MCS - Outcome Of AGM

MCS Ltd has informed that the members at the 22nd Annual General Meeting (AGM) of the Company held on September 22, 2007, inter alia, have also accorded the following:

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

2. Declaration of dividend @ 10% (Ten) on Equity Shares of the Company for the Financial Year ended March 31, 2007.

3. Re-appointment of Mr. A N Shanbhag & Mr. Kapil Gupta as Directors of the Company.

4. Re-appointment of M/s. Amod Agarwal & Associates, Chartered Accountants as Statutory Auditors to hold office up to the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Appointment of Mr. Aniruddha Mitra as a Director of the Company, liable to retire by rotation.

6. Appointment of Mr. Aniruddha Mitra as Whole Time Director of the Company for a period of 3 years with effect from June 20, 2007, on remuneration, terms & conditions.

7. The members of the Company, by way of Postal Ballot, have passed the following resolutions:

- Authority to the Board of Directors of the Company to sell, lease or otherwise dispose of including surrender of leasehold right on lands of the two remises of the Company on lease hold land at Sri. Venkatesh Bhawan, Plot No. 27, Road No. 11, MIDC Area, Andheri (East), Mumbai and Sri. Padmavathi Bhavan, Plot No 93 Road No 16, MIDC Area, Andheri (East), Mumbai as also the items of computer hardware with installed software as remaining there at such consideration and on such terms & conditions in the best interest of the Company and with effect from such date as the Board may in its absolute discretion deem fit & proper, subject to necessary provisions & approvals.