Delta Magnets Limited announced that the Board of Directors of the Company at its meeting held on June 18, 2012 have constituted committee of independent directors to give reasoned recommendations on the open offer made by M/s SSI Trading Private Limited and M/s Delta Real Estate Consultancy Private Limited to the shareholders of the company in terms of provision of Securities Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The committee of independent directors consists of Mr. Mahesh Gupta (Chairman), Mr. Rajesh Jaggi (Member) and Mr. Vrajesh Udani (Member).