- Cybertech Systems And Software Limited was incorporated on 19th
January, as a Public Limited Company under the Companies Act, 1956, and
the Certificate for Commencement of Business was obtained from the
Registrar of Companies, Maharashtra, on 31st January.
- The Company is promoted by Mr. Prasad Rao Vellaturi, Mr. Vishwanath
Tadimety and Mr. Atul Agrawal, Technmocrat NRI's, based in USA and Mr.
- The main object of the Company is to undertake software development
for overseas market. The objects of the business venture is to have a
base in India which would enable the company to tap the Indian market
for software professionals and undertake software development for
overseas clients and others.
- The company proposes to provide on-site technical services at the
client's location (basically in the U.S.A.), undertake turnkey projects
and develop operations in India.
- The Company has set a 100% Export Oriented Unit, at Mumbai, for
providing on-site services in software development for domestic and
- The Company has also set up an Advanced Learning Center based in
- The company proposes to offer both onsite services and offshore
services to overseas clients and expand its activities by undertaking
Software Exports, and introducing new and innovative products.
- The Company proposes to acquire additional space for its increasing
operations out of the issue funds.
- The Mumbai-based CyberTech Systems and Software Limited, a company
promoted by CyberTech International Corporation Inc is undertaking a
Rs.20 crore expansion to set up software development and training
- Cybertech Systems and Software Ltd is set to open a new software
centre at Thane, Greater Mumbai. The centre is aimed at addressing the
large requirements of CyberTech clients offshore projects in Y2K
conversion apart from internal training.
- The Company has also won an offshore software support engagement from
Unisys corporation of San Jose, California.
- During the year, the Company offered 1,565,500 Equity Shares of Rs.
10/- each for cash aggregating to Rs. 156.55 lakhs which included
1,262,500 Equity Shares of Rs. 10/- for cash at par to Indian Public
and firm allotment of 303,000 Equity Shares of Rs. 10/- each at a
differential premium of Rs. 20/- per share to NRIs.
- Kishanchand Spinning Mills Ltd., became the wholly owned subsidiary
of the Company.
- The Board of Directors on June 19, allotted 52,56,500 Equity Shares
of Rs. 10/- each of the Company for cash at a premium of Rs. 100/- to
CyberTech International Corporation, USA on preferential basis, in
terms of approval of the members at the Extraordinary General Meeting
of the Company held on March 21st.
- Cybertech Systems and Software Ltd, a 51 per cent subsidiary of
Cybertech International Corporation, US, is looking at acquisitions for
future growth. The company has earmarked Rs 50 crore (Rs 500 million)
for the same.
- The company recently entered into a tie-up with SAP Arabia to provide
technical and functional services to SAP customers in the middle-east.
- Cybertech Systems and Software (CSSL), a subsidiary of the US-based
Cybertech Systems Inc., is the leading player in ERP (SAP)
- CYBERTECH Systems & Software Ltd has acquired the Bangalore-based
software company, Equinox Solutions India Pvt Ltd, the company said in
a communique to the BSE.
- The media division will launch web-based products and service for
independent Internet users as well Internet based products and
solutions for corporate clients.
- CyberTech Systems and Software is developing a website which will
provide e-commerce, on-line shopping, 24-hour news, finance and
- The company had recently launched its new business unit, The New
Media Division, to launch web-based products for independent users as
well as corporate clients.
- The company is setting up an application service centre to cater to
the Indian corporate sector. The company has tied up with HariBhakti &
Co, a management consultant firm, to provide the domain knowledge for
- Mumbai-based CyberTech Systems and Software, a subsidiary of
CyberTech Systems Inc, is one such company, which is transiting from
catering to the parent's requirement of SAP professionals to providing
a suite of offshore software development services.
- CYBERTECH SYSTEMS and Software Ltd (CSSL) is planning to merge its
American parent, the $75m CyberTech System Inc (CSI), with itself.
- Cybertech has also set up 65,000 sq.ft software development centre at
a cost of Rs 21 crore near Mumbai, with a capacity to accommodate 700
- Cybertech Systems and Software Ltd (CSSL) will be merged with the
group's US subsidiary Cybertech Systems Inc, as part of its
- The company has also recently tied-up with SAP Arabia to provide
Enterprise Packaged Solutions in the middle east and is set to launch
its own portal 'indiaacross.com'. The company is also likely to
acquire more companies in e-commerce and networking solutions.
- The Company allotted 1,28,57,370 Bonus Equity Shares of Rs. 10/- each
on 1st April, and the paid-up Share Capital of the Company subsequent
to this allotment is Rs. 2316 Lacs.
- Hiperworld Cybertech Ltd., a Delhi-based e-commerce service provider,
is set to launch a WAP-enabled payment gateway product which will
enable users to make payments using their mobile phones.
2002-The Board of Directors of CyberTech Systems and Software Ltd at its meeting held on August 16, 2002 has approved purchase of 100% equity of CyberTech Europe (CTE) from CyberTech Systems Inc., making CTE a 100% wholly owned subsidiary of the company subject to regulatory requirements and fixation of price at the next Board Meeting.
-Cyber Tech Systems And Software Ltd has informed that Mr Suhas Wadivkar, Executive Director of the Company has retired from the services of the company on December 20, 2003.
A meeting of the BoD of the company is scheduled to be held on December 29, 2003, to consider appointment of Mr Vijay Talele, as an Additional Director and Executive Director of the Company, subject to the shareholder's approval in the forthcoming Annual General Meeting.
Mr Vijay Talele was appointed as an Additional Director and Executive Director w.e.f. January 1, 2004 for a period 3 years, subject to the approval of Shareholders at the AGM of the company.
The Resignation of Mr Prasad Rao, as Chairman & Director of the company was taken on record with immediated effect.
Appointed Mr Viswanath Tadimety as Chairman of the company with immediate effect.
-Cyber Tech Systems & Software Ltd has appointed Mr. Steven Jeske as an Additional Director.