BGFL

Birla Global Finance Ltd has informed the Exchange that the Scheme of Amalgamation between Birla Global Finance Limited (BGFL) and Aditya Birla Nuvo Limited (ABNL) (formerly Indian Rayon and Industries Ltd.) and their respective shareholders and creditors, has been sanctioned by the Hon'ble High Court of Gujarat at Ahmedabad vide its order dated June 17,2006. Further, the Scheme has already been sanctioned by Hon'ble Bombay High Court vide its Order dated January 27,2006.

Birla Global Finance Ltd has informed the Exchange that the Scheme of Amalgamation between Birla Global Finance Limited and Aditya Birla Nuvo Limited (formerly Indian Rayon & Industries Limited) and their respective Shareholders and creditors has been sanctioned by the Hon'ble Bombay High Court vide its order dated January 27, 2006. The Transferee Company viz. Aditya Birla Nuvo Limited has also filed the Scheme of Amalgamation between the Company and Aditya Birla Nuvo Limited before the High Court, Gujrat at Ahmedabad which is pending for sanction.

Birla Global Finance Ltd has informed the Exchange that at the Court Convened Meeting of the Equity Shareholders of the Company held on November 24, 2005, the shareholders have approved the Scheme of Amalgamation between Birla Global Finance Limited and Aditya Birla Nuvo Limited (formerly Indian Rayon and Industries Limited) with requisite statutory majority.

Birla Global Finance Ltd has informed the Exchange that the meeting of the Board of Directors of Birla Global Finance Limited ("the Company") was held on September 11, 2005, at which the proposal to amalgamate the entire business and undertaking of the Company into Indian Rayon And Industries Limited ("IRIL") in terms of a scheme of amalgamation under section 391 - 394 of the Companies Act 1956 was considered and approved. The proposed scheme of amalgamation provides that upon its sanction, the merger will take effect from the appointed date i.e. September 1, 2005 ("the Appointed Date"). All a

Birla Global Finance Ltd has informed the Exchange that the Bombay High Court has approved the Scheme of Arrangement of the Company with Birla Global Asset Finance Company Limited.

Birla Global Finance Ltd has informed the Exchange that the BODs at their meeting held on December 28,2004 has approved the merger of three(3) divisions (Hire Purchase/Lease Business, Capital Market Business and Corporate Finance Business) of Birla Global Asset Finance Company Limited, Subsidiary of the Company into itself, as per the Scheme of Arrangement.