1. Board has approved the resolution for increase in Authorized Share Capital of the company from Rs. 130,000,000 to Rs. 230,000,000 and the same have been recommended to Members.

2. In view of the above increase in Authorised share capital. Board has also approved and recommended to the members the alteration in Memorandum and Articles of Association.

3. Board has approved the Issue of Bonus Shares to the existing Shareholders in the proportion of 1 (One) equity share for every 1 (one) existing equity share held by the Members.

4. Board has approved to pass the above proposed members resolution through postal ballot and through e-voting facility and accordingly approve the draft notice to be sent to all the members along with Ballot Form.

5. Board has approved that the above said Postal Ballot Notice is to be sent to all members whose names are appeared in the register of members as on 19 December 2014.

6. Board has approved the Resolution for appointment of C.S. Mohammed Aabid of Aabid & Co., Company Secretary, as scrutinizer for ascertaining the results of Postal Ballot/e-voting process.

7. Board has approved that the signed Ballot Forms should be received back from Members till 15 January 2015 and the period for e-voting facility will be mentioned in notice and Ballot Form.

8. Board has given authority to Compliance officer Abhay Vasant Nerurkar and Sanjay Surendra Tibrewala and Managing Director Surendra Deviprasad Tibrewala to make application to BSE for in-principle approval for Bonus Issue.