Outcome of third monitoring committee meeting of the company held on 10th May, 2025

The Monitoring Committee approved the issuance of 2,37,500 fully paid-up equity shares (face value Rs. 10 each) to the Successful Resolution Applicant under an NCLT-approved Resolution Plan (order dated February 11, 2025). The shares will be allotted to Mr. Kushal Chaturvedi and Mrs. Ruchika Chaturvedi, who will become key shareholders. A record date of May 23, 2025 has been fixed for cancellation of the erstwhile promoters' entire shareholding and reduction of existing public shareholders' holding to just 5% of the proposed paid-up capital. Existing public shareholders will be entitled to receive 12,500 equity shares of Rs. 10 each under the plan. The Audit Committee and Nomination and Remuneration Committee have also been reconstituted with new independent directors.