IFB Industries - Outcome Of AGM

IFB Industries Ltd has informed that the members at the 31st Annual General Meeting (AGM) of the Company held on September 05, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2007 and Profit & Loss Account for the year ended as on that date together with the Directors and Auditors Report thereon.

2. Re-appointment of Dr. Rathindra Nath Mitra & Mr. Somen Bal, liable retire by rotation.

3. Appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, as Auditors of the Company from the conclusion of this Annual General Meeting upto the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

4. Appointment and payment of remuneration of Mr. Bijon Nag, a permanent Director of the Company as the Executive Chairman for a period of 5 years with effect from June 01, 2007, on terms and conditions.

5. Delisting of securities, the equity shares (Equity) of the Company listed with Calcutta Stock Exchanges through the Voluntary Delisting Option and that the Companys Equity Shares be continued to be listed with Mumbai and National Stock Exchanges, pursuant to the Securities & Exchange Board of India (Delisting of Securities) Guidelines, 2003 (GUIDELINES).