This is in continuation of the update posted by Aditya on 5th Nov, 2010 (). On 13 Nov, 2010, we conducted an EGM in which this matter was discussed and all shareholders unanimously decided to remove Kallol as a Director of Headstart Network Foundation.

With this, we want to reiterate that there is no connection of Headstart Network Foundation and Headstart Ventures – tacit or explicit. In a follow up board meeting, it was decided that we will take legal opinion on this matter.

The abovesaid EGM notice is given here and the discussions in the EGM are summarized for your perusal.

We hope that you would understand our concerns and would continue your support to our endeavors going ahead.