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These Promoter Group Members have undertaken under the Transaction Documents to not to transfer equity shares of the Company, except as otherwise expressly permitted under the Transaction Documents, which would likely fall within the definition of the term 'encumbrance' provided under Chapter V of the SEBI (SAST) Regulations, 2011. For the Compliance of above provision, the aforesaid Promoter Group members of the Company have on October 5, 2023 filed the required disclosure under Regulation 31 of SEBI (SAST) Regulations, 2011. A copy of the said disclosure is attached herewith for your ready reference. However, such a non-disposal undertaking is not in the nature of a formal pledge which has to be notified to the Depositories. In view of above we hereby clarify that the aforesaid Promoter Group members have not pledged any shares in demat form. 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