Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, We inform your good self that the Board of Directors of the Company in its Board Meeting held on today i.e. Thursday, February 16, 2023, at the Corporate Office of the Company, have transacted and approved the following business:- Demerger embodied in the draft Scheme of Arrangement between Mahalaxmi Rubtech Limited (MRT) (CIN:- L25190GJ1991PLC016327) (Hereinafter referred to as 'the Demerged Company'); Mahalaxmi Fabric Mills Private Limited (Formerly known as 'Sonnet Colours Pvt Ltd') (MFMPL) (CIN:- U17100GJ1991PTC015345) (Hereinafter referred to as 'the First Resulting Company'); and Globale Tessile Private Limited (GTPL) (CIN:- U17299GJ2017PTC098506) (Hereinafter referred to as 'the Second Resulting Company') and their respective Shareholders and Creditors ('Hereinafter referred to as the Scheme').