In terms of Clause 36 (7) (ii) of Listing Agreement, the Board of Directors
has, subject to approval by Shareholders by Special Resolution and sanction
of Hon’ble Bombay High Court, passed a resolution at its meeting held on
25th February 2010, to propose reduction of paid-up share capital to the
extent of Rs. 3,30,48,000/- to be written off against the total losses and
subsequent consolidation of Shares into shares of face value of Rs.500/-
each fully paid-up.
