ICSA India - Outcome Of Board Meeting

ICSA India Ltd has informed that the Board of Directors of the Company at its meeting held on March 09, 2007, inter alia, has considered the following points:1. Allotment of 2.5% unsecured 2,200 Foreign Currency Convertible Bonds (FCCBs) at the price of 10,000$ each, issued & subscribed vide offer circular dated March 09, 2007.2. Allotment of 2,20,000 Equity shares of Rs 10/- each, on exercise of conversion option by the Warrant Holders, to whom the Fully Convertible Warrants were allotted videMembers approval pursuant to the EGM held on December 28, 2005.