We wish to inform that the Board of Directors of the Company in its meeting held today i.e. 10 November, 2020, have also approved the following: 1)Sale of investment of Tokai Rika Minda India Private Limited ('TRMN') Tokai Rika Minda India Private Limited (hereinafter called as 'TRMN') is a Joint Venture Company of the Company and Tokai Rika Co. Ltd. Japan, in which 87.14% stake is held by Tokai Rika Co. Ltd., Japan and 12.86% stake is held by Minda Finance Limited. As a corporate restructuring activities, the Board approved the sale of 12.86% stake of TRMN, comprising of 2,25,00,000 equity shares of face value of Rs. 10/- each, to Minda Industries Limited at Rs. 10.04/- per share, based on the Valuation Report of Independent Valuer, for a total consideration of Rs. 22.59 Crores (Rupees Twenty-Two Crores Fifty-Nine Lacs Only). It is for your information and records please.