ENMAS ENGINEERING PRIVATE LIMITED

MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OF THE COMPANY

HELD ON FRIDAY 9TH MARCH, 2007 AT 9.30 AM AT THE REGISTERED OFFICE OF
THE COMPANY

Directors present : Mr. Loknath Ratho

Mr. B Pattabhiraman

At the request of Mr. B.Pattabhiraman , Mr. Loknath Ratho occupied the Chair.

1. Leave of absence

Leave of absence was granted to Mr.S.K.Sawhney at his request.

2. Confirmation of Minutes

The Minutes of the previous Board Meeting held on 16.02.2007 were read and
confirmed and signed by the Chairman of the Meeting.

3. Disclosure of Notices Under Section 299 of the Companies Act, 1956

received from Directors

The General Notice regarding disclosure of interest of Directors pursuant to

Section 299 of the Companies Act, 1956 in Form 24-AA for the next financial year
i.e. 2007-2008 was placed before the meeting for recording.

“Resolved that Disclosure of interest of Directors pursuant to Section 299 of the

Companies Act, 1956 in Form 24-AA for the next financial year i.e.2007-2008
placed at this meeting be and is hereby taken on record.”

4. Issue of Corporate Guarantee to ICICI Bank Limited

The Chairman informed the meeting that M/s Enmas Engenius Projects Limited
a subsidiary of the company has been sanctioned credit facilities from ICICI
Bank Ltd and requested the company to furnish corporate guarantee of the
Company in favour of ICICI Bank Ltd, Chennai . The Board discussed and
passed the following resolution.
 ENMAS ENGINEERING PRIVATE LIMITED

"Resolved that the company do furnish corporate guarantee in favour of ICICI

Bank Ltd, Chennai in connection with the advances given by ICICI Bank Ltd to
Enmas Engenius Projects Limited "

"Resolved further that Mr.B.Pattabhiraman and Mr.Loknath Ratho both

Directors of the company be and are hereby authorised severally to sign
documents, agreements and other papers in connection with above corporate
guarantee."

"Resolved further that common seal of the company be affixed in the presence
of any two Directors of the Company who shall countersign the same in
token thereof."

“Resolved further that a copy of the resolution be forwarded to ICICI Bank

Ltd, Chennai."

The meeting ended with a vote of thanks to the Chair.

Date :04.05.2007 CHAIRMAN OF THE MEETING