NOVOPANIND

Novopan Industries Limited has informed the Exchange that Board of Directors of the company based on the recommendations of merger sub-committee of the Board, at its meeting held on July 30, 2009 has withdrawn the proposal to consider Amalgamation of Vertex Projects Limited (erstwhile GVK Projects Limited) along with its wholly owned subsidiary viz M/s GVK Aviations (P) Limited (Transferor Companies) with that of Novopan Industries Limited (Transferee Company). The Board of Directors of the company is of the view that there is lack of synergy in the businesses (i.e. Constructions & Aviation) o

Novopan Industries Limited has informed the Exchange that the Board of Directors of Novopan Industries Limited in its meeting held on December 27, 2008 considered the proposal of amalgamation of GVK Projects Limited (transferor company) with that of Novopan Industries Limited. (Transferee company) by way of exchange of shares and approved the same based on its merits, with effect from April 01, 2008, being the "Appointed Date". The Board further authorized a Committee of Directors to approve the valuation reports, swap ratio and scheme of amalgamation/ arrangement. Further the Board authorized

Novopan Industries Limited has informed the Exchange that: "Novopan Industries Limited, the market leader in Pre-laminated Particle Board industry has received the approval of Hon'ble High Court of Andhra Pradesh for its proposal to merge Particle Board Division of GVK Novopan Industries (P) Ltd., resin-manufacturing division of GVK Petrochemicals (P) Ltd., and Amalgamation of Novofurniture (P) Limited with itself. Novopan has received the certified copy of High Court Order and has filed the same with the Registrar of Companies, Andhra Pradesh, Hyderabad. The merger is effective from 1st April

Novopan Industries Limited has informed the Exchange that Shareholders of the Company at their Meeting convened by Hon'ble High Court of Andhra Pradesh, Hyderabad held on September 29,2006 have unanimously approved the Scheme of Arrangement between M/s GVK Petrochemicals (P) Ltd. and M/s GVK Novopan Industries (P) Ltd. with M/s Novopan Industries Ltd. and Amalgamation of M/s Novofurniture (P) Ltd. with M/s Novopan Industries Ltd. and their respective shareholders.

Novopan Industries Limited has informed the Exchange that in order to consolidate the GVK Group's Particle board related operations and to achieve synergy in production, procurement, marketing and overall managerial operations and to achieve the ultimate goal of maximizing the wealth of the Investors, the Board of Directors of the company at its meeting held on June 25, 2006 has approved the following mergers with Novopan Industries Limited w.e.f April 01, 2006. (i) Merger of Particle Board division of GVK Novopan Industries (P) Ltd. (ii) Merger of Resin Division of GVK Petrochemicals (P) Ltd.

Novopan Industries Limited has informed the Exchange that the Board of Directors at their meeting held on June 25,2006 have approved the following proposals with a view to consolidate Particle Boards Operations of GVK Group and to achieve synergy in production, procurement, marketing and overall managerial operations of group's Particle Boards related activities. 1) Merger of GVK Novopan Industries (P) Ltd with Novopan Industries Limited. 2) Merger of Resin Division of GVK Petrochemicals (P) Ltd with Novopan Industries Limited. 3) Merger of Novofurniture (P) Ltd with Novopan Industries Limited