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Celestial Labs Ltd has informed BSE that the Company has acquired the channel partnership of Microsoft to strengthen Celestial ERP business. The main promoter of the Company, Dr. A N Singh is in the process transferring IPR rights worth total 11 crore as valued to the Company. However, Dr. A N Singh entitlement is 8.175 crore out of which he shall claim worth Rs 2.5 Crore shares not exceeding 5% on expended capital, balance will be subsequently claimed.

This exercise shall immensely help the Company to increase the business in the smaller and medium sectors of ERP business.

Celestial Labs Ltd has informed BSE that the Board of Directors of the Company have, subject to the consent of the members and statutory authorities, approved to offer, issue and allot Equity Shares of the Company as Sweat Equity Shares, against the acquisition of the Ownership rights of Intellectual Property Assets (Software Programmes) developed and owned by Dr. Aditya Narayan Singh, the promoter and the Managing Director of the Company as a preferential allotment of its fully paid up equity shares to ANS in lieu of the compensation valued at Rs 8.175 Crores for transfer of the aforesaid assets to the Company by Dr. Aditya Narayan Singh.

The Company will issue the shares at the price arrived in terms of Regulation 7 of Chapter II of the SEBI (Issue of Sweat Equity) Regulations, 2002.

Celestial Labs Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 14, 2008, inter alia, has transacted the following business:

1. Notice of Postal Ballot have been Approved.

2. Mr. Anantha Rama Subramanian, Practicing Company Secretary, have been Appointed as a Scrutinizer for Postal Ballot purpose as per provisions of Section 192A of the Companies Act 1956 read with Companies (passing of Resolution by Postal Ballot) Rules 2001.

Celestial Labs Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 14, 2008, inter alia, has transacted the following:

1. Recommended a dividend of 10% (ten percent only) on the paid-up share capital of Company subject to Approval of Members in Annual General Meeting.

2. Approved an amount equivalent to Rupees 817.5 lakhs equity shares to promoters and promoters group on preferential basis in lieu IPR being transferred to the Company, as recommendation by IPR Attorney and technical and financial evaluation by APTDC and Merchant Banker, the same was also approved by a committee of Independent Directors of the Company at its Meeting held on July 14, 2008, subject to Approval of Members and SEBI’s preferential issue guidelines.

Celestial Labs Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 14, 2008, inter alia, to consider and approve the audited financial results for the year ended March 31, 2008, un-audited financial results for the quarter ended on June 30, 2008 and issue of preferential allotment to promoters in lieu IPR and recommendation of dividend, if any, for the financial year 2007-2008.

Celestial Labs Ltd has informed BSE about the status of utilization of fund as on December 31, 2007.

(Rs. in Lakhs)

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	Particulars			Projection as per		Actual up to
					Prospectus			December 31, 2007
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Expansion/Modernization			2332.52				1443.46

Working capital				417.48				247.28

Issue expenses/general corporate	250.00				188.98
expenses

FDs/investments				-				1120.28
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Total					3000.00				3000.00
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