Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors (IDC) on the Open Offer to the Shareholders of Swadeshi Industries & Leasing Ltd ("Target Company") under regulation 26 (7) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations").