Outcome of board meeting of Meuse Kara & Sungrace Mafatlal

Held on 23 August 2014

Meuse Kara & Sungrace Mafatlal announced that the Board of Directors of the Company at its meeting held on 23 August 2014, inter alia, has passed following resolutions:

1. The Board has considered and approved to change the main objects of the company as the company has acquired a 9 Acre land in Vikramghad, Maharashtra for setting up first fully automated marble and granite processing plant in India. Total project cost is Rs 130 crore.

2. The Board has considered and approved to add to its ancillary objects to carry on trade or business of manufactures of or traders, commission agents, buying agents, importers, exporters and dealers in all kinds of electrical goods like bulbs, tubelight, streetlighting system and all parts related to the mentioned electrical goods.

3. The Board has considered and approved to appoint Purabi Jhaveri as Chairman and Managing Director and Resignation of Kavya Amit Singh for the post of Chairman and Managing Director.

4. The Board has considered and approved preferential issue to Non-promoters.

5. The Board has considered and approved to appoint Poonam Somani, practicing company secretary as the Scrutinizer for AGM.

6. The Board has considered and apparoved to increase the Authorize Capital of the Company from Rs 11,00,00,000 to Rs 15,00,00,000.

7. The Board has considered and approved Joint Venture with CIDCO for development, Operation and Management of Greenfield General and Super Speciality Hospitals and Multispeciality at Navi Mumbai, Maharashtra.

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