Financial Eyes - Outcome Of Board Meeting

Financial Eyes India Ltd has informed that the Board of Directors of the Company at its meeting held on February 15, 2008, inter alia, has discussed the following:

1. The Board of Directors has decided to take shareholders consent, authority and approval through Postal Ballot for the following items:

(a) Change in Main Object Clause.

(b) Increase in the Authorized Share Capital and Alteration of the Memorandum of Association and Article of Association of the Company.

(c) Appointment of Whole - Time Director

(d) Allowing FII to invest

(e) Preferential Allotment through ADR / GDR issue.

2. The Board of Directors has appointed Mr. Praveen Rastogi (FCS), as scrutinizer for the purpose of Postal Ballot.

3. The Board of Directors has also authorized Mr. Mukund Sharan, Director and Ms. Hitesh, Company Secretary of the Company as officers authorized to ensure smooth conduct of the Postal Ballot process.

4. The Board of Directors has approved Notice along with its explanatory statement to be sent to its shareholders under section 192A of the Companies Act, 1956

Financial Eyes - Outcome Of Board Meeting

Financial Eyes India Ltd has informed that the Board of Directors of the Company at its meeting held on January 30, 2008, inter alia, has discussed the following:

1. The Board considered and decided establishment of Branch office / Wholly Owned Subsidiary in Jordan and Singapore.

2. The Board decided to shift registered office of the Company from H-41, 2nd Floor, Masjid Moth, Greater Kailash II, New Delhi - 110048 to F-58, Okhla Industrial Area, Ph- II, New Delhi 110020 w.e.f. March 01, 2008.

3. The Board decided to appoint Mrs. Abhilasha Agarwal as Whole Time Director for a period of 5 years w.e.f. February 01, 2008, on remuneration, terms and conditions.

4. The Board decided to amend the Main object Clause of the Memorandum of the Company in order to insert a new Business Line relating to Power, Energy Industry through Postal Ballot and Mr. Mukund Sharan, Director and Ms. Hitesh, Compliance Officer of the Company are authorized to do all acts, deeds, and things required for the same.

5. The Board decided to increase the Authorized Capital up to Rs 10 Crores and amend Capital Clause in the Memorandum and Article for the same, through Postal Ballot and Mr. Mukund Sharan, Director and Ms. Hitesh, Compliance Officer of the Company are authorized to do all acts, deeds, and things required for the same.

6. The Board decided to raise funds Via FCD, OCPS, ADR, GDR, Allotment to QIP, subject to the approvals required under various Laws, Acts and Regulations.

7. The Board has decided to allow the FIIs to invest Maximum up to 24% Of the paid-up Capital subject to the approval of Shareholders.