INVESTIGATION DEPARTMENT – ID1

Sub : Maha Chemicals Ltd.

“Chairman, SEBI has passed an Order on September 26, 2003 under Regulation 13 of The SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulation, 2002, in the matter of public issue of Maha Chemicals Ltd., against Keynote Corporate Services Ltd., a merchant banker registered with SEBI. According to order, the Certificate of Registration bearing No.INM 000003606 granted to them is suspended for a period of two months for irregularities in the public issue of Maha Chemicals Ltd. This order shall come into effect 21 days from date of the order.”