In compliance with Regulation 30 read with sub-para 12 of Para A of Part A of Schedule III and Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed Letter from Shri Niraj Bajaj, Chairman and Managing Director, emailed to the shareholders of the Company, on 18th May, 2022.

Appointment of Chief Financial Offer. Pursuant to Regulation 30 of the SEBI Listing Regulations, 2015, we hereby inform you that Board of Directors at its meeting held today, i.e. May 17, 2022 have approved appointment of Shri Dhanesh Goradia as Chief Financial Officer of the Company with effect from June 01, 2022.

Pursuant to Regulation 30 of the SEBI Listing Regulations, 2015, we hereby inform you that Shri U V Joshi, shall retire as Chief Financial Officer of the Company with effect May 31, 2022.

Pursuant to Regulation 30 of the SEBI Listing Regulations, 2015, we hereby inform you that Board of Directors at its meeting held today, i.e. May 17, 2022 have approved appointment of Shri A M Kulkarni (DIN: 01656086) as Whole-time Director designated as President &Director, subject to approval of shareholders by way of Special Resolution. The appointment shall come into effect from date of passing of Special Resolution by shareholders. The Company shall seek Member's approval for the aforesaid appointment by way of postal ballot.

Board of Directors at its meeting held today, i.e. May 17, 2022 have appointed Shri Rajendra Sawant as Company Secretary and Compliance Officer of the Company with effect 17th May, 2022. Brief Profile: Rajendra Sawant is a qualified Company Secretary with around 23 years of experience in Corporate Secretarial, Legal, Mergers and Amalgamation. The Meeting commenced at 12.15 noon and concluded at 2:45 p.m.

Mukand Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 17, 2022, inter alia, have recommended a dividend of Rs. 1.50/- per equity share of Rs. 10/- each fully paid (i.e.@ 15% per share) for the FY 2021-22.

Outcome of Board meeting held on 17 May 2022

Further to our letter dated May 13, 2022 informing about the sanction of Scheme of Arrangement amongst Mukand Sumi Metal Processing Limited (Demerged Company / Transferor Company), Mukand Sumi Special Steel Limited (Resulting Company / Transferee Company) and their respective shareholders and creditors, under the provisions of Sections 230 to 232 read with Section 52 and other applicable provisions of the Companies Act, 2013 and rules thereunder, for transfer of alloy steel business of Demerged Company to Resulting Company, by the National Company Law Tribunal, Mumbai Bench (NCLT), we enclose herewith copy of order uploaded by NCLT on its website. The Demerged Company is in process of applying for the certified copy of the order.

This is to inform you that National Company Law Tribunal, Mumbai Bench (NCLT), in its hearing on May 12, 2022, has sanctioned the Scheme of Arrangement amongst Mukand Sumi Metal Processing Limited (Demerged Company / Transferor Company), Mukand Sumi Special Steel Limited (Resulting Company / Transferee Company) and their respective shareholders and creditors, under the provisions of Sections 230 to 232 read with Section 52 and other applicable provisions of the Companies Act, 2013 and rules thereunder, for transfer of Alloy Steel Business of Demerged Company to Resulting Company. It may be noted that Mukand Sumi Metal Processing Limited is a material subsidiary of the Company. We shall share a copy of the order of the Hon'ble NCLT once received. Kindly take the same on your record.

Intimation of revision /upgrade in Credit Rating(s)