Outcome of AGM

• Security Code: 505688
• Company: BHARATGEAR

Bharat Gears Ltd has informed BSE that the Annual General Meeting (AGM) of the Company was held on July 29, 2010, inter alia, have unanimously passed the following:

1. The Audited accounts of the Company for the year ended March 31, 2010 together with Reports of the Auditors and Directors thereon was considered and adopted by the members of the Company.

2. Dividend on preference shares @ Rs. 10/- per preference share for the year 2009-10 was declared by the members of the Company, out of the current profits of the Company for the year ended March 31, 2010 and as per the recommendation of Board of Directors of the Company.

3. Dividend on equity shares @ Rs. 1.20/- per equity share for the year 2009-10 was declared by the members of the Company , out of the current profits of the Company for the year ended March 31, 2010 and as per the recommendation by the Board of Directors.

4. Mr. W. R. Schilha who retires by rotation and being eligible for re-appointment has been re- appointed as Director.

5. Mr. Rakesh Chopra who retires by rotation and being eligible for re-appointment, has been re-appointed as Director.

6. Messrs. Deloitte Haskins & Sells, Chartered Accountants, has been appointed as Statutory Auditors to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting to conduct the audit of the Accounts of the Company for the Financial Year 2010-2011, at such remuneration as may be mutually agreed between the Board of Directors of the Company and the Auditors, plus service tax and out of pocket expenses.

7. Re-appointment of Mr. Surinder P. Kanwar as Chairman & Managing Director of the Company for a further period of 5 (Five) years.