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Indo Asian Finance Board Approves Right Issue

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Indo Asian Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 21, 2011, inter alia, has approved the following:

1. Approved issue of further securities of the Company by way of Rights Issue and authorized Rights Issue Committee to finalise the size and pricing of the Rights Issue and other related matters.

2. Approved Notice of Postal Ballot and appointment of Mr. V. S. Sowrirajan, Practicing Company Secretaries as the Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner with regard to the proposed right issue and change of name of the Company to Indo Asian Finance Ltd.

Source: BSE Corporate Announcements

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