VARVEE GLOBAL LIMITED — Capital/Financing Update 2021

Mar 24, 2021

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The Manager (Listing)	The Manager (Listing)
The Bombay Stock Exchange Ltd.	The National Stock Exchange of India
Phiroze Jeejeebhoy Towers,	Ltd
Dalal Street,	“Exchange Plaza”
Mumbai – 400 001	Bandra-Kurla Complex
Company Code: 514274 (BSE)	Mumbai – 400 051
	Company Code: AARVEEDEN(NSE)

Reg: Updation regarding the Withdrawal of Restructuring of Debts pursuant to Framework for COVID-19-related Stress issued by Reserve Bank of India

Dear Sir/madam,

With reference to the above mentioned subject and our letter dated 26[th] October 2020, it is to inform you that the company has decided not to go ahead with the proposed restructuring plan and accordingly, the consortium bankers of the company have treated the Inter Credit Agreement (ICA) as withdrawn.

The above intimation is for the benefit of all the stakeholders and public at large.

This is for your kind perusal and records. Kindly acknowledge the receipt of same. Thanking You,

For, Aarvee Denims and Exports Limited

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ASHISH V SHAH DIN 00007201 Managing Director