SPICETELE

Spice Communications Limited has informed the Exchange that "The Hon'ble High Court of Delhi at New Delhi and Hon'ble High Court of Gujarat at Ahmedabad have sanctioned the Scheme of Amalgamation of Spice Communications Limited with Idea Cellular Limited u/s 391 to 394 of the Companies Act, 1956".

Spice Communications Limited has informed the Exchange that at the Equity Shareholders, Secured Creditors and Unsecured Creditors meeting(s) convened and held pursuant to the directions of the Hon'ble High Court of New Delhi on the September 11, 2009 the Equity shareholders, Secured and Unsecured Creditors of the Company have duly approved the scheme of amalgamation of Spice Communications Limited with Idea Cellular Limited. The said scheme of amalgamation was approved by the Equity Shareholders of the Company with requisite majority and unanimously by the Secured Creditors and Unsecured Credi

Spice Communications Limited has informed the Exchange that: The Board of Directors of the Company at its meeting held on June 25, 2008 have considered and: (1) Noted the entering into of a Share Purchase Agreement between MCorpGlobal Communication Private Limited and Idea Cellular Limited for sale of 281,489,350 equity shares of Rs 10/- each of the Company by MCorpGlobal Communication Private Limited to Idea Cellular Limited representing 40.8% of the total paid up equity capital of the Company at a price of Rs. 77.30 per equity share, and (2) Approved merger of the Company with Idea Cellular