Walchandnagar Industries Limited have received intimation Letter or Notice dated April 18, 2022 from Assets Care & Reconstruction Enterprise Ltd. ("ACRE") stating that KKR India Financial Services Ltd. (hereinafter referred to as the "Lender") has assigned the entire debt (i.e. Loans and NCDs) due from the Company alongwith the underlying financing documents together with Lenders rights, benefits and obligations thereunder to Assets Care & Reconstruction Enterprise Ltd. ("ACRE") acting in its capacity as trustee of ACRE-120-TRUST.