MKP Mobility Limited — Capital/Financing Update 2023

Aug 14, 2023

MKP MOBILITY LIMITED

(Formerly known as Chitradurga Spintex Limited) CIN: L50100KA1990PLC011467

Address: P B NO.9, Bangalore Roadchallekere Challekere, Karnataka, 77522

Contact: pcottage68@gmail.com

To The Manager Department of Corporate Services BSE Ltd. Dalal Street, Fort Mumbai – 400 001

Date: 14[th] August, 2023

Sub: Submission of Statement of Deviation/Variation in utilisation of funds raised under Regulation 32 of SEBI (Listing Obligation and Disclosure Requirements Regulation, 2015 for the quarter ended 30[th] June, 2023.

Scrip Code: 521244 (BSE)

Dear Sir,

As per the SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, issued by the SEBI titled "Format on Statement of Deviation or Variation for proceeds of Preferential Issue and pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed Statement of Deviation/Variation in utilization of funds raised during the quarter ended 30[th] June, 2023.

Kindly take the above on record and acknowledge receipt of the same.

This is for the information of the exchange and the members

Yours faithfully,

For MKP Mobility Limited

(Formerly known as Chitradurga Spintex Limited)

SAHEB Digitally signed by SAHEB MAHESH MAHESH DUMBWANI Date: 2023.08.14 DUMBWANI 14:00:52 +05'30' Saheb Mahesh Dumbwani

Company Secretary and Compliance officer

Date: 14[th] August, 2023

Annexure-1

Annexure-1	Annexure-1	Annexure-1	Annexure-1	Annexure-1	Annexure-1	Annexure-1
Statement of Deviation / Variation in utilization of funds raised Name of listed entity MKP Mobility Limited (formally known as Chitradurga Spintex Limited) Mode of Fund Raising Preferential Issues Date of Raising Funds The company has done preferential allotment of 29,50,000 equity shares of the Company on 30th May2022. Amount Raised INR. 4,42,50,000/- Report filed for Quarter ended 30thJune, 2023 Monitoring Agency Not applicable Monitoring Agency Name, if applicable Not Applicable Is there a Deviation / Variation in use of funds raised Yes If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders No If Yes, Date of shareholder Approval Not applicable Explanation for the Deviation / Variation Initially fund was raised of Rs. 4,42,50,000/- for the expansion and future growth of the business. But on 14th March, 2023, it was utilized for the purpose of giving Inter Corporate Deposit of Rs.1Cr for 1 year @ 12% p.a compounded quarterlyto Frontline Electronics Ltd. Comments of the Audit Committee after review Noted and approved Comments of the auditors, if any There is a deviation of fund from the initial purpose for which the fund was raised. Objects for which funds have been raised and where there has been a deviation, in the following table Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilized till 30th June 2023 Amount of Deviation/Variation for the quarter according to applicable object Remarks if any  The object of the issue is to augment the resources of the Company, primarily for expansion and for future growth of the business. Not applicable INR. 4,42,50,000/- Not applicable INR. 2,20,39,492/- INR. 1,00,00,000/- There is a deviation of fund
Statement of Deviation / Variation in utilization of funds raised Name of listed entity MKP Mobility Limited (formally known as Chitradurga Spintex Limited) Mode of Fund Raising Preferential Issues Date of Raising Funds The company has done preferential allotment of 29,50,000 equity shares of the Company on 30th May2022. Amount Raised INR. 4,42,50,000/- Report filed for Quarter ended 30thJune, 2023 Monitoring Agency Not applicable Monitoring Agency Name, if applicable Not Applicable Is there a Deviation / Variation in use of funds raised Yes If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders No If Yes, Date of shareholder Approval Not applicable Explanation for the Deviation / Variation Initially fund was raised of Rs. 4,42,50,000/- for the expansion and future growth of the business. But on 14th March, 2023, it was utilized for the purpose of giving Inter Corporate Deposit of Rs.1Cr for 1 year @ 12% p.a compounded quarterlyto Frontline Electronics Ltd. Comments of the Audit Committee after review Noted and approved Comments of the auditors, if any There is a deviation of fund from the initial purpose for which the fund was raised. Objects for which funds have been raised and where there has been a deviation, in the following table
Name of listed entity	MKP Mobility Limited (formally known as Chitradurga Spintex Limited)
Mode of Fund Raising	Preferential Issues
Date of Raising Funds	The company has done preferential allotment of 29,50,000 equity shares of the Company on 30th May2022.
Amount Raised	INR. 4,42,50,000/-
Report filed for Quarter ended	30thJune, 2023
Monitoring Agency	Not applicable
Monitoring Agency Name, if applicable	Not Applicable
Is there a Deviation / Variation in use of funds raised	Yes
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders	No
If Yes, Date of shareholder Approval	Not applicable
Explanation for the Deviation / Variation	Initially fund was raised of Rs. 4,42,50,000/- for the expansion and future growth of the business. But on 14th March, 2023, it was utilized for the purpose of giving Inter Corporate Deposit of Rs.1Cr for 1 year @ 12% p.a compounded quarterlyto Frontline Electronics Ltd.
Comments of the Audit Committee after review	Noted and approved
Comments of the auditors, if any	There is a deviation of fund from the initial purpose for which the fund was raised.
Objects for which funds have been raised and where there has been a deviation, in the following table
Original Object	Modified Object, if any	Original Allocation	Modified allocation, if any	Funds Utilized till 30th June 2023	Amount of Deviation/Variation for the quarter according to applicable object	Remarks if any
 The object of the issue is to augment the resources of the Company, primarily for expansion and for future growth of the business.	Not applicable	INR. 4,42,50,000/-	Not applicable	INR. 2,20,39,492/-	INR. 1,00,00,000/-	There is a deviation of fund

Deviation or variation could mean:

(a) Deviation in the objects or purposes for which the funds have been raised or

(b) Deviation in the amount of funds actually utilized as against what was originally disclosed or

(c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc

For MKP Mobility Limited

(Formerly known as Chitradurga Spintex Limited)

SAHEB MAHESH Digitally signed by SAHEB MAHESH DUMBWANI DUMBWANI Date: 2023.08.14 14:01:36 +05'30'

Saheb Mahesh Dumbwani

Company Secretary and Compliance Officer