Hubtown has informed that the term of office of Madhukar B. Chobe as wholetime director designated as executive director expired on December 31, 2012 and he has not sought reappointment. Further, Chobe has also relinquished his position as director on the board of the company effective January 01, 2013.

Further, Chobe has confirmed that he has no disagreement with the board and there is no matter relating to his relinquishment that needs to be brought to the attention of the shareholders of the company.

The above information is a part of company’s filings submitted to BSE.

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