The BoD has granted its in-principle approval for the proposed amalgamation of Siemens Rail Automation Private Limited ('SRAPL'), a wholly owned subsidiary of the Company with the Company ('Proposed Transaction') and authorized the Company's Management inter alia to engage consultants/ advisors and finalise the scheme of amalgamation to place it before the BoD for its consideration and approval and do all such things as may be required in this regard. The Proposed Transaction will also be subject to the necessary statutory and regulatory approvals, compliance with the provisions of the Companies Act, 2013, Listing Regulations and other applicable laws.