Kilitch Drugs - Notice of Postal Ballot

• Security Code: 524500
• Company: KILITCH

Kilitch Drugs India Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the Resolutions as under:

1. Alternation of the Articles of Association by insertion of new Articles No. 185, 186 and 187, after the existing Article No. 184, of the Articles of Association of the Company.

2. Authority to the Board for mortgaging and / or creating a charge on such terms and conditions as the Board may deem fit, on all or any part of the movable and for immovable properties of the Company, wheresoever situated, both present and future, and on the whole or substantially of the undertaking of the Company (save and except the current assets that are or may be hypothecated and / or pledged in favour of the Company’s bankers for securing borrowings for working capital requirement) in favour of one or more Banks and / or financial institutions and / or trustee/s of debenture holders and / or others to secure term loans borrowed / to be borrowed and / or debentures issued / to be issued whether on a rights basis to the shareholders of the Company and / or to the public and / or to any other person or persons, in terms of any Loan Agreement / Letter of Sanction / Memorandum or the terms and conditions of Debenture Trust Deed entered into to be entered Into by the Company in respect of such Finance and / or Debentures, subject to necessary provisions & approvals.

3. Authority to the Board for borrowing from time to time, any sum or sums of monies which together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company’s Bankers in the ordinary course of business), may exceed the aggregate of the paid up capital of the Company and its free reserves, that is to say, reserves not set apart for any specific purpose, provided that the total amount so borrowed by the Company shall not at any time exceed a limit of Rs 500 Crore (Rupees Five Hundred Crore Only) plus paid up Capital and free reserves, subject to necessary provisions & approvals.

The Company has appointed Mr. Jagdish Patel, Company Secretary, as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.

The Postal Ballot form duly completed should reach the scrutinizer on or before July 19, 2008. The scrutinizer will submit his report to the Chairman after completion of the scrutiny and the results of the postal ballot will be announced on July 21, 2008.