Pursuant to the term and conditions of LoA, the master restructuring agreement (MRA) has been executed between the company and the lenders on 27 December 2012. The cut off date for the CDR package shall be 01 July 2012.

The CDR package envisages reduction in rate of interest; deferment of payment of interest and principal amount of working capital facilities and term loans after a moratorium of 21 months from the cut off date.

The company made this announcement during the trading hours today, 04 January 2013.