POLARIS

Polaris Financial Technology Limited has informed the Exchange that the Hon'ble High Court of Judicature at Madras has approved the Scheme of Arrangement (Demerger) between Optimus Global Services Limited and Polaris Financial Technology Limited.

Polaris Software Lab Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on October 22, 2011, have approved in-principle the proposal to demerge the Information Technology Enabled Business of its subsidiary, M/s. Optimus Global Services Ltd. into the Company. This Scheme of Arrangement (Demerger) is being planned in order to synergize the operational and business efficiencies of this business. The Scheme of Arrangement (Demerger) is subject to necessary regulatory approvals including the approval from the Hon'ble High Court of Madras.

Polaris Software Lab Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on April 28, 2011 has approved a Scheme of Amalgamation & Merger between Polaris and SFL Properties (P) Limited, a wholly owned subsidiary of Polaris.The Board of Directors of the Polaris at its meeting held on April 28, 2011 has approved a Scheme of Amalgamation & Merger between Polaris and Laser Soft Infosystems Ltd, (Laser Soft) a subsidiary of Polaris. Polaris is holding nearly 99.29% of equity shares of Laser Soft. This merger is being planned in order to synergize the ope

Polaris Software Lab Limited had informed the Exchange regarding a press note dated September 30, 2008, titled "Polaris Software signs definitive agreement to acquire SEEC Inc, a US based Insurance Technology Solutions Company". The Company has now informed the Exchange that all the closing formalities ("Closing") read with the definitive agreement referred above, have been completed on October 30, 2008. With this, Polaris' acquisition of SEEC Inc., stands completed. The consideration price for the acquisition was paid by cash of USD 8.0 Million.<a href=/content/corporate/Polaris_Acq_31102008.