Bethesda, May 8, 2013 (GLOBE NEWSWIRE) -- India Globalization Capital, Inc. (NYSE MKT: IGC), a companycompeting in the rapidly growing materials and infrastructureindustry in India and China, announced today receipt of a letterfrom NYSE Regulation dated May 6, 2013. In the letter, IGCwas informed that based upon review of publicly availableinformation, including IGC filings with the Securities and ExchangeCommission, the Company has resolved the continued listingdeficiency referenced in the letter dated October 26, 2012, aspreviously reported. As with the case for all listed issuers,the Company's continued listing eligibility will continue to beassessed on an on-going basis. About IGC: Based in Bethesda, Maryland, India Globalization Capital, Inc.(IGC) is a materials and infrastructure company operating in Indiaand China. We currently supply iron ore to steel companiesoperating in China. For more information about IGC, please visitIGC's Web site at www.indiaglobalcap.com. For information aboutIronman, please visit www.hfironman.net. Forward-looking Statements: Some of the statements contained in this press release that arenot historical facts constitute forward-looking statements underthe federal securities laws. Forward-looking statements can beidentified by the use of the words "may," "will," "should,""could," "expects," "post", "plans," "anticipates," "believes,""estimates," "predicts," "intends," "potential," "proposed,""confident" or "continue" or the negative of those terms. Thesestatements are not a guarantee of future developments and aresubject to risks, uncertainties and other factors, some of whichare beyond IGC's control and are difficult to predict.Consequently, actual results may differ materially from informationcontained in the forward-looking statements as a result of futurechanges or developments in our business, our competitiveenvironment, infrastructure demands, Iron ore availability andgovernmental, regulatory, political, economic, legal and socialconditions in China and India.
The Company undertakes no obligation to publicly update anyforward-looking statements, whether as a result of new information,future events, or otherwise. Other factors and risks that couldcause or contribute to actual results differing materially fromsuch forward-looking statements have been discussed in greaterdetail in IGC's Schedule 14A, Form 10-K for FYE 2012, Form 10-Q forthe quarter ended September 30, 2012, and Form 10-Q for the quarterended December 31, 2012 filed with the Securities and ExchangeCommission on December 9, 2011, July 16, 2012, November 14, 2012,and February 13, 2013 respectively.
CONTACT: Contact: Investors Contact Information Claudia Grimaldi 301-983-0998