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Outcome of board meeting of Parekh Aluminex

Parekh Aluminex announced that a meeting of the Board of Directors of the Company will be held on 10 June 2014, inter alia,

1. To consider to hold Extra Ordinary General Meeting of the Company.

2. To discuss the company`s performance and the need of further working capital.

3. To consider and approve resignation of auditors of the Company and to consider proposal for appointment of new auditors.

4. To discuss the various summary suits, winding up petitions by the creditors and take appropriate actions.

5. To discuss the facilitation required for the TRA Account.

6. To discuss company`s efforts to recover the non-performing debtors & non-moving stocks.

7. To discuss the letters/assignments sent by the lenders advocates to various peoples to whom moneys are given.

8. To consider the proposal sent by the group of Investors to appoint the investors nominees on the board and to consider simultaneous resignation of Deepen Parekh.

9. To consider various settlement proposal received from the people whom the company has given the moneys.

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