Announcements

Outcome of the Board Meeting held on 17 March 2008 (clause 22 of the Listing Agreement)

Pursuant to the members approval at the Extra Ordinary General Meeting (EGM) held on 19 February 2008, Board of Directors of the Company in their meeting held on 17 March 2008 has approved the following:

  1. Allotment of 4,50,000 (Four Lakh fifty thousand only) Equity Shares of Rs.10/- each at a price of Rs.135/- per share to Mr.Rakesh Jhunjhunwala and Mrs.Rekha Jhunjhunwala.
  2. Allotment of 8,00,000 (Eight Lacs only) warrants of Rs.10/- each at a price of Rs.135/- per warrant convertible into Equity Shares on a Preferential Basis to Mr.Rakesh Jhunjhunwala, Mrs.Rekha Jhunjhunwala, Mr. Kishore Dutt Atluri and Mr. M.Ravi Kumar.