EXTRACT OF MINUTES OF THE MEETING OF BOARD OF DIRECTORS HELD

ON 10TH NOVEMBER 2007, AT 10.30 AM AT ITS REGISTED OFFICE

Directors Present:
1. Mr. R. Chenraj Jain
2. Mr. N V H Krishnan
3. Udayachandra
4. Jugraj Borar

RAISING TERM LOAN FROM THE BANK

Resolved that the company is authorised to raise the Term Loan of Rs50 lakh (fifty lakh)
from Syndicate Bank, Shoole Circle Branch, Bangalore for the restaurant purposes.

Resolved Further that Mr. Jugraj Borar and Mr. Chenraj Jain are hereby authorised to
sign the necessary documents to give it to the bank for raising the loan.

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