Incorporated on 3 Nov.'92, Indo French Bio-tech Enterprises was promoted by Atul Bhagwati, R R Rayarikar, K C Bodiwala and MMTC. The company basically grows grapes, strawberry and plantations of bamboo, eucalyptus and teak. The fruits are processed and exported. The company has collaborations with Richter, France, and Impianti Brevetti Servizi, Italy, for technical know-how and with Agrexco Agricultural Export Company, Israel, for marketing. In Sep.'94, the company came out with a public issue to part-finance the expansion to cultivate an additional 200 acres of grapes and 200 acres of strawberries and to set up a pre-cooling and a cold-storage unit and a processing unit to process grapes into grape juice and raisins, strawberries into frozen strawberries, jams and squashes, and other fruits into concentrates. The company took over the entire pre-cooling and cold-storage unit and an imported refrigerated truck from the Hyderabad-based ITC. It sold its products abroad under the Carmel and Coral brands and in the local market as Hollywood Delight. The company has been referred to BIFR in 1999 and has been declared Sick by the Board.