Approval of the CDR Package and Issuance of LOA

• Security Code: 532820
• Company: ELAND

Mudra Lifestyle Ltd has informed BSE that the proposal of the Company for restructuring of its outstanding Institutional Debt has been approved by the Empowered Group of Corporate Debt Restructuring (CDR) Cell and a Letter of Approval dated June 27, 2012 has been issued to the Company by the CDR Cell and received by the Company on June 28, 2012. Pursuant to the terms and conditions of the MRA, the CDR Package needs to be implemented and the Master Restructuring Agreement is required to be executed between the Company and the senior lenders within 120 days fm the date of LOA. The Cut-off date of the CDR Package shall be October 01, 2011.