Pursuant to the provision of Regulation 32 of Securities and Exchange Board of India ['SEBI'] (Listing Obligation and Disclosure Requirements) Regulation, 2015, read with SEBI Circular No. CIR/CFD/CMD 1/162/2019 dated 24 December 2019 regarding 'Format on Statement of Deviation or Variation for proceeds of a public issue, right issue, preferential issue, Qualified Institutional Placement ('QIP'), etc.'; We hereby confirm that there is no deviation or variation in the use of preferential issues from the objects stated in item no. 8. ISSUE OF OPTIONALLY CONVERTIBLE DEBENTURE - SERIES I & SERIES II AT FACE VALUE OF Rs.100 EACH in the notice of Annual General Meeting dated December 04, 2020, and the same is approved at the shareholders meeting held on December 30, 2020. A Nil Statement on Deviation duly revised by the Audit Committee of the Company.