Indiabulls Real Estate Ltd has informed BSE regarding Outcome of Board Meeting held on January 17, 2011, has considered and approved the recommendation of the Restructuring Committee to restructure the power and infrastructure business of the Company. The restructuring shall be implemented in terms of a composite scheme of arrangement under the provisions of Sections 391-394 of the Companies Act, 1956 between the Company, Indiabulls Infrastructure and Power Ltd ('IIPL'), Indiabulls Builders Ltd ('IBL') _ a wholly owned subsidiary of the Company, Indiabulls Power Ltd ('IPL') - a 58.6% owned subsidiary of the Company, Poena Power Supply Ltd ('PPSL') _ a wholly owned subsidiary of IPL and their respective shareholders and creditors ('Scheme'). The Scheme provides for restructuring of the share capital of the Company, the transfer by way of a demerger of the power business of IBREL as a going concern to IIPL and the amalgamation of IBL (a wholly owned subsidiary of IBREL) into IBREL and various other matters consequential or otherwise integrally connected with the foregoing. The Scheme shall be subject to necessary approvals of shareholders and creditors and sanction of the Hon'ble High Court of Delhi. The appointed date of the said demerger and amalgamation is April 01, 2011. Basis the valuation by an independent valuer and the fairness opinion by SEBI registered Merchant Banker on the valuation report, upon the Scheme becoming effective, post its sanction by the Hon'ble High Court of Delhi, shareholders of the Company will get 2.95 (two point nine five) equity shares of Rs. 2 each of IIPL for every 1 (one) equity share of Rs. 2/- each held by them on the record date to be yfixed by IBREL. Indiabulls Real Estate Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 25, 2011, has fixed December 08, 2011 as the Record Date for ascertaining the list of Shareholders of Indiabulls Real Estate Limited (the 'Company' or 'IBREL') who would be entitled to be allotted equity shares in the ratio of 2.95 (Two point Nine Five) equity shares in Indiabulls Infrastructure and Power Limited (the 'Resulting Company' or 'IIPL' ) for every 1 (One) equity share held by such member in the Company as on aforesaid Record Date (the 'Share Entitlement Ratio'). Equity shares of IIPL, issued as aforesaid, would get listed with the Stock Exchanges in terms of the Scheme. (As Per BSE Announcement Dated on 25.11.2011) SUB. :- Scheme of Arrangement of Indiabulls Real Estate Ltd. (Scrip Code 532832) Trading Members of the Exchange are hereby informed that, Indiabulls Real Estate Ltd. has fixed the Record Date for the purpose of determining entitlement to the shareholders of the Company pursuant to the Scheme of Arrangement of the Company approved by Hon'ble High Court of Delhi. COMPANY NAME CODE Indiabulls Real Estate Ltd. (532832 & 632832) RECORD DATE 08.12.2011 PURPOSE Scheme of Arrangement: - Demerger of the Power Business Undertaking of Indiabulls Real Estate Ltd. into Indiabulls Infrastructure and Power Ltd. In consideration of the Demerger, including the transfer and vesting of the Power Business Undertaking by Indiabulls Real Estate Ltd. to Indiabulls Infrastructure and Power Ltd. in terms of this Scheme, Indiabulls Infrastructure and Power Ltd. shall issue and allot to the shareholders of Indiabulls Real Estate Ltd., in the ratio of 2.95 (TWO POINT NINE FIVE) equity shares of face value Rs.2/- each fully paid up of Indiabulls Infrastructure and Power Ltd. for every 1 (ONE) equity share of face value Rs.2/- each fully paid up held in Indiabulls Real Estate Ltd. EX-ENTITLEMENT FROM DATE & SETT. NO. 07/12/2011 DR-170/2011- 2012 Trading Members of the Exchange are requested to take note of it. (As Per BSE Notice Dated on 29.11.2011)