Heritage Foods India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 07, 2008, Members authorized the Management Committee of the Board of Directors of the Company to identify the party(ies), finalize, settle & transfer 20,40,000 equity shares of Heritage Infra Developers Ltd (Subsidiary Company of Heritage Foods (India) Ltd) of face value of Rs 10/- each at a best price and execute such documents / deeds / papers / agreement as may be required to finalize and settle the Transaction.

The Management Committee at their in meeting held on March 28, 2008, have taken of following decision:

- To transfer 20,40,000 Equity shares of Heritage Infra Developers Ltd of face value of Rs 10/- each, at Rs 174.99/- per share aggregating to Rs 35,69,79,600/ (Rupees Thirty five crores sixty nine lakhs seventy nine thousand and six hundred only) to Sri. Chakra Merchandising Pvt Ltd, having its Registered Office at No. 23, Nenmeli Village, Thirukazhukundram Road, Chengalpet District, Tamil Nadu.