Gokaldas Exports Limited announced that the Board of directors of the Company have approved the incorporation of a Wholly Owned Subsidiary in Meydan Free Zone (MFZ), Dubai, UAE. The new entity will be a wholly owned subsidiary of Gokaldas Exports Limited. Hence, it will be a related party of the Company upon incorporation. Name of the target entity, details in brief such as size, turnover etc.: Name: Nava Apparels MFZ or any other name as
approved by the authorities. Initial Investment: AED 500,000 AED. Turnover: Nil.