Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in use of proceeds from the objects stated in the Letter of Offer for Rights Issue. A statement of deviation, duly reviewed by the Audit Committee, is attached.
The money raised by the Company through Rights Issue, during the quarter ended December 31, 2021, has been partially utilized for the objects as stated in the Letter of Offer dated November 09, 2021 and remaining fund shall be utilized for the same objects stated in Letter of offer.
Up to 31st March 2023, there is no deviation.
Kindly acknowledge the receipt.