At theboard meeting
held on August 23, 2004, the board has passed
the following resolutions:
- Under Section 94 (1)
of the Companies Act, 1956 increase in the authorised
capital of the company from Rs 25 crore to Rs
50 crore divided into 2,50,00,000 equity shares
of Rs10/- each and 25,00,000 redeemable preference
shares of Rs 100/-each.
- Amendment of Capital
Clause 5 of the Memorandum of Association of
the company consequent upon increase in the
authorised capital of the company.
- Special Resolution under
Section 31 of the Companies Act, 1956, for alteration
of Article 5 of the Articles of Association
of the company.
- Passing of the aforesaid
resolutions by a postal ballot process for which
the notice is being sent to the members shortly.