Cravatex Ltd. — Board/Management Information 2021

Aug 13, 2021

Registered Office : Ground Floor (East Wing), Forbes Building, Charanjit Rai Marg, Fort, Mumbai – 400 001 CIN L93010MH1951PLC008546 Telephone No. : +91 22 6666 7474 Email : info@cravatex.com Website : www.cravatex.com

13[th] August, 2021

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BSE Limited Department of Corporate Services (DCS-Listing) Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001

Company Code: 509472

Dear Sirs,

Sub : Outcome of the Board Meeting held on 13[th] August, 2021

• Ref : Disclosure as required under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ SEBI LODR ”), we, Cravatex Limited (“ Company ”), wish to inform you that a meeting of the Board of Directors of the Company was held on 13[th] August, 2021 through electronic mode at 3.45 p.m. and concluded at 4.55 p.m. The meeting inter alia transacted the following business:

• a) Approved an investment of amount aggregating to Rs. 4,98,21,159.96 (Rupees Four crores ninety eight lakhs twenty one thousand one hundred fifty nine and ninety six paise) in Cravatex Brands Limited (“ CBL ”), a material subsidiary of the Company, by way of subscription to 2,95,254 (Two lakhs ninety five thousand two hundred and fifty four) nos. of 0.001% Compulsorily Convertible Preference Shares (“ CCPS ”) with a face value of Rs. 100/- (Rupees one hundred) each at a price of Rs.168.74 (Rupees one hundred sixty eight and seventy four paise) each [including a premium of Rs.68.74 (Rupees sixty eight and seventy four paise)] which CBL has proposed to offer, issue and allot through a rights issue.

Intimation on specified details pursuant to the SEBI LODR shall be done after subscription to the rights issue.

Contd…….

Registered Office : Ground Floor (East Wing), Forbes Building, Charanjit Rai Marg, Fort, Mumbai – 400 001 CIN L93010MH1951PLC008546

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Telephone No. : +91 22 6666 7474 Email : info@cravatex.com Website : www.cravatex.com

• b) Approved the execution of a Third Supplemental Agreement to the Share Subscription and Shareholders Agreement dated March 9, 2020 (“ Third Supplemental SSSHA ”) between the Company, Cravatex Brands Limited, Rajesh Batra, Rohan Batra, R.B. Fitness and Trading Private Limited and Paragon Partners Growth Fund – I, in relation to the Company’s further investment into CBL through rights issue as mentioned above in Point (a).

Intimation on specified details pursuant to the SEBI LODR shall be done after due execution of the Third Supplemental SSSHA.

Kindly take the above information on record.

Thanking You,

For Cravatex Limited,

Digitally signed by SUDHANSHU NAMDEO DN: c=IN, o=Personal, 2.5.4.20=925a3182dfaeb944aef04c2182756 SUDHANSH 96ed8797edcd95692041189f0d7dbd75ba8, postalCode=410218, st=Maharashtra, serialNumber=ed5747e3e6b898fec2d22186 U NAMDEO 1890d0b5acbfee35124932f1bd649a2993918105, cn=SUDHANSHU NAMDEO Date: 2021.08.13 18:12:32 +05'30'

Sudhanshu Namdeo Company Secretary