Walchandnagar Industries Ltd — Capital/Financing Update 2023

Apr 13, 2023

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Ref. No. : WIL: SEC: 2023 Date : April 13, 2023

National Stock Exchange of India Ltd Corporate Action Department Exchange Plaza, 5[th] floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai - 400 051. Fax :26598237/38, 66418126/25/24 Scrip Code : WALCHANNAG

BSE Ltd. Corporate Relations Department 1st floor, New Trading Ring, Rotunda Bldg P.J. Tower, Mumbai - 400 001. Fax:: 22723121/2039/2037 Scrip Code : 507410

Dear Sir(s),

Sub: Disclosure Under Regulation 30 read with Part A of the Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

This is further to our letter dated 20th July 2022 informing the stock exchanges about the execution of Standstill Agreement dated 19th July 2022 (“ Standstill Agreement ”) with Assets Care And Reconstruction Enterprise Ltd. (ACRE) acting in its capacity as trustee of ACRE-120 TRUST (“ Lender ”).

We would like to inform you that the Company has complied with all the standstill conditions to the settlement/ restructuring as per the terms of the Standstill Agreement.

We would further like to inform you that we are in the process of discussion with ACRE to arrive at the settlement / restructuring agreement and we will intimate to the exchanges once the same is executed between the Company and the Lender. As per the terms of the Standstill Agreement, the standstill period is extended for a period of 3 months until the settlement/ restructuring agreement is executed.

Further, as per the terms of the Standstill Agreement, certain broad terms of restructuring as set out in the Standstill Agreement were to come into effect upon fulfillment of the standstill conditions. This is to inform you that since the standstill conditions have now been fulfilled, the broad terms of restructuring have come into effect.

You are requested to kindly take the above information on record please.

For Walchandnagar Industries Limited

Digitally signed by GIRIRAJ SHARAN AGRAWAL DN: c=IN, o=PERSONAL, title=5216, GIRIRAJ SHARAN pseudonym=2244a53b316a48fcb21a15e09beadf76, 2.5.4.20=d377a37a9c44bd0db5b3d17dd821ed935afdab89d983731b99c7c8e717112652, postalCode=400034, st=Maharashtra, AGRAWAL serialNumber=5a4130bf9a70610c0fd108bdfb582c7679b4082096434107dba690b8c4821e18, cn=GIRIRAJ SHARAN AGRAWAL Date: 2023.04.13 15:54:37 +05'30'

G. S. Agrawal Whole Time Director & Company Secretary

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