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In response to media reports, Ruchi Chopra, Group Head - Communications, Luthra & Luthra Law Offices, New Delhi, writes:

“We would like to clarify that Luthra & Luthra Law Offices has not been engaged by Satyam Computer Services Limited in any capacity at any time, including in relation to its proposed buy-out of Maytas Properties Limited. However, we were engaged by Maytas Properties Limited in connection with its proposed initial public offering (IPO) and pre-IPO private equity transactions. As part of the proposed IPO process and for preparation of the Draft Red Herring Prospectus, we had conducted a legal due diligence exercise on the land holdings of Maytas Properties Limited and no valuation exercise was carried out by us. It is further clarified that we have not advised Maytas with respect to the failed Satyam transaction and we learnt about this transaction only through media reports.”

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