We would like to inform you that Indian Bank (Formerly Allahabad Bank) have released pledge over 1,51,25,000 equity shares held by Promoter & Promoter Group of the Company (being 25.76% of total promoters' holding and 16.97% of paid-up capital of the Company), which were pledged as security for the credit facilities availed by the Company. Accordingly, after the release of pledge over aforesaid shares, entire shareholdings of Promoter & Promoter Group are free from any encumbrance and no equity share held by any of the Promoters in the Company is pledged as on date of this announcement. In this context, relevant disclosures in the prescribed formats have already been made to the Stock Exchanges, by the Promoter & Promoter Group, in terms of the provisions of Regulation 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This is for your information please.