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SVC Superchem updates on PTA project status, Chhata

29
Apr '08
SVC Superchem Ltd has informed the status of project as approved by the Board of Directors at its held on April 24, 2008 as following:

"Status of purified Terephthalic Acid (PTA) project of 1,20,000 MTPA capacity being set up at Chhata, Dist. Mathura, U.P., as at March 31, 2008.

The Company is maintaining its PTA project to the best of its available resources which remains unused.

The majority of lenders have approached DRT and some of them have unilaterally assigned their claims, while the Company has approached to the Honourable Delhi High Court objecting their unilateral action and claiming several relief's.

There was no complaints pending at the beginning of the quarter and the Company has received 15 investor grievances during the quarter ended March 31, 2008. All have been successfully responded from time to time.

The above status of project was taken on record by the Board of Directors at its meeting held on April 24, 2008."

SVC Superchem Ltd


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