Ficon Lease - Outcome Of AGM

Ficon Lease & Finance Ltd has informed that the members at the 13th Annual General Meeting (AGM) of the Company held on August 27, 2007, inter alia, have accorded to the following:

(i) Adoption of the Audited Profit & Loss Account for the year ended on March 31, 2007, Balance Sheet as on that date, the Directors Report and the Auditors Report thereon.

(ii) Re-appointment of Mr. Shailesh L Patel & Mr. Amrish J Patel as Directors of the Company.

(iii) Re-appointment of M/s. P Doshi & Associates, Chartered Accountants, Ahmedabad, as Auditors of the Company, to hold office from the conclusion of this Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms and conditions.

(iv) Alternation in the Memorandum and Association of the Company by incorporating sub- clause nos.3 to 5 under, after the existing sub-clause No. 2 in Part A of the Main Objects of Clause III of the Memorandum of Association.

1. To carry on the business as builders, property developers, civil, mechanical and labour contractors, building and erection engineers, dealers in, importers, exporters and manufacturers of prefabricated and pre-cast houses, materials, tools, implements, machinery and metal ware in connection therewith or incidental thereto and to carry on any other business that is customarily, usually and conveniently carried on therewith in or outside India and to purchase, acquire, take on lease or in exchange or in any other lawful manner any area, land, building, structures and to turn the same into account, develop the same and dispose off or maintain the same.

2. To carry on the business of development of hi-technology industrial parks, residential townships, vocational training centers, leisure parks, convention centres and development of other infra structural facilities and to act as technical consultants and advisors in all matters relating to rural and urben infrastructural development.