Richa Knits Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 16, 2008, inter alia, to transact the following:

A) To discuss and recommended approval of the following resolution by Postal Ballot under Sec 192A of the Companies Act, 1956 by the shareholders and to approve Postal Ballot notice thereto:

1. To Modify and make addition to the object clause of the Company.

2. To increase the borrowing powers of the Company pursuant to Section 293(1)(d) of the companies Act, 1956.

3. To make loan and investments pursuant to Section 372A of the Companies Act, 1956.

4. To change the name of the company to “Richa Industries Ltd.”

5. To increase the authorize Capital of the Company from Rs 20 Crore to Rs 30 Crore.

6. To further issue of Capital by way of FPO / FCCBs / GDRs / ADRs / Preferential Allotments.

B) To discuss, consider and if deem fit, to approve and pass the following with without modification(s):

1. Change of Register office from Plot No. 5 Sector 7 IMT Manesar, Gurgaon Haryana 122050 to VPO Kanwra, Old Faridabad to Kheri-Jasana Road, Faridabad, Haryana - 121101.

2. Appoint of Independent Director Sh. J P Malhotra.

3. Accept the Resignation of Independent Director, Sh S C Gupta.

4. Appointment of SH Ajay Garg, Practicing Company Secretary to act as Secrutiniser.

5. To fix the responsibility of the postal ballot process to Sh Gagan Singhal, Company Secretary and Compliance Officer and Sh Manish Gupta, Director of the Company.