Investor Clarification: Shareholding Extinguishment under Approved Resolution Plan

Please note that the Hon’ble National Company Law Tribunal (NCLT), vide its order dated 14 August 2025 (“NCLT Order”), approved the Resolution Plan dated 08 June 2025 (“Approved Resolution Plan”) submitted by Independent Sugar Corporation Limited for the acquisition of Hindusthan National Glass & Industries Limited (“HNGIL”) under the Corporate Insolvency Resolution Process (CIRP).

As part of this process, the Approved Resolution Plan—having binding legal effect—provided for:

• Delisting of HNGIL’s equity shares from the stock exchanges; and
• No payment to existing shareholders, along with cancellation and extinguishment of all existing shareholdings as on the Trigger Date.

Accordingly, the following steps were undertaken:

Delisting of Shares

• In line with regulatory requirements, stock exchanges issued trading suspension notices on 03 September 2025. Subsequently, after completion of due process, the HNGIL shares were delisted with effect from 22 September 2025 .
• Status of Shareholding
• In accordance with the Approved Resolution Plan and the NCLT Order, no payment was stipulated to existing shareholders, and all such shareholdings were cancelled and extinguished.
• The Resolution Plan was implemented on the ‘Trigger Date’ of 26 September 2025.
• Hence, with effect from 26 September 2025, all equity shares held prior to the implementation of the Approved Resolution Plan stand cancelled and extinguished, and no rights, claims, or entitlements remain in respect of such shareholdings.