Outcome of board meeting of Scan Steels

Held on 30 August 2014

Scan Steels announced that the meeting of the Board of Director of the Company was held on 30 August 2014, the Board discussed the status of Merger, which is as follows:

1. Merger order from both, The Honorable High Court of Mumbai as well as Cuttack has been received and E-Form 21 also been filed with respective Registrars of the Companies.

2. As per the order of the merger, Registered office of the Company shall also change, for which certain forms needs to be filed with ROC after approval of Form 21.

3. Appointed date of the Scheme of merger was 01 April 2011, hence the accounts of merging Company Scan Steels, shall be merged and reported accordingly with Clarus Infrastructure Realities.

In view of the above merger procedures / formalities are in process, the board has decided to extend the Annual General Meeting (AGM) for the year 2013-2014 by maximum period of 90 days to complete the required procedures and necessary approvals for the extension of AGM will be obtained in due time from the concerned Registrar of Companies.

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