Solar Business Presentation

November 2008

Exhibit 99.1

Legal Notice & Safe Harbor

Stockholders of Trans-India Acquisition Corporation (“TIL”) and other interested persons are advised to read TIL’s preliminary

proxy statement filed with the Securities and Exchange Commission (the “SEC”) by TIL on November 12, 2008 and the definitive

proxy statement, when available, in connection with TIL’s solicitation of proxies for the special meeting to approve the proposed

transaction with Solar Semiconductor Ltd. (“SSL”) because these proxy statements will contain important information. The definitive

proxy statement will be mailed to stockholders as of a record date to be established for voting on the proposed acquisition. The

preliminary proxy statement and other relevant materials (when they become available) and any other documents filed by TIL with

the SEC may also be obtained free of charge at the SEC’s website at http://www.sec.gov. In addition, stockholders may obtain free

copies of the documents filed with the SEC by TIL by directing request to: Trans-India Acquisition Corporation, 300 South Wacker

Drive, Suite 1000, Chicago, Illinois 60606, Attention: Craig Colmar, Secretary and Treasurer.

This presentation contains forward-looking statements that involve substantial risks and uncertainties including statements

regarding the expected growth of the solar photovoltaic market, Solar’s projected revenue, sales and net income in future periods,

Solar’s backlog, the impact of the earnout to shareholders, demand for solar photovoltaics and the drivers of such demand, cost

advantages, the development of Solar’s new Fab City facility, the installation of new module manufacturing lines and cell

manufacturing lines at such facility, module and cell manufacturing capacity, in-house production of PV cells, commitments and

obligations under Solar’s long-term supplier and customer agreements and Solar’s ability to lease additional land for further

expansion. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” “would”

and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain

these identifying words. The parties may not actually achieve the plans, intentions or expectations disclosed in the forward-looking

statements, and investors should not place undue reliance on the forward-looking statements. Actual results or events could differ

materially from the plans, intentions and expectations disclosed in the forward-looking statements made by the parties. Important

factors that could cause actual results or events to differ materially from the forward-looking statements, include among others: (i)

legislation or regulatory environments, requirements or changes adversely affecting the business in which Solar is engaged; (ii)

continued compliance with government regulations; (iii) fluctuations in customer demand; (iv) management of rapid growth; (v) the

time to develop and market new products; (vi) the successful development of Solar’s new facility and installation of new

manufacturing lines; (vii) general economic conditions; (viii) geopolitical events; (ix) changing principles of generally accepted

accounting principles; and (x) access to capital. Further, the forward-looking statements do not reflect the potential impact of any

future acquisitions, mergers, dispositions, joint ventures, collaborations or investments. Additional information concerning the

forward-looking statements is confined under the heading “Risk Factors” in the preliminary proxy statement filed by TIL on

November 12, 2008 and other filings with the SEC from time to time. Neither TIL nor SSL assumes any obligation to update any

forward-looking statements.

Table of Contents

Market Overview

Transaction Overview

Business Overview

Strategy/Roadmap

Conclusion

Appendix

Table of Contents

Market Overview

Market Opportunity: Growth + Penetration

Energy is a huge market (60,000 gigawatts) and growing!

Technology + economies of scale (not subsidies) have driven down

price per watt of installed PV systems from $20 to $8

Solar, a $17 bn

market in ‘07, is just 0.01% of the overall energy

market –

poised for even more growth as costs get to par with fossil

fuels

Demand

Drivers

Even with 30-40%

growth rates, solar

(both thermal and PV)

will be only about 1.0%

of global installed

capacity and 0.4% of

global generation in

2011

* Source: Solar Generation V –

2008, A report by European Photovoltaic Industry Association (EPIA)

0.4%

0.2%

0.5%

0.2%

0.7%

0.3%

1.0%

0.4%

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%

2008E

2009E

2010E

2011E

Capacity (%)

Generation (%)

Table of Contents

Transaction Overview

Exciting Sector, Exciting Company

The

Solar

Energy

Sector

has/will

exhibit

strong

growth

(30-40%

)

Management team with track record of shareholder value creation and

relevant semiconductor/high tech experience

Backlog of approximately $2 billion in revenue through 2011

Top tier suppliers and customers

Strategic roadmap to make attractive returns in a sector where winners

need to reduce ASPs by half by 2012 (grid parity)

Low cost manufacturing plus skilled workforce located in India

Attractive investment in a growth industry

* Source: Solar Generation V –

2008, A report by European Photovoltaic Industry Association (EPIA)

Transaction Summary

Closing

Terms

(1)

—

Closing consideration: $200M of TIL common stock

valued at $8 per share

—

Earn out: up to $275M of additional common stock

based on demonstrated business performance (baseline

performance

$50M

adjusted

net

income

(2)

)

Earn Out Calculation:

—

Based on SSL’s

adjusted net income

(2)

for FY 2010,

the consideration to be paid to shareholders of SSL,

may

be adjusted as follows;

If SSL’s

adjusted net income

(2)

for FY 2010 is

between

$28.1M

and

$50M,

the

purchase

price

will be increased by an amount equal to the

amount by which the FY 2010 adjusted net

income is greater than $28.1M multiplied by 8.

If SSL’s

adjusted net income

(2)

is greater than

$50M, the purchase price will be increased

additionally by the lesser of: (a) $100M or (b) an

amount equal to the amount by which the FY

2010 adjusted net income exceeds $50M

multiplied by 4.

(1)

Amounts assume 100% acquisition of SSL equity at closing.

(2)

Adjusted net income differs from US GAAP net income. Certain expenses are added back to GAAP net income to determine adjusted net income.

These include certain stock related compensation expenses, expenses associated with the TIL acquisition of SSL, and any costs associated with

listing

different

national

exchange.

This

fully

described

TIL's

preliminary

proxy

statement

field

with

the

SEC

November

12,

2008.

(3)

Assumes

exercise

TIL

conversion

rights

TIL

stockholders.

Approximately

upto

$28

million,

subject

conversion

and

payment

TIL

stockholders as of September 30, 2008.

Proposed

Sources

Uses

Cash

(3)

Sources:

Available Cash –

TIL -

$85M

Uses:

Working Capital (Si) -

$45M

Cell Expansion -

20M

Module Expansion -

10M

Cash on Balance Sheet -

10M

Total

$85M

Table of Contents

Business Overview

Company Overview

Projected revenue growth from $15M in FY

2008 to $140M in FY 2009E

–

200 MW of total module capacity by December 2008

–

405 MW of total module capacity by 2010

–

30 MW of cell manufacturing capacity by March 2009

–

50 MW of thin film capacity by 2009

Overview

Incorporation

Global Company founded in 2006 by Hari

Surapaneni and Venkata Kode

Summary

Financials

Manufacturing

Locations

Kompally

and FabCity

near Hyderabad, India

–

35,000

facility

Kompally

–

160,500

facility

FabCity

coming

online

December

2008

–

50 acre FabCity

campus with the option to expand to 100

acres

Employees

564 full-time employees as of September

2008

Our Products & Services

Family of

mono and

multi

crystalline

modules

Current

Roadmap

Solar cells

Thin film

Power

Plants

Strong and Experienced Management Team

Hari Surapaneni

President & CEO

Bill Bush

Chief Financial Officer

Nava Akkineni

Executive Vice President,

Sales & Marketing

SSN Prasad

VP –

Worldwide manufacturing

& India Operations

Name

Position

Previous experience

Venkat Kode

Chief Strategy Officer

Mike Ross

VP –

Legal, HR & Admin

Vishnu Reddy

VP –

Quality and Reliability

•

All logos are the trademarks of the respective companies

Significant relevant

experience to execute our business plans

Strategic Partnerships

•

All logos are the trademarks of the respective companies

Unique positioning with respect to strategic relationship

with top tier companies

India: An Attractive Market for Operations

Subsidized cost of land

66 year low cost lease

Access to English speaking

workforce

Engineer salary: $12,000/yr

Technician salary: $3,000/yr

Tax incentives

No income tax for 10 years

No customs duties

Lower cost power and water

Eligible for 20% subsidy on CapEx

(1)

FabCity

S.E.Z.

Hyderabad

(1) Subsidies realized after the total CapEx reaches $250MM

Lower transportation costs due

to proximity to shipping ports

Product Quality Focus

Date

Certification

Nov 2007

CE certification

Jan 2008

ISO 9001:2000

certification

Feb 2008

IEC 61215 certification

Feb 2008

IEC 61730 certification

March 2008

CSA listing

April 2008

TÜV

certification

December 2008

(expected)

Full UL certification

Automated

lines

Six

Sigma

Quality

Circles

SPC

Lean

manufacturing

“Solar Semiconductor has demonstrated the emphasis and focus on the quality of their Solar Photovoltaic modules, and

unequivocally gives Solar Semiconductor a leadership status in the Photovoltaic manufacturing market…they have consistency in

their production process and their product quality is exceptionally high”

Enrico

Ruhle

(MD), TÜV Rheinland, June 2008

Recognized by TÜV Rheinland, a quality certifying body

Table of Contents

Strategy/Roadmap

Strategy/Roadmap

Strategy

Roadmap to achieve grid parity

Limit exposure to long term

supply contracts at high prices

Best in class practices

Manufacturing –

processes

co-developed with industry

leaders

Working capital

management –

contract

manufacturing

Supply chain -

e.g. SAP

Focus on quality and innovation

Roadmap

Broad product line, multiple

technologies, and services

2007: Manufacture PV

modules

2009: Manufacture Cells,

Thin Film, and System

Integration

Diversify into Energy Sales

MG Silicon

Poly Silicon

Silicon

Wafers

PV Cells

PV Modules

Strategy/Roadmap –

Value Chain

Thin Film

SOLAR Semiconductor in the

value chain

Channels

Direct

Strategy/Roadmap –

Future (closer than we think!)

Total PV System Cost

$3.76

$2.00

$3.60

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

Current

Future

Modules

Installation

$7.36

$4.00

Long term view that upstream supply will dramatically reduce costs for solar participants

across value chain

Near term: did not lock in long term cell contracts at uneconomical prices

Long term: QUALITY will become key differentiator, not cost

Rapid Capacity Expansion & Backlog

Our rapid capacity expansion and low cost manufacturing allow us

to take

advantage of demand opportunities through OEM and direct sales efforts

Capacity

Thin Film Unfunded

Cell Funded

Cell Unfunded

Module Funded

Module Unfunded

100

150

200

250

2009

2010

2011

2012

2013

2014

Backlog and Number of Customers

Backlog

195

150

195

105

210

100

150

200

250

300

350

400

450

Thin Film Cell Module

2007A

2008E

2009E

2010E

Thin Film Cell Module

Summary Financials

Solar Semiconductor is rapidly growing, matching capacity increases with

significant operating leverage

Unaudited

Results

Year Ended

3/31/08

6 Months

Ended

9/30/08

FY2009

Ended

3/31/09

(Projected)

Revenue

$15.2M

$54.5M

$140.0M

Year to Year

Increase

Not

Meaningful

Not

Meaningful

833%

Business Focus:

Capacity expansion

Sourcing

components

economically

Minimization of

foreign exchange

impacts

Yield Management

•

Unaudited interim results

•

The company did not have comparable revenues in the prior period

Table of Contents

Conclusions

Conclusions

SSL has paced well in its early years compared to industry leaders

SSL benefits from strong industry relationships with leading customers and

suppliers

Management team with significant relevant experience

Product offering focused on quality

High sales backlog providing good visibility

Table of Contents

Appendix

Management Disclosure

Management believes that its comparable companies can be classified in 2

categories based on qualitative measures

Management believes that Tier I companies include: First Solar, Suntech

Power

Holdings, Sunpower

Corporation, Renewable Energy Corporation, Q-Cells,

Solarworld, Ersol

Solar Energy, Motech, Energy Conversion Devices, SMA Solar

Technology, E-Ton Solar Tech, and Solon

Management believes that Tier II companies include: Solarfun

Power Holdings,

Canadian Solar Inc., Yingli

Green

Energy Holdings Co. Ltd., Trina Solar Ltd.,

Evergreen Solar Inc., LDK Solar, JA Solar, China Sunergy, Solar-Fabrik, and Sunways

Tier-Wise Sector Valuation

Management believes its qualitative characteristics are

more similar to Tier 1 companies than Tier 2

The Solar Sector has performed extremely well since 2005 –

A broad set of solar comparables have increased revenue and earnings by 180.6% and 203.8% versus the S&P

500, which has experienced revenue and earnings growth of 10.9% and (19.9%) respectively

Additionally,

there

wide

divergence

between

Tier

and

Tier

valuations

6.4x

4.4x

1.03x

Current

Estimates**

32.7x

20.3x

8.10x

Historical

Average*

Sector

19.1x

13.8x

8.50x

Historical

Average

Tier II

3.1x

2.3x

0.52x

Current

Estimates

Tier I

Historical

Average

Current

Estimates

EV/Fwd.Sales

7.44x

1.58x

EV/Fwd.EBITDA

24.7x

6.3x

P/Fwd.E

41.7x

9.2x

Prices as on November 12, 2008

* Historical

averages

are

based

year

historical

Wall

Street

forward

estimates

** Current estimates are CY 2009 data from Wall

Street

research

Comparisons based on Management judgment

Sales Velocity Compared to Industry Leaders (Tier I)

SSL compared to industry leaders:

•

U.S. accreditation 5 years before Suntech at similar stage

•

Diversified geographic sales base versus First Solar

Comparison based on Management judgment

•

First

Solar’s

commencement

year

was

2003

and

the

year

estimate

from

Wall

Street

research

•

Suntech’s

commencement

year

was

2002

and

the

year

estimate

from

Wall

Street

research

•

SunPower’s

commencement

year

considered

2003

and

the

year

estimate

from

Wall

Street

research

0.0

200.0

400.0

600.0

800.0

1,000.0

1,200.0

1,400.0

1,600.0

1,800.0

2,000.0

2,200.0

Year 1

Year 2

Year 3

Year 4

Year 5

Year 6

Year 7

First Solar

Suntech

Sunpower

SSL (estimated)

Key Leadership Characteristics

Management believes SSL’s

characteristics are

comparative to Tier I players in the industry

Comparisons and ratings based on Management judgment

Tier I

Tier I Customers &

Suppliers

Sales Reach

Diversity

Vertical Integration

Horizontal

Integration

Solar Semiconductor

Management

Visibility

Quality

Perceived

Real

Solar Semiconductor

Tier I

Tier I Customers &

Suppliers

Sales Reach

Diversity

Vertical Integration

Solar Semiconductor

Management

Visibility

Quality

Perceived

Real

Solar Semiconductor

Backlog/Visibility

•

Based on Wall

Street

research estimates in early 2007 for 2008

Comparisons and ratings based on Management judgment

Company 1

Company 6

Company 2

Company 3

Company 4

Company 5

Company 7

Company 8

1.0

2.0

3.0

4.0

5.0

6.0

Low Visibility

Strong Visibility

Backlog

Implied Valuation based on potential Fiscal

2010 (March 31, 2010) Adjusted Net Income

2010 Adjusted Net Income*

PE Multiple Paid to SSL

Valuation of SSL

Total Trans-India Shares Payable to SSL for Merger

Less Shares Attributable to SSL Options and Warrants Assumed**

Total Paid to SSL at Closing

Outstanding

Treasury

Method

(Post

Offering)

Trans-India Common Shares

Trans-India Warrants (Using Treasury Methodology)***

Trans India Shares Issued to SSL at Closing

Trans-India Shares Attributable to SSL Options and Warrants Assumed**

Estimated Fully Diluted Shares Outstanding (under Treasury Methology)

2010 Adjusted Net Income*

Fully Diluted Shares at Closing (Under Treasury Methodology)

Adjusted Earnings Per Share

Minimum Share Price

Implied PE at $8.00 Share Price

** The 3.1 million shares refer to the 5.5 million shares options and warrants under the treasury method with average exercise price of $3.48 on TIL basis

* U.S. GAAP Net Income numbers adjusted for:

1. Certain stock related compensation expenses

2. Any transaction expenses associated with Trans-India-SSL merger

*** The 11.7 million Trans-India warrants outstanding under the treasury method at $8.00 per share stock price

$25,000,000

$28,125,000

$50,000,000

$75,000,000

8.0

7.1

7.5

6.3

$200,000,000

$375,000,000

$475,000,000

25,000,000

46,875,000

59,375,000

3,129,954

21,870,046

43,745,046

56,552,789

14,200,000

4,387,500

21,870,046

43,745,046

56,552,789

3,129,954

43,587,500

65,462,500

78,270,243

$25,000,000

$28,125,000

$50,000,000

$75,000,000

43,587,500

65,462,500

78,270,243

$0.00

$0.57

$0.65

$0.76

$0.96

$8.00

NMF

13.9

12.4

10.5

8.3