Consequent to Share Purchase Agreement entered on 31.07.2023 between the acquirers and selling/promoter shareholders, Sarvottam Finvest Limited (\Company\) had filed the application with Reserve Bank of India, Kolkata seeking prior approval for proposed change in (a) Shareholding exceeding 26% of the paid-up equity capital; and (b) change in management which results in change in more than 30% of Directors of Sarvottam Finvest Limited.\r\n\r\nThe Company has received an e-mail on 27.02.2024 from Reserve Bank of India, Kolkata stating that due to incomplete/non-submission of certain documents the application is returned and treated as closed. RBI has further stated that if the Company/Acquirers wish to proceed further in the matter, they may submit afresh application with all required documents with Reserve Bank of India, Kolkata.\r\n\r\nThe Company has intimated the above matter to acquirers to do needful.\r\n