The Board of Directors of Fine Organic Industries Limited at its meeting held on November 12, 2021 has considered and approved the termination of the Joint Venture (N) Agreement with Adcotec GmbH dated January 17, 2018, subject to completion of applicable regulatory formalities in this regard. Pursuant the aforesaid N Agreement the Company had formed a N company in Germany viz. FineADD Ingredients GmbH by subscribing to 50% ownership in the said company.