OBEROI REALTY LTD. - Updates on Wholly Owned Subsidiary

Oberoi Realty Ltd has informed BSE that :<br/><br/>"Background:<br/><br/>1. Oberoi Constructions Limited ("OCL") is a wholly owned subsidiary of the Company.<br/><br/>2. Certain properties of OCL situated in village Nahur and village Mulund were declared as private forest and the same was challenged by OCL by a writ petition in Bombay High Court against the State of Maharashtra and others. This writ petition was dismissed by the Bombay High Court vide an order dated March 24, 2008.<br/><br/>3. OCL had filed a special leave petition (no. 11398 of 2008) before the Hon'ble Supreme Court challenging the said order of the Bombay High Court.<br/><br/>Update:<br/><br/>We now write to inform you that the Hon'ble Supreme Court in the said Special Leave Petition no. 11398 of 2008 has today pronounced a judgement setting aside the said order of the Bombay High Court."