1. The Board has recommended, subject to the approval of the shareholders through postal ballot and e-voting, the issue of bonus equity shares by capitalization of reserves in the ratio of 2 (Two) equity shares of Re. 1/- each credited as fully paid-up for every 5 (five) eligible fully paid-up equity shares of Re. 1/- each held by the members. The Bonus shares if approved by the shareholders shall be credited on or before July 26, 2016. The Company shall initiate all necessary steps in this regard.

2. The Board has decided to conduct Postal Ballot pursuant to Section 110 of the Companies Act, 2013 read with Companies (Management and Administration) Rules, 2014, to obtain the approval of shareholders for the issue of the bonus shares and approved the draft of the Postal Ballot Notice.

3. The Board has appointed S. Dhanapal, Senior Partner of M/s. S. Dhanapal & Associates, Practicing Company Secretaries, Chennai as Scrutinizer for the conduct of the Postal Ballot voting process in a fair and transparent manner.

4. The Board has approved the re-appointment of C. Sathyan as Executive Director for a further period of 5 years commencing from June 01, 2016.

5. The appointment of Dhanapal & Associates as Secretarial Auditors for FY 2016-2017.

6. The appointment of STR & Associates as Cost Auditors for FY 2016-2017.

7. The appointment of D. Muthunarayanan & Co., as Internal Auditors for FY 2016-2017.