In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the meeting of the Board of Directors of the Company held on Monday, October 16, 2023 at the Registered Office of the Company at 34/1, Vikas Apartments, East Punjabi Bagh, Delhi-110026, inter-alia, considered and granted in-principle approval for evaluating consolidation proposal of the company with Vrindaa Advanced Materials Limited, a company incorporated under Companies Act, 1956 with Corporate Identity Number: U51100DL2007PLC168941 ('VAML') and appointed Price Waterhouse & Co LLP (an individual member firm of the network of member firms of PricewaterhouseCoopers International Limited (PwC IL), a Big4 Advisory Firm for the evaluation of consolidation proposal from tax and regulatory perspective.