R INFOTECH LIMITED Eatery STAR INFOTECH December 9, 2015 DCS- Listing Bombay Stock Exchange Limited, Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001 Dear Sir/ Madam, Stock Code: 532346 Ref: Intimation - Withdrawal of the Credit rating assigned to the bank facilities This is to inform you that our Company is no longer availing credit facilities. As a consequence, the credit rating assigned by Credit Analysis & Research Ltd. (CARE) has been withdrawn at our request. A copy of the withdrawal of rating letter issued by Credit Analysis & Research Ltd. (CARE) is attached herewith. Kindly take the same on record. ‘Thanking you, Yours faithfully, For Blue Star Infotech Limited bod) Aloke Ghosh ~ | Chief Financial Officer and Company SecretaryAaB Ratings Professional Risk Opinion laa No. CARE/HO/RL/2015-16/2779 Shri Aloke Ghosh Chief Financial Officer & Company Secretary Blue Star Infotech Limited The Great Oasis, 8 Floor, D-13, MIDC Andheri (East), Mumbai — 400 093 December 7, 2015 Confidential Dear sir, Withdrawal of ratings assigned to the Bank facilities of Blue Star Infotech Limited ‘At the request of the company vide email dated December 1, 2015 along with no dues certificate dated November 26, 2015 from Kotak Mahindra Bank; we hereby withdraw our credit rating for Blue Star Infotech Limited’s bank facilities, with Immediate effect. As per our normal procedure, we will be announcing the withdrawal of the rating through a brief rationale. A copy of the brief rationale is, enclosed, 2. tn case of any future rating requirements, we will be happy to offer our services. If you need any clarification, you are welcome to approach us in this regard. Thanking you, Yours faithfully, we wv Tenia Achhadwala] [Smita Rajpurkar] Analyst Analyst zenia.achhadwala@careratings.com smita.rajpurkar@careratings.com Encl: As ab Page 1 of 2 CREDIT ANALYSIS & RESEARCH LTD. ‘CORPORATE OFFICE: 4 Foor, Godr| Coloum,Somalya Hoi Tel: 91-22-6798 3486; Fan 9122-675 Road, Of Earer Exe Highway, Sion ©, Mumba 400022 457 [Ema care@eareratngecom | wunereatingecemAnnexure Brief Rationale CARE withdraws ratings assigned to Bank facilities of Blue Star Infotech Limited CARE has withdrawn the ratings assigned to the bank facilities of Blue Star Infotech Limited with immediate effect, at the request of the company and on receipt of no dues certificate from the bank. Analyst Contact Name: Smita Rajourkar Tel: 022 67543458 Email: smita.rajpurkar@careratings.cam CCARE hos classified instruments rated by it on the basis of complexity. This classification is available ot wwwww.coreratings.com. Investors/market intermediaries/requlators or others are welcome to write to sare@careratings.com for any clarifications Disclaimer CCARE'S ratings are opinions on credit quality and are not recommendations to sanction, renew, disburse or recall the concerned bank facilities or to buy, sell or hold any security. CARE has based its ratings on information obtained from sources believed by it to be accurate and reliable. CARE does not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Mest entities whose bank faclities/instruments are rated by CARE have paid a credit rating foe, based ‘on the amount and tyge of bank facilities/instruments. In case of partnership/proprietary concerns, the rating assigned by CARE is based on the capital deployed by the partners/proprietor and the financial strength of the fiem at present. The rating may Undergo change in case of withdrawal of capital or the unsecured loans brought in by the _partners/oroprietor in addition to the financial performance and other relevant factors. Page 2 of 2 CREDIT ANALYSIS & RESEARCH LTD. CORPORATE OFFICE # Flow, Godt) Colnaum, Some Tol 91-22-6754 3486; Fan 091-22-675 ya Howptl Road, OW Eastern Expres Highway, Shan (6), Mumba 400 OF 7 [Esai earaGeareratingh.com | wow eareratingy com