PRAJAY ENGINEERS SYNDICATE LTD. - Regulation 30 SEBI (LODR) Regulations - Execution Of The Settlement Agreement Furtherance To The Mediation Proceedings Pertaining To The Disputes Between The Investors (Whitestock Limited, Belclare Limited) And Prajay Entities Including The Company

With reference to the above cited subject and in furtherance to our communication dated 31-03-2023, we would like to inform you that: In furtherance to the mediation proceedings pertaining to the disputes between the Investor Entities (i.e. White Stock Limited & Belclare Limited) and Prajay Entities, The Settlement Agreement has been executed amongst by the following parties, under the auspices of International Arbitration and Mediation Centre, (IAMC) Hyderabad and the filing of the compromise terms before the National Company Law Tribunal, Hyderabad shall be proceeded accordingly: (i) The Company (ii)PPPL (Associate Company), (iii) PHPL (Subsidiary Company)(iv) PLCPl (Wholly-owned subsidiary of PPPL), (v) PDPL (Wholly-owned subsidiary of PHPL),(vi) Mr. D. Vijay Sen Reddy - Promoter , (vii) Mr. D. Rohit Reddy - Promoter Group And(viii)Belclare Limited and Whitestock Limited - Investor Companies Further updates, if any, shall be provided in due course.