We would like to inform you that the Company and SEBI have arrived at a settlement documented in order dated March 29 2019 in relation to certain alleged violations in connection with the issue of 67 99 945 global depository receipts as long back as in September 2002. We understand that the said settlement order has been placed by SEBI on its official website. We are yet to receive physical copy of said order from SEBI.
The settlement is without admission or establishment of guilt. A copy of the settlement order dated March 29 2019 is attached herewith for your information and records. The Company has paid the settlement charges of Rs. 1.14 crores on March 27 2019.
The Company does not believe that this order can be reasonably expected to have an impact on the financial position (other than on account payment of prescribed penalty) of the Company.