TABLE A - REGULATION 9

EXERCISE OF LIEN ON SHARES

1. Subject - Exercise of lien on shares.

2. Passing Authority - Board of Directors.

3. Nature of the Resolution - Reksolution with simple majority.

4. Specimen Reksolution(s)

"RESOLVED THAT: the company do exercise a lien on 100 ordinary shares of Rs.10/- each (Rs.5/- paid up) distinctive numbers 201 to 300 held by Mr.A and comprised in Certificate No.3 on account of non-payment of calls and that the company retain all dividend payable on the said shares and offset such dividends against the call money due."

5. Guidelines:

1) The Company's Articles must contain the power of lien. Otherwise the company has prima facie no lien on shares.

2) Stock Exchange regulations do not usually permit lien on fully paid shares.

3. Shares transmitted by operation of law continue to be subject to the lien.

4) The lien prevails over any pledge of which the company has no notice.

5) The lien may be waived either expressly or by conduct of the company.

6. Filing: Not applicable.