Indo City Infotech - Outcome Of Board Meeting

Indo City Infotech Ltd has informed that the Board of Directors of the Company at its meeting held on January 12, 2007, has consented & approved the Development of existing Owned Free Hold Land of the Company at Talasari, Dist. Thane, State Maharashtra to tap the growing Real Estate Market by Constructing a Township of Approximate 300 Bungalows on the said land as well as to Acquire More Land on Outright Basis for the continuous Development in Accordance with Object Clause 10, 11 & 12 of the Memorandum & Articles of Association of the Company.Further the Company has informed that, Mr. Anil Jain Chairman & Managing Director of the Company has been authorized to sign all the papers & other documents to implement and fully execute the intends & purpose of this Board Meeting held herein.