This is further to our intimation on the outcome of Board Meeting held on 15th May, 2023, the Board of Directors of the Company at their meeting have also considered, approved and recommended the Scheme of Amalgamation for merger of M/s. Bangur Exim Private Limited (referred to as Transferor Company no. 1) and M/s. East Coast Powers Limited (referred to as Transferor Company no. 2) with the Company (referred to as Transferee Company), pursuant to Sections 230 to 232 of the Companies Act, 2013. Transferor Company no. 1 and Transferor Company no. 2 are wholly owned subsidiaries of the Transferee Company. The Scheme is subject to necessary statutory and regulatory approvals including the approvals of National Company Law Tribunal, the shareholders and creditors of each of the companies (as may be applicable).