Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we wish to inform you that the Board of Directors of the Company at its meeting held on November 4, 2022 and adjourned to November 5, 2022, inter alia, has considered and approved today the Scheme of Arrangement and Merger of the Company ('Transferor Company') with Kirloskar Ferrous Industries Limited ('Transferee Company') and their respective shareholders ('Scheme'). The Scheme is subject to receipt of necessary approvals from the Hon'ble National Company Law Tribunal, Stock Exchanges, the Securities and Exchange Board of India, shareholders, creditors and such other authorities, as may be required. In terms of the Listing Regulations read with SEBI Circular No CIR/CFD/CMD/4/2015 dated September 9, 2015, we are enclosing herewith the details of the Scheme as Annexure I.