Sudhin Choksey

Dear Sir,

We have incorporated the changes as per your suggestion, we are adding Mr. Deepak Amin in the
resolution by delegation of powers to him with other Executive Directors.

Attaching herewith our Articles of Association for your reference. For issuing Debentures, You are
requested to refer Articles 20(2), 51, 52, 78, 107.

Further, our Articles of Association provides powers to the Directors for the allotment of Shares that
they can delegate power to the person as the think fit and this article is only for Shares.

Wordings of Article 6 to the article of Association for allotment of Shares says;

The shares shall be under the control of the Directors who may allot or otherwise dispose of the same
or any of them to such person, in such proportions and on such terms and conditions and either at a
premium or at per or subject to the Directors think fit and with full power to give to any person the
shares either at premium during such times and for such consideration as the Directors think fit.

As per our Articles of Association only in the case of Common Seal authority is to be given to Joint
Directors and for that we have separate clause in the resolution that we will execute documents in terms
of our Articles of Association.

Anuj Kumar
Dear Sir,

We have incorporated the changes as suggested by you. Further, we would like to tell you that this
would not be counted as final approval for issuing CCPS, we will come to Board for the approval of
issuing CCPS we only took approval for the signing of the Agreements not for issuing CCPS, when all the
terms will be finalized this will go to Board for taking note of Agreements and approval of issuing CCPS.

Further, for the key terms of the investment such as the size of the issue, nature of the instrument, price
of issue, conversion price etc will be placed to the Board with the CCPS issuing Agenda.