With reference to captioned subject, we wish to inform that the board of directors of the Company in their meeting held today i.e. September 14, 2020, inter alia, considered and approved the following: 1. Considered and took on record the letter dated September 9, 2020 received from Gautam R. Bhandari and Jayantilal R. Bhandari, on behalf of the promoter and promoter group of the Company ('Promoter Group'), expressing their intention to voluntarily delist the equity shares having face value of Rs. 10 /- each ('Equity Shares') of the Company from BSE Limited ('BSE') in accordance with the provisions of Chapter VII of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, as amended ('Delisting Regulations') ('Delisting Proposal'). Point No. 2, 3 shown in the attached letter. The meeting of board of directors of the Company commenced at 01.00 P.M. (IST) and concluded at 3.00 P.M. (IST).