The capitalization of a sum of Rs 22,68,50,140 standing to the credit of company's free reserves such as general reserve, accumulated balance in profit & loss account, securities premium account etc. for the issue of bonus equity shares in the manner of 1,14,50,136 equity shares of Rs 10 each to the equity share holders whose name appears in the Register of Members, 17,49,864 equity shares of Rs 10 each to be kept in reserve to be offered to the CCPS upon the conversion of CCPS into equity shares in proportion of two bonus shares for each CPS held on the date of conversion, 83,40,000 equity shares of Rs 10 to be kept in reserve to be offered to the convertible warrant holder as on 24 July 2009 upon the conversion of warrants into equity shares in proportion of two bonus shares for each warrant held on the date of conversion.

The members have also appointed Madan Goyal as director of the company and accepted the resignation of P R K Reddy from the directorship of the company.

This was approved at the extra ordinary general meeting held on 24 August 2009.