This is to inform that Board in its meeting held on 25th September, 2019 has accorded its approval to sale / transfer of the business of the company, comprising the Roll Manufacturing Plant (both cast roll and forge roll division) situated at P.O. Pailan, Diamond Harbour Road, 24 Parganas (South), Kolkata - 700 104 (West Bengal) along with employees, all related assets including land and building, plant and machinery, accessories and equipments along with all relevant contracts, arrangements, liabilities including but not limited to all licenses, approvals, rights, manufacturing technology, brand, logos, permits and interest thereof, as a going concern and on a slump sale basis to a prospective buyer at a consideration as may be mutually agreed between the Board and the prospective buyer which, however, should not be less than Rs. 150 Crores. This is for your information and record.