VBC Finance & Leasing Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 20, 2008, inter alia, has transacted the following:

1. Subject to the approval of members, approved the Main objects clause of the Company by substituting the existing objects with the new objects in the business of infrastructure projects undertaking.

2. Subject to the approval of members, approved the change of name from “VBC Finance & Leasing Ltd” to “Basil Infrastructure Projects Ltd”.

3. Approved the notice and calendar of events for the Postal Ballot.

The Board of Directors has appointed Mr. V Ahalada Rao, Practising Company Secretary, as the Scrutinizer to conduct the voting through Postal Ballot, in a fair and transparent manner.