Outcome of meeting of the Board of Directors of the Company held on 29thJuly, 2015

The Company has informed BSE that the Board of Directors of the Company at its meeting held on 29th July, 2015, inter alia, has approved:

a) unaudited financial results of the Company for the quarter and half year ended 30th June, 2015;

b) appointment of Mr. Suresh Narayanan (DIN: 07246738) as Managing Director of the Company with effect from 1st August, 2015; and

c) seek consent of Members by means of Postal Ballot on the proposal of the Appointment of Mr. Suresh Narayanan as Managing Director.