Shree Digvijay Cement Co. provides business update

Executes mining leases for three areas in Jamnagar, Gujarat on 11 January 2017

Shree Digvijay Cement Co. announced that the Company has received an order dated 9 January 2017 from the Hon'ble High Court of Gujarat at Ahmedabad in SCA No. 21188 of 2016, whereby the Hon'ble High Court has directed the Government of Gujarat to issue grant orders and execute mining leases, subject to obtaining Environmental Clearance and fulfillment of other conditions as per said High Court Order, in respect of the areas mentioned in the following letters of intent issued by the Government of Gujarat:

1. Letter of Intent bearing No. MCR-1103-2119 (1) CHH dated 9 November 2005 for grant of mining lease in Village Mokhana, Taluka Bhanvad, District Jamnagar (Now Devbhumi Dwarka);

2. Letter of Intent bearing No. MCR-1103-2119 (2) CHH dated 9 November 2005 for grant of mining lease in Village Pachhtardi, Taluka Bhanvad, District Jamnagar (Now Devbhumi Dwarka);

3. Letter of Intent bearing No. MCR-1103-2119 (3) CHH dated 9 November 2005 for grant of mining lease in Village Dhebar and Village Bhavaneshvar, Taluka Bhanvad, District Jamnagar (Now Devbhumi Dwarka).

In compliance with the directions of the Gujarat High Court and subsequent receipt of separate Grant Orders from the Government of Gujarat on 09 January 2017 in respect of the above Letter of Intent, the Company has on 11 January 2017 executed the mining leases in respect of the previously mentioned mines for a period of 50 years each.

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