The Bank has informed that the BoD at the meeting held on 29-07-04 has taken in principle decision regarding merger ofIDBI Bank Ltd with Industrial Development Bank of India Ltd, to be formed / incorporated under the Companies Act, 1956 pursuant to the Industrial Development Bank (Transfer of Undertaking & Repeal) Act 2003 subject to the approval of theshareholders and other Statutory approvals. The Bank has informed that the undertaking of the Company, a statutory corporation, has been transferred to and vested in, Industrial Development Bank of India Ltd w.e.f. October 01, 2004. At the Board Meeting of Industrial Development Bank of India Ltd held today (October 1, 2004), the Board ratified the earlier decision of erstwhile IDBI regarding merger of IDBI Bank Ltd with IDBI now known as Industrial Development Bank of India Ltd taken at their respective board meeting held on July 29, 2004. The Bank has informed that- 1. The first day of October 2004 to be the appointed day for the transfer to and vesting in the Industrial Development Bank of India Ltd, the undertaking of Industrial Development Bank of India. 2. Industrial Development Bank of India Ltd (Company) has been registered as a Company under the Companies Act, 1956. 3. The Bank has appointed the following first directors Meleveetil Damodaran IAS Ashok K Jha IAS Narendra Singh Sisodia IAS Shekhar Datta K Narasimha Murthy R V Gupta Hiralal Zutshi Meleveetil Damodaran IAS has also been appointed as wholetime Chairman of the Company. (As per BSE Bulletin dated on 01/10/2004) Approved the Scheme of Amalgamation envisaging merger of IDBI Bank Ltd with IDBI Ltd. Pursuant to the Scheme approved by the Boards of both the Banks, subject to the approval of the shareholders and the Reserve bank of India, IDBI Ltd will issue 100 equity shares for 142 equity shares held by the members in the IDBI Bank Ltd. Board of IDBI Ltd has also decided to transfer 2.5% of the equity capital to a trust to be held for the benefit of shareholders of the merged entity. (As per BSE Bulletin dated on 24/01/2005) EGM 23/02/2005 To Consider the Scheme of Amalgamation of IDBI Bank Ltd. with Industrial Development Bank Of India Ltd. (As per BSE Bulletin dated on 09/02/2005) The Bank has informed that the shareholders at the Extra Ordinary General Meeting held on February 23, 2005 haveapproved the resolution pertaining to the Scheme of Amalgamation of IDBI Bank Ltd with IDBI Ltd, with requisite majority. (As per BSE Bulletin dated on 24/02/2005) The Bank has informed that Reserve Bank of India (RBI) in exercise of the powers contained in sub-section (4) of Section 44A of the Banking Regulation Act 1949 has sanctioned the Scheme of Amalgamation of the IDBI Bank Ltd with IDBI Ltd. The scheme will come into effect from April 02, 2005. (As per BSE Bulletin dated on 04/04/2005) Members of the Exchange are hereby informed that the under mentioned new securities of Industrial Development Bank of India Ltd. (Scrip Code: 500116; ISIN No. INE008A01015), are listed and permitted for trading on the Exchange with effect from Tuesday, June 14, 2005. Securities 6,97,60,806 *Equity Shares of Rs.10/- each (fully paid-up) issued to shareholders of erstwhile IDBI Bank Ltd. pursuant to the Scheme of Amalgamation. Dist. Nos. 91,79,54,707 to 98,77,15,512 * These shares are ranking pari-passu with the old equity shares of the company. 2. The brief particulars of the Scheme of Amalgamation are as mentioned below: a) The Scheme of Amalgamation of the Bank was approved by the Reserve Bank of India vide its orders dated April 1, 2005. b) The appointed date: 1st October, 2004 c) Date of Allotment: 24th May, 2005 d) Exchange Ratio û 100 (One Hundred) fully paid-up equity shares of Rs.10/- each of Industrial Development Bank of India Ltd. for every 142 (One Hundred Forth Two) fully paid-up shares of Rs.10/- each held in erstwhile IDBI Bank Ltd. 3. As per Exchange Notice No.20050503-21 dated May 3, 2005, the transferor bank viz. IDBI Bank Ltd., had fixed May 16, 2005 to May 23, 2005 as æBook ClosureÆ, for giving effect to the Scheme of Amalgamation and accordingly dealing in the securities of the said transferor bank was stopped with effect from May 9, 2005. 4. The bank's financial year ends on 31st March. (As per BSE Notice dated on 13/06/2005)