Corporate Insolvency Resolution Process

Company under CIRP, Hon’ble NCLT, Hyderabad Bench-I, Order dated 15th May, 2026 Ref: IPCL/SE/LODR/2026-27/IBC 15th August, 2026 The Secretary, The Vice President National Stock Exchange of India Ltd., Metropolitan Stock Exchange of India Ltd Exchange Plaza, Plot No. C/1, G Block Building A, Unit 205A, 2nd Floor, Bandra Kurla Complex, Piramal Agastya Corporate Park, Bandra (E), Mumbai- 400 051. L.B.S Road, Kurla West, Scrip Symbol: DPSCLTD Mumbai - 400 070 Scrip Symbol: DPSCLTD Dear Sir (s), Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Invocation of Bank Guarantee. Please refer to Company’s intimation letter dated 16th May, 2026 filed with the Stock Exchanges regarding admission of the petition for initiation of Corporate Insolvency Resolution Process (CIRP) against India Power Corporation Limited ("Company") by the Hon'ble National Company Law Tribunal, Hyderabad Bench — I, and the appointment of the Resolution Professional (RP). Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations), we would like to inform you that Company was awarded a 133 MW Solar PV Project by MSEDCL pursuant to the Letter of Award dated 25 September 2024, for which the Company had furnished a Bank Guarantee in favour of MSEDCL, backed by 100% margin in the form of a Fixed Deposit. Subsequently, the Company incorporated Parmeshi Urja Limited (“PUL”), a wholly owned subsidiary, for development of the said project. Pursuant to the Business Transfer Agreement dated 2 June 2025 (“BTA”), the ownership of PUL and the related project assets and liabilities, including the said Bank Guarantee and Fixed Deposit, were stated to have been transferred to IPCL Power Limited, a wholly owned subsidiary of the Company. The aforesaid BTA and related transactions are currently under review by the RP. The said Bank Guarantee was invoked by MSEDCL and subsequently encashed by KVB on 14 August 2026 following vacation by MERC, vide its Order dated 12 August 2026, of the interim protection against invocation/encashment of the Bank Guarantee. Please note that the main Petition filed by PUL before Maharashtra Electricity Regulatory Commission (‘MERC’) remains pending. MERC in its order dated 12th August 2026 has observed that, if PUL ultimately succeeds in the main Petition, the monetary impact of the encashment may be addressed through restitution of the encashed amount along with appropriate interest. The brief details of the invocation as required under Regulation 30 read with Part A of Schedule III of the Listing Regulations, read with SEBI updated master circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are as hereunder: India Power Corporation Limited CIN: L40105WB1919PLC003263 [formerly DPSC Limited] Registered Office: Plot No. X1- 2&3, Block-EP, Sector –V, Salt Lake City, Kolkata – 700 091 Tel.: + 91 33 6609 4308/09/10, Fax: + 91 33 2357 2452 Central Office: Sanctoria, Dishergarh 713 333, Telephone: (0341) 6600454/457 Fax: (0341) 6600464 E: corporate@indiapower.com W: www.indiapower.com Company under CIRP, Hon’ble NCLT, Hyderabad Bench-I, Order dated 15th May, 2026 Name of the Beneficiary Maharashtra State Electricity Distribution Company Limited (MSEDCL) Name of the Issuing Bank Karur Vysya Bank Ltd (KVB) Details of Bank Guarantee Bank Guarantee No. QI0IBGP242830001 dated 09.10.2024 Original Amount of Bank Guarantee INR 6.65 Crore Amount Invoked / Encashed INR 6.65 Crore Reason/Ground for Invocation The BG was initially invoked by MSEDCL on 1st April 2026 on the ground of non- achievement of Financial Closure. Subsequently, PUL obtained interim protection against encashment from the Bombay High Court, which was subsequently vacated by MERC vide its Order dated 12 August 2026. Following the said order, the BG has now been invoked/encashed and ₹6.65 crores has been remitted by KVB to MSEDCL. Impact on Financial or Other Activities The invocation has an adverse financial impact of ₹6.65 crores This is for your kind information and record. Thanking you, Yours faithfully, Ms. Srinivasa Mano Ranjani Resolution Professional In the matter of M/s India Power Corporation Limited Reg# IBBI/IPA-001/IP-P00736/2017-2018/11235 AFA# AA1/11235/02/300627/109371; valid up to 30.06.2027 email for correspondence: ipcl.ibc@gmail.com India Power Corporation Limited CIN: L40105WB1919PLC003263 [formerly DPSC Limited] Registered Office: Plot No. X1- 2&3, Block-EP, Sector –V, Salt Lake City, Kolkata – 700 091 Tel.: + 91 33 6609 4308/09/10, Fax: + 91 33 2357 2452 Central Office: Sanctoria, Dishergarh 713 333, Telephone: (0341) 6600454/457 Fax: (0341) 6600464 E: corporate@indiapower.com W: www.indiapower.com