Associated Alcohols ballot results

Associated Alcohols & Breweries Ltd has informed that the members of the Company, by way of Postal Ballot, have passed the following ordinary / special resolutions:

1. Authority for sale / transfer of shareholding (10,50,000 Equity Shares of Rs 10/- each) of the subsidiary Company M/s. Jaipur Distilleries Ltd and the Board of Directors of the Company be authorized for execution of the deal on such terms and conditions as they deem fit in the best interest of the Company and do all such acts, deeds, matters and things as may be deemed necessary and / or expedient there to in the interest of the Company.

2. Authority to invest further in securities of M/s. Mount Everest Breweries Ltd., by subscription / purchase or otherwise and / or place inter-corporate deposits with M/s. Mount Everest Breweries Ltd., and / or make loans or any other form of debt to and / or investment in M/s. Mount Everest Breweries Ltd., and / or give guarantees in connection with loan(s) given by any other person to M/s. Mount Everest Breweries Ltd, in addition to the limits already sanctioned for investments / inter-corporate deposits / loans, upto a sum of Rs 30 Crore notwithstanding that the aggregate of the loans and investments so far made in or to be made in and the guarantees so far given or to be given to all bodies corporate, exceeds the limits laid down by the Act.