Full Press Release Details
Chief Executive Officer and President
India Globalization Capital, Inc.
INDIA GLOBALIZATION CAPITAL, INC.
ANNOUNCES CHANGES IN FINANCIAL MANAGEMENT
BETHESDA, Maryland, December 1, 2006 India Globalization Capital, Inc. (the Company ) (AMEX:
IGC.U) today announced that John Cherin resigned his positions as a member of the Board of
Directors, Chief Financial Officer and Treasurer of the Company effective November 27, 2006 to
devote more time to personal matters. Effective immediately, Ram Mukunda, the Company s President
and Chief Executive Officer, will also be the Acting Chief Financial Officer of the Company until a
replacement is found.
India Globalization Capital, Inc. is a blank check company recently formed for the purpose of
acquiring, through a merger, capital stock exchange, asset acquisition or other similar business
combination, one or more operating businesses with primary operations in India.
Any statements contained in this press release that do not describe historical facts may constitute
forward-looking statements as that term is defined by the United States Private Securities
Litigation Reform Act of 1995. Any such forward-looking statements contained herein are based on
current expectations, but are subject to a number of risks and uncertainties that may cause actual
results to differ materially from expectations such as material adverse events affecting the
Company, the ability of the Company to satisfy the conditions to completion of the business
combination and those other risks and uncertainties detailed in the Company s filings with the
Securities and Exchange Commission.