Siddhartha Tubes - Outcome of Board Meeting

Siddhartha Tubes Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 07, 2009, inter alia, has transacted the following:

1. Approved Notice of 24th Annual General Meeting of the Company scheduled to be held on September 29, 2009.

2. Approved and accepted the terms and conditions contained in sanction letter dated July 27, 2009, received from Standard Chartered Bank (SCB) in reply of the Company's proposal for one time settlement of dues.

3. Approved and accepted the terms and conditions contained in sanction letter dated July 23, 2009, received from Life Insurance Corporation of India (LIC) in reply of the Company's proposals for one time settlement of dues.

4. Taken on record the No Dues Certificate received from The Cosmos Cooperative Bank Ltd.