Suryachakra Power Corporation Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 29, 2008, have considered and approved the following:

1. Increase of authorized share capital of the Company from Rs 90.00 crores to Rs 135.00 crores.

2. Issue of 2,10,00,000 Warrants convertible into equity shares to the Promoter / Promoter group on Preferential allotment basis pursuant to SEBI Guidelines and applicable regulations.

3. Issue of ADR / GDR and / or FCCB’s to raise funds upto US$ 100.00 millions.

4. Increase of borrowing powers of the Company upto Rs 750.00 crores.

5. Variation in the utilization of IPO proceeds of Rs 10.00 crores towards the investment in other power projects being executed / to be executed by the Company or through its subsidiary Companies and general corporate purpose.

6. Keeping of register of Members, index of members and annual returns under section 159, at the office of Registrar and Share Transfer Agent i.e. Karvy Computershare Pvt Ltd.