Pursuant to the provisions of Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 read with SEBI Circular No. CIR/CFD/CMD1/162/2019 dated 24th December 2019 regarding Format on Statement of Deviation or Variation for proceeds of public issue rights issue preferential issue Qualified Institutions Placement (QIP) etc. we hereby confirm that there is no deviation or variation in the use of proceeds of the Rights Issue from the objects stated in the Letter of Offer dated 15th December 2021. The entire proceeds raised by the Company through the Rights Issue during the quarter ended 31st March 2022 have been utilised for the objects as stated in the Letter of Offer. A Nil Statement of Deviation duly reviewed by the Audit Committee of the Company is given in Annexure A. This intimation is also being uploaded on the Companys website at www.beardsell.co.in Please take it into your records.
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