INDIABULLS

Indiabulls Financial Services Limited has informed the Exchange that shareholders of the Company have accorded their approval to the following at the extraordinary general meeting (EGM) of the Company held on May 26, 2006:(1) Approval u/s 81 (1A) of the Companies Act, 1956 for issue of further shares by international Offerings through a public issue of convertible securities / ADRs /GDRs and FCCBs convertible into equity shares of the company upto US $ 300 million.(2) Approval for investing company�s funds into its subsidiary Indiabulls Securities Limited up to an aggregate sum of Rs. 1000 cro

Indiabulls Financial Services Limited has informed the Exchange that as per section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by postal Ballot) rules, 2001, the consent of the shareholders for folowing purpose is required to be obtained by means of a postal ballot. (1) Special Resolution under Section 372A of the Companies Act, 1956, for giving loans to Indiabulls Securities Limited ("ISL") upto Rs. 1500 Crores. 2) Special Resolution under Section 372A of the Companies Act, 1956, to give any guarantee, or provide any security, in connection with the loa

8) Special Resolution under Section 372A of the Companies Act, 1956, to give any guarantee, or provide any security, in connection with the loan or loans made by any other person to, or to any other person by, Indiabulls Housing Finance Limited ("IHFL") upto Rs. 1500 Crores. 9) Special Resolution under Section 372A of the Companies Act, 1956, for giving loans to Indiabulls Capital Services Limited ("ICapSL") upto Rs. 300 Crores. 10) Special Resolution under Section 372A of the Companies Act, 1956, to give any guarantee, or provide any security, in connection with the loan or loans made by any

Indiabulls Financial Services Limited has informed the Exchange that Mr. Gagan Banga, Director of the Company has acquired 1,80,000 shares aggregating to 0.11% of the total paid up capital of Indiabulls Financial Services Limited on April 28, 2006. The mode of acquisition : Allotment (Under Employees Stock option Plan(ESOP) of the company. The shareholding of Mr. Gagan Banga after the said acquisition is 2,10,000 shares aggregating to 0.13% of the total paid up capital of Indiabulls Financial Services Limited.

Indiabulls Financial Services Limited has informed the Exchange that FMR Corp.and its direct and indirect subsidiaries and Fidelity International Limited and its direct and indirect subsidiaries has sold 3,761,846 aggregating to 2.33% of total share capital of Indiabulls Financial Services Ltd. as per the letter received by the Company on May 03, 2006. The shareholding of FMR Corp.and its direct and indirect subsidiaries and Fidelity International Limited and its direct and indirect subsidiaries after the said sale is 16,776,849 shares aggregating to 10.39% of the total share capital of Indiab

Indiabulls Financial Services Limited has informed the Exchange that the BoDs of the Company in its meeting held on May 1, 2006 have decided to convene an EGM of the Shareholders to be held on May 26, 2006 and have approved the notice to be sent to the Shareholders containing the agenda and the explanatory statement. The Board of Directors of the Company have decided to obtain the approval of the Members of the Company through Postal Ballot pursuant to Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 for loans and guarant

Indiabulls Financial Services Limited has informed the Exchange that at the meeting of the Board of Directors of the Company held on May 1, 2006 the following items were discussed and approved :- 1) The Board of Directors considered the proposal to transfer the real estate undertakings of the Company i.e. the Company's business, activities and operations pertaining to real estate construction -development and infrastructure projects including investments of the Company in Indiabulls Properties Private Limited, Indiabulls Real Estate Company Private Limited, Indiabulls Infrastructure Limited, I

Indiabulls Financial Services Limited has submitted to the Exchange a copy of the press release, dated, May 01, 2006, titled "INDIABULLS FINANCIAL SERVICS LIMITED BOARD APPROVES SCHEME OF DE-MERGER". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Indiabulls Financial Services Limited has informed the Exchange that SEBI has on April 27, 2006, passed an ex parte ad-interim order directing Indiabulls Securities Ltd amongst others not to deal in the securities market including IPOs till further orders. The Company has stated that the order against the Company is based on factually incorrect data which the company is contesting and is filing its objections / clarifications on April 28, 2006 to SEBI. The company is praying for reconsideration of the order and for immediate withdrawal of directions in so far as Indiabulls Securities Ltd is co

Indiabulls Financial Services Limited has informed the Exchange that pursuant to the ex parte interim order dated April 27, 2006 in the matter of Initial Public Offerings against Indiabulls Securities Ltd, the company had on April 28, 2006, appeared in front of Mr. G. Anantharaman, the Whole Time Member of SEBI to make oral and written submissions regarding receipt of 13,939 shares of TCS after its IPO from 559 different accounts. The 559 account holders who transferred the 13,939 TCS shares to Indiabulls Securities Ltd. transferred the shares in the CLIENT MARGIN ACCOUNT of Indiabulls Securit

Indiabulls Financial Services Limited has informed the Exchange that Kenneth Builders & Developers Private Limited has won the auction of 35.8 acres of Residential Land located in South Delhi offered in a public-private partnership project for a consideration of Rs 450.01 crores. The open auction was carried out by Delhi Development Authority (DDA). Kenneth Builders and Developers Private Limited, the company that won auction is owned 50% by a wholly owned subsidiary of Indiabulls Infrastructure Ltd. A wholly owned subsidiary of DLF Universal Ltd Owns the balance 50% of Kenneth Builders and De

Indiabulls Financial Services Limited has informed the Exchange that the BoDs of the Company at its meeting held on April 24, 2006, inter alia has recommended a Final Dividend of Re.0.30 per share (15% on the face value of Rs.2 per share) for the financial year 2005-06 subject to the approval of the Shareholders of the Company at the ensuing AGM of the Company. Further the Company has issued a press release dated April 24, 2006, titled "Indiabulls reports fiscal 2006 revenues of Rs.613.15 crores, YoY growth of 264%, and profits of Rs.253.36 crores, YoY growth of 347%. The details of the press

Indiabulls Financial Services Limited has informed the Exchange that the BODs of the Company at its meeting held on April 20, 2006 has allotted 12,00,000 Equity Shares of Rs.2/- each to the employees under its Employee Stock Option Plan - 2004.

Indiabulls Financial Services Limited has informed the Exchange that LNM India Internet Ventures Ltd (LNMIIVL) will acquire 8.2% stake In Indiabulls Credit Services Ltd, a majority owned subsidiary of Indiabulls Financial Services for approx Rs. 90 crores on behalf of Mr LN Mittal. LNMIIVL will pay a price of approx Rs.62 per share for both investing Rs 45 crores in the company and making secondary purchase of shares amounting to Rs 45 crores. Indiabulls Credit Services Ltd will issue 7,210,865 shares to LNMIIVL for an investment of approx Rs. 45 crores. LNMIIVL will hold a total of 14,421,730

Indiabulls Financial Services Limited has informed the Exchange that they have received a report from SMALLCAP World Fund, Inc., intimating about increase in its percentage holding owing to decrease in the paid up share capital of Indiabulls Financial Services Limited ("the Company") consequent to Buy-back of equity shares by the Company. Note: There has been no acquisition of shares. The percentage holding has increased only because of decrease in the paid up capital of the Company to Rs.320,450,756 from Rs.32,40,78,148 pursuant to the Buy-back of 1,813,696 Equity Shares of Rs.2 each by the C

JM Morgan Stanley Private Ltd has informed the Exchange that the Buy-back offer to the equity shares of Indiabulls from the open market through Stock Exchange route which opened on December 09, 2005 in terms of Public announcement dated November 30, 2005 ("PA"), closed on February 16, 2005. A copy of the Public announcement in this regard which appeared in the newspaper on February 18, 2006 shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Indiabulls Financial Services Limited has informed the Exchange that Merrill Lynch Capital Markets Espana SA SV alongwith PAC Merrill Lynch International has acquired 5,20,000 Equity Shares aggregating to 0.3245% of the total share capital of IndiaBulls Financial Services Limited on February 02, 2006. The mode of acquisition is through Market purchase of equity shares and the shareholding of Merrill Lynch Capital Markets Espana SA SV alongwith PAC Merrill Lynch International after the said acquisition is 8,414,678 Equity Shares aggregating to 5.252% of the total share capital of IndiaBulls Fin

Indiabulls Financial Services Limited has informed the Exchange that FIM Limited, a company incorporated in Mauritius and managed by Farallon Capital Management LLC based in San Francisco, USA, has bought 60% equity in Indiabulls Infrastructure Limited (IIL) for a consideration of Rs.150 million. Farallon Capital Management LLC is an investment advisor registered with the US Securities and Exchange Commission (SEC), managing over US $ 15 billion in private assets for some of the leading institutions. Institutional Investor magazine, leading international publication focused on Investment Manag

Citi Bank N.A. has informed the Exchange that Merrill Lynch Capital Mkt. Espana SA SV along with PAC:- Merrill Lynch International has acquired 5,20,000 shares aggregating to 0.324% of the total paid up capital of Indiabulls Financial Services Limited on February 02, 2006. The mode of acquisition is through Secondary Market Purchase and the shareholding of Merrill Lynch Capital Mkt. Espana SA SV along with PAC:- Merrill Lynch International after the said acquisition is 84,14,678 shares aggregating to 5.251% of the total paid up capital of Indiabulls Financial Services Limited.

Indiabulls Financial Services Limited has informed the Exchange that the Company has purchased and extinguished 18,13,338 shares on January 25, 2006 and 358 shares on January 31,2006.Consequent to the extinguishment of shares the paid up equity share capital of the Company stands reduced to 16,02,25,378 shares of Rs.2/- each.

JM Morgan Stanley Private Ltd has informed the Exchange that the BODs of Indiabulls Financial Services Limited, on January 27, 2006 have decided that Buy-back Offer be closed at the end of working hours of February 16, 2006 by giving at least 15 days notice to the stock exchanges and advertisement in the newspapers. A copy of the notice in this regard which appeared in the newspaper on January 30, 2006 in which Public Announcement appeared shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnoun

Indiabulls Financial Services Limited has informed the Exchange that the BODs on January 27,2006 have decided that buyback of equity shares from the open market through purchases in stock exchanges be closed at the end of working hours of February 16,2006 by giving at least 15 days notice to the stock exchanges and advertisement in the newspapers. The company has further informed that the following advertisement will be made in the same newspapers where the Public Announcement was made, on or before January 31,2006: "Notice is hereby given that the Board of Directors of the company at their me

Indiabulls Financial Services Limited has informed the Exchange the details of fully paid up Equity Shares purchased by the Company upto January 23, 2006 pursuant to the 'Public Announcement' made by the Company in accordance with the Regulation 15(i) of the SEBI (Buy Back of Securities) Regulations, 1998 as follows: Details of purchases: (1) Date of Purchase: January 23, 2006; (2) No. of equity shares purchased: Nil. Cumulative Nos. of shares purchased till date : 18,13,696. The Company has further informed that, as against the maximum permissible limit of Rs.38 crore, towards buy-back of sha

Indiabulls Financial Services Limited has informed the Exchange the details of fully paid up Equity Shares bought back by the Company on January 20, 2006 pursuant to the 'Public Announcement' made by the Company in accordance with the Regulation 15(i) of the SEBI (Buy Back of Securities) Regulations, 1998 as follows: Details of purchases: (1) Date of Purchase: January 20, 2006; (2) No. of equity shares bought: BSE: 4,00,250; NSE: 4,25,000. Total: 8,25,250. Cumulative number of shares bought back till date : 18,13,696.

Indiabulls Financial Services Limited has informed the Exchange the details of fully paid up Equity Shares bought back by the Company on January 19, 2006 pursuant to the 'Public Announcement' made by the Company in accordance with the Regulation 15(i) of the SEBI (Buy Back of Securities) Regulations, 1998 as follows: Details of purchases: (1) Date of Purchase: January 19, 2006; (2) No. of equity shares bought: BSE: 47,214; NSE: 1,41,232. Total: 1,88,446. Cumulative number of shares bought back till date : 9,88,446

Indiabulls Financial Services Limited has informed the Exchange the details of fully paid up Equity Shares bought back by the Company on January 18, 2006 pursuant to the 'Public Announcement' made by the Company in accordance with the Regulation 15(i) of the SEBI (Buy Back of Securities) Regulations, 1998 as follows: Details of purchases: (1) Date of Purchase: January 18, 2006; (2) No. of equity shares bought : BSE: 2,50,000; NSE: 5,50,000. Total: 8,00,000.

Indiabulls Financial Services Limited has informed the Exchange the details of fully paid up Equity Shares bought back by the Company on January 17, 2006 pursuant to the 'Public Announcement' made by the Company in accordance with the Regulation 15(i) of the SEBI (Buy Back of Securities) Regulations, 1998 as follows: (1) Date of Purchase: January 17, 2006; (2) No. of equity shares bought : NIL; (3) Average price per share: N.A.; (4) Total amount (Rs. in million): N.A.

Indiabulls Financial Services Limited has informed the Exchange regarding a press release dated, January 18, 2006, titled, "Indiabulls declares net profit of Rs. 71.7 crores for the quarter. Announces interim dividend of 25%." The details of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Indiabulls Financial Services Limited has informed the Exchange that the BODs of the company at its meeting held on January 18,2006,inter alia, has declared second interim dividend of Re.0.50 per share(25% on the face value of Rs.2 per share) during the F.Y. 2005-06.

Indiabulls Financial Services Limited has informed the Exchange the details of fully paid up Equity Shares bought back by the Company on January 16, 2006 (being the date of commencement of the Buy-back) pursuant to the 'Public Announcement' made by the Company in accordance with the Regulation 15(i) of the SEBI (Buy Back of Securities) Regulations, 1998 as follows: (1) Date of Purchase: January 16, 2006; (2) No. of equity shares bought : NIL; (3) Average price per share: N.A.; (4) Total amount (Rs. in million): N.A.

Indiabulls Financial Services Limited has informed the Exchange that Indiabulls Credit Services Limited, a majority owned subsidiary of the company and Indiabulls Financial Services Limited have signed share subscription and shareholders agreement with Farallon Capital and its affiliates (Farallon) for the purposes of a follow-on equity investment of Rs.890 million from Farallon in Indiabulls Credit Services Limited. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Anno

Indiabulls Financial Services Limited has informed the Exchange regarding: (1) Indiabulls subsidiaries attract 470 crores in equity capital; (2) Farallon invests 200 crores in Indiabulls subsidiaries at a valuation of 1260 crores and (3) Supreme Court allows 5 NTC buyers to raise construction and create third party rights on the mills as per the terms, conditions and FSI mentioned in the tender documents for the sale of 5 NTC mills. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Commo

Indiabulls Financial Services Limited had informed the Exchange regarding: (1) Indiabulls subsidiaries attract 470 crores in equity capital; (2) Farallon invests 200 crores in Indiabulls subsidiaries at a valuation of 1260 crores and (3) Supreme Court allows 5 NTC buyers to raise construction and create third party rights on the mills as per the terms, conditions and FSI mentioned in the tender documents for the sale of 5 NTC mills. The company has now submitted a revised notice regarding the same, details of which shall be available on the NSE website (http://www.nseindia.com) under: Corpora

Mr. Gagan Banga has informed the Exchange that he has sold 1,50,000 shares aggregating to .093% of the share capital of Indiabulls Financial Services Limited on December 09, 2005. The mode of sale is Market sale and the shareholding of Mr. Gagan Banga after the said sale is 30,000 shares aggregating to .019% of the share capital of Indiabulls Financial Services Limited and 7.2 lac options to be converted into 7.2 lac equity shares.

Indiabulls Financial Services Limited has informed the Exchange that Mr. Gagan Banga, Director of the Company has sold 1,50,000 shares aggregating to 0.093% of the share capital of Indiabulls Financial Services Limited on December 09, 2005. The shareholding of Mr. Gagan Banga after the said sale is 30,000 shares aggregating to 0.0185% of the share capital of Indiabulls Financial Services Limited and 7.2 lac options to be converted into 7.2 lac equity shares.

JM Morgan Stanley Private Limited, Manager to the buy back of fully paid-up equity shares by Indiabulls Financial Services Limited has informed the Exchange regarding the public announcement made by Indiabulls Financial Services Limited("Indiabulls" or the "Company") for the buyback("Buy-back") of its fully paid-up equity shares of face value of Rs.2/- each("Shares") from the existing owners of the Shares from the open market using the electronic trading facilities of the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE"),in accordance with the provi

The date of opening of the Buyback is December 09, 2005 and last date for the Buyback is November 17,2006(12 months from the date of the Board Resolution)or such earlier date as may be determined by the board, even if the maximum limit of Buyback of shares has not been reached ,by giving appropriate notice for such earlier date, if any, whichever is earlier from the date of passing of this Board Resolution. The details of the public announcement shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate

JM Morgan Stanley Private Limited has informed the Exchange that they have been appointed by Indiabulls Financial Services Limited("Indiabulls")as Manager to the buy back of fully paid-up equity shares by Indiabulls Financial Services Limited. Further,JM Morgan Stanley Private Limited has submitted a public notice published on November 19,2005 in terms of Regulation 5A(1)(A) of SEBI(Buy-back of Securities)Regulations,1998 . The details of the public notice are as follows: The BODs of Indiabulls Financial Services Limited("Indiabulls" or the "Company") at its meeting held on November 18,2005 ap

The buyback is expected to be completed within the statutory validity period of the resolution dated Nov 18,2005 passed by the BODs which at present is twelve months from the date of passing of the said resolution. The details of the public announcement shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Indiabulls Financial Services Limited has informed the Exchange that they have received a declaration on November 17, 2005 from SMALLCAP World Fund, Inc intimating that there is a change in percentage of their holding in Indiabulls Financial Services Limited, owing to sale of shares by them as follows: SMALLCAP World Fund, Inc has sold 535,000 shares aggregating to 0.330% of the share capital of Indiabulls Financial Services Limited on November 07, 2005. The mode of sale is Market sale and the shareholding of SMALLCAP World Fund, Inc after the said sale is 8,069,292 shares aggregating to 4.980

Indiabulls Financial Services Limited has submitted to the Exchange a copy of the resolution passed by the Board of Directors of the Company on November 18, 2005 approving the buyback of Company's fully paid-up equity shares of Rs. 2 each using "Open Market" purchase through stock exchanges. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Indiabulls Financial Services Limited has informed the Exchange that the Board of Directors of the Company in its meeting held on November 18, 2005, has approved the proposal for the buy back of equity shares of Rs. 2 each of the Company, to the extent of or less than 10% of the paid-up equity capital and free reserves of the Company, from the open market through the stock exchange route, at a price not exceeding Rs. 210/- per share, payable in cash, upto an amount not exceeding Rs. 380 Million.

Indiabulls Financial Services Limited has informed the Exchange that real estate arms and companies of Indiabulls Financial Services Limited(Indiabulls) have entered into purchase agreements to acquire in aggregate 100 acres of land for residential home-sites development near Delhi in accordance with the applicable laws. The land is located near Sonepat in the State of Haryana and is about 15 km from Delhi. The area is a upcoming suburb in the National Capital Region (NCR) which includes Delhi, Gurgoan and Noida. Indiabulls plans to develop a residential township with suitable commercial and r

Indiabulls Financial Services Limited has informed the Exchange that Company has received a declaration on November 02, 2005 from Goldman Sachs Investments (Mauritius)Limited vide their letter dated October 21, 2005 intimating that there is a change in percentage of their equity holding in Indiabulls Financial Services Limited owing to net disposal of shares by them, as per details given below: (1)Shareholding as at August 31,2005 (i.e the date of the last disclosure made by the declarant to the Company)is 8,321,661 shares aggregating to 5.14% of the total share capital of Indiabulls Financial

Indiabulls Financial Services Limited has informed the Exchange that at the meeting of Board of Directors held on November 03, 2005 the following decisions were taken :- 1) To appoint M/s. J M Morgan Stanley as the merchant banker and the financial advisor to the Company and M/s. Nishith Desai Associates as legal advisor to the Company ("Advisors") to give independent advice on the buy back. 2) To meet again within 15 days to consider the buy-back proposal upon receiving independent advice from Advisors and completion of audit of the financial accounts of the Company for six months period ende

Goldman Sachs Investments (Mauritius) I Limited has informed the Exchange that they have:1)Sold 5,864,735 shares(3.62%) of IndiaBulls Financial Services Limited and 2) Received 2,395,000 shares (1.48%) of IndiaBulls Financial Services Limited from conversion of DRs .The trade period is from September 01, 2005 to October 18, 2005. The mode of sale is Market sale and 2,395,000 shares were received on conversion of DRs. The shareholding of Goldman Sachs Investments (Mauritius) I Limited after the said transaction is 4,851,926 sharesrepresenting 2.99% of the capital of IndiaBulls Financial Servic

Indiabulls Financial Services Limited has informed the Exchange that Small Cap World Fund, Inc has acquired 460,000 shares aggregating to 0.284% of the share capital of Indiabulls Financial Services Limited on October 21, 2005. The mode of acquisition is Open Market and the shareholding of Small Cap World Fund, Inc after the said acquisition is 8,478,292 shares aggregating to 5.232% of the share capital of Indiabulls Financial Services Limited.

Indiabulls Financial Services Limited has given their clarification in context to various kinds of reports on Indiabulls Financial Services Ltd.and its subsidiaries appearing in the media and other places.The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Indiabulls Financial Services Limited has informed the Exchange that Income Tax department had visited 3 out of 129 offices of Indiabulls Securities Ltd under a survey for the purpose of third party verifications. Indiabulls Securities Ltd is one of the nine subsidiary companies of Indiabulls Financial Services Ltd. The Income Tax survey was related to collection of transactions and verification details of clients of Indiabulls Securities Ltd who have dealt in penny stocks. Most of such client accounts had been already shut down by Indiabulls Securities Ltd as a part of its internal due dilige

Indiabulls Financial Services Limited has informed the Exchange that FIM Limited, a company incorporated in Mauritius and managed by Farallon Capital Management LLC based in San Francisco, USA, has bought 60% equity in Indiabulls Real Estate Company Pvt. Ltd (IRECPL) for a consideration of Rs 51 million.Farallon Capital Management LLC is an investment advisor registered with the US Securities and Exchange Commission (SEC), managing over US $ 15 billion in private assets for some of the leading institutions. Institutional investor magazine, leading international publication focused on Investmen