The Board of Directors of the Company ('Board') at their meeting held today approved the 'Scheme of Selective Capital Reduction' of the Issued, Subscribed and Paid-up share capital between the Company, its Shareholders and Creditors under Section 66 read with Section 52 and other applicable provisions of the Companies Act, 2013 ('Act') ('The Scheme') which provides for reduction and reorganization of capital of the Company. The Company propose to reduce the paid up share capital by Rs. 4,84,58,000/- (4845800 shares of Rs.10/- each) and post reduction the paid up share capital will be Rs. 10,00,000/- (100000 shares of Rs.10/- each).