AFFLUENCE

Inter alia, approved:- appointment of S.R. Batliboi & Co. LLP, Chartered Accountants (ICAI Firm Registration Number: 301003E/E300005), as Statutory Auditor of the Company, for a period of five years, from the conclusion of the 18th Annual General Meeting (?AGM?) of the Company to be held in the financial year 2025-26 (?Ensuing AGM?), upto the conclusion of the 23rd AGM of the Company, subject to approval of the members of the Company at the Ensuing AGM, in view of completion of term of Deloitte Haskins & Sells LLP, existing Statutory Auditor of the Company at the Ensuing AGM.

Preferential Issue of shares Inter alia, approved the following: Allotment of 1,58,34,000 No. of Equity shares on preferential basis approved the allotment of 1,58,34,000 (One Crore Fifty-Eight Lakhs Thirty-Four Thousand) no. of equity shares at a Face Value of Rs.10/- each at an issue price of Rs. 18/- each per equity share (including premium of Rs. 8/- per equity share) on preferential basis to the Promoters and Non-Promoters. The Company has received the total consideration to Rs. 28,50,12,000/- (Rupees Twenty-Eight Crore Fifty Lakhs Twelve Thousand only) for allotment of 1,58,34,000 no. of equity shares as per the terms of the issue. The new equity shares allotted, shall rank pari passu with the existing equity shares of the Company. Post allotment of the aforesaid shares, the paid up capital of the Company has increased from Rs. 1,13,18,400 (11,31,840 equity shares of face value of Rs.10/- each fully paid up) to Rs. 16,96,58,400 (1,69,65,840 equity shares of face value of Rs.10/- each fully paid up)

Inter-alia, approved: 1. RECONSTITUTION OF BOARD The board, to align leadership with our strategic objectives post-Ebix, Inc. acquisition and enhance operational efficiency, on recommendation of Nomination and Remuneration Committee of the Company, has appointed the following directors to drive integration, optimize performance, and unlock growth potential. 2. CONSTITUTION OF ENVIORNMENTAL SOCIAL AND GOVERNANCE (ESG) COMMITTEE AND ADOPTION OF ESG POLICY The Board adopted comprehensive ESG policies to ensure sustainable growth by integrating environmental, social, and governance principles into our operations, aiming to enhance transparency, drive long-term value, and support responsible business practices aligned with global standards, and constituted an ESG Committee. The role of the ESG Committee has been established to assist the Board in meeting its responsibilities in relation to the Environmental, Social and Governance (ESG) matters arising out of the activities and operations of the Company for aiming towards enhanced sustainable development 3. REVIEW OF EBIX, INC. BUSINESSES A comprehensive review of business activities across various verticals and locations was conducted, during which several business heads from the Ebix Group provided invaluable insights through detailed overviews of their operations, highlighting successes, challenges, and market opportunities. The discussions centered on key areas such as Strategic Alignment, Market Prospects, Performance Metrics, and Growth Planning. The board reaffirmed its commitment to supporting these verticals as they navigate the post-acquisition landscape, emphasizing collaboration across divisions to ensure a unified approach to achieving the company?s strategic goals. 4. STATUS OF INQUIRY INSTITUTED AGAINST MR. ROBIN RAINA The High-Powered Steering Committee presented its recommendations based on interim reports from TPO Bharat (External Export Group) and Internal Auditor M/s. M M Nissim & Co., which highlighted the financial irregularities involving Mr. Robin Raina. The Board was further made aware of the frivolous legal actions Mr. Raina has initiated against the Company, its promoters, and others, based on some forged documents, along with various false claims and complaints filed by him in different forums, regulatory bodies, all of which are detrimental to the interests of the Company and its stakeholders. It was further noted that despite being given adequate opportunities to respond, Mr. Raina did not cooperate during the company?s inquiry, rather opted not to engage in the inquiry process. The Eraaya Board took cognizance of seriousness of the irregularities identified, as well as Mr. Raina?s conduct following his suspension from all the positions he held in the Company, Ebix, Inc. and all its global subsidiaries, and his lack of cooperation during the inquiry process. After thorough deliberations, the Board has decided to pursue a more in-depth investigation, in consultation with legal counsels and other specialists to thoroughly assess the situation. This review will include an examination of relevant documentation and interviews with key individuals. The Eraaya Board reaffirms its commitment of ensuring transparency and integrity throughout the process, while aiming to fully understand the circumstances surrounding the identified irregularities.

Spectrum Electrical Industries Limited has informed the Exchange regarding 'Intimation regarding alteration in the Main Objects of Spectrum Health-Tech Private Limited (Formerly known as Spectrum Mass-Tech Private Limited) our Subsidiary Company w.e.f. 19th October, 2024'.

Aeron Composite Limited has informed the Exchange regarding 'has informed the Exchange regarding 'Non-applicability of Regulation 27 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ''.