The Board of Directors of India E-Commerce Ltd at its meeting held on July 08, 2016, considered and approved the allotment of 451575 Equity Shares to the Shareholders whose names appear in the Company Shareholder List as on July 08,2016 i.e. the record date in place of 3010500 Equity Shares pursuant to reduction of share capital of the Company vide Order passed by the High Court of Judicature at Bombay on February 28,2016.