Kothari Industrial Corpn. Ltd. — Capital/Financing Update 2021

May 12, 2021

31st October, 12.05.20 2 0201

To, To, BSE LimitedBSE Limited The Corporate RelationshThe Corporate Relat onship Department i p Department P.J. Towers, 1st Floor, P.J. Towers, 1st Floor, Dalal Street, Dalal Street, Mumbai – 400 001Mumbai – 400 001

Sub: Outcome of Board Meeting pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015Sub: Outcome of Board Meeting pursuant to Regulation 30 of SEBI (Listing Obligations Ref: Scrip Code: 509732and Disclosure Requirements) (LODR) Regulations,2015 Scrip ID: KOTIC Ref: Scrip Code: 509732 Dear Sir, Scrip ID: KOTIC

The Board of the Directors of the Company at its meeting held today i.e. 31st October, 2020, has considered and approved to cancel/extinguish Dear Sir, 66,27,000 equity shares each of Rs.5 each allotted on Preferential basis to the persons mentioned below against its paid up capital of the Company, as a rThe Board of the Directors of the Company at its meeting held today i.e. 12th May, 2021, has considered and approv e d the sult of which the Issued, ubscribed and Paid up Capital of the Company shall be reduamendment in Paragraph 5.20 under Part III of Draft S c ed from Rs.9,55,54,425 divided into 1,91,10,885 equity shares of Rs.5 each to heme of Reduction Share Capital of the Company. Rs.6,24,19,425 divided into 1,24,83,885 equity shares of Rs.5 each subject to provisions of Section 66 and other applicable provisions of the

Am e nded Paragraph 5.20 under Part III of Draft Scheme of Reduction of Share Capital is as below:

In furtherance to the above, the Board of Directors of the Company in their meeting held today i.e. 31st October, 2020, after considering the “This Scheme of Capital Reduction is in the interest of the Company and its public shareholders as by virtue of this Capital recommendations of tReduction, the s h e Audit Committareholding of th e e, dis publi c ussed and granted approval to the Capit shareholders will increase. Due to the c a l Reduction and approved the Draft Scheme of Reduction of sh flow restraints in the Company, the Allottees Share Capital (“Scheme”) under Section 66 and ohave agreed to waive off the whole subscrip ion amount of Rs. 5 per hare that was paid by them to the Company as share t her applicable provision s of the Companies Act, 2013 read with NCLT Rules. The Scheme is subject to the approval of subscription monies t he shareholders of the Company by way of requisite majority, the Hon’ble National Company Law Tribunal, Chennai owards subscription of the aforesaid equity shares on a preferential basis such that the reduced share capital Bench ("NCLT") and all otis equal to and matc he s the sted share capital. The Company will then make an applicat on to the BSE, along with the order for r app li cable regulatory approvals. The Scheme shall resolve the d i fference between the Issued and Listed Capital on BSE Limited.Capital Reduction, requesting the BSE to revoke suspension of its shares.”

The Board Meeting concluded at 12.30 p.m.

Thanking You, The above intimation is given to you for your record, Kindly take the note of the same. Yours faithfully,

For Kothari Industrial Corporation Limited Thanking You, Yours faithfully, For Kothari Industrial Corporation Limited

ANIL KUMAR Digitally signed by ANIL KUMAR PADHIALI Anil Kumar PadhialiPADHIALI Date: 2021.05.12 Company Secretary and Compliance officer 13:06:38 +05'30'

Anil Kumar Padhiali The above intimation is given to you for your record, Kindly take the note of the same. Company Secretary and Compliance officer

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