Sir Shadi Lal Enterprises

Sir Shadi Lal Enterprises Ltd has informed that the Company had entered into a business transfer agreement dated October 24, 2006 with M/s. Monnet Sugar Ltd, a public limited Company incorporated under the Companies Act, 1956 and having its registered office at Raipur-Chattisgarh ("Monnet"), for the acquisition of a sugar mill of the seller at Block Unn, district Muzaffarnagar ("Sugar Mill"), as a going concern on as-is-where-is-basis including fixed assets, current assets, current liabilities, goodwill together with all other related rights, cane area, licenses and permissions, subject to the fulfillment of certain conditions contained therein.

Further the Company has informed that, the Company has acquired the Sugar Mill, as a going concern on as-is-where-is-basis, with effect from the closing of business hours on September 24, 2007