The Board
vide a resolution passed in their meeting
dated June 22, 2007, approved an issue of
stock options up to a maximum of 5% of the
issued equity capital of the Company
aggregating to 19,04,162 Equity Shares in a
manner provided in the SEBI (Employee Stock
Option Scheme and Employee Stock Purchase
Scheme) Guidelines, 1999 subject to the
approval of the shareholders under Section
8l(1A) of the Companies Act, 1956. The
shareholders of the Company at the annual
general meeting held on July 30, 2007
approved the aforesaid issue of 19,04,162
Equity Shares of the Company under one or
more Employee Stock Option Scheme (s). The
compensation and Nomination committee grants
the options to senior level executives of
the Company and some of its Subsidiaries in
accordance with the Stock Option
Scheme -2007 of Cholamandalam DBS Finance
Ltd.
