OPENING OF BRANCH OFFICE OUTSIDE INDIA

Passing Authority — Board of Directors Nature of the Resolution — Resolution with simple majority “RESOLVED THAT subject to the provisions of the Foreign Exchange Management Act, 1999 and in accordance with the prior approval of the Reserve Bank of India, obtained by the Company, the consent of the Board of directors of the Company be and is hereby accorded to open an overseas branch office of the Company in Dubai at a suitable location as the Managing Director of the Company may finalise in the best interest of the Company and to take all the effective steps as may be required for the above said purposes for and on behalf of the Company from time to time.” “RESOLVED FURTHER THAT Mr. A, Managing Director of the Company be and is hereby authorized to take necessary steps and to do all acts and deeds for opening and operation of the said overseas branch office of the Company.”