DECLARATION OF THE RESULT OF POSTAL BALLOT
The result of the voting conducted through Postal Ballot pursuant to Section 192A of the Companies Act, 1956, read with the Companies (passing of the resolution by postal ballot) Rules, 2001 vide notice dated 30th December 2010 on the following matters is given below:
Resolution 1: To hive-off the residential unit/projects of Real Estate Business of the Company under Section 293(1)(a) of the Companies Act, 1956 (Act) (Ordinary Resolution); and
Resolution 2: To pay commission to Non-executive Directors of the Company under Section 309 of the Act (Special Resolution)
Accordingly the resolutions 1 & 2 as set out in the Notice dt. 30.12.2010 have been approved by the shareholders with requisite majority.