Polar Industries Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the following Ordinary Resolutions:

1. The Board of Directors of the Company which shall include a duly authorised committee thereof for disposal of the entire undertaking of the Ceiling Fan Division unit located at A-2, Sector 5, Noida - 201 301, together with all assets contained therein including Land, Building, Plant, Machinery & other assets (as a whole or in piecemeal), be sold on ?as-is-where-is? basis, at their absolute discretion, including receipt of consideration in any manner whatsoever as deemed fit and any action so far taken by them in this regard be and is hereby approved and ratified.

2. The Board of Directors of the Company which shall include a duly authorised committee thereof for disposal of the entire undertaking of the Corporate Office unit located at A-105, Sector 5, Noida - 201 301, together with all assets contained therein including Land, Building, Plant, Machinery & other assets (as a whole or in piecemeal), be sold on ?as-is-where-is? basis, at their absolute discretion, including receipt of consideration in any manner whatsoever as deemed fit and any action so far taken by them in this regard be and is hereby approved and ratified.

The Board of Directors of the Company has appointed Mr. Manoj Banthia, Chartered Accountant, as Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.

The Postal Ballot form duly completed should reach the scrutinizer on or before the close of working hours on April 18, 2008. The scrutinizer will submit his report to the Chairman after completion of the scrutiny and the results of the postal ballot will be announced on April 21, 2008.