Redemption of 56 lakh Non Convertible Redeemable Preference Shares of Rs 100 each at par on 16 March 2018.

The Board has approved further investment in equity shares of Artimas Fashions (wholly owned subsidiary of the company). Artimas Fashions will cease to be wholly owned subsidiary of the company and remain a subsidiary of the company following allotment of further shares to selected group of person on private placement basis including Lux Industries.