Rarever Financial Advisors Pvt Ltd ("Manager to the Offer') has submitted to BSE a copy of Recommendations of the Committee of Independent Directors ('IDC') of Reliable Ventures India ....

Date: August 12, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001 Maharashtra, India SUB: Recommendations of the Committee of Independent Directors on the Open Offer for acquisition of 28,63,354 Equity Shares of Reliable Ventures India Limited (‘Target Company’) in terms of Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 Dear Sir/Madam, We, Rarever Financial Advisors Private Limited (hereafter referred to as “Manager to the Offer”), are hereby submitting the Recommendations of the Committee of Independent Directors of Reliable Ventures India Limited on the Open Offer for the acquisition of 28,63,354 Equity Shares of Target Company by Mr. Chennupati Sarath Kumar (Acquirer 1), Mr. Vasireddy Sivanag (Acquirer 2) and Ancla Technology Solutions India Private Limited (Acquirer 3), (collectively referred to as the “Acquirers”) pursuant to and in compliance with Regulations 3(1) and 4 of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto. Request you to take the same on your record. Thanking You, Yours Faithfully, For Rarever Financial Advisors Private Limited Kruti Vyas Authorised Signatory Place: Ahmedabad Encl: 1. Recommendation from Committee of Independent Directors 2. E- Newspaper Copy RELIABLE VENTURES INDIA LIMITED Corporate Identification Number: L22354MP1992PLC007295; Registered Office: A 6 Indore Road Koh-e-Fiza, Bhopal, Madhya Pradesh, 462001; Contact Number: 0755-4266601 / 02 / 03; Email Address: reliableventuressecretarial@gmail.com; Website: https://www.reliableventuresltd.com Recommendations of the Committee of Independent Directors (‘IDC’) of Reliable Ventures India Limited (‘Target Company’) in relation to the Open Offer (‘Offer’) made by Mr. Chennupati Sarath Kumar (Acquirer 1), Mr. Vasireddy Sivanag (Acquirer 2) and Ancla Technology Solutions India Private Limited (Acquirer 3) (hereinafter collectively referred to as ‘Acquirers’), to the Public Shareholders of the Target Company under the provisions of Regulation 26(7) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and Subsequent Amendments thereto (‘SEBI (SAST) Regulations’). Sr. Particulars Details 1. Date Tuesday, August 11, 2026 2. Name of the Target Company Reliable Ventures India Limited The Open Offer is made by the Acquirers in terms of Regulations 3(1) and 4 of SEBI (SAST) Regulations, 2011 for acquisition of up to 28,63,354 equity shares of face value of ₹ Details of the Offer pertaining to the Target 10/- each, at a price of ₹ 21.00/- each payable in cash, Company representing 26% of the fully paid-up equity share capital and voting capital of the Target Company from The Public Shareholders of The Target Company in terms of SEBI (SAST) Regulations, 2011. Mr. Chennupati Sarath Kumar (Acquirer 1), Mr. Vasireddy Names of the Acquirers and Persons Acting Sivanag (Acquirer 2) and Ancla Technology Solutions India in Concert with the Acquirers Private Limited (Acquirer 3). There is no person acting in concert for this Offer. Rarever Financial Advisors Private Limited 5. Name of the Manager to the Offer (SEBI Reg. No.: INM000013217) Sr. Name of the Independent Designation Members of the Committee of Independent No. Directors Directors (IDC) 1. Mr. Kaladharan P Chairperson 2. Mrs. Tirumalla Sai Navya Member 1 . All IDC Members are Independent and Non-Executive Directors on the Board of the Target Company. IDC Member’s relationship with the Target 2. None of the members of the IDC hold any equity shares or 7. Company (Director, Equity shares owned, other securities of the Target Company or have any any other contract/relationship), if any contract/ relationship with the Target Company other than their appointment as Independent Directors of the Target Company. Trading in the Equity Shares/other None of the IDC members have traded in the Equity Shares of 8. securities of the Target Company by IDC Target Company since their appointment. Members None of the IDC Members hold any contract, nor have any direct or indirect relationship with the Acquirers. The Acquirers comprise individuals as well as body IDC Member’s relationship with the corporate, Ancla Technology Solutions Private Limited, a 9. Acquirers (Director, Equity shares owned, private company. However, none of the IDC Members hold any other contract/ relationship), if any. any directorship, equity shares or other securities in, or have any direct or indirect contractual or other relationship with, the said Acquirers. Accordingly, the details in this regard are not applicable. The Acquirers comprise individuals as well as body corporate, Ancla Technology Solutions Private Limited, a Trading in the equity shares/other 10. private company. However, none of the IDC Members hold securities of the acquirers by IDC Members any directorship, equity shares or other securities in, or have any direct or indirect contractual or other relationship with, the said Acquirers. Accordingly, the details in this regard are not applicable. Based on a review of the relevant information (as set out in Recommendation on the Open offer, as to the summary of reasons for recommendation below), the IDC 11. whether the offer, is or is not, fair, and is of the opinion that the Offer Price of Rs. 21 per Equity Share reasonable is in accordance with the applicable regulations being SEBI (SAST) Regulations 2011 and accordingly, is fair and reasonable. IDC Members have taken into consideration and reviewed the following Offer Documents for making the recommendation: IDC has reviewed: a) Public Announcement dated Tuesday, June 02, 2026; b) Detailed Public Statement dated Tuesday, June 09, 2026, c) Draft Letter of Offer dated Tuesday, June 16, 2026, filed and submitted with SEBI; d) Letter of Offer along with Form of Acceptance and Form SH-4 dated Friday, August 04,2026; The Offer Price is in terms of Regulation 8 of the SEBI (SAST) Regulations. Summary of reasons for the recommendation Based on the review of the aforesaid Offer Documents, the IDC Members are of the view that the Offer Price is ₹21.00/- offered by the Acquirers in line with the parameters prescribed by SEBI in the SEBI (SAST) Regulations. Further, IDC Members confirm that the Target Company has not received any complaint from the shareholders regarding the open offer process, valuation price or method of valuation. However, the Shareholders of the Target Company are advised to independently evaluate the Open Offer and take an informed decision in the best of their interests. These recommendations have been unanimously approved 13. Disclosure of Voting Pattern by the IDC Members at the meeting held on. Tuesday, August 11, 2026. 14. Details of Independent Advisors, if any None 15. Any other matter to be highlighted None To the best of our knowledge and belief, after making the proper enquiry, the information contained in or accompanying this statement is, in all material respect, true and correct and not misleading, whether by omission of any information or otherwise, and includes all the information required to be disclosed by the Target Company under the SEBI (SAST) Regulations. For and on behalf of the Committee of Independent Directors Reliable Ventures India Limited Place: Bhopal Sd/- Date: Tuesday, August 11, 2026 Mr. Kaladharan P Chairman of the IDC (DIN: 02261923)