In accordance with regulation 32 of SEBI (LODR) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMDI/162/2019 dated 24/12/2019, it is hereby confirmed that there is no deviation or variation in the use of proceeds from the preferential issue of the company (Conversion of Warrants into equity). Please find attached herewith the statement of deviation or variation, duly reviewed and approved by the audit committee at its meeting held on 15/05/2015.\r\nDuring the quarter ended on 31/12/2024, the company received an amount of Rs. 381,37,500/- being 75% of the warrant application monies towards 450000 share warrants. The funds were fully utilized at the end of quarter 31/03/2025.\r\nPlease take the above information on record.\r\n