Rejection of proposal submitted under section 12A of the Insolvency and Bankruptcy Code, 2016, ("IBC") by the promoter.

Date: September 25, 2026 Corporate Relations Department, BSE Limited, Floor 25, P.J. Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 531574 Sub.: Rejection of Proposal submitted under Section 12A of the Insolvency and Bankruptcy Code, 2016, (“IBC”) by the Promoter – Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Ref.: Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") Dear Sir/Madam, We wish to inform you that VAS Infrastructure Limited ("the Company") is presently undergoing Corporate Insolvency Resolution Process ("CIRP") pursuant to the order dated March 11, 2024, passed by the Hon'ble National Company Law Tribunal, Mumbai Bench, in C.P. (IB) No. 314/MB/2023, and thereafter, the Hon’ble National Company Law Tribunal, Mumbai Bench, in IA No. 3523 of 2026 in C.P. (IB) No. 314 (MB) of 2023 vide order dated August 13, 2026, (Uploaded on NCLT website on August 24, 2026), appointed Mr. Bimal Kumar Agarwal (IBBI Registration No. IBBI/IPA-001/IPP01409/2018-2019/12186) as the Resolution Professional. Further, Canara Bank Limited ("the Bank") is the sole secured financial creditor of the Company, holding 100% of the voting share in the Committee of Creditors ("CoC") of the Company. In this regard, we wish to inform you as under: 1. Mr. Jayesh Valia, Promoter of the Company, had submitted a proposal dated September 23, 2026, directly to the Bank for settlement of their dues and for withdrawal of the CIRP under Section 12A of the Insolvency and Bankruptcy Code, 2016 ("IBC") read with Regulation 30A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. 2. The Bank, vide its letter dated September 24, 2026, has, after due examination of the proposal and discussion with the Competent Authority, informed that the said proposal was not acceptable and has accordingly rejected the proposal. The details of the said event, as required under Regulation 30 of the Listing Regulations read with the SEBI Master Circular on disclosure requirements, are set out below: Particulars Details Rejection of the proposal submitted under Section 12A of the Nature of the event IBC, 2016, submitted by the Promoter September 24, 2026 (date of the Bank's letter rejecting the Date of the event proposal submitted under Section 12A of the IBC, 2016) Mr. Jayesh Valia (Promoter of the Company) and Canara Parties involved Bank Limited (sole secured financial creditor of the Company, holding 100% voting share in the CoC) The proposal for settlement of dues of the Company and withdrawal of CIRP under Section 12A of the IBC was Brief details / reasons examined by the Bank and, after discussion with the Competent Authority, was found not acceptable and was accordingly rejected The CIRP of the Company shall continue in accordance with Impact on the Company the provisions of the IBC; This disclosure is being made in compliance with Regulation 30 of the Listing Regulations. We request you to kindly take the above on record. Thanking you, Yours faithfully, For VAS Infrastructure Limited (Under Corporate Insolvency Resolution Process) Mr. Bimal Kumar Agarwal Resolution Professional IBBI Registration No: IBBI/IPA-001/IPP01409/2018-2019/12186 AFA Valid Till 30 June 2027 Email: cirp@vasinfra.com