Sec. 78(2) (b) - Approval of pre-incorporation and pre-operative expenses - Board Resolution;

Sec. 78(2) (b) - Approval of pre-incorporation and pre-operative expenses - Board Resolution;

"RESOLVED that the liability for an amount of Rs. 1,50,000/- incurred towards pre-incorporation expenses and Rs. 2,35,000/- estimated to be incurred up to 31st March, 1997 by the promoters as set out in the statements tabled before the meeting and reproduced below be and is hereby approved and accepted by the company:

1. Statement of pre-incorporation expenses.

2. Statement of pre-operative expenditure likely to be incurred upto 31st March,1997".