CBI FILES A CLOSURE REPORT IN RTI activist SATISH SHETTY’S MURDER CASE

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EXONERATES MR. VIRENDRA D. MHAISKAR, CMD, IRB INFRASTRUCTURE DEVELOPERS LTD AND OTHER COMPANY OFFICIALS

Mumbai, April 18, 2018: Further to the recent acquittal from Pune land grab case, the CBI, an investigating agency, has now exonerated Mr. Virendra D. Mhaiskar, Chairman & Managing Director and all other IRB Infra Officials also from having any involvement in the murder case of an RTI Activist Mr. Satish Shetty.

The agency has filed its Closure Report in the matter, in which all IRB Officials have been given clean chit.

While communicating this major development vide an open letter to all Company stakeholders, Mr. Virendra Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. has stated, “This finally brings visibility to the long drawn investigation and once again proves the fact that we are law abiding citizen with no criminal intent and have utmost respect towards the law of land and judiciary.”

While expressing a full faith in the investigating agency and the judiciary and thanking them for standing by the truth in the said matter, in the letter, Mr. Mhaiskar further states, “The learning from the experience can be explained in one line – ‘Activism is an essential ingredient of democracy, but that should not be used to terrorize the lives of innocent people’.”

To re-iterate CBI had earlier filed its closure report in 2014; however, at the request of some relatives of the deceased, it had initiated further investigations thereafter; which now have stand closed.

Open Letter to ALL Stakeholders

As you all are aware, Central Bureau of Investigation (CBI) has been investigating the murder case of RTI Activist Late Mr. Satish Shetty and alleged land grabbing case since 2010. In this regard, allegations were levelled against me and other company officials about our involvement in the matter.

CBI filed the first closure report in this matter, in August 2014, in which they clearly exonerated me and other lRB officials of any involvement in this heinous crime. Further, due to the request of the relatives of the deceased, CBI started the further investigation of the same matter soon after.

We are now in receipt of the closure report filed by CBI, with regard to the further investigation which got initiated in August 2014. The report once again clearly exonerates us and the company of any involvement whatsoever,in this sad and heinous crime of murder of RTI Activist Late Mr. Satish Shetty. As a result, our stand on the matter about having no involvement whatsoever in this regard from day one stands vindicated as this long drawn investigation comes to an end.

As reported sometime back the company officials, including myself, and the company have already been discharged from the charges pertaining to alleged land grabbing case, which was also investigated by CBI.

This finally brings visibility to the long drawn investigation and once again proves the fact that we are law abiding citizen with no criminal intent and have utmost respect towards the law of the land and Judiciary.

During the course of this investigation spread over 9 years, we went through series of odds which consisted of repeated visits of CBI officials to our premises, undergoing questioning from them, undergoing polygraph test, which were most certainly humiliating experiences, which we faced with utmost courage. The only thing that kept us going was faith in Almighty and the strong resolve of the mind I have done no wrong and no wrong can happen to me”

From day one our conscience was clear that we had nothing to do with such a

heinous crime, and the allegations hurled against us and the attempts todrag us in this matter, were clearly aimed to harm the progress of the company. However, I am happy to say that team IRB, undeterred with such attempts, has grown by leaps and bounds in the last 9 years and the numbers below speak for themselves:

This progress was only possible because of faith reposed in us by all our stakeholders which includes our investors, our bankers, our clients, media at large, our employees, family members and friends.

I take this opportunity to thank you all for the undeterred support extended to us during these trying times.

The learning from this experience can be explained in one line

“Activism is an essential ingredient of democracy, but

that should not be used to terrorize the lives of innocent people”

We have full faith in the country’s Investigating agencies and Judiciary and most humbly we would like to thank them for standing by the truth.

On this auspicious day of Akshaya Tritiya, I would like to wish all our stakeholders a Prosperous New Year ahead.

With warm regards,

Virendra D Mhaiskar

Chairman & Managing Director

Date: 18th April, 2018