Outcome of Meeting of the Board of Directors of the Company held on 13th May, 2014

The Company has informed BSE that the Board of Directors of the Company at its meeting held on May 13, 2014, inter alia, has transacted the following:

a) Approved unaudited financial results of the Company for the first quarter ended March 31, 2014
b) Declared interim dividend for 2014 of Rs. 12.50/- per equity shares of Rs. 10/- each; and
c) Based on the recommendation of the Nomination and Remuneration Committee, appointed Mr. R. V. Kanoria as a Non-Executive Independent Director of the Company w.e.f. May 13, 2014. He has been appointed as Additional Director.