© Copyright 2006 AMBIT Capital Private Limited . All rights reserved. Our present website www.ambitcapital.com contains information on services rendered and to be rendered by us in future after seeking the necessary statutory approvals, required before rendering such service to our clients. The information on services provided on this Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Ambit Capital Private Limited ("Ambit Capital") or its affiliates to any registration requirement within such jurisdiction or country or where Ambit Capital is not authorized to provide such information or services . Some products and services described in this Site may not be available in all jurisdictions or to all users.

As a condition precedent to your right to access information from www.ambitcapital.com you hereby agree to abide by the terms and conditions listed below:

By accessing or using the Site, you agree to be bound by the terms of use as appearing herein. Ambit Capital , its associate companies, its consultants, its partners and analysts provide you with the information and services pertaining to capital markets (''Services'') on this Site, subject to your acceptance without modification of the terms, conditions and notices contained herein. Your use of this Site constitutes your unequivocal and irrevocable agreement and acceptance to all such terms, conditions and notices. Your use of the Site is subject to terms of use as appearing herein including the additional disclaimers and caveats that may appear throughout the Site. Ambit Capital , its associate companies, its consultants, partners and analysts assume no responsibility for any consequence, whether direct or indirect, fo any action or inaction that you take based on the information, Services or other materials provided on this Site.

Data on "As is basis" :- Although the content, material or information provided to you on this site is obtained or compiled from sources we believe to be reliable, Ambit Capital, its associates, directors or employees makes no guarantee, representation or warranty of any kind including, without limitation, implied warranties of fitness regarding the Site or any content, Services, materials, information, products or advertising provided through the Site for a particular purpose, title, non-infringement, merchantability or otherwise , either express or implied and accepts no responsibility or liability for any damage or loss related to accuracy or authenticity, or completeness or correctness or current ness or timeliness or reliability or validity of any content, Services, materials, information , products or advertising displayed, uploaded or distributed through the Site. Ambit Capital assumes no responsibility to keep the content, Services, materials, information or products current, complete, up-to-date, valid, and/or accurate. Ambit Capital shall not be responsible in any manner whatsoever for any errors or omissions in the content, Services, materials, information, products or advertising even if such errors or omissions are due to negligence. You acknowledge that any reliance upon any such opinion or information shall be at your sole risk . We reserve the right to alter or amend the data and terms and conditions as may be applicable to its users and to make improvements and/or changes and/or deletion in the content, Services, materials, information, products or advertising on this Site including but not limited to changes associated with the use of Site and/or discontinue this Site, at any time without notice . Every time you access the Site please check the terms and conditions. The terms and conditions for access to the Site as provided herein, supersedes all prior communication and proposals whether electronic or written between us.

Ambit Capital reserves the rights to make improvements and/or changes and/or deletion in the content, Services, materials, information, products or advertising on this Site including but not limited to changes associated with the use of Site and/or discontinue this Site, at any time without notice. Ambit Capital may amend and/ or modify this Agreement at any time, and such amendments and/ or

modifications shall be effective immediately upon posting of the amended and/ or modified Agreement. Accordingly, you agree to review the Agreement periodically, and your continued access or use of this Site after the amendments and/ or modifications of this Agreement shall be deemed to be your acceptance of the amended and/ or modified Agreement.

You expressly acknowledge and agree that, in addition to the foregoing disclaimer, the content, Services, materials, information, products or advertising on the Site, is provided on an " as is " "where is" and "where available" basis only, and Ambit Capital makes any representation, warranty or assurance to you that it will be error-free or perform in accordance with any particular standard, level or metric, as applicable. You acknowledge that any use of such content, Services, materials, information, products or advertising provided through or on the Site shall be at your sole risk.

Warranty :– Ambit Capital has no special relationship with or fiduciary duty towards you. You acknowledge that Ambit Capital has no control over, and no duty to take any action regarding: your access to the Site; what content you access via the Site; what effects the content may have on you; how you may interpret or use the content; or what actions you may take as a result of having been exposed to the content. You release Ambit Capital from all liability for having acquired or not acquired content and/ or Services through the Site.

The Site may contain, or direct you to sites containing, information that some people may find inappropriate. Ambit Capital makes no representations concerning any content contained in or accessed through the Site, and Ambit Capital will not be responsible or liable for the accuracy, copyright compliance or legality of material contained in or accessed through the Site. Ambit Capital, its associate companies, consultants, partners and/or its analysts and their respective directors and/or employees makes no guarantee, representation or warranty that any service will be uninterrupted, timely, secure or error-free. Conflict of interest :- AMBIT Capital , its officers, directors and employees including its affiliates and their respective officers, directors and employees may hold positions in any securities mentioned on this website under " Research Report " (or in any related investment) and may from time to time add to or dispose of any such securities (or investment). AMBIT Capital and its affiliate(s) may from time to time render advisory and other services to companies being referred to in the Research Report and receive compensation for the same.

Prohibited Use :- You agree and undertake not to remove, modify or obscure any content, Services, materials, information, products or advertising or any notice of any intellectual proprietary rights including any copyright, trademark, patent, or other proprietary notices from any media or documentation.

You will not use, post, transmit or introduce any device, software or routine which interferes or attempts to interfere with the content, Services, materials, information, products or advertising including, but not limited to, any virus, worm, Trojan Horse or any other contaminating or destructive programs or routines.

Your misuse of the content, Services, materials, information, products or advertising on the Site is strictly prohibited. You are advised that Ambit Capital will aggressively enforce its intellectual property rights in the Site and its contents to the fullest extent of the law, including by seeking appropriate remedies including criminal sanctions solely at your risk as to costs and consequences.

You agree to refrain from accessing or attempting to access password protected, secure or non-public areas of this Site. Unauthorized individuals attempting to access prohibited areas of this Site may be subject to prosecution.

Access by users :- You certify to Ambit Capital that if you are an individual (i.e., not a corporation) and resident in India , you are at least 18 years of age. The access by individual who are residents of a foreign jurisdiction should comply with their local laws before accessing any information or data or becoming an approved user of our site www.ambitcapital.com. Further, you certify that you are legally permitted to enter into this Agreement and to use the Services and access the Site, and takes full responsibility for the selection and use of the Services and access of the Site.

You agree and undertake to be financially responsible for all your use of the Services and access of the Site (as well as for use of your account by others, including without limitation minors living with you). You agree and undertake to supervise and be responsible for all usage of minors of the Services and access of the Site under your name or account. Further, you warrant that all information supplied by you in using the Services and accessing the Site, including without limitation your name, email address, street address, telephone number is correct and accurate. Failure to provide accurate information may subject you to civil and criminal penalties. This Agreement is void where prohibited by law, and the right to access the Site is revoked in such jurisdictions.

Professional Advice :– We would like to draw your attention to the fact that the information that is provided on the Site should not be the only basis for your decision to invest, we are not making any investment advice to meet any specific requirement of an individual/ institutional investor. None of the information, consultations and Services contained in this Site constitutes a recommendation, solicitation or offer by Ambit Capital or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service. The information contained in this Site has been prepared without reference to any particular user's investment requirements or financial situation. Certain transactions give rise to substantial risk and are not suitable for all investors. Prior to the execution of any transaction by you involving information you received from this Site, you are advised to seek the advice from your professional business advisor or attorney or tax and accounting advisors with respect to the price, suitability, value, risk or other aspects of any special product, stock, mutual fund, security or other investment that we may sell. Pricing and other information generated through the use of data or Services made available herein may not reflect actual prices or values that would be available in the market at the time provided or at the time that the user may want to purchase or sell a particular security or other instrument. Incase you act on any advice, opinion or information available through any of the linked website or our Site, you will not hold us, nor any of our directors, or affiliates, employees or other representatives for compensating you for loss or damage that has resulted from use of information, data or opinion posted on our website or the linked website.

Use of trademark :- Ambit Capital's trademarks, service marks, logo , product and service names referenced herein are a trademark and service mark owned by/licensed to Ambit Capital. Without the prior written permission of Ambit Capital , or its appropriate affiliates, you are prohibited from using any such mark.

All other trademarks are the property of their respective owners.

Linked Site :– Ambit Capital Site may contain links to other websites that are not owned or controlled or operated by Ambit Capital. For example, clicking on a category in the links section on the Site may bring you to a site operated by a party independent of Ambit Capital. Wherever links have been provided to other websites for providing information that may be useful to the web users , such links are provided for your reference only. We do not have any control on the terms and condition as may be applicable to such linked websites and are not responsible for their contents, including without limitation any link contained in the hyperlinks or any changes or updates of links. Inclusion of links by Ambit Capital to such web sites does not imply any endorsement of the material on such web sites or any association with their operators, and you access and use such sites, including information, material, products and services therein, solely at your own risk. Ambit Capital shall not be responsible for webcasting or any other form of transmission received from any link nor is Ambit Capital responsible, if the link is not working appropriately.

Furthermore, because the terms of use you are reading are applicable only when you are on Ambit Capital's Site, once linked to another web site, we are not responsible for the privacy policies, disclaimers and terms of use of such other sites, These third party websites may have privacy policies or security practices different from our website, so it is important to read the terms and conditions of those linked websites before sharing your personal information.

Ambit Capital shall not be responsible for any dealings with third parties (including advertisers) included within the Site/ services or participation in promotions, including the delivery of and the payment for goods and services, and any other terms, conditions, warranties or representations associated with such dealings or promotions, as these dealings are solely between you and the advertiser or other third party.

Registration requirement and Security:- The access to some specific function/ services to be provided by us would require registration of users and selection of a password and user name ("______" user id") . You shall provide Ambit Capital with true, accurate, complete, and updated registration information. You shall refrain from impersonating or falsely representing your affiliation with any person or entity. Failure to do so shall constitute a breach of this Agreement, which may result in immediate termination of your account. You may not select or use a user id, mobile number or mail id, a name, number or mail id of another person with the intent to impersonate that person. We reserve the right to refuse registration of user/usernames which are illegal, fictitious, vulgar, and offensive in any way, impersonation or such that causes confusion to other users of the Site. Your account would be password protected. Users shall be responsible for keeping their password secure and maintaining the confidentiality of their passwords . Ambit Capital shall not be responsible for loss or misuse of the password. (Declaration of personal data on request to statutory authority as may be required under law to be added).

Proprietary Rights:– You shall not without obtaining a prior approval from Ambit Capital use, copy, download, reproduce transform, store , transmit, distribute, display, republish, advertise or sell or modify or solicit contents , Services, materials, information or products on the Site for any purpose in an externally accessible computer or electronic information retrieval system or transmit it in any form or by any means whatsoever .