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January 1, 2000

INDIAREIT Offshore Fund and Indiareit Fund - Scheme I's investment in commercial properties in Kurla, Mumbai by Neptune Developers Private Limited

DEAL BRIEF

INDIAREIT Offshore Fund and Indiareit Fund - Scheme I, real estate private equity funds with a joint corpus of USD 300 million, made investment of approximately USD 32 million in a project involving development of commercial properties in Kurla, Mumbai by Neptune Developers Private Limited ("Neptune"). Neptune, one of the renowned real estate developers in Mumbai, is engaged in the business of real estate construction and development in India.

OUR ROLE

We at Nishith Desai Associates acted as legal counsel to INDIAREIT Offshore Fund and Indiareit Fund - Scheme I for this investment.