Further to letter dated July 20, 2022 informing about the execution of Standstill Agreement dated July 19, 2022 (Standstill Agreement) with ACRE acting in its capacity as trustee of ACRE-120 TRUST(Lender), after assignment of debt of the Company from KKR India Financial Services to ACRE and its letter dated April 13, 2023 informing the stock exchanges that the Company has complied with all the standstill conditions to the settlement/restructuring as per the terms of the Standstill Agreement, Walchandnagar Industries has informed that it has successfully exited from the standstill arrangement under the Standstill Agreement and the Company after discussion and negotiation have agreed upon debt restructuring scheme with ACRE and has signed restructuring agreement dated May 18, 2023 as amended /supplemented from time to time (Restructuring Agreement) with ACRE (Lender). As required under Reg 30 of the SEBI LODR Regulations,2015, the requisite information is enclosed as Annexure.
The above information is a part of company’s filings submitted to BSE.