Net 4 India Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 23, 2011, inter alia, have approved the following matters: (1) Mr. Bharat Chawla has resigned from Directorship. The Board has accepted the resignation of Mr. Bharat Chawla, Director with immediate effect.(2) The Board has approved investments not exceeding INR Rs. 5 Crores each in two of its Wholly Owned Subsidiary companies namely M/s. Net4 Network Services Limited and M/s. Net4 HK Limited, from time to time as required for startup cost and further growth of the Companies.