Suryalakshmi Cotton - Outcome Of AGM

Suryalakshmi Cotton Mills Ltd has informed that the members at the 44th Annual General Meeting (AGM) of the Company held on September 28, 2007, inter alia, have accorded to the following:

1. Adoption of the Balance Sheet as on March 31, 2007 and Profit and Loss Account for the year ended March 31, 2007 along with Directors Report and Auditors Report.

2. Declaration of dividend on 0.1% Cumulative Redeemable Preference Shares for the year ended March 31, 2007.

3. Re-appointment of Sri. Navrang Lal Tibrewal & Sri. R S Agarwal, as Directors of the Company, liable to retire by rotation.

4. Re-appointment of M/s. Brahmayya and Co., Chartered Accountants, Hyderabad as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Authority to the Board for mortgaging and / or charging of immovable properties of the Company situated at Shop Nos. 9 & 10 and Flat at Block E in Surya Towers, Secunderabad in favour of State Bank of India (SBI) to secure the Rupee Term Loan of Rs 30 crores sanctioned by State Bank of India on FIRST CHARGE BASIS and on all the other immovable properties of the Company on SECOND CHARGE BASIS: with interest thereon at the respective agreed rates, compound interest, additional interest, liquidated damages, premia on prepayment or on redemption, cost, charges, expenses and other monies, payable by the Company vide its loan agreement(s) entered into by the Company.