Saturday, April 26, 2008

Indiaco Ventures - Outcome Of Board Meeting

Indiaco Ventures Ltd has informed that the Board of Directors of the Company at its meeting held on April 25, 2008, inter alia, has transacted the following business:

1. The Board declared the result of voting of members conducted through postal ballot for the specific items of business which needs members approval. All the three items
of business got the approval of the members.

2. The Board considered and approved making an investment in M/s. Info Dynamics Telesystems Pvt Ltd, a Company engaged in providing Telecom Infrastructure Solutions.

3. The Board approved the formation of a Venture Capital Fund.

4. The Board approved the formation of a portfolio management services Company. Mr. Dhananjay Bendre, Executive Director of the Company has been authorized to start the procedure of formation of the Company or conversion of one of the group Company into a portfolio management services Company.

5. The Board authorized Mr. Dhananjay Bendre, Executive Director of the Company to evaluate investment opportunity in a stock broking Company.

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