INDIABULLS REAL ESTATE LTD. - Clarification

With reference to the news article appearing in The Economic Times on November 21, 2013, Indiabulls Real Estate Ltd has clarified to BSE that :<br/><br/>"We wish to state that buy backs are corporate actions which need to be approved by the Board of Directors. It is hereby clarified that no such agenda has been placed before the Board of the Company till date. In compliance with the requirements of Listing Agreement, we will inform the Stock Exchanges if the Board approves any corporate action including buy back."