Munoth Capital Markets Ltd has announced that the Board of Directors of the Company at its meeting held on August 13, 2007, inter alia, has recommended a dividend at the rate of 10% per share on the equity capital of the Company for the year ended on March 31, 2007 and the said dividend be paid subject to the approval of shareholders. Mr. Siddharth Shantilal Jain authorized to take necessary actions for implementation of the resolution.