Siyaram Silk Mills

Siyaram Silk Mills Ltd has informed that the members of the Company will consider to approve the following Ordinary resolutions by way of Postal Ballot:

1. To sell, lease, transfer or otherwise to dispose off the Company's undertaking engaged in the manufacturing of texturised yarn situated at Plot No. A-31, MIDC, Patalganga, Taluka - Khalapur, District Raigad, Maharashtra, including the leasehold land, building, plant and machineries, accessories, equipments, tools, structures, furniture’s and fittings and office equipments and other sundry items, in favour of any foreign / Indian party(ies)/bank(s) or such other party(ies), on such consideration and on such terms and conditions as the Board may consider fair and reasonable and with effect from such date and in such manner as may be decided by the Board as well as means, method and modes in respect thereof and to finalize and execute all required documents, including agreements, memorandum, deed of assignment / conveyance and other documents with such modifications as may be required from time to time end to do all such acts, deeds, matters and things as may be deemed necessary and / or expedient in its discretion for completion of the transaction as aforesaid the best interest of the Company.

2. To sell, lease, transferor otherwise to dispose off the Company's undertaking engaged in the manufacturing of grey fabric situated at Plot No. D-2/l, MIDC, Taluka - Murbad, District Thane, Maharashtra, including the leasehold land, building, plant and machineries, accessories, equipments, tools, structures, furniture’s and fittings and office equipments and other sundry items, in favour of any foreign / Indian party(ies) / bank(s) or such other party(ies), on such consideration and on such terms and conditions as the Board may consider fair and reasonable and with effect from such date and in such manner as may be decided by the Board as well as means, method and modes in respect thereof and to finalise and execute all required documents, including agreements, memorandum, deed of assignment/ conveyance and other documents with such modifications as may be required from time to time and to do all such acts, deeds, matters and things as may be deemed necessary and / or expedient in its discretion for completion of the transaction as aforesaid in the beat interest of the Company.

The Company has appointed Shri. S C Mantri, Practicing Chartered Accountant, as Scrutinizer for conducting the postal ballot process in fair and transparent manner.

The Postal Ballot form duly completed Should reach the Scrutinizer on or before the close of working hours on October 25, 2007. The Scrutinizer will submit his report to the Chairman of the Company after completion of the scrutiny and the result of the Postal Ballot shall be announced on October 29, 2007.