The members have also passed resolution authorizing board of directors to issue to the members of Inertia Iron and Steel Industries , Corporate Ispat Alloys and Abhijeet Infrastructure 12,37,76,856 equity shares of Rs 10 each at par as a consideration for transfer of Assets and Liabilities pursuant to the Schemes of Arrangement, which are pending before Hon'ble High Court for sanction.

This was decided at the extra ordinary general meeting held on 08 August 2009.