The board has decided to increase the authorized capital of the company from Rs 18 crore to Rs 50 crore.

The board has approved the allotment of 8% redeemable preference shares upto Rs 20 crore subject to necessary approval.

The board has approved the allotment of 10% redeemable non-convertible debentures upto Rs 15 crore.

This was decided at the board meeting held on 20 October 2008.