The Board of Directors has approved the proposal to increase the Authorized Share Capital of the Company from the existing ?16,00,00,000 (Rupees Sixteen Crores only) divided into 8,00,00,000 (Eight Crore) Equity Shares of ?2/- (Rupees Two only) each, to ?60,00,00,000 (Rupees Sixty Crores only) divided into 30,00,00,000 (Thirty Crore) Equity Shares of ?2/- (Rupees Two only) each