In terms of Reg 30 and other applicable provisions of the SEBI LODR, 2015. we wish to inform you that company has received notices from NSE and BSE for imposing penalty of ?5,42,800 (Including GST@18%) each for the quarter ended 30 Sep 2023, for the Non Compliance of the Reg 17 (1) pertaining to failure to appoint required number of Independent Director including women Director. In this regard, it may be noted that GRSE is a Govt. Company under MoD. The appointment of IDs in the Company are being made by the Administrative Dept. i.e. Mint. of Defence, GOI. Since, the Matter was beyond the Control of the Company, application for waiver of fines as per the SEBI SOP Circular, were filed with the NSE, Designated Stock Exchange for the purpose, However it was directed to put up the case only after Compliance. This is for your information and record.