Agro Dutch - Updates on Outcome of AGM

Agro Dutch Industries Ltd has informed BSE that the members at the 17th Annual General Meeting (AGM) of the Company held on October 12, 2009, inter alia, have also accorded to the following:

1. For mortgaging / charging all the immovable properties of the Company, wheresoever situated both present and future, and the whole or substantially the whole of the undertaking of the Company by way of pari passu first charge in favour of Allahabad Bank, for securing long term loan aggregate to Rs. 900 Lacs, State Bank of Hyderabad, for securing short term loan aggregating to Rs. 250 Lacs and ICICI Bank Ltd, for securing term loan aggregating to Rs. 2000 Lacs together with interest, costs and other charges and expenses payable by the Company to the Bank, in terms of the Loan Agreement entered into or to be entered into between the Company and bank, subject to necessary provisions & approvals.

2. For mortgaging charging all the immovable properties of the Company, wheresoever situated both present and future, and the whole or substantially the whole of the undertaking of the Company by way of pari passu second charge in favour of State Bank of Hyderabad, Axis Bank Ltd., for securing working capital limits aggregating to Rs.750 lacs and Rs.2500 Lacs together with interest, costs and other charges and expenses payable by the Company to the bank in terms of the Loan Agreement(s) entered into or to be entered into between the Company and the bank, subject to necessary provisions & approvals.