Incomplete Disclosures

In a letter written to all its lead managers, the Midas Touch Investors Association has stated that certain important and material facts have been concealed and not disclosed in the prospectus of the Bombay Stock Exchange (BSE) initial public offering (IPO) Offer Document.

Under “Outstanding Litigation,” the public interest litigation (PIL) writ petition filed by Midas Touch Investors Association has not been disclosed and “Risk Factors” arising out of this writ petition, like penalties, fines, suspension of BSE licence, or third-party lawsuits and prosecution of officials and executives, etc, have also not been disclosed.