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Chennai, July 18

The Polaris Software board has approved the company’s commencement of the real estate business activity. This is to ‘monetise’ the company’s existing real estate assets in Chennai and Gurgaon, and give the benefit to shareholders, Mr Arun Jain, Chairman and CEO, Polaris, in a release said.

Mr Arun Jain has bought 7.75 lakh shares of Polaris from the open market between July 2 and July 7. As on March 31, 2008 he had 43.11 lakh shares, according to the company’s shareholding details. –

Our Bureau

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