Brakes Auto - Outcome Of Board Meeting

Brakes Auto India Ltd has informed that the Board of Directors of the Company at its meeting held on January 11, 2008, inter alia, has taken the following decisions:

1. The Board approved the proposal to carry on the business of manufacturing and trading of Gems & Jewellery, diamonds, and gold refinery and other incidental objects relevant thereto.

2. Alteration of Objects Clause of Memorandum of Association and Commencement of New Business:

Approved the alteration of the Other Objects Clause of the Memorandum of Association by inserting a new clause relating to the manufacturing and trading of Gems & Jewellery, diamonds, and gold refinery and other incidental objects relevant thereto and appointed a Committee consisting of Mr. Suresh Sharma, Managing Director and Mr. Indresh Khanna, Director to finalise the Postal Ballot Notice, for obtaining the shareholders approval to the Alteration of Objects Clause and commencement of new business, and appoint Scrutiniser and Alternate Srcutiniser for the purpose of conducting Postal Ballot and take all appropriate steps to implement the above proposal.

AIA Engineering EGM updates

AIA Engineering Ltd has informed that the members at the Extra-Ordinary General Meeting (EGM) of the Company held on November 28, 2006, have authorised the Board to create, offer, issue and allot on behalf of the Company, Equity Shares or any such instrument convertible into Equity Shares or giving the holder a right to subscribe to Equity Shares including fully / partly convertible debentures, bonds, warrants, whether attached to other securities or otherwise or any other securities subscribed to by Investors or Qualified Institutional Buyers (Securities) whether secured by way of charge on the assets of the company or unsecured as may be decided by the Board; whether or not such Investors or Qualified Institutional Buyers are members of the Company; up to an aggregate amount not exceeding Rs 150 Crores, at a price which is not lower than the price to be determined in accordance with the relevant applicable guidelines in this behalf, out of the unissued Authorised Share Capital of the Company, subject to necessary provisions and approvals.