Allotment of 58,20,000 Equity Shares on Preferential Basis by way of Swap of Shares wherein the Company is purchasing 60,00,000 shares of M/s Omni Networks INC in lieu of issuance of 58,20,000 Equity shares of the Company. By virtue of above Share Swap-M/s Omni Networks INC has become Wholly Owned Subsidiary of the Company.