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AGI Greenpac Ltd. This is in furtherance of our earlier disclosures, wherein we had disclosed eve...

Posted: 31 Jan 2025

AGI Greenpac Ltd. This is in furtherance of our earlier disclosures, wherein we had disclosed events pertaining to the proposed acquisition of Hindusthan National Glass & Industries Limited (“HNGIL”) by the Company, in the Corporate Insolvency Resolution Process under the Insolvency & Bankruptcy Code, 2016 (“IBC”), and certain pending litigations/events in that regard. This is to inform that on January 29, 2025 the Hon’ble Supreme Court (three-judges’ bench) has pronounced its judgment in a batch of matters titled “Independent Sugar Corporation Limited v. Girish Sriram Juneja & Anr.”, Civil Appeal No.(s) 6071/2023 and connected matters, which inter alia pertained to the proposed acquisition of HNGIL by the Company under the IBC (“Judgment”). In the aforesaid Judgment, by way of majority opinion, the Hon’ble Supreme Court has held against the Company’s resolution plan to acquire HNGIL that had earlier been approved by the Committee of Creditors of HNGIL. A copy of the aforesaid Judgment has been made available to the Company and is enclosed herewith as “Annexure-A”. The disclosures as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular no SEBI/HO/CFD-PoD-1/P/CIR2023/123 dated July 13, 2023 are enclosed as ‘Annexure- B’. The Company is currently evaluating the Judgment and the next steps in relation thereto, in consultation with our legal advisors. In the meanwhile, we would like to inform that the aforesaid Judgment does not impact the existing operations and profitability of the Company. The Company continues its endeavour to pursue various growth options including organic growth for capacity buildup/expansion apart from acquisition opportunities as may emerge. This is for your information and record and should be deemed to be the Company’s due compliance with the LODR Regulations. Thanking you,