Kpit Cummins Infosystems Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 16, 2007, inter alia, have considered and approved the following proposals:
1. Issuance and allotment of upto 1,631,747 equity shares on preferential basis at the price of Rs 130.09 each to Cummins Inc. USA; and
2. Appointment of Mrs. Jayada Chinmay Pandit and Mr. Chinmay Pandit, relatives of Mr. S B (Ravi) Pandit, Chairman & Group CEO (to hold or to continue the office of place of profit) in KPIT Infosystems Inc. USA, a wholly subsidiary of the Company.
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