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ITL Industries Ltd has informed BSE that the Company had given Notice to publish audited results for the year ended on March 31, 2008 on 30 June, 2008. In this regards, the Company has informed that the Company have implemented new SAP software w.e.f. March 15, 2008 and it have shifted all the data’s on the above software from the above date.

Due to new software, the Company is facing various type of technical problems i.e. not getting proper informations as per business area-wise and other technical & configuration problems and not able to get perfect books of accounts and SAP team is also working under the software to get correct information, but they will take Minimum 15 days time to configure the correct information from the SAP software.

The Board Meeting of the Company also held on June 30, 2008 to discuss the above matter and the matter was discussed and after due discussion it was thereupon unanimously resolved that due to SAP software problem the audited results for the year 2007-2008 are not ready.

ITL Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 31, 2008, has reappointed Mr. Rajendra Singh Jain as Managing Director and Mr. Mahendra Sing Jain as whole time director for a further period of 5 years w.e.f. February 01, 2008, on remuneration terms & conditions.