As intimated earlier on 17th September, 2021 NCL Industries Ltd. has signed an Agreement to set up a Joint Venture Company with Moravia Containers A S of Czech Republic for manufacture of Modular Containers & Systems and other products. In order to conserve its resources and concentrate on the existing lines of business, NCL Industries Ltd. has terminated the Joint Venture Agreement with Moravia Containers a.s., Czech Republic for manufacture of Modular Container Systems. No significant investment has been made by the company in the Joint Venture company except for INR 74,900 towards the initial subscribers' Share Capital of the Joint Venture Company at the time of incorporation. These shares are being transferred at par to the person /entity chosen or approved by Moravia Containers AS.".