Silicon Valley Infotech Ltd

With reference to the above subject the Board would like to inform that since 1999 there has been dispute between the Company and REC Ltd in the matter of loan taken from REC Ltd.The Company proposed the financial institution for OTS and the proposal was discussed and reviewed by the institution several times and finally the matter was favourly considered by the Board of REC Ltd which was intimated to the Company on 12th December 2022 by post. Further for considering and approving the same the Meeting of the Board of Directors of the Company will be held on 21st December 2022 at 3.00 P.M. to approve the OTS with all terms and conditions proposed by REC and to have discussion on raising of resources for the same and to appoint one executive to execute all the related documents and papers and do acts as and when necessary.This is for your perusal necessary action and record.