The members have accorded the board with power to delegate all or any of the powers conferred to any committee thereof to create, offer, issue, allot and deliver in one or more tranches on a preferential basis up to 4,50,000 equity shares of the company of face value Rs 10 each for cash with the existing equity shares of the company at a price of Rs 135 being a price not lower than the price to Rakesh Jhunjhunwala and Rekha Jhunjhunwala.

The members have accorded the board with power to delegate all or any of the powers conferred to any committee thereof to create, offer, issue, allot and deliver in one or more tranches on a preferential basis up to 4,50,000 warrants carrying an entitlement to subscribe to an equivalent number of equity shares of Rs 10 each for cash with the existing equity shares of the company at a price of Rs 135 being a price not lower than the price to Rakesh Jhunjhunwala, and Rekha Jhunjhunwala not belonging to promoter group.

Further, the members have accorded the board with power to delegate all or any of the powers conferred to any committee thereof to create, offer, issue, allot and deliver in one or more tranches on a preferential basis up to 3,50,000 warrants carrying an entitlement 10 subscribe to an equivalent number of equity shares of Rs 10 each for cash with the existing equity shares of the company at a price of Rs 135 being a price not lower than the price to Kishore Dutt Atluri, president of the company and M Ravi Kumar, whole-time director (promoter of the company).

This was accorded at the extra ordinary general meeting held on 19 February 2008.