EFC (I) Limited at its board meeting held on February 6, 2024, approved the proposal for incorporation of a Subsidiary of the Company in the name of Ek Design Industries Limited or any other name as approved by competent authority upon incorporation shall have: Authorized Share Capital: INR 1,000,000 divided into 100,000 Equity shares of INR 10 each. Paid-Up Share Capital: INR 1,000,000 divided into 100,000 Equity shares of INR 10 each. Ek Design will carry on business of manufacturing of furniture.

The key objective of proposed incorporation is to carry on business of manufacturing of furniture, which is in line of business of serviced offices and interior solutions provided by EFC (I) Limited and its other subsidiaries. The proposed incorporation may take approx. two months.