VARUN

Varun Industries Limited has informed the Exchange that liquidation proceedings has been initiated against the Company vide order dated September 30, 2014 passed by the Hon'ble Bombay High Court in Company Petition No 172 of 2014 since the Company was unable to make payment of installments on February 25, 2015 in terms of the said Order. The Company is in process of taking necessary legal action before the appropriate court for setting aside the said Order.

Varun Industries Limited has informed the Exchange that the Company has received show cause notices from its Consortium Lenders under the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Act, 2002. The Company is in the process of suitably addressing / responding to the same.

Varun Industries Limited has informed the Exchange that the Companies proposal for Corporate Debt Restructuring (CDR) has been admitted by CDR Cell vide their letter dated August 02, 2012.

Varun Industries Limited has informed the Exchange that Varun Group which holds exploration rights for Onshore Oil Block 3101 at Madagascar covering an area of about 6884 Sq. Km. had entered into joint venture co-operation agreement with M/s. Sure King Varun Hong Kong Ltd. (SKVHL) as SPV formed at Hong Kong between Varun Group and Da Qing Oil Field Company. Further the Company has informed that, the above transaction with Da Qing Oil Field Company, China (Sure King International Ltd.) cannot be proceeded with as per the MOU and Joint venture co-operation agreement and hence the transaction cou

Varun Industries Limited has informed the Exchange vide its letter dated October 07, 2011 regarding Calendar of events for passing two Special Resolutions through Postal Ballot.

Varun Industries Limited has informed the Exchange vide its letter dated July 22, 2011 that"Varun Energy Corporation, Madagascar has entered into a Memorandum of Understanding with a PSU under Department of Atomic Energy, "to sell entire Heavy Mineral Concentrate (Rare Earth)".

Varun Industries Limited has informed the Exchange that M/s. Varun Mines & Minerals Limited based at Mauritius which is 100% owned subsidiary of Varun Industries Limited owns majority stake in Madagascar Energy Corporation SARL at Madagascar.

Varun Industries Limited has informed the Exchange that at its meeting held on October 25, 2010 the Board of Directors of the Company has decided to form two companies in Singapore and Dubai which would be incorporated as wholly owned subsidiaries of Varun Holdings Limited, Mauritius, which is Company's wholly owned subsidiary. The proposed companies would thus become the Company's indirect subsidiaries.

Varun Industries Limited has submitted to the Exchange a copy of the Calendar of events for passing Special Resolution through Postal Ballot for alteration of Objects Clause of the Memorandum of Association.

Varun Industries Limited has informed the Exchange that "The Company has entered into an MOU with Cluff Resources Pacific NL ("Cluff"), an Australian company for a joint venture for exploration and development of gold, platinum and gem stone projects on the highly prospective tenements in Southern Madagascar for which Varun Group holds mining licence. Preliminary investigations have indicated the presence of alluvial sediments containing both gold and platinum. After initial evaluation, the focus of the joint venture would be to carry out a detailed mapping assessment of this area, with Cluff

Varun Industries Limited has informed the Exchange that the meeting of Board of Directors held on July 22, 2010, decided to form a Joint Venture company by the name of Varun Sp. Zoo in the Republic of Poland. The total capital of this venture shall be US $ 5,00,000 out of which the Company will hold 50% of the share capital. The new venture would undertake export-import of items such as Stainless Steel Kitchenware, Hardware, tools, cookware sets, non-stick, porcelain, electrical, umbrellas, YIWU items, etc.

Varun Industries Limited has informed the Exchange that "The Hon'ble Bombay High Court has sanctioned the amalgamation of Nagina Hotel Private Limited (Transferor company), Company's wholly owned subsidiary, with the Company (Transferee Company) w.e.f. 1st January, 2010, being the appointed date. As stated earlier, since the Transferor company was a wholly owned subsidiary of the Transferee Company, the amalgamation does not involve any issue of shares in the Company. The Company has filed the High Court Order with the Registrar of Companies, Maharashtra, Mumbai today, on this 7th July 2010".

Varun Industries Limited has informed the Exchange that the application of Varun lndustries Limited to set up a Steel Plant at a cost of Rs.304 crore at Bagalkote district in Karnataka was cleared at a high level Steering Committee of the Government of Karnataka. The Memorandum of Understanding between Varun and the Government of Karnataka to set up the above mentioned plant was concluded at the Global Investors Meet organized by the Karnataka Government at Bangalore on June 3, 2010.Varun has also been allotted 500 acres of land on which to set up the unit. This Memorandum of Understanding mak

Varun Industries Limited has informed the Exchange that "Nagina Hotel Pvt. Ltd., an unlisted wholly-owned subsidiary of the Company is filing an application before the Mumbai High Court, to amalgamate itself with the Company w.e.f. January 01, 2010, which is the 'Appointed Date'. The 'Effective Date' of amalgamation would be the date on which a copy of the Order to be passed by the Hon'ble High Court sanctioning the Scheme of Amalgamation is filed with the Registrar of Companies, Mumbai, Maharashtra. It may be noted that since the said company is a wholly-owned subsidiary of the Company, the p

Varun Industries Limited has informed the Exchange that the company has entered into a Memorandum of Understanding with Mysore Sales International Limited ('MSIL'), a Government of Karnataka company, by which, both the companies will identify commodities and geographical territories of mutual interest and develop import and export opportunities for the same. The commodities will include coal, iron ore, grain, cash crops, edible and crude oil etc. MSIL will also help Varun procure export orders for iron ore and other commodities and will undertake wholesale and retail marketing of the stainless

Varun Industries Limited has informed the Exchange that the Board of Directors of the Company has given an in-principle approval for setting up an integrated, state-of-the-art Stainless Steel cum alloy steel complex at Village Rohat near Jodhpur in Rajasthan. 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).<a href=/content/corporate/varun_updates_04012010.zip target=NEW> For more details click here.</a>

Varun Industries Limited has informed the Exchange that: "Varun Petroleum SARL, Madagascar, a subsidiary of the Company has signed a new Production Sharing Contract (PSC) with OMNIS of Madagascar, for an off-shore Gas Block covering area of approximately 13200 Square Kilometers on the basin of Indian Ocean. It is further notified that according to the agreement, Varun Petroleum SARL will have the right to explore, exploit and off-shore mining in the East coast point of Sainte Marie Region".

Varun Industries Limited had informed the Exchange that: 1) The Company has incorporated the following three Wholly Owned Subsidiaries in Mauritius:- a) Varun Holdings Limited, b) Varun Mines and Minerals Limited, c) Varun Petroleum Limited. 2) The above-referred Varun Mines and Minerals Limited has acquired majority shares in the following companies:- a) Varun International SARL, Madagascar, b) Madagascar Energy Corporation, Madagascar. 3) The above-referred Varun Petroleum Limited has acquired majority shares in Varun Petroleum SARL, Madagascar. The Company has now informed the Exchange that

Varun Industries Limited has informed the Exchange that: 1) The Company has incorporated the following three Wholly Owned Subsidiaries in Mauritius:- a) Varun Holdings Limited, b) Varun Mines and Minerals Limited, c) Varun Petroleum Limited. 2) The above-referred Varun Mines and Minerals Limited has acquired majority shares in the following companies:- a) Varun International SARL, Madagascar, b) Madagascar Energy Corporation, Madagascar. 3) The above-referred Varun Petroleum Limited has acquired majority shares in Varun Petroleum SARL, Madagascar.

Varun Industries Limited has informed the Exchange that the Company has incorporated two wholly-owned subsidiaries by the names Varun Minerals Corporation Pvt. Ltd and Varun Petroleum Corporation Pvt. Ltd.

Varun Industries Limited has informed the Exchange that the Company has entered into an agreement with Unique Services of Bangalore, for exports of iron ore for a period of one year. Unique Services is a partnership firm located at Bangalore and is in possession of mining rights for iron ore at Karnataka State and have necessary expertise in mining activities.

Varun Industries Limited has informed the Exchange that "Varun Industries Limited has received Letter of Award for charter hire of drilling rig of Oil and Natural Gas Corporation Limited for a period of three years. The value of the said contract is over Rs. 50 Crores. The Company has also received from Oil and Natural Gas Corporation a Letter of Award for O&M services of a rig in Karaikal for a period of three years. The value of the said contract is Rs.5 Crores."

Varun Industries Limited has informed the Exchange that "Varun Industries Limited, India's largest Exporter of Stainless Steel Kitchenware and House-ware Products has taken a leap forward to make an impressive entry in Oil & Gas Industry. The Company has won a prestigious contract of more than Rs. 50 Crores and received a Letter of Intent from Essar Exploration and Production South East Asia Limited, Republic of Mauritius of Essar Group for the Same". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Ex