This is in continuation to our letter dated December 24, 2020 intimating that Board of Directors at its meeting held on December 24, 2020, has inter alia approved the proposal for buyback of up to 9,875,000 fully paid-up Equity Shares of the Company of face value INR 2/- each at INR 240/- per Equity Share for an aggregate amount not exceeding Rs. 2,370,000,000 (Rupees Two Thousand Three hundred and Seventy million only), subject to shareholders approval and other regulatory approvals. Please find enclosed herewith a copy of the Postal Ballot Notice dated January 8, 2021 together with explanatory statement, seeking approval of the Members by passing the special resolution in respect of buyback of equity shares of the Company, as set out in the Notice