This is further to our aforementioned letter intimating decision of the Board of Directors for divestment of investments held in the M/s. Rane Light Metal Castings Inc., USA (LMCA), a wholly owned step-down material subsidiary of the Company. In this regard, we enclose herewith copy of the notice of Postal Ballot dated May 17, 2023 being sent to members today (i.e., May 18, 2023) seeking their prior approval for the sale/ divestment/ pledge/ dilution / disposal of Rane Light Metal Castings Inc., USA (LMCA) and / or cessation of control of the Company in LMCA. Pursuant to relaxations issued by Ministry of Corporate Affairs (MCA), the Postal Ballot notice is being sent to members through electronic means only. The Company has engaged the services of Central Depository Services (India) Limited (CDSL) for providing the remote e-voting facility to enable members to cast their votes electronically. Details under regulation 30 of SEBI LODR are enclosed.