Sir Shadi Lal - Outcome Of AGM

Sir Shadi Lal Enterprises Ltd has informed that the shareholders at the 73rd Annual General Meeting (AGM) of the Company held on September 25, 2007, inter alia, have accorded the following:

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

2. Re-appointment of Shri. Onke Aggarwal, Shri. R C Sharma & Shri. P K Viswanathan, as Directors of the Company.

3. Re-appointment of Messrs. Basant Ram & Sons, Chartered Accountants, New Delhi, as Auditors of the Company for the year 2007-08, on Remuneration terms & conditions.

4. Authority to the Board to mortgage and / or charge all or any of the present and future movable and immovable properties of the Company, situated at Village Pilkhani and Ghosipura, Tehsil Nukar, Distt. Saharanpur, U.P. in respect of its Pilkhani Unit and at Shamli, District Muzaffarnagar, U.P., in respect of its units namely Upper Doab Sugar Mills (UDSM) and Shamli Distillery & Chemical Works (SDCW) together with all buildings and structures thereon and all plant and machinery attached to the earth both present and future and the whole of the undertaking of the Company relating to the said units together with the power to takeover the management of the business and concern and / or undertaking of the Company relating to the aforesaid units in certain events of default for the purpose of securing the financial assistance from the respective lenders as mentioned below:

A. Lender: Central Government for its SDF loan : (Secured against first pari passu charge on the entire fixed assets of Company at Shamli i.e. Unit-Upper Doab Sugar Mills and Unit-Shamli Distillery & Chemical Works)

- Financial Assistance: Term Loan of Rs 7.42 Crores (Rs 3.32 Crores and Rs 4.10 Crores)