Corrigendum Public Announcement

For the Attention of the Shareholders of BSL LIMITED ("BSL")

This Corrigendum Public Announcement (this "Announcement�) is in continuation to and should be read in conjunction with the Public Announcement that appeared in this newspaper on August 14, 2002 (the �PA�) and the corrigendum Public Announcements which appeared in this newspaper on September 26, 2002 and November 2, 2002 respectively. All terms, which are used and not defined in this Announcement, shall have the same meaning as in the PA. The shareholders of BSL may please note the following:

-       A writ petition and a stay application were filed with the Jodhpur Bench of Rajasthan High Court by M/s. BSL Ltd., with Kolmak Chemicals Ltd. as one of the respondents, requesting inter alia that the Offer be declared null and void. The first hearing of the case was held on November 28, 2002. While no order was passed on the application for interim stay moved by BSL Ltd., the Hon�ble High Court adjourned the case for final hearing on December 12, 2002 and ordered that any action taken by the respondents till then will be subject to the results of the petition.

-       Even in the event of the Closing Date of the Offer i.e. December 6, 2002, being declared a gazetted holiday under the Negotiable Instruments Act, 1881, the collection centres mentioned in the PA and the Letter of Offer would be kept open for collection and the Acquirer�s Depository Participant, Shree Bahubali International Ltd., would accept credit in the Special Depository Account.

The Board of Directors of the Acquirer, except Mr. J. K. Acharya (nominee director of financial institution IIBI) who has, under provisions of Regulation 22(6) of the Regulations, exempted himself from accepting responsibility for the information contained in this Announcement, and the Board of Directors of PACs accept full responsibility for the information contained in this Announcement and also for the obligations of the Acquirer and the PACs as laid down in the Regulations.

 

 

Issued by the Manager to the Offer

 

SBI Capital Markets Limited

202 Maker Tower �E�, Cuffe Parade, Mumbai - 400 005

Tel.: (022) 2218 9166 Fax: (022) 2218 6367

Contact Person: Ms. Sukhbir K. Dari

E-mail: sukhbir.dari@sbicaps.com

 

On Behalf of the Acquirer

Kolmak Chemicals Ltd.