IOC - Outcome Of AGM

Indian Oil Corporation Ltd (IOC) has informed that the members at the 48th Annual General Meeting (AGM) of the Company held on September 24, 2007, inter alia, have also accorded the following:1. Adoption of the Audited Balance Sheet of the Company as on March 31, 2007 and the Profit & Loss Account for the year ended on that date, together with Directors and Auditors Reports thereon and the comments of the Comptroller and Auditor General of India.2. (a) Declaration of final dividend at the rate of 130% on the Paid-up Capital of the Company for the financial year ended March 31, 2007.(b) Confirmation of Interim Dividend @ 60% on the Paid-up Capital of the Company for the year ended March 31, 2007.3. Re-appointment of Shri. P K Sinha as a Director of the Company.4. Appointment of Shri. B N Bankapur, Shri. S Sundareshan, Prof. (Smt.) Indira J Parikh, Shri. Anand Kumar & Shri. R K Chakraborti, as Directors of the Company, liable to retire by rotation.5. Pursuant to the Order of the Ministry of Company Affairs dated April 30, 2007 according sanction to the Scheme of Amalgamation of IBP Co. Ltd. with the Company, approval of the members of the Company is hereby accorded to the Trust Deed, viz. IOC-IBP Merger Scheme Trust as annexed to the notice of Annual General Meeting.