Clarus Finance - Outcome of AGM

Clarus Finance & Securities Ltd has informed BSE that the members at the 16th Annual General Meeting (AGM) of the Company held on October 27, 2009, inter alia, have approved the following resolutions:

1. Adopted the Balance Sheet and Profit and Loss Accounts for the year ended March 31,
2009 together with the Directors Report, Report on Corporate Governance and the Auditors Report thereon on that date.

2. Mr. Manekchand Jain was re-appointed as the director of the Company.

3. M/s. Tushar Parekh and associates were re-appointed as Statutory Auditors of the Company for the accounting year 2009-2010.

4. Appointment of Mr. Harsh Jain as an Independent Director u/s 257 of the Companies Act,
1956.

5. Appointment of Mr. Akhilesh Jain as a director u/s 257 of the companies Act, 1956.

6. Approval for increase in the authorized share capital of the Company from Rs. 350.00 Lakhs to Rs. 1800.00 Lakhs.

7. Alteration of the Memorandum and Articles of Association of the Company.

8. Authority to offer and issue upto Rs. 14,800,000 Equity Shares of Rs. 10 each on preferential basis subject to SEBI Regulations, 2009.

9. Authority to the board under section 293(1)(d) for exercising borrowing powers upto
Rs. 100 Crore.