April 10, 2013

Press Release No. 1

News about RPG Life Sciences Limited and Maruti Suzuki India Limited

The media had reports that RPG Life Sciences Limited is in pact to sell lease right of Navi Mumbai land to Maruti Suzuki India Limited.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the companies.

RPG Life Sciences Limited has vide its letter inter-alia stated, "The news appearing in the media is premature and without confirming the facts. The company has executed an MOU with Maruti Suzuki India Ltd. (MISL) for proposed sale of part of land situated at MIDC, Navi Mumbai which is subject to conclusion on fulfillment of terms and conditions mentioned therein. As a part of due diligence, MSIL through their Advocates has issued a Public Notice on April 10, 2013 in the leading newspapers seeking comments and objections for proposed purchase of the said land. The Company shall make a formal announcement only on execution of a definitive sale agreement for sale of land."

Maruti Suzuki India Limited has vide its letter inter-alia stated, "That Maruti Suzuki India Limited(MSIL) had entered into a Memorandum of Understanding(MOU) with RPG Life Sciences Ltd. in August 2012 for acquiring leasehold rights through Deed of Assignment in respect of land measuring 14148.90 sq.mtr. out of total land admeasuring 48632 sq.mtr. falling under Plot No. 25&25A situated at Trans-Thane Creek Industrial Area (T.T.C. Industrial Area) within the village limit of Pawne and within the limits of Navi Mumbai Municipal Corporation, Taluka & Registration Sub District- Thane and Registration District- Thane Maharashtra together with any structure viz. Process Development Lab Standing thereon. This MOU is subject to conclusion on fulfillment of terms and conditions mentioned therein. That as part of legal due diligence, MSIL has, through its advocate Mr. D.C. Daga, released a Public Notice today in certain newspapers seeking comments and objections from any person to the proposed transaction. That MSIL is seeking to acquire this land for setting up 'Regional Office' facilities in the Mumbai Region in due course. That setting up 'Regional Office' facilities in various regions of the country is in the ordinary course of business of MSIL and in no way affects materially its operations."