PDS: Outcome of Board Meeting

Pursuant to regulation 30 and 33 of the SEBI (Listing obligations and disclosure
requirements) regulation 2015, this is to inform you that the Board of Directors of
the Company in their meeting held today i.e. 13th December, 2017, has:

-Approved the Unaudited Financial Results (Standalone and Consolidated basis) for
the Quarter and Half year ended on 30th September, 2017. A copy of the Unaudited
Financial Results (Standalone and Consolidated) alongwith with Auditors Limited
Review Report is enclosed herewith.

-entered into Memorandum of Understanding (MoU) to set-up an apparel
manufacturing & distribution operations in India through a joint venture with 36 %
holding by the Company and 64% holding by other party.