In the Twelfth Annual General Meeting of the company held on Friday, September 08, 2006 at 11:00 AM at the registered office, the audited balance sheet as of 31-03-2006 and the profit and loss account for the year ended on that date were received, considered and adopted.

The Board of Directors decided to opt for preferential allotment / issue of not more than 25,00,000 shares consisting of 25% of authorized capital to NRIs / FIIs / OCBs / Mutual Funds / Promoters and other investors, employees as stock options.

An ordinary resolution was passed for the appointment of Mr. Kedar Mehta as Director of the company..