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( As on 15/11/2022 16:35) Autolite (I) - One Time Settlement

Autolite (India) Limited has informed the Exchange about Settlement with Kotak Mahindra Bank due to severe financial crisis. The Company requested Kotak Mahindra Bank to settle their dues. The Bank provided settlement letter to repay Rs. 14.50 Crores against Rs. 16 Crores before November 15, 2022. The Company has repaid the entire amount on November 15, 2022 and also dispose off land and building situated at Sitapura Industrial Area, Jaipur for Rs. 20 Crores to M/s Aarti Fab Tex Private Limited which is not related party to the Company or its promoters.