We would like to inform you that the Board of Directors at their Meeting held on today discussed and approved the following:
1. To invest upto Rs.20 00 00 000/- (Rupees Twenty Crore only) in Debentures to be issued by IndiaNivesh Shares and Securities Private Limited a wholly owned subsidiary in one or more tranches;
2. To invest upto Rs.25 00 00 000/- (Rupees Twenty Five Crore only) in Debentures to be issued by IndiaNivesh Securities Limited a wholly owned company in one or more tranches.
