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 <TITLE>FORM S-8</TITLE>
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<P ALIGN=center><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>As filed with the Securities and Exchange Commission on March 8, 2001.
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></FONT><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Registration No. 333- </FONT></B></P>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> <FONT SIZE="4"><B>SECURITIES AND EXCHANGE COMMISSION
<BR>
<FONT SIZE="2">WASHINGTON, D.C. 20549</FONT></B></FONT></FONT>
<BR>

<BR>
<HR NOSHADE ALIGN="center" WIDTH="10%" SIZE="1">
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> <FONT SIZE="4"><B>FORM S-8</B></FONT></FONT></P>
<P ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="4"> REGISTRATION STATEMENT UNDER
<BR>
THE SECURITIES ACT OF 1933</FONT>
<BR>

<BR>
</B> <HR NOSHADE ALIGN="center" WIDTH="10%" SIZE="1">
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> <FONT SIZE="4"><B>SILVERLINE TECHNOLOGIES LIMITED</B></FONT>
<BR>
<B>(Exact Name of Registrant as specified in its charter) </B></FONT></P>
<P ALIGN="center"></P>
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<TD WIDTH="49%" ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman, Times, serif">REPUBLIC OF INDIA</FONT></B></FONT></TD>
<TD WIDTH="51%" ALIGN="center"><FONT SIZE="2"><B><FONT FACE="Times New Roman, Times, serif">NOT APPLICABLE </FONT></B></FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="49%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">(State or other jurisdiction of
<BR>
incorporation or organization) </FONT></B></TD>
<TD WIDTH="51%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">(I.R.S. Employer Identification No.) </FONT></B></TD>
</TR>
</TABLE>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><B>Silverline Technologies Limited
<BR>
</B></FONT><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Unit 121, SDF IV,
<BR>
SEEPZ, Andheri (East)
<BR>
Mumbai (Bombay) 400096
<BR>
India
<BR>
91-22-829-1950
<BR>
(Address, including ZIP code, and telephone number, including area code, of
<BR>
registrant's principal executive offices)
<BR>
Silverline Technologies Limited Stock Option Plan II
<BR>
(Full title of plan)</FONT></B></P>
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<TR>
<TD WIDTH="49%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Shiva Vohra</FONT></B></TD>
<TD WIDTH="51%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Copy to: </FONT></B></TD>
</TR>
<TR>
<TD WIDTH="49%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Silverline Technologies, Inc.</FONT></B></TD>
<TD WIDTH="51%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Rajiv Khanna </FONT></B></TD>
</TR>
<TR>
<TD WIDTH="49%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Silverline Corporate Plaza </FONT></B></TD>
<TD WIDTH="51%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Greenberg Traurig, LLP</FONT></B></TD>
</TR>
<TR>
<TD WIDTH="49%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">53 Knightsbridge Road</FONT></B></TD>
<TD WIDTH="51%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">200 Park Avenue </FONT></B></TD>
</TR>
<TR>
<TD WIDTH="49%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">Piscataway, NJ 08854</FONT></B></TD>
<TD WIDTH="51%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">New York, NY 10166 </FONT></B></TD>
</TR>
<TR>
<TD WIDTH="49%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">(732) 457-0200 </FONT></B></TD>
<TD WIDTH="51%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">(212) 801-9268 </FONT></B></TD>
</TR>
<TR>
<TD WIDTH="49%" ALIGN="center"><B><FONT FACE="Times New Roman, Times, serif" SIZE="2">(Name, Address including ZIP Code, and
<BR>
telephone number, including area code,
<BR>
of agent for service)</FONT></B></TD>
<TD WIDTH="51%"><B></B></TD>
</TR>
<TR>
<TD WIDTH="49%">&nbsp;</TD>
<TD WIDTH="51%">&nbsp;</TD>
</TR>
</TABLE>
<P></P>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
<TR>
<TH COLSPAN="5"> <FONT FACE="Times New Roman, Times, serif" SIZE="2"> CALCULATION OF REGISTRATION FEE
<BR>
</FONT> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="2"> </TH>
</TR>
<TR VALIGN="bottom">
<TH ALIGN="left">&nbsp;</TH>
<TH>&nbsp;</TH>
<TH>&nbsp;</TH>
<TH>&nbsp;</TH>
<TH>&nbsp;</TH>
</TR>
<TR VALIGN="bottom">
<TH ALIGN="left" COLSPAN="5"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> </TH>
</TR>
<TR VALIGN="bottom">
<TH ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Title of Securities
<BR>
to be Registered</FONT></TH>
<TH><FONT FACE="Times New Roman, Times, serif" SIZE="2">Amount to
<BR>
be
<BR>
Registered/1/</FONT></TH>
<TH><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Proposed Maximum
<BR>
Offering Price
<BR>
Per Share/2/</FONT></TH>
<TH><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Proposed Maximum
<BR>
Aggregate Offering
<BR>
Price </FONT></TH>
<TH><FONT FACE="Times New Roman, Times, serif" SIZE="2">Amount of </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">
<BR>
Registration Fee</FONT></TH>
</TR>
<TR>
<TD ALIGN="center" COLSPAN="5"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="1"> </TD>
</TR>
<TR VALIGN="bottom">
<TD><FONT FACE="Times New Roman, Times, serif" SIZE="2">Equity Shares, par value Rs. 10 </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">
<BR>
per share, to be issued under the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">
<BR>
Silverline Technologies, Inc. </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">
<BR>
Stock Option Plan II </FONT></TD>
<TD ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">6,000,000
<BR>
shares </FONT></TD>
<TD ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">$3.07
<BR>

<BR>
</FONT></TD>
<TD ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">$18,420,000
<BR>

<BR>
</FONT></TD>
<TD ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">$4,605
<BR>

<BR>
</FONT></TD>
</TR>
<TR VALIGN="bottom">
<TD COLSPAN="5"> <HR NOSHADE ALIGN="right" WIDTH="100%" SIZE="2"> </TD>
</TR>
</TABLE>
<P></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top" ALIGN="left">
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/1/</FONT></TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">American Depositary Shares, each representing two Equity Shares, issuable </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">upon deposit of Equity Shares, have been registered on
a separate </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Registration Statement on Form F-6 (File No. 333-12000).</FONT></TD>
</TR>
<TR VALIGN="top" ALIGN="left">
<TD WIDTH="5%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/2/</FONT></TD>
<TD WIDTH="95%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Estimated for options available for grant as of March 6, 2001 in accordance with Rule 457(c) and (h) solely for the purpose of calculating the registration fee, based on the average of
the high and low prices per share of the American Depositary Shares representing the Equity Shares as reported on the New York Stock Exchange, Inc. on March 6, 2001.</FONT></TD>
</TR>
</TABLE>
<P> </P>
<P></P>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> PART I</FONT></P>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS </FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="9%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 1.&nbsp;</FONT></TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> PLAN INFORMATION.*</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 2.&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION.* </FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">*</FONT></TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Information required by Part I to be contained in the Section 10(a) </FONT> <FONT FACE="Times New Roman, Times, serif" SIZE="2">prospectus is omitted from this Registration
<BR>
Statement in accordance </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">with Rule 428 under the Securities Act of 1933 and the Note to Part 1 </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">of Form S-8.</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="2" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">PART II</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="2" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT </FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 3.</FONT></TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> INCORPORATION OF DOCUMENTS BY REFERENCE.</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The following documents filed with the Commission are incorporated by </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">reference in this Registration Statement:</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">1.</FONT></TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> The Company's Registration Statement on Form F-1 (File No. 333-11984), </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">as amended, filed by the Registrant pursuant to the
Securities Act of 1933, as amended (the &quot;<U>Securities Act</U>&quot;), relating to the Company's initial public offering of its American Depositary Shares representing two Equity Shares. </FONT></TD>
</TR>
<TR>
<TD WIDTH="9%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">2. </FONT></TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The description of the Registrant's American Depositary Shares, each </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">representing the right to receive two Equity Shares,
contained in the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Registrant's Registration Statement on Form 8-A (File No. 001-15919) filed by the Registrant pursuant to the Securities and Exchange Act of </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">
1934, as amended (the &quot;<U>Exchange Act</U>&quot;), including any amendment or </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> report filed for the purpose of updating such description. </FONT></TD>
</TR>
<TR>
<TD WIDTH="9%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">3. </FONT></TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company's Registration Statement on Form F-4 (File No. 333-52724), as amended, filed by the Registrant pursuant to the Securities Act.</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%" VALIGN="top">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">4. </FONT></TD>
<TD WIDTH="91%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company's Report on Form 6-K filed with the Commission on February 23, 2001 pursuant to the Securities Exchange Act.</FONT> </TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed with the Commission by the Registrant pursuant to Sections 13(a),
13(c), 14 or 15(d) of the Exchange Act, after the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered herein have been sold or which deregisters all securities then
remaining unsold, are deemed to be incorporated by reference in this Registration Statement and to be a part thereof from the date of filing of such documents (such documents, and the documents enumerated in clauses (1) and (2) above, being hereinafter
referred to as &quot;<U>Incorporated</U> <U>Documents</U>&quot;).</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="91%">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained herein or in an Incorporated Document shall be deemed to be
modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any subsequently filed Incorporated Document modifies or supersedes such first statement. Any such statement so modified or superseded shall not
be deemed, except as so modified or</FONT></TD>
</TR>
</TABLE>

<P> </P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR VALIGN="top">
<TD COLSPAN="4" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">superseded, to constitute a part of this Registration Statement.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 4.</FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> DESCRIPTION OF SECURITIES.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Not applicable.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 5. </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">INTEREST OF NAMED EXPERTS AND COUNSEL.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Not applicable.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 6. </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">INDEMNIFICATION OF DIRECTORS AND OFFICERS.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" HEIGHT="28" ALIGN="left">&nbsp;</TD>
<TD HEIGHT="28" COLSPAN="3" ALIGN="left">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">The Company has undertaken to indemnify its directors and officers, to </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">the extent permitted by applicable law, against certain liabilities,
</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> including liabilities under the Securities Act.</FONT></P>
</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 7. </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">EXEMPTION FROM REGISTRATION CLAIMED.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Not applicable.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 8.</FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> EXHIBITS.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The following exhibits are filed herewith:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" NOWRAP ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">EXHIBIT NO. </FONT></TD>
<TD WIDTH="9%" NOWRAP ALIGN="center"> <DIV ALIGN="left"></DIV>
</TD>
<TD WIDTH="21%" NOWRAP ALIGN="center"> <DIV ALIGN="left"></DIV>
</TD>
<TD WIDTH="62%" NOWRAP ALIGN="center"> <DIV ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">DESCRIPTION OF EXHIBIT</FONT></DIV>
</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">4.1*</FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Form of Depositary Agreement among the Registrant, Depositary, and the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Beneficial Owners from time to time of
American Depositary Receipts</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> issued thereunder (including as an exhibit, the form of American </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Depositary Receipt)</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">4.2* </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Registrant's Specimen Certificate for Equity Shares </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.1 </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Opinion of Nishith Desai Associates</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">23.1</FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Consent of Deloitte Haskins and Sells, India (a member firm of Deloitte Touche Tohmatsu), Independent Auditors</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">23.2 </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Consent of Nishith Desai Associates (see Exhibit 5.1)</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">24.1</FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> Powers of Attorney. Reference is made to page II-4. </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">* </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Incorporated by reference to the Company's Registration Statement on Form F-1 (File No. 333-11984). </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">ITEM 9. </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">UNDERTAKINGS.</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">A. </FONT></TD>
<TD COLSPAN="3" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The undersigned Registrant hereby undertakes:</FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD WIDTH="9%" ALIGN="left"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> To file, during any period in which offers or sales are being </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">made, a post-effective amendment to this registration
</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">statement to include any material information with respect to</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2"> the plan of distribution not previously disclosed in this Registration Statement
or any material change to such </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">information in this Registration Statement; </FONT></TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" ALIGN="left">&nbsp;</TD>
<TD COLSPAN="3" ALIGN="left">&nbsp;</TD>
</TR>
<TR VALIGN="top">
<TD WIDTH="8%" HEIGHT="28" ALIGN="left">&nbsp;</TD>
<TD HEIGHT="28" WIDTH="9%" ALIGN="left">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">(2) </FONT></P>

<P>&nbsp;</P>
</TD>
<TD ALIGN="left" COLSPAN="2"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">That, for the purpose of determining any liability under the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Securities Act, each such post-effective amendment
shall be </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">deemed to be a new registration statement relating to the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">securities offered therein, and the offering of such</FONT> </TD>
</TR>
</TABLE>

<P> </P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="89%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">securities at that time shall be deemed to be the initial bona </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">fide offering thereof; and</FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="89%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">(3)</FONT></TD>
<TD WIDTH="89%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> To remove from registration by means of a post-effective </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">amendment any of the securities being registered which remain </FONT>
<FONT FACE="Times New Roman, Times, serif" SIZE="2">unsold at the termination of the offering. </FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="89%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="5%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">B. </FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">The undersigned Registrant hereby undertakes that, for purposes of </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">determining any liability under the Securities Act, each
filing of the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Registrant's annual report pursuant to Section 13(a) or 15(d) of the </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Exchange Act that is incorporated by reference herein shall be deemed
</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">to be a new registration statement relating to the securities offered </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">therein, and the offering of such securities at that time shall be </FONT>
<FONT FACE="Times New Roman, Times, serif" SIZE="2">deemed to be the initial bona fide offering thereof. </FONT></TD>
</TR>
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="6%">&nbsp;</TD>
<TD WIDTH="89%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="5%" VALIGN="top"><FONT FACE="Times New Roman, Times, serif" SIZE="2">C. </FONT></TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</FONT></TD>
</TR>
</TABLE>

<P> </P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SIGNATURE
S</FONT></TD>
</TR>
<TR>
<TD COLSPAN="4">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the Town of Piscataway, State of New Jersey, on March 7, 2001. </FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD COLSPAN="2"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Silverline Technologies Limited</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD WIDTH="3%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">By:<U> </U></FONT></TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman, Times, serif" SIZE="2"><U>/s/ Shiva Vohra&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Shiva Vohra</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Senior Vice President, Corporate Finance</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD WIDTH="3%">&nbsp;</TD>
<TD WIDTH="55%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Authorized Representative in the
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States</FONT> </TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;POWER
OF ATTORNEY AND SIGNATURES</FONT></TD>
</TR>
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="32%">&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD>
</TR>
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW
ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Mr. Ravi Subramanian, Mr. Shankar Iyer and Mr. Shiva Vohra, and each of them (with full power of each of them to act alone), his or her true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution for him or her and in his or her name, place and stead, in any and all capacities, to sign any amendments to this Registration Statement on Form S-8 (including post-effective
amendments), and to file the same, with all exhibits thereto and other documents in connection therewith, with the U. S. Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do
and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully as to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or any of them, or their substitutes, may lawfully do or cause to be done by virtue hereof.</FONT></TD>
</TR>
</TABLE>

<P> </P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR>
<TD COLSPAN="4"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%">&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">SIGNATURE</FONT></TD>
<TD WIDTH="34%" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">TITLE </FONT></TD>
<TD COLSPAN="2" ALIGN="center" WIDTH="30%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">DATE</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%">&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" HEIGHT="11" VALIGN="bottom"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ Ravi Subramanian</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Ravi Subramanian &nbsp;&nbsp;
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="34%" ALIGN="left" HEIGHT="11" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Chairman of the Board of Directors</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" HEIGHT="11" ALIGN="center" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%">&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" VALIGN="bottom"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ Krishna K. Subramanian</FONT>
<BR>
<HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Krishna K. Subramanian&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Vice Chairman of the Board of Directors and Executive for International Initiatives</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%">&nbsp;</TD>
<TD WIDTH="34%" VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" VALIGN="bottom" NOWRAP><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ Shankar Iyer</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Shankar Iyer</FONT></TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">&nbsp;</FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">President and Chief Executive Officer (Principal </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">
Executive Officer) and Director</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP>&nbsp;</TD>
<TD WIDTH="34%" VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" VALIGN="bottom" NOWRAP><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ Venkatachalam K. Murthy</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Venkatachalam K. Murthy</FONT>
</TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Senior Vice President and Chief Financial Officer (Principal Accounting Officer)</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2"> March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP>&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ Arjan R. Daswani</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Arjan R. Daswani</FONT></TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Director</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP>&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ S.V. Mony</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">S.V. Mony</FONT></TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Director </FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP>&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ P. Murari</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">P. Murari</FONT></TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Director</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP>&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ Vaidyanathan Panchapakesan</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">Vaidyanathan Panchapakesan
</FONT></TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Director</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP>&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ K. Mohan Subramanian</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">K. Mohan Subramanian</FONT></TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Wholetime Director</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">March 7, 2001</FONT></TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP>&nbsp;</TD>
<TD WIDTH="34%">&nbsp;</TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="36%" NOWRAP VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">/s/ George Zoffinger</FONT> <HR NOSHADE ALIGN="left" WIDTH="80%" SIZE="1"> <FONT FACE="Times New Roman, Times, serif" SIZE="2">George Zoffinger</FONT></TD>
<TD WIDTH="34%" VALIGN="bottom"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Director</FONT></TD>
<TD COLSPAN="2" WIDTH="30%" ALIGN="center" VALIGN="bottom">
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2">March 7, 2001</FONT></P>
</TD>
</TR>
</TABLE>
<P>&nbsp;</P>
<P><FONT FACE="Times New Roman, Times, serif" SIZE="2"> </FONT> </P>
<FONT FACE="Times New Roman, Times, serif" SIZE="2"></FONT>
<P></P>
<P ALIGN="center"><FONT FACE="Times New Roman, Times, serif" SIZE="2">INDEX TO EXHIBITS</FONT></P>
<TABLE WIDTH="100%" BORDER="0" CELLSPACING="0" CELLPADDING="0">
<TR ALIGN="left" VALIGN="top">
<TD COLSPAN="2" NOWRAP><FONT FACE="Times New Roman, Times, serif" SIZE="2">EXHIBIT NO.</FONT></TD>
<TD WIDTH="3%" NOWRAP>&nbsp;</TD>
<TD WIDTH="87%" NOWRAP><FONT FACE="Times New Roman, Times, serif" SIZE="2">DESCRIPTION OF EXHIBIT</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">4.1*</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Form of Depositary Agreement among the Registrant, Depositary, and the Beneficial Owners from time to time of American Depositary Receipts </FONT><FONT FACE="Times New Roman, Times,
serif" SIZE="2">issued thereunder (including as an exhibit, the form of American </FONT><FONT FACE="Times New Roman, Times, serif" SIZE="2">Depositary Receipt)</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">4.2*</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Registrant's Specimen Certificate for Equity Shares </FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">5.1 </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Opinion of Nishith Desai Associates</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">23.1 </FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Consent of Deloitte Haskins and Sells, India (a member firm of Deloitte Touche Tohmatsu), Independent Auditors</FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%">&nbsp;</TD>
<TD COLSPAN="3">&nbsp;</TD>
</TR>
<TR ALIGN="left" VALIGN="top">
<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">23.2</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Consent of Nishith Desai Associates (see Exhibit 5.1) </FONT></TD>
</TR>
<TR ALIGN="left" VALIGN="top">
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<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">24.1</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Powers of Attorney. Reference is made to page II-4 </FONT></TD>
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<TD WIDTH="6%"><FONT FACE="Times New Roman, Times, serif" SIZE="2">*</FONT></TD>
<TD COLSPAN="3"><FONT FACE="Times New Roman, Times, serif" SIZE="2">Incorporated by reference to the Registrant's Registration Statement on Form F-1 (File No. 333-11984) which was declared effective by the </FONT><FONT FACE="Times New Roman, Times, serif"
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[{"type": "S-8", "sequence": "1", "filename": "0001.htm", "description": "FORM S-8", "secsgml_size_bytes": 43771}]
{"company-data": {"conformed-name": "SILVERLINE TECHNOLOGIES LTD", "cik": "0001115084", "assigned-sic": "7371", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-56754", "film-number": "1564096"}, "business-address": {"street1": "SILVERLINE CORPORATE PLAZA", "street2": "53 KIGHTSBRIDGE ROAQD", "city": "PISCATAWAY", "state": "NJ", "zip": "08854", "phone": "7324570200"}, "mail-address": {"street1": "SILVERLINE CORPORATE PLAZA", "street2": "53 KNIGHTSBRIDGE ROAD", "city": "PISCATAWAY", "state": "NJ", "zip": "08854"}}
FORM S-8
As filed with the Securities and Exchange Commission on March 8, 2001.
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
SILVERLINE TECHNOLOGIES LIMITED
(Exact Name of Registrant as specified in its charter)
REPUBLIC OF INDIA
NOT APPLICABLE
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer Identification No.)
Silverline Technologies Limited
Unit 121, SDF IV,
SEEPZ, Andheri (East)
Mumbai (Bombay) 400096
India
91-22-829-1950
(Address, including ZIP code, and telephone number, including area code, of
registrant's principal executive offices)
Silverline Technologies Limited Stock Option Plan II
(Full title of plan)
Shiva Vohra
Copy to:
Silverline Technologies, Inc.
Rajiv Khanna
Silverline Corporate Plaza
Greenberg Traurig, LLP
53 Knightsbridge Road
200 Park Avenue
Piscataway, NJ 08854
New York, NY 10166
(732) 457-0200
(212) 801-9268
(Name, Address including ZIP Code, and
telephone number, including area code,
of agent for service)
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered
Amount to
be
Registered/1/
Proposed Maximum
Offering Price
Per Share/2/
Proposed Maximum
Aggregate Offering
Price
Amount of
Registration Fee
Equity Shares, par value Rs. 10
per share, to be issued under the
Silverline Technologies, Inc.
Stock Option Plan II
6,000,000
shares
$3.07
$18,420,000
$4,605
/1/
American Depositary Shares, each representing two Equity Shares, issuable
upon deposit of Equity Shares, have been registered on
a separate
Registration Statement on Form F-6 (File No. 333-12000).
/2/
Estimated for options available for grant as of March 6, 2001 in accordance with Rule 457(c) and (h) solely for the purpose of calculating the registration fee, based on the average of
the high and low prices per share of the American Depositary Shares representing the Equity Shares as reported on the New York Stock Exchange, Inc. on March 6, 2001.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
ITEM 1.
PLAN INFORMATION.*
ITEM 2.
REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION.*
*
Information required by Part I to be contained in the Section 10(a)
prospectus is omitted from this Registration
Statement in accordance
with Rule 428 under the Securities Act of 1933 and the Note to Part 1
of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3.
INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents filed with the Commission are incorporated by
reference in this Registration Statement:
1.
The Company's Registration Statement on Form F-1 (File No. 333-11984),
as amended, filed by the Registrant pursuant to the
Securities Act of 1933, as amended (the "
Securities Act
"), relating to the Company's initial public offering of its American Depositary Shares representing two Equity Shares.
2.
The description of the Registrant's American Depositary Shares, each
representing the right to receive two Equity Shares,
contained in the
Registrant's Registration Statement on Form 8-A (File No. 001-15919) filed by the Registrant pursuant to the Securities and Exchange Act of
1934, as amended (the "
Exchange Act
"), including any amendment or
report filed for the purpose of updating such description.
3.
The Company's Registration Statement on Form F-4 (File No. 333-52724), as amended, filed by the Registrant pursuant to the Securities Act.
4.
The Company's Report on Form 6-K filed with the Commission on February 23, 2001 pursuant to the Securities Exchange Act.
All documents filed with the Commission by the Registrant pursuant to Sections 13(a),
13(c), 14 or 15(d) of the Exchange Act, after the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered herein have been sold or which deregisters all securities then
remaining unsold, are deemed to be incorporated by reference in this Registration Statement and to be a part thereof from the date of filing of such documents (such documents, and the documents enumerated in clauses (1) and (2) above, being hereinafter
referred to as "
Incorporated
Documents
").
Any statement contained herein or in an Incorporated Document shall be deemed to be
modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any subsequently filed Incorporated Document modifies or supersedes such first statement. Any such statement so modified or superseded shall not
be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.
ITEM 4.
DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5.
INTEREST OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6.
INDEMNIFICATION OF DIRECTORS AND OFFICERS.
The Company has undertaken to indemnify its directors and officers, to
the extent permitted by applicable law, against certain liabilities,
including liabilities under the Securities Act.
ITEM 7.
EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8.
EXHIBITS.
The following exhibits are filed herewith:
EXHIBIT NO.
DESCRIPTION OF EXHIBIT
4.1*
Form of Depositary Agreement among the Registrant, Depositary, and the
Beneficial Owners from time to time of
American Depositary Receipts
issued thereunder (including as an exhibit, the form of American
Depositary Receipt)
4.2*
Registrant's Specimen Certificate for Equity Shares
5.1
Opinion of Nishith Desai Associates
23.1
Consent of Deloitte Haskins and Sells, India (a member firm of Deloitte Touche Tohmatsu), Independent Auditors
23.2
Consent of Nishith Desai Associates (see Exhibit 5.1)
24.1
Powers of Attorney. Reference is made to page II-4.
*
Incorporated by reference to the Company's Registration Statement on Form F-1 (File No. 333-11984).
ITEM 9.
UNDERTAKINGS.
A.
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration
statement to include any material information with respect to
the plan of distribution not previously disclosed in this Registration Statement
or any material change to such
information in this Registration Statement;
(2)
That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment
shall be
deemed to be a new registration statement relating to the
securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona
fide offering thereof; and
(3)
To remove from registration by means of a post-effective
amendment any of the securities being registered which remain
unsold at the termination of the offering.
B.
The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each
filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the
Exchange Act that is incorporated by reference herein shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
C.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURE
S
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the Town of Piscataway, State of New Jersey, on March 7, 2001.
Silverline Technologies Limited
By:
/s/ Shiva Vohra
Shiva Vohra
Senior Vice President, Corporate Finance
Authorized Representative in the
United States
POWER
OF ATTORNEY AND SIGNATURES
KNOW
ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Mr. Ravi Subramanian, Mr. Shankar Iyer and Mr. Shiva Vohra, and each of them (with full power of each of them to act alone), his or her true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution for him or her and in his or her name, place and stead, in any and all capacities, to sign any amendments to this Registration Statement on Form S-8 (including post-effective
amendments), and to file the same, with all exhibits thereto and other documents in connection therewith, with the U. S. Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do
and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully as to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or any of them, or their substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.
SIGNATURE
TITLE
DATE
/s/ Ravi Subramanian
Ravi Subramanian
Chairman of the Board of Directors
March 7, 2001
/s/ Krishna K. Subramanian
Krishna K. Subramanian
Vice Chairman of the Board of Directors and Executive for International Initiatives
March 7, 2001
/s/ Shankar Iyer
Shankar Iyer
President and Chief Executive Officer (Principal
Executive Officer) and Director
March 7, 2001
/s/ Venkatachalam K. Murthy
Venkatachalam K. Murthy
Senior Vice President and Chief Financial Officer (Principal Accounting Officer)
March 7, 2001
/s/ Arjan R. Daswani
Arjan R. Daswani
Director
March 7, 2001
/s/ S.V. Mony
S.V. Mony
Director
March 7, 2001
/s/ P. Murari
P. Murari
Director
March 7, 2001
/s/ Vaidyanathan Panchapakesan
Vaidyanathan Panchapakesan
Director
March 7, 2001
/s/ K. Mohan Subramanian
K. Mohan Subramanian
Wholetime Director
March 7, 2001
/s/ George Zoffinger
George Zoffinger
Director
March 7, 2001
INDEX TO EXHIBITS
EXHIBIT NO.
DESCRIPTION OF EXHIBIT
4.1*
Form of Depositary Agreement among the Registrant, Depositary, and the Beneficial Owners from time to time of American Depositary Receipts
issued thereunder (including as an exhibit, the form of American
Depositary Receipt)
4.2*
Registrant's Specimen Certificate for Equity Shares
5.1
Opinion of Nishith Desai Associates
23.1
Consent of Deloitte Haskins and Sells, India (a member firm of Deloitte Touche Tohmatsu), Independent Auditors
23.2
Consent of Nishith Desai Associates (see Exhibit 5.1)
24.1
Powers of Attorney. Reference is made to page II-4
*
Incorporated by reference to the Registrant's Registration Statement on Form F-1 (File No. 333-11984) which was declared effective by the
Commission on June 19, 2000.