Sermo-PM India Limited ceases to be a joint venture company of Voltas

On 6th October, 2005, the Company transfered its entire 50% shareholding comprising 65,00,000 equity shares of Rs. 10 each of Sermo-PM India Limited (SPMIL), a joint venture company with Sermo Montaigu, France, to Sermo (SAS), which has its Registered Office at Saint Hilaire de Laulay, France.

SPMIL therefore ceases to be a joint venture company of Voltas effective 6th October, 2005.