Kotak Mahindra Bank Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 20, 2006, inter alia, has granted an in principle approval for the restructuring of two subsidiaries of the Bank as follows: 1. De-merger of undertaking comprising of the Trading & Principal (including Primary Dealership) division of Kotak Mahindra Capital Company Ltd into the Bank, subject to necessary approvals. 2. De-merger of undertaking comprising of the Trading and Clearing operations and Strategic investments of Kotak Mahindra Securities Ltd (KMSL) into Kotak Mahindra Capital Company Ltd (KMCC), subject to the necessary approvals. The Board of Directors of KMCC and KMSL have also approved, in principle, the restructuring as above. Further the Company has informed that the Board of Directors has also approved the conversion of five indirect subsidiaries (viz. Kotak Mahindra Securities Ltd, Kotak Mahindra (International) Ltd, Kotak Mahindra (UK) Ltd, Kotak Mahindra Inc and Global Investment Opportunities Fund Ltd) of the Bank into direct subsidiaries, subject to necessary approvals. Kotak Mahindra Bank Ltd has informed BSE that a meeting of the Board of Directors of the Bank will be held on September 29, 2006, inter alia, to consider the draft Scheme of Arrangement for the demerger of the Trading and Principal including Primary Dealership undertaking of Kotak Mahindra Capital Company Ltd to the Bank under Sections 391 to 394 of the companies Act, 1956. (As per BSE Annocement website dated on 27/09/2006) Kotak Mahindra Bank Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 29, 2006, inter alia, has considered and approved the draft Scheme of Arrangement for demerger of the Trading and Principal including Primary Dealership undertaking of Kotak Mahindra Capital Company Ltd (KMCC) to the Bank under Sections 391-394 of the Companies Act, 1956 ("Scheme") which was prepared by the committee appointed by the Board of Directors for this purpose. The Scheme is subject to requisite approvals including those of Stock Exchanges under the Listing Agreement, shareholders, creditors, any regulatory authorities and sanction of the Scheme in terms thereof by the High Court of Judicature at Bombay. Further the Company has informed that the Board of Directors of KMCC and Kotak Mahindra Securities Ltd (KMSL), at its meetings also held on September 29, 2006 has approved demerger of undertaking comprising of the Trading and Clearing operations and strategic investments of KMSL into KMCC, subject to necessary approvals. (As per BSE Announcement website dated on 29/09/2006) Kotak Mahindra Bank Ltd has informed BSE that the members of the Company at their court convened meeting held on December 05, 2006 have approved by requisite majority the Scheme of Arrangement between Kotak Mahindra Capital Company (KMCC) and the Bank for the de-merger of the Trading & Principal including Primary Dealership undertaking of KMCC into the Bank. (As Per BSE Announcement Website Dated On 06/12/2006) Kotak Mahindra Bank Ltd has informed BSE that a petition under Sections 391 to 394 of the Companies Act, 1956 for sanctioning the Scheme of Arrangement between Kotak Mahindra Capital Company Ltd, the Bank and their respective shareholders and creditors was presented by the Bank on December 06, 2006 and was admitted by the Honourable High Court of Bombay on December 15, 2006 and the aforesaid petition is fixed for hearing before the Honourable Judge taking Company matters on February 02, 2007. (As Per BSE Announcement Website Dated on 02/01/2007) Kotak Mahindra Bank Ltd has informed BSE that the Hon'ble High Court, Bombay has passed an Order approving the Scheme of Arrangement for the transfer by way of a Demerger of the Demerged Undertaking of Kotak Mahindra Capital Company Ltd with the Bank. (As Per BSE Announcement Website Dated on 22/06/2007)