We enclose herewith the disclosure in terms of SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019, for the quarter ended 31ST March,2020. Pursuant to the order of Hon'ble National Company Law, Mumbai Bench, dated June 26, 2018 (the 'Order'), the Corporate Insolvency Resolution Process has been initiated against Uttam Value Steels Limited (the 'Company') under the Insolvency and Bankruptcy Code, 2016 read with the rules and regulations made thereunder, Mr. Rajiv Chakraborty was appointed as the Interim Resolution Professional of the Company and thereafter appointed as the Resolution Professional ('RP') of the Company at the first meeting of the Committee of Creditors. By virtue of the Order, the management of the affairs of the Company vests in the RP and powers of the Board of the Company stands suspended, powers which are now exercised by the RP. The debts of UVSL shall be resolved in accordance with the provisions of the Insolvency and Bankruptcy Code.