Pursuant to Regulation 30 of Listing Regulations, we wish to inform that First Airways Inc., a Wholly Owned Overseas Subsidiary of the Company, incorporated under the Statutes of State of Delaware, USA, has been dissolved. It may be noted that this Company was not a material subsidiary. Moreover, there was no turnover in the last financial year, due to nil business activity. Consequent upon the said dissolution, First Airways Inc. ceased to be the subsidiary of the Company. Kindly take the above on record.