Financial Technologies

Financial Technologies (India) Ltd has informed that the members at the 19th Annual General Meeting (AGM) of the Company held on September 28, 2007, inter alia, have accorded to the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2007 and Profit and Loss Account for the year ended on that date together with the Directors Report and the Auditors Report thereon.

2. Confirmation of the four interim dividend paid for the year 2006-07 totaling 300% (Rs 6/- per share on face value of Rs 2/-) amounting Rs 26,44,30,960/- & declaration of final dividend of Rs 2/- (100%) per equity share on the paid-up Share Capital of the Company as on March 31, 2007 for the financial year 2006-07.

3. Re-appointment of Mr. Ravi K Sheth, as a Director of the Company, liable to retire by rotation.

4. Re-appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, Mumbai as Auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Revision in remuneration payable to Mr. Jignesh P Shah, Chairman & Managing Director of the Company with effect from April 01, 2007, for the residue unexpired of his current term of his appointment upto January 30, 2007, on terms and conditions.

6. Revision in remuneration payable to Mr. Dewang Neralla, Whole-time Director of the Company with effect from April 01, 2007, for the residue unexpired of his current term of his appointment upto January 30, 2009, on terms and conditions.

7. Payment of commission to Non-Executive Directors of the Company from the Financial Year 2007-08 onwards for a period of five years, on terms and conditions.

8. Increase in the remuneration payable to Mr. Manjay P Shah holding and continuing to hold an office of profit in the Company, as Director — Business Development (Non-Board Member forming part of the Core Senior Team Management Personnel) on terms and conditions.

9. Approves the Registrar of Members, the Index of Members, records relating to
returns of allotment from time to time, copies of Annual Returns prepared under Section 159 of the Act together with copies of certificates and documents required to be annexed thereto under Section 161 of the Act or any one or more of them, be kept at the office of M/s. KARVY Computershare Pvt Ltd, the Registrar and Share transfer Agent of the Company, Chennai.

10. Authority to the Board to re-issue the lapsed stock options of the Company that lapse due to the resignation or for any other reason whatsoever, to other permanent employees of the Company, including the eligible Directors of the Company with an option to exercise by the option holders to subscribe for equity shares, at such price and in such manner, in one or more tranches, and on such other terms and conditions as the Board of Directors / Compensation Committee may deem fit, subject to necessary provisions and approvals.

11. Authority to the Board for enabling the Company to re-issue the lapsed stock options of the Company that lapse due to the resignation or for any other reason whatsoever to other permanent employees of the Company's subsidiary Companies, including the eligible Directors of the subsidiary companies with an option to exercise by the option holders to subscribe for equity shares, at such price and in such manner, in one or more tranches, and on such other terms and conditions as the Compensation Committee may deem fit, subject to necessary provisions and conditions.