Allotment of 2,51,39,620 (Two Crores Fifty One Lakh Thirty Nine Thousand Six Hundred Twenty) Equity Shares of the face value of Rs. 1/- (Rs. One only) each fully paid up at price Rs. 2.55/- (Rs. Two and Fifty Five Paisa Only) to Mr. Ashish P. Patel, Promoter and Managing Director of the Company on a preferential basis against conversion of unsecured loan