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any laws or regulations would have an adverse effect on our business.

It may not be possible for you to enforce any judgment obtained outside India against us, our
management or any of our respective affiliates in India, except by way of a suit in India on such
judgment.

Our Company is incorporated under the laws of India. Substantially all of our assets are located in India
and a majority of our Directors and Key Management Personnel are residents of India. As a result, it may
not be possible for investors to effect service of process upon our Company or such persons in
jurisdictions outside India, or to enforce against judgments obtained in courts outside India. Moreover, it
is unlikely that a court in India would award damages on the same basis as a foreign court if an action
were brought in India or that an Indian court would enforce foreign judgments if it viewed the amount of
damages as excessive or inconsistent with Indian public policy.

India has reciprocal recognition and enforcement of judgments in civil and commercial matters with a
limited number of jurisdictions, which includes, the United Kingdom, Singapore, UAE and Hong Kong.
A judgment from certain specified courts located in a jurisdiction with reciprocity must meet certain
requirements of the Civil Code. The United States and India do not currently have a treaty providing for
reciprocal recognition and enforcement of judgments in civil and commercial matters. Therefore, a final
judgment for the payment of money rendered by any federal or state court in a non-reciprocating
territory, such as the United States, for civil liability, whether or not predicated solely upon the general
securities laws of the United States, would not be enforceable in India under the Civil Code as a decree
of an Indian court.

The United Kingdom, Singapore, UAE and Hong Kong have been declared by the Government of India
to be reciprocating territories for purposes of Section 44A of the Civil Code. A judgment of a court of a
country which is not a reciprocating territory may be enforced in India only by a suit on the judgment
under Section 13 of the Civil Code, and not by proceedings in execution. Section 13 of the Civil Code
provides that foreign judgments shall be conclusive regarding any matter directly adjudicated on except
(i) where the judgment has not been pronounced by a court of competent jurisdiction, (ii) where the
judgment has not been given on the merits of the case, (iii) where it appears on the face of the
proceedings that the judgment is founded on an incorrect view of international law or refusal to recognize
the law of India in cases to which such law is applicable, (iv) where the proceedings in which the
judgment was obtained were opposed to natural justice, (v) where the judgment has been obtained by
fraud or (vi) where the judgment sustains a claim founded on a breach of any law then in force in India.
Under the Civil Code, a court in India shall, on the production of any document purporting to be a
certified copy of a foreign judgment, presume that the judgment was pronounced by a court of competent
jurisdiction, unless the contrary appears on record. The Civil Code only permits the enforcement of
monetary decrees, not being in the nature of any amounts payable in respect of taxes, other charges, fines
or penalties. Judgments or decrees from jurisdictions which do not have reciprocal recognition with India
cannot be enforced by proceedings in execution in India. Therefore, a final judgment for the payment of
money rendered by any court in a non-reciprocating territory for civil liability, whether or not predicated
solely upon the general laws of the non-reciprocating territory, would not be enforceable in India. Even if
an investor obtained a judgment in such a jurisdiction against us, our officers or directors, it may be
required to institute a new proceeding in India and obtain a decree from an Indian court.

However, the party in whose favour such final judgment is rendered may bring a new suit in a competent
court in India based on a final judgment that has been obtained in the United States or other such
jurisdiction within three years of obtaining such final judgment. It is unlikely that an Indian court would
award damages on the same basis as a foreign court if an action is brought in India. Moreover, it is
unlikely that an Indian court would award damages to the extent awarded in a final judgment rendered
outside India if it believes that the amount of damages awarded were excessive or inconsistent with
Indian practice. In addition, any person seeking to enforce a foreign judgment in India is required to
obtain the prior approval of the RBI to repatriate any amount recovered.

Significant differences exist between the Indian Accounting Standards (Ind AS) and other accounting
principles, such as Generally Accepted Accounting Principles in the United States of America (US
GAAP) and International Financial Reporting Standards (IFRS), which may be material to investors'
assessments of our financial condition.

The Restated Consolidated Financial Information included in this Prospectus have been prepared in
accordance with Ind AS. We have not attempted to quantify the impact of US GAAP or IFRS on the

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