Pratibha Board Industries From The Honble High Court To That Effect - Dec 23, 2008

Pratibha Industries Ltd has informed that the Board of Directors of the Company at its meeting held on December 22, 2008, have discussed and decided to withdraw the Composite Scheme of Arrangement and Amalgamation between Pratibha Industries Ltd (the Demerged Company or the Transferee Company) and Pratibha Shareholding Pvt Ltd (the First Transferor Company) and One Metro India Pvt Ltd. (the Second Transferor Company) and Pratibha Pipes & Structural Ltd (the Resulting Company) and their respective Shareholders and Creditors, due to current market scenario and global reaction. Therefore it is decided to withdraw the Scheme by seeking approval directions from the Honble High Court to that effect.