P R E S S R E L E A S E

Delhi High Court unlocks Dunlop shares issued as rights

Kolkata, 18 February: Justice Sanjay Kishan and Justice Veena Birbal of the Delhi High Court in an order dated 16 February have vacated the stay imposed on de-matting and trading of 2.7 crore shares of Dunlop India Ltd, issued as rights to the shareholders. By this order there is no bar on de-matting and trading of all the 7.2 crore equity shares of the Company. The stay was imposed by the Delhi High Court in an interim order dated 07 November 2008 following a Special Leave Petition by the Security and Exchange Board of India (SEBI).

Commenting on the development, Mr Pawan K Ruia, Chairman, Dunlop India Ltd, said: “I am very happy indeed. All the shareholders who had subscribed to the rights offer would now be able to de-mat their share and deal with them the way they want.” It may be mentioned that the shares of Dunlop India Ltd have resumed trading in the Bombay Stock Exchange since 12 January 2010 and was quoted at Rs 97.40 at the closing of Thursday. Attached: Order of the High Court of Delhi

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