The Board subject to approval of members in ensuing Annual General Meeting approved the proposal for the partial sale of certain machinery detailed in Annexures, which may exceed 20% of the total value of the machinery of the Company. This sale is in line with the Company's plan to modernize its manufacturing operations. The sale may attract the provisions of Section 180 of the Companies Act, 2013 and Regulation 37A of SEBI LODR Regulation 2015, and is to the parties which are not related to the Company. The Board further authorized the management to finalize the terms and execute all necessary documents in connection with the said sale.