Tulip IT Services - Outcome Of Board Meeting

Tulip IT Services Ltd has informed that the Board of Directors of the Company at its meeting held on May 21, 2007, inter alia, has considered the following business, subject to the approval of the shareholders:1. Increase in Authorised Capital of the Company.2. Further Issue of Capital in accordance with Section 81(1A) of the Companies Act, 1956.3. Authority to the Board of Directors for increase in Borrowing powers in terms of Section 293(1)(d) of the Companies Act, 1956.4. Authority to Board of Directors for creating charge / mortgage on the assets of the Company in terms of Section 293(1)(a) of the Companies Act, 1956.