SHYAMTELE

Shyam Telecom Ltd has informed the Exchange regarding the benefits available to the shareholders of the company under the Scheme of Arrangement as approved by the Hon'ble High Court of Rajasthan. The Scheme contemplates distribution of 25,59,57,500 (Twenty five crores fifty nine lacs fifty seven thousand five hundred) equity shares of the face value of Rs.10/- each aggregating to Rs.255,95,75,000 (Rupees two fifty five crores ninty five lacs seventy five thousand only) as on the transfer date held by the share holders without any consideration in proportion to their share holding in the Amalga

Shyam Telecom Ltd has informed the Exchange that the company has received order from Hon'ble High Court of Rajasthan approving the Scheme of Arrangement filed earlier by the company without any modification. The main high lights of the Scheme are as follows :- a) Shyam Telecom Manufacturing Limited, a wholly owned subsidiary of the company involved in manufacturing of telecom/transmission equipments amalgamates with Shyam Telecom Limited (the amalgamated company). b) Transfer of liabilities of the amalgamated company to the tune of RS.200 crores and in lieu their of transfer of investments in

Shyam Telecom Ltd has informed the Exchange that in the Board Meeting held on June 15, 2005, the Board of Directors of the Company has approved the Scheme of Arrangement subject to the approval of members /creditors and approval of High Court of Judicature of Rajasthan or such authority which provides for: (a) Amalgamation of Shyam Telecom Manufacturing Limited with Shyam Telecom Limited; (b) Transfer of liabilities of Shyam Telecom Limited to Shyam Basic Infrastructure Projects Limited to the tune of Rs.200 crores out of outstanding liabilities as on Transfer date along with shares of Shyam T