News January 12, 2012

Noida, January 12, 2012: The meeting of Committee of Independent Directors for Open Offer is scheduled to be held on Monday, January 16, 2012 to discuss, analyse and give reasoned recommendations on the Open Offer given by Mr. Bhavook Tripathi for acquisition of 26% Equity shares of the Company pursuant to Public Announcement dated December 15, 2011 and Detailed Public Statement dated December 22, 2011 in accordance with the provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The said meeting of Committee of Independent Directors for Open Offer will be followed by a meeting of Board of Directors of the Company to discuss inter-alia the general business and operations of the company.