Outcome of the Board Meeting held on 24 May 2014

The Board in its meeting held on 24 May 2014, inter-alia, has considered the following:--

1. Approved Audited Financial Results for the quarter and year ended 31 March 2014. A Copy of Audited Financial Results is placed on the website under Financial Results

2. Recommended a dividend of Rs 1.00 per share (10%) on equity shares of face value of Rs 10/- each for the financial year 2013-14, subject to the approval of the Members at the ensuing Annual General Meeting

3. Approved the Whistle Blower Policy of the Company

4. Approved change in the name of Remuneration Committee to “Nomination and Remuneration Committee” and reconstituted the Committee with Mr Ashok Atluri as the Member of the Committee.

5. Approved change in the name of Share Transfer & Investors’ Grievance Redressal Committee to “Stakeholders Relationship Committee”.

5. Constituted Corporate Social Responsibility (CSR) Committee with the following Directors:

arrow  Mr. G Prasad, Independent Director
arrow  Mr. Ashok Atluri, Chairman and Managing Director
arrow  Mr. M Ravi Kumar, Whole-time Director