VIKAS LIFECARE LIMITED — Board/Management Information 2021

Jul 19, 2021

Vikas Lifecare Ltd. (Formerly known as Vikas Multicorp Ltd.

CIN: L25111DL1995PLC073719 Regd. Off : G-1, 34/1, East Punjabi Bagh, New Delhi-110 026, INDIA

July 19, 2021

Listing Department National Stock Exchange of India Limited Exchange Plaza Bandra-Kurla Complex, Bandra (E), Mumbai 400 051 India

Deptt of Corporate Services BSE Limited Phirozee Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001 India

Scrip Code: 542655

NSE Symbol: VIKASLIFE

Sub: OutCome of Board Meeting

Dear Sir/ Madam,

In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we are pleased to inform you that the Board of Directors (the "Board") of the Company at its duly convened meeting held today i.e July 19, 2021 has inter-alia:

• 1. reviewed the status of company's debt reduction program, wherein out of total peak outstanding of Rs. 403.5 million, substantial debt (approx 70%) has already have been paid and approx. Rs 120 million is remaining, which shall also be paid with the financial assistance/unsecured loans provided by the promoters of the Company.
• 1. reviewed the report submitted by the Board Committee constituted for pharma and healthcare business and approved the following:
  • a. for M/s Advik Laboratories Limited (wherein the company recently acquired 22.04% Equity Shares from public), the payment of 40 million to be directly made to their banker as per the settlement already agreed between them, out of this 40 million payment, 25 million has already been paid and remaining 15 million shall be paid in next 2 weeks' time, thus making the Advik also a debt free entity, in addition board also approved initial budget of Rs. 20 million to kickstart the operations of the Advik.
  • b. proposal to acquire M/s Hydrolina Biotech Private Limited, (a company engaged in the business of Nutraceuticals, Vitalinaa- Spirulina Products and having R&D Centre and Manufacturing Plant in Tamilnadu) and to appoint necessary intermediaries for initiating the process under Insolvency and Bankruptcy Code, 2016 (I&B Code) and submitting resolution plan with NCLT(Chennai Branch), to further strengthen company's healthcare and pharmaceutical portfolio of the Company.

Brief details of Hydrolinais enclosed herewith as Annexure-A

Vikas Lifecare Ltd. (Formerly known as Vikas Multicorp Ltd.

CIN : L25l ll DLl995PLC0737l9

Regd. OtT: G-|,34/1, East Puniahi Bagh, Nerv Delhi-l l0 026, INDIA

-t/2/t-

1. approved, in principte, the proposal to conceptuatize and devise new corporate management structure/tadder to professionatty run the company, inctuding switching of executive positions hetd by promoters to professionats, and to appoint a suitabte management consuttancy firm with a mandate to submit its detaited report for this purpose.

The meeting was commenced at 10:00 A.M and conctuded at 11:15 A.M.

You are requested to take the information on record and obtige.

Thanking you,

Yours Faithfutly, 1'7r Vikas Lifecare Limited

)\*u Monika Company

Encl : a/a

Vikas Lifecare Ltd.

(Formerly known as Vikas Multicorp Ltd.

CIN : L25lllDLl995PLC0737l9

Regd. Off : G-I,34/t, East Pun,iahi Bagh, Nerv Delhi-ll0 026,lNDlA

Annexure -A

Hydrolina Biotech is engaged in nutraceuticats-derived from natural resources and started manufacturing and exporting "Vitatinaa" - Spirutina dried Powder, Tabtets & Capsutes, and sensing the huge opportunity in "Lycopene" [ater decided to enter into it, initiated R&D, for extraction of lycopenefor commercial purpose and had obtained 2 two patent in this regard.

Approved and financiatty supported by the Department of Biotechnotogy (DBT) and Technotogy Devetopment Board (TDB), Ministry of Science &Technotogy, Govt. of lndia, the Company hasit'sstateof-the-Art R&D facitity, duty recognized by DSIR (Department of Scientific & lndustriat Research) under Ministry of Science & Technotogy, New Dethi, Govt of lndia and its manufacturing ptant in Tamilnadu. lts tycopene manufacturing unit is in futt ready status, with atl necessary approvals, as such production can be commenced immediatety to tap the demand tycopene across the gtobe which is growing at rapid pace.