Declaration of the results of Postal Ballot of Moser Baer India Limited conducted pursuant to section 192a of the companies act, 1956 on March 12, 2010 at the registered office of the company at 43- B, Okhla Industrial Estate -Iii, New Delhi – 110 020.

Pursuant to the Section 192A of the Companies Act, 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules 2001, approval of the shareholders was sought by means of postal ballot for Special Resolution under Section 81(1A) of the Companies Act, 1956 for, to revise the conversion price of the Company’s existing Foreign Currency Convertible Bonds and also to offer, issue and allot in one or more tranches, whether rupee denominated or denominated in foreign currency, in one or more foreign markets, or by way of a qualified institutional placement under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR Regulations) for a value of up to USD 165 Million, representing such number of GDRs, ADRs, FCCBs (including for exchange with existing FCCBs) and /or Equity Shares through the Depository Receipts Mechanism and/or Equity Shares and/or warrant convertible into Equity Shares simultaneously with non-convertible debenture and/or any Other Financial Instruments (OFIs) convertible into or linked to Equity Shares, as set out in the Postal Ballot notice dated 29th January,2010.

Mr. D.P. Gupta, a Practicing Company Secretary was appointed as the Scrutinizer for conducting the postal ballot process in a fair and transparent manner.

On the basis of report submitted by the scrutinizer, following results of the postal ballot are declared:-

The Resolution has therefore been approved by the shareholders with the requisite majority.