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| Exchange Received Time 11/12/2017 19:02:29 Exchange Disseminated Time 11/12/2017 19:02:32 Time Taken 00:00:03 | We refer to our letter dated November 6, 2017, inter alia informing the stock exchanges that the Board of Directors of the Company had, at their Meeting held on November 6, 2017, approved the sale, disposal and transfer of Phosphatic Fertilisers Business and Trading Business situated at Haldia, West Bengal, by way of a slump sale on a going concern basis to IRC Agrochemicals Private Limited for a lump sum consideration of Rs. 375 crores, subject to certain usual adjustments after closing.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Postal Ballot Notice dated November 24, 2017 together with the Explanatory Statement and the Postal Ballot Form which is being disseminated to the Members of the Company for seeking approval by way of a Special Resolution in accordance with Section 180(1)(a) of the Companies Act, 2013, for the aforementioned transaction.
This is for your information and record.
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