We hereby wish to inform you that M/s. J C Flowers Asset Reconstruction Private Limited, a lender of the Company has instituted a suit against the Company, its Promoter and other lenders, before the Debts Recovery Tribunal, Coimbatore for recovery of the loans availed from M/s. Yes Bank Limited (which was assigned to M/s. J C Flowers Asset Reconstruction Private Limited) for a claim amount of Rs. 16,22,62,827.78. The Company is contesting the said matter and will make suitable representations against the said suit before the Debts Recovery Tribunal, Coimbatore in due course.