SEBI Order linking Mr A. Vellayan, Chairman of the Murugappa Group

22 May 2015: The SEBI order linking Mr A. Vellayan, Chairman of the Murugappa Group, to trades by two individuals in shares of Sabero Organics Gujarat Ltd., a company that was acquired by Coromandel International Ltd. in May 2011, is based merely on suspicion and is a far-fetched
tenuous conjecture.

The only purported link sought to be made by SEBI between Mr. A Vellayan and these
transactions is that one Mr. A. R. Murugappan is a distant relative (son of a grand aunt) and had
had a property transaction with Mr. A Vellayan way before the Sabero transaction was even
thought about. SEBI has jumped to the conclusion that the trades could potentially be attributed
to suspected communication of unpublished price sensitive information about the Sabero deal by
Mr. A Vellayan to this distant relative.

The link drawn in this interim Order is not a conclusive finding. Mr. A Vellayan is resolute in
defending the serious harm to reputation caused by this Order and will take appropriate action as
legally advised. He is keen to also demonstrate bona fides and will extend full cooperation to
SEBI to complete investigations expeditiously, apart from seeking redress against the premature
measures adopted.

In keeping with family values and tradition, he has stepped aside from the Chairmanship of the
Murugappa Group Corporate Board and of Coromandel International Ltd. and EID Parry India
Ltd. until this matter is resolved.