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The above results have been taken on record by the Board of Directors at their meeting held on May 28,2001. Dividend at Rs. 4.50 per share on equity shares for the financial year 2000-01 has been recommended by the Board for adoption at the AGM. Dividend for the full year will be paid on the bonus shares. 247 Mn. fully paid-up Redeemable preference shares of Rs.10/- each aggregating Rs. 2470 Mn., allotted to the Govt. of India (GoI) on June 5, 2000, by way of conversion of equity shares of a like amount held by GoI, were redeemed on March 19,2001. Prescribed dividend @13% was paid to GoI pro-rata to the period on March 19, 2001. 18,074,300 partly paid up equity shares of face value of Rs. 10/- each were forfeited on August 25, 2000. Consequently, (i) the aggregate face value of Rs. 180,743,000 has been reduced from the Subscribed and Paid up Equity Capital, (ii) Allotment money in Arrears of Rs. 135,557,250 has been written down fully and (iii) Capital Reserve Account has been credited by Rs. 45,185,750 being the amount actually paid up on the forfeited shares. The shareholders of IDBI, at the Extraordinary General Meeting held on January 23,2001,approved the issue of bonus shares in the ratio of 3:5. Accordingly, 244 811 400 equity shares of Rs.10 each were allotted on March 29,2001 by capitalisation of the entire balance of Capital Reserve of Rs.45185750 and Share Premium to the extent of Rs.2402928250. EPS for the year has been calculated on the basis of weighted average number of shares and adjusted for bonus issue. Previous year’s EPS has been revised accordingly. Profit for the year was arrived at after provisions/write-off of an amount of Rs. 9931 Mn. towards bad and doubtful debt/investments (Rs.7740.6 Mn. in the previous year) . Assets involving an amount of Rs. 62854.6 Mn. including sub-standard assets involving an amount of Rs. 7479.5 Mn. have been restructured during the year. Pursuant to the amendment to SIDBI Act, IDBI was required to dispose of not less than 51% of its holding in SIDBI to eligible institutions. Accordingly, it was agreed to transfer 230 Mn. Shares, constituting 51% @ Rs. 30 per share of face value of Rs.10 each. Capital gains of Rs.3600 Mn. has been booked in respect of 180 Mn. shares covered in transactions upto 31.3.2001 in this regard. IDBI Trusteeship Services Ltd. has been incorporated on March 8,2001 to take over the entire debenture trustee business of IDBI.
	By order of the Board
Place : Mumbai	sd/-
Date : May 28, 2001	(S. K. Chakrabarti)
	Chairman & Managing Director (Actg.)