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Resolution Plan approved by the National Company Law Tribunal, Ahmedabad Bench (“Approved Resolution Plan”), the Company had on February 28, 2020, allotted on preferential basis, 83,33,33,333 equity shares of Re. 1/- each at a premium of Rs 2/- per equity share for cash for a total consideration of Rs 250 crore and 250,00,00,000 - 9% Optionally Convertible Preference Shares (OCPS) of Re. 1 each for cash at par, for a total consideration of Rs 250 crore. Further, in accordance with the Approved Resolution Plan, the Company on September 10, 2020, further allotted on preferential basis: · 115,32,00,000 equity shares of the face value of Re. 1/- (Rupee One only) each, fully paid up, to RIL, pursuant to conversion of debt. · 160,14,00,000 equity shares of the face value of Re. 1/- (Rupee One only) each, fully paid up, to JM Financial Asset Reconstruction Company Limited acting in its capacity as a Trustee of ‘JMFARC- March 2018 – Trust’- (JMFARC), pursuant to conversion of debt. Note 2 In accordance with the Approved Resolution Plan, 10,827 equity shares belonging to the promoters of the company stand cancelled and extinguished. Note 3 In accordance with the resolution plan approved by NCLT and upon implementation thereof, Reliance Industries Limited along with JMFARC have acquired joint control of the Target Company with effect from September 14, 2020. Note 4 JM Financial Asset Reconstruction Company Limited, acting in its capacity as Trustee of JMFARC – March 2018 – Trust (JMFARC) is the ‘persons acting in concert’ (PAC) with Reliance Industries Limited but considering that there is no provision for PAC in the prescribed format, they have been shown as part of the promoter group with an explanatory note. The details of shareholding of JMFARC are given below: JM Financial Asset Reconstruction Company Limited (acting in its capacity as Trustee of JMFARC – March 2018 – Trust) holds 1,73,73,11,844 equity shares, constituting 34.99% of the equity capital. Note 5 The Company has received approvals from Stock Exchanges for Reclassification of erstwhile Promoters of the Company under Regulations 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, vide their letter/email communication dated December 11, 2020 and the same was intimated to stock exchanges on the same day. 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