ADHUNIK

Adhunik Metaliks Limited has informed the Exchange that the meeting of the Board of Directors of the Company was held on January 30, 2009. Mr. Makhan Lal Majumdar has been appointed as an Independent Additional Director on the Board of the Company on January 30, 2009. Further with reference to the merger, for which in-principle approval granted by Stock Exchange, the Hon'ble High Court at Calcutta directed for conducting an Extraordinary General Meeting of the Company on March 02, 2009 to discuss and finalise the scheme of merger.

Adhunik Metaliks Limited has informed the Exchange regarding the outcome of Board meeting held on October 27, 2008. The Board has noted the commercial raising and selling of iron ore from the mines of the Company's 100% subsiIiary. Further the board has also noted the commercial production of sinter plant and bloom caster. The Board has duly appoved the swap ratio for the proposed strategic merger of Vedvyas Ispat Limited and Sri. M.P.Ispat & Power Pvt. Ltd. with Adhunik Metaliks Limited. The shareholders holding 4 .43 shares of Vedvyas spat Limited shall get 1 share of Adhunik Metaliks Limit

Adhunik Metaliks Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on July 29, 2008 the Board in-principally approved merger/amalgamation of Vedvyas Ispat Limited and Sri M.P. Ispat & Power Pvt. Limited with Adhunik Metaliks Limited subject to finalization of the swap ratio and other formalities. M/s. Amarchand & Mangaldas & Suresh A. Shroff & Co. has been appointed as Legal Counsel and M/s S.R. Batliboi & Co. has been appointed as Financial Consultant. M/s. S. R. Batliboi & Co. has also been entrusted to review the valuation of the said Companies

Adhunik Metaliks Limited has informed the Exchange vide its letter dated September 21, 2007 that "The Board of Directors at its meeting held on 21st September 2007 has approved acquisition of majority stake holding in V Cube Forge (India) Limited".

Adhunik Metaliks Limited has informed the Exchange that: "The Company has acquired Orissa Manganese & Minerals Pvt. Limited as 100% subsidiary. OMM is a company having mining rights for reserves of 15.00 million tones for manganese ore and 35.00 million tones for iron ore. The Company plans manganese ore mining immediately and iron ore mining within a period of 3-6 months. The above mines do not have captive clause and the manganese ore and iron ore can be sold in the open market to various end users".