SITAC

SITAC is a management company, founded by Mr. Malvinder Singh, with most of the underlying investment and businesses being held by the Family Trust (The Trust). SITAC has extensive experience in real estate and property development having developed a number of large real estate projects in Europe and currently executing a major commercial development project in Berlin on behalf of the Trust. The Group is also active in the power generation sector through it's SITAC RE subsidiary. The SITAC Group, supported by the Trust, was established in 1978 quickly grew to being a substantial construction company in its own right. SITAC CEC undertook several turnkey construction projects in the Middle East and India with major works including: the tallest building in Iraq-the telecommunication Building in Baghdad, Water Treatment Plants, flyovers in Baghdad and a 600 bed hospital with built up area of 1 million square feet as well as the Honda generator factory in India and other similar projects. Apart from the above, the Trust also acquired interests in a premier mountain bicycle manufacturing unit in the U.K. called Muddy Fox and an automobile component production facility working as an ancillary of one of the largest automobile manufacturing units in India, which were both managed and operated by the SITAC Group. These businesses have since been developed and sold successfully. SITAC RE is an independent wind energy company exclusively focused on the development, financing, construction and operation of utility-scale wind energy projects in India under the ownership of the Trust. Based out of New Delhi, SITAC RE is in the process of developing and operating wind energy projects across India with a project pipeline of circa 900 MW. The Group through SITAC REMD, is undertaking the development of a large real estate development project in Berlin, Germany. The ownership of the unencumbered land, acquired from the Berlin government, is held by an SPV, whose partners are companies whose shares are entirely owned by the Trust. The Group, with SPV's held by the Trust has development and investment projects in the U.K. which include a residential development in Knightsbridge, London; several office blocks, an apartment block in central London with 22 apartments; and several warehouses and factories nationwide.