Indiabulls Financial Services scheme of arrangement

Indiabulls Financial Services Ltd has informed that the Hon'ble High Court of Delhi at New Delhi has, vide order dated November 23, 2007, received on December 14, 2007, sanctioned the Scheme of Arrangement between Indiabulls Credit Services Ltd (ICSL), Indiabulls Financial Services Ltd (the "Company"), and Indiabulls Securities Ltd (ISL) and their respective shareholders and creditors for the merger of ICSL with the Company & demerger of Securities Broking & Advisory Business Undertaking of the Company and its transfer and vesting, as a going concern, with ISL.