SBEC Sugar - Outcome Of Board Meeting

SBEC Sugar Ltd has informed that the Board of Directors of the Company at its meeting held on February 20, 2007, has decided to submit a resolution for seeking approval of members under section 372A of the Companies Act, 1956 for taking over the debt of the Financial Institutions and Banks of Modi Industries Ltd (MIL) on assignment basis through the process of Postal Ballot u/s 192 A of the Companies Act, 1956 read with the Companies (Passing of resolution by Postal Ballot) Rules, 2001.