to provide additional
value to its customers.

1998 - Kale Consultants NZ Limited was incorporated as 100% subsidiary
of Kale Consultants Limited.

1999 - The Company allotted 5,35,000 shares of Rs 10 each to the trust
for cash on June 23rd, at part. The Company has extended a loan
of Rs 53,50,000 to Trust to enable the Trust to purchase the
equity shares of the Company.

- Winbank is the latest offering of Kale Consultants. The product
was launched in May and it is a true off-the-shelf product for
retail branch automation.

- The company aims of making 'MADE AT KALE' the most popular brand
in the international market. And to achieve this, it had laid
down clear strategic plans.

- It has already set up subsidiaries in US, New Zealand and
Australia, beside an office in Europe. The company is also
interested in overseas acquisitions. Furthermore, it has
recently tied-up with Microsoft and plans similar tie-up with
other industry leaders.

- To expand its market size it had tied-up with Speedwing (a
division of British Airways PLC) as a marketing partner for its
products in airline division.

- It plans to introduce a new version of Plutus to meet the
host-centric bank automation requirements (integrating various
branches through a centralised system) and offer intranet based
solutions for MIS, credit monitoring and other essential banking
applications.

- Kale Consultants Ltd, the Mumbai-based product-focussed company
has launched four new Intranet software packages that are
directed towards improving overall performance efficiency of
large, multi-location organisations.

- The Intranet products -- Web Friday Reporting, Web CIS, Sahayak
and Web PMS -- have been tailored to the needs of the banking
industry, while introducing them at the 'India Internet World
'99' exhibition-cum-conference here.

- Kale Consultants is engaged in software product development and
support services in two niche areas in the
information-technology industry-banking and airlines. Its new
area of operation is the hospitality and healthcare segment.

- The company has set-up a Dedicated Conversion Center (DCC) in
India, to undertake projects for Year 2000 code correction and
testing. It has also developed a process-driven methodology to
ensure consistency, quality and productivity of these services.

- The Company has recently tied-up with Microsoft and plans similar
tie-up with other industry leaders.

- Kale Consultants Ltd, has launched four new Intranet software
packages that are directed towards improving overall performance
efficiency of large, multi-location organisations.

2000 - The company has launched RevERA -- an automated accounting
package for medium-sized airlines. And, the latest addition is
FareGAIN -- a revolutionary product that provides airlines the
capability to recover revenue losses due to violations of fare
conditions by travel agents.

- The company launched WINBANK, which is India's first shrink
wrapped product that covers all the core retail banking
functions.

- KCL has entered into a strategic alliance with the Eagle
Technology Group of New Zealand. The two companies work
together on application development projects particularly in
e-commerce and web technologies.

- KCL has also signed a strategic partnership agreement with
Technology one, a leading Australian IT firm, which develops
and distributes financial management and accounting softwares.

- Australian firm, Technology One and the Pune-based Kale
Consultants have joined hands to develop new products and
solutions in new technologies in the country.

- Kale Consultants, announced a strategic alliance with Atraxis, a
100 per subsidiary of Swissair.

- KCL has entered into a strategic alliance with the Eagle
Technology Group of New Zealand. The two companies work
together on application development projects particularly in
e-commerce and web technologies.

- KCL has also signed a strategic partnership agreement with
Technology one, a leading Australian IT firm, which develops
and distributes financial management and accounting softwares.

- Australian firm, Technology One and the Pune-based Kale
Consultants have joined hands to develop new products and
solutions in new technologies in the country.

- Kale Consultants, announced a strategic alliance with Atraxis, a
100 per subsidiary of Swissair.

- The Company has acquired 30 per cent stake in healthars.com, a
US-based Internet company dealing in healthcare solutions.

- The Company has entered into an agreement to set up a joint
venture company with Malaysia-based Syarikat Pesaka Antah.

- The Company has acquired the key assets of Speedwing, the
independent operating division of British Airways Plc.

- The Company has entered into an agreement to set up a joint
venture with Syarikat Pesaka Antah, Malaysia.

- The Company signed a contract with the Dar-Es-Salaam Airport Handling
Company Ltd. (Dahaco) for the supply of a cargo software called 'Mercury'.

2002-Ninad Umranikar appointed as Company Secretary of Kale Consultants.

-Kale Consultants Ltd has informed that at the AGM of the Company held on September 30, 2002 the members passed a resolution that Dr S H Kale be not reappointed and that the vacancy caused due to the retirement of Dr S H Kale be not filled in.

2003-) Sale of the Banking Products business to Onward Technologies Limited. The intimation regarding the sale of the Banking Products business was given to the Exchange on 1st October, 2003 immediately on signing of the MOU. The resolution under Section 293(1)(a) of the Companies Act, 1956 will be passed by Postal Ballot.

b) preferential allotment of equity shares / warrants to the promoters of the Company, subject to the approval of shareholders and to other statutory consents, sanctions and approvals, if any.

c) acquisition of Cognosys Software Private Limited, a company engaged in the development of software for the travel and transport industry, subject to the statutory consents, sanctions and approvals, if any. A separate press release is being sent to the Exchange with this letter.

d) forfeiture of 1,100 equity shares of the Company for non-payment of allotment money. The company had served final notice to the defaulting shareholders for payment of unpaid allotment money vide letter dated 16th August, 2003.

-- Mr PG Kakodkar has resigned from the BoD of the Company wef November 28, 2003

-Bags an outsourcing contract from Hellas Jet, a dynamic and contemporary European Airline, based out of Greece

2004

-Sobha acquires Kale's subsidiary

-Kale Consultants has launched CSP, an solutions for cargo operators

-Kale Consultants Ltd has informed that the company has bagged the contract from Kuoni India's Outbound Division, SOTC to develop a business application software solution for its Special Interest Tours (SIT) Unit

2010

- Kale Consultants, the leading solutions provider to Airline, Airport, Logistics and Travel

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