Board Resolution

Hi,

Increase in remuneration —Ordinary Resolution

 (Increase in remuneration without government approval)       

 “RESOLVED that pursuant to the provisions of section 310 of the Companies Act, 1956, the consent of the Company be and is hereby accorded to the increase in the remuneration of Mr. X, the Managing Director of the company from Rs. ………………./- per month to Rs. ……………../- per month by way of salary with effect from ………th ………., 2010, other terms and conditions including commission and perquisites remaining unchanged.

RESOLVED FURTFIER that the Mr…………………, of the Company be and is hereby authorised to make necessary application to the Central Government for seeking their approval to the increase in the remuneration and to do all such acts and things as may be necessary in this regard.”

Increase in Managing Director’s remuneration subject to Central Government’s approval—Ordinary Resolution

 “RESOLVED that subject to the approval of the Central Government, consent be and is hereby accorded to the payment of increased remuneration to Mr. …………….., the Managing Director of the company in terms of the supplemental agreement entered into between the company and Mr. ……………. a copy of which is placed before the meeting and initialled by the Chairman.”