Kirti Finvest - Outcome of Board Meeting

Kirti Finvest Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2009, inter alia, has transacted the following:

1. The Board decided to seek consent of the Members of the Company through Postal ballot by way of Special resolution for the following:

(a) Change of name of the Company from Kirti Finvest Ltd to Sagar Productions Ltd as required under Section 21 of the Companies Act, 1956 read with Section 23 and 192A of the Companies Act, 1956.

(b) Alteration in the Main Object of the Company by shifting the present Sub-Clauses 1, 2 and 3 in the Clause III-A to Other Objects and to insert new sub-clauses 1 in place thereof for pursuing the new business activities i.e. film production and allied activities.

(c) Alteration in the Objects incidental / ancillary to the main Objects by inserting new Objects 36, 37 and 38 immediately after Sub-Clause in Clause III - B of the Objects incidental or ancillary to the Main Object.

(d) Alteration in the Other Object Clause Company by inserting the existing Sub-Clauses 1,2 and 3 of Clause III A of Main Objects of the Memorandum of Association of the Company as Sub-Clauses 17, 18 and 19 immediately after the existing Sub-Clause 16 in Clause III C of the Memorandum of Association of the Company.

2. Appointed Dr. S K Jain as a scrutinizer for conducting the process of postal ballot in fair and transparent manner.

3. The calendar of the events for postal ballot has approved.