The new proposal with Hdfc is in the stage of review by regional office,
review at cbe office is completed. In regional office their decision is delayed
due to down trend in automobile industry they are delaying the sanction.

Senthil has told the reason and we had spoken to Mr.Palanisamy (Officer Credit limits)
in cbe office and explained to him the customer base at MRP and we are supplying to TAFE,
AL and RE. No car company is being supplied and explained to him the past history
of repayment. He was little concerned about current year repayment due to continued
losses and we have told there will not be operational losses and we will be infusing funds on sale land.
Hence,we requested to consider and he is convinced and if necessary we told we can give
a letter regarding the subject.

Senthil is closely following with bank.He is also arranging with two more alternate banks for the
proposal. He will again update by tuesday or wednesday.