The Board, after considering the present requirements of the Company, considered afresh the proposal for increase in the Authorised Share Capital of the Company from ?25,00,00,000 (Rupees Twenty-Five Crore only) divided into 2,50,00,000 (Two Crore Fifty Lakhs) Equity Shares of ?10/- each to ?55,00,00,000 (Rupees Fifty-Five Crore only) divided into 5,50,00,000 (Five Crore Fifty Lakhs) Equity Shares of ?10/- each, by creation of an additional 3,00,00,000 (Three Crore) Equity Shares of ?10/- each, subject to the approval of the members of the Company and such other approvals as may be required.