Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Circular No. CIR/ CFD/CMDl/162/2019 dated December 24, 2019, we hereby confirm that during the quarter ended December 31, 2022, there was no deviation or variation in the use of funds raised through preferential issue of shares from the objects stated in the Explanatory Statement to the Notice of Extra-Ordinary General Meeting of the Company dated 28th June, 2022. A statement of deviation or variation for the quarter ended December 31, 2022, duly reviewed by the Audit Committee of the Company is enclosed as "Annexure". We hereby request you to take the above information on your records.