16th-Dec-2011 18:11Source: BSE

Swadeshi Ind - Board Meeting on Dec 20, 2011

Swadeshi Industries & Leasing Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on December 20, 2011, to consider the following:

1. To allot 15,00,000 Equity Shares of Rs. 10/- each at par on preferential basis to M/s. Chin Info Tech Private Limited in accordance with the Special Resolution passed by the members at their Extra Ordinary General Meeting held on November 09, 2011.

2. To constitute a Committee of Independent Directors in accordance with Regulation 26 (6) of SEBI (SAST) Regulations, 2011 to provide reasoned recommendations, on the Open offer made by M/s. Chin Info Tech Private Limited to Shareholders of the Company.