Richa Knits Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 16, 2008, inter alia, has intended the following:

1. To Modity and make additions to the object clause of the Company.

2. To increase the borrowing powers of the Company pursuant to Section 293(1) of the Companies Act, 1956.

3. To make loans and investments pursuant to Section 372A of the Companies Act, 1956.

4. To change the name of the Company to Richa Industries Ltd.

5. To increase the authorized Capital of the Company from Rs 20 Crore to Rs 30 Crore.

6. To further issue of Capital by way of FPO / FCCBs / GDRs / Preferential Allotments.