In accordance with Regulation 31(1) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 2011 (Takeover Regulations) and in compliance of SEBI Circular No. SEBI/HO/CFD/DCR1/CIR/P/2019/90 dated August 01 2019 please find enclosed herewith the disclosure of reasons for encumbrance by Promoter and Promoter Group of the Company as per prescribed format at Annexure -II.