TO WHOMSOVER IT MAY CONCERN

This is to certify that Mr. Deepak Khatwani has worked with us as an Equity Research Analyst from 21st December 2010 to 28th March 2011. During his tenure, we found him very hard working and intelligent and his services were found to be satisfactory. We wish him all the best in his future endeavors.

For Aadhar Securities Pvt. Ltd.

Manager-HR

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