The Board subject to approval of Members of the Company, approved conversion into equity an amount of the loan aggregating up to Rs.5,00,00,000/- (Rupees Five Crores Only), arising in the Company on account of unsecured loan agreement entered between DSJ Keep Learning Limited (Borrower) and New Bonanza Impex Private Limited (Lender). The conversion of loan into equity shall be in accordance with the applicable laws, regulations, consents, approvals as required. The issuance/allotment of equity shares shall be in terms of the loan agreement entered between the Company and New Bonanza Impex Private Limited. The information in connection with the preferential issue pursuant to Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015, is enclosed as 'Annexure-III' to this letter.