BHAGYNAGAR

Bhagyanagar India Limited has informed the Exchange regarding Update on Reduction of Share Capital of the Company and Allotment of Equity Shares by Resulting Companies pursuant to Scheme of Arrangement.

Bhagyanagar India Limited has informed the Exchange that with the effect of the scheme of arrangement between M/s. Bhagyanagar India Limited and M/s Surana Telecom and Power Limited and M/s Bhagyanagar Properties Limited and their respective Shareholders and Creditors on January 23, 2017 the following Companies have been ceased to continue as Subsidiaries of Bhagyanagar India Limited w.e.f. April 01, 2016 (Appointed date): (i) Bhagyanagar Properties Limited (ii) Scientia Infocom India Private Limited (iii) Metropolitan Ventures India Limited.

Bhagyanagar India Limited has submitted to the Exchange a copy of Publication of Notice of Petition in newspapers.

Bhagyanagar India Limited has informed the Exchange the Company has filed its Application before the Hon'ble High Court of Judicature at Hyderabad for the State of Telangana and Andhra Pradesh for the Scheme of Arrangement Scheme of Arrangement between M/s.Bhagyanagar India Limited (Demerged Company) and M/s.Surana Telecom and Power Limited (1st Resulting Company) and M/s.Bhagyanagar Properties Private Limited (2nd Resulting Company) and their respective Shareholders and Creditors, we wish to state that the matter was heard by the Hon'ble High Court on April 25, 2016 and, inter alia, the follo

Bhagyanagar India Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on November 07, 2015 has approved a policy for determination of materiality of an event or information.

Bhagyanagar India Limited has submitted to the Exchange E-voting Information.

Bhagyanagar India Limited has informed the Exchange that the Company has commissioned its Solar Power Project of 5 MW Capacity at Munipally, Medak District, Andhra Pradesh.

Bhagyanagar India Limited has informed the Exchange that the Company has acquired further 14,72,600 Equity Shares of Rs. 10/- each in its subsidiary Company M/s. Solar Dynamics Private Limited.

Bhagyanagar India Limited has informed the Exchange that "the Company has acquired 74% of the paid up equity share capital of M/s. Solar Dynamics Private Limited having registered office at 5th floor, Surya Towers, S. P. Road, Secunderabad - 500 003. The said transaction completed on June 04, 2012. As a result, M/s. Solar Dynamics Private Limited has become a subsidiary of the Company."

Bhagyanagar India Limited has informed the Exchange that SEBI had vide its Order dated June 27, 2011 granted exemption to the promoters of the Company under regulation 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, for increase in their Shareholding from 64.08% to 73.70% incidental to proposed Buyback Offer for which the Company received members approval through postal ballot on March 10, 2011.

Bhagyanagar India Limited has informed the Exchange that the Company has completed the process of cancellation / extinguishment of 40 FCCB's each of US $ 1,00,000 aggregating US $ 4.0 million (Nominal Value) which are bought back by the Company at a discount as per the terms of the existing regulations of the Reserve Bank of India. Hence, the total outstanding FCCB's as on date is 100 FCCBs of US $ 1,00,000 each, aggregating US $ 10.0 million.

Bhagyanagar India Limited has informed the Exchange that: "M/s Fab city SPV (India) Pvt Ltd, a subsidiary of APIIC has made an made allotment of 25 Acers of land (initially 10 Acres and has reserved 15 Acres for future use) on lease in the Fab City, Hyderabad to the Joint Venture Company "M/s. Surana Ventures Ltd", jointly promoted by M/s. Bhagyanagar India Ltd & M/s. Surana Telecom and Power Ltd for setting up the Solar Photo Voltaic Cell and Module Projects. The JV company has made the payment of lease premium and is awaiting the possession of land. Further, the JV Company has placed firm or

Bhagyanagar India Limited has informed the Exchange that Smt. M. Sridevi, Company secretary of the Company has joined back after leave and resumed her services. Henceforth she is the Compliance Officer of the Company instead of Smt. K. Sudha Mayi, Asst Company Secretary who was earlier acting as Compliance Officer.

Bhagyanagar India Limited has informed the Exchange that "The Company has formed a Joint Venture Company in the name and Style of "M/s Surana Ventures Ltd" regarding setting up of Solar Photo Voltaic Cell and Module Project in Joint Venture with M/s. Surana Telecom and Power Limited. Further the Government through APIIC has made an inpriciple allotment of 25 Acers of land to the JV M/s. Surana Ventures Ltd in the Fab City, Hyderabad for setting up the above project".