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Bajaj Hindusthan Ltd has informed BSE regarding the news item reported in the newspaper dated June 09, 2008.

“The Company has complied with the orders of the Hon. High Court and Hon. Supreme Court for the Sugar Season (SS) 2006-07 and SS 2007-08 in connection with cane pricing.

The Company has paid all dues to the farmers for cane purchased during SS 2006-07. Substantial amount of payment has been made for cane purchased during SS 2007-08. The balance will be paid shortly and the Company will meet with its obligations as directed by the Hon. Supreme Court. Farmers however, are expecting the mills to pay more than the rate prescribed by the Courts, which is untenable.

We have cordial relation with farmers built over decades of our association. We are continuously in dialogue with the farmer representatives and local authorities and are reasonably confident that the farmers will appreciate our view and the agitation will be withdrawn shortly.

The sugar season had successfully concluded and currently there are no sugar operations running at Kinauni. However because of the agitation, dispatches have been temporarily affected.”

Bajaj Hindusthan Sugar & Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 25, 2008, inter alia, has considered growth in business by expansion / modernization of capacity of sugar and / or ethanol and / or power, diversification in value added products using ethanol to be funded through a prudent mix of debt and / or equity.

Bajaj Hindusthan Ltd has announced the following Unaudited results for the quarter ended March 31, 2008:

The Company has posted a net profit of Rs 430.30 million for the quarter ended March 31, 2008 as compared to Rs 36.60 million for the quarter ended March 31, 2007. Total Income has decreased from Rs 5277.60 million for the quarter ended March 31, 2007 to Rs 5000.40 million for the quarter ended March 31, 2008.

Bajaj Hindusthan Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 23, 2008, inter alia, to take on record and approve the un-audited financial results for the second quarter (Q2)/ half year (ended on March 31, 2008) of the Financial Year 2007-08.

Further the Company has informed that, a meeting of the Audit Committee of Directors will also be held on April 23, 2008 prior to the aforementioned Board Meeting to discuss and review the aforesaid quarterly financial results.

Anand Rathi Financial Services Ltd (Formerly known as Anand Rathi Securities Ltd) (”Manager to the Offer”) for and on behalf of Bajaj Hindusthan Ltd (”Acquirer”) has issued this Post Offer Public Announcement to the equity shareholders of Bajaj Hindusthan Sugar & Industries Ltd (Formerly known as “The Pratappur Sugar & Industries Ltd”) (”Target Company”), which is in continuation of, and should be read in conjunction with the Public Announcement (”PA”) dated December 20, 2007 and the Corrigendum to the PA dated February 28, 2008, under the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 (”Regulations”) to acquire upto 2,36,00,000 fully paid up Equity Shares of face value of Rs 1/- each, representing 20% of post preferential voting capital at a price of Rs 52.89 per fully paid up Equity Share, payable in cash.

Details of the acquisition:

Anand Rathi Financial Services Ltd (Formerly known as Anand Rathi Securities Ltd) (”Manager to the Offer”) for and on behalf of Bajaj Hindusthan Ltd (”Acquirer”) has issued this Post Offer Public Announcement to the equity shareholders of Bajaj Hindusthan Sugar & Industries Ltd (Formerly known as “The Pratappur Sugar & Industries Ltd”) (”Target Company”), which is in continuation of, and should be read in conjunction with the Public Announcement (”PA”) dated December 20, 2007 and the Corrigendum to the PA dated February 28, 2008, under the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 (”Regulations”) to acquire upto 2,36,00,000 fully paid up Equity Shares of face value of Rs 1/- each, representing 20% of post preferential voting capital at a price of Rs 52.89 per fully paid up Equity Share, payable in cash.

Details of the acquisition:

Bajaj Hindusthan Ltd has informed BSE that the members at the 76th Annual General Meeting (AGM) of the Company held on February 26, 2008, inter alia, accorded the Board to issue, offer and allot by way of public issue rights issue or otherwise in Indian and / or International markets, equity shares of the Company ( “Equity Shares”) and / or any instruments or securities including Global Depository Receipts and American Depository Receipts representing Equity Shares and / or convertible into Equity Shares (either at the option of the Company or holder thereof) any such instrument or security [Debentures or Bonds or Foreign Currency Convertible Bonds (FCCBs)] being either with or without detachable warrants attached thereto entitling the warrant holder to apply for Equity Share / instruments or securities including Global Depository Receipts and American Depository Receipts representing Equity Shares (”Securities”) to be subscribed to in Indian and / or any foreign currency(ies) by resident or non-resident / foreign investors (whether institutions and / or incorporated bodies and / or individuals and / or trusts and / or otherwise)/ Foreign Institutional Investors (FIIs) / Mutual Funds / Pension Funds / Venture Capital Funds / Banks and such other persons or entities, whether or not such investors are members of the Company, all or any of them, jointly or severally though prospectus, offer document and / or other letter or circular (?Offer Document?) and / or on private placement basis, from time to time in one or more tranches as may be deemed appropriate by the Board upto an aggregate of 3,50,00,000 equity shares (three crore fifty lakh) of the face value of Re 1/- each and such issue and allotment to be made on such occasion or occasions, at such value or values, at a discount or at a premium to the market price prevailing at the time of the issue and in such form and manner and on such terms and conditions or such modifications thereto as the Board may determine in consultation with the Lead Manager(s) and / or Underwriters and / or other Advisors, with authority to retain over subscription upto such percentage as may be permitted by the Appropriate Authorities, with or without voting rights in general meetings / class meetings, at such price or prices, at such interest or additional interest, at a discount or at a premium on the market price or prices and in such form and manner and on such terms and conditions or such modifications to be the number of Securities to be issued, face value, rate of interest, redemption period, manner of redemption, amount of premium on redemption / prepayment, number of further equity shares, to be allotted on conversion / redemption / extinguishments of debt(s), exercise of rights attached to the warrants, the ratio of exchange of shares and / or warrants and / or any other financial instrument, period of conversion, fixing of record date or book closure and all other related or incidental matters as the Board may in its absolute discretion think fit and decide in consultation with the appropriate authority(ies), the Merchant Banker(s) and / or Lead Manager(s) and / or Underwriter(s) and / or Advisor(s) and / or such other person(s), but without requiring any further approval or consent from the shareholders and also subject to the applicable guidelines for the time being in force, subject to necessary provisions & approvals.

Anand Rathi Financial Services Ltd (Formerly known as Anand Rathi Securities Ltd) (”Manager to the Offer”) for and on behalf of Bajaj Hindusthan Ltd (”Acquirer”) has issued this Corrigendum to the Public Announcement to the shareholders of Bajaj Hindusthan Sugar & Industries Ltd (Formerly known as “The Pratappur Sugar & Industries Ltd”) (”Target Company”), which is in continuation of, and should be read in conjunction with the Public Announcement (”PA”) dated December 20, 2007, pursuant to Regulation 11(1) read with 14(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers), 1997 and subsequent amendments thereto (”SEBI (SAST) Regulations”).

The Shareholders of the Target Company are requested to kindly note the following amendments with respect to the PA:-

Terms used but not defined in this Corrigendum shall have the same meaning as assigned in the PA.

1. The Original & Revised schedule of activities are as under:

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Activity				Original Schedule		Revised Schedule
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Specified Date			December 28, 2007		December 28, 2007
Date of Opening of the Offer	February 07, 2008		March 07, 2008
Date of Closing of the Offer	February 29, 2008		March 26, 2008
------------------------------------------------------------------------------------------

2. The Offer Price

Since the equity shares of the Target Company are frequently traded on BSE & since this PA is pursuant to a firm allotment in two separate preferential issues, the average price for 26 week / 2 Week period have been determined with reference to the dates of Board Resolutions which authorised the preferential allotment & accordingly has been revised from earlier Rs 50 (Rupees Fifty Only) to Rs 52.89 (Rupees Fifty-two & paise Eighty-nine Only) per fully paid-up equity share, arrived at as per the Regulation 20(4) of SEBI(SAST) Regulations.

All other terms & conditions of the PA remain unchanged

Bajaj Hindusthan Ltd has informed BSE that the members at the 76th Annual General Meeting (AGM) of the Company held on February 26, 2008, inter alia, have approved the following:

1. Audited Balance sheet as on September 30, 2007, the Profit and Loss account and cash Flow statement for the year ended on that date and the reports of Directors’ and Auditors report thereon.

2. Dividend at the rate of 60% (Rs 0.60 per Share) on Equity Shares of Re 1/- each for the year ended September 30, 2007.

3. Re-appointment of Mr. Suresh A Kotak & Mr. Ravindrakumar V Ruia as Directors of the Company, liable to retire by rotation.

4. Re-appointment of M/s. Dalal & Shah, as Statutory Auditors to hold office from the conclusion of this Annual General Meeting until the conclusion of the next (77th) Annual General Meeting of the Company.

5. Appointment of Mr. Alok Krishna Agarwal as Director of the Company, liable to retire by rotation.

6. Appointment of Mr. Kushagra Bajaj as Director of the Company, not liable to retire by rotation.

7. Appointment and Remuneration of Mr. Kushagra Bajaj as Joint Managing Director of the Company for 5 year w.e.f. April 24, 2007.

8. Revision in remuneration of Mr. Shishir Bajaj as Chairman & Managing Director of the Company.

9. Payment of the existing remuneration as the Minimum Remuneration in terms of the requirement of Schedule XIII to the Companies Act, 1956 to Mr. I D Mittal, Chief Executive Director during October 01, 2006 to October 18, 2007.

10. Re-appointment and remuneration of Mr. I D Mittal as Chief Executive Director for three years w.e.f. October 19, 2007.

11. Approval under section 81 (1A) of the Companies Act, 1956 for issue of further shares by way of QIP / GDR / FCCB issue etc.

With reference to the news item appearing in a leading financial daily dated February 23, 2008, Bajaj Hindusthan Ltd has clarified as under:

“Sugar mills in UP are required to procure sugarcane at the State Advised Price (SAP) which is announced by the State Government during each sugar season.

The UP government had for the sugar season 2006-07 fixed a price of Rs 125 / Qtl. which had been challenged before the Hon’ble Allahabad High Court by way of a Writ Petition, inter alia, on the ground that while the constitutionality of power to fix SAP itself is yet to be clearly settled, its fixation without norms, criteria and guidelines is fully arbitrary and invalid.

After detailed hearing based on submission of facts & by summoning for the records of the State Government related to fixation and announcement of SAP, Hon’ble Allahabad High Court found that in fact there was no record showing fixation of SAP in a proper manner and there was no basis adopted for such fixation. Hence, vide its judgment dated December 19, 2007 the Hon’ble Court quashed the SAP of Rs 125 / Qtl. fixed for 2006-07, and, inter-alia, advised the State Government to form a Committee represented by all the stakeholders within a period of three months and formulate a scientific and transparent cane pricing policy and refix the SAP for the year 2006-07. Till such time the Committee’s recommendations are finalised and appropriate amendments in the Acts / Rules are made, the mills were directed to pay Statutory Minimum Price (SMP) announced by the Central Government which is substantially lower (Rs 81.18 / Qtl. for 9% recovery) than the SAP. The Allahabad High Court had also prohibited the State Government from taking any coercive action against the sugar mills until the SAP is refixed.

The judgment passed by the Hon’ble Allahabad High Court was challenged before the Supreme Court. The Hon’ble Supreme Court vide its order dated January 18, 2008 stayed the judgment till February 12, 2008 and fixed the matter for detailed hearing. On February 12, 2008 the Stay was not extended but the matter was posted to a new Bench for hearing on February 15, 2008, when the stay was extended only upto February 21, 2008.

On February 21, 2008 the Hon’ble Supreme Court has not extended the said stay granted earlier on January 18, 2008 and posted the matter for hearing on February 27, 2008. The Hon’ble Supreme Court has also directed that no coercive action shall be taken till the next hearing.

In view of the above, it may kindly be appreciated that the issue does not relate simply to non-payment of cane dues. In fact cane liability for the sugar season 2006-07 is sub-judice and a final adjudication is not yet made. The settlement of cane dues, thus, would take place based on the final decision given by the Hon’ble Supreme Court. BHL has paid nearly Rs 1400 crore as cane payments for the season 2006-07 and remains committed for the payment of a fair price for cane which is finally determined by the Hon’ble Court(s) in a transparent manner and is not prejudicial to the interests of various stakeholders.

Moreover, the Allahabad High Court vide its order dated February 17, 2008 has also directed that the SAP of Rs 125 / Qtl, announced by the State Government for the Sugar Season 2008 shall remain stayed and the State shall not take any coercive step for enforcement of SAP.

The State Government had issued nearly 70 recovery notices against private sector sugar mills in UP which also include units of BHL. These recovery notices were issued for recovery of cane dues for sugar season 2006-07. Pursuant to the said stay granted by the Supreme Court on January 18, 2008, local authorities at a few units had started acting fast and restrained the mills from selling sugar stored in a few of the godowns at these units. However vide Order dated February 15, 2008 and subsequently vide Order dated February 21, 2008, they are restrained from taking any final decision without leave of the Hon’ble Supreme Court.

It may however, be clarified that the aforesaid actions of local administration had no impact on sales as well as the day to day operations of the Sugar units. Moreover, the orders of the High Court and Supreme Court specifically prohibit the State Government from taking any coercive actions against the mills in this regard. We are taking appropriate steps to get the embargo lifted soon.

As you may be aware, the Sugar prices have only firmed up since the start of the current sugar season. The Company believe that the outlook for the industry is quite positive. BHL with its leadership position in the industry is well poised to benefit from the upturn in the sugar industry.”