RESULT OF POSTAL BALLOT

The Chairman and Managing Director of the Company announced the Result of Postal Ballot on 12.07.2011. The detail is given in the attached file below:
RESULT OF POSTAL BALLOT

ANNUAL GENERAL MEETING ON 29.08.2011

The Annual General Meeting of the Company is Scheduled to be held on Monday, 29.08.2011 at the Registered Office of the Company. The Notice and Agenda of the Meeting has been sent to the Shareholders of the Company.

BOOK CLOSURE FROM 25.08.2011 TO 29.08.2011

The Register of Members and the Share Transfer Books of the Company shall remain closed from 25.08.2011 to 29.08.2011 (Both days inclusive).

FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2011

The Board of Directors in its Meeting dated 12.08.2011 have approved the Financial Results for the quarter ended 30.06.2011.

The members of the Company in its 31st Annual General Meeting held on 29th August 2011 at the Registered office of the Company, 341 K-1, Mundian Khurd, P.O. Sahabana, Chandigarh Road, Ludhiana-141123, have approved the following matters by way of passing the ordinary/special resolutions with or without modifications unanimously:

1. Adoption of the audited Balance Sheet as at 31 March 2011 and Profit & Loss Account for the year ended on that date alongwith the Reports of the Auditors and Directors thereon.

2. Re-appointment of Mr M D Kanitkar as director of the Company, who retires by rotation and being eligible offered himself for re-appointment.

3. Re-appointment of M/s S S Kothari Mehta & Co., Chartered Accountants, New Delhi as Statutory Auditors of the Company for the year 2011-12.

4. Raising of the funds by way of equity share capital from the investors for an amount not exceeding Rs. 150 crore (Rupees one hundred fifty crore only) in one or more trenches by different modes.

5. Increase in Authorised Share Capital from Rs. 30 Crore to Rs. 50 Crore and alteration in Clause V of the Memorandum of Association of the Company.

6. Alteration in Article 5 and 194 of the Article of Association of the Company.

7. Authorization to the Board of Directors to Mortgage/Hypothecation /create Charge on the Assets of the Company upto an amount of Rs. 600 Crore as per section 293 (1)(a) of the Companies Act, 1956.