Outcome of the meeting of Board of Directors held on March 19, 2010

A meeting of the Board of Directors of the Company at its meeting held on March 19, 2010, considered the following.

To annul the earlier resolution passed at the Annual General Meeting held on September 13, 2002 to increase authorized share capital from Rs.70 crores to Rs.100 crores and approved the alteration of relevant clauses / articles in the Memorandum and Articles of Association to give effect to the same.

To annul the earlier resolution passed at the Annual General Meeting held on September 13, 2002 to increase authorized share capital from Rs.70 crores to Rs.100 crores and approved the alteration of relevant clauses / articles in the Memorandum and Articles of Association to give effect to the same.

The Board approved the notice of the Extra-ordinary General meeting (EGM) scheduled to be held on April 12, 2010 at Shri Rajasthani Jain Samaj, Chennai to consider the annulling of the earlier resolution passed at the Annual General Meeting held on September 13, 2002 to increase the authorized share capital from Rs.70 crores to Rs.100 crores and alteration in the Memorandum and Articles of Association accordingly.