The Company has executed Consent Terms with HDFC Bank Limited ('HDFC Bank') and Bank of Bahrain and Kuwait BSC ('BBK') on 22nd October, 2026

· . ashima® LIMITED Registered Office: 1st Floor, "Aditya", Near Khadayata Colony, Ellisbridge, Ahmedabad-380 006, India Phone: 91-79-40019600 E-mail: texcellence@ashima.in Website: www.ashima.in CIN: l99999GJ1982PLC005253 23'd October, 2026 To, To, BSE Limited National Stock Exchange of India Ltd Corporate Relationship Department, Exchange Plaza sth Floor, Plot no. C/1, 25th Floor, P J Towers, Dalal Street, G Block, Sandra Kurla Complex, Fort, Mumbai-400001 Sandra (East), Mumbai-400051 SECURITY CODE NO. 514286 SECURITY CODE NO. ASHIMASYN Dear Sir/ Madam, . Sub: Settlement of cases with BBK and HDFC Bank Ref: Regl.)lation 30 of SEBI (Listing Obliga.tions and Disclosure Requirements) Regulations, 2015 The Company has executed Consent Terms with HDFC Bank Limited ("HDFC Bank") and Bank of Bahrain and Kuwait BSC ("BBK") on 22nd October, 2026 for a negotiated settlement of various lega.l cases; involving the Company, HDFC Bank and BBK, which are pending before Debt Recovery Appellate Tribunal - Mumbai ("DRAT"), Debt Recovery Tribunal - Mumbai ("DRT") and the Commercial Court at the City Civil Court, Ahmedabad. The parties will file the Consent Terms with DRAT at the next hearing of the matter, for withdrawing the cases. Deta.iled information pertaining to the matter, pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. H0/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, is provided in the enclosed Annexure. This settlement will put an end to prolonged litigation involving the Company, spanning over several years, in various judicial forums. This is for your information and records. Thanking you, Yours faithfully, For Ashima Limited Harshil Shah Company Secretary & Compliance Officer Encl: As above • ashima® LIMITED Registered Office : 1st Floor, "Aditya", Near Khadayata Colony, Ellisbridge, Ahmedabad - 380 006, India Phone: 91-79-40019600 E-mail: texcellence@ashima.in Website: www.ashima.in CIN: L99999Gj1982PLC005253 Annexure: Disclosure of information pursuant to Regulation 30 of the SEBI Listing Regulation~; read with SEBI Master Circular No. H0/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Sr. Particulars Details 1\t the time of becoming the lfhe cases relate to a matter in respect of a cheque of Rs.7.50 party: Crores drawn on HDFC Bank Limited (11HDFC Bank") by the Company in favour of Bank of Bahrain and Kuwait BSC a) brief details of litigation 11BBI<"). The said cheque was not to be credited by HDFC Bank viz. name(s) of the opposing o BBK, but was erroneously credited by it to BBK, which was party, court/ tribunal/agency disputed by the Company. where litigation is filed, brief details of dispute/litigation; There are various cases pending with Debt r~ecovery Appellate b) expected financial Tribunal - Mumbai ("DRAT"), Debt Recovery Tribunal ("DRT") implications, if any, due to and the Commercial Court (at .the City Civil Court, compensation, penalty etc.; Ahmedabad) in connection with the matter. c) quantum of claims, if any; The parties to the cases, viz. the Company, HDFC Bank and BBK have executed Consent Terms on 22nd October, 2026 to settle the disputes and withdraw the cases. The parties will file the Consent Terms with DRAT at the next hearing for withdrawing the cases. The Company will pay the settlement amount, as detailed hereinafter, during. the hearing. fA.Iso, as per the Consent terms, the Company will withdraw the civil suit pending before the Commercial Court after DRA1 passes order allowing withdrawal of cases. HDFC Bank will release the amount, as detailed hereinafter, upon Order o withdrawal is passed by the Commercial Court. lfhe Company will pay Rs. 18.00 Crores to BBK for settlement of the matter pertaining to the year 2003. As part of the settlement, the Company would receive approximately Rs. 4.06 Crores from HDFC Bank, being amour.t belonging to the Company and held as Fixed Deposit by HDFC Bank pursuant to the court order in the case pending before the CofTimercial Court. Therefore, the net outgo on accoun~ of the settlement would be approximately Rs. 13.94 Crores. II Regularly till the litigation is concluded or dispute isresolved: A the details of any change in The details of settlement are stated in point I above. the status and I or any development in relation to such proceedings; · B ashima® ~ LIMITED Registered Office: 1st Floor, 11Aditya", Near Khadayata Colony, Ellisbridge~ Ahmedabad.-3~0 006, India Phone: 91-79-40019600 E-mail: texcellence@ashima.in Webs1te: www.ash1ma.m CIN : l99999Gj1982PLC005253 B· in the case of litigation Not applicable. against key management personnel or its promoter or . ultimate person in control, regularly provide details of any change in the status and I or any development in reliltion to such proceedings; in the event of settlement of The terms of settlement are stated at point "I" above. . the proceedings, details of such settlement including - The Company has been carrying the disputed liability of Rs. terms of the settlement, 7.50 Crores in its books under Suspen~e Account since compensation/penalty paid 2003, against which it will pay Rs. 18.00 Crores for (if an'y) and impact of such settlement. The amount of difference of Rs. 10.50 Crores settlement on the will be accounted for as interest expense in the financials · financial position of the listed of the Company. entity. The amount of Fixed Deposits with HDFC Bank as referred above is carried at Rs. 3.39 Crores as on date in the books of the Company based on available information from the bank. The actual amount to be received now from HDFC Bank as part of settlement would be approximately Rs. 4.06 Crores. The amount of difference of Rs. 0.67 Crores will be accounted for as interest income in the financials of the Company. In overall terms, the impact of the settlement on the profitability of the Company would be approximately Rs. 9.83 Crores.