Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, this is to inform you that the Board of Directors of the Company, in its meeting held on June 30, 2020 has deliberated and subject to the approval of the shareholders at the ensuing annual general meeting, approved the transfer by way of sale, 82,14,000 (55.21%) Equity Shares held by the Company in Xlerate Driveline India Limited (XDIL), Wholly Owned Subsidiary Company out of its 100% stake in XDIL as per the details attached. You are requested to kindly take the same on records.