Board has deliberated on the decision of the Government of India regarding the merger of M/s Praga Tools Ltd, Secunderabad, a Subsidiary of the Company, with the Company. Further the Company has informed that considering the various implications and other related issues involved, the Board of Directors decided to immediately constitute a Task Force to work out all administrative, technical, financial and other issues of the merger of Praga Tools Ltd with the Company and suggest the best fit scheme for the implementation of the Government decision, for consideration by the Board. Further, the Board of Directors approved engaging the services of a reputed Consultancy firm to advise the Company with regard to legal, taxation and other procedural issues regarding merger and also to interact with the Task Force constituted in this regard.