Indag Rubber Limited announced that approval of Members of the Company was accorded vide resolution dated February 22, 2019 (passed through postal ballot), for leasing of MRO Facility at Bhiwadi to Elcom Systems Pvt. Limited to be constructed in two phases, on monthly rent of INR 36 psf which shall be increased by 12% after every 3 years, for a lease period of 9 years and 6 months, (lock -in period of 9 years). Due to ongoing COV ID 19 pandemic an d delay in completion of Civil Work for construction and setting up of MR O facility at Bhiwadi, Rajasthan, both the parties had mutually agreed on November 23, 202 1 that the lease period of 9 years and 6 months shall commence with effect from September 01, 2021 for a monthly rent of INR 36 psf on total area of 102640 sq. ft constructed under phase I.