Rushil Decor Limited — Capital/Financing Update 2022

May 24, 2022

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RUSHIL DECOR LIMITED

WE'LL MAKE IT

RDL/012/2022-23 Date: 24.05.2022

To, National Stock Exchange of India Ltd. Exchange Plaza, Sandra - Kurla Complex, Sandra (E), Mumbai - 400 051 NSE EQUITY SYMBOL: RUSHIL / RUSHILPP1

To, SSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001 SCRIPT CODE: 533470 / 890150

ISIN: INE573K01017

Dear Sir,

Sub.: Statement of Deviation or Variation in the use of proceeds of Rights Issue of Rushil Decor Limited ("the Company")

Ref.: Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that there is no deviation or variation in use of the proceeds from the objects stated in the Letter of Offer for Rights Issue. A statement of deviation or variation, duly reviewed by the Audit committee, is attached herewith.

The entire money raised by the company through Rights Issue, upto the Quarter ended March 31, 2022, has been utilized for the objects stated in the Letter of Offer dated September 07, 2020

Please take the same into your record and do the needful.

Thanking You,

Yours Faithfully For Rushil ijeOLimited 0 oof (ho �

==> picture [83 x 80] intentionally omitted <==

smukh K. Modi mpany Secretary

Encl.: a/a

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RUSHIL DECOR LTD .. RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA. VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM

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RUSHIL DECOR LIMITED WE'LL MAKE n

Statement of Deviation/Variation in utilization of fund raised

		Name of Listed Entity		Rushil Decor Limited
		Mode of Fund Raising		Rights Issue
		Date of Raising Funds		October 15, 2020 (i.e. Allotment on Application in Rights Issue)
				December 2, 2020 (i.e. Last date ofFirst CallMoney period)
				January 15, 2021 (i.e. Last date ofFirst Call Moneyvia Reminder
				period)
				February 26, 2021 (i.e. Last date ofSecond&Final	CallMoney
				period)
				July 26,2021 {i.e. Last date of final reminder cum forfeiture
				notice for payment offirst, second and final callmoney)
				July 26, 2021 (i.e. Last date of reminder cum forfeiture notice for
				payment ofsecond and final callmoney)
				April11, 2022 ((i.e. Last date (Extended date) of last reminder
				cum forfeiture notice for payment offirst, second and final call
				money)
				April11, 2022 (i.e. Last date (Extended date) of last reminder
				cum forfeiturenotice for payment ofsecond and final call
				money)
		Amount Raised (Rs. in Lakhs)		Refer the Note No. 1
		Report filed for the Quarter Ended		March 31, 2022
		Monitoring Agency		Not Applicable
		Monitoring Agency Name, if		Not Applicable
		applicable
		Is there any Deviation/Variation in		No
		use of funds raised
		If yes, whether the same is pursuant		Not Applicable
		to change
		in terms of a contract or	objects,
		which was
		approved by the shareholders
		If Yes, Date of shareholder Approval		Not Applicable
		Explanation for the Deviation /		Not Applicable
		Variation
		Comments of the Audit Committee		No comments
		after review			-
		Comments of the auditors, if	any No Comments RUSHIL DECOR LTD.. H�. RUSHIL HOUSE, NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058,GUJARAT, INDIA		1�0� � • I EDABAD.tI -.

REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD, TA. KALOL, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I CIN: L25209GJ1993PLC019532

I I

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM

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RUSHIL DECOR LIMITED

'L Objects for which funds have been raised and where there has been a deviatioff, fn[M][tlfe ] [IT ] following table:

Objects for which funds have been raised and following table:	Objects for which funds have been raised and following table:	Objects for which funds have been raised and following table:	Objects for which funds have been raised and following table:	w	here there h	as been a deviatio,	'L	fMtI
Original Object Modified Original Modified Object,if Allocatio Allocatio any n {Rs. In n, if any lakhs.)					Funds Utilized (Rs. In lakhs) Refer the Note No. 2	Amount of Deviation/Variation for theQuarteraccording to the applicable object		Remar ks, if any
Part repayment or prepaymentofunsecured loansbroughtinbythe Promoter and Promoter Group	N.A.	1832.00 N.A.			1832.00	N.A.		N.A.
General Corporate purposes	N.A.	622.00	N.A.		618.05	N.A.		N.A.

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.

Note:

1. The amount was raised through partly paid-up right issue. The Right issue was made vide Letter of Offer dated September 07, 2020. In the quarter under consideration, Company called �npaid First, Second & Final Call money vide Last reminder cum forfeiture Notice for which the payment period was from March 14, 2022 to April 11, 2022.

The entire money raised by the Company through Rights Issue, upto the Quarter ended March 31, 2022, has been utilized for the objects as stated in the Letter of Offer dated September 07, 2020.

1. Total issue expense done is Rs. 48.30 Lacs. Issue expenses of Rs. 13.30 Lacs was done over the estimated expense of Rs. 35 Lacs as mentioned in the letter of offer. This additional amount of Rs. 13.3Q is covered in the General Corporate Purpose in the above table.

Yours Faithfully,

· r, Rushil DfclJmited , � MbeA �

smukh K. Modi

RUSHIL DECOR LTD., RUSHIL HOUSE. NEAR NEELKANTH GREEN BUNGALOW, OFF SINDHU BHAVAN ROAD, SHILAJ, AHMEDABAD-380058, GUJARAT, INDIA.

REGO. OFFICE: S. NO. 125, NEAR KALYANPURA PATIA, VILLAGE ITLA, GANDHINAGAR-MANSA ROAD , TA. KALOL, DIST. GANDHINAGAR-382845, GUJARAT, INDIA. I GIN: L25209GJ1993PLC019532

PH: +91-79-61400400 I FAX: +91-79-61400401 I EMAIL: INFO@RUSHIL.COM I WWW.RUSHIL.COM