Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, we wish to inform you that, the Board of Directors ('Board') of Mahindra CIE Automotive Ltd ('the Company') at its meeting held today i.e. 14th December, 2022 reviewed the future plans of the Company's German Forging Operations comprising of CIE Forging Germany GmbH ('CFG') and its subsidiaries and a proposal approved by the board of directors of CIE Galfor S.A. ('Galfor'), the immediate holding company of CFG. Please refer attached letter for details.