The Board, inter-alia, has considered and approved the following decisions: (i) approved the issuance of 37,06,250 fully paid-up equity shares of face value INR 10 (at a premium of INR 19.39 per share) to Chanakya Corporate Services Private Limited and Kalpesh Morbia by way of preferential issue on private placement basis. (ii) approved the merger of the Transferor Company into and with the Company pursuant to Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 ('Act'). The proposed Scheme of Merger by Absorption ('Scheme') inter alia provides for the merger of the Transferor Company with the Company. The proposed Scheme is subject to necessary statutory and regulatory approvals under the applicable laws, including approval of the jurisdictional National Company Law Tribunal.