Binani Industries Limited has informed the Exchange that the Hon'ble High Court at Calcutta has directed separate meetings of the equity shareholders of Binani Industries Ltd and Binani Zinc Ltd on September 11, 2002 to consider the scheme of arrangement proposed to be made between Binani Industries Ltd and Binani Zinc Ltd. Binani Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 18, 2008, inter alia, has transacted the following: It has been decided to recall / withdraw the Scheme of Arrangement for swap of part of Shares of the Company with the Shares of Binani Cement Ltd (BCL) and Binani Zinc Ltd (BZL) in view of the fact that BCL has already got listed and the valuation rationale has undergone substantial change, in view of the fact that installed capacity of Binani Cement Ltd has gone upto 6 million TPA per annum as against 2.2 million TPA at the time filing of the scheme in 1995 and hence the scheme becoming unviable. (As Per BSE Announcement Website dated on 18.11.2008) With reference to the earlier annoucement dated November 18, 2008 regarding Outcome of Board Meeting, Binani Industries Ltd has now informed BSE that in the said annoucement The words "filling of the Scheme in 1995" appearing in the last but one line may be amended to read as "filing of the Scheme in 2005" instead of 1995 which is a typographical error. (As Per BSE Announcement Website dated on 19.11.2008)