In continuation to our letter dated 26 September 2022 informing signing of a Business Transfer Agreement ('BTA') with MLL Mobility Private Limited (formerly known as Meru Mobility Tech Private Limited) ('MMPL'), wholly-owned subsidiary of the Company for sale/transfer of the Enterprise Mobility ('EM') business of the Company as a going concern on slump exchange basis effective 1 October 2022 and in compliance with Regulation 30 and other applicable provisions of the SEBI Listing Regulations, we would like to inform that in terms of the BTA the sale/transfer of the Company's EM business to MMPL is complete and consequently MMPL has today viz. 30 December 2022 allotted 2,87,204 equity shares of Rs. 10 each fully paid to the Company towards consideration for the said sale/transfer. With this, the Company holds 460,899 equity shares of Rs. 10 each fully paid (100%) of MMPL. MMPL continues to remain wholly owned subsidiary of the Company. Detailed disclosure in this regard is attached