Adarsh Derivatives Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 11, 2008, inter alia, have accorded the following:

1. Increase the Authorised Share Capital of the Company from Rs 17,00,00,000 (Rupees Seventeen Crore) divided into 17000000 (One Crore Seventy Lacs) Equity Shares of Rs 10/- (Rupees Ten) each to Rs 31,00,00,000 (Rupees Thirty One Crore) divided into 31000000 (Three Crore Ten Lacs) Equity shares of Rs 10/- (Rupees Ten) each & consequential amendments in the Memorandum & Articles of Association of the Company.

2. Authority to the Board to create, issue offer and allot equity shares / Convertible instruments, whether optionally or otherwise, with or without detachable warrants (”Securities”) up to an aggregate amount of Rs 85 crores (Rupees Eighty five crores), for cash, at such premium as may be determined by the Board through public issue and /or rights issue and / or Qualified Institutional Placement or a combination thereof at such time or times and at such price whether premium or discount to market price and on such terms and conditions including rate of interest etc as may be decided by the Board of Directors at the time of the issue or allotment consider the prevailing market conditions and any other relevant factors wherever necessary in consultation with the Merchant Bankers, subject to necessary provisions & approvals.

3. Change the name of the Company from “Adarsh Derivative Ltd” to “Vikas Granaries Ltd”.