Status of Investor Complaints for the quarter ended September 30, 2008

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter 08

Complaints disposed off during the quarter 08

Complaints unresolved at the end of the quarter Nil

1. During the year, the Company has allotted:

a) 34,04,256 equity shares of Rs 10 each at a premium of Rs 84 per share in the name of the members of the Hardship Committee, constituted by Delhi High Court, pursuant to interim orders made under the Scheme of Arrangement & Compromise currently pending in the said High Court.

b) 36,11,610 shares of Rs 10 each at a premium of Rs 114.05 per share to promoters group companies on preferential basis on conversion of share warrants.

2. The above results were reviewed by the Audit committee and were approved and taken on record by the Board of Directors at its meeting held on December 27, 2008.

3. Previous year figures have been regrouped/re-arranged wherever necessary.

Rajan Nanda
Chairman