Rain Commodities - Outcome Of EGM

Rain Commodities Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on June 04, 2007, inter alia, have approved the following:1. Re-classifying Rs 51 crores of Preference share capital in Authorised Share Capital into equity share capital.2. Increased the borrowing powers of the Board of Directors to borrow up to Rs 1000 Crores3. Authorised the Board of Directors of the Company to create Charge / mortgage / hypothecation on Assets in favour of the Banks & Financial Institutions for securing the amount not exceeding Rs 1000 Crores.