Outcome of board meeting of Baid Leasing & Finance Co

Held on 16 May 2015

Baid Leasing & Finance Co announced that the Board of Directors of the Company at its meeting held on 16 May 2015, inter alia, has transacted the following business:

1. Considered and approved the Appointment of Secretarial Auditor as required under Section 204 of Companies Act, 2013;

2. Considered and approved the Appointment of Internal Auditor;

3. Considered and approved the date of Annual General Meeting and along with the notice of the Annual General Meeting of the company and related matters;

4. Considered and adopted the following Codes pursuant to Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;

i) Code of Fair Disclosure and;

ii) Code of conduct;

5. Considered and approved the proposal of conducting postal ballot process to seek the Consent of members for authorizing the Board for:

i) Authorisation for borrowing money u/s 180 (1) (c) Of The Companies Act, 2013 upto a sum of Rs. 250,00,00,000/- (Rupees Two Hundred and Fifty Crores Only).

ii) Creation of mortgage or charge, sell, lease or otherwise dispose off the whole or Substantially the whole of the undertaking(s) of the Company under Section 180(1)(a) of the Companies Act,2013 to secure borrowings upto a sum of Rs. 250,00,00,000/- (Rupees Two Hundred and Fifty Crores Only).

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