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Ashim Investment Company Ltd has informed BSE that pursuant to an order made on the March 07, 2008, the Hon’ble High Court of Delhi at New Delhi, has directed that a meeting of the Equity Shareholders & 7% Cumulative Redeemable Preference Shareholders of the Company will be held on May 14, 2008, for the purpose of considering, and if thought fit, approving with or without modification(s), the proposed Scheme of Amalgamation between Ashim Investment Company Ltd and its wholly-owned subsidiaries Mayfair Finance Ltd, Sidhi Vinayak Investment Ltd, Terrestrial Finance Ltd and Yashodhan Investment Ltd and Netflier Finco Ltd and its wholly-owned subsidiaries - Hansdeep Investment Ltd, Hidrive Finance Ltd, Panchanan Investment Ltd and Radial Finance Ltd into and with Bengal & Assam Company Ltd.

Ashim Investment Company Ltd has informed BSE that the members at the 32nd Annual General Meeting (AGM) of the Company held on March 27, 2008, inter alia, have accorded the following:

1. Adoption of the Audited Accounts of the Company for the financial year ended June 30, 2007 and the Reports of the Directors and Auditors thereon.

2. (a) Declaration and / or confirmation of Dividend on the 89,161 7% Cumulative Redeemable Preference Shares of Rs 10 each of the Company at the fixed rate of 7% p.a. for the financial year ended June 30, 2007.

(b) Declaration and / or confirmation of Dividend for the financial year ended June 30, 2007, on the 59,50,508 Equity Shares of Rs 10 each of the Company at the rate of 10% (i.e. Re 1.00 per share).

3. Re-appointment of Shri. Sitab Chand Jain as a Director of the Company, liable to retire by rotation.

4. Re-appointment of M/s. G P Agrawal & Co., Chartered Accountants, as Auditors of the Company to hold office from the conclusion of the 32nd Annual General Meeting of the Company until the conclusion of the next Annual General Meeting of the Company, on remuneration, terms & conditions.

5. Appointment of Shri. Deepak Kumar Rajgarhia as a Director of the Company, liable to retire by rotation.

Ashim Investment Company Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from March 17, 2008 to March 27, 2008 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the Company to be held on March 27, 2008.

Ashim Investment Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 21, 2008, to consider the Audited Annual Accounts of the Company for the financial year ended June 30, 2007 and also consider recommending dividends for the said year on the Equity Shares and 7% Cumulative Redeemable Preference Shares of the Company.