Megasoft Limited had informed regarding the Postal Ballot Notice dated September 09, 2010 sent to the Members of the Company for seeking their approval to the transaction listed therein, by postal ballot pursuant to section 192A of the Companies Act, 1956 read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2001. The Company has now informed that "Mr. M Damodaran, Practising Company Secretary submitted his report dated October 15, 2010 on postal ballot forms received from the members to the Chairman of the Company. Based on the report submitted by the Scrutiniser, the Chairman declared the result on October 15, 2010, of the resolution passed through postal ballot. According to the Postal ballot results, following resolution has been approved by majority of the shareholders of the Company. Description: Ordinary resolution under Section 293(1)(a) of the Companies Act, 1956, for disposal of the Company's properties - land and buildings (furnishing and fittings) at Kundanbagh, Begumpet, Hyderabad and land at Vishakhapatnam. Type of Resolution; Ordinary Resolution."