Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors at the aforesaid meeting have approved In-Principle the sale of whole of its investment held in the following wholly owned subsidiaries, consequent to which our Company will cease to be a Holding Company, subject to completion of procedural formalities: i. Abirami Amman Designs Private Limited ii. Accel Apparel Private Limited iii. Bannari Amman Retails Private Limited