Mahindra & Mahindra - Notice of Postal Ballot

Mahindra & Mahindra Ltd has informed BSE that the members of the Company will consider to approve, by way of Postal Ballot, the special resolution to make any loans(s) to, and / or give any guarantee(s), and / or provide any security(ies) in connection with loan(s) made by any other person to, or to any other person by, any / or acquire, by way of subscription, purchase or otherwise the securities of, one or more body(ies) corporate fulfilling the criteria even if such loan, guarantees, securities and investments together with the aggregate of loan(s) made, guarantee(s) given, security(ies) provided and investment(s) made from time to time is in excess of the ceiling prescribed under section 372A of the Companies Act, 1956 computed on the basis of the Audited Accounts of the financial year immediately preceding the financial year in which such loans are made, guarantees given, securities provided and investments made, provided that the excess over the ceiling prescribed under section 372A of the Companies Act, 1956 computed at the beginning of the financial year will not at any time exceed Rs 2000 crores, subject to necessary provisions & approvals.

The Company has appointed Dr. S D Israni, Practising Company Secretary, Mumbai, as a Scrutinizer for conducting the Postal Ballot process in a fair and transparent manner.

The Postal Ballot forms duly completed should reach the Scrutinizer on or before the close of working on July 12, 2007. The Scrutinizer will submit his report to the Chairman after completion of the scrutiny & the result of the Postal Ballot will be announced by the Chairman or the Vice-Chairman & Managing Director or any other Director of the Company on July 20, 2007.