Navkar Builders - Outcome of Board Meeting

Navkar Builders Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 09, 2009, inter alia, has decided the following:

1. Reappointment of the M/s. J. B. Shah & Co., Chartered Accountants, Ahmedabad as
Auditor of the Company.

2. Change in terms of appointment of Shri. Dakshesh Shah as the Managing Director of the
Company pursuant to section 269, 310, 311, 316 read with Schedule XIII and any other
applicable provisions of the Companies Act, 1956.

3. Change in terms of appointment of Shri. Samir Patel as the Joint Managing Director of the Company pursuant to section 269, 310, 311, 316 read with Schedule XIII and any other
applicable provisions of the Companies Act, 1956.

4. Change in terms of appointment of Shri. Ullas Shah as the Managing Director of the
Company pursuant to section 269, 310, 311, 316 read with Schedule XIII and any other
applicable provisions of the Companies Act, 1956.

5. Increase in Authorised Share Capital from Rs. 12,00,00,000/- to Rs. 20,00,00,000/-.

6. Authority to convene Annual General Meeting.