Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended from time to time we wish to inform you that Subject to receipt of requisite approvals the Board of Directors of Company in its meeting held on September 15 2020 for focused growth of its Solar business in Roorkee at Uttrakhand has approved sale of Solar Business undertaking being part of solar division of Company to its wholly own subsidiary viz. Madhav Renewables Private Limited (MRPL) by way of slump sale through business transfer agreement or Slump Sale Agreement to be executed between the Company and MRPL.
The details required as per SEBI Circular vide CIR/CFD/CMD/4/2015 dated September 09 2015 is annexed.
This is for your information and record.
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