Gujarat Narmada Valley Fertilizers Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 31, 2010, inter alia, approved: 1. The Transfer of V-SAT/ISP Gateway Business of GNFC to ING Satcom Ltd., an unlisted Company through Scheme of Arrangement and De-merger against cash consideration of Rs. 6 Crores; and 2. Draft Scheme of Arrangement and De-merger in respect of the proposed Transfer of V-SAT/ISP Gateway Business to ING Satcom Ltd., an unlisted Company. Gujarat Narmada Valley Fertilizers Company Ltd has informed BSE about the following : Hon'ble High Court of Gujarat has sanctioned the Scheme of Arrangement and Demerger of V-SAT and ISP Gateway Business Division / Undertaking to ING Satcom Limited, an unlisted Company vide its Common Oral Order dated June 15, 2012 which has been received by the Company on June 27, 2012. The Company inform that this business is a very insignificant business activity which has no bearing on the functioning or performance of the Company. The Company has already applied for certified Copy of drawn up Order sanctioning the said Scheme of Arrangement and Demerger, The Company has separately arranging to file the same with the Office of Registrar of Companies, Gujarat, as soon as the same is received from the Hon'blè High Court of Gujarat. (AsPer BSE Announcement Website Dated on 19/07/2012)