Information Given to Stock Exchanges

Outcome of EGM on March 03, 2008

The Extra Ordinary General Meeting (EGM) of the company was held on March 3, 2008, has unanimously discussed and approved the following resolutions:

• Approved Issue of GDR/ ADR/ FCCB and other instruments not exceeding 25 Million USD subject to approval of other authorities.
• Approved amendment of Articles of Association of the Company for facilitating allotment options/ shares of the Company under Employee Stock Option Plan (ESOP) or Employee Stock Option Scheme (ESOS).
• Approved allotment of equity shares/ options of the Company and/ or warrants to such person or persons who are permanent employees of Company and the Directors (Including Whole-Time Directors of the Company) under Employee Stock Option Plan (ESOP) or Employee Stock Purchase Scheme (ESPS) subject to the conditions that the total no. of shares issued or that may arise on conversion at any point of time shall not exceed 5% of the issued equity shares of the Company and subject to approval of the other authorities.
• Approved extension of the above facility under envisaged under (3) above to the eligible employees of the subsidiary Companies and if permitted by law to the eligible employees of the associate Companies.