Rain Commodities Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on September 14, 2006, inter alia, to consider Amalgamation of Rain Industries Ltd (a wholly owned subsidiary) with the Company. Rain Commodities Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 14, 2006, has considered the proposal to Amalgamate Rain Industries Ltd (WOS) with the Company and authorized the Chairman & Managing Director to appoint Legal counsel to formulate the Scheme of Amalgamation and present the same before the Board of Directors for its approval. (As per BSE Annocement website dated on 14/09/2006) Rain Commodities Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 23, 2007, inter alia, has taken on record the Order dated October 25, 2007 of the Hon'ble High Court of Andhra Pradesh, approving the Scheme of Arrangement, consisting of the following: 1. Transfer of Cement Business from Rain Industries Ltd to the Company with effect from July 01, 2006. Transfer of Calcined Petroleum Coke (CPC) and Power Business from the Company to Rain Industries Ltd with effect from April 01, 2007. The certified true copy of the Court Order has been filed with the Registrar of Companies on November 23, 2007. Accordingly, the Scheme of Arrangement has become effective from November 23, 2007 and (i) Rain Calcining Ltd stands Amalgamated with the Company, (ii) Cement Business has been transferred from Rain Industries Ltd (Wholly Owned Subsidiary Company) to the Company; and (iii) Calcined Petroleum Coke (CPC) and Power business is transferred from the Company to Rain Industries Ltd. (As per BSE Announcement Website dated on 26/11/2007)