The Board of Directors of Advanced Enzymes USA (AEU), a wholly owned subsidiary of the Company has accorded its approval for formation of a new corporation in California (US) to be named as Starya Labs, Inc (Starya Labs). Cal-India Foods International USA, a Step-down wholly owned subsidiary of the Company (SEB) to spin-off and transfer its enzymes / probiotic laboraotry testing services (SEB Lab) together with certain assets and liabilities related to the said SEB Lab into Starya Labs. The said new corporation, Starya Labs will be a wholly owned subsidiary of AEU.