With reference to notice bearing Ref. No.: L/SURV/ONL/RV/AA/ (2024-2025)/ 55 dated 16th September, 2024, Netweb Technologies India has informed that they have entered into a reselling arrangement with Beetel Teletech Ltd, for the latter to resell the existing product range of Netweb Technologies India Limited. Entering into such an arrangement is quite common for businesses like ours. This is neither launching a new product nor is entering into a new market. Of course, the existing products of the Company are expected to have a wider outreach with the arrangement, but the same is not expected to lead to inorganic sales growth, There is no extraordinary or unusual transaction that has been entered into through this arrangement. In light of the regularity and the ordinary nature of the arrangement, entering into the said arrangement was not considered to be a material event or development, particularly because there is no committed sales volume under the arrangement, and therefore, applying the criteria given in Reg 30 (4), the reselling arrangement was not considered to be a material event or information.
The above information is a part of company’s filings submitted to BSE.
