The board of directors of Ind-Swift Limited at its meeting held on March 30, 2024, approved the execution of Loan Facility Agreement with M/s Ind Swift Laboratories Limited (Group Company) of INR 3,525.1 million along with right to recover additional INR 4,631.7 million (Zero-Coupon Debt (ZCD)) in case of default in repayment of loan facility. Consequently, the debt of the company has been taken over by M/s Ind Swift Laboratories Limited from the lenders (Edelweiss Asset Reconstruction Company Limited (EARC)) of the company. Purpose of entering into the agreement: To Repay the debt of the company to the existing lenders.

Significant terms of the agreement: Tenure: Nine years (including 15 months moratorium on principal and interest payment. However, interest will be accrued monthly), Rate of Interest: 10% p.a.p.m. Security: all the existing security as was with EARC. Additional Rights: right given to recover additional INR 4,631.7 million (Zero- Coupon Debt (ZCD)) in case of default in repayment of loan facility, to be waived in case of successful payment of loan facility.