OREANDA-NEWS. December 7, 2011. The Company has informed the Stock Exchanges as under:

“Pursuant to Clause 30 and other applicable provisions, if any, of the Listing Agreement entered into with the Stock Exchanges, we would like to inform that Mr. Deepak Parekh has resigned from the Board of Directors of the Company.

Mr. Parekh’s association with the Company dates back to its formative years and the Company gained tremendously with his visionary leadership and valuable guidance all along his tenure as a Director of the Company. The Board acknowledges with a deep sense of gratitude Mr. Parekh’s enriching contribution to the growth of the Company.”