VBC Industries - Outcome of Board Meeting

VBC Industries Ltd has informed that the Board of Directors of the Company at its meeting held on December 07, 2007, inter alia, has considered and passed the following resolutions:

1. In view of the final hearing to be held in a few days and subject to the approval of the Scheme by the Honble High Court of Andhra Pradesh, the Board considered and approved the Combined Financial Statements along with Directors Report, Auditors Report and other Annexures for the year ended March 31, 2007.

2. Recommended re-appointment of Sri. GL Tandon & Sri. R K R Goneka as Non-Executive & Independent Directors who are liable to retire by rotation.

3. Recommended re-appointment of M/s. Brahmayuya & Co., Chartered Accountants, Visakhapatnam, as Auditors of the Company to hold office from the conclusion of this AGM till the conclusion of the next AGM of the Company.

4. Consented for passing resolution u/s 293(1)(d).